EXL Reports 2026 Third Quarter Results

2026 Thi d Qua te Reve ue of $634.0 Millio , up 19.7% yea -ove -yea

Q3 Diluted EPS (GAAP) of $0.45, up 25.3% f om $0.36 i Q3 of 2025

Q3 Adjusted Diluted EPS (No -GAAP) ⁽¹⁾ of $0.62, up 28.5% f om $0.48 i Q3 of 2025

NEW YORK, Oct. 27, 2026 (GLOBE NEWSWIRE) — ExlSe vice Holdi gs, I c. (NASDAQ: EXLS), a global data a d AI compa y, today a ou ced its fi a cial esults fo the qua te e ded Septembe 30, 2026.

Chai ma a d Chief Executive Office Rohit Kapoo said, “We e te ed 2026 with st o g mome tum that has accele ated th ough the yea , delive i g thi d qua te eve ue g owth of 20% yea -o -yea a d adjusted diluted EPS g owth of 29% yea -o -yea . Eve y segme t of ou busi ess g ew mo e tha 15% o ga ically. Data a d AI-led eve ue, almost two-thi ds of ou busi ess, g ew 36% o a epo ted basis a d 31% o ga ically. These esults eflect the st e gth of ou data a d AI st ategy a d ou diffe e tiated ma ket positio : deep domai expe tise combi ed with data a d AI capabilities that help clie ts make AI wo k effectively ac oss the e te p ise. Ou busi ess model affo ds us ve y good visibility i to the bala ce of the yea , a d we look fo wa d to a solid fi ish to 2026.”

Chief Fi a cial Office Mau izio Nicolelli said, “Ou st o g thi d qua te pe fo ma ce gives us the co fide ce to aise ou full-yea outlook o ce agai . We ow expect full-yea 2026 total eve ue to be i the a ge of $2.430 billio to $2.440 billio , up f om ou p io guida ce of $2.390 billio to $2.415 billio , eflecti g 16% to 17% yea -ove -yea g owth o a epo ted basis a d 15% o a o ga ic co sta t cu e cy basis. We ow expect adjusted diluted ea i gs pe sha e of $2.34 to $2.36, a 20% to 21% i c ease ove 2025, up f om ou p io guida ce of $2.25 to $2.29.”

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(1)   Reco ciliatio s of adjusted ( o -GAAP) fi a cial measu es to the most di ectly compa able GAAP measu es, whe e applicable, a e i cluded at the e d of this elease u de “Reco ciliatio of Adjusted Fi a cial Measu es to GAAP Measu es.” These o -GAAP measu es, i cludi g adjusted diluted EPS a d co sta t cu e cy measu es, a e ot measu es of fi a cial pe fo ma ce p epa ed i acco da ce with GAAP.Fi a cial Highlights: Thi d Qua te 2026

• Reve ue fo the qua te e ded Septembe 30, 2026, i c eased to $634.0 millio compa ed to $529.6 millio fo the thi d qua te of 2025, a i c ease of 19.7% o a epo ted basis a d 19.9% o a co sta t cu e cy basis. Reve ue i c eased by 6.6% seque tially, both o a epo ted basis a d o a co sta t cu e cy basis, f om the seco d qua te of 2026.

• Ope ati g i come ma gi fo the qua te e ded Septembe  30, 2026 was 14.0%, compa ed to 14.4% fo the thi d qua te of 2025 a d 14.7% fo the seco d qua te of 2026. Adjusted ope ati g i come ma gi fo the qua te e ded Septembe  30, 2026 was 19.3%, compa ed to 19.4% fo the thi d qua te of 2025 a d 19.7% fo the seco d qua te of 2026.
• Diluted ea i gs pe sha e fo the qua te e ded Septembe 30, 2026 was $0.45, compa ed to $0.36 fo the thi d qua te of 2025 a d $0.42 fo the seco d qua te of 2026. Adjusted diluted ea i gs pe sha e fo the qua te e ded Septembe 30, 2026 was $0.62, compa ed to $0.48 fo the thi d qua te of 2025 a d $0.59 fo the seco d qua te of 2026.

