Exela Earnings Reports

Exela Technologies reported a decrease in revenue but an increase in gross margin for Q2 2024. The company experienced an operating loss compared to an operating profit in Q2 2023, while the net loss improved year-over-year. The revenue for the quarter was $245.7 million, a 10.0% decrease compared to the previous year. Gross margin increased to 23.5%, up 120 bps year-over-year. Operating loss was $2.4 million, compared to an $11.2 million operating profit in the prior year. Net loss was $26.9 million, an improvement of $4.0 million year-over-year.

Exela Technologies reported that 2023 was a challenging year with a focus on stabilizing revenues and recovering from the effects of the network outage in 2022. The company made significant improvements to its balance sheet, eliminating current liabilities and reducing overall debt and interest expense. Investments were made late in the year to position the company for future growth in cybersecurity, data modernization, cloud, and Infrastructure-as-a-Service.

Exela Technologies reported a Q3 2022 operating loss of $47.5 million, compared to an operating income of $2.4 million in Q3 2021. The company raised $67.6 million in gross proceeds from equity offerings. Total debt increased by $18.6 million compared to Q2 2022.

Exela Technologies reported its Q2 2022 financial results, highlighting a capital deployment strategy focused on debt reduction and growth investments, with $58.2 million raised from equity offerings and a $118 million reduction in total debt compared to Q1 2022.

Exela Technologies reported its financial results for the fourth quarter and full year ended December 31, 2021. The company met its latest revenue expectations for the full year 2021 and produced higher gross profit dollars despite lower year-over-year revenue. The completion of the debt exchange offer reduced the overall amount of debt and will substantially reduce debt interest expense.

Exela Technologies reported third-quarter results with a focus on executing its strategy to speed up capital deployment, debt reduction, and cash flow improvement. The company's SMB business showed robust growth globally, and it expects further improvements in margins and cash flow in 2022.

Exela Technologies reported strong margin expansion in Q2 2021, driven by a focus on core businesses and operational improvements. The company is pleased with the rapid growth of its digital solutions for the SMB market and reported $158 million in liquidity, exceeding targets while reducing outstanding debt. The company reiterated its prior 2021 guidance.

Exela Technologies reported its Q3 2020 financial results, with revenue of $305.3 million. The company's adjusted EBITDA margin increased, and it continues to execute its plan for value creation amid the COVID-19 pandemic.

Exela Technologies reported first quarter 2020 results with revenue above the high-end of their previously announced range. The company expects the COVID-19 pandemic to impact 2020 performance but believes it is well-positioned to navigate the uncertain environment.

Exela Technologies reported its Q4 and full year 2019 results, highlighting a 1.5% increase in revenue excluding LMCE and pass-through revenues for Q4. The company achieved its revised full-year 2019 guidance, with revenue above the high end of the guidance range. The company is focusing on growing its base business in core industries and improving its financial position through debt reduction and liquidity improvement initiatives.