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ExlService Holdings EXLS North America — Infrastructure and technology costs

Other geography segments

Rest of World
$10.94M+31.9%

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Other financials

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

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Market cap$5.25B-23.9%
Enterprise value$5.6B-20.9%
P/E21×-8.2×
P/S2.4×-1.2×

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×

Where this comes from

Reported directly by ExlService Holdings in its filing.

Tagged under the XBRL concept us-gaap:DirectOperatingCosts.

The source filing: ExlService Holdings’s 10-Q, filed July 28, 2026.

Filed
Jul 28, 2026, 4:10 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001297989-26-000023
Line itemInsuranceHealthcare and Life SciencesBanking, Capital Markets and Diversified IndustriesInternational Growth MarketsTotal
Revenues, net$197,783$157,968$133,856$105,156$594,763
Cost of revenues(1)
Employee costs105,99266,94273,41554,530300,879
Infrastructure and technology costs15,5328,6658,55010,93943,686
Other costs(2)7,8658,3165,2842,77024,235
Gross profit(1)$68,394$74,045$46,607$36,917$225,963
Operating expenses138,668
Income from operations87,295

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is ExlService Holdings's north america — infrastructure and technology costs?
ExlService Holdings (EXLS) reported north america — infrastructure and technology costs of $32.75M in Q2 2026.
How has ExlService Holdings's north america — infrastructure and technology costs changed year-over-year?
ExlService Holdings's north america — infrastructure and technology costs increased by 22.1% year-over-year, from $26.81M to $32.75M.
What is the long-term trend for ExlService Holdings's north america — infrastructure and technology costs?
Over 2 years (2023 to 2025), ExlService Holdings's north america — infrastructure and technology costs has grown at a 16.1% compound annual growth rate (CAGR), from $81.07M to $109.21M.
What does north america — infrastructure and technology costs mean?
Captures the expenses associated with maintaining the technical infrastructure, software, and hardware necessary to deliver services within the North American region. This reflects the company's investment in digital capabilities and operational scalability. Higher costs may indicate ongoing modernization efforts or increased reliance on proprietary technology platforms.

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