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    EXL Reports 2024 First Quarter Results

    5/2/24 6:00:00 AM ET
    $EXLS
    Business Services
    Consumer Discretionary
    Get the next $EXLS alert in real time by email

    2024 First Quarter Revenue of $436.5 Million, up 9.0% year-over-year

    Q1 Diluted EPS (GAAP) (1) of $0.29, down 3.3% from $0.30 in Q1 of 2023

    Q1 Adjusted Diluted EPS (Non-GAAP) (1) (2) of $0.38, up 8.9% from $0.35 in Q1 of 2023

    NEW YORK, May 02, 2024 (GLOBE NEWSWIRE) -- ExlService Holdings, Inc. (NASDAQ:EXLS), a leading data analytics and digital operations and solutions company, today announced its financial results for the quarter ended March 31, 2024.

    Rohit Kapoor, Chairman and Chief Executive Officer, said, "We are pleased with our first quarter results and solid start to the year, as we delivered revenue growth and adjusted diluted EPS growth of 9%. Our data and AI-led strategy, combined with our deep domain expertise, continues to resonate with our clients and fuel our above industry average growth rates. The consistent execution of our differentiated strategy has enabled us to continue our momentum into 2024."

    Maurizio Nicolelli, Chief Financial Officer, said, "While we remain cautious on the macro-economic environment, we are raising the bottom of our range for both revenue and EPS based on our solid momentum in the first quarter and current visibility for the remainder of the year. We now expect revenue to be in the range of $1.79 billion to $1.82 billion, up from our prior guidance of $1.78 billion to $1.82 billion. This represents 10% to 12% year-over-year growth on both a reported and constant currency basis. We now expect our adjusted diluted earnings per share for 2024 to be in the range of $1.58 to $1.62, up from our prior guidance of $1.56 to $1.62, representing growth of 10% to 13% over the prior year."

    ______________________________________________________________

    1. Prior period information has been adjusted to reflect the 5-for-1 forward stock split of our common stock effected in August 2023. See Note 19 – Capital Structure to consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2023, for further details.
    2. Reconciliations of adjusted (non-GAAP) financial measures to the most directly comparable GAAP measures, where applicable, are included at the end of this release under "Reconciliation of Adjusted Financial Measures to GAAP Measures." These non-GAAP measures, including adjusted diluted EPS and constant currency measures, are not measures of financial performance prepared in accordance with GAAP.

    Financial Highlights: First Quarter 2024

    • Revenue for the quarter ended March 31, 2024, increased to $436.5 million compared to $400.6 million for the first quarter of 2023, an increase of 9.0% on a reported basis and 8.8% on a constant currency basis. Revenue increased by 5.4% sequentially on a reported basis and constant currency basis, from the fourth quarter of 2023.



      Revenue Gross Margin
      Three months ended Three months ended
    Reportable Segments March 31, 2024 March 31, 2023 March 31, 2024 March 31, 2023
      (dollars in millions)    
    Insurance $145.1 $125.9 36.4% 34.6%
    Healthcare  26.3  26.7 34.0% 29.6%
    Emerging Business  74.4  66.2 44.9% 45.6%
    Analytics  190.7  181.8 35.6% 37.1%
    Total Revenue, net $436.5 $400.6 37.4% 37.2%
     
    • Operating income margin for the quarter ended March 31, 2024 was 14.1%, compared to 14.8% for the first quarter of 2023 and 13.1% for the fourth quarter of 2023. Adjusted operating income margin for the quarter ended March 31, 2024 was 18.9%, compared to 19.4% for the first quarter of 2023 and 17.8% for the fourth quarter of 2023.
    • Diluted earnings per share for the quarter ended March 31, 2024 was $0.29, compared to $0.30 for the first quarter of 2023 and $0.24 for the fourth quarter of 2023. Adjusted diluted earnings per share for the quarter ended March 31, 2024 was $0.38, compared to $0.35, both for the first quarter of 2023 and the fourth quarter of 2023.

