Exela Technologies, Inc. Reports Second Quarter 2024 Results
2024年8月16日 - 5:15AM
Exela Technologies, Inc. (“Exela” or the “Company”)
(NASDAQ: XELA, XELAP), a global business process automation
(“BPA”) leader, announced today its financial results for the
quarter ended June 30, 2024.
“Our increased operating leverage and continued focus on cost
management and rationalization of our real estate footprint are
reflected in the solid expansion of our gross margin. We continue
to add new logos and remain cautiously optimistic as we head into
the second half of the year,” noted Par Chadha, Executive
Chairman.
- Revenue: Revenue for 2Q 2024 was $245.7
million, a decline of 10.0% compared to $272.9 million in 2Q 2023
(or a decline of 9.3% when excluding the sale of the high-speed
scanner business in June 2023).
- Revenue for the Information and Transaction Processing
Solutions segment was $156.8 million, a decline of 15.2%
year-over-year (or a decline of 14.0% on a pro forma basis when
adjusted for the sale of the high-speed scanner business that
occurred in June 2023).
- Healthcare Solutions generated $62.9 million in revenue, a 1.1%
decline year-over-year.
- Legal & Loss Prevention Services generated $25.9 million in
revenue, a 6.3% increase year-over-year.
- Gross margin of 23.5%, up 1.2% year-over-year
due to lower costs.
- Interest Expense of $23.1M, down 48.7%
year-over-year due to the Company’s debt modification in July
2023.
- SG&A of $41.8M, up 30.5% year-over-year
due to profit on the sale of our high-speed scanner business of
$6.6M recognized in 2Q 2023. Other SG&A expenses were higher by
$9.0 million, due to $10.1 in Q2FY24 write-downs, predominantly
driven by a partner contract amendment, which provides for higher
pricing and service expansion but resulted in a non-cash write down
of the original contract’s straight-line revenue recognition and
related contract assets. The SG&A increase was further offset
by lower legal and professional fees and employee related
costs.
- Operating Loss: Operating loss of $2.4
million, versus an Operating profit of $11.2 million in 2Q 2023,
primarily driven by lower revenue and higher SG&A, partially
offset by higher gross profits.
- Net Loss: Net loss of $26.9 million ($25.7
million attributable to Exela Technologies, Inc.), an improvement
of $4.0 million year-over-year, primarily driven by lower interest
expense following debt modification in July 2023, partially offset
by higher SG&A.
- Adjusted
EBITDA(1):
Adjusted EBITDA was $13.7 million compared to $22.5 million in 2Q
2023, a decline of 39.0% year-over-year, while up 6.7%
sequentially. Adjusted EBITDA margin was 5.6%, a decrease of 260
basis points from 2Q 2023.
Below is the note referenced
above:(1) Adjusted EBITDA is a non-GAAP
measure. A reconciliation of Adjusted EBITDA is attached to this
release.
About ExelaExela Technologies is a business
process outsourcing and automation leader, leveraging a global
footprint and proprietary technology to help turn the complex into
the simple through user friendly software platforms and solutions
that enable our customers’ digital transformation. With decades of
experience operating mission-critical processes, Exela serves a
growing roster of more than 4,000 customers worldwide, including
many of the world’s largest enterprises and over 60% of the
Fortune® 100. Utilizing foundational technologies spanning
information management, workflow automation, and integrated
communications, Exela’s software and services include
multi-industry, departmental solution suites addressing finance and
accounting, human capital management, and legal management, as well
as industry-specific solutions for banking, healthcare, insurance,
and the public sector. Through cloud-enabled platforms, built on a
configurable stack of automation modules, and approximately 13,100
employees operating in 20 countries, Exela rapidly deploys
integrated technology and operations as an end-to-end digital
journey partner.
