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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 is holding a special meeting for stockholders on May 4, 2023, to facilitate a reverse stock split aimed at maintaining its listing on The Nasdaq Capital Market.
The company encourages stockholders to vote in favor of the amendment to its Certificate of Incorporation, as the current stock price may deter institutional investors and brokerage firms from engaging with Exela. Shares can be voted online or by phone, with instructions provided on the proxy card.
Exela emphasizes the importance of stockholder participation in the voting process, noting that even small shareholders can impact the outcome. The company has engaged proxy solicitor Morrow Sodali LLC to assist stockholders with questions about voting.
Exela Technologies (NASDAQ: XELA, XELAP) announced its second fireside chat for investors scheduled on April 26, 2023, at 2:00 PM ET. This event, hosted by Executive Chairman Par Chadha, will allow investors to submit questions until April 21, 2023, focusing on the Company's strategy and future plans. Exela emphasizes its ongoing investment in technology and services to enhance customer experience and accommodate growth. The company aims to facilitate open communication and share both achievements and challenges in the chat.
Registration for the fireside chat is available at https://fireside.exelatech.com/register. Exela is recognized for its expertise in business process automation, serving over 4,000 customers globally, including a significant number in the Fortune 100.
Exela Technologies, Inc. reported a 2022 revenue of $1,077.2 million, down 7.7% year-over-year, and a net loss of $415.6 million, largely attributed to goodwill impairment charges totaling $171.2 million. The fourth quarter results showed a revenue decrease of 9.3% to $267.0 million, with a net loss of $194.1 million. Despite a challenging environment marked by inflation and staffing shortages, the company has implemented cost-saving measures projected to save $65-$75 million beginning in Q4 2022. Total debt has decreased by $141.1 million, reflecting efforts to improve financial stability.
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