XBP Glo Hldg SEC Filings

XBP Global Holdings, Inc. reports its quarterly results for the period ended March 31, 2026, reflecting its first full quarters after restructuring and fresh start accounting. Revenue reached $197.1 million, while higher operating and interest costs led to a net loss of $26.8 million, or $(2.28) per share.

Total assets were $871.4 million and total liabilities $808.9 million, leaving stockholders’ equity of $62.6 million, down from $87.3 million at year-end 2025. Operating activities used $5.0 million of cash in the quarter, and the company carried significant debt, including $187.0 million of 12.0% senior secured notes due 2030, a $50.0 million super senior term loan, and $70.2 million drawn on its asset-based lending facility. XBP Global had 11,768,050 common shares outstanding as of May 15, 2026.

XBP Global Holdings, Inc. reported first quarter 2026 results showing modest revenue growth but a swing back to loss and much weaker profitability. For the quarter ended March 31, 2026, revenue was $197.1 million, while the company recorded a net loss of $26.8 million versus prior-year net profit.

On a pro forma basis, revenue declined to $197.1 million from $229.7 million, though gross margin improved slightly. Pro Forma Normalized EBITDA was $15.6 million, down from $26.0 million. The balance sheet showed total assets of $871.4 million, total liabilities of $808.9 million, and stockholders’ equity of $62.6 million.

The company highlighted ongoing cost discipline and automation, noting its third consecutive quarter of margin expansion and expectations for higher revenue per employee in the second half of the year. Separately, the board approved an exploration of strategic alternatives to evaluate options to enhance stakeholder value, with no assurance that this process will result in any transaction.

XBP Global Holdings, Inc. reported first quarter 2026 results showing modest revenue growth but a swing back to loss and much weaker profitability. For the quarter ended March 31, 2026, revenue was $197.1 million, while the company recorded a net loss of $26.8 million versus prior-year net profit.

On a pro forma basis, revenue declined to $197.1 million from $229.7 million, though gross margin improved slightly. Pro Forma Normalized EBITDA was $15.6 million, down from $26.0 million. The balance sheet showed total assets of $871.4 million, total liabilities of $808.9 million, and stockholders’ equity of $62.6 million.

The company highlighted ongoing cost discipline and automation, noting its third consecutive quarter of margin expansion and expectations for higher revenue per employee in the second half of the year. Separately, the board approved an exploration of strategic alternatives to evaluate options to enhance stakeholder value, with no assurance that this process will result in any transaction.

Jonovic Andrej reported acquisition or exercise transactions in this Form 4 filing.

XBP Global Holdings, Inc. reported that Chief Executive Officer Andrej Jonovic received a grant of 50,000 Restricted Stock Units (RSUs) of common stock on April 30, 2026. The RSUs were issued under the company’s 2024 Stock Incentive Plan at a stated price of $0.00 per share.

The RSUs vest over three years, with one-third vesting on December 31, 2026, one-third on December 31, 2027, and the final third on December 31, 2028, and are payable only in stock. Following this award, Jonovic directly holds 213,200 shares of common stock. A prior 1-for-10 reverse stock split on December 12, 2025 had reduced his common stock ownership by 1,468,800 shares as an arithmetic adjustment.

Jonovic Andrej reported acquisition or exercise transactions in this Form 4 filing.

XBP Global Holdings, Inc. reported that Chief Executive Officer Andrej Jonovic received a grant of 50,000 Restricted Stock Units (RSUs) of common stock on April 30, 2026. The RSUs were issued under the company’s 2024 Stock Incentive Plan at a stated price of $0.00 per share.

The RSUs vest over three years, with one-third vesting on December 31, 2026, one-third on December 31, 2027, and the final third on December 31, 2028, and are payable only in stock. Following this award, Jonovic directly holds 213,200 shares of common stock. A prior 1-for-10 reverse stock split on December 12, 2025 had reduced his common stock ownership by 1,468,800 shares as an arithmetic adjustment.

XBP Global Holdings, Inc. president Robu Vitalie reported equity compensation activity in the company’s common stock. On April 30, 2026, he received a grant of 12,500 shares of common stock at $0.00 per share, reflecting a share award rather than an open‑market purchase.

Also on April 30, 2026, 9,187 shares were withheld at $2.90 per share to satisfy tax obligations tied to vesting of previously reported RSU awards, and on February 13, 2026, 6,424 shares were similarly withheld at $7.73 per share. After these transactions, Vitalie directly holds 84,041 shares of common stock. Footnotes note a prior 1‑for‑10 reverse stock split in December 2025 and explain that the RSUs vest over three years and are payable only in stock.

