EXL Reports 2024 Fourth Quarter and Year-End Results; Issues 2025 Guidance

Financial Performance - Q4 2024 revenue reached $481.4 million, marking a 16.3$414.1 million in Q4 2023 [1][3] - Full year 2024 revenue totaled $1.84 billion, up 12.7$1.63 billion in 2023 [7][12] - Q4 2024 diluted EPS (GAAP) was $0.31, a 28.4$0.24 in Q4 2023 [1][6] - Full year 2024 diluted EPS (GAAP) was $1.21, up 10.0$1.10 in 2023 [1][12] Business Highlights - The company launched an enterprise AI platform in partnership with NVIDIA and introduced an insurance-specific large language model [2] - EXL's focus on innovation led to industry-leading revenue growth of 12.7% and adjusted EPS growth of 15.4% in 2024 [2] - The company won 17 new clients in Q4 2024, with a total of 69 new clients for the year [12] Segment Performance - Revenue from the Insurance segment for Q4 2024 was $162.0 million, up from$139.1 million in Q4 2023 [4] - The Analytics segment generated $207.7 million in Q4 2024, compared to$182.0 million in Q4 2023 [4] - For the full year 2024, the Insurance segment revenue was $614.0 million, an increase from$529.9 million in 2023 [8] Future Guidance - For 2025, the company expects revenue between $2.025 billion and$2.060 billion, representing a 10% to 12% increase year-over-year [2][19] - Adjusted diluted EPS for 2025 is projected to be in the range of $1.83 to$1.89, indicating an 11% to 14% increase from 2024 [2][19] Strategic Initiatives - The company is changing its operating model to focus on Industry Market Units and Strategic Growth Units to enhance client relationships and expand market reach [10][11] - EXL aims to deepen client relationships and unlock new buying centers through its new operating model [11]