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Dec 31, 2021
Exela Q4 2021 Earnings Report
Exela reported preliminary Q4 and full year 2021 financial results.
Key Takeaways
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 raised a total of $407 million in gross proceeds from equity offerings.
Exela repurchased or repaid an aggregate principal amount of $438.8 million of its debt as of December 31, 2021 resulting in a year-over-year reduction in our Long-term debt of $454 million.
Exela expects its annual operating cash flow to improve by approximately $50 million in 2022.
Exela exchanged all such shares of Common Stock for a total of 883,844 shares of Series B Preferred Stock.
Forward Guidance
Exela expects further improvements within its underlying business that will lead to additional improvements in margins and cash flow in future periods. Exela plans to continue working on expanding its financial flexibility with the objective to improve consolidated cash flows from all activities.
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