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) is frequently in the news as a business process automation and outsourcing company that reports on strategic initiatives, partnerships, contracts, and capital markets developments. Its disclosures emphasize digital transformation, workflow automation, and enterprise information management for customers across banking, healthcare, insurance, manufacturing, and the public sector.
News about Exela often covers financial results and investor communications, including quarterly earnings releases, segment performance for areas such as Information and Transaction Processing Solutions, Healthcare Solutions, and Legal & Loss Prevention Services, as well as conference call announcements for the financial community. These updates provide context on revenue trends, margins, operating results, and the company’s use of non‑GAAP metrics like Adjusted EBITDA.
Another recurring theme in Exela’s news is strategic partnerships and alliances. Recent announcements describe a partnership between its Finance and Accounting Outsourcing business unit and recruitment firm Michael Page to expand Exela’s Center of Excellence using models such as Build‑Operate‑Transfer, captive arrangements, and Business Processes as a Service. Exela has also highlighted a strategic alliance with Aidéo Technologies to integrate AI‑powered autonomous medical coding into its PCH Global healthcare platform, and collaboration through its Reaktr business unit to launch the SecAi AI‑powered cybersecurity service on Oracle Cloud Infrastructure.
Exela’s news flow also includes contract wins and cybersecurity‑related work, such as a disclosed short‑term security breach remediation contract valued at over $35 million, and updates on its breach remediation and cybersecurity offerings under the Reaktr.ai and Rust Consulting brands. In addition, the company issues releases on corporate and capital markets actions, including reminders for annual stockholder meetings, discussion of a potential spin‑off of Exela Technologies BPA, LLC, and announcements regarding its listing status, Nasdaq suspension, and subsequent trading of its securities on the OTC Markets system.
Investors and observers following XELA news can use this page to review how Exela communicates about its operations, partnerships, financial performance, and regulatory and listing developments over time.
Exela Technologies filed its 2019 Form 10-K, which includes restated results for previous years, revealing a revenue of $1,562.3 million, down 1.5% from 2018. The company reported a net loss of $509.1 million for the year. In Q4 2019, revenue was $393.6 million, a slight decline year-over-year, while adjusted EBITDA was $53 million. Exela continues to focus on debt reduction, liquidity improvement, and maintaining service delivery amidst the COVID-19 pandemic. The first quarter of 2020 is projected to generate revenue between $362 million and $365 million.
Exela Technologies, Inc. (NASDAQ: XELA) announces the promotion of Shrikant Sortur to Chief Financial Officer as part of succession planning. Sortur, who has been with Exela since 2017 and held various financial roles, is praised for his extensive experience in managing global finance operations. Jim Reynolds, the former CFO, will remain a board member. Exela provides business process automation solutions and serves over 4,000 clients worldwide, including more than 60% of the Fortune 100 companies.