To automatically receive Exela financial news by email, please
visit the Exela Investor Relations website at
http://investors.exelatech.com/ and subscribe to E-mail
Alerts. About Non-GAAP Financial
Measures
This press release includes constant currency, EBITDA and
Adjusted EBITDA, each of which is a financial measure that is not
prepared in accordance with U.S. generally accepted accounting
principles (“GAAP”). Exela believes that the presentation of these
non-GAAP financial measures will provide useful information to
investors in assessing our financial performance, results of
operations and liquidity and allows investors to better understand
the trends in our business and to better understand and compare our
results. Exela’s board of directors and management use constant
currency, EBITDA and Adjusted EBITDA to assess Exela’s financial
performance, because it allows them to compare Exela’s operating
performance on a consistent basis across periods by removing the
effects of Exela’s capital structure (such as varying levels of
debt and interest expense, as well as transaction costs resulting
from capital markets-based activities). Adjusted EBITDA also seeks
to remove the effects of integration and related costs to
achieve the savings, asset base (such as depreciation and
amortization) and other similar non-routine items outside the
control of our management team. All of these costs are
variable and dependent upon the nature of the actions being
implemented and can vary significantly. Accordingly, due to that
significant variability, we exclude these charges since we do not
believe they truly reflect our past, current or future operating
performance. The constant currency presentation excludes the impact
of fluctuations in foreign currency exchange rates. We calculate
constant currency revenue and Adjusted EBITDA on a constant
currency basis by converting our current-period local currency
financial results using the exchange rates from the corresponding
prior-period and compare these adjusted amounts to our
corresponding prior period reported results. Exela does not
consider these non-GAAP measures in isolation or as an alternative
to liquidity or financial measures determined in accordance with
GAAP. A limitation of these non-GAAP financial measures is that
they exclude significant expenses and income that are required by
GAAP to be recorded in Exela’s financial statements. In addition,
they are subject to inherent limitations as they reflect the
exercise of judgments by management about which expenses and income
are excluded or included in determining these non-GAAP financial
measures and therefore the basis of presentation for these measures
may not be comparable to similarly-titled measures used by other
companies. These non-GAAP financial measures are not required to be
uniformly applied, are not audited and should not be considered in
isolation or as substitutes for results prepared in accordance with
GAAP. Net loss is the GAAP measure most directly comparable to the
non-GAAP measures presented here. For reconciliation of the
comparable GAAP measures to these non-GAAP financial measures, see
the schedules attached to this release.
Forward-Looking Statements Certain statements
included in this press release are not historical facts but are
forward-looking statements for purposes of the safe harbor
provisions under The Private Securities Litigation Reform Act of
1995. Forward-looking statements generally are accompanied by words
such as “may”, “should”, “would”, “plan”, “intend”, “anticipate”,
“believe”, “estimate”, “predict”, “potential”, “seem”, “seek”,
“continue”, “future”, “will”, “expect”, “outlook” or other similar
words, phrases or expressions. These forward-looking statements
include statements regarding our industry, future events, estimated
or anticipated future results and benefits, future opportunities
for Exela, and other statements that are not historical facts.
These statements are based on the current expectations
of Exela management and are not predictions of actual
performance. These statements are subject to a number of risks and
uncertainties, including without limitation the network outage
described in this press release and those discussed under the
heading “Risk Factors” in our Annual Report and in subsequent
filings with the U.S. Securities and Exchange
Commission (“SEC”). In addition, forward-looking statements
provide Exela’s expectations, plans or forecasts of future events
and views as of the date of this
communication. Exela anticipates that subsequent events
and developments will cause Exela’s assessments to change. These
forward-looking statements should not be relied upon as
representing Exela’s assessments as of any date subsequent to the
date of this press release.
For more Exela news, commentary, and industry perspectives,
visit:Website:
https://investors.exelatech.com/X:
@ExelaTechLinkedIn:
exela-technologiesFacebook:
@exelatechnologiesInstagram:
@exelatechnologies
The information posted on the Company’s website and/or via its
social media accounts may be deemed material to investors.
Accordingly, investors, media and others interested in the Company
should monitor the Company’s website and its social media accounts
in addition to the Company’s press releases, SEC filings and public
conference calls and webcasts.
