Exela Technologies Inc
NASDAQ:XELA
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Exela Technologies Inc
NASDAQ:XELA
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Exela Technologies Inc
Exela Technologies, Inc. engages in the provision of transaction processing solutions and enterprise information management. The company is headquartered in Irving, Texas and currently employs 17,000 full-time employees. The company went IPO on 2015-01-16. Exela’s segments include Information & Transaction Processing Solutions (ITPS), Healthcare Solutions (HS) and Legal & Loss Prevention Services (LLPS). ITPS provides a range of solutions and services designed to aid businesses in information capture, processing, decisioning and distribution to customers primarily in the financial services, commercial, public sector and legal industries. HS operates and maintains a consulting and outsourcing business specializing in both the healthcare provider and payer markets. LLPS segment provides support services, such as bankruptcy labor, claims adjudication and employment and other legal matters. The Company’s technology-enabled solutions allow global organizations to address critical challenges.
Exela Technologies, Inc. engages in the provision of transaction processing solutions and enterprise information management. The company is headquartered in Irving, Texas and currently employs 17,000 full-time employees. The company went IPO on 2015-01-16. Exela’s segments include Information & Transaction Processing Solutions (ITPS), Healthcare Solutions (HS) and Legal & Loss Prevention Services (LLPS). ITPS provides a range of solutions and services designed to aid businesses in information capture, processing, decisioning and distribution to customers primarily in the financial services, commercial, public sector and legal industries. HS operates and maintains a consulting and outsourcing business specializing in both the healthcare provider and payer markets. LLPS segment provides support services, such as bankruptcy labor, claims adjudication and employment and other legal matters. The Company’s technology-enabled solutions allow global organizations to address critical challenges.
Revenue Growth: Exela reported Q3 revenue of $269.2 million, up 6.3% year-over-year.
Gross Margin Pressure: Gross margin fell to 20.2%, down 330 basis points sequentially and 140 basis points year-over-year due to higher postage costs.
Segment Performance: ITPS grew significantly while Healthcare Solutions and LLPS segments declined year-over-year.
Cost Actions: SG&A expenses decreased both year-over-year and sequentially, driven by cost-cutting initiatives.
Net Loss Narrows: Net loss improved by $2 million sequentially to $24.9 million.
NASDAQ Delisting: Exela was delisted from NASDAQ due to market cap, but management says operations are unaffected.
