ExlService Holdings, Inc. (EXLS) SEC Filings & Earnings Calls
EquiReason read 16 ExlService Holdings, Inc. SEC filings in the last 12 months. Latest: 8-K on 2026-09-02 — Resignation of President and Head of Insurance, Healthcare and Life Sciences Vivek Jetley, effective Oct 26, 2026, to pursue external opportunity. No disagreement with company; dut.
Source: SEC EDGAR filings · figures as of 2026-06-30 · read by EquiReason
- Market cap
- 6.4B
- P/E TTM
- 26.8
- Dividend yield
- —
- 52-week
- —
- Next earnings
- 27 Oct, in 3 days
Every filing, read
last 12 months · SECWhat happened, the numbers inside, guidance and risks. The original is one click away.
2 Sep 20268-K · 5.02Resignation of President and Head of Insurance, Healthcare and Life Sciences Vivek Jetley, effective Oct 26, 2026, to pursue external opportunity. No disagreement with company; duties to be assumed by other management.open
Risks flagged
Loss of a senior leader in key segment, but orderly transition and no disagreement mitigate risk.
“President and Head of Insurance, Healthcare and Life Sciences resigning; duties assumed by other management.” · word for word
18 Aug 20268-K · 1.01, 1.02, 2.03, 7.01EXL closed a new $1B senior secured credit facility with PNC Bank, replacing a $600M facility; includes $400M term loan and $600M revolver, maturing Aug 2031. No early termination penalties on prior facility.open
Figures in the filing · each found in the filing text
| New credit facility size · 2026-08-18 | $1.00B | |
| Term loan amount · 2026-08-18 | $400M | |
| Revolver capacity · 2026-08-18 | $600M | |
| Previous facility repaid · 2026-08-18 | $533M | |
| Share repurchase authorization · 2026-08-18 | $500M |
Risks flagged
Increased leverage from new debt facility
“New $1B facility increases total debt capacity; $532.7M drawn to repay prior facility.”
28 Jul 202610-QExlService reported strong Q2 2026 revenue growth of 15.6% YoY and announced the acquisition of iMerit for $170M to expand AI capabilities.earningsopen
Figures in the filing · each found in the filing text
| Revenue · Q2-2026 | $595M | +16% y/y |
| Revenue · H1-2026 | $1.17B | +15% y/y |
Risks flagged
Client concentration risk
“Top 10 clients accounted for 34.1% of revenue in Q2 2026; loss of any could have material adverse effect.”
Integration risk from acquisition
“Acquisition of iMerit for $170M upfront plus earnouts; integration may pose risks.”
28 Jul 20268-K · 2.02Revenue $595M (+16% y/y); Adjusted diluted EPS $0.59 (+22% y/y); Diluted EPS (GAAP) $0.42 (+5% y/y); Guidance: Revenue guidance raised to $2.390B-$2.415B from $2.30B-$2.33B; adjusted EPS to $2.25-$2.29 from $2.18-$2.23earningsopen
Figures in the filing · each found in the filing text
| Revenue · Q2-2026 | $595M | +16% y/y |
| Adjusted diluted EPS · Q2-2026 | $0.59 | +22% y/y |
| Diluted EPS (GAAP) · Q2-2026 | $0.42 | +5% y/y |
| Insurance segment revenue · Insurance · Q2-2026 | $198M | |
| Healthcare and Life Sciences segment revenue · Healthcare and Life Sciences · Q2-2026 | $158M | |
| Banking, Capital Markets and Diversified Industries segment revenue · Banking, Capital Markets and Diversified Industries · Q2-2026 | $134M | |
| International Growth Markets segment revenue · International Growth Markets · Q2-2026 | $105M |
Guidance
Revenue guidance raised to $2.390B-$2.415B from $2.30B-$2.33B; adjusted EPS to $2.25-$2.29 from $2.18-$2.23
Raised full-year guidance on strong Q2 performance and healthy pipeline; organic growth guidance increased to 13-14%.
Risks flagged
Integration risk from iMerit acquisition; expected to close July 31, 2026.
“EXL agreed to acquire iMerit... expected to close on July 31, 2026”
Currency risk from international operations; guidance assumes specific FX rates.
“Based on current visibility, and a U.S. dollar to Indian rupee exchange rate of 95.0” · word for word
24 Jun 20268-K · 8.01Upfront cash consideration $170M; Maximum earnout consideration $140Mopen
Figures in the filing · each found in the filing text
| Upfront cash consideration · Q3-2026 | $170M | |
| Maximum earnout consideration · FY2028 | $140M |
Risks flagged
Integration risk; earnout milestones may not be achieved; antitrust approval required.
“Transaction subject to customary closing conditions including antitrust; earnouts contingent on milestones.”