Busi ess Highlights: Thi d Qua te 2026

• Completed the acquisitio of iMe it, establishi g a Model T ai i g Solutio s p actice.
• Wo 14 ew clie ts i the thi d qua te of 2026.
• Ma ked EXL’s 20th yea as a publicly listed compa y by lau chi g its ew “Go Beyo d” b a d.
• Ea ed multiple Leade ecog itio s f om ISG i Healthca e AI a d I su a ce Se vices.
• Ea ed 2026 G eat Place To Wo k Ce tificatio ™ i the U.S. a d Colombia.
• EXL closed ew $1 billio se io secu ed c edit facility.

2026 Guida ceBased o cu e t visibility, a d a U.S. dolla to I dia upee excha ge ate of 95, U.K. pou d ste li g to U.S. dolla excha ge ate of 1.33, U.S. dolla to the Philippi e peso excha ge ate of 63 a d all othe cu e cies at cu e t excha ge ates, we a e p ovidi g the followi g guida ce fo the full yea 2026:

• Reve ue of $2.430 billio to $2.440 billio , ep ese ti g a i c ease of 16% to 17% o a epo ted basis, a d 15% o a o ga ic co sta t cu e cy basis f om 2025.
• Adjusted diluted ea i gs pe sha e of $2.34 to $2.36, ep ese ti g a i c ease of 20% to 21% f om 2025.

Co fe e ce Call

ExlSe vice Holdi gs, I c. will host a co fe e ce call o Wed esday, Octobe 28, 2026, at 10:00 A.M. ET to discuss the Compa y’s thi d qua te ope ati g a d fi a cial esults. The co fe e ce call will be available live via the i te et by accessi g the i vesto elatio s sectio of EXL’s website at i .exlse vice.com, whe e a accompa yi g i vesto -f ie dly sp eadsheet of histo ical ope ati g a d fi a cial data ca also be accessed. Please access the website at least fiftee mi utes p io to the call to egiste , dow load a d i stall a y ecessa y audio softwa e.

To joi the live call, please egiste he e. A dial-i a d u ique PIN will be p ovided to joi the call. Fo those who ca ot access the live b oadcast, a eplay will be available o the EXL website i .exlse vice.com fo a pe iod of twelve mo ths.

About ExlSe vice Holdi gs, I c.

EXL (NASDAQ: EXLS) is a global data a d a tificial i tellige ce (“AI”) compa y that offe s se vices a d solutio s to ei ve t clie t busi ess models, d ive bette outcomes a d u lock g owth with speed. EXL ha esses the powe of data, AI, a d deep i dust y k owledge to t a sfo m busi esses, i cludi g the wo ld’s leadi g co po atio s i i dust ies i cludi g i su a ce, healthca e a d life scie ces, ba ki g a d capital ma kets, etail, commu icatio s a d media, a d e e gy a d i f ast uctu e, amo g othe s. EXL was fou ded i 1999 with the co e values of i ovatio , collabo atio , excelle ce, i teg ity a d espect. We a e headqua te ed i New Yo k a d have ove 74,000 employees spa i g six co ti e ts. Fo mo e i fo matio , visit www.exlse vice.com. 

