ExlService Holdings, Inc 8-K, filed Apr 29, 2025
ExlService Holdings, Inc. (EXLS)
8-K
2025-04-29
For: 2025-04-29
View Original
Added on
April 04, 2026
About this 8-K
ExlService Holdings, Inc filed this 8-K on April 29, 2025.
Items reported
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_________________________________________________________
FORM 8-K
_________________________________________________________
CURRENT REPORT
Pursuant to Sections 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 29, 2025
_________________________________________________________
(Exact name of registrant as specified in its charter)
_________________________________________________________
| (State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||
| (Zip code) | |||||||||||
| (Address of principal executive offices) | |||||||||||
Registrant’s telephone number, including area code: (212 ) 277-7100
NOT APPLICABLE
(Former name or address, if changed since last report)
____________________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter)
| Emerging growth company | |||||
| ☐ | If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act | ||||
| Securities registered pursuant to Section 12(b) of the Act: | ||||||||
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Item 2.02. Results of Operations and Financial Condition.
On April 29, 2025, ExlService Holdings, Inc. (the “Company”) reported its results of operations for the three months ended March 31, 2025. A copy of the press release issued by the Company concerning the foregoing is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.
The information provided in Item 2.02 of this report, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. | Description | |||||||||||||
| 99.1 | ||||||||||||||
| 104 | Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document) | |||||||||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
EXLSERVICE HOLDINGS, INC. (Registrant) | ||||||||
| April 29, 2025 | By: | /s/ Maurizio Nicolelli | ||||||
| Name: | Maurizio Nicolelli | |||||||
| Title: | Chief Financial Officer | |||||||
Exhibit 99.1
EXL REPORTS 2025 FIRST QUARTER RESULTS
2025 First Quarter Revenue of $501.0 Million, up 14.8% year-over-year
Q1 Diluted EPS (GAAP) (1) of $0.40, up 38.3% from $0.29 in Q1 of 2024
Q1 Adjusted Diluted EPS (Non-GAAP) (1) of $0.48, up 26.9% from $0.38 in Q1 of 2024
New York - April 29, 2025 (GLOBE NEWSWIRE) - ExlService Holdings, Inc. (NASDAQ: EXLS), a global data and AI company, today announced its financial results for the quarter ended March 31, 2025.
Chairman and Chief Executive Officer Rohit Kapoor said, “We are pleased with our first quarter results and strong start to the year, as we delivered revenue and adjusted diluted EPS growth of 15% and 27% respectively. Our strong business momentum underscores the successful execution of our differentiated data and AI-led strategy and demonstrates the enduring resilience and adaptability of EXL’s business model.”
Chief Financial Officer Maurizio Nicolelli said, “While we remain prudent in our outlook given the increasing level of macro-economic uncertainty, we are increasing our revenue guidance for the year, based on our business momentum and more favorable currency exchange rates. We now expect revenue to be in the range of $2.035 billion to $2.065 billion, up from our prior guidance of $2.025 billion to $2.060 billion. This represents 11% to 12% year-over-year growth on a reported basis, or 11% to 13% on a constant currency basis. We continue to expect our adjusted diluted earnings per share for 2025 to be in the range of $1.83 to $1.89, representing an 11% to 14% increase over 2024, as we continue to accelerate our data and AI investments to generate future growth.”
______________________________________________________________
1.Reconciliations of adjusted (non-GAAP) financial measures to the most directly comparable GAAP measures, where applicable, are included at the end of this release under “Reconciliation of Adjusted Financial Measures to GAAP Measures.” These non-GAAP measures, including adjusted diluted EPS and constant currency measures, are not measures of financial performance prepared in accordance with GAAP.
Financial Highlights: First Quarter 2025
•Revenue for the quarter ended March 31, 2025, increased to $501.0 million compared to $436.5 million for the first quarter of 2024, an increase of 14.8% on a reported basis and 15.1% on a constant currency basis. Revenue increased by 4.1% sequentially on a reported basis and 4.3% on a constant currency basis, from the fourth quarter of 2024.