    Business Highlights: First Quarter 2024

    • Won 16 new clients in the first quarter of 2024, with 6 clients in the digital operations and solutions business and 10 clients in analytics.
    • EXL named top performer and Leader among the 26 leading analytics and AI service providers in Everest Group's Analytics and Artificial Intelligence (AI) Services Specialists PEAK Matrix® Assessment 2024.
    • Held an AI in Action virtual customer symposium attended by over 2,300 clients, prospects, analysts, advisors and partners. The event highlighted the use of enterprise data to bridge the gap between strategy and operations and make AI real. A replay can be found here.
    • Rohit Kapoor named chairman, Vikram Pandit transitioned to lead director; Thomas Bartlett appointed to EXL's board of directors and will serve on the board's audit committee and nominating and governance committee.
    • Vikas Bhalla and Vivek Jetley named president of EXL in addition to their current roles of head of insurance and head of analytics, respectively.
    • EXL entered into an accelerated share repurchase agreement to repurchase $125 million of the company's common stock as part of its current $500 million stock repurchase program.

    2024 Guidance

    Based on current visibility, and a U.S. dollar to Indian rupee exchange rate of 83.50, U.K. pound sterling to U.S. dollar exchange rate of 1.27, U.S. dollar to the Philippine peso exchange rate of 57.50 and all other currencies at current exchange rates, we are providing the following guidance for the full year 2024:

    • Revenue of $1.79 billion to $1.82 billion, representing an increase of 10% to 12% on both a reported and constant currency basis from 2023.
    • Adjusted diluted earnings per share of $1.58 to $1.62, representing an increase of 10% to 13% from 2023.

    Conference Call

    ExlService Holdings, Inc. will host a conference call on Thursday, May 2, 2024 at 10:00 A.M. ET to discuss the Company's quarterly operating and financial results. The conference call will be available live via the internet by accessing the investor relations section of EXL's website at ir.exlservice.com, where an accompanying investor-friendly spreadsheet of historical operating and financial data can also be accessed. Please access the website at least fifteen minutes prior to the call to register, download and install any necessary audio software.

    Please note that there is a new system to access the live call-in order to ask questions. To join the live call, please register here. A dial-in and unique PIN will be provided to join the call. For those who cannot access the live broadcast, a replay will be available on the EXL website ir.exlservice.com for a period of twelve months.

    About ExlService Holdings, Inc.

    EXL (NASDAQ:EXLS) is a leading data analytics and digital operations and solutions company. We partner with clients using a data and AI-led approach to reinvent business models, drive better business outcomes and unlock growth with speed. EXL harnesses the power of data, analytics, AI, and deep industry knowledge to transform operations for the world's leading corporations in industries including insurance, healthcare, banking and financial services, media and retail, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have more than 55,000 employees spanning six continents. For more information, visit www.exlservice.com.

    Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL's operations and business environment, all of which are difficult to predict and many of which are beyond EXL's control. Forward-looking statements include information concerning EXL's possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as "may," "will," "should," "believe," "expect," "anticipate," "intend," "plan," "estimate" or similar expressions. These statements are based on assumptions that we have made in light of management's experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL's actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors, which include our ability to maintain and grow client demand, our ability to hire and retain sufficiently trained employees, and our ability to accurately estimate and/or manage costs, rising interest rates, rising inflation and recessionary economic trends, are discussed in more detail in EXL's filings with the Securities and Exchange Commission, including EXL's Annual Report on Form 10-K. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by applicable law.

     
    EXLSERVICE HOLDINGS, INC.

    CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

    (In thousands, except per share amount and share count)
     
     Three months ended March 31,
      2024   2023 
    Revenues, net$436,507  $400,643 
    Cost of revenues(1) 273,424   251,469 
    Gross profit(1) 163,083   149,174 
    Operating expenses:   
    General and administrative expenses 53,243   46,746 
    Selling and marketing expenses 35,970   29,493 
    Depreciation and amortization expense 12,346   13,487 
    Total operating expenses 101,559   89,726 
    Income from operations 61,524     59,448 
    Foreign exchange gain, net 359   105 
    Interest expense (3,291)  (3,385)
    Other income, net 3,952   3,155 
    Income before income tax expense and earnings from equity affiliates 62,544   59,323 
    Income tax expense 13,753   8,058 
    Income before earnings from equity affiliates 48,791   51,265 
    Gain/(loss) from equity-method investment (28)  66 
    Net income attributable to ExlService Holdings, Inc. stockholders$48,763  $51,331 
    Earnings per share attributable to ExlService Holdings, Inc. stockholders:   
    Basic$0.30  $0.31 
    Diluted$0.29  $0.30 
    Weighted-average number of shares used in computing earnings per share attributable to ExlService Holdings Inc. stockholders:   
    Basic 165,082,387   167,197,820 
    Diluted 166,726,853   169,657,400 
    (1) Exclusive of depreciation and amortization expense.
     