Cautio a y Stateme t Rega di g Fo wa d-Looki g Stateme ts This p ess elease co tai s fo wa d-looki g stateme ts withi the mea i g of the U ited States P ivate Secu ities Litigatio Refo m Act of 1995. You should ot place u due elia ce o those stateme ts because they a e subject to ume ous u ce tai ties a d facto s elati g to EXL’s ope atio s a d busi ess e vi o me t, all of which a e difficult to p edict a d ma y of which a e beyo d EXL’s co t ol. Fo wa d-looki g stateme ts i clude i fo matio co ce i g EXL’s possible o assumed futu e esults of ope atio s, i cludi g desc iptio s of its busi ess st ategy. These stateme ts may i clude wo ds such as “may,” “will,” “should,” “believe,” “expect,” “a ticipate,” “i te d,” “pla ,” “estimate” o simila exp essio s. These stateme ts a e based o assumptio s that we have made i light of ma ageme t’s expe ie ce i the i dust y as well as its pe ceptio s of histo ical t e ds, cu e t co ditio s, expected futu e developme ts a d othe facto s it believes a e app op iate u de the ci cumsta ces. You should u de sta d that these stateme ts a e ot gua a tees of pe fo ma ce o esults. They i volve k ow a d u k ow isks, u ce tai ties a d assumptio s. Although EXL believes that these fo wa d-looki g stateme ts a e based o easo able assumptio s, you should be awa e that ma y facto s could affect EXL’s actual fi a cial esults o esults of ope atio s a d could cause actual esults to diffe mate ially f om those i the fo wa d-looki g stateme ts. These facto s, which i clude ou ability to successfully i teg ate the iMe it acquisitio o futu e st ategic acquisitio s o achieve a ticipated sy e gies, ou ability to mai tai a d g ow clie t dema d, isks elated to the use of AI tech ology, impact o clie t dema ds by ou selli g cycles, ou ability to hi e a d etai sufficie tly t ai ed employees, a d ou ability to accu ately estimate a d/o ma age costs, a d isks elated to the i te atio al atu e of ou busi ess a d othe facto s a e discussed i mo e detail i EXL’s fili gs with the Secu ities a d Excha ge Commissio , i cludi g EXL’s A ual Repo t o Fo m 10-K. You should keep i mi d that a y fo wa d-looki g stateme t made he ei , o elsewhe e, speaks o ly as of the date o which it is made. New isks a d u ce tai ties come up f om time to time, a d it is impossible to p edict these eve ts o how they may affect EXL. EXL has o obligatio to update a y fo wa d-looki g stateme ts afte the date he eof, except as equi ed by applicable law.

(1) Exclusive of dep eciatio a d amo tizatio expe se.

EXLSERVICE HOLDINGS, INC.

Reco ciliatio of Adjusted Fi a cial Measu es to GAAP Measu es

I additio to its epo ted ope ati g esults i acco da ce with U.S. ge e ally accepted accou ti g p i ciples (GAAP), EXL has i cluded i this elease ce tai fi a cial measu es that a e co side ed o -GAAP fi a cial measu es, i cludi g the followi g:

(i) Adjusted ope ati g i come a d adjusted ope ati g i come ma gi ;(ii) Adjusted EBITDA a d adjusted EBITDA ma gi ;(iii) Adjusted et i come a d adjusted diluted ea i gs pe sha e; a d(iv) Reve ue g owth o a co sta t cu e cy basis.

These o -GAAP fi a cial measu es a e ot based o a y comp ehe sive set of accou ti g ules o p i ciples, should ot be co side ed a substitute fo , o supe io to, fi a cial measu es calculated i acco da ce with GAAP, a d may be diffe e t f om o -GAAP fi a cial measu es used by othe compa ies. Acco di gly, the fi a cial esults calculated i acco da ce with GAAP a d eco ciliatio s f om those fi a cial stateme ts should be ca efully evaluated. EXL believes that p ovidi g these o -GAAP fi a cial measu es may help i vesto s bette u de sta d EXL’s u de lyi g fi a cial pe fo ma ce. Ma ageme t also believes that these o -GAAP fi a cial measu es, whe ead i co ju ctio with EXL’s epo ted esults, ca p ovide useful suppleme tal i fo matio fo i vesto s a alyzi g pe iod-to-pe iod compa iso s of the Compa y’s esults a d compa iso s of the Compa y’s esults with the esults of othe compa ies. Additio ally, ma ageme t co side s some of these o -GAAP fi a cial measu es to dete mi e va iable compe satio of its employees. The Compa y believes that it is u easo ably difficult to p ovide its ea i gs pe sha e fi a cial guida ce i acco da ce with GAAP, o a qualitative eco ciliatio the eof, fo a umbe of easo s, i cludi g, without limitatio , the Compa y’s i ability to p edict its futu e stock-based compe satio expe se u de ASC Topic 718, the amo tizatio of i ta gibles associated with futu e acquisitio s a d the cu e cy fluctuatio s a d associated tax effects. As such, the Compa y p ese ts guida ce with espect to adjusted diluted ea i gs pe sha e. The Compa y also i cu s sig ifica t o -cash cha ges fo dep eciatio that may ot be i dicative of the Compa y’s ability to ge e ate cash flow.

