The following is a summary of the ExlService Holdings, Inc. (EXLS) Q1 2024 Earnings Call Transcript:
Financial Performance:
ExlService Holdings reported Q1 revenue of $436 million, an increase of 9% year-over-year.
The company reported an adjusted EPS of $0.38, which is a 9% increase from the previous year.
Their Analytics segment generated revenue of $191 million, a 5% increase both YoY and sequentially.
Their Digital Operations & Solutions business generated revenue of $246 million, a growth of 6% sequentially and 12% YoY.
The adjusted operating margin for the quarter was 18.9%, a decrease due to increased investments.
The company revised its 2024 outlook to include a revenue range of $1.79 billion to $1.82 billion, and adjusted EPS between $1.58 and $1.62.
Business Progress:
EXL experienced strong growth in its health care payment services and data management, with growth in insurance segment of 15.6% YoY.
The company organized an 'AI in action' customer symposium and implemented successful AI-based solutions for major clients.
EXL's adoption of AI has delivered high accuracy rates, reduced customer repeat calls, and improved customer experience.
The company made significant appointments in senior leadership to bolster its data and AI strategy.
Investments are being made in the development and application of Gen AI, which is expected to bring improved margins.
Despite challenges in the macroeconomic environment, EXL sees business opportunities in the adoption of Gen AI technologies by their clients.
Future plans include adding engineering and AI expertise, with potential M&A activities on the horizon to strengthen their capabilities in AI and data management.
More details: ExlService IR
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