Investor and/or Media Contacts:
ir@exelatech.com
|
|
Exela Technologies, Inc. and
SubsidiariesCondensed Consolidated Balance
SheetsAs of June 30, 2024 and December 31,
2023(in thousands of United States dollars except share
and per share amounts) |
|
|
|
|
|
June 30, |
|
December 31, |
|
|
|
2024 |
|
|
2023 |
|
|
|
|
(Unaudited) |
|
(Audited) |
|
Assets |
|
|
|
|
|
|
|
Current
assets |
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
30,327 |
|
|
$ |
23,341 |
|
|
Restricted cash |
|
|
20,933 |
|
|
|
43,812 |
|
|
Accounts
receivable, net of allowance for credit losses of $6,813 and
$6,628, respectively |
|
|
61,501 |
|
|
|
76,893 |
|
|
Related
party receivables and prepaid expenses |
|
|
449 |
|
|
|
296 |
|
|
Inventories, net |
|
|
13,251 |
|
|
|
11,502 |
|
|
Prepaid
expenses and other current assets |
|
|
30,140 |
|
|
|
25,364 |
|
|
Total current assets |
|
|
156,601 |
|
|
|
181,208 |
|
|
Property, plant and equipment, net of accumulated depreciation of
$216,695 and $213,142, respectively |
|
|
58,448 |
|
|
|
58,366 |
|
|
Operating lease right-of-use assets, net |
|
|
31,421 |
|
|
|
33,874 |
|
|
Goodwill |
|
|
170,354 |
|
|
|
170,452 |
|
|
Intangible assets, net |
|
|
148,364 |
|
|
|
164,920 |
|
|
Deferred
income tax assets |
|
|
2,990 |
|
|
|
3,043 |
|
|
Other
noncurrent assets |
|
|
19,775 |
|
|
|
24,474 |
|
|
Total assets |
|
$ |
587,953 |
|
|
$ |
636,337 |
|
|
|
|
|
|
|
|
|
|
Liabilities and Stockholders' Deficit |
|
|
|
|
|
|
|
Liabilities |
|
|
|
|
|
|
|
Current
liabilities |
|
|
|
|
|
|
|
Current
portion of long-term debt |
|
$ |
53,723 |
|
|
$ |
30,029 |
|
|
Accounts
payable |
|
|
68,628 |
|
|
|
61,109 |
|
|
Related
party payables |
|
|
3,047 |
|
|
|
1,938 |
|
|
Income
tax payable |
|
|
4,211 |
|
|
|
2,080 |
|
|
Accrued
liabilities |
|
|
57,611 |
|
|
|
63,699 |
|
|
Accrued
compensation and benefits |
|
|
71,192 |
|
|
|
65,012 |
|
|
Accrued
interest |
|
|
55,776 |
|
|
|
52,389 |
|
|
Customer
deposits |
|
|
27,898 |
|
|
|
23,838 |
|
|
Deferred
revenue |
|
|
14,018 |
|
|
|
12,099 |
|
|
Obligation for claim payment |
|
|
38,913 |
|
|
|
66,988 |
|
|
Current
portion of finance lease liabilities |
|
|
6,422 |
|
|
|
4,856 |
|
|
Current
portion of operating lease liabilities |
|
|
9,590 |
|
|
|
10,845 |
|
|
Total current liabilities |
|
|
411,029 |
|
|
|
394,882 |
|
|
Long-term debt, net of current maturities |
|
|
1,015,252 |
|
|
|
1,030,580 |
|
|
Finance
lease liabilities, net of current portion |
|
|
8,203 |
|
|
|
5,953 |
|
|
Pension
liabilities, net |
|
|
12,879 |
|
|
|
13,192 |
|
|
Deferred
income tax liabilities |
|
|
12,516 |
|
|
|
11,692 |
|
|
Long-term income tax liabilities |
|
|
6,511 |
|
|
|
6,359 |
|
|
Operating lease liabilities, net of current portion |
|
|
24,676 |
|
|
|
26,703 |
|
|
Other
long-term liabilities |
|
|
5,621 |
|
|
|
5,811 |
|
|
Total liabilities |
|
|
1,496,687 |
|
|
|
1,495,172 |
|
|
Commitments and Contingencies (Note 8) |
|
|
|
|
|
|
|
Stockholders' deficit |
|
|
|
|
|
|
|