| Revenue | Gross Margin | |||||||||||||||||||||||||
| Three months ended | Three months ended | |||||||||||||||||||||||||
Reportable Segments(1) | March 31, 2025 | March 31, 2024 | March 31, 2025 | March 31, 2024 | ||||||||||||||||||||||
| (dollars in millions) | ||||||||||||||||||||||||||
| Insurance | $ | 172.0 | $ | 158.3 | 36.6 | % | 33.8 | % | ||||||||||||||||||
| Healthcare and Life Sciences | 125.6 | 100.7 | 43.9 | % | 45.3 | % | ||||||||||||||||||||
| Banking, Capital Markets and Diversified Industries | 117.7 | 103.2 | 37.3 | % | 36.1 | % | ||||||||||||||||||||
| International Growth Markets | 85.7 | 74.3 | 36.6 | % | 35.9 | % | ||||||||||||||||||||
| Total Revenue, net | $ | 501.0 | $ | 436.5 | 38.6 | % | 37.4 | % | ||||||||||||||||||
(1) In the first quarter of 2025, the Company implemented operational and structural changes to accelerate the execution of its data and AI-led strategy. Under the new structure, the Company reports its financial performance based on new segments presented in the table above, and as described in more detail in its Quarterly Report on Form 10-Q for the three months ended March 31, 2025, that is being filed with the SEC. In conjunction with the new reporting structure, the Company has recast prior period amounts, wherever applicable, to conform to the way the Company internally manages and monitors segment performance.
•Operating income margin for the quarter ended March 31, 2025 was 15.7%, compared to 14.1% for the first quarter of 2024 and 14.8% for the fourth quarter of 2024. Adjusted operating income margin for the quarter ended March 31, 2025 was 20.1%, compared to 18.9% for the first quarter of 2024 and 18.8% for the fourth quarter of 2024.
•Diluted earnings per share for the quarter ended March 31, 2025 was $0.40, compared to $0.29 for the first quarter of 2024 and $0.31 for the fourth quarter of 2024. Adjusted diluted earnings per share for the quarter ended March 31, 2025 was $0.48, compared to $0.38 for the first quarter of 2024 and $0.44 for the fourth quarter of 2024.
Business Highlights: First Quarter 2025
•Won 10 new clients in the first quarter of 2025.
•Named a Leader in four categories in the ISG Provider Lens™ Insurance Services 2024 report. Earning top honors in the North American Life & Retirement, Property & Casualty, Life & Retirement TPA Insurance Services, and Insurance IT Services.
•Named a Leader and a Star Performer in Everest Group’s Life and Annuities Insurance Business Process Services and Third-Party Administrator (TPA) PEAK Matrix® Assessment 2025.
•Recognized as part of Newsweek’s America’s Most Responsible Companies 2025, Forbes’ Most Trusted Companies in America 2025, USA Today's America’s Climate Leaders 2025, and The Financial Times’ Best Employers Asia-Pacific 2025.
2025 Guidance
Based on current visibility, and a U.S. dollar to Indian rupee exchange rate of 85.5, U.K. pound sterling to U.S. dollar exchange rate of 1.30, U.S. dollar to the Philippine peso exchange rate of 57.0 and all other currencies at current exchange rates, we are providing the following guidance for the full year 2025:
•Revenue of $2.035 billion to $2.065 billion, representing an increase of 11% to 12% on a reported basis, and 11% to 13% on a constant currency basis from 2024; and
•Adjusted diluted earnings per share of $1.83 to $1.89, representing an increase of 11% to 14% from 2024.
Conference Call
ExlService Holdings, Inc. will host a conference call on Wednesday, April 30, 2025 at 10:00 A.M. ET to discuss the Company’s quarterly operating and financial results. The conference call will be available live via the internet by accessing the investor relations section of EXL’s website at ir.exlservice.com, where an accompanying investor-friendly spreadsheet of historical operating and financial data can also be accessed. Please access the website at least fifteen minutes prior to the call to register, download and install any necessary audio software.
Please note that there is a new system to access the live call-in order to ask questions. To join the live call, please register here. A dial-in and unique PIN will be provided to join the call. For those who cannot access the live broadcast, a replay will be available on the EXL website ir.exlservice.com for a period of twelve months.
About ExlService Holdings, Inc.
EXL (NASDAQ: EXLS) is a global data and artificial intelligence ("AI") company that offers services and solutions to reinvent client business models, drive better outcomes and unlock growth with speed. EXL harnesses the power of data, AI, and deep industry knowledge to transform businesses, including 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 more than 60,000 employees spanning six continents. For more information, visit www.exlservice.com.
Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL's operations and business environment, all of which are difficult to predict and many of which are beyond EXL’s control. Forward-looking statements include information concerning EXL’s possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as “may,” “will,” “should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are based on assumptions that we have made in light of management's experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL’s actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors, which include our ability to maintain and grow client demand, our ability to hire and retain sufficiently trained employees, and our ability to accurately estimate and/or manage costs, rising interest rates, rising inflation and recessionary economic trends, are discussed in more detail in EXL’s filings with the Securities and Exchange Commission, including EXL’s Annual Report on Form 10-K. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by applicable law.
