ExlService Holdings, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>ExlService Holdings, Inc. has submitted its 2023 annual report (10-K) detailing its financial performance and operations for the fiscal year ending December 31, 2023.</b>

AI Summary

ExlService Holdings, Inc. (EXLS) filed a Annual Report (10-K) with the SEC on February 29, 2024. ExlService Holdings, Inc. filed its 2023 Form 10-K on February 29, 2024. The company's fiscal year ends on December 31st. The filing covers the period from January 1, 2023, to December 31, 2023. ExlService Holdings, Inc. is incorporated in Delaware. The company's principal business address is 320 Park Avenue, New York, NY 10022.

Why It Matters

For investors and stakeholders tracking ExlService Holdings, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of ExlService Holdings, Inc.'s financial health, strategic initiatives, and risk factors for the fiscal year 2023, crucial for investors and stakeholders to assess the company's performance and future outlook. The detailed financial statements and disclosures within the 10-K are essential for understanding the company's revenue streams, profitability, and balance sheet strength, enabling informed investment decisions.

Risk Assessment

Risk Level: medium — ExlService Holdings, Inc. shows moderate risk based on this filing. The filing is a standard 10-K, which is a routine annual disclosure. However, the specific financial performance and any new risk factors detailed within the report will determine the actual risk level for investors.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis in the 10-K to understand the drivers of revenue and profitability for fiscal year 2023.

Key Numbers

• 2023-12-31 — Fiscal Year End (Fiscal year end date)
• 2024-02-29 — Filing Date (Date the 10-K was filed)
• 2023-01-01 — Reporting Period Start (Start date of the reporting period)
• 2023-12-31 — Reporting Period End (End date of the reporting period)

Key Players & Entities

• ExlService Holdings, Inc. (company) — Filer name
• 320 Park Avenue (location) — Business address
• New York (location) — Business address city
• DE (location) — State of incorporation

FAQ

Industry Context

ExlService Holdings operates in the business services sector, providing data and analytics-driven insights and solutions.

Regulatory Implications

The filing adheres to the regulations set forth by the Securities and Exchange Commission (SEC) for annual reporting by public companies.

What Investors Should Do

1. Analyze the revenue and net income figures for fiscal year 2023.
2. Examine any disclosed changes in the company's debt-to-equity ratio.
3. Review the risk factors section for any new or evolving business risks.

Key Dates

• 2024-02-29: 10-K Filing — Annual report submission for fiscal year 2023.

Year-Over-Year Comparison

This is the initial filing analyzed for the current period. Comparison to prior filings will be possible once those are processed.

Key Financial Figures

• $0.001 — ch Registered: Common Stock, par value $0.001 per share EXLS NASDAQ Securities regi

Filing Documents

• exls-20231231.htm (10-K) — 2715KB
• exls-ex42x12312023x10k.htm (EX-4.2) — 32KB
• exls-ex211x12312023x10xk.htm (EX-21.1) — 18KB
• exl-ex231x12x31x2023x10xk.htm (EX-23.1) — 3KB
• exls-ex311x12312023x10k.htm (EX-31.1) — 10KB
• exls-ex312x12312023x10k.htm (EX-31.2) — 10KB
• exls-ex321x12312023x10k.htm (EX-32.1) — 5KB
• exls-ex322x12312023x10k.htm (EX-32.2) — 5KB
• exls-ex97x12312023x10k.htm (EX-97) — 14KB
• exls-20231231_g1.jpg (GRAPHIC) — 62KB
• 0001297989-24-000003.txt (&nbsp;) — 16138KB
• exls-20231231.xsd (EX-101.SCH) — 98KB
• exls-20231231_cal.xml (EX-101.CAL) — 177KB
• exls-20231231_def.xml (EX-101.DEF) — 448KB
• exls-20231231_lab.xml (EX-101.LAB) — 1220KB
• exls-20231231_pre.xml (EX-101.PRE) — 909KB
• exls-20231231_htm.xml (XML) — 2949KB

Risk Factors

ITEM 1A. Risk Factors 13

Unresolved Staff Comments

ITEM 1B. Unresolved Staff Comments 24

Cybersecurity

ITEM 1C. Cybersecurity 24

Properties

ITEM 2. Properties 25

Legal Proceedings

ITEM 3. Legal Proceedings 26

Mine Safety Disclosures

ITEM 4. Mine Safety Disclosures 26 PART II.

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

ITEM 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 27

[Reserved]

ITEM 6. [Reserved] 29

Management's Discussion and Analysis of Financial Condition and Results of Operations

ITEM 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 30

Quantitative and Qualitative Disclosures About Market Risk

ITEM 7A. Quantitative and Qualitative Disclosures About Market Risk 47

Financial Statements and Supplementary Data

ITEM 8. Financial Statements and Supplementary Data 49

Changes in and Disagreement with Accountants on Accounting and Financial Disclosure

ITEM 9. Changes in and Disagreement with Accountants on Accounting and Financial Disclosure 49

Controls and Procedures

ITEM 9A. Controls and Procedures 49

Other Information

ITEM 9B. Other Information 50

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

ITEM 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 50 PART III.

Directors, Executive Officers and Corporate Governance

ITEM 10. Directors, Executive Officers and Corporate Governance 50

Executive Compensation

ITEM 11. Executive Compensation 50

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

ITEM 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 51

Certain Relationships and Related Transactions, and Director Independence

ITEM 13. Certain Relationships and Related Transactions, and Director Independence 51

Principal Accountant Fees and Services

ITEM 14. Principal Accountant Fees and Services 51 PART IV.

Exhibits and Financial Statement Schedules

ITEM 15. Exhibits and Financial Statement Schedules 51

Form 10-K Summary

ITEM 16. Form 10-K Summary 51

SIGNATURES

SIGNATURES 52 EXHIBIT INDEX 53 INDEX TO CONSOLIDATED FINANCIAL STATEMENTS F- 1 Table of Contents

Business

ITEM 1. Business ExlService Holdings, Inc. ("EXL," "we," "us," "our" or the "Company"), incorporated in Delaware in 2002, 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, artificial intelligence ("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 approximately 54,000 employees spanning six continents. We deliver data analytics and digital operations and solutions to our clients, driving enterprise-scale business transformation initiatives that leverage our deep expertise in advanced analytics, AI, generative AI and cloud technology. Data, AI, analytics and digital have become core to virtually every significant move a business makes to serve customers, optimize business processes, stay competitive and grow. Our vision of being an indispensable partner for data and AI-led businesses reflects the long-term priorities of our clients' businesses across industry sectors, and we continue to evolve our offerings to drive business outcomes through advanced analytics and AI-powered solutions on the cloud. Our data and AI-led value creation framework enables better and faster decision making, leveraging our end-to-end data, analytics, AI capabilities and deep industry knowledge to drive improved business outcomes, and re-designing of operating models to integrate advanced technology into operational workflows. We embed digital operations and solutions into clients' businesses and introduce our data and AI-led approach to transform operations with every new eng

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View this 10-K filing on SEC EDGAR