     
    EXLSERVICE HOLDINGS, INC.

    CONSOLIDATED BALANCE SHEETS (UNAUDITED)

    (In thousands, except per share amount and share count)
     
      As of
      March 31, 2024 December 31, 2023
         
    Assets    
    Current assets:    
    Cash and cash equivalents $108,565  $136,953 
    Short-term investments  137,585   153,881 
    Restricted cash  4,291   4,062 
    Accounts receivable, net  335,523   308,108 
    Other current assets  78,753   76,669 
    Total current assets  664,717   679,673 
    Property and equipment, net  101,622   100,373 
    Operating lease right-of-use assets  66,799   64,856 
    Restricted cash  4,376   4,386 
    Deferred tax assets, net  91,840   82,927 
    Goodwill  405,574   405,639 
    Other intangible assets, net  47,080   50,164 
    Long-term investments  4,404   4,430 
    Other assets  52,979   49,524 
    Total assets $1,439,391  $1,441,972 
    Liabilities and stockholders' equity    
    Current liabilities:    
    Accounts payable $3,093  $5,055 
    Current portion of long-term borrowings  65,000   65,000 
    Deferred revenue  16,939   12,318 
    Accrued employee costs  50,970   117,137 
    Accrued expenses and other current liabilities  107,059   112,900 
    Current portion of operating lease liabilities  13,486   12,780 
    Income taxes payable, net  4,894   1,213 
    Total current liabilities  261,441   326,403 
    Long-term borrowings, less current portion  280,000   135,000 
    Operating lease liabilities, less current portion  59,876   58,175 
    Deferred tax liabilities, net  1,435   1,495 
    Other non-current liabilities  33,384   31,462 
    Total liabilities  636,136   552,535 
    Commitments and contingencies    
    ExlService Holdings, Inc. Stockholders' equity:    
    Preferred stock, $0.001 par value; 15,000,000 shares authorized, none issued  —   — 
    Common stock, $0.001 par value; 400,000,000 shares authorized, 204,734,988 shares issued and 162,425,610 shares outstanding as of March 31, 2024 and 203,410,038 shares issued and 165,277,880 shares outstanding as of December 31, 2023  204   203 
    Additional paid-in capital  502,827   508,028 
    Retained earnings  1,132,426   1,083,663 
    Accumulated other comprehensive loss  (130,436)  (127,040)
    Total including shares held in treasury  1,505,021   1,464,854 
    Less: 42,309,378 shares as of March 31, 2024 and 38,132,158 shares as of December 31, 2023, held in treasury, at cost  (701,766)  (575,417)
    Total Stockholders' equity  803,255   889,437 
    Total liabilities and stockholders' equity  $1,439,391  $1,441,972 
     



    EXLSERVICE HOLDINGS, INC.

    Reconciliation of Adjusted Financial Measures to GAAP Measures

    In addition to its reported operating results in accordance with U.S. generally accepted accounting principles (GAAP), EXL has included in this release certain financial measures that are considered non-GAAP financial measures, including the following:

     (i) Adjusted operating income and adjusted operating income margin;
     (ii) Adjusted EBITDA and adjusted EBITDA margin;
     (iii) Adjusted net income and adjusted diluted earnings per share; and
     (iv) Revenue growth on constant currency basis.
     

    These non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles, should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and may be different from non-GAAP financial measures used by other companies. Accordingly, the financial results calculated in accordance with GAAP and reconciliations from those financial statements should be carefully evaluated. EXL believes that providing these non-GAAP financial measures may help investors better understand EXL's underlying financial performance. Management also believes that these non-GAAP financial measures, when read in conjunction with EXL's reported results, can provide useful supplemental information for investors analyzing period-to-period comparisons of the Company's results and comparisons of the Company's results with the results of other companies. Additionally, management considers some of these non-GAAP financial measures to determine variable compensation of its employees. The Company believes that it is unreasonably difficult to provide its earnings per share financial guidance in accordance with GAAP, or a qualitative reconciliation thereof, for a number of reasons, including, without limitation, the Company's inability to predict its future stock-based compensation expense under ASC Topic 718, the amortization of intangibles associated with future acquisitions and the currency fluctuations and associated tax effects. As such, the Company presents guidance with respect to adjusted diluted earnings per share. The Company also incurs significant non-cash charges for depreciation that may not be indicative of the Company's ability to generate cash flow.

