ExlService Holdings, Inc. (EXLS) Financial Statements
Industry: Business Services (Other) (Services)
In fiscal 2025, ExlService reported revenue of $2.09B, up 13.6% from $1.84B the year before. Net income was $251.0M (a 12.0% net margin), or $1.54 per diluted share. Gross margin was 38.4% and operating margin was 15.0%. Operating activities generated $350.7M of cash, leaving $298.1M of free cash flow. At fiscal year end, ExlService held $1.70B in total assets against $789.5M in total liabilities, including $146.3M of cash and equivalents.
Open the full interactive ExlService financials → Quarterly statements, key ratios, valuation history and price charts.
ExlService Key Stats
| Share Price | $37.20 |
|---|---|
| Market Cap | $5.69B |
| P/E Ratio | 24.2 |
| Revenue YoY Growth | +13.6% |
| 52-Week Range | $25.22 – $43.38 |
| Shares Outstanding | 152.6 million (basic, 2026 Q2) |
ExlService Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $958.4M | $1.12B | $1.41B | $1.63B | $1.84B | $2.09B |
| Gross Profit | $334.5M | $431.4M | $515.4M | $607.8M | $691.0M | $801.1M |
| Operating Income | $110.0M | $155.9M | $192.2M | $238.8M | $263.6M | $313.8M |
| Pre-Tax Income | $115.3M | $146.6M | $190.1M | $237.9M | $261.3M | $315.1M |
| Income Tax | $25.6M | $31.9M | $47.6M | $53.5M | $62.9M | $63.7M |
| Net Income | $89.5M | $114.8M | $143.0M | $184.6M | $198.3M | $251.0M |
| Diluted EPS | $0.52 | $0.67 | $0.85 | $1.10 | $1.21 | $1.54 |
ExlService Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $529.6M | $542.6M | $570.4M | $594.8M |
| Net Income | $58.2M | $60.2M | $67.1M | $64.5M |
| Diluted EPS | $0.36 | $0.37 | $0.43 | $0.42 |
ExlService Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $218.5M | $135.3M | $118.7M | $137.0M | $153.4M | $146.3M |
| Current Assets | $609.3M | $578.1M | $612.8M | $679.7M | $795.2M | $830.0M |
| Total Assets | $1.25B | $1.28B | $1.35B | $1.44B | $1.62B | $1.70B |
| Current Liabilities | $221.1M | $495.7M | $277.9M | $326.4M | $290.1M | $324.1M |
| Total Long-Term Debt | $227.0M | $520.0M | $250.0M | $200.0M | $288.5M | $298.6M |
| Total Liabilities | $528.7M | $589.7M | $587.9M | $552.5M | $688.5M | $789.5M |
| Shareholders' Equity | $719.2M | $693.2M | $758.2M | $889.4M | $929.9M | $912.7M |
ExlService Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $203.0M | $184.4M | $166.1M | $211.2M | $268.5M | $350.7M |
| Cash From Investing | -$18.3M | -$114.3M | -$96.5M | -$12.0M | -$119.1M | -$49.3M |
| Cash From Financing | -$89.6M | -$146.9M | -$81.7M | -$181.4M | -$119.1M | -$312.8M |
| Free Cash Flow | $160.7M | $147.1M | $121.3M | $158.4M | $222.3M | $298.1M |
Figures from ExlService's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full ExlService financials page for every line item.
ExlService Company Profile
| Ticker | EXLS |
|---|---|
| Exchange | Nasdaq |
| Industry | Business Services (Other) (Services) |
| Headquarters | New York, New York |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001297989 |
Frequently Asked Questions
What was ExlService's revenue in fiscal 2025?
ExlService (EXLS) reported revenue of $2.09B for fiscal 2025.
What is ExlService's annual revenue history?
ExlService's annual revenue by fiscal year: 2020: $958.4M; 2021: $1.12B; 2022: $1.41B; 2023: $1.63B; 2024: $1.84B; 2025: $2.09B.
What was ExlService's net income in fiscal 2025?
ExlService reported net income of $251.0M for fiscal 2025.
What was ExlService's earnings per share (EPS) in fiscal 2025?
ExlService's diluted EPS was $1.54 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did ExlService generate in fiscal 2025?
ExlService generated $298.1M of free cash flow in fiscal 2025.
What was ExlService's revenue last quarter?
In its most recent reported quarter (2026 Q2), ExlService reported revenue of $594.8M.
How much debt does ExlService have?
ExlService reported $298.6M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of ExlService are outstanding?
ExlService reported a weighted average of 152.6 million basic shares outstanding in 2026 Q2.
What is ExlService's market cap?
Based on its latest closing price, ExlService (EXLS) has a market capitalization of about $5.69B.
When does ExlService's fiscal year end?
ExlService's fiscal year end, as registered with the SEC, is December 31.
Where is ExlService headquartered?
ExlService lists its business address in New York, New York in its SEC filings.