EXLSERVICE HOLDINGS, INC.
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
(In thousands, except per share amount and share count)
| Three months ended March 31, | |||||||||||
| 2025 | 2024 | ||||||||||
| Revenues, net | $ | 501,019 | $ | 436,507 | |||||||
Cost of revenues (1) | 307,705 | 273,424 | |||||||||
Gross profit (1) | 193,314 | 163,083 | |||||||||
| Operating expenses: | |||||||||||
| General and administrative expenses | 59,417 | 53,243 | |||||||||
| Selling and marketing expenses | 41,925 | 35,970 | |||||||||
| Depreciation and amortization expense | 13,557 | 12,346 | |||||||||
| Total operating expenses | 114,899 | 101,559 | |||||||||
| Income from operations | 78,415 | 61,524 | |||||||||
| Foreign exchange gain, net | 1,192 | 359 | |||||||||
| Interest expense | (4,144) | (3,291) | |||||||||
| Other income, net | 4,703 | 3,952 | |||||||||
| Income before income tax expense and earnings from equity affiliates | 80,166 | 62,544 | |||||||||
| Income tax expense | 13,496 | 13,753 | |||||||||
| Income before earnings from equity affiliates | 66,670 | 48,791 | |||||||||
| Loss from equity-method investment | (109) | (28) | |||||||||
| Net income | $ | 66,561 | $ | 48,763 | |||||||
| Earnings per share: | |||||||||||
| Basic | $ | 0.41 | $ | 0.30 | |||||||
| Diluted | $ | 0.40 | $ | 0.29 | |||||||
| Weighted-average number of shares used in computing earnings per share: | |||||||||||
| Basic | 162,490,179 | 165,082,387 | |||||||||
| Diluted | 164,557,333 | 166,726,853 | |||||||||
(1) Exclusive of depreciation and amortization expense.
EXLSERVICE HOLDINGS, INC.
CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(In thousands, except per share amount and share count)
| As of | ||||||||||||||
| March 31, 2025 | December 31, 2024 | |||||||||||||
| Assets | ||||||||||||||
| Current assets: | ||||||||||||||
| Cash and cash equivalents | $ | 140,442 | $ | 153,355 | ||||||||||
| Short-term investments | 190,978 | 187,223 | ||||||||||||
| Restricted cash | 9,826 | 9,972 | ||||||||||||
| Accounts receivable, net | 339,856 | 304,322 | ||||||||||||
| Other current assets | 150,203 | 140,317 | ||||||||||||
| Total current assets | 831,305 | 795,189 | ||||||||||||
| Property and equipment, net | 107,148 | 101,837 | ||||||||||||
| Operating lease right-of-use assets | 71,150 | 68,784 | ||||||||||||
| Restricted cash | 8,210 | 8,071 | ||||||||||||
| Deferred tax assets, net | 109,953 | 104,747 | ||||||||||||
| Goodwill | 420,494 | 420,387 | ||||||||||||
| Other intangible assets, net | 46,092 | 49,331 | ||||||||||||
| Long-term investments | 20,134 | 13,972 | ||||||||||||
| Other assets | 61,925 | 56,085 | ||||||||||||
| Total assets | $ | 1,676,411 | $ | 1,618,403 | ||||||||||
| Liabilities and stockholders’ equity | ||||||||||||||
| Current liabilities: | ||||||||||||||
| Accounts payable | $ | 5,648 | $ | 5,884 | ||||||||||
| Current portion of long-term borrowings | 4,886 | 4,886 | ||||||||||||
| Deferred revenue | 20,138 | 19,264 | ||||||||||||
| Accrued employee costs | 63,575 | 129,994 | ||||||||||||
| Accrued expenses and other current liabilities | 131,980 | 113,597 | ||||||||||||
| Current portion of operating lease liabilities | 17,426 | 16,491 | ||||||||||||
| Total current liabilities | 243,653 | 290,116 | ||||||||||||
| Long-term borrowings, less current portion | 302,377 | 283,598 | ||||||||||||
| Operating lease liabilities, less current portion | 61,408 | 59,851 | ||||||||||||
| Deferred tax liabilities, net | 1,625 | 1,403 | ||||||||||||
| Other non-current liabilities | 55,471 | 53,573 | ||||||||||||
| Total liabilities | 664,534 | 688,541 | ||||||||||||
| Commitments and contingencies | ||||||||||||||
| 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, 207,758,497 shares issued and 162,683,343 shares outstanding as of March 31, 2025 and 206,510,587 shares issued and 161,801,212 shares outstanding as of December 31, 2024 | 207 | 206 | ||||||||||||
| Additional paid-in capital | 609,592 | 588,583 | ||||||||||||
| Retained earnings | 1,348,521 | 1,281,960 | ||||||||||||
| Accumulated other comprehensive loss | (142,787) | (154,722) | ||||||||||||
| Total including shares held in treasury | 1,815,533 | 1,716,027 | ||||||||||||
Less: 45,075,154 shares as of March 31, 2025 and 44,709,375 shares as of December 31, 2024, held in treasury, at cost | (803,656) | (786,165) | ||||||||||||
| Total Stockholders’ equity | 1,011,877 | 929,862 | ||||||||||||
| Total liabilities and stockholders’ equity | $ | 1,676,411 | $ | 1,618,403 | ||||||||||
EXLSERVICE HOLDINGS, INC.
