Exela Technologies(XELA) - 2022 Q4 - Earnings Call Presentation

Financial Performance & Highlights - 2022 revenue reached $1.077 billion, a decrease of approximately 4% year-over-year when excluding the impacts of inflation, tight job market, business mix, rising dollar, and one-time events[13, 29] - Adjusted EBITDA for 2022 was $139.9 million, a decrease of $33.4 million compared to 2021[13, 29] - In Q4 2022, revenue was $267 million, a decrease of 9.3% year-over-year[31] - Q4 2022 Adjusted EBITDA reached $35.5 million[31] - Gross profits for 2022 were $199.9 million, a decrease of $77.9 million compared to 2021[29] Debt Reduction & Strategic Actions - $296 million in aggregate debt was extinguished, including $162.9 million due in 2022 and $133.3 million due in 2023[16, 40] - Net debt reduction in 2022 amounted to $141 million[16] - The company is targeting debt reduction in the range of $250 million to $500 million[18] - Plans include an exchange offer to purchase approximately $250 million of debt issued by Intermediate, including debt maturing in 2023[18, 42] Growth & Future Objectives - Won $457 million in new Total Contract Value (TCV) and renewed TCV of $287.7 million in 2022[13] - Digital Asset platforms DMR SMB customers grew 178% and DrySign® users grew 481% year-over-year in Q4 2022[13] - The company aims to grow revenue in low single digits and improve Adjusted EBITDA by 200 bps in 2023[42]