XBP Global Holdings, Inc. president Robu Vitalie reported equity compensation activity in the company’s common stock. On April 30, 2026, he received a grant of 12,500 shares of common stock at $0.00 per share, reflecting a share award rather than an open‑market purchase.

Also on April 30, 2026, 9,187 shares were withheld at $2.90 per share to satisfy tax obligations tied to vesting of previously reported RSU awards, and on February 13, 2026, 6,424 shares were similarly withheld at $7.73 per share. After these transactions, Vitalie directly holds 84,041 shares of common stock. Footnotes note a prior 1‑for‑10 reverse stock split in December 2025 and explain that the RSUs vest over three years and are payable only in stock.

XBP Global Holdings, Inc. reported insider equity activity for Chief Financial Officer Dejan Avramovic. He received a grant of 32,500 shares of common stock as a stock-based award, bringing his direct holdings to 85,235 shares after the transaction.

A prior transaction on February 13, 2026 involved 3,006 shares withheld at $7.73 per share to cover tax obligations tied to the vesting of a previously reported Restricted Stock Unit (RSU) award. The new RSUs were issued under the 2024 Stock Incentive Plan and vest in three equal installments on December 31 of 2026, 2027, and 2028, and are settled in stock only.

XBP Global Holdings, Inc. reported insider equity activity for Chief Financial Officer Dejan Avramovic. He received a grant of 32,500 shares of common stock as a stock-based award, bringing his direct holdings to 85,235 shares after the transaction.

A prior transaction on February 13, 2026 involved 3,006 shares withheld at $7.73 per share to cover tax obligations tied to the vesting of a previously reported Restricted Stock Unit (RSU) award. The new RSUs were issued under the 2024 Stock Incentive Plan and vest in three equal installments on December 31 of 2026, 2027, and 2028, and are settled in stock only.

XBP Global Holdings is asking stockholders to vote on four key items at its virtual 2026 annual meeting. Investors will elect seven directors to one-year terms, ratify UHY LLP as auditor for 2026, approve an advisory say-on-pay resolution, and choose how often future say-on-pay votes occur, with the board recommending every one year.

The record date is April 21, 2026, when 11,768,050 common shares were outstanding, each with one vote. XBP explains recent corporate restructuring that created distinct Predecessor and Successor reporting periods in 2025 and shifted it from controlled-company status to a majority-independent board. The proxy also details director and executive pay, including cash retainers, restricted stock units, and a performance-based bonus plan tied to revenue and adjusted EBITDA.

XBP Global Holdings is asking stockholders to vote on four key items at its virtual 2026 annual meeting. Investors will elect seven directors to one-year terms, ratify UHY LLP as auditor for 2026, approve an advisory say-on-pay resolution, and choose how often future say-on-pay votes occur, with the board recommending every one year.

The record date is April 21, 2026, when 11,768,050 common shares were outstanding, each with one vote. XBP explains recent corporate restructuring that created distinct Predecessor and Successor reporting periods in 2025 and shifted it from controlled-company status to a majority-independent board. The proxy also details director and executive pay, including cash retainers, restricted stock units, and a performance-based bonus plan tied to revenue and adjusted EBITDA.

XBP Global Holdings, Inc. describes its 2025 operations as a multinational technology and services company that powers intelligent, AI-driven workflows for more than 2,500 clients across highly regulated sectors such as healthcare, banking, insurance and the public sector.

For 2025 the Predecessor period from January 1 to July 31 generated $431.7 million of revenue and the Successor period from August 1 to December 31 generated $359.4 million, with about 90% of combined revenue from the United States. Healthcare contributed about 28% of 2025 revenue, banking and financial services 19%, and public sector work 11%.

The report explains the July 29, 2025 Business Combination in which XBP acquired BPA, which had just emerged from Chapter 11 reorganization, creating a global platform spanning the Americas, EMEA and Asia. It also notes a one-for-ten reverse stock split completed on December 12, 2025, leaving 11,768,050 common shares outstanding as of March 30, 2026.

Management highlights a strategic focus on agentic AI, robotic process automation, digital mailroom, workflow automation, and industry-specific platforms such as PCH Global for healthcare revenue cycle management and the XBP exchange for bills and payments. As of December 31, 2025 the company had about 10,600 employees in 20 countries and relatively low client concentration, with its top five clients accounting for 27% of 2025 revenue and no single client exceeding 10%.

XBP Global Holdings, Inc. describes its 2025 operations as a multinational technology and services company that powers intelligent, AI-driven workflows for more than 2,500 clients across highly regulated sectors such as healthcare, banking, insurance and the public sector.