    EXL non-GAAP financial measures exclude, where applicable, stock-based compensation expense, amortization of acquisition-related intangible assets, provision for litigation matters, effects of termination of leases, certain defined social security contributions, allowance for certain material expected credit losses, other acquisition-related expenses or benefits and effect of any non-recurring tax adjustments. Acquisition-related expenses or benefits include, changes in the fair value of contingent consideration, external deal costs, integration expenses, direct and incremental travel costs and non-recurring benefits or losses. Our adjusted net income and adjusted diluted EPS also excludes the effects of income tax on the above pre-tax items, as applicable. The effects of income tax of each item is calculated by applying the statutory rate of the local tax regulations in the jurisdiction in which the item was incurred.

    A limitation of using non-GAAP financial measures versus financial measures calculated in accordance with GAAP is that non-GAAP financial measures do not reflect all of the amounts associated with our operating results as determined in accordance with GAAP and exclude costs that are recurring, namely stock-based compensation and amortization of acquisition-related intangible assets. EXL compensates for these limitations by providing specific information regarding the GAAP amounts excluded from non-GAAP financial measures to allow investors to evaluate such non-GAAP financial measures.

    EXL's primary exchange rate exposure is with the Indian rupee, the U.K. pound sterling and the Philippine peso. The average exchange rate of the U.S. dollar against the Indian rupee increased from 82.25 during the quarter ended March 31, 2023 to 83.12 during the quarter ended March 31, 2024, representing a depreciation of 1.1% against the U.S. dollar. The average exchange rate of the U.S. dollar against the Philippine peso increased from 54.78 during the quarter ended March 31, 2023 to 56.24 during the quarter ended March 31, 2024, representing a depreciation of 2.7% against the U.S. dollar. The average exchange rate of the U.K. pound sterling against the U.S. dollar increased from 1.23 during the quarter ended March 31, 2023 to 1.27 during the quarter ended March 31, 2024, representing an appreciation of 3.2% against the U.S. dollar.

    The following table shows the reconciliation of these non-GAAP financial measures for the three months ended March 31, 2024 and March 31, 2023, and the three months ended December 31, 2023:

     
    Reconciliation of Adjusted Operating Income and Adjusted EBITDA

    (Amounts in thousands)
     
      Three months ended
      March 31, December 31,
       2024   2023   2023 
    Net Income (GAAP) $48,763  $51,331  $40,283 
    add: Income tax expense  13,753   8,058   15,763 
    add/(subtract): Foreign exchange gain, net, interest expense, gain/(loss) from equity-method investment and other income/(loss), net  (992)  59   (1,780)
    Income from operations (GAAP) $61,524  $59,448  $54,266 
    add: Stock-based compensation expense  17,852   14,407   15,452 
    add: Amortization of acquisition-related intangibles  3,080   4,149   3,168 
    subtract: Reversal for expected credit losses (a)  —   —   (264)
    add/(subtract): Other expenses/(benefits) (b)  —   (89)  895 
    Adjusted operating income (Non-GAAP) $82,456  $77,915  $73,517 
    Adjusted operating income margin as a % of Revenue (Non-GAAP)  18.9%  19.4%  17.8%
    add: Depreciation on long-lived assets  9,266   8,589   9,130 
    Adjusted EBITDA (Non-GAAP) $91,722  $86,504  $82,647 
    Adjusted EBITDA margin as a % of revenue (Non-GAAP)  21.0%  21.6%  20.0%
     
    (a) To exclude the effects of reversal for expected credit losses on accounts receivable related to a customer bankruptcy event.



    (b) To exclude effects of lease termination of $nil and $89 during the three months ended March 31, 2024 and 2023 respectively, and to exclude provision for litigation of $895 during the three months ended December 31, 2023.
     



