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ExlService Holdings EXLS Q4 2025 Annual earnings

Reported February 24, 2026 · After market close

Revenue$542.6MBeat by $11.4M
EPS$0.50Beat by $0.04
Revenue estimate$531.2M
EPS estimate$0.46

Next report

Oct 27, 2026 (in 3 months)
Revenue estimate$585.1M
EPS estimate$0.56

Financials

Q4 2025

Income statement

See full
Revenue$542.6M+12.7%
Gross profit$209.6M+14.3%
Operating income$78.0M+9.5%
Net income$60.2M+18.9%
EPS (diluted)$0.37+19.4%

Balance sheet

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Cash & equivalents$166.0M-3.2%
Total debt$405.8M+10.7%
Total equity$912.7M-1.8%
Total assets$1.7B+5.2%

Cash flow

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Operating cash flow$117.4M+11.4%
CapEx$10.9M+7.9%
Free cash flow$106.5M+11.8%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$6.74B-5.7%
Enterprise value$6.98B-4.9%
P/E26.8×-9.2×
P/S3.2×-0.7×

Profitability

See full
Gross margin38.4%+0.8pp
Operating margin15%+0.7pp
Net margin12%+1.2pp
FCF margin14.3%+2.2pp

Returns & leverage

See full
Return on equity27.2%+5.4pp
Debt / equity0.4×+0.1×
Current ratio2.6×-0.2×

Segments

By segment

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Insurance$215.2M+32.8%
Banking, Capital Markets and Diversified Industries$185.0M—
Healthcare and Life Sciences$142.5M—

By geography

See full
North America$450.6M—
The United Kingdom and Europe$78.3M—
International Growth Markets$13.7M-50.4%

By product

See full
Data and AI-led$310.2M—

Versus estimates

Revenue

Q2 2026$594.8MBeat by $20.8MQ1 2026$570.4MBeat by $12.7M
Q4 2025$542.6MBeat by $11.4M
Q3 2025$529.6MBeat by $7.2MQ2 2025$514.5MMiss by $4.9MQ1 2025$501.0MMiss by $1.7M

Diluted EPS

Q2 2026$0.59Beat by $0.04Q1 2026$0.58Beat by $0.05
Q4 2025$0.50Beat by $0.04
Q3 2025$0.48Beat by $0.01Q2 2025$0.49Beat by $0.04Q1 2025$0.48Beat by $0.03

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Questions, answered.

When did ExlService Holdings report Q4 2025 earnings?
ExlService Holdings (EXLS) reported Q4 2025 earnings on February 24, 2026 after market close.
What were ExlService Holdings's Q4 2025 revenue and EPS?
ExlService Holdings reported revenue of $542.6M and eps of $0.50 for Q4 2025.
Did ExlService Holdings beat estimates in Q4 2025?
Revenue beat the consensus estimate of $531.2M by $11.4M. EPS beat the consensus estimate of $0.46 by $0.04.
How did ExlService Holdings's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 12.7% from $481.4M a year earlier and eps grew 13.6% from $0.44.
Where can I find ExlService Holdings's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001297989-26-000006) and the 10-K periodic report (0001297989-26-000008) directly on SEC EDGAR. The filing index links above go to sec.gov.