Reconciliation of Adjusted Financial Measures to GAAP Measures
In addition to its reported operating results in accordance with U.S. generally accepted accounting principles (GAAP), EXL has included in this release certain financial measures that are considered non-GAAP financial measures, including the following:
(i)Adjusted operating income and adjusted operating income margin;
(ii)Adjusted EBITDA and adjusted EBITDA margin;
(iii)Adjusted net income and adjusted diluted earnings per share; and
(iv)Revenue growth on constant currency basis.
These non-GAAP financial measures are not based on any comprehensive set of accounting rules or principles, should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and may be different from non-GAAP financial measures used by other companies. Accordingly, the financial results calculated in accordance with GAAP and reconciliations from those financial statements should be carefully evaluated. EXL believes that providing these non-GAAP financial measures may help investors better understand EXL’s underlying financial performance. Management also believes that these non-GAAP financial measures, when read in conjunction with EXL’s reported results, can provide useful supplemental information for investors analyzing period-to-period comparisons of the Company’s results and comparisons of the Company’s results with the results of other companies. Additionally, management considers some of these non-GAAP financial measures to determine variable compensation of its employees. The Company believes that it is unreasonably difficult to provide its earnings per share financial guidance in accordance with GAAP, or a qualitative reconciliation thereof, for a number of reasons, including, without limitation, the Company’s inability to predict its future stock-based compensation expense under ASC Topic 718, the amortization of intangibles associated with future acquisitions and the currency fluctuations and associated tax effects. As such, the Company presents guidance with respect to adjusted diluted earnings per share. The Company also incurs significant non-cash charges for depreciation that may not be indicative of the Company’s ability to generate cash flow.
EXL non-GAAP financial measures exclude, where applicable, stock-based compensation expense, amortization of acquisition-related intangible assets, provision for litigation matters, effects of termination of leases, certain defined social security contributions, allowance for certain material expected credit losses, other acquisition-related expenses or benefits and effect of any non-recurring tax adjustments. Acquisition-related expenses or benefits include, changes in the fair value of contingent consideration, external deal costs, integration expenses, direct and incremental travel costs and non-recurring benefits or losses. Our adjusted net income and adjusted diluted EPS also excludes the effects of income tax on the above pre-tax items, as applicable. The effects of income tax of each item is calculated by applying the statutory rate of the local tax regulations in the jurisdiction in which the item was incurred.
A limitation of using non-GAAP financial measures versus financial measures calculated in accordance with GAAP is that non-GAAP financial measures do not reflect all of the amounts associated with our operating results as determined in accordance with GAAP and exclude costs that are recurring, namely stock-based compensation and amortization of acquisition-related intangible assets. EXL compensates for these limitations by providing specific information regarding the GAAP amounts excluded from non-GAAP financial measures to allow investors to evaluate such non-GAAP financial measures.
