EXLS
Market read
The latest filing evidence is available. 0 of 16 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 10 directly disclosed connections are confirming.
Invalidation: The isolated read changes if EXLS's group or a disclosed connection begins moving with it.
Research brief
The latest filing evidence is available. 0 of 16 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 10 directly disclosed connections are confirming.
Company research
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
“The increase of $16.2 million was primarily due to higher purchases of treasury stock of $126.9 million under our share repurchase programs, partially offset by higher net proceeds from borrowings of $111.0 million during the six months ended June 30, 2026, c…”10-Q · Jul 28, 2026 ↗
“The increase in cost of revenues in International Growth Markets by $18.4 million for the six months ended June 30, 2026 was due to increases in employee-related costs of $16.7 million on account of higher headcount and wage inflation, higher technology costs…”10-Q · Jul 28, 2026 ↗
“The increase in SG&A expenses by $39.9 million during the six months ended June 30, 2026, compared to the six months ended June 30, 2025 was primarily due to increases in employee-related costs of $31.7 million on account of higher headcount and wage inflatio…”10-Q · Jul 28, 2026 ↗
“The increase in SG&A expenses by $39.9 million during the six months ended June 30, 2026, compared to the six months ended June 30, 2025 was primarily due to increases in employee-related costs of $31.7 million on account of higher headcount and wage inflatio…”10-Q · Jul 28, 2026 ↗
Valuation discipline
Price/sales 2.7× · EV/sales 2.8×. Comparisons use only industry-matched filing peers.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
Jodie has not returned a relevant primary source or news item for EXLS. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Latest filing assessment · baseline
10-Q filed 2026-04-28 against the comparable filing from 2025-04-29.
“Gross margin in Banking, Capital Markets and Diversified Industries decreased by 40 bps, primarily due to lower volumes in certain existing clients during the three months ended March 31, 2026, compared to the three months ended March 31, 2025.”
“The increase in SG&A expenses by $15.0 million during the three months ended March 31, 2026, compared to the three months ended March 31, 2025 was primarily due to increases in employee-related costs of $11.8 million on account of higher headcount and wage inflation, increased investments in digital and generative AI capabilities of $1.9 million, and higher sales and marketing and other operating costs of $1.3 million.”
“Our gross margin for the three months ended March 31, 2026 was 38.9%, compared to 38.6% for the three months ended March 31, 2025, an increase of 30 basis points (“bps”) primarily driven by higher revenues and operational efficiencies, partially offset by lower volumes in certain existing clients during the three months ended March 31, 2026, compared to the three months ended March 31, 2025.”
Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.
Business ecosystem
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
“We continue to build deep expertise in strategic partner technology ecosystems through certifications in partnership with NVIDIA, Databricks, Microsoft, AWS, Google, and Snowflake, ensuring our teams stay aligned with the latest advancements in data and AI pl…”
“We continue to build deep expertise in strategic partner technology ecosystems through certifications in partnership with NVIDIA, Databricks, Microsoft, AWS, Google, and Snowflake, ensuring our teams stay aligned with the latest advancements in data and AI pl…”
Depended on by
“We also compete with broader technology and business process services providers, including Accenture, Cognizant Technology Solutions, EXLService Holdings, Inc., Genpact Limited, Infosys Limited, PwC, QuantumBlack, and Tata Consultancy Services, which may offe…”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 10 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
EXLS is currently a Follower in the organic co-movement group Technology Services. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for EXLS; it is not active in the latest market snapshot.
Context history
No durable theme membership has been observed for this name yet.