     
    Reconciliation of Adjusted Net Income and Adjusted Diluted Earnings Per Share

    (Amounts in thousands, except per share data)
     
      Three months ended
      March 31, December 31,
       2024   2023   2023 
    Net income (GAAP) $48,763  $51,331  $40,283 
    add: Stock-based compensation expense  17,852   14,407   15,452 
    add: Amortization of acquisition-related intangibles  3,080   4,149   3,168 
    subtract: Reversal for expected credit losses (a)  —   —   (264)
    subtract: Changes in fair value of contingent consideration  (589)  —   (600)
    add/(subtract): Other expenses/(benefits) (b)  —   (89)  613 
    subtract: Tax impact on stock-based compensation expense (c)  (5,358)  (9,830)  (374)
    subtract: Tax impact on amortization of acquisition-related intangibles  (766)  (1,023)  (792)
    add: Tax impact on reversal for expected credit losses  —   —   65 
    add: Tax impact on changes in fair value of contingent consideration  151   —   152 
    add/(subtract): Tax impact on other expenses/(benefits)  —   22   (157)
    add: Other tax expenses (d)  —   —   223 
    Adjusted net income (Non-GAAP) $63,133  $58,967  $57,769 
    Adjusted diluted earnings per share (Non-GAAP) $0.38  $0.35  $0.35 
     
    (a) To exclude the effects of reversal for expected credit losses on accounts receivable related to a customer bankruptcy event.



    (b) To exclude effects of lease termination of $nil and $89 during the three months ended March 31, 2024 and 2023 respectively, and to exclude provision for litigation matters of $613 during the three months ended December 31, 2023.



    (c) Tax impact includes $7,523 and $12,520 during the three months ended March 31, 2024 and 2023 respectively, and $1,883 during the three months ended December 31, 2023, related to discrete benefit recognized in income tax expense in accordance with ASU No. 2016-09, Compensation - Stock Compensation.



    (d) To exclude other tax expenses related to certain deferred tax assets and liabilities.
     

    Contacts:

    Investor Relations

    John Kristoff

    Vice President, Investor Relations

    +1 212 209 4613

    [email protected]

    Media

    Keith Little

    Senior Manager, Media Relations

    +1 703 598 0980

    [email protected]



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    • ExlService upgraded by Jefferies with a new price target

      Jefferies upgraded ExlService from Hold to Buy and set a new price target of $42.00 from $35.00 previously

      9/9/24 7:33:07 AM ET
      $EXLS
      Business Services
      Consumer Discretionary
    • ExlService upgraded by Wedbush with a new price target

      Wedbush upgraded ExlService from Neutral to Outperform and set a new price target of $40.00 from $34.00 previously

      5/8/24 7:28:26 AM ET
      $EXLS
      Business Services
      Consumer Discretionary
    • ExlService upgraded by Citigroup with a new price target

      Citigroup upgraded ExlService from Neutral to Buy and set a new price target of $36.00 from $29.00 previously

      1/17/24 7:14:18 AM ET
      $EXLS
      Business Services
      Consumer Discretionary

    $EXLS
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    • EXL Reports 2025 First Quarter Results

      2025 First Quarter Revenue of $501.0 Million, up 14.8% year-over-yearQ1 Diluted EPS (GAAP) (1) of $0.40, up 38.3% from $0.29 in Q1 of 2024Q1 Adjusted Diluted EPS (Non-GAAP) (1) of $0.48, up 26.9% from $0.38 in Q1 of 2024 NEW YORK, April 29, 2025 (GLOBE NEWSWIRE) -- ExlService Holdings, Inc. (NASDAQ:EXLS), a global data and AI company, today announced its financial results for the quarter ended March 31, 2025. Chairman and Chief Executive Officer Rohit Kapoor said, "We are pleased with our first quarter results and strong start to the year, as we delivered revenue and adjusted diluted EPS growth of 15% and 27% respectively. Our strong business momentum underscores the successful execution

      4/29/25 4:01:00 PM ET
      $EXLS
      Business Services
      Consumer Discretionary
    • EXL Schedules First Quarter 2025 Financial Results Conference Call

      NEW YORK, April 10, 2025 (GLOBE NEWSWIRE) -- ExlService Holdings, Inc. (NASDAQ:EXLS), a global data and AI company, will release financial results for the first quarter ended March 31, 2025, on Tuesday, April 29, 2025, after the market closes. An earnings news release, investor fact sheet and presentation will be published on the company's investor relations website offering an overview of the financial results. The company will host a conference call at 10:00 a.m. EDT the following day, Wednesday, April 30, 2025, with Chairman and Chief Executive Officer Rohit Kapoor and Executive Vice President and Chief Financial Officer Maurizio Nicolelli, who will provide insights into the company's

