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ExlService Holdings EXLS Q2 2026 earnings

Reported July 28, 2026 · After market close

Revenue$594.8MBeat by $20.8M
Adjusted EPS$0.59Beat by $0.04
Revenue estimate$573.9M
EPS estimate$0.55
“We entered 2026 with strong momentum that accelerated through the first half, delivering second quarter revenue growth of 16% year-on-year and adjusted diluted EPS of 22% year-on-year. Our sustained double-digit growth reflects continued execution of our data and AI strategy and our differentiated position which helps clients effectively adopt AI across the enterprise. We have very good visibility into the balance of the year and look forward to a solid finish to 2026.”
Rohit Kapoor

Next report

Oct 27, 2026 (in a month)
Revenue estimate$615.3M
EPS estimate$0.56

Financials

Q2 2026

Income statement

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Revenue$594.8M+15.6%
Gross profit$226.0M+16.4%
Operating income$87.3M+7.6%
Net income$64.5M-2.3%
EPS (diluted)$0.42+5.0%

Balance sheet

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Cash & equivalents$146.8M-13.9%
Total debt$490.2M+42.9%
Total equity$866.2M-18.4%
Total assets$1.7B+2.3%

Cash flow

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Operating cash flow$87.9M-19.6%
CapEx$14.5M+0.6%
Free cash flow$73.4M-22.7%

Valuation & ratios

Valuation

as of 09/16/26
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Market cap$5.5B-19.5%
Enterprise value$5.85B-16.6%
P/E22×-6.9×
P/S2.5×-1.0×

Profitability

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Gross margin38.5%+0.5pp
Operating margin14.9%-0.3pp
Net margin11.2%-0.8pp
FCF margin12.3%-1.8pp

Returns & leverage

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Return on equity25.9%+1.2pp
Debt / equity0.6×+0.2×
Current ratio1.2×-1.9×

Segments

By segment

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Insurance$233.7M+15.0%
Banking, Capital Markets and Diversified Industries$202.8M+11.7%
Healthcare and Life Sciences$158.3M+22.0%

By geography

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North America$489.6M+15.8%
The United Kingdom and Europe$89.4M+15.2%
International Growth Markets$15.8M+12.6%

By product

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Data and AI-led$362.6M+30.1%
Digital operations$232.2M—

FAQ

When did ExlService Holdings report Q2 2026 earnings?
ExlService Holdings (EXLS) reported Q2 2026 earnings on July 28, 2026 after market close.
What were ExlService Holdings's Q2 2026 revenue and EPS?
ExlService Holdings reported revenue of $594.8M and adjusted eps of $0.59 for Q2 2026.
Did ExlService Holdings beat estimates in Q2 2026?
Revenue beat the consensus estimate of $573.9M by $20.8M. EPS beat the consensus estimate of $0.55 by $0.04.
How did ExlService Holdings's Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 15.6% from $514.5M a year earlier.
Where can I find ExlService Holdings's Q2 2026 SEC filings?
You can read the 8-K earnings release (0001297989-26-000021) and the 10-Q periodic report (0001297989-26-000023) directly on SEC EDGAR. The filing index links above go to sec.gov.