Page 1

EXL EXL Reports 2021 Second Quarter Results July 29 , 2021 2021 Second Quarter Revenues of $ 275.1 Million , up 23.6 % year - over - year Q2 Diluted Earnings Per Share ( GAAP ) of $ 0.81 , up from $ 0.24 in Q2 of 2020 Q2 Adjusted Diluted Earnings Per Share ( Non - GAAP ) ( 1 ) of $ 1.14 , up from $ 0.53 in Q2 of 2020 NEW YORK , July 29 , 2021 ( GLOBE NEWSWIRE ) ExlService Holdings , Inc. ( NASDAQ : EXLS ) , a leading operations management and analytics company , today announced its financial results for the quarter ended June 30 , 2021 . -- Rohit Kapoor , Vice Chairman and Chief Executive Officer , said , “ EXL generated revenue of $ 275.1 million , an increase of 23.6 % compared to the second quarter of 2020. Analytics continued to lead our growth with a 36.4 % revenue increase from the second quarter of 2020 and operations management revenue increased 16.2 % . Adjusted diluted earnings per share for the quarter was $ 1.14 , a 115 % increase year - over - year . Our significant growth is attributable to the focus on our data - led strategy , wherein we are enabling better business decisions , embedding intelligence directly into operational workflows and increasing speed to action with cloud - based solutions . The market demand for our services remains favorable , positioning us well for continued growth in the second half of 2021. " Maurizio Nicolelli , Chief Financial Officer , said , " Based on our strong first half of the year financial results , and the visibility we have for the remainder of the year , we are increasing our revenue guidance for 2021 to be in the range of $ 1.08 billion to $ 1.10 billion , from $ 1.04 billion to $ 1.07 billion , representing a 12 % to 14 % increase year - over - year on a constant currency basis .. Our adjusted diluted earnings per share guidance for 2021 is also increasing to $ 4.30 to $ 4.50 , from $ 4.00 to $ 4.30 , representing a 22 % to 27 % increase over the prior year . " 1. Reconciliations of adjusted ( non - GAAP ) financial measures to the most directly comparable GAAP measures , where applicable , are included at the end of this release under " Reconciliation of Adjusted Financial Measures to GAAP Measures " . These non - GAAP measures , including adjusted diluted EPS and constant currency measures , are not measures of financial performance prepared in accordance with GAAP . Financial Highlights : Second Quarter 2021 • Revenues for the quarter ended June 30 , 2021 increased to $ 275.1 million compared to $ 222.5 million for the second quarter of 2020 , an increase of 23.6 % on a reported basis and 22.3 % on a constant currency basis from the second quarter of 2020. Revenues increased by 5.2 % sequentially on a reported basis and on a constant currency basis , from the first quarter of 2021 . Reportable Segments Revenues Three months ended June 30 , 2021 June 30 , 2020 March 31 , 2021 June 30 , 2021 Gross Margin Three months ended June 30 , 2020 March 31 , 2021 Insurance Healthcare Emerging Business Analytics Total Revenues , net ( dollars in millions ) $ 94.7 $ 81.3 $ 91.1 37.3 % 27.3 % 38.5 % 28.3 25.0 30.3 37.4 % 21.4 % 42.5 % 40.7 34.5 37.7 45.1 % 35.1 % 44.7 % 111.4 81.7 102.3 36.0 % 29.9 % 37.0 % $ 275.1 $ 222.5 $ 261.4 37.9 % 28.8 % 39.2 % • Operating income margin for the quarter ended June 30 , 2021 was 13.0 % , compared to an operating income margin of 4.4 % for the second quarter of 2020 and operating income margin of 15.9 % for the first quarter of 2021. Adjusted operating income margin for the quarter ended June 30 , 2021 was 17.9 % compared to 9.4 % for the second quarter of 2020 and 20.2 % for the first quarter of 2021 . • Diluted earnings per share for the quarter ended June 30 , 2021 was $ 0.81 compared to $ 0.24 for the second quarter of 2020 and $ 0.93 for the first quarter of 2021. Adjusted diluted earnings per share for the quarter ended June 30 , 2021 was $ 1.14 compared to $ 0.53 for the second quarter of 2020 and $ 1.18 for the first quarter of 2021 . Business Highlights : Second Quarter 2021 • Won 16 new clients in the second quarter of 2021 , with 10 in our operations management businesses and six in Analytics . • Joined the United Nations Global Compact as a Participant , acknowledging our commitment to operate in accordance with universal principles of corporate sustainability in human rights , labor , environment and anti - corruption .