Core Insights - Exela Technologies has announced a strategic partnership with Michael Page to enhance its Finance and Accounting Outsourcing (FAO) services [1][2] - The collaboration aims to expand Exela's Center of Excellence across various corporate functions, utilizing Build-Operate-Transfer, Captive, and Business Processes as a Service models [2][3] - This partnership is expected to strengthen Exela's position as a trusted provider of tailored financial solutions for enterprise clients [2][4] Company Overview - Exela Technologies is a leader in business process automation (BPA), serving over 4,000 customers in 50 countries, including more than 60% of the Fortune 100 [5] - The company leverages proprietary technology to provide digital transformation solutions that enhance quality, productivity, and user experience [5] - Exela operates with approximately 15,000 employees across 21 countries, offering integrated technology and operations as part of an end-to-end digital journey [5] Partnership Details - The partnership with Michael Page is designed to combine expertise in leadership recruitment with Exela's finance outsourcing capabilities [4] - This collaboration is positioned to help organizations in India and beyond build resilient, high-performing teams [4] - The partnership reflects Exela's commitment to driving growth and innovation in finance outsourcing and shared services as it enters FY25 [4]

Delisting and Deregistration Process - The company's Board of Directors approved the voluntary delisting of its securities from Nasdaq and deregistration under the U.S. Securities Exchange Act of 1934 [1] - The decision was influenced by the Nasdaq Suspension and expected reduction in operating expenses associated with continued listing and reporting [1] - Nasdaq notified the company on November 6, 2024, that its securities would be delisted due to violation of Nasdaq Listing Rule 5550(b)(2), as the market value of listed securities was below the minimum requirement of $35 million for 30 consecutive business days [2] - Trading of the company's securities on Nasdaq was suspended on November 8, 2024 [2] - The company intends to file a Form 25 with the SEC to voluntarily delist its securities from Nasdaq, with the delisting expected to become effective ten days after the filing [2] - Following the delisting, the company plans to file a Form 15 with the SEC to deregister its securities under the Exchange Act, which will suspend its obligation to file periodic and current reports with the SEC [3] Post-Suspension Trading and Company Rights - After the Nasdaq Suspension, the company's common stock and Series B preferred stock began trading on the OTC Markets system under the symbols "XELA" and "XELAP," respectively, effective November 8, 2024 [4] - The company reserves the right to delay or withdraw the aforementioned filings prior to their effectiveness and will issue further announcements if required under listing rules or applicable laws and regulations [4] Company Overview - Exela Technologies is a global leader in business process automation (BPA), providing digital transformation solutions to enhance quality, productivity, and end-user experience [5] - The company serves over 4,000 customers across 50 countries, including more than 60% of the Fortune® 100 [5] - Exela's software and services include multi-industry solution suites for finance and accounting, human capital management, and legal management, as well as industry-specific solutions for banking, healthcare, insurance, and the public sector [5] - The company operates with approximately 15,000 employees in 21 countries, utilizing cloud-enabled platforms and a configurable stack of automation modules [5] Investor Relations and Media - Investors and media can access Exela's financial news by subscribing to Email Alerts on the Exela Investor Relations website [6] - The company's website and social media accounts may contain material information for investors, who are advised to monitor these channels in addition to press releases, SEC filings, and public conference calls [8]

Core Insights - Exela Technologies, Inc. has been recognized as a Strong Performer in The Forrester Wave™: Task-Centric Automation Software, Q4 2024, highlighting its position in the business process automation sector [1][4] Company Overview - Exela Technologies is a leader in business process automation (BPA), providing digital transformation solutions that enhance quality, productivity, and user experience [5] - The company serves over 4,000 customers across 50 countries, including more than 60% of the Fortune® 100 [5] - Exela's offerings include multi-industry and departmental solution suites for finance, human capital management, and legal management, as well as industry-specific solutions for banking, healthcare, insurance, and the public sector [5] Evaluation Findings - Exela excels in intelligent content and document processing, setting a high standard in this area [3] - The company's strategic vision is focused on innovation and continuous enhancement of its product offerings [3] - Customers appreciate Exela's combination of robust task-centric automation products with human augmentation services, which support the success of their automation projects [3] Strategic Positioning - Exela's technology stack is particularly suitable for organizations seeking strong content and document processing solutions with an interest in AI for task-centric automation projects [4] - The recognition as a Strong Performer reinforces Exela's commitment to delivering exceptional value and innovative solutions to its customers across various industries [4]