Common
Stock, par value of $0.0001 per share; 1,600,000,000 shares
authorized; 6,365,363 shares issued and outstanding at June 30,
2024 and 6,365,355 shares issued and outstanding at December 31,
2023 |
|
|
261 |
|
|
|
261 |
|
|
Preferred stock, $0.0001 par value per share, 20,000,000 shares
authorized at June 30, 2024 and December 31, 2023 |
|
|
|
|
|
|
|
Series A Preferred Stock, 2,778,111 shares issued and outstanding
at June 30, 2024 and December 31, 2023 |
|
|
1 |
|
|
|
1 |
|
|
Series B Preferred Stock, 3,029,900 shares issued and outstanding
at June 30, 2024 and December 31, 2023 |
|
|
— |
|
|
|
— |
|
|
Additional paid in
capital |
|
|
1,237,687 |
|
|
|
1,236,171 |
|
|
Accumulated deficit |
|
|
(2,134,670 |
) |
|
|
(2,084,114 |
) |
|
Accumulated other
comprehensive loss: |
|
|
|
|
|
|
|
Foreign currency translation
adjustment |
|
|
(7,282 |
) |
|
|
(7,648 |
) |
|
Unrealized pension actuarial
gains (losses), net of tax |
|
|
215 |
|
|
|
(174 |
) |
|
Total accumulated other
comprehensive loss |
|
|
(7,067 |
) |
|
|
(7,822 |
) |
|
Total stockholders’
deficit attributable to Exela Technologies, Inc. |
|
|
(903,788 |
) |
|
|
(855,503 |
) |
|
Noncontrolling interest in XBP
Europe |
|
|
(4,946 |
) |
|
|
(3,332 |
) |
|
Total stockholders’ deficit |
|
|
(908,734 |
) |
|
|
(858,835 |
) |
|
Total liabilities and stockholders’ deficit |
|
$ |
587,953 |
|
|
$ |
636,337 |
|
|
|
Exela Technologies, Inc. and
SubsidiariesCondensed Consolidated Statements of
OperationsFor the three and six months ended
June 30, 2024 and 2023(in thousands of United States
dollars except share and per share amounts)(Unaudited) |
|
|
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
Revenue |
|
$ |
245,653 |
|
|
$ |
272,938 |
|
|
$ |
504,464 |
|
|
$ |
546,558 |
|
Cost of
revenue (exclusive of depreciation and amortization) |
|
|
187,964 |
|
|
|
212,059 |
|
|
|
389,952 |
|
|
|
428,526 |
|
Selling,
general and administrative expenses (exclusive of depreciation and
amortization) |
|
|
41,778 |
|
|
|
32,026 |
|
|
|
82,632 |
|
|
|
76,407 |
|
Depreciation and amortization |
|
|
14,983 |
|
|
|
14,890 |
|
|
|
28,490 |
|
|
|
31,450 |
|
Related
party expense |
|
|
3,282 |
|
|
|
2,739 |
|
|
|
5,673 |
|
|
|
5,851 |
|
Operating profit (loss) |
|
|
(2,354 |
) |
|
|
11,224 |
|
|
|
(2,283 |
) |
|
|
4,324 |
|
Other expense (income), net: |
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense, net |
|
|
23,129 |
|
|
|
45,092 |
|
|
|
44,217 |
|
|
|
89,272 |
|
Debt modification and extinguishment costs (gain), net |
|
|
— |
|
|
|
(6,785 |
) |
|
|
— |
|
|
|
(15,558 |
) |
Sundry (income) expense, net |
|
|
(204 |
) |
|
|
1,500 |
|
|
|
1,677 |
|
|
|
2,248 |
|
Other income, net |
|
|
(423 |
) |
|
|
(232 |
) |
|
|
(874 |
) |
|
|
(514 |
) |
Loss before income taxes |
|
|
(24,856 |
) |
|
|
(28,351 |
) |
|
|
(47,303 |
) |
|
|
(71,124 |
) |
Income tax expense |
|
|
(2,049 |
) |
|
|
(2,535 |
) |
|
|
(5,175 |
) |
|
|
(5,198 |
) |
Net loss |
|
|
(26,905 |
) |
|
|
