Filing Flows › ExlService Holdings (EXLS) › Q1 2025
ExlService Holdings (EXLS) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 29, 2025
ExlService Holdings (EXLS) reported revenue of $501M for the first quarter 2025 (Q1 2025), +15% from a year earlier and +4% from the quarter before. Operating margin was 15.7%, net earnings $66.6M (13.3% of revenue).
ExlService Holdings, Q1 2025: revenue $501M (+15% year over year), operating margin 15.7%, net earnings $66.6M, operating cash flow $3.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $501M | +4% | +15% |
| Gross profit | $193M | +5% | +19% |
| Operating profit | $78.4M | +10% | +27% |
| Net earnings | $66.6M | +31% | +36% |
| Operating cash flow | $3.2M | -97% | — |
What changed
Revenue was $501.0M in Q1 2025, up 15% year over year and up 4% from the previous quarter. Insurance was the largest line at 40% of revenue. Healthcare and Life Sciences added $24.9M year over year (up 25%), 39% of the total change.
Gross margin was 38.6%, up 1.2 points from a year earlier. Operating profit was $78.4M, a 15.7% margin (up 1.6 points year over year). Of the extra revenue versus a year earlier, 26% reached operating profit, above the 14% margin then. Operating expenses grew 13% against revenue growth of 15%. The fastest-growing cost line was Sales & marketing (+17%). Net earnings were $66.6M, up 36% year over year. The effective tax rate was 16.8%.
Operating cash flow was $3.2M, 5% of net earnings. Non-cash charges added back $13.5M of depreciation and amortization and $19.2M of share-based compensation. Working capital and other items used $96.0M. Capital expenditures of $12.9M exceeded it, leaving free cash flow of −$9.7M.
Questions
What was ExlService Holdings' revenue in the first quarter 2025?
ExlService Holdings (EXLS) reported revenue of $501M for the first quarter 2025 (Q1 2025), +15% from a year earlier and +4% from the quarter before.
Was ExlService Holdings profitable in the first quarter 2025?
Operating profit was $78.4M (15.7% of revenue) and net earnings $66.6M.