EXL’s primary exchange rate exposure is with the Indian rupee, the Philippine peso, the U.K. pound sterling and the South African rand. The average exchange rate of the U.S. dollar against the Indian rupee increased from 83.12 during the quarter ended March 31, 2024 to 86.52 during the quarter ended March 31, 2025, representing a depreciation of 4.1% against the U.S. dollar. The average exchange rate of the U.S. dollar against the Philippine peso increased from 56.24 during the quarter ended March 31, 2024 to 57.86 during the quarter ended March 31, 2025, representing a depreciation of 2.9% against the U.S. dollar. The average exchange rate of the U.K. pound sterling against the U.S. dollar decreased from 1.27 during the quarter ended March 31, 2024 to 1.26 during the quarter ended March 31, 2025, representing a depreciation of 0.1% against the U.S. dollar. The average exchange
rate of the U.S. dollar against the South African rand decreased from 18.96 during the quarter ended March 31, 2024 to 18.49 during the quarter ended March 31, 2025, representing an appreciation of 2.5% against the U.S. dollar.
The following table shows the reconciliation of these non-GAAP financial measures for the three months ended March 31, 2025 and March 31, 2024, and the three months ended December 31, 2024:
Reconciliation of Adjusted Operating Income and Adjusted EBITDA
(Amounts in thousands)
| Three months ended | ||||||||||||||||||||
| March 31, | December 31, | |||||||||||||||||||
| 2025 | 2024 | 2024 | ||||||||||||||||||
| Net Income (GAAP) | $ | 66,561 | $ | 48,763 | $ | 50,672 | ||||||||||||||
| add: Income tax expense | 13,496 | 13,753 | 19,850 | |||||||||||||||||
| add/(subtract): Foreign exchange gain, net, interest expense, gain/(loss) from equity-method investment and other income/(loss), net | (1,642) | (992) | 720 | |||||||||||||||||
| Income from operations (GAAP) | $ | 78,415 | $ | 61,524 | $ | 71,242 | ||||||||||||||
| add: Stock-based compensation expense | 19,187 | 17,852 | 15,479 | |||||||||||||||||
| add: Amortization of acquisition-related intangibles | 3,246 | 3,080 | 4,024 | |||||||||||||||||
| Adjusted operating income (Non-GAAP) | $ | 100,848 | $ | 82,456 | $ | 90,745 | ||||||||||||||
| Adjusted operating income margin as a % of Revenue (Non-GAAP) | 20.1 | % | 18.9 | % | 18.8 | % | ||||||||||||||
| add: Depreciation on long-lived assets | 10,311 | 9,266 | 12,140 | |||||||||||||||||
| Adjusted EBITDA (Non-GAAP) | $ | 111,159 | $ | 91,722 | $ | 102,885 | ||||||||||||||
| Adjusted EBITDA margin as a % of revenue (Non-GAAP) | 22.2 | % | 21.0 | % | 21.4 | % | ||||||||||||||
Reconciliation of Adjusted Net Income and Adjusted Diluted Earnings Per Share
(Amounts in thousands, except per share data)
| Three months ended | ||||||||||||||||||||
| March 31, | December 31, | |||||||||||||||||||
| 2025 | 2024 | 2024 | ||||||||||||||||||
| Net income (GAAP) | $ | 66,561 | $ | 48,763 | $ | 50,672 | ||||||||||||||
| add: Stock-based compensation expense | 19,187 | 17,852 | 15,479 | |||||||||||||||||
| add: Amortization of acquisition-related intangibles | 3,246 | 3,080 | 4,024 | |||||||||||||||||
| add/(subtract): Changes in fair value of contingent consideration | — | (589) | — | |||||||||||||||||
| add/(subtract): Other tax expense/(benefits) (a) | — | 151 | 3,860 | |||||||||||||||||
| subtract: Tax impact on stock-based compensation expense (b) | (9,105) | (5,358) | (1,769) | |||||||||||||||||
| subtract: Tax impact on amortization of acquisition-related intangibles | (799) | (766) | (921) | |||||||||||||||||
| Adjusted net income (Non-GAAP) | $ | 79,090 | $ | 63,133 | $ | 71,345 | ||||||||||||||
| Adjusted diluted earnings per share (Non-GAAP) | $ | 0.48 | $ | 0.38 | $ | 0.44 | ||||||||||||||
(a) To exclude other tax expenses/(benefits), primarily related to certain deferred tax assets and liabilities.
(b) Tax impact includes $14,526 and $7,523 during the three months ended March 31, 2025 and 2024 respectively, and $500 during the three months ended December 31, 2024, related to discrete benefit recognized in income tax expense in accordance with ASU No. 2016-09, Compensation - Stock Compensation.
Contacts:
Investor Relations
John Kristoff
Vice President, Investor Relations
+1 212 209 4613
ir@exlservice.com
Media - US
Keith Little
Assistant Vice President, Media Relations
+1 703 598 0980
media.relations@exlservice.com