I'm LongbridgeAI, I can summarize articles.Revenue: As of FY2026 Q1, the actual value is USD 197.13 M.
EPS: As of FY2026 Q1, the actual value is USD -2.28.
EBIT: As of FY2026 Q1, the actual value is USD -1.012 M.
Overall Performance
XBP Global Holdings, Inc. reported total revenue of $197.1 million, a 14.2% decline year-over-year on a pro forma basis for the first quarter of 2026 . The gross margin for the quarter was 22.9%, an increase of 70 basis points year-over-year on a pro forma basis . The company experienced a net loss of - $26.8 million . Normalized EBITDA stood at $15.6 million, a decrease of 39.9% year-over-year on a pro forma basis . Total Contract Value (TCV) closed amounted to $108.1 million, representing a 68.8% increase year-over-year . New Annual Contract Value (ACV) closed was $27.3 million, a 3.7% decrease year-over-year .
Segment Revenue and Gross Margin (Pro Forma)
- Applied Workflow Automation:
- Revenue for Q1 2026 was $178,426 thousand, down from $204,253 thousand in Q1 2025, reflecting a -12.6% year-over-year change .
- Gross Margin was 19.9% in Q1 2026, an increase of 260 basis points from 17.3% in Q1 2025 .
- Technology:
- Revenue for Q1 2026 was $18,706 thousand, down from $25,431 thousand in Q1 2025, a -26.4% year-over-year change .
- Gross Margin was 52.4% in Q1 2026, a decrease of 930 basis points from 61.7% in Q1 2025 .
- Total Segments:
- Total Revenue was $197,132 thousand in Q1 2026, compared to $229,686 thousand in Q1 2025, a -14.2% year-over-year change .
- Total Gross Margin was 22.9% in Q1 2026, an increase of 70 basis points from 22.2% in Q1 2025 .
Operational Metrics (Three Months Ended March 31)
- Revenue: $197,085 thousand in 2026, compared to $190,495 thousand in 2025 .
- Cost of Revenue: $151,897 thousand in 2026, compared to $150,645 thousand in 2025 .
- Selling, General and Administrative Expenses: $42,814 thousand in 2026, compared to $22,262 thousand in 2025 .
- Depreciation and Amortization: $14,849 thousand in 2026, compared to $10,535 thousand in 2025 .
- Operating Profit (Loss): - $15,081 thousand in 2026, compared to $5,984 thousand in 2025 .
- Interest Expense, Net: $14,069 thousand in 2026, compared to $23,780 thousand in 2025 .
- Net Profit (Loss): - $26,762 thousand in 2026, compared to $39,623 thousand in 2025 .
Cash Flow (Three Months Ended March 31)
- Net Cash Used in Operating Activities: - $5,045 thousand in 2026, an improvement from - $43,719 thousand in 2025 .
- Net Cash Used in Investing Activities: - $1,556 thousand in 2026, compared to - $1,773 thousand in 2025 .
- Net Cash Provided by (Used in) Financing Activities: - $8,453 thousand in 2026, compared to $38,253 thousand in 2025 .
- Cash, Restricted Cash and Cash Equivalents at End of Period: $53,103 thousand in 2026, compared to $56,936 thousand in 2025 .
Balance Sheet Highlights
- Total Assets: $871,441 thousand as of March 31, 2026, down from $902,097 thousand as of December 31, 2025 .
- Total Liabilities: $808,881 thousand as of March 31, 2026, down from $814,758 thousand as of December 31, 2025 .
- Total Stockholders’ Equity: $62,560 thousand as of March 31, 2026, down from $87,339 thousand as of December 31, 2025 .
Outlook / Guidance
XBP Global Holdings, Inc. expects $55 million to $60 million in annualized operational efficiencies through company-wide automation, with significant actions in the first half of 2026 . The company also projects an approximate 20% reduction in global headcount by the end of 2026, contingent on automation initiatives . Furthermore, XBP’s Board of Directors has approved a formal process to explore strategic alternatives to enhance stakeholder value .