Core Insights - Exela Technologies has formed a strategic alliance with Aidéo Technologies to enhance its healthcare solutions, particularly in medical coding and billing automation [5][6]. - The partnership aims to leverage AI technology to improve efficiency and accuracy in the medical billing landscape, benefiting both Exela's and Aidéo's customer bases [5][6]. Company Overview - Exela Technologies is a leader in business process automation (BPA), serving over 4,000 customers across 50 countries, including more than 60% of the Fortune 100 [3]. - The company utilizes a range of foundational technologies, including information management and workflow automation, to provide digital transformation solutions [3]. - Exela employs approximately 13,600 staff and operates in 20 countries, focusing on enhancing quality, productivity, and user experience [3]. Aidéo Technologies Overview - Aidéo Technologies specializes in AI-powered medical coding solutions, offering products that improve coding efficiency and accuracy [3]. - The Gemini Solution Suite from Aidéo is designed to empower medical coders through workflow efficiencies and AI integration [3]. Strategic Partnership Benefits - The collaboration between Exela and Aidéo is expected to create a win-win situation for healthcare providers by reducing costs associated with claims processing and payment collection [2][5]. - The integration of generative AI into Exela's offerings is anticipated to complement existing AI-driven initiatives, enhancing the overall value proposition for customers [5][6].

Exela Technologies (NASDAQ:XELA) stock is on the move Monday after the digital business process services company announced plans for a spinoff of its business process automation (BPA) business. Exela Technologies' board of directors has authorized the spinoff of its BPA business to shareholders of XELA stock. This has it planning to distribute shares of this new company to XELA investors on record as of sometime in Q3 or Q4. Investors won't have to take any action to get the shares in the Exela Technologies ...

Core Viewpoint - Exela Technologies, Inc. is considering a spin-off of its wholly-owned subsidiary, Exela Technologies BPA, LLC, to enhance shareholder value [1][10]. Company Overview - Exela Technologies is a leader in business process automation, providing digital transformation solutions to over 4,000 customers across 50 countries, including more than 60% of the Fortune 100 [3]. - The company employs approximately 13,600 individuals and operates in 20 countries, utilizing foundational technologies in information management, workflow automation, and integrated communications [3]. Spin-off Details - The potential spin-off is being evaluated for its qualification as a tax-free distribution under U.S. federal income tax laws [2]. - If the spin-off occurs, Exela stockholders will receive shares of the newly formed holding company owning the BPA Business, while retaining their current shares in Exela [10]. - No action or payment will be required from Exela stockholders to receive shares in the spin-off [6]. - A registration statement with detailed information regarding the spin-off will be provided to stockholders prior to the distribution date [6][11].

Exela Technologies, Inc. (NASDAQ:XELA) Q1 2024 Earnings Call Transcript May 28, 2024 4:30 PM ET Company Participants Vincent Kondaveeti - Head of IR Matt Brown - Interim CFO Operator Good afternoon, and welcome to the Exela Technologies First Quarter 2024 Financial Results Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note, this event is being recorded. I would n ...

Financial Performance - Revenue was $259 million, a year-over-year decrease of 5.4%, but a sequential decrease of 2.1%[6] - Gross margin was 22.0%, a year-over-year increase of 1.1%[6] - Adjusted EBITDA was $12.9 million, a year-over-year increase of 11.3%, and a sequential increase of 42.4%[6] - Net loss was $(25.6) million, a year-over-year increase of $19.9 million, but a sequential decrease of $(0.6) million[6] - Interest expense was $21.1 million, a year-over-year decrease of 52.3%, and a sequential decrease of 17.9%[6] Segment Performance - Healthcare Solutions revenue was $64.9 million, a year-over-year increase of 2.9%, with a gross margin of 28.8%, a year-over-year increase of 3.0%[9] - Information and Transaction Processing Solutions revenue was $176.1 million, a year-over-year increase of 9.1%, with a gross margin of 18.0%, a year-over-year decrease of 0.2%[9] - Legal and Loss Prevention Services revenue was $17.8 million, a year-over-year increase of 5.6%, with a gross margin of 35.9%, a year-over-year increase of 2.4%[9] Key Highlights - New ACV (Annual Contract Value) won was approximately $27.3 million[8] - ACV renewed was approximately $43.9 million with a 96% renewal rate[8] - The company achieved over $25 million in process savings[8] Other Updates - SG&A expenses were $40.9 million, a year-over-year decrease of 7.9%, but a sequential increase of 5.1%[6] - The company is undergoing facility consolidation, with 104,000 SqFt completed in Q1, part of a 340,000 SqFt plan[10] - There was a $27 million ACV reduction due to a customer exit[11]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 Or (Zip Code) Registrant's Telephone Number, Including Area Code: (844) 935-2832 Securities Registered Pursuant to Section 12(b) of the Act: ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission ...

Exhibit 99.1 Exela Technologies Holdings, Inc. Reports Full Year 2023 Results Full Year Highlights IRVING, TX April 4, 2024 (GLOBE NEWSWIRE) – Exela Technologies, Inc. ("Exela" or the "Company") (NASDAQ: XELA, XELAP), a global business process automation ("BPA") leader, announced today its financial results for the full year ended December 31, 2023. "2023 was a challenging year with focus on stabilizing revenues and recovering from the effects of our network outage in 2022. We made significant improvement t ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36788 EXELA TECHNOLOGIES, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 47-1347291 (State o ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-36788 EXELA TECHNOLOGIES, INC. (Exact Name of Registrant as Specified in its Charter) (State of or other Jurisdictio ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-36788 EXELA TECHNOLOGIES, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 47-1347291 (State of or ot ...