EXELA TECHS INC 6% SER B - XELAP STOCK NEWS

Exela Technologies (NASDAQ:XELA, XELAP) will host a conference call on May 28, 2024, at 4:30 p.m. ET to discuss its first-quarter 2024 financial results. The call will feature Par Chadha, Executive Chairman, and Matt Brown, Interim CFO. The webcast will be accessible via Exela's Investor Relations website, with a replay available until June 4, 2024. Interested parties can find more updates on Exela's financial news by subscribing to email alerts on their Investor Relations site.

Exela Technologies (NASDAQ: XELA) reported its Q1 2024 financial results, highlighting a revenue decline of 5.4% year-over-year to $258.8 million. The gross margin improved by 1.1% to 22.0%. The company reported a significant reduction in interest expense by 52.3% to $21.1 million.

Operating profit was up, reaching $0.1 million compared to a loss of $6.9 million in the previous year. However, the net loss stood at $25.6 million, which showed an improvement of $19.9 million year-over-year. Adjusted EBITDA dropped by 11.1% to $12.9 million but showed a sequential increase of 41.7%.

Segment-wise, Information and Transaction Processing Solutions generated $176.1 million, down 9.1% year-over-year. Healthcare Solutions saw a revenue increase of 2.9% to $64.9 million, and Legal and Loss Prevention Services revenue rose by 5.6% to $17.8 million.

Exela Technologies, Inc. will host a conference call to discuss fourth quarter and full year 2023 financial results on April 17, 2024. Par Chadha, Executive Chairman, and Matt Brown, Interim CFO, will review the results. The call will be broadcast live on Exela's Investor Relations website. Replay will be available until April 24, 2024.

Exela Technologies Inc. reported a 1.2% decline in revenue to $1,064.1 million for 2023 but saw an improvement in operating profit to $8.1 million. The net loss decreased to $124.4 million, with certain subsidiaries issuing new notes in exchange for existing ones. The company focused on stabilizing revenues, reducing debt, and investing in growth areas like cyber security and data modernization.

Exela Technologies, Inc. adjourned the Annual Meeting of Stockholders due to lack of required quorum. The Meeting will reconvene on June 13, 2024, to allow additional time for stockholders to vote on proposals. Stockholders are urged to exercise their right to vote their shares. Proxy information is available at the SEC website. The Company asks all stockholders to vote their proxy, no matter how many shares they own.

Exela Technologies, Inc. and XBP Europe announce the launch of a new Global Business Unit, Reaktr.ai, spearheaded by industry veteran Vineet Chaku as President. The move positions the Company at the forefront of the cyber, large data, and generative AI landscape, focusing on AI-Powered Growth, Data Modernization, Multi-Cloud Management, and Cybersecurity. The launch aims to address the rapidly changing industry and meet the demand for scalable AI platforms and modernized data infrastructure.

Exela Technologies, Inc. (NASDAQ: XELA, XELAP) has been recognized as a Disruptor in the Avasant Talent Acquisition Business Process Transformation 2023–2024 RadarView. The report evaluated 42 providers, with Exela Technologies standing out for its product-first approach, proprietary solutions such as the Exela Applicant Tracking platform and the Assessments platform, and strategic investment in European expansion and generative AI integration. This recognition reflects Exela's commitment to innovation and excellence in business process automation.

Exela Technologies, Inc. (XELA) adjourns the Annual Meeting of Stockholders due to lack of required quorum, reconvening on January 26, 2024, to allow additional time for shareholders to vote on proposals. The Company urges all stockholders to exercise their right to vote their shares by proxy.

Exela Technologies, Inc. (NASDAQ: XELA, XELAP) urges stockholders to vote ahead of the upcoming annual meeting of stockholders, recommending 'FOR' all proposals and 'FOR' each director nominee.