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. (XELA) delivers business process automation solutions to enterprises worldwide. This news hub provides investors and stakeholders with direct access to official communications, financial disclosures, and strategic developments from the digital transformation leader.
Our curated collection features essential updates including quarterly earnings reports, technology partnerships, and operational milestones. Track Exela's progress in enhancing enterprise workflows through its proprietary automation platforms and cloud-enabled solutions.
Discover timely information on product innovations, client acquisitions, and industry-specific deployments across banking, healthcare, and legal sectors. All content is sourced directly from company filings and press releases to ensure reliability.
Bookmark this page for streamlined access to Exela's latest business developments. Monitor how the company continues to optimize mission-critical processes for global enterprises through its integrated digital transformation solutions.
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.
Exela Technologies has entered into agreements with institutional investors for the purchase of 9,731,819 shares of common stock at $2.75 each, along with warrants for the same number of shares at an exercise price of $4.00. The offering is set to raise approximately $26.8 million before expenses and is expected to close around March 18, 2021. Exela will file a resale registration statement with the SEC by May 3, 2021, to register the shares and warrants. The securities offered are unregistered, and this will not constitute a public offering.
Exela Technologies has launched a 10-year, $90 million venture utilizing its PCH Global platform to enhance digital transformation for a major US health insurance company. This marks Exela's debut in the healthcare sector, enabling large-scale deployment of its digital exchange platform for processing complex health insurance claims. The partnership builds on over $28 million in revenue in 2020, with an aim to migrate existing healthcare relationships to its cloud network, improving scalability and analytics.
On February 24, 2021, Exela Technologies (NASDAQ: XELA) announced its participation in a fireside chat at 11:00 a.m. ET, hosted by Cowen analyst Bryan Bergin. Key executives, including Chairman Par Chadha and CEO Ron Cogburn, will discuss Exela’s Bill and Payments Exchange (XBP). An archived version of the chat and presentation slides will be available on the Company’s website for a limited time. Exela, a leader in business process automation, serves over 4,000 customers in 50 countries, including a substantial number of Fortune 100 companies.
Exela Technologies (NASDAQ: XELA) has launched the IntelliScan Raptor scanner, a high-speed scanning solution capable of processing up to 240 pages per minute. The Raptor is designed for mid to high volume document handling, making it suitable for various sectors including banking and healthcare. It combines affordability, superior image quality, and flexible paper handling. Manufactured in the US and Asia, Exela plans to support the Raptor through its global service organizations and reseller partners, enhancing its document digitization offerings.
Exela Technologies, Inc. (NASDAQ: XELA) announced on February 10, 2021, that it has regained compliance with the minimum bid price requirement set by Nasdaq, following a letter received on February 9, 2021. This compliance is crucial for maintaining its listing on the exchange. Exela, a leader in business process automation, serves over 4,000 clients in 50 countries, providing integrated technology and operations solutions across various industries.
Exela Technologies (NASDAQ: XELA) received an extension from the Nasdaq Hearings Panel to meet the $1.00 bid price requirement for continued listing. The Company must maintain a closing bid price of at least $1.00 for ten consecutive business days by February 8, 2021. Exela faced a compliance issue and requested a hearing, which resulted in the extension. CEO Ronald Cogburn expressed optimism about the Company’s progress and initiatives, including partnerships with Mastercard/Vocalink and new customer acquisitions.
