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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 (XELA) has completed a $100 million at-the-market equity program initiated on May 27, 2021, and has launched an additional $150 million program. The net proceeds will be used for debt retirement, corporate purposes, development programs, and general and administrative expenses. The offering, following an effective shelf registration statement, is intended to enhance Exela's operational capacity and financial health. The company serves over 4,000 customers globally, leveraging its technology and expertise.
Exela Technologies has launched its Digital Mailroom (DMR) platform for small and medium businesses (SMBs) in the UK, responding to the increasing remote work trend. The platform allows users to receive digitised documents via a virtual office address, enhancing flexibility and ease of communication. DMR offers various features, including eSignature and data redaction, along with flexible pricing plans. With over 4,000 clients globally, including many Fortune 100 companies, Exela aims to support businesses of all sizes with this innovative solution.
Exela Technologies, Inc. (NASDAQ: XELA) announced the rollout of its EON Robotic Process Automation (RPA) platform for a significant health insurance client, enhancing digital transformation by automating claims processing. This partnership, built over 16 years, aims to reduce processing times and increase operational efficiency. Exela is committed to expanding its PCH Global capabilities, providing a cloud-hosted solution with advanced data analytics. The company serves over 4,000 clients globally and remains focused on integrating healthcare relationships into its scalable networks.
Exela Technologies, Inc. (NASDAQ: XELA) hosted a fireside chat webcast on June 11, 2021, featuring CFO Shrikant Sortur and Head of Strategy Matt Brown, moderated by Josh Siegler of Cantor Fitzgerald. The discussion emphasized business process automation (BPA) and the company's global reach, serving over 4,000 customers in 50 countries, including more than 60% of the Fortune 100. The webcast is available for viewing for 30 days.
Exela Technologies (NASDAQ: XELA) has been recognized as a Leader in NelsonHall’s 2021 Healthcare Payer BPS NEAT Vendor Evaluation, excelling in Overall Capability, Plan Design & Enrollment, Member Services, and Operations Transformation. The company was also rated as a High Achiever in Claims & Billing and Provider Management. Exela's PCH Global platform aims to simplify healthcare claims management through intelligent automation, ultimately lowering costs for stakeholders. This acknowledgment highlights Exela's commitment to innovative solutions in the healthcare sector.
Exela Technologies has announced the expansion of its partnership with a major specialty care services insurance carrier, enhancing its PCH Global platform's capabilities. This collaboration aims to connect 27,000 unique providers to streamline claims management, correspondence, and payment processes. The deployment will support approximately 3,800 specialists and is expected to improve transparency while reducing costs in behavioral health claims. Exela's ongoing investments in this cloud-based solution are designed to enhance scalability, uptime, and data analytics for the healthcare sector.
Exela Technologies (NASDAQ: XELA) has announced a significant expansion of its PCH Global platform, increasing its provider network by over 100%. The deployment now encompasses over 35,000 healthcare providers and hospital systems, enhancing digital transformation for a major US health insurance company's TPA division. This move aims to streamline healthcare claims processing, reduce administrative costs, and improve payment transparency. The expansion is part of Exela's strategy to migrate healthcare relationships to its cloud network, ensuring scalability and improved data analytics.
Exela Technologies reported Q1 2021 revenue of $300.1 million, down 17.9% year-over-year, with an operating income of $4.3 million. Despite a net loss of $39.2 million, adjusted EBITDA rose 4.7% to $46.5 million. The company is pleased with operational improvements and strong growth in its SMB business, with DMR customers and DrySign users increasing by 117% and 170% respectively. Exela maintains its 2021 guidance, projecting revenues between $1.25 to $1.39 billion.
Exela Technologies (NASDAQ:XELA) will host a conference call on May 4, 2021, at 11:00 a.m. ET to discuss its first quarter 2021 results. CEO Ron Cogburn and CFO Shrikant Sortur will lead the call, which will include a question-and-answer session. A press release detailing the results will be issued prior to the call. For those unable to attend, a replay will be available until May 11, 2021. Exela, a leader in business process automation, serves over 4,000 customers globally, enhancing quality and productivity.
Exela Technologies reported its preliminary financial results for Q4 and FY 2020, achieving revenue of $314.1 million in Q4, down 20.2% year-over-year, with a net loss of $88.9 million. Full-year revenue was $1.29 billion, a 17.3% decline, with improved operating loss of $16.4 million compared to $321.2 million in 2019. Exela is focusing on cost savings of $174 million and anticipates a liquidity boost of $26.8 million. The company added $182 million in Annual Contract Value (ACV) and projects revenue between $1.25 billion and $1.39 billion for 2021.
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