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ExlService Holdings, Inc.

ExlService Holdings, Inc.

NASDAQ•EXLS
CEO: Mr. Rohit Kapoor
Sector: Technology
Industry: Information Technology Services
Listing Date: 2006-10-20
ExlService Holdings, Inc. operates as a data analytics, and digital operations and solutions company in the United States and internationally. The company operates through Insurance, Healthcare, Analytics, and Emerging Business segments. It also provides digital operations and solutions and analytics-driven services, such as claims processing, premium and benefit administration, agency management, account reconciliation, policy research, underwriting support, new business acquisition, policy servicing, premium audit, surveys, billing and collection, commercial and residential survey, and customer service using digital technology, artificial intelligence, machine learning, and advanced automation; digital customer acquisition services using a software-as-a-service delivery model through LifePRO and LISS platforms; subrogation services; and Subrosource software platform, an end-to-end subrogation platform. In addition, the company offers health care services related to care management, utilization management, disease management, payment integrity, revenue optimization, and customer engagement. Further, it provides financial planning and analysis, management reporting, forecasting and decision support, data management, regulatory reporting and risk, and compliance services; reservations, customer, and fulfilment services; freight billing, collections, claims management, freight audit, freight scheduling, supply chain management, and revenue assurance services; residential mortgage lending, title verification and validation, retail banking and credit cards, trust verification, commercial banking, and investment management; merchandising, pricing, and demand forecasting; and digital operations and solutions. The company offers predictive and prescriptive analytics in the areas of customer acquisition and lifecycle management. ExlService Holdings, Inc. was founded in 1999 and is headquartered in New York, New York.
Contact Information
320 Park Avenue, 29th Floor, New York, NY, 10022, United States
212-277-7100
www.exlservice.com
Market Cap
$6.59B
P/E (TTM)
27.1
19.5
Dividend Yield
--
52W High
$52.43
52W Low
$37.30
52W Range
23%
Rank14Top 1.6%
7.1
F-Score
Modified Piotroski Analysis
Based on 10-year fundamentals
Strong • 7.1 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2015-2024

Financial Dashboard

Q3 2025 Data

Revenue

$529.59M+12.18%
4-Quarter Trend

EPS

$0.36+9.09%
4-Quarter Trend

FCF

$106.36M+9.32%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Nine Month Revenue Growth Revenue reached $1.545B for nine months ended September 30, 2025, showing strong 13.9% growth across all segments.
Net Income Surges Net income surged 29.2% to $190.8M for nine months, driven by operational efficiencies and higher revenues realized.
Strong Cash Generation Operating cash flow provided $233.3M over nine months, reflecting a substantial 43.0% year-over-year increase.
Gross Margin Expansion Gross profit grew 16.5% to $591.5M for nine months, with margin expanding 90 basis points due to efficiencies.

Risk Factors

Top Client Revenue Concentration Top ten clients represent 33.8% of nine-month revenue; loss of any single client poses material financial risk.
Indian Tax Dispute Exposure Ongoing transfer pricing disputes with Indian tax authorities demand aggregate amounts of $46.6M currently.
New Accounting Standard Review Management is evaluating the impact of new ASU 2023-09 on income tax disclosures effective after December 15, 2024.
Third Party Reliance Risk Reliance on third parties for critical services and infrastructure introduces potential operational and data security risks.

Outlook

AI Strategy Realignment Company implemented new IMU structure in Q1 2025 to focus on specialized industry needs and accelerate AI strategy.
Fiscal 2025 Capital Spending Expect total capital expenditures between $50.0M and $55.0M for fiscal 2025 to support growth requirements.
Debt Maturity Profile Long-term borrowings maturity profile shows principal payments due through 2027 under the 2024 Credit Agreement.
Monitoring Global Tax Changes Will continue to monitor Pillar II global minimum tax developments and assess potential future impacts on operations.

Peer Comparison

Revenue (TTM)

Kyndryl Holdings, Inc.KD
$15.07B
-1.5%
Sanmina CorporationSANM
$8.13B
+7.4%
EPAM Systems, Inc.EPAM
$5.30B
+14.3%

Gross Margin (Latest Quarter)

Dolby Laboratories, Inc.DLB
90.3%
+0.9pp
Universal Display CorporationOLED
77.2%
+1.4pp
Waystar Holding Corp.WAY
68.3%
+1.9pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
EPAM$11.25B30.410.1%3.2%
AUR$8.64B-10.5-40.4%4.3%
SANM$8.53B31.811.5%5.1%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
3.2%
Moderate Growth
4Q Net Income CAGR
4.7%
Profitability Slowly Improving
Cash Flow Stability
100%
Strong Cash Flow

Research & Insights

Next earnings:Feb 24, 2026
|
EPS:$0.46
|
Revenue:-
Reports
All Years
  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Oct 28, 2025|
    Revenue: $529.59M+12.2%
    |
    EPS: $0.36+9.1%
    Miss
  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Jul 29, 2025|
    Revenue: $514.46M+14.7%
    |
    EPS: $0.41+46.4%
    Miss
  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: Apr 29, 2025|
    Revenue: $501.02M+14.8%
    |
    EPS: $0.41+36.7%
    Miss
  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 25, 2025|
    Revenue: $1.84B+12.7%
    |
    EPS: $1.22+9.9%
    Beat
  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Oct 30, 2024|
    Revenue: $472.07M+14.9%
    |
    EPS: $0.33+26.9%
    Miss
  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 1, 2024|
    Revenue: $448.37M+10.7%
    |
    EPS: $0.28-3.4%
    Miss
  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 2, 2024|
    Revenue: $436.51M+9.0%
    |
    EPS: $0.30-3.2%
    Miss
  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 29, 2024|
    Revenue: $1.63B+15.5%
    |
    EPS: $1.11+29.1%
    Beat