Summary by Moomoo AI
XBP Europe Holdings, Inc. (XBP), a leading pan-European integrator of bills and payments, announced its financial results for the fiscal year ended December 31, 2023. The company reported a revenue of $166.6 million, a decrease of 7.7% from the previous year, primarily due to the completion of one-time projects and client contract terminations. Despite the revenue decline, the Technology segment of the business grew to represent 27% of total revenue. XBP also highlighted a net loss of $11.0 million, which included restructuring charges and transaction fees. The company won a significant contract valued at approximately $48 million, marking the largest win in the past five years, and secured around $58 million in Annual Contract Value. XBP's CEO, Andrej Jonovic, expressed a focus on growth and investment in sales for existing and new solutions, including Reaktr.ai and XBP Omnidirect. The company also emphasized its commitment to digital transformation and improving liquidity in the market. The financial report was released on April 1, 2024, and included forward-looking statements regarding the company's future plans and objectives.