Financial Data and Key Metrics Changes - The company reported Q3 2024 revenues of $269.2 million, representing a 6.3% year-over-year increase [5] - Gross margins for Q3 were 20.2%, down 330 basis points sequentially and 140 basis points year-over-year, primarily due to higher postage costs [6] - The company experienced a net loss of $24.9 million, an improvement of $2 million sequentially, with adjusted EBITDA at $14.6 million [8] Business Line Data and Key Metrics Changes - Information and Transaction Processing Solutions (ITPS) increased by 11.5% year-over-year, while Healthcare Solutions and Legal and Loss Prevention Services (LLPS) declined by 5.3% and 2.4% year-over-year, respectively [5] - Sequentially, ITPS was up 22.4%, while Healthcare Solutions and LLPS were down 6.7% and 28.8%, respectively [5] - LLPS margins decreased by approximately 1,000 basis points, while ITPS margin was down 100 basis points and healthcare margin was up 160 basis points [6] Market Data and Key Metrics Changes - The company renewed over $113 million of Total Contract Value (TCV) in the quarter and won approximately $40 million of new Annual Contract Value (ACV) [9] - The company added 81 new logos during the quarter, indicating growth opportunities [9] Company Strategy and Development Direction - The focus for the remainder of the year is on revenue growth, increasing gross margin, and strategic growth initiatives [11] - The company is shifting from CapEx to OpEx by moving data center infrastructure to the cloud and investing in new business divisions such as Reaktr.ai [7] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about achieving many objectives for the year, focusing on improving profitability and liquidity [11] - Despite being delisted from NASDAQ due to market cap issues, the company will continue operations without disruption [10] Other Important Information - The company has consolidated over 300,000 square feet of real estate and has an additional 65,000 square feet of consolidations in process for Q4 [8] Q&A Session Summary - No specific questions or answers were provided in the transcript, as the session was opened for questions but not detailed in the provided content [12]

Core Points - Exela Technologies, Inc. will host a conference call to discuss its financial results for the third quarter of 2024 on November 29, 2024, at 4:30 p.m. ET [1][2] - The call will be led by Matt Brown, the Interim Chief Financial Officer of Exela [3] - A replay of the conference call will be available until December 6, 2024 [4] Company Overview - Exela Technologies is a leader in business process outsourcing and automation, serving over 4,000 customers globally, including more than 60% of the Fortune 100 [6] - The company provides technology-enabled solutions that address transaction processing and enterprise information management challenges [6] - Exela operates with approximately 12,600 employees across 20 countries, utilizing a configurable stack of automation modules [6]

Core Viewpoint - Exela Technologies, Inc. will host a conference call to discuss its financial results for the second quarter of 2024 on August 28, 2024, at 4:30 p.m. ET, led by Interim Chief Financial Officer Matt Brown [1]. Group 1: Conference Call Details - The conference call will be accessible via Exela's Investor Relations website and will be broadcast live [2]. - Call-in numbers include 833-255-2831 for domestic and +1-412-902-6724 for international participants, with a passcode required for access [2]. - A replay of the call will be available until September 4, 2024, with specific numbers provided for replay access [2]. Group 2: Company Overview - Exela Technologies is a leader in business process outsourcing and automation, serving over 4,000 customers globally, including more than 60% of the Fortune 100 [4]. - The company utilizes proprietary technology to facilitate digital transformation through user-friendly software platforms and solutions [4]. - Exela's services cover various sectors, including finance, healthcare, and legal management, supported by approximately 13,100 employees across 20 countries [4].

Financial Performance - Revenue for Q2 2024 was $245.7 million, a decline of 10.0% year-over-year from $272.9 million in Q2 2023 [3][19] - Gross margin improved to 23.5%, up 120 basis points year-over-year, attributed to lower costs [4][6] - Interest expense decreased significantly to $23.1 million, down 48.7% year-over-year due to debt modification [4][6] - Selling, General and Administrative (SG&A) expenses rose to $41.8 million, an increase of 30.5% year-over-year, influenced by higher non-cash write-downs [5][6] - Operating loss was reported at $2.4 million, compared to an operating profit of $11.2 million in Q2 2023 [6][19] - Net loss for the quarter was $26.9 million, an improvement of $4.0 million year-over-year [6][19] - Adjusted EBITDA was $13.7 million, down 39.0% year-over-year from $22.5 million [7][24] Segment Performance - Revenue from Information and Transaction Processing Solutions segment was $156.8 million, a decline of 15.2% year-over-year [3] - Healthcare Solutions generated $62.9 million in revenue, reflecting a 1.1% decline year-over-year [4] - Legal & Loss Prevention Services saw revenue increase to $25.9 million, a 6.3% rise year-over-year [4] Management Commentary - The Executive Chairman noted that increased operating leverage and cost management efforts contributed to the gross margin expansion, expressing cautious optimism for the second half of the year [2]

