ExlService Holdings, Inc.

Listed Company

EXLSCIK 0001297989NasdaqLarge AcceleratedServices-Business Services, NecDelawareFY ends Dec 31

Period

FY 2025

Revenue

$2.09B

Net Income

$251.02M

Total Assets

$1.70B

Equity

$912.71M

Shares Out

152.78M

Op. Cash Flow

$350.72M

EXLS$27.02−39.51% · past yearDBEQ Basic

Daily closing prices

Business

ExlService Holdings, Inc. is a global data and artificial intelligence company that delivers data and AI-led solutions and services and digital operations solutions and services to enterprise clients. The company offers industry-specific large language models, agentic AI platforms, data modernization, digital engineering, and technology-enabled managed services across insurance, healthcare, banking, capital markets, and diversified industries. ExlService operates through four reportable segments aligned to Industry Market Units: Insurance, Healthcare and Life Sciences, Banking Capital Markets and Diversified Industries, and International Growth Markets, serving clients across North America, Europe, and Asia-Pacific regions.

Summary from 10-K filed 2026-02-24

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues, net	2,088	1,838	1,631	1,412	1,122
Cost of revenues	1,287	1,147	1,023	897	691
Gross profit	801	691	608	515	431
General and administrative expenses	255	226	198	169	142
Selling and marketing expenses	173	147	120	98	84
Depreciation and amortization expense	59	55	50	56	49
Total operating expenses	487	427	369	323	275
Income from operations	314	264	239	192	156
Foreign exchange gain, net	3	891,000	2	6	4
Interest expense	−18	−19	−13	−8	—
Other income, net	16	16	11	−10,000	7
Income before income tax expense and earnings from equity affiliates	315	261	238	190	147
Income tax expense	64	63	54	48	32
Income before earnings from equity affiliates	251	198	184	143	115
Gain/(loss) from equity-method investment	−305,000	−114,000	153,000	434,000	47,000
Net income	251	198	185	143	115
Basic (in dollars per share)	1.56	1.22	1.11	0.86	0.68
Diluted (in dollars per share)	1.54	1.21	1.1	0.85	0.67
Basic (in shares)	161	163	166	167	168
Diluted (in shares)	162	164	168	169	171

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	146	153	137	119	135
Short-term investments	182	187	154	179	179
Restricted cash	12	10	4	5	6
Accounts receivable, net	343	304	308	259	194
Other current assets	146	140	77	51	63
Total current assets	830	795	680	613	578
Property and equipment, net	112	102	100	83	86
Operating lease right-of-use assets	97	69	65	55	77
Restricted cash	7	8	4	2	2
Deferred tax assets, net	130	105	83	56	21
Goodwill	420	420	406	406	404
Other intangible assets, net	36	49	50	65	81
Long-term investments	8	14	4	35	3
Other assets	62	56	50	32	30
Total assets	1,702	1,618	1,442	1,346	1,283
Accounts payable	5	6	5	8	6
Current portion of long-term borrowings	5	5	65	30	260
Deferred revenue	15	19	12	19	20
Accrued employee costs	147	130	117	108	114
Accrued expenses and other current liabilities	135	114	114	95	76
Current portion of operating lease liabilities	17	16	13	15	18
Total current liabilities	324	290	326	278	496
Long-term borrowings, less current portion	294	284	135	220	0
Operating lease liabilities, less current portion	88	60	58	48	69
Deferred tax liabilities, net	2	1	1	547,000	965,000
Other non-current liabilities	81	54	31	41	25
Total liabilities	790	689	553	588	590
Commitments and contingencies	—	—	—	—	—
Preferred stock, $0.001 par value; 15,000,000 shares authorized, none issued	0	0	0	0	0
Common stock, $0.001 par value; 400,000,000 shares authorized, 208,855,566 shares issued and 156,430,028 shares outstanding as of December 31, 2025 and 206,510,587 shares issued and 161,801,212 shares outstanding as of December 31, 2024	209,000	206,000	203,000	200,000	40,000
Additional paid-in capital	678	589	508	445	396
Retained earnings	1,533	1,282	1,084	899	756
Accumulated other comprehensive loss	−181	−155	−127	−144	−89
Total including shares held in treasury	2,030	1,716	1,465	1,200	1,062
Less: 52,425,538 shares as of December 31, 2025 and 44,709,375 shares as of December 31, 2024, held in treasury, at cost	−1,117	−786	−575	−442	−369
Total stockholders equity	913	930	889	758	693
Total liabilities and stockholders equity	1,702	1,618	1,442	1,346	1,283

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization expense	59	55	50	56	50
Stock-based compensation expense	79	73	58	49	39
Reduction in the carrying amount of operating lease right-of-use assets	25	22	20	22	26
Fair value mark-to-market on investments	−2	−2	17	−1	5
Unrealized foreign currency exchange gain, net	−14	−5	−1	−17	−4
Deferred income tax benefit	−15	−20	−32	−20	—
Others, net	4	−680,000	5	9	168,000
Accounts receivable	−36	5	−49	−68	−38
Other current and non-current assets	−6	−48	−24	−18	227,000
Income taxes payable, net	−2	−26	−18	9	−12
Accounts payable, accrued expenses and other liabilities	11	21	7	17	—
Deferred revenue	−4	7	−877,000	2	−13
Accrued employee costs	25	22	14	6	46
Payment of contingent consideration	0	−11	0	0	—
Operating lease liabilities	−25	−20	−20	−23	−26
Net cash provided by operating activities	351	269	211	166	184
Purchases of property and equipment	−53	−46	−53	−45	−37
Proceeds from sale of property and equipment	351,000	215,000	739,000	266,000	1
Business acquisition (net of cash acquired)	0	−24	0	−4	−77
Purchases of investments	−314	−289	−235	−213	−96
Proceeds from redemption of investments	318	241	276	165	95
Investment in equity affiliate	−1	−600,000	−600,000	0	0
Net cash used for investing activities	−49	−119	−12	−97	−114
Principal payments of finance lease liabilities	−511,000	−326,000	−169,000	−142,000	−201,000
Proceeds from borrowings	235	290	80	35	—
Repayments of borrowings	−225	−201	−130	−45	−329
Payment of contingent consideration	0	−4	−5	0	0
Acquisition of treasury stock	−328	−208	−132	−73	−118
Proceeds from issuance of common stock	6	5	6	1	710,000
Payment of debt issuance costs	0	−622,000	0	0	0
Net cash used for financing activities	−313	−119	−181	−82	−147
Effect of exchange rate changes	6	−4	2	−6	−5
Net increase/(decrease) in cash, cash equivalents and restricted cash	−5	26	20	−18	−82
Interest	17	20	14	8	7
Additions to property and equipment not yet paid	4	2	4	4	—
Assets acquired under finance lease	985,000	1	461,000	312,000	71,000

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro

Frequently asked questions

What is ExlService Holdings, Inc.'s CIK number?

ExlService Holdings, Inc.'s SEC CIK number is 0001297989 (1297989). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find ExlService Holdings, Inc.'s SEC filings?

All of ExlService Holdings, Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did ExlService Holdings, Inc. last report earnings?

ExlService Holdings, Inc. (EXLS) most recently filed an earnings 8-K with the SEC on Apr 28, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001297989-26-000014). This is ExlService Holdings, Inc.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is ExlService Holdings, Inc.'s most recent earnings 8-K?

ExlService Holdings, Inc.'s latest earnings 8-K (Item 2.02) was filed Apr 28, 2026 under accession 0001297989-26-000014. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View ExlService Holdings, Inc.'s latest earnings 8-K →
Look up any company's CIK number →