NASDAQ$EXLS
ExlService Holdings Inc. · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
ExlService's Q4 2023 performance demonstrated revenue growth and increased EPS, driven by strategic investments in data and AI capabilities.
ExlService reported a 10.5% year-over-year increase in revenue, reaching $414.1 million for Q4 2023. Diluted EPS increased by 28.2% to $0.24, and adjusted diluted EPS rose by 11.3% to $0.35. The company's full-year revenue grew by 15.5% to $1.63 billion, with diluted EPS up 29.9% to $1.10 and adjusted diluted EPS up 19.1% to $1.43.
- Q4 revenue increased by 10.5% year-over-year to $414.1 million.
- Q4 diluted EPS (GAAP) increased by 28.2% year-over-year to $0.24.
- Q4 adjusted diluted EPS (Non-GAAP) increased by 11.3% year-over-year to $0.35.
- The company issued 2024 revenue guidance of $1.78 billion to $1.82 billion and adjusted diluted EPS guidance of $1.56 to $1.62.
Headline financials
Revenue & EPS history
ExlService · Revenue · Quarterly
$414M
Revenue by segment
ExlService · $163M total across 2 segments · Q3 2023
- Insurance$136M+17.4%83.9%
- Healthcare and Life Sciences$26.2M+14.9%16.1%
Forward guidance
EXL anticipates revenue between $1.78 billion and $1.82 billion, representing a 9% to 12% increase year-over-year. Adjusted diluted EPS is expected to be in the range of $1.56 to $1.62, reflecting a 9% to 13% increase over 2023.
Tailwinds
- Revenue of $1.78 billion to $1.82 billion, representing an increase of 9% to 12% on a reported basis, and constant currency basis, from 2023
- Adjusted diluted earnings per share of $1.56 to $1.62, representing an increase of 9% to 13% from 2023
- New collaboration with AWS for developing and delivering generative AI solutions
- Established a new collaboration with Microsoft to co-develop and accelerate generative AI solutions
- Board of Directors authorized a $500 million common stock repurchase program
Headwinds
- Challenging macro-economic environment
- Lower demand across the IT services industry
- Economic uncertainty heading into 2024
- Inability to predict its future stock-based compensation expense under ASC Topic 718
- Inability to predict the amortization of intangibles associated with future acquisitions and the currency fluctuations and associated tax effects
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
+0.7%
Avg return
Earnings day
+1.7%
Avg return
5 days after
+2.3%
Avg return
30 days after
52%
34 / 65 earnings
Positive
+15.0%
Q1 2010
Best reaction
-13.2%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.9% | +4.5% | -4.2% | |
| Q4 2025 | -0.3% | +8.6% | +3.8% | |
| Q3 2025 | -7.0% | -5.6% | -4.2% | |
| Q1 2025 | +7.8% | +3.5% | +2.2% | |
| Q4 2024 | -0.1% | -1.8% | -3.9% | |
| Q3 2024 | +7.5% | +7.5% | +20.3% | |
| Q2 2024 | -3.5% | -3.2% | +3.6% | |
| Q1 2024 | +2.0% | +5.6% | +2.7% | |
| Q4 2023 | +6.3% | +4.5% | +6.5% | |
| Q3 2023 | +1.6% | +3.5% | +12.0% | |
| Q2 2023 | -13.2% | -14.2% | -11.9% | |
| Q1 2023 | +10.0% | +8.9% | -6.2% | |
| Q4 2022 | -1.0% | -3.3% | -9.9% | |
| Q3 2022 | +3.4% | +8.2% | +10.0% | |
| Q2 2022 | +13.3% | +14.0% | +14.8% | |
| Q1 2022 | -4.8% | -4.2% | +0.5% | |
| Q4 2021 | +4.9% | +7.6% | +19.6% | |
| Q3 2021 | +6.1% | +11.5% | +8.2% | |
| Q2 2021 | +5.4% | +9.5% | +12.2% | |
| Q1 2021 | -0.6% | +3.0% | +9.7% | |
| Q4 2020 | +4.0% | +5.0% | +16.7% | |
| Q3 2020 | +3.6% | +7.9% | +15.2% | |
| Q2 2020 | +3.3% | +3.1% | -4.8% | |
| Q1 2020 | -1.0% | -6.2% | +6.7% | |
| Q4 2019 | +3.1% | +5.8% | -28.2% | |
| Q3 2019 | +5.1% | +4.3% | +6.1% | |
| Q2 2019 | +3.1% | +1.5% | +2.9% | |
| Q1 2019 | -2.5% | -0.5% | -4.7% | |
| Q4 2018 | -0.6% | -1.6% | -2.4% | |
| Q3 2018 | -8.3% | -9.7% | -9.6% | |
| Q2 2018 | -2.2% | -1.1% | +7.7% | |
| Q1 2018 | -6.9% | -6.7% | -1.9% | |
| Q4 2017 | -7.0% | -7.3% | -9.0% | |
| Q3 2017 | +3.1% | +3.0% | +0.6% | |
| Q2 2017 | +3.5% | +4.9% | -0.4% | |
| Q1 2017 | +2.7% | +3.9% | +10.9% | |
| Q4 2016 | -1.6% | -3.2% | -1.2% | |
| Q3 2016 | -5.0% | -6.7% | +1.6% | |
| Q2 2016 | -3.0% | +1.2% | -1.6% | |
| Q1 2016 | -6.0% | — | — | |
| Q4 2015 | +5.4% | — | — | |
| Q3 2015 | +5.7% | — | — | |
| Q2 2015 | +5.3% | — | — | |
| Q1 2015 | +0.6% | — | — | |
| Q4 2014 | +9.2% | — | — | |
| Q3 2014 | +1.4% | — | — | |
| Q2 2014 | -1.7% | — | — | |
| Q1 2014 | +1.6% | — | — | |
| Q4 2013 | +8.9% | — | — | |
| Q3 2013 | -5.6% | — | — | |
| Q2 2013 | -4.3% | — | — | |
| Q1 2013 | -6.3% | — | — | |
| Q4 2011 | +0.8% | — | — | |
| Q1 2011 | +0.8% | — | — | |
| Q4 2012 | +4.6% | — | — | |
| Q3 2012 | -7.6% | — | — | |
| Q2 2012 | -2.2% | — | — | |
| Q1 2012 | -6.0% | — | — | |
| Q4 2009 | +0.6% | — | — | |
| Q3 2010 | -1.3% | — | — | |
| Q3 2011 | -1.3% | — | — | |
| Q4 2010 | -2.3% | — | — | |
| Q2 2010 | -2.3% | — | — | |
| Q2 2011 | -2.3% | — | — | |
| Q1 2010 | +15.0% | — | — |
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