(30,886 |
) |
|
|
(52,478 |
) |
|
|
(76,322 |
) |
Net loss
attributable to noncontrolling interest in XBP Europe, net of
taxes |
|
|
(1,228 |
) |
|
|
— |
|
|
|
(1,922 |
) |
|
|
— |
|
Net loss attributable to Exela Technologies,
Inc. |
|
$ |
(25,677 |
) |
|
$ |
(30,886 |
) |
|
$ |
(50,556 |
) |
|
$ |
(76,322 |
) |
Cumulative dividends for Series A Preferred Stock |
|
|
(1,067 |
) |
|
|
(967 |
) |
|
|
(2,120 |
) |
|
|
(1,921 |
) |
Cumulative dividends for Series B Preferred Stock |
|
|
(1,242 |
) |
|
|
(1,171 |
) |
|
|
(2,466 |
) |
|
|
(2,324 |
) |
Net loss attributable to common stockholders |
|
$ |
(27,986 |
) |
|
$ |
(33,024 |
) |
|
$ |
(55,142 |
) |
|
$ |
(80,567 |
) |
Loss per share: |
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted |
|
$ |
(4.40 |
) |
|
$ |
(5.19 |
) |
|
$ |
(8.66 |
) |
|
$ |
(14.40 |
) |
|
Exela Technologies, Inc. and
SubsidiariesCondensed Consolidated Statements of
Cash FlowsFor the six months ended June 30,
2024 and 2023(in thousands of United States dollars) |
|
|
|
Six Months Ended June 30, |
|
|
2024 |
|
|
2023 |
|
|
Cash flows from
operating activities |
|
|
|
|
|
|
|
Net loss |
|
$ |
(52,478 |
) |
|
$ |
(76,322 |
) |
|
Adjustments to reconcile net
loss to cash used in operating activities |
|
|
|
|
|
|
|
Depreciation and amortization |
|
|
28,490 |
|
|
|
31,450 |
|
|
Original issue discount, debt premium and debt issuance cost
amortization |
|
|
(20,022 |
) |
|
|
16,064 |
|
|
Interest on BR Exar AR Facility |
|
|
(2,558 |
) |
|
|
(5,066 |
) |
(1) |
Debt modification and extinguishment gain, net |
|
|
— |
|
|
|
(16,964 |
) |
|
Credit loss expense |
|
|
14,683 |
|
|
|
2,865 |
|
|
Deferred income tax provision |
|
|
757 |
|
|
|
776 |
|
|
Share-based compensation expense |
|
|
1,560 |
|
|
|
314 |
|
|
Unrealized foreign currency (gain) loss |
|
|
(131 |
) |
|
|
521 |
|
|
Gain on sale of assets |
|
|
(533 |
) |
|
|
(5,831 |
) |
|
Fair value adjustment for private warrants liability of XBP
Europe |
|
|
(40 |
) |
|
|
— |
|
|
Change in operating assets and liabilities |
|
|
|
|
|
|
|
Accounts receivable |
|
|
6,379 |
|
|
|
(7,703 |
) |
|
Prepaid expenses and other current assets |
|
|
(6,842 |
) |
|
|
6,495 |
|
|
Accounts payable and accrued liabilities |
|
|
13,427 |
|
|
|
(639 |
) |
|
Related party payables |
|
|
955 |
|
|
|
(403 |
) |
|
Additions to outsource contract costs |
|
|
(573 |
) |
|
|
(298 |
) |
|
Net cash used in operating activities |
|
|
(16,926 |
) |
|
|
(54,741 |
) |
|
Cash flows from
investing activities |
|
|
|
|
|
|
|
Purchase of property, plant
and equipment |
|
|
(4,033 |
) |
|
|
(3,357 |
) |
|
Additions to internally
developed software |
|
|
(1,947 |
) |
|
|
(1,976 |
) |
|
Proceeds from sale of
assets |
|
|
2,893 |
|
|
|
29,811 |
|
|
Net cash (used in) provided by investing
activities |
|
|
(3,087 |
) |
|
|
24,478 |
|
|
Cash flows from
financing activities |
|
|
|
|
|
|
|
Proceeds from issuance of
Common Stock from at the market offerings |
|
|
— |
|
|
|
69,260 |
