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Dec 31, 2023
ExlService Q4 2023 Earnings Report
ExlService's Q4 2023 performance demonstrated revenue growth and increased EPS, driven by strategic investments in data and AI capabilities.
Key Takeaways
ExlService reported a 10.5% year-over-year increase in revenue, reaching $414.1 million for Q4 2023. Diluted EPS increased by 28.2% to $0.24, and adjusted diluted EPS rose by 11.3% to $0.35. The company's full-year revenue grew by 15.5% to $1.63 billion, with diluted EPS up 29.9% to $1.10 and adjusted diluted EPS up 19.1% to $1.43.
Q4 revenue increased by 10.5% year-over-year to $414.1 million.
Q4 diluted EPS (GAAP) increased by 28.2% year-over-year to $0.24.
Q4 adjusted diluted EPS (Non-GAAP) increased by 11.3% year-over-year to $0.35.
The company issued 2024 revenue guidance of $1.78 billion to $1.82 billion and adjusted diluted EPS guidance of $1.56 to $1.62.
ExlService
ExlService
ExlService Revenue by Segment
Revenue by Segment
Insurance Revenue
CapyFin.comHealthcare and Life Sciences Revenue
CapyFin.com Forward Guidance
EXL anticipates revenue between $1.78 billion and $1.82 billion, representing a 9% to 12% increase year-over-year. Adjusted diluted EPS is expected to be in the range of $1.56 to $1.62, reflecting a 9% to 13% increase over 2023.
Positive Outlook
- Revenue of $1.78 billion to $1.82 billion, representing an increase of 9% to 12% on a reported basis, and constant currency basis, from 2023
- Adjusted diluted earnings per share of $1.56 to $1.62, representing an increase of 9% to 13% from 2023
- New collaboration with AWS for developing and delivering generative AI solutions
- Established a new collaboration with Microsoft to co-develop and accelerate generative AI solutions
- Board of Directors authorized a $500 million common stock repurchase program
Challenges Ahead
- Challenging macro-economic environment
- Lower demand across the IT services industry
- Economic uncertainty heading into 2024
- Inability to predict its future stock-based compensation expense under ASC Topic 718
- Inability to predict the amortization of intangibles associated with future acquisitions and the currency fluctuations and associated tax effects
Revenue & Expenses
Visualization of income flow from segment revenue to net income