For 2025 the Predecessor period from January 1 to July 31 generated $431.7 million of revenue and the Successor period from August 1 to December 31 generated $359.4 million, with about 90% of combined revenue from the United States. Healthcare contributed about 28% of 2025 revenue, banking and financial services 19%, and public sector work 11%.

The report explains the July 29, 2025 Business Combination in which XBP acquired BPA, which had just emerged from Chapter 11 reorganization, creating a global platform spanning the Americas, EMEA and Asia. It also notes a one-for-ten reverse stock split completed on December 12, 2025, leaving 11,768,050 common shares outstanding as of March 30, 2026.

Management highlights a strategic focus on agentic AI, robotic process automation, digital mailroom, workflow automation, and industry-specific platforms such as PCH Global for healthcare revenue cycle management and the XBP exchange for bills and payments. As of December 31, 2025 the company had about 10,600 employees in 20 countries and relatively low client concentration, with its top five clients accounting for 27% of 2025 revenue and no single client exceeding 10%.

XBP Global Holdings, Inc. reported fourth quarter and full year 2025 results reflecting a major transition after acquiring Exela Technologies BPA. As reported full year 2025 revenue was $791.0 million, down from $872.7 million, while pro forma revenue was $879.6 million versus $1,017.6 million. As reported full year gross margin held near 21.7%, and pro forma gross margin was 21.9%. Fourth quarter 2025 revenue was $207.0 million, down 15.1% year over year, with gross margin improving to 22.7%. The company recorded a successor-period net loss of $351.1 million, driven largely by a $320.3 million goodwill impairment, while full year pro forma normalized EBITDA reached $90.2 million. Management highlighted sales investments and agentic AI-driven automation aimed at stabilizing the acquired business and supporting future growth.

XBP Global Holdings, Inc. reported fourth quarter and full year 2025 results reflecting a major transition after acquiring Exela Technologies BPA. As reported full year 2025 revenue was $791.0 million, down from $872.7 million, while pro forma revenue was $879.6 million versus $1,017.6 million. As reported full year gross margin held near 21.7%, and pro forma gross margin was 21.9%. Fourth quarter 2025 revenue was $207.0 million, down 15.1% year over year, with gross margin improving to 22.7%. The company recorded a successor-period net loss of $351.1 million, driven largely by a $320.3 million goodwill impairment, while full year pro forma normalized EBITDA reached $90.2 million. Management highlighted sales investments and agentic AI-driven automation aimed at stabilizing the acquired business and supporting future growth.

XBP Global Holdings, Inc. disclosed that subsidiary XBP Americas, LLC entered into a Limited Waiver and Third Amendment to its asset-based Credit and Security Agreement on March 6, 2026. The amendment removes the covenant requiring minimum excess availability of $7.5 million.

The Third Amendment adds a temporary availability block through June 30, 2026, reducing borrowing capacity by the greater of $3.75 million or 5.0% of the borrowing base if the fixed charge coverage ratio falls below 1.00 to 1.00. It also temporarily raises the advance rate on eligible investment grade billed accounts to 95.0% through September 30, 2026 and adjusts borrowing base calculations, cash dominion mechanics, and the deferred revolving loan origination fee.

XBP Global Holdings, Inc. disclosed that subsidiary XBP Americas, LLC entered into a Limited Waiver and Third Amendment to its asset-based Credit and Security Agreement on March 6, 2026. The amendment removes the covenant requiring minimum excess availability of $7.5 million.

The Third Amendment adds a temporary availability block through June 30, 2026, reducing borrowing capacity by the greater of $3.75 million or 5.0% of the borrowing base if the fixed charge coverage ratio falls below 1.00 to 1.00. It also temporarily raises the advance rate on eligible investment grade billed accounts to 95.0% through September 30, 2026 and adjusts borrowing base calculations, cash dominion mechanics, and the deferred revolving loan origination fee.

XBP Global Holdings, Inc. reported that it received a Nasdaq deficiency notice because the closing bid price of its common stock stayed below $1.00 for 30 consecutive business days from August 4 to September 15, 2025, violating Nasdaq’s minimum bid price rule. The company has a 180-day grace period, until March 16, 2026, to regain compliance by having its closing bid price at or above $1.00 for at least ten consecutive business days, a period Nasdaq may extend in certain cases. XBP notes that recent closing bid prices have been above $1.00 but cautions there is no assurance it will regain or maintain compliance. If it fails to do so, its stock could be delisted, though the company would have appeal rights. For now, the common stock and publicly traded warrants continue trading on the Nasdaq Capital Market under the symbols XBP and XBPW.