ExlService Holdings, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>ExlService Holdings, Inc. filed its Q1 2024 10-Q report, detailing financial performance across its business segments.</b>

AI Summary

ExlService Holdings, Inc. (EXLS) filed a Quarterly Report (10-Q) with the SEC on May 2, 2024. ExlService Holdings, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. Key financial data for the periods ending March 31, 2024, December 31, 2023, and March 31, 2023, are included. Segment data for Insurance, HealthCare, Emerging Business, Analytics, and Digital Operations & Solutions Services is presented for Q1 2024 and Q1 2023. The company's principal executive offices are located at 320 Park Avenue, New York, NY.

Why It Matters

For investors and stakeholders tracking ExlService Holdings, Inc., this filing contains several important signals. This 10-Q provides investors with a quarterly update on ExlService's financial health and operational performance, crucial for assessing investment value. The detailed segment reporting allows for an analysis of growth and contribution from each business area, highlighting strategic focus and potential future drivers.

Risk Assessment

Risk Level: low — ExlService Holdings, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant negative developments.

Analyst Insight

Monitor the segment performance in future filings to identify growth trends and potential shifts in business focus.

Revenue Breakdown

Key Numbers

• 2024-03-31 — Period of Report (Quarterly filing date)
• 2024-05-02 — Filed As Of Date (Date of filing)
• 2024-01-01 — Quarter Start Date (Q1 2024)
• 2023-01-01 — Prior Year Quarter Start Date (Q1 2023)

Key Players & Entities

• ExlService Holdings, Inc. (company) — Filer name
• 2024-03-31 (date) — Period of report
• 2024-05-02 (date) — Filed as of date
• 320 Park Avenue (location) — Business address
• New York (location) — Business address city
• 10022 (location) — Business address zip
• EXLS (ticker) — Ticker symbol

FAQ

Key Dates

• 2024-03-31: Quarter End Date — End of the reporting period for the 10-Q.
• 2024-05-02: Filing Date — Date the 10-Q was officially filed with the SEC.

Key Financial Figures

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

Filing Documents

• exls-20240331.htm (10-Q) — 1697KB
• exls-ex311x03312024x10q.htm (EX-31.1) — 10KB
• exls-ex312x03312024x10q.htm (EX-31.2) — 10KB
• exls-ex321x03312024x10q.htm (EX-32.1) — 5KB
• exls-ex322x03312024x10q.htm (EX-32.2) — 5KB
• 0001297989-24-000005.txt (&nbsp;) — 11330KB
• exls-20240331.xsd (EX-101.SCH) — 81KB
• exls-20240331_cal.xml (EX-101.CAL) — 146KB
• exls-20240331_def.xml (EX-101.DEF) — 308KB
• exls-20240331_lab.xml (EX-101.LAB) — 873KB
• exls-20240331_pre.xml (EX-101.PRE) — 690KB
• exls-20240331_htm.xml (XML) — 2027KB

Financial Information

Part I. Financial Information 3 1. FINANCIAL STATEMENTS (UNAUDITED) Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 3 Consolidated Statements of Income for the Three Months Ended March 31, 2024 and 2023 5 Consolidated Statements of Comprehensive Income for the Three Months Ended March 31, 2024 and 2023 6 Consolidated Statements of Stockholders' Equity for the Three Months Ended March 31, 2024 and 2023 7 Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 8

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 9 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 38 3. Quantitative and Qualitative Disclosures About Market Risk 48 4. Controls and Procedures 48

Other Information

Part II. Other Information 48 1. Legal Proceedings 48 1A. Risk Factors 48 2. Unregistered Sales of Equity Securities and Use of Proceeds 48 3. Defaults Upon Senior Securities 49 4. Mine Safety Disclosures 49 5. Other Information 49 6. Exhibits 51

Signatures

Signatures 52 2 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS EXLSERVICE HOLDINGS, INC. CONSOLIDATED BALANCE SHEETS (UNAUDITED) (In thousands, except per share amount and share count) As of Notes March 31, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents 7 $ 108,565 $ 136,953 Short-term investments 8 137,585 153,881 Restricted cash 7 4,291 4,062 Accounts receivable, net 4 335,523 308,108 Other current assets 11 78,753 76,669 Total current assets 664,717 679,673 Property and equipment, net 9 101,622 100,373 Operating lease right-of-use assets 21 66,799 64,856 Restricted cash 7 4,376 4,386 Deferred tax assets, net 22 91,840 82,927 Goodwill 10 405,574 405,639 Other intangible assets, net 10 47,080 50,164 Long-term investments 8 4,404 4,430 Other assets 12 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 18 65,000 65,000 Deferred revenue 16,939 12,318 Accrued employee costs 50,970 117,137 Accrued expenses and other current liabilities 13 107,059 112,900 Current portion of operating lease liabilities 21 13,486 12,780 Income taxes payable, net 22 4,894 1,213 Total current liabilities 261,441 326,403 Long-term borrowings, less current portion 18 280,000 135,000 Operating lease liabilities, less current portion 21 59,876 58,175 Deferred tax liabilities, net 22 1,435 1,495 Other non-current liabilities 14 33,384 31,462 Total liabilities 636,136 552,535 Commitments and contingencies 25 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 19 204 203 Additional paid-in capital 502,827 508,028 Retained ear

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View this 10-Q filing on SEC EDGAR