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Mar 31, 2021
ExlService Q1 2021 Earnings Report
EXL had a strong start to the year with increased revenue and adjusted diluted earnings per share.
Key Takeaways
EXL reported a strong first quarter with revenue of $261.4 million, a 6.3% increase year-over-year. Adjusted diluted earnings per share was $1.18, a 46% increase year-over-year. The company is increasing its revenue and adjusted diluted earnings per share guidance for 2021.
First quarter revenue increased to $261.4 million, up 6.3% year-over-year.
Analytics growth accelerated with a 10.7% revenue increase from the first quarter of 2020.
Adjusted diluted earnings per share for the quarter was $1.18, a 46% increase year-over-year.
Company won 14 new clients in the first quarter of 2021, with five in operations management and nine in analytics.
ExlService
ExlService
ExlService Revenue by Segment
Revenue by Segment
Insurance Revenue
CapyFin.comHealthcare and Life Sciences Revenue
CapyFin.com Forward Guidance
EXL is increasing its revenue and adjusted diluted earnings per share guidance for 2021.
Positive Outlook
- Revenue of $1.04 billion to $1.07 billion, representing an increase of 9% to 12% on a reported basis from 2020.
- Revenue of $1.04 billion to $1.07 billion, representing an increase of 8% to 11% on a constant currency basis from 2020.
- Adjusted diluted earnings per share of $4.00 to $4.30, representing an increase of 13% to 22% from 2020.
- Strong first quarter financial results
- Growth momentum in the business
Challenges Ahead
- Significant pandemic related challenges in delivery geographies, particularly in India and the Philippines.
- Inability to predict future stock-based compensation expense under ASC Topic 718
- The amortization of intangibles associated with further acquisitions
- Currency fluctuations
- Associated tax impacts
Revenue & Expenses
Visualization of income flow from segment revenue to net income