|
|
Cash paid for equity issuance
costs from at the market offerings |
|
|
— |
|
|
|
(2,232 |
) |
|
Payment for fractional shares
on reverse stock split |
|
|
— |
|
|
|
(31 |
) |
|
Borrowings under factoring
arrangement and Securitization Facility |
|
|
496 |
|
|
|
62,858 |
|
|
Principal repayment on
borrowings under factoring arrangement and Securitization
Facility |
|
|
(511 |
) |
|
|
(63,577 |
) |
|
Cash paid for debt issuance
costs |
|
|
(237 |
) |
|
|
(6,398 |
) |
|
Principal payments on finance
lease obligations |
|
|
(3,837 |
) |
|
|
(2,150 |
) |
|
Borrowings from senior secured
term loans and BRCC revolver |
|
|
— |
|
|
|
9,600 |
|
|
Borrowings from other
loans |
|
|
20,594 |
|
|
|
4,289 |
|
(1) |
Cash paid for debt
repurchases |
|
|
— |
|
|
|
(11,858 |
) |
|
Proceeds from Second Lien
Note |
|
|
— |
|
|
|
31,500 |
|
|
Borrowing under BR Exar AR
Facility |
|
|
30,614 |
|
|
|
20,000 |
|
(1) |
Repayments under BR Exar AR
Facility |
|
|
(25,580 |
) |
|
|
(12,484 |
) |
(1) |
Repayment of BRCC term
loan |
|
|
— |
|
|
|
(44,775 |
) |
|
Principal repayments on senior
secured term loans, BRCC revolver and other loans |
|
|
(17,763 |
) |
|
|
(15,441 |
) |
(1) |
Net cash provided by financing activities |
|
|
3,776 |
|
|
|
38,561 |
|
|
Effect of exchange rates on
cash, restricted cash and cash equivalents |
|
|
344 |
|
|
|
145 |
|
|
Net (decrease) increase in cash, restricted cash and cash
equivalents |
|
|
(15,893 |
) |
|
|
8,443 |
|
|
Cash, restricted cash, and
cash equivalents |
|
|
|
|
|
|
|
Beginning of period |
|
|
67,153 |
|
|
|
45,067 |
|
|
End of period |
|
$ |
51,260 |
|
|
$ |
53,510 |
|
|
Supplemental cash flow
data: |
|
|
|
|
|
|
|
Income tax payments, net of
refunds received |
|
$ |
1,978 |
|
|
$ |
2,898 |
|
|
Interest paid |
|
|
38,694 |
|
|
|
72,608 |
|
|
Noncash investing and
financing activities: |
|
|
|
|
|
|
|
Assets acquired through
right-of-use arrangements |
|
$ |
7,673 |
|
|
$ |
405 |
|
|
Accrued PIK interest paid
through issuance of PIK Notes |
|
|
23,342 |
|
|
|
— |
|
|
Waiver and consent fee payable
added to outstanding balance of Senior Secured Term Loan |
|
|
1,000 |
|
|
|
— |
|
|
Accrued capital
expenditures |
|
|
288 |
|
|
|
2,167 |
|
|
(1) Exela restated the condensed consolidated
statement of cash flows for the six months ended June 30, 2023 by
reclassifying borrowing and repayments under BR Exar AR Facility as
separate line items which were previously included in borrowings
from other loans and principal repayments on senior secured term
loans and other loans, respectively under cash flow from financing
activities. Interest on BR Exar AR Facility which was previously
included in principal repayments on senior secured term loans and
other loans under cash flow from financing activities is restated
by reclassification as cash flow from operating activities.
|
Exela Technologies, Inc. and
SubsidiariesSchedule 1: Reconciliation of Adjusted
EBITDA and constant currency revenues |
|
Non-GAