Summary by Moomoo AI
XBP Europe Holdings, a pan-European integrator of bills, payments, and related solutions, reported a consolidated revenue decrease of 7.7% to $166.6 million for the year ended December 31, 2023, compared to $180.5 million in the previous year. The company's Bills & Payments segment experienced an 11.0% decline in revenue, primarily due to the completion of one-time projects and a client contract end, partially offset by new business. Conversely, the Technology segment saw a 2.5% increase in revenue, driven by higher software license sales and technology implementation services. Net loss widened to $11.0 million from $7.9 million year-over-year, while Adjusted EBITDA decreased to $11.6 million from $14.5 million. The company's cost of revenue decreased by 6.8%, and SG&A expenses rose by 5.2%. XBP Europe Holdings also highlighted its...Show More