Welcome to our dedicated page for Exela Technologies news (Ticker: XELA), a resource for investors and traders seeking the latest updates and insights on Exela Technologies stock.
Exela Technologies Inc. (XELA) delivers business process automation solutions to enterprises worldwide. This news hub provides investors and stakeholders with direct access to official communications, financial disclosures, and strategic developments from the digital transformation leader.
Our curated collection features essential updates including quarterly earnings reports, technology partnerships, and operational milestones. Track Exela's progress in enhancing enterprise workflows through its proprietary automation platforms and cloud-enabled solutions.
Discover timely information on product innovations, client acquisitions, and industry-specific deployments across banking, healthcare, and legal sectors. All content is sourced directly from company filings and press releases to ensure reliability.
Bookmark this page for streamlined access to Exela's latest business developments. Monitor how the company continues to optimize mission-critical processes for global enterprises through its integrated digital transformation solutions.
Exela Technologies (NASDAQ: XELA, XELAP), a leader in business process automation, has secured a $35 million contract for security breach remediation. This short-term project started in June 2024 and is expected to conclude next month, significantly enhancing Exela's ITPS segment, which had revenue of $732 million in 2023. Exela, operating in 20 countries, provides cybersecurity services under the brands Reaktr.ai and Rust Consulting. CEO Suresh Yannamani emphasized Exela's capability to provide comprehensive cybersecurity, compliance, and incident response solutions. The announcement highlights Exela's strategic ability to scale quickly and meet critical client needs.
Exela Technologies reminds stockholders to vote ahead of their annual meeting on June 13, 2024, at 10:00 AM CT, held online. The Board recommends voting 'FOR' each director nominee, future advisory votes on executive compensation every '1 Year,' and all other proposals. Stockholders are urged to vote their proxy by June 12, 2024, before 11:59 PM ET. Key items up for approval include electing Class A and C directors, executive compensation for 2023, the 2024 stock incentive plan, amendments to Series B Preferred Stock, and the appointment of auditors for 2024. The proxy statement is available on the SEC website, and stockholders are encouraged to read it before voting. For assistance, stockholders can contact Advantage Proxy.
Exela Technologies reminds its stockholders to vote ahead of the upcoming annual meeting on June 13, 2024, at 10:00 AM CT. The meeting, which will be held online, seeks approval for several key proposals. These include the election of directors, executive compensation, the adoption of a 2024 stock incentive plan, and amendments to the Series B Certificate of Designations. Stockholders are encouraged to vote by proxy. Detailed instructions and relevant documents are available on the SEC and Exela’s investor relations websites.
Exela Technologies (NASDAQ:XELA, XELAP) will host a conference call on May 28, 2024, at 4:30 p.m. ET to discuss its first-quarter 2024 financial results. The call will feature Par Chadha, Executive Chairman, and Matt Brown, Interim CFO. The webcast will be accessible via Exela's Investor Relations website, with a replay available until June 4, 2024. Interested parties can find more updates on Exela's financial news by subscribing to email alerts on their Investor Relations site.
Exela Technologies (NASDAQ: XELA) reported its Q1 2024 financial results, highlighting a revenue decline of 5.4% year-over-year to $258.8 million. The gross margin improved by 1.1% to 22.0%. The company reported a significant reduction in interest expense by 52.3% to $21.1 million.
Operating profit was up, reaching $0.1 million compared to a loss of $6.9 million in the previous year. However, the net loss stood at $25.6 million, which showed an improvement of $19.9 million year-over-year. Adjusted EBITDA dropped by 11.1% to $12.9 million but showed a sequential increase of 41.7%.
Segment-wise, Information and Transaction Processing Solutions generated $176.1 million, down 9.1% year-over-year. Healthcare Solutions saw a revenue increase of 2.9% to $64.9 million, and Legal and Loss Prevention Services revenue rose by 5.6% to $17.8 million.
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