Welcome to our dedicated page for EXELA TECHNOLOGIES news (Ticker: XELA), a resource for investors and traders seeking the latest updates and insights on EXELA TECHNOLOGIES stock.
Exela Technologies, Inc. (NASDAQ: XELA) is a global leader in business process automation (BPA), leveraging a vast global footprint and proprietary technology to provide digital transformation solutions. Exela's primary objective is to enhance quality, productivity, and end-user experience through its innovative services. The company has decades of experience in managing mission-critical processes and serves a diverse clientele of over 4,000 customers across 50 countries, including more than 60% of the Fortune 100.
Exela operates through multiple segments: Information and Transaction Processing Solutions (ITPS), Healthcare Solutions (HS), and Legal and Loss Prevention Services (LLPS). The ITPS segment generates the majority of the company's revenue, reflecting Exela’s strength in handling complex information and transaction processes.
Utilizing foundational technologies such as information management, workflow automation, and integrated communications, Exela offers a wide range of software and services. These include multi-industry departmental solution suites that address finance and accounting, human capital management, and legal management, along with industry-specific solutions for banking, healthcare, insurance, and public sectors.
Exela’s cloud-enabled platforms are built on a configurable stack of automation modules, enabling rapid deployment of integrated technology and operations as part of an end-to-end digital journey. The company employs approximately 17,500 individuals operating in 23 countries, ensuring a broad reach and efficient service delivery.
Recent achievements include launching a new Global Business Unit, Reaktr.ai, which focuses on cyber, large data, and generative AI. The goal is to address the rapidly changing industry demands and enhance operational efficiency and innovation for enterprise customers. Led by industry veteran Vineet Chaku, Reaktr.ai is expected to be a significant growth driver for Exela.
Financially, Exela has been working on stabilizing revenues and improving its balance sheet. The company has focused on cost management, leveraging automation, and making strategic investments in cyber security, data modernization, and cloud services. These efforts are aimed at positioning Exela for future growth and improving its overall financial health.
For the latest updates, news, and industry perspectives, visit Exela's investor relations website and follow them on social media:
For investor and media inquiries, contact Vincent Kondaveeti at vincent.kondaveeti@exelatech.com or Mary Beth Benjamin at IR@exelatech.com.
Exela Technologies (NASDAQ: XELA) announced significant advancements in its balance sheet management via a Revolving Loan Exchange and Prepayment Agreement. The company prepaid $50 million of its revolving loan and exchanged the remaining amount for $50 million in 11.500% Senior Secured Notes due in 2026, eliminating senior debt maturities in 2022. This initiative is part of a broader strategy to reduce debt, having already deployed $601 million towards its financial and strategic objectives.
Exela Technologies, Inc. (XELA) announced a strategic investment in UBERDOC, a leading platform connecting patients with doctors for direct-pay services. This partnership aims to enhance patient access and price transparency in healthcare. UBERDOC, currently the largest network of direct-pay specialists in the U.S., will use the investment to expand nationwide, facilitating over 15,000 weekly appointments. The collaboration combines Exela's digital healthcare solutions with UBERDOC’s capabilities, benefiting both companies and their users by improving access to affordable care.
Exela Technologies announced the listing of its 6.00% Series B Cumulative Convertible Perpetual Preferred Stock under the symbol XELAP, effective March 23, 2022. Nasdaq approved the application following an exchange offer where shareholders could convert 20 shares of common stock into one share of Series B Preferred Stock, with a liquidation preference of $25.00 per share. A total of 18,006,560 common shares were accepted in exchange for 900,328 Preferred shares. This move highlights Exela's strategic measures to optimize its capital structure.
Exela Technologies, Inc. (NASDAQ: XELA) has appointed Kevin Lathrop as President of Exela Healthcare Solutions, aimed at enhancing growth in its healthcare sector, which accounted for 23% of revenue in 2021. Lathrop will spearhead the healthcare business strategy and collaborate with leadership to optimize value for customers. This strategic move seeks to bolster Exela's claims processing automation and revenue cycle management services. Suresh Yannamani, President of Exela, highlighted ongoing investments to facilitate growth.
Exela Technologies (NASDAQ: XELA) has announced the launch of ExelaPay following its acquisition of Corduro, Inc., a comprehensive payment processing platform. This strategic move allows Exela to offer integrated payment services, enhancing its existing XBP network capabilities. With Corduro's technology, ExelaPay aims to provide cost-effective transaction processing across various sectors, capturing a larger share of payment processing fees. Robert Ziegler, Corduro's founder, will lead this new unit, which is expected to significantly impact Exela's revenue model.
Exela Technologies reported a 2021 revenue of $1,167 million, meeting guidance but down 9.7% from 2020. The net loss for the year was $142.4 million, an improvement from the previous year. The company anticipates a $50 million cash flow enhancement in 2022 and reduced long-term debt by $454 million. Fourth-quarter revenue totaled $294.3 million, down 6.3% year-over-year. However, DrySign user growth surged by 135%. A conference call is scheduled for March 11, 2022, to discuss these results.
Exela Technologies, Inc. (NASDAQ: XELA) announced the successful completion of its exchange offer, allowing shareholders to convert 20 shares of Common Stock into one share of 6.00% Series B Cumulative Convertible Perpetual Preferred Stock. With the offer expiring on March 10, 2022, a total of 17,676,880 shares of Common Stock were validly tendered. Exela will issue 883,844 shares of Series B Preferred Stock, which may be listed on Nasdaq under the symbol XelaP within 30 days. The preferred shares have a liquidation preference of $25.00 each.
Exela Technologies, Inc. (NASDAQ:XELA) will host a conference call on March 11, 2022 at 2:00 p.m. ET to discuss its fourth quarter and full year 2021 results.
CEO Ron Cogburn and CFO Shrikant Sortur will lead the call, following which a Q&A session will take place. The call is accessible via Exela’s Investor Relations website and will be archived for later viewing.
Investors can subscribe for e-mail alerts to receive Exela's financial news directly.
Exela Technologies (XELA) announced that directors and executives plan to tender over 5 million shares in the upcoming exchange offer, including 1,528,160 shares by Executive Chairman Par Chadha. The exchange offer expires at 11:59 PM on March 10, 2022. Shareholders wishing to participate should instruct their brokers promptly. The offer is detailed in the Amended Offer to Exchange filed with the SEC. Exela, a leader in business process automation, serves over 4,000 customers globally, providing digital transformation solutions.
Exela Technologies, Inc. (NASDAQ: XELA) announced a significant financial restructuring, exchanging its revolving loans for $50 million in cash and $50 million in senior secured notes due 2026. This transaction will cancel all outstanding revolving loans and terminate associated repayment obligations, with closing expected by March 28, 2022. Following this agreement, Exela will have no further debt maturities in 2022. The move aims to enhance liquidity and strengthen the company’s financial position amidst ongoing operational challenges.
FAQ
What is the current stock price of EXELA TECHNOLOGIES (XELA)?
What is the market cap of EXELA TECHNOLOGIES (XELA)?
What does Exela Technologies do?
What are the core segments of Exela Technologies?
Which segment generates the most revenue for Exela?
What industries does Exela serve?
What recent initiatives has Exela undertaken?
Where can I find the latest news about Exela Technologies?
How many employees does Exela Technologies have?
What are some key financial initiatives Exela is focusing on?
How can investors contact Exela Technologies?
Is Exela Technologies listed on any stock exchange?
