Core Insights - XBP Global Holdings, Inc. reported strong financial results for Q2 2025, showcasing growth in revenue, gross margin, and Adjusted EBITDA, following the acquisition of BPA [2][3][5] Financial Performance - Total revenue for Q2 2025 was $39.6 million, reflecting a year-over-year increase of 17.8% and a sequential increase of 5.2% [7][8] - The Bills & Payments segment generated revenue of $28.8 million, up 15.9% year-over-year and 9.3% sequentially, while the Technology segment revenue was $10.9 million, a 23.2% year-over-year increase but a 4.5% sequential decrease [8] - Gross margin improved to 29.8%, a 1,020 basis points increase year-over-year, although it decreased by 30 basis points sequentially [7][8] - Adjusted EBITDA reached $3.3 million, marking a significant year-over-year increase of 173.8%, despite an 11.2% sequential decline [7][8] Acquisition Impact - The acquisition of BPA was completed on July 30, 2025, with XBP Global expected to achieve annual revenue nearing $900 million and a workforce of approximately 11,000 employees across 20 countries [5][16] - The acquisition resulted in the issuance of approximately 81.8 million new shares, eliminating $1.1 billion of BPA's secured debt, and diversifying the ownership structure with a broader base of institutional shareholders [5][16] Governance and Strategy - XBP Global appointed four new independent board members to enhance governance, emphasizing transparency and long-term value creation for stakeholders [5] - The company aims to integrate the teams from XBP Europe and BPA to improve overall performance and leverage its global scale [3][5] Market Position - XBP Global serves over 2,500 clients, including many Fortune 100 companies, positioning itself as a leader in business process automation and digital transformation [16]

Core Insights - The acquisition of Exela Technologies BPA, LLC by XBP Europe Holdings, Inc. has resulted in the formation of XBP Global Holdings, Inc., with combined annual revenue exceeding $900 million and a net debt-to-EBITDA ratio of approximately 3.5x [1][4][5] Company Overview - XBP Global now operates with a workforce of around 11,000 employees across 19 countries, serving over 2,500 clients, including more than 60 Fortune 100 companies [2][7] - The company aims to enhance its global identity and operational capabilities through this acquisition, positioning itself as a leader in business process automation [3][4] Strategic Benefits - The acquisition is expected to accelerate global expansion and deepen market presence, particularly in key sectors such as healthcare, banking, and the public sector, through substantial investments in AI-powered solutions [4][5] - The enhanced financial position of BPA, following the acquisition, supports organic growth and strategic initiatives, with a trailing net debt-to-adjusted EBITDA ratio of approximately 3.5x [4][5] Governance and Structure - Post-acquisition, XBP Global has diversified its ownership structure with a broader base of institutional shareholders and strengthened its corporate governance framework [5] - The Board of Directors remains majority independent, with new experienced members added to enhance transparency and accountability [5] Integration and Future Plans - XBP Global is committed to a seamless integration process, leveraging the strengths of both organizations to deliver enhanced value and innovative solutions to clients globally [6]

Core Insights - XBP Europe Holdings, Inc. reported financial results for Q1 2025, showing continued revenue growth and gross margin expansion, driven by AI technology and operational improvements [2][4]. Financial Performance - Total revenue for Q1 2025 was $37.7 million, a decrease of 1.2% year-over-year but an increase of 5.7% sequentially [6][7]. - Gross margin improved to 30.1%, reflecting a 380 basis points increase year-over-year and a 190 basis points increase sequentially [6]. - Adjusted EBITDA was $3.7 million, representing a 25.6% increase year-over-year but a 16.1% decrease sequentially [6][7]. Segment Performance - Revenue from the Bills & Payments segment was $26.3 million, down 1.2% year-over-year but up 1.8% sequentially [7]. - Revenue from the Technology segment was $11.4 million, a decrease of 1.0% year-over-year but an increase of 16% sequentially [7]. Operating Loss and Net Loss - The company reported an operating loss of $1.8 million compared to an operating profit of $1.3 million a year ago [7]. - The net loss from continuing operations was $3.9 million, which adjusted for non-cash stock-based compensation, resulted in a net loss of $0 million [7]. Acquisition Plans - XBP Europe has entered into a non-binding letter of intent to acquire Exela Technologies BPA, LLC, which could potentially increase revenue to approximately $1 billion from $143 million on a pro forma basis for the year ending December 31, 2024 [4]. Liquidity Position - As of March 31, 2025, the company had cash and cash equivalents totaling $9.7 million [6].