Exela Technologies Continues Velocity of DMR and DrySign Growth in Q4
Exela Technologies (NASDAQ: XELA) reported significant growth in its Digital Mailroom (DMR) and DrySign® services, with DMR customer growth at 44% and DrySign user growth soaring to 135% compared to the prior quarter. The company is expanding its DrySign services into France and Germany in Q1 2022. Additionally, Exela launched Remote Online Notarization (RON), further integrating it with DMR and DrySign. President Suresh Yannamani expressed optimism about continued growth trends as remote operations become more prevalent.
- DMR customer growth increased by 44% in Q4 2021.
- DrySign user growth surged by 135% compared to the previous quarter.
- Expansion into France and Germany planned for Q1 2022.
- Launch of Remote Online Notarization service to enhance product offerings.
- None.
- DMR customer growth and DrySign® user growth continues with DMR growing
44% and DrySign growing135% against prior period - France and Germany slated for DrySign launch in Q1
IRVING, Texas, Jan. 10, 2022 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela” or “the Company”) (NASDAQ: XELA), a global business process automation (“BPA”) leader, today announced that its Digital Mailroom (“DMR”) and DrySign® offerings within the Digital Assets Group (“DAG”) delivered another strong quarter of new customers and users in the fourth quarter of 2021. DMR achieved customer growth of
DrySign had a particularly strong quarter as the uptake in SMBs and individual users accelerated to exceed internal estimates. Growth also accelerated across new geographies and the company is positioned for further expansion into the two largest markets in the EU, France and Germany, this quarter.
During Q4 2021, Exela launched Remote Notarization (“RON”), an online notarization solution. While RON works as a standalone product, it also integrates with DMR and DrySign. The Company continues to onboard notaries daily for RON.
“We are very encouraged by the growth trends in our digital assets group. Enterprise and SMB customers alike continue to embrace DMR and DrySign as the world continues to adapt to a highly remote, online way of operating. We look forward to seeing the benefit of network effects as user growth continues to accelerate,” said Exela’s president, Suresh Yannamani.
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About Exela Technologies
Exela Technologies is a business process automation (BPA) leader, leveraging a global footprint and proprietary technology to provide digital transformation solutions enhancing quality, productivity, and end-user experience. With decades of experience operating mission-critical processes, Exela serves a growing roster of more than 4,000 customers throughout 50 countries, including over
Forward-Looking Statements
Certain statements included in this press release are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "may", "should", "would", "plan", "intend", "anticipate", "believe", "estimate", "predict", "potential", "seem", "seek", "continue", "future", "will", "expect", "outlook" or other similar words, phrases or expressions. These forward-looking statements include statements regarding our industry, future events, estimated or anticipated future results and benefits, future opportunities for Exela, and other statements that are not historical facts. These statements are based on the current expectations of Exela management and are not predictions of actual performance. These statements are subject to a number of risks and uncertainties, including without limitation those discussed under the heading "Risk Factors" in Exela's Annual Report and other securities filings. In addition, forward-looking statements provide Exela's expectations, plans or forecasts of future events and views as of the date of this communication. Exela anticipates that subsequent events and developments will cause Exela's assessments to change. These forward-looking statements should not be relied upon as representing Exela's assessments as of any date subsequent to the date of this press release.
Investor and/or Media Contacts:
Vincent Kondaveeti
E: vincent.kondaveeti@exelatech.com
Mary Beth Benjamin
FAQ
What were Exela Technologies' growth rates for its Digital Mailroom and DrySign services in Q4 2021?
In which countries is Exela planning to launch DrySign services in Q1 2022?
What new service did Exela launch to enhance their offerings?
