ExlService Holdings, Inc.
EXLS
Jodie read · what matters now
Revenue increased 13.8% versus the comparable filing period.
The story is only the start. Jodie keeps watching the filing evidence, the companies connected to EXLS, and whether its market group begins moving.
Latest filing assessment · baseline
The latest filing shows material pressure
10-Q filed 2026-04-28 against the comparable filing from 2025-04-29.
What improved
- Revenue increased 13.8% versus the comparable filing period.
What weakened
- Net margin fell 1.5 percentage points.
- Operating cash flow covered only 0.03x net income.
Filing receipts
“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.
Who this business touches
The relationships behind EXLS
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
Depended on by
Filing peers
Companies whose filings use similar operating language.
You can see the shape of the network here. Pro opens 10 more links, the original filing receipts, and alerts when connected names begin moving. See Pro →
What is moving around it
Live connections
EXLS is currently a Participant in the organic co-movement group Financial 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.
Theme membership history
No durable theme membership has been observed for this name yet.