ExlService Holdings, Inc.
EXLS- Exchange
- Nasdaq
- Industry
- Services-Business Services, NEC
- SEC CIK
- 0001297989
In the last 90 days, ExlService Holdings, Inc. insiders filed 0 open-market purchases and 4 sales; 446 institutions reported holding it in 13F filings for Q2 2026, worth $4.02B in total; no superinvestor holds it.
- Currency
- USD
- Source
- SEC XBRL data (10-K, 10-Q, 20-F, 40-F)
- Updated
- Oct 28, 2026, 12:34 PM ET
Revenue flow, FY2025
Where the revenue went in FY2025, from the income statement below. Green is profit; orange is costs, expenses and taxes. Percentages are shares of revenue; hover over a band or a bar for the exact amount.
Income statement
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 24, 2026 | Feb 25, 2025 | Feb 29, 2024 | Feb 23, 2023 | Feb 24, 2022 |
| Revenue | $2.09B | $1.84B | $1.63B | $1.41B | $1.12B |
| Gross profit | $801.1M | $691.0M | $607.8M | $515.4M | $431.4M |
| Operating expenses | $487.3M | $427.4M | $369.0M | $323.3M | $275.5M |
| Selling, general and administrative | $255.3M | $225.7M | $198.3M | $169.0M | $142.0M |
| Operating income | $313.8M | $263.6M | $238.8M | $192.2M | $155.9M |
| Interest expense | – | – | $13.2M | $8.25M | $7.56M |
| Income tax | $63.7M | $62.9M | $53.5M | $47.6M | $31.9M |
| Net income | $251.0M | $198.3M | $184.6M | $143.0M | $114.8M |
| EPS, basic | $1.56 | $1.22 | $1.11 | $4.29 | $3.42 |
| EPS, diluted | $1.54 | $1.21 | $1.10 | $4.23 | $3.35 |
| Weighted shares, basic | 161.0M | 162.7M | 166.3M | 33.3M | 33.5M |
| Weighted shares, diluted | 162.5M | 164.3M | 168.2M | 33.8M | 34.2M |
| Margins and growth | |||||
| Gross margin | 38.4% | 37.6% | 37.3% | 36.5% | 38.4% |
| Operating margin | 15.0% | 14.3% | 14.6% | 13.6% | 13.9% |
| Net margin | 12.0% | 10.8% | 11.3% | 10.1% | 10.2% |
| Revenue growth, year over year | +13.6% | +12.7% | +15.5% | +25.8% | +17.1% |
| Net income growth, year over year | +26.6% | +7.4% | +29.1% | +24.6% | +28.3% |
Balance sheet
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 24, 2026 | Feb 25, 2025 | Feb 29, 2024 | Feb 23, 2023 | Feb 24, 2022 |
| Cash and equivalents | $146.3M | $153.4M | $137.0M | $118.7M | $135.3M |
| Short-term investments | $182.0M | $187.2M | $153.9M | $179.0M | $178.5M |
| Accounts receivable | $343.1M | $304.3M | $308.1M | $259.2M | $194.2M |
| Total current assets | $830.0M | $795.2M | $679.7M | $612.8M | $578.1M |
| Property, plant and equipment | $109.8M | $100.1M | $99.6M | $82.3M | $85.7M |
| Goodwill | $419.7M | $420.4M | $405.6M | $405.6M | $403.9M |
| Intangible assets | $36.2M | $49.3M | $50.2M | $64.8M | $81.1M |
| Total assets | $1.70B | $1.62B | $1.44B | $1.35B | $1.28B |
| Accounts payable | $4.75M | $5.88M | $5.05M | $7.79M | $6.87M |
| Short-term debt | $4.89M | $4.89M | $65.0M | $30.0M | $260.0M |
| Total current liabilities | $324.1M | $290.1M | $326.4M | $277.9M | $495.7M |
| Long-term debt | $293.7M | $283.6M | $135.0M | $220.0M | $0 |
| Total liabilities | $789.5M | $688.5M | $552.5M | $587.9M | $589.7M |
| Shareholders' equity | $912.7M | $929.9M | $889.4M | $758.2M | $693.2M |
Cash flow statement
Each column is one fiscal year, newest first. Free cash flow is operating cash flow minus capital expenditures.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 24, 2026 | Feb 25, 2025 | Feb 29, 2024 | Feb 23, 2023 | Feb 24, 2022 |
| Operating cash flow | $350.7M | $268.5M | $211.2M | $166.1M | $184.4M |
| Capital expenditures | $52.6M | $46.3M | $52.8M | $44.8M | $37.2M |
| Free cash flow | $298.1M | $222.3M | $158.4M | $121.3M | $147.1M |
| Depreciation and amortization | $59.2M | $55.2M | $50.3M | $56.1M | $49.7M |
| Stock-based compensation | $79.5M | $72.7M | $58.4M | $49.4M | $38.6M |
| Share buybacks | $328.5M | $207.9M | $131.8M | $72.6M | $118.4M |
| Investing cash flow | -$49.3M | -$119.1M | -$12.0M | -$96.5M | -$114.3M |
| Financing cash flow | -$312.8M | -$119.1M | -$181.4M | -$81.7M | -$146.9M |
| Net change in cash | -$5.43M | $26.0M | $19.8M | -$18.2M | -$81.7M |
| Ratio | |||||
| Stock-based compensation, % of revenue | 3.8% | 4.0% | 3.6% | 3.5% | 3.4% |
Shares outstanding
Common shares outstanding as stated on the cover of each 10-K and 10-Q. The date is the cover date, not the period end; a rising count means dilution.
| Cover date | Shares outstanding | Change in a year | Filing |
|---|---|---|---|
| Oct 23, 2026 | 150.8M | −5.0% | SEC |
| Jul 24, 2026 | 151.6M | −6.1% | SEC |
| Apr 24, 2026 | 152.8M | −6.1% | SEC |
| Feb 20, 2026 | 156.4M | −3.6% | SEC |
| Oct 24, 2025 | 158.7M | −1.4% | SEC |
| Jul 25, 2025 | 161.5M | +0.1% | SEC |
| Apr 25, 2025 | 162.7M | +0.2% | SEC |
| Feb 21, 2025 | 162.3M | −2.1% | SEC |
Notes and known gaps
How these numbers are put together, and what they can't tell you.
- Numbers come from the XBRL data in each period's original 10-K, 10-Q, 20-F or 40-F, or its amendment. They are shown as filed: later filings don't restate earlier periods here.
- Reported is the filing date of the first 8-K with Item 2.02 (results of operations) after the period ended, no later than the 10-Q or 10-K and within 120 days. Companies that release results only in the 10-Q, and foreign companies, which use Form 6-K, have none.
Known gaps
- Foreign companies that file Form 20-F or 40-F have annual statements only: their quarterly results are furnished on Form 6-K, which has no XBRL data.
- EPS and share counts are as reported at the time, not adjusted for later stock splits. Stock splits since Dec 31, 2020, from 13F share counts: 5-for-1 in Q3 2023.
- For ADRs, EPS is per ordinary share, not per ADS (one TSMC ADS is five ordinary shares).
- For banks, revenue may be interest income only, depending on how the bank tags its filings; cost of revenue and gross profit are usually blank.
- Companies with several share classes, such as Berkshire Hathaway, may have no EPS and no cover share count.
- Depreciation and amortization is missing for some companies that report it under their own XBRL tags.