Q1 2024 Exlservice Holdings Inc Earnings Call Transcript
Key Points
- ExlService Holdings Inc (EXLS) reported a solid revenue increase of 9% year-over-year to $436 million in Q1 2024.
- Adjusted EPS grew by 9% year-over-year to $0.38 per share, indicating strong profitability.
- The company experienced robust growth in its digital operations and solutions business, with revenue up 12% year-over-year to $246 million.
- ExlService Holdings Inc (EXLS) raised the lower end of its full-year guidance for both revenue and EPS, reflecting confidence in continued strong performance.
- The company's strategic focus on data and AI has enhanced its competitive position and expanded its total addressable market.
- Marketing analytics segment continues to face challenges, with ongoing declines impacting overall analytics growth.
- Higher SG&A expenses, up 140 basis points year-over-year to 20.4%, driven by investments in AI and digital solutions.
- The healthcare segment reported a slight revenue decline of 1.7% year-over-year, primarily due to one-time revenue in Q1 2023.
- Cash flow from operations was an outflow of $21.9 million, compared to an inflow of $16 million in Q1 2023, due to higher working capital requirements and one-time payments.
- The company noted ongoing macroeconomic uncertainties that could impact client investment decisions and overall market conditions.
Good day, and thank you for standing by, and welcome to the first quarter 2024 Exlservice Holdings Inc., earnings conference call. (Operator Instructions) Again, please be advised that today's conference is being recorded.
I would now like to hand the conference over to your speaker today, John Kristoff, VP of Investor Relations. Please go ahead.
Thanks, Justin. Good morning. Thank you for joining EXL's first quarter 2024 financial results conference call. On the call with me today are Rohit Kapoor, Chairman and Chief Executive Officer, AmerGen Nicoletti, Chief Financial Officer. We hope you've had an opportunity to review the first quarter earnings release we issued this morning. We've also posted an earnings release slide deck and investor fact sheet in the Investor Relations section of our website.
As a reminder, some of the matters we'll discuss this morning are forward-looking. Please keep in mind that these forward-looking statements are subject to known and unknown risks and
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