Second Quarter Highlights ● Revenue of $36.1 million, down 14.8% year-over-year (14.2% on a constant currency basis)● Gross margin declined to 18.4%, a 630 bps decrease sequentially and 920 bps decrease year-over-year● Net loss of $4.7 million includes $0.7 million of FX losses ● Active revenue ramp of approximately $25 million in ACV (Annual Contract Value)● Completed a comprehensive financing transaction with HSBC to provide up to $33 million of incremental liquidity LONDON and SANTA MONICA, Calif., Aug. 12, 2024 (GLOBE NEWSWIRE) -- XBP Europe Holdings, Inc. ("XBP Europe" or the "Company") (NASDAQ:XBP), a pan-European integrator of bills, payments, and related solut
Transaction Refinances Existing Indebtedness and Secures Incremental Liquidity to Fund Growth Financing includes $30 million committed and $18 million accordion feature LONDON, United Kingdom and SANTA MONICA, Calif., June 27, 2024 (GLOBE NEWSWIRE) -- XBP Europe Holdings, Inc. ("XBP Europe" or the "Company") (NASDAQ:XBP), a pan-European integrator of bills, payments, and related solutions and services seeking to enable the digital transformation of its clients, today announced that certain of the Company's subsidiaries have entered into a comprehensive financing agreement with HSBC UK Bank plc ("HSBC"). The new agreement refinances the Company's UK subsidiary's existing indebtedness
First Quarter Highlights ● Revenue of $40.4 million, down 5.7% year-over-year (7.3% on a constant currency basis)● Gross margin grew to 24.6%, a 270 bps increase sequentially and 250 bps increase year-over-year● Net loss of $2.2 million includes $0.8 million of FX losses ● High margin Technology segment grew to 28.4% of revenues, a 120 bps increase sequentially and 690 bps increase year-over-year● Awarded a multi-year contract with His Majesty's Passport Office ("HMPO") for a nationwide project in the UK with a Total Contract Value ("TCV") of approximately $40 million LONDON and SANTA MONICA, Calif., May 13, 2024 (GLOBE NEWSWIRE) -- XBP Europe Holdings, Inc. ("XBP Europe" or t
SC 13D/A - XBP Europe Holdings, Inc. (0001839530) (Subject)
8-K - XBP Europe Holdings, Inc. (0001839530) (Filer)
8-K - XBP Europe Holdings, Inc. (0001839530) (Filer)
10-Q - XBP Europe Holdings, Inc. (0001839530) (Filer)
4 - XBP Europe Holdings, Inc. (0001839530) (Issuer)
4 - XBP Europe Holdings, Inc. (0001839530) (Issuer)
4 - XBP Europe Holdings, Inc. (0001839530) (Issuer)
The new $48 million1 financing agreement consists of: (i) a $4 million Term Loan A facility ("Term Loan A"), (ii) an $11 million Term Loan B facility ("Term Loan B" and, together with Term Loan A, the "Term Loans"), and (iii) a $15 million multicurrency revolving credit facility (the "Revolving Credit Facility"), all at an applicable reference rate plus 3.25%, plus an accordion feature for up to an additional $18 million. The Term Loans have a maturity of four years post completion, while the Revolving Credit Facility has a maturity of three years with an option to extend up to an additional year at HSBC's discretion. The availability of the accordion is subject to HSBC's discretion.