XELAW - XELAW STOCK NEWS

Exela Technologies, Inc. (NASDAQ: XELA) announced the rollout of its EON Robotic Process Automation (RPA) platform for a significant health insurance client, enhancing digital transformation by automating claims processing. This partnership, built over 16 years, aims to reduce processing times and increase operational efficiency. Exela is committed to expanding its PCH Global capabilities, providing a cloud-hosted solution with advanced data analytics. The company serves over 4,000 clients globally and remains focused on integrating healthcare relationships into its scalable networks.

Exela Technologies, Inc. (NASDAQ: XELA) hosted a fireside chat webcast on June 11, 2021, featuring CFO Shrikant Sortur and Head of Strategy Matt Brown, moderated by Josh Siegler of Cantor Fitzgerald. The discussion emphasized business process automation (BPA) and the company's global reach, serving over 4,000 customers in 50 countries, including more than 60% of the Fortune 100. The webcast is available for viewing for 30 days.

Exela Technologies (NASDAQ: XELA) has been recognized as a Leader in NelsonHall’s 2021 Healthcare Payer BPS NEAT Vendor Evaluation, excelling in Overall Capability, Plan Design & Enrollment, Member Services, and Operations Transformation. The company was also rated as a High Achiever in Claims & Billing and Provider Management. Exela's PCH Global platform aims to simplify healthcare claims management through intelligent automation, ultimately lowering costs for stakeholders. This acknowledgment highlights Exela's commitment to innovative solutions in the healthcare sector.

Exela Technologies has announced the expansion of its partnership with a major specialty care services insurance carrier, enhancing its PCH Global platform's capabilities. This collaboration aims to connect 27,000 unique providers to streamline claims management, correspondence, and payment processes. The deployment will support approximately 3,800 specialists and is expected to improve transparency while reducing costs in behavioral health claims. Exela's ongoing investments in this cloud-based solution are designed to enhance scalability, uptime, and data analytics for the healthcare sector.

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.