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Mar 31, 2024
Xbp Europe Holdings Q1 2024 Earnings Report
XBP Europe Holdings reported a decrease in revenue but an increase in gross margin for Q1 2024.
Key Takeaways
XBP Europe Holdings reported a 5.7% year-over-year decrease in revenue, totaling $40.4 million for Q1 2024. Despite the revenue decline, the company saw an increase in gross margin to 24.6%. The Technology segment's revenue grew by 24.3% year-over-year, now representing 28.4% of total revenues. The company also secured a multi-year contract with His Majesty’s Passport Office (HMPO) valued at approximately $40 million.
Revenue decreased by 5.7% year-over-year to $40.4 million.
Gross margin increased to 24.6%, up 250 bps year-over-year.
Net loss was $2.2 million, including $0.8 million in FX losses.
Technology segment revenue increased by 24.3% year-over-year, contributing 28.4% of total revenues.
Xbp Europe Holdings
Xbp Europe Holdings
Forward Guidance
No forward guidance was provided in the earnings report.