12 May 20268-K · 5.02, 8.01Annual base salary 447,761; target bonus percentage 90; initial equity grant fair market value 1,791,044open
Figures in the filing · each found in the filing text
| annual base salary · FY2026 | $447761.00 | |
| target bonus percentage · FY2026 | 90.0% | |
| initial equity grant fair market value · FY2026 | $2M |
28 Apr 20268-K · 2.02Revenue $570M (+14% y/y); Adjusted diluted EPS $0.58 (+20% y/y); Diluted EPS (GAAP) $0.43 (+6% y/y); Guidance: Revenue guidance raised to $2.30B-$2.33B from $2.275B-$2.315B; adjusted EPS guidance raised to $2.18-$2.23 from $2.14-$2.19earningsopen
Figures in the filing · each found in the filing text
| Revenue · Q1-2026 | $570M | +14% y/y |
| Adjusted diluted EPS · Q1-2026 | $0.58 | +20% y/y |
| Diluted EPS (GAAP) · Q1-2026 | $0.43 | +6% y/y |
| Insurance segment revenue · Insurance · Q1-2026 | $194M | +13% y/y |
| Healthcare and Life Sciences segment revenue · Healthcare and Life Sciences · Q1-2026 | $152M | +21% y/y |
| Banking, Capital Markets and Diversified Industries segment revenue · Banking, Capital Markets and Diversified Industries · Q1-2026 | $127M | +8% y/y |
| International Growth Markets segment revenue · International Growth Markets · Q1-2026 | $97M | +13% y/y |
| New clients won · Q1-2026 | 16 |
Guidance
Revenue guidance raised to $2.30B-$2.33B from $2.275B-$2.315B; adjusted EPS guidance raised to $2.18-$2.23 from $2.14-$2.19
Raised full-year 2026 guidance on strong Q1 performance and business momentum, with revenue growth of 10-12% and adjusted EPS growth of 12-14%.
Risks flagged
Macroeconomic uncertainty could impact client spending
“While we remain prudent given the evolving macro-economic environment” · word for word
28 Apr 202610-QRevenue $570M (+14% y/y)open
Figures in the filing · each found in the filing text
| Revenue · Q1-2026 | $570M | +14% y/y |
27 Apr 2026DEF 14AExlService Holdings filed its 2026 proxy statement (DEF 14A) for the annual shareholder meeting.open
Figures in the filing · each found in the filing text
| Net income (GAAP) · FY2025 | $251M | +27% y/y |
| Adjusted net income (Non-GAAP) · FY2025 | $317M | +17% y/y |
| Adjusted diluted earnings per share (Non-GAAP) · FY2025 | $1.95 | +18% y/y |
| Stock-based compensation expense · FY2025 | $79M | +9% y/y |
18 Mar 20268-K · 1.01, 5.02ExlService entered a $125M accelerated share repurchase under a $500M board authorization, signaling capital return commitment.open
Figures in the filing · each found in the filing text
| Share repurchase amount · Q1-2026 | $125M | |
| Share repurchase authorization · FY2026 | $500M | |
| Initial shares delivered · Q1-2026 | 3,346,720 |
Risks flagged
ASR transaction uses cash on hand and credit facility, potentially reducing financial flexibility.
“The Company is funding the share repurchase under the ASR Transaction using cash on hand and borrowings under its existing credit facility.” · word for word
24 Feb 20268-K · 2.02Revenue $543M (+13% y/y); Adjusted diluted EPS $0.50 (+15% y/y); Revenue $2.09B (+14% y/y); Guidance: Revenue guidance $2.275-2.315B (+9-11% YoY); adj. EPS $2.14-2.19 (+10-12% YoY).earningsopen
Figures in the filing · each found in the filing text
| Revenue · Q4-2025 | $543M | +13% y/y |
| Adjusted diluted EPS · Q4-2025 | $0.50 | +15% y/y |
| Revenue · FY2025 | $2.09B | +14% y/y |
| Adjusted diluted EPS · FY2025 | $1.95 | +18% y/y |
Guidance
Revenue guidance $2.275-2.315B (+9-11% YoY); adj. EPS $2.14-2.19 (+10-12% YoY).
FY2026 guidance implies continued double-digit growth; management confident in AI-driven momentum.
Risks flagged
Competition in AI services; execution risk on growth.
“Dependence on AI adoption; competitive market.”
24 Feb 202610-KRevenue $2.09B (+14% y/y); Gross Margin 38.4; Operating Cash Flow $351M (+31% y/y); Guidance: Capex guided $50M-$55M for FY2026open
Figures in the filing · each found in the filing text
| Revenue · FY2025 | $2.09B | +14% y/y |
| Gross Margin · FY2025 | 38.4% | |
| Operating Cash Flow · FY2025 | $351M | +31% y/y |
| Capital Expenditure · FY2025 | $53M | |
| Days Sales Outstanding · FY2025 | 60 | -3% y/y |
| Insurance Revenue · Insurance · FY2025 | $711M | +8% y/y |
| Healthcare and Life Sciences Revenue · Healthcare and Life Sciences · FY2025 | $533M | +24% y/y |
| Banking, Capital Markets and Diversified Industries Revenue · Banking, Capital Markets and Diversified Industries · FY2025 | $482M | +13% y/y |
| International Growth Markets Revenue · International Growth Markets · FY2025 | $362M | +12% y/y |
Guidance
Capex guided $50M-$55M for FY2026
No explicit revenue or margin guidance; capex guidance indicates continued investment in growth and technology.