Core Insights - Exela Technologies has been recognized as one of America's Greatest Workplaces for 2024 by Newsweek and Plant-A Insights Group, achieving a perfect 5-star rating in Diversity and Mental Wellbeing categories [6][2]. Company Overview - Exela Technologies is a leader in business process automation (BPA), providing digital transformation solutions that enhance quality, productivity, and end-user experience [4]. - The company serves over 4,000 customers across 50 countries, including more than 60% of the Fortune 100, leveraging foundational technologies in information management, workflow automation, and integrated communications [4]. - Exela employs approximately 13,600 individuals operating in 20 countries, focusing on delivering integrated technology and operations as a digital journey partner [4]. Commitment to Workplace Culture - The company emphasizes diversity, equity, inclusion, and mental well-being, aiming to create a supportive environment where employees feel valued and empowered [7][2]. - Exela's culture is designed to foster a sense of belonging, provide growth opportunities, and ensure work-life balance for all employees [7].

Core Points - Exela Technologies, Inc. has been recognized as one of America's Greatest Workplaces for 2024 by Newsweek and Plant-A Insights Group, achieving a perfect 5-star rating in Diversity and Mental Wellbeing categories [1][2][3] Group 1: Company Recognition - The recognition as a top workplace reflects Exela's commitment to creating an inclusive and supportive environment for employees [2][3] - Exela's perfect scores in Diversity and Mental Wellbeing highlight its dedication to fostering a workplace where employees feel valued and empowered [2][3] Group 2: Company Culture and Values - Exela prioritizes diversity, equity, inclusion, and mental well-being, aiming to create a supportive environment for all employees [2][4] - The company focuses on fostering a sense of belonging, providing growth opportunities, and ensuring work-life balance [2][4] Group 3: Company Overview - Exela Technologies is a leader in business process automation (BPA), serving over 4,000 customers in 50 countries, including more than 60% of the Fortune 100 [4] - The company utilizes foundational technologies in information management, workflow automation, and integrated communications to enhance quality and productivity [4]

Strategic Partnership and Expansion - PCH Global, Exela's healthcare platform, is expanding its capabilities and customer base by providing solutions for healthcare providers and payers [1] - Exela Technologies announces a strategic alliance with AIDEO Technologies, a leading AI platform specializing in autonomous coding for healthcare, aiming to revolutionize medical billing through enhanced efficiency and accuracy [2] - The partnership integrates generative AI across Exela's products and services, complementing other AI-driven efforts [2] Company Overview and Capabilities - Exela Technologies is a leader in business process automation (BPA) with a global footprint, serving over 4,000 customers across 50 countries, including more than 60% of the Fortune® 100 [7] - The company leverages proprietary technology to provide digital transformation solutions, enhancing quality, productivity, and end-user experience [7] - Exela's software and services include multi-industry solutions for finance, human capital management, legal management, and industry-specific solutions for banking, healthcare, insurance, and the public sector [7] AIDEO Technologies' Role and Solutions - AIDEO Technologies is a leading provider of AI-powered medical coding productivity solutions, focusing on revenue cycle management [7] - The Gemini Solution Suite by AIDEO includes the Gemini Coder Platform™, Gemini AutoCode™, and Gemini Full Service™, designed to improve efficiency and accuracy through workflow improvements and autonomous coding [7] - The integration of AIDEO's capabilities with PCH Global is expected to lower costs for providers in processing claims and obtaining payments [10] Industry Impact and Future Outlook - The collaboration between Exela and AIDEO is expected to bring innovative AI technology to customers, enhancing the PCH Global ecosystem [3] - Medical coding is identified as a critical component of the healthcare revenue cycle, with the partnership aiming to streamline processes and reduce costs [10]