ExlService Holdings Files Q3 2024 10-Q

TL;DR

EXLS Q3 24 10-Q filed. Financials and ops details out.

AI Summary

ExlService Holdings, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter of 2024. Key financial figures and business segment information are presented, reflecting the company's ongoing activities and strategic positioning in the business services sector.

Why It Matters

This filing provides investors and analysts with the latest financial and operational data for ExlService Holdings, Inc., crucial for understanding the company's performance and future outlook.

Risk Assessment

Risk Level: medium — The filing is a standard quarterly report, but the inherent risks of the business services sector and the company's specific operations contribute to a medium risk profile.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
• 2024-10-30 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• ExlService Holdings, Inc. (company) — Filer of the 10-Q report
• 2024-09-30 (date) — End of the reporting period
• 2024-10-30 (date) — Filing date of the report
• 320 PARK AVENUE, 29TH FLOOR, NEW YORK, NY 10022 (address) — Company's business and mailing address

FAQ

Key Financial Figures

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

Filing Documents

• exls-20240930.htm (10-Q) — 2284KB
• exls-ex311x09302024x10q.htm (EX-31.1) — 10KB
• exls-ex312x09302024x10q.htm (EX-31.2) — 10KB
• exls-ex321x09302024x10q.htm (EX-32.1) — 5KB
• exls-ex322x09302024x10q.htm (EX-32.2) — 5KB
• 0001297989-24-000011.txt ( ) — 13056KB
• exls-20240930.xsd (EX-101.SCH) — 84KB
• exls-20240930_cal.xml (EX-101.CAL) — 138KB
• exls-20240930_def.xml (EX-101.DEF) — 341KB
• exls-20240930_lab.xml (EX-101.LAB) — 912KB
• exls-20240930_pre.xml (EX-101.PRE) — 717KB
• exls-20240930_htm.xml (XML) — 2478KB

Financial Information

Part I. Financial Information 3 1. FINANCIAL STATEMENTS (UNAUDITED) Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 3 Consolidated Statements of Income for the Three and Nine Months Ended September 30, 2024 and 2023 4 Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended September 30, 2024 and 2023 5 Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended September 30, 2024 and 2023 6 Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 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 55 4. Controls and Procedures 55

Other Information

Part II. Other Information 55 1. Legal Proceedings 55 1A. Risk Factors 55 2. Unregistered Sales of Equity Securities and Use of Proceeds 55 3. Defaults Upon Senior Securities 56 4. Mine Safety Disclosures 56 5. Other Information 56 6. Exhibits 57

Signatures

Signatures 58 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 September 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents 7 $ 150,102 $ 136,953 Short-term investments 8 175,648 153,881 Restricted cash 7 7,342 4,062 Accounts receivable, net 4 340,904 308,108 Other current assets 11 93,693 76,669 Total current assets 767,689 679,673 Property and equipment, net 9 107,395 100,373 Operating lease right-of-use assets 21 71,796 64,856 Restricted cash 7 5,820 4,386 Deferred tax assets, net 22 106,881 82,927 Goodwill 10 427,663 405,639 Other intangible assets, net 10 51,291 50,164 Long-term investments 8 14,184 4,430 Other assets 12 57,113 49,524 Total assets $ 1,609,832 $ 1,441,972 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 4,082 $ 5,055 Current portion of long-term borrowings 18 4,891 65,000 Deferred revenue 12,472 12,318 Accrued employee costs 110,677 117,137 Accrued expenses and other current liabilities 13 105,159 114,113 Current portion of operating lease liabilities 21 16,904 12,780 Total current liabilities 254,185 326,403 Long-term borrowings, less current portion 18 339,828 135,000 Operating lease liabilities, less current portion 21 62,336 58,175 Deferred tax liabilities, net 22 3,245 1,495 Other non-current liabilities 14 42,675 31,462 Total liabilities 702,269 552,535 Commitments and contingencies 25 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, 205,317,002 shares issued and 160,880,592 shares outstanding as of September 30, 2024 and 203,410,038 shares issued and 165,277,880 shares outstanding as of December 31, 2023 19 205 203 Additional paid-in capital 572,430 508,028 Retained earnings 1,231,288 1,083,663 Accumulated other comprehensiv

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View this 10-Q filing on SEC EDGAR