Risks flagged
Wage Inflation in Offshore Locations
“wages for comparably skilled employees are increasing at a faster rate than in the United States, the United Kingdom and Europe” · word for word
Client Concentration
“We earn a substantial portion of our revenues from a limited number of clients that are mainly located in the United States” · word for word
Cyber Threat Landscape
“cyberattacks could spread globally, showcases the increasing sophistication of cyber threats” · word for word
15 Dec 20258-K · 8.01Shares repurchased 1,551,970; aggregate purchase price $63Mopen
Figures in the filing · each found in the filing text
| shares repurchased · 2025-12-15 | 1,551,970 | |
| aggregate purchase price · 2025-12-15 | $63M |
28 Oct 20258-K · 2.02Revenue $530M (+12% y/y); Adjusted Diluted EPS $0.48 (+11% y/y); Insurance Revenue $180M (+8% y/y); Guidance: Revenue guidance raised to $2.07-2.08B (13% YoY growth); adjusted diluted EPS raised to $1.88-1.92 (14-16% YoY growth).earningsopen
Figures in the filing · each found in the filing text
| Revenue · Q3-2025 | $530M | +12% y/y |
| Adjusted Diluted EPS · Q3-2025 | $0.48 | +11% y/y |
| Insurance Revenue · Insurance · Q3-2025 | $181M | +9% y/y |
| Healthcare and Life Sciences Revenue · Healthcare and Life Sciences · Q3-2025 | $135M | +22% y/y |
| Banking, Capital Markets and Diversified Industries Revenue · Banking, Capital Markets and Diversified Industries · Q3-2025 | $121M | +12% y/y |
| International Growth Markets Revenue · International Growth Markets · Q3-2025 | $93M | +8% y/y |
Guidance
Revenue guidance raised to $2.07-2.08B (13% YoY growth); adjusted diluted EPS raised to $1.88-1.92 (14-16% YoY growth).
Full-year guidance raised for both revenue and adjusted EPS, reflecting strong momentum and confidence in continued double-digit growth driven by AI and data analytics.
Risks flagged
Currency fluctuations could impact reported results; guidance assumes specific exchange rates.
“Based on current visibility, and a U.S. dollar to Indian rupee exchange rate of 87.5, U.K. pound sterling to U.S. dollar exchange rate of 1.33” · word for word
28 Oct 202510-QExlService reported Q3 2025 revenue of $529.6M (+12.2% YoY), net income of $58.2M (+9.7% YoY), and gross margin expansion of 70bps to 38.5%, driven by strong demand across all segments, particularly Healthcare and Life Sciences and Data andearningsopen
Figures in the filing · each found in the filing text
| Revenue · Q3-2025 | $530M | +12% y/y |
| Net Income · Q3-2025 | $58M | +10% y/y |
| Gross Margin · Q3-2025 | 38.5% | |
| Operating Cash Flow · 9M-2025 | $233M | +43% y/y |
| Data and AI-led Revenue · Q3-2025 | $298M | +18% y/y |
| Digital Operations Revenue · Q3-2025 | $231M | +6% y/y |
| Insurance Revenue · Insurance · Q3-2025 | $181M | +9% y/y |
| Healthcare and Life Sciences Revenue · Healthcare and Life Sciences · Q3-2025 | $135M | +22% y/y |
| Banking, Capital Markets and Diversified Industries Revenue · Banking, Capital Markets and Diversified Industries · Q3-2025 | $121M | +12% y/y |
| International Growth Markets Revenue · International Growth Markets · Q3-2025 | $93M | +8% y/y |
Guidance
FY2025 capex guided $50-55M
Management reaffirmed positive outlook with continued investment in digital and AI capabilities, supported by strong revenue growth and margin expansion.
Risks flagged
Client concentration risk
“Although we continue to develop relationships with new clients to diversify our client base, we believe that the loss of any of our top ten clients could have a material adverse effect on our financial performance.” · word for word
Foreign exchange risk
“We recorded a foreign exchange loss, net of $1.0 million for the three months ended September 30, 2025, compared to a foreign exchange gain, net of $0.3 million for the three months ended September 30, 2024.” · word for word
Tax litigation risk
“The aggregate amount demanded by Indian tax authorities (net of advance payments) as of September 30, 2025 and December 31, 2024 is $46,645 and $49,588, respectively.” · word for word
ExlService Holdings, Inc. — questions
- What did ExlService Holdings, Inc. file recently?
- 16 SEC filings in the last 12 months. Latest: 8-K on 2026-09-02 — Resignation of President and Head of Insurance, Healthcare and Life Sciences Vivek Jetley, effective Oct 26, 2026, to pursue external opportunity. No disagreement with company; duties to be assumed by other management.
Every figure on this page comes from ExlService Holdings, Inc.'s own SEC filings — see them on SEC EDGAR. Price data is licensed and shown only inside the product.
How these figures are read: methodology · EquiReason.