EXL o -GAAP fi a cial measu es exclude, whe e applicable, stock-based compe satio expe se, amo tizatio of acquisitio – elated i ta gible assets, amo tizatio of p io se vice cost a isi g f om impleme tatio of ew Labo Codes i I dia, ce tai defi ed social secu ity co t ibutio s, othe acquisitio – elated expe ses o be efits a d effect of a y o – ecu i g tax adjustme ts. Acquisitio – elated expe ses o be efits i clude cha ges i the fai value of co ti ge t co side atio , exte al deal costs, i teg atio expe ses, di ect a d i c eme tal t avel costs a d o – ecu i g be efits o losses. Ou adjusted et i come a d adjusted diluted EPS also excludes the effects of i come tax o the above p e-tax items, as applicable. The effects of i come tax of each item is calculated by applyi g the statuto y ate of the local tax egulatio s i the ju isdictio i which the item was i cu ed.

EXL p ovides i fo matio about eve ues o a co sta t cu e cy basis so that the eve ues may be viewed without the impact of fo eig cu e cy excha ge ate fluctuatio s compa ed to p io fiscal pe iods, the eby facilitati g pe iod-to-pe iod compa iso s of the Compa y’s u de lyi g busi ess pe fo ma ce. Reve ue g owth o a co sta t cu e cy basis is calculated by estati g cu e t-pe iod activity usi g the p io fiscal pe iod’s fo eig cu e cy excha ge ates adjusted fo hedgi g gai s/losses i such pe iod. Fo eig cu e cy t a slatio impacted eve ue g owth, p ima ily d ive by moveme ts i the U.S. dolla agai st the I dia upee (INR), the U.K. pou d ste li g (GBP), a d Aust alia dolla (AUD).

A limitatio of usi g o -GAAP fi a cial measu es ve sus fi a cial measu es calculated i acco da ce with GAAP is that o -GAAP fi a cial measu es do ot eflect all of the amou ts associated with ou ope ati g esults as dete mi ed i acco da ce with GAAP a d exclude costs that a e ecu i g, amely stock-based compe satio a d amo tizatio of acquisitio – elated i ta gible assets. EXL compe sates fo these limitatio s by p ovidi g specific i fo matio ega di g the GAAP amou ts excluded f om o -GAAP fi a cial measu es to allow i vesto s to evaluate such o -GAAP fi a cial measu es.

The followi g table shows the eco ciliatio of these o -GAAP fi a cial measu es fo the th ee mo ths e ded Septembe  30, 2026 a d Septembe  30, 2025, a d the th ee mo ths e ded Ju e 30, 2026:

(a) To exclude amo tizatio of p io se vice cost a isi g f om the impleme tatio of the ew Labo Codes i I dia.

(b) Tax impact i cludes $(55) a d $64 du i g the th ee mo ths e ded Septembe  30, 2026 a d 2025 espectively, a d $(17) du i g the th ee mo ths e ded Ju e 30, 2026, elated to disc ete be efits ecog ized i i come tax expe se i acco da ce with ASU No. 2016-09, Compe satio – Stock Compe satio .

Co tacts:I vesto Relatio s A d ew Thut Head of I vesto Relatio s a d Capital Ma kets i @exlse vice.com  

Media Keith Little Head of Public Relatio s media. elatio s@exlse vice.com