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, Inc. (Nasdaq: XELA) announces a definitive merger agreement with CF Acquisition Corp. VIII (Nasdaq: CFFE), valuing its European business, XBP Europe, at an enterprise value of $220 million. The merger aims to optimize payments and enhance digital transformation across Europe. XBP Europe will become XBP Europe Holdings, Inc. and is expected to close in the first half of 2023. The transaction is pending stockholder approval and customary closing conditions. Key strategic goals include expansion in the European payments ecosystem.
Exela Technologies announced an expanded strategic partnership valued at approximately $8 million to enhance its technology and operations solutions within the healthcare sector. This partnership is part of Exela's Healthcare Solutions business, which generated $218 million in revenue in 2021. The deployment of Exela’s PCH Global Cloud Platform aims to enhance consumer engagement and care coordination across various healthcare organizations.
Exela Technologies, Inc. (NASDAQ: XELA, XELAP) has secured a $12 million contract over three years with a leading communications firm in Europe, enhancing its communication services platform. This partnership addresses rising customer demands as Exela aims to facilitate digital transformations. The contract is part of Exela’s ITPS segment, which generated over $874 million in revenue in 2021. Exela has already commenced service delivery, marking a significant step in its growth strategy in the European market.
Exela Technologies (NASDAQ: XELA, XELAP) announced a quarterly dividend of $0.375 per share on its 6.00% Series B Cumulative Perpetual Convertible Preferred Stock. This payment will be made in cash on September 30, 2022, to stockholders of record as of September 20, 2022. With over 17,000 employees and a client base of more than 4,000 across 50 countries, Exela continues to leverage its digital transformation solutions in various industries, including finance and healthcare.
Exela Technologies, Inc. (NASDAQ: XELA, XELAP) announced a partnership with ClearBank to provide connectivity to Pay.UK's interbank Image Clearing System (ICS) using Exela's XBP™ platform. This collaboration will enhance ClearBank's capabilities in cheque processing, allowing it to extend agency banking services to multiple financial institutions. Exela's ITPS line generated $874.2 million in revenue in FY 2021, with XBP being the primary revenue driver. ClearBank's CEO expressed optimism about the partnership's potential for innovation and user experience enhancement.
Exela Technologies has announced the potential formation of a stand-alone publicly listed EMEA business valued at $220 million. This entity will operate independently and generate approximately $200 million in annual revenue. The transaction is subject to a definitive agreement and regulatory approvals, with no guarantee of completion. The capital raised is intended to support growth and corporate purposes for the new entity on Nasdaq, following Exela's previous announcement regarding asset sales exceeding $200 million.
Exela Technologies (NASDAQ: XELA, XELAP) announced a new 3-year framework contract with a public IT service provider, valued at approximately $11 million. This agreement allows Exela to implement its Digital Mail Room (DMR) module within its XBP™ Global platform across several German federal states and tax administrations. The initiative aligns with Exela's ongoing strategy to enhance its services in the German market, as highlighted by President Vitalie Robu's comments on the potential for growth and security in their offerings.
Exela Technologies has announced a share buyback program for up to 10 million shares of its common stock, authorized by the Board of Directors on August 10, 2022. This program aims to enhance shareholder value and will allow purchases through various methods including open market transactions and block trades. The buyback is not obligatory and may be altered or terminated by the Board at any time, with a duration of 24 months. The decision to repurchase shares will depend on market conditions and other investment considerations.
Exela Technologies reported Q2 2022 revenue of $266.8 million, marking a 9% decline year-over-year. The company experienced a net loss of $79.2 million, significantly higher than $19.4 million in Q2 2021. Despite these setbacks, Exela secured $230 million in Total Contract Value (TCV), a 294% increase from Q1 2022, and saw remarkable growth in its SMB segment with a 343% rise in Digital Mailroom customers. The company improved liquidity with $72 million and reduced total debt by $118 million compared to Q1 2022.
Exela Technologies, Inc. (NASDAQ:XELA) will host a conference call to discuss its second quarter 2022 results on August 9, 2022, at 4:30 p.m. ET. The call will feature Executive Chairman Par Chadha and CFO Shrikant Sortur, who will review the financial outcomes followed by a Q&A session. A press release with the results will precede the call. Investors can access the live webcast on Exela’s Investor Relations website and find details for call-in participation. A replay will be available shortly after the call until August 16, 2022.
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?
