--- title: "EXLService | 8-K: FY2025 Revenue Beats Estimate at USD 2.088 B" type: "News" locale: "en" url: "https://longbridge.com/en/news/276787098.md" datetime: "2026-02-24T21:14:57.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/276787098.md) - [en](https://longbridge.com/en/news/276787098.md) - [zh-HK](https://longbridge.com/zh-HK/news/276787098.md) --- > Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/276787098.md) | [繁體中文](https://longbridge.com/zh-HK/news/276787098.md) # EXLService | 8-K: FY2025 Revenue Beats Estimate at USD 2.088 B Revenue: As of FY2025, the actual value is USD 2.088 B, beating the estimate of USD 2.078 B. EPS: As of FY2025, the actual value is USD 1.54, beating the estimate of USD 1.517. #### Fourth Quarter 2025 Financial Highlights 伊克赛尔服务控股 (ExlService Holdings, Inc.) reported total revenue of $542.6 million for Q4 2025, an increase of 12.7% on a reported basis and 12.6% on a constant currency basis year-over-year from $481.4 million in Q4 2024, and up 2.5% sequentially from Q3 2025 . ##### Segment Revenue (Q4 2025) - **Insurance**: $185.8 million, compared to $173.3 million in Q4 2024 and $180.5 million in Q3 2025 . - **Healthcare and Life Sciences**: $142.2 million, compared to $112.7 million in Q4 2024 and $135.3 million in Q3 2025 . - **Banking, Capital Markets and Diversified Industries**: $122.6 million, compared to $110.6 million in Q4 2024 and $121.0 million in Q3 2025 . - **International Growth Markets**: $92.0 million, compared to $84.8 million in Q4 2024 and $92.8 million in Q3 2025 . ##### Gross Margin (Q4 2025) - **Total Gross Margin**: 38.6%, compared to 38.1% in Q4 2024 and 38.5% in Q3 2025 . - **Insurance**: 36.5%, compared to 37.1% in Q4 2024 and 36.6% in Q3 2025 . - **Healthcare and Life Sciences**: 44.0%, compared to 43.0% in Q4 2024 and 43.0% in Q3 2025 . - **Banking, Capital Markets and Diversified Industries**: 38.8%, compared to 37.2% in Q4 2024 and 38.3% in Q3 2025 . - **International Growth Markets**: 34.3%, compared to 34.8% in Q4 2024 and 35.8% in Q3 2025 . ##### Operating Income and Margin (Q4 2025) - **GAAP Operating Income**: $78,023 thousand, compared to $71,242 thousand in Q4 2024 and $76,174 thousand in Q3 2025 . - **GAAP Operating Income Margin**: 14.4%, compared to 14.8% in Q4 2024 and 14.4% in Q3 2025 . - **Adjusted Operating Income (Non-GAAP)**: $102,081 thousand, compared to $90,745 thousand in Q4 2024 and $102,623 thousand in Q3 2025 . - **Adjusted Operating Income Margin (Non-GAAP)**: 18.8%, consistent with Q4 2024, and compared to 19.4% in Q3 2025 . ##### Net Income (Q4 2025) - **GAAP Net Income**: $60,246 thousand, compared to $50,672 thousand in Q4 2024 and $58,161 thousand in Q3 2025 . - **Adjusted Net Income (Non-GAAP)**: $80,084 thousand, compared to $71,345 thousand in Q4 2024 and $78,010 thousand in Q3 2025 . ##### Adjusted EBITDA (Non-GAAP) (Q4 2025) - **Adjusted EBITDA**: $115,118 thousand, compared to $102,885 thousand in Q4 2024 and $114,441 thousand in Q3 2025 . - **Adjusted EBITDA Margin**: 21.2%, compared to 21.4% in Q4 2024 and 21.6% in Q3 2025 . #### Full Year 2025 Financial Highlights 伊克赛尔服务控股 (ExlService Holdings, Inc.) reported total revenue of $2.09 billion for the full year 2025, an increase of 13.6% on both a reported and constant currency basis from $1.84 billion in 2024 . ##### Segment Revenue (Full Year 2025) - **Insurance**: $710.6 million, compared to $656.4 million in 2024 . - **Healthcare and Life Sciences**: $532.5 million, compared to $430.7 million in 2024 . - **Banking, Capital Markets and Diversified Industries**: $482.4 million, compared to $426.7 million in 2024 . - **International Growth Markets**: $362.2 million, compared to $324.6 million in 2024 . ##### Gross Margin (Full Year 2025) - **Total Gross Margin**: 38.4%, compared to 37.6% in 2024 . - **Insurance**: 36.1%, compared to 35.3% in 2024 . - **Healthcare and Life Sciences**: 43.6%, consistent with 2024 . - **Banking, Capital Markets and Diversified Industries**: 38.1%, compared to 37.1% in 2024 . - **International Growth Markets**: 35.5%, compared to 35.1% in 2024 . ##### Operating Income and Margin (Full Year 2025) - **GAAP Income from Operations**: $313,750 thousand, compared to $263,620 thousand in 2024 . - **GAAP Operating Income Margin**: 15.0%, compared to 14.3% in 2024 . - **Adjusted Operating Income (Non-GAAP)**: $406,359 thousand, compared to $356,082 thousand in 2024 . - **Adjusted Operating Income Margin (Non-GAAP)**: 19.5%, compared to 19.4% in 2024 . ##### Net Income (Full Year 2025) - **GAAP Net Income**: $251,019 thousand, compared to $198,297 thousand in 2024 . - **Adjusted Net Income (Non-GAAP)**: $316,940 thousand, compared to $271,699 thousand in 2024 . ##### Adjusted EBITDA (Non-GAAP) (Full Year 2025) - **Adjusted EBITDA**: $452,303 thousand, compared to $397,671 thousand in 2024 . - **Adjusted EBITDA Margin**: 21.7%, compared to 21.6% in 2024 . #### Balance Sheet Highlights (as of December 31, 2025) - **Cash and Cash Equivalents**: $146,326 thousand, compared to $153,355 thousand in 2024 . - **Total Assets**: $1,702,235 thousand, compared to $1,618,403 thousand in 2024 . - **Total Liabilities**: $789,530 thousand, compared to $688,541 thousand in 2024 . - **Total Stockholders’ Equity**: $912,705 thousand, compared to $929,862 thousand in 2024 . #### Business Highlights: Fourth Quarter 2025 伊克赛尔服务控股 (ExlService Holdings, Inc.) won 21 new clients in Q4 2025, contributing to a total of 65 new clients for the full year 2025 . The company launched EXLdata.ai, a new suite of AI-native data solutions, and announced a collaboration with the Insurance Council of Australia and Shift to develop an insurance fraud detection platform . 伊克赛尔服务控股 (ExlService Holdings, Inc.) was also recognized as a Leader in multiple ISG Provider Lens reports . #### 2026 Guidance 伊克赛尔服务控股 (ExlService Holdings, Inc.) expects full-year 2026 revenue to be between $2.275 billion and $2.315 billion, indicating a 9% to 11% increase from 2025 on both a reported and constant currency basis . Adjusted diluted EPS is projected to be between $2.14 and $2.19, representing a 10% to 12% increase over 2025 . The Board of Directors authorized a $500 million common stock repurchase program, effective February 28, 2026, for a two-year period . ### Related Stocks - [ExlService Holdings, Inc. (EXLS.US)](https://longbridge.com/en/quote/EXLS.US.md) ## Related News & Research - [EXL announces a strategic services collaboration with Google Cloud | EXLS Stock News](https://longbridge.com/en/news/281564189.md) - [EXL wins Gold Stevie® award in 2026 Stevie Awards for Sales & Customer Service | EXLS Stock News](https://longbridge.com/en/news/280476584.md) - [Key facts: Bunge Increases Securitization to $2.0B; 8-K on Obligation](https://longbridge.com/en/news/281659964.md) - [ExlService Enters Strategic Services Partnership With Google Cloud](https://longbridge.com/en/news/281565445.md) - [EXL granted 10 new patents in the last year for AI solutions | EXLS Stock News](https://longbridge.com/en/news/275342077.md)