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 announced a new contract worth $15.6 million with a leading health organization for payment and explanation of benefits processing, starting in Q4 2020. This contract highlights Exela's innovative PCH Global solution, designed to improve payment processing efficiency and customer experience.
Exela Technologies has launched PCH Global, the first cloud-based claims processing gateway in the healthcare industry, aimed at improving the efficiency of claims submission and processing. This new platform integrates multiple services, minimizing claim denials and expediting payments to healthcare providers. Notably, Exela is recognized as a market leader with the largest client base in healthcare automation, according to Everest’s PEAK Matrix™ Assessment. The solution supports various business models, enhancing liquidity for providers and payers.
Exela Technologies, Inc. (NASDAQ: XELA) has launched the LexiCode Audit Database (LAD) analytics tool, enhancing its coding audit process. This web-based solution provides real-time data entry, tracking accuracy ratings, and generating feedback summaries to improve coding quality and transparency. With its capacity to analyze over 660,000 accounts annually, the LAD tool aims to identify errors and client pain points, supporting customized education for approximately 1,400 coders. CEO Amy Boozer highlighted the tool's potential to provide valuable insights and enhance service quality for clients.
Exela Technologies, Inc. (NASDAQ: XELA) announced a fireside chat featuring CEO Ron Cogburn and CFO Shrikant Sortur at the Credit Suisse 3rd Annual FinTech Conference on August 19, 2020, at 12:10 p.m. ET. The event will be available via live webcast, with an archived version accessible on Exela's Investors page shortly after the discussion. Exela, a leader in business process automation, serves over 4,000 customers across more than 50 countries, leveraging technology to enhance digital transformation in various sectors.
Exela Technologies reported second quarter 2020 revenue of $307.7 million, a 21.3% decline year-over-year. The gross profit margin increased to 21.4%, up 148 basis points from Q1 2020. Operating loss stood at $5.1 million, while net loss was $48.7 million. Adjusted EBITDA was $43.1 million, reflecting a margin of 14.0%. As part of its liquidity improvement plan, Exela sold its records storage business for $12.3 million. The company expects revenue for Q3 2020 between $305 million and $312 million, amid uncertainties due to COVID-19.
Exela Technologies has officially launched DrySign, its proprietary eSignature platform, after a successful beta phase with 3,000 users. The platform enables secure, legally enforceable electronic signatures from anywhere, aiming to facilitate the transition to remote work due to the COVID-19 pandemic. DrySign offers individual and multi-party workflows, document delivery, and is integrated with Exela's existing solutions. It is cloud-enabled, accessible via free trials and subscriptions, and designed to enhance productivity and save costs for users.
Exela Technologies will host a conference call on August 11, 2020, at 11:00 a.m. ET to discuss its second quarter 2020 results. The company will issue a press release prior to the call. Ron Cogburn, CEO, and Shrikant Sortur, CFO, will lead the discussion, followed by a Q&A session. The call will be available for live streaming on Exela’s Investor Relations website. A replay will be accessible until August 18, 2020. Exela, a leader in business process automation, serves over 4,000 clients globally, including over 60% of the Fortune 100.
Exela Technologies (NASDAQ: XELA) has finalized the sale of its physical records storage and logistics business for $12.3 million, which generated approximately $1 million in EBITDA in 2019. This sale is part of Exela's strategy to divest non-core assets, aiming to raise $150 million to $200 million over two years. With this transaction, Exela has now accumulated over $50 million for reinvestment in its core operations, as stated by President Suresh Yannamani, highlighting progress despite a challenging market.
Exela Technologies (NASDAQ: XELA) reported its Q1 2020 financial results, showing a 9.6% decline in revenue to $365.5 million year-over-year. The company experienced an operating loss of $2.2 million and a net loss of $12.7 million, though this was an improvement over last year's loss. Adjusted EBITDA fell to $44.4 million, marking a 42% decrease from 2019. Exela forecasts Q2 2020 revenue between $300 million and $305 million, anticipating $35 million to $40 million in COVID-19 related impacts. The company has undertaken debt reduction initiatives to improve liquidity.
Exela Technologies, Inc. (NASDAQ:XELA) announces a conference call scheduled for June 30, 2020, at 5:00 p.m. ET to discuss its first-quarter 2020 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 financial results will be issued prior to the call. Investors can access the call live through Exela's Investor Relations website, with a replay available shortly after the call until July 7, 2020.