      4/10/25 3:16:02 PM ET
      $EXLS
      Business Services
      Consumer Discretionary
    • EXL Reports 2024 Fourth Quarter and Year-End Results; Issues 2025 Guidance

      2024 Fourth Quarter Revenue of $481.4 Million, up 16.3% year-over-yearQ4 Diluted EPS (GAAP) of $0.31, up 28.4% from $0.24 in Q4 of 2023Q4 Adjusted Diluted EPS (Non-GAAP) (1) of $0.44, up 26.1% from $0.35 in Q4 of 2023 2024 Revenue of $1.84 Billion, up 12.7% year-over-year2024 Diluted EPS (GAAP) of $1.21, up 10.0% from $1.10 in 20232024 Adjusted Diluted EPS (Non-GAAP) (1) of $1.65, up 15.4% from $1.43 in 2023 NEW YORK, Feb. 25, 2025 (GLOBE NEWSWIRE) -- ExlService Holdings, Inc. (NASDAQ:EXLS), a global data and AI company, today announced its financial results for the quarter and full year ended December 31, 2024. Rohit Kapoor, chairman and chief executive officer, said, "As we executed o

      2/25/25 4:01:00 PM ET
      $EXLS
      Business Services
      Consumer Discretionary

    $EXLS
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    • EXL to participate in upcoming investor conferences

      NEW YORK, May 08, 2025 (GLOBE NEWSWIRE) -- ExlService Holdings, Inc. (NASDAQ:EXLS), a leading data and AI company, today announced Maurizio Nicolelli, executive vice president, chief financial officer, and John Kristoff, vice president, head investor relations, are expected to participate at the following investor conferences: 20th Annual Needham Technology, Media, & Consumer 1x1 Conference, Monday, May 12, 2025, VirtualTD Cowen 53nd Annual Technology, Media & Telecom Conference, Thursday, May 29, 2025, New York, NY, (presentation at 10:50 AM EDT)Baird 2025 Global Consumer, Technology & Services Conference, Thursday, June 5, 2025, New York, NY (presentation at 2:00 PM EDT)Live audio webca

      5/8/25 8:48:14 AM ET
      $EXLS
      Business Services
      Consumer Discretionary
    • EXL named a Leader and Star Performer in Everest Group Payment Integrity Solutions PEAK Matrix® Assessment 2025

      NEW YORK, May 05, 2025 (GLOBE NEWSWIRE) -- EXL (NASDAQ:EXLS), a global data and AI company, announced that it has been named a Leader and Star Performer in the Everest Group Payment Integrity Solutions PEAK Matrix® Assessment 2025. The Everest Group cites EXL's diverse, adaptable payment integrity solution engagement models, which are integrated with generative AI, natural language processing and machine learning as key drivers of their performance. Using robust data and advanced technology, EXL is able to offer end-to-end payment integrity outcomes for enhanced claim validation, fraud detection and coverage gap analysis. "Transparency, trust and technology have become the cornerstones o

      5/5/25 10:32:41 AM ET
      $EXLS
      Business Services
      Consumer Discretionary
    • EXL Reports 2025 First Quarter Results

      2025 First Quarter Revenue of $501.0 Million, up 14.8% year-over-yearQ1 Diluted EPS (GAAP) (1) of $0.40, up 38.3% from $0.29 in Q1 of 2024Q1 Adjusted Diluted EPS (Non-GAAP) (1) of $0.48, up 26.9% from $0.38 in Q1 of 2024 NEW YORK, April 29, 2025 (GLOBE NEWSWIRE) -- ExlService Holdings, Inc. (NASDAQ:EXLS), a global data and AI company, today announced its financial results for the quarter ended March 31, 2025. Chairman and Chief Executive Officer Rohit Kapoor said, "We are pleased with our first quarter results and strong start to the year, as we delivered revenue and adjusted diluted EPS growth of 15% and 27% respectively. Our strong business momentum underscores the successful execution

      4/29/25 4:01:00 PM ET
      $EXLS
      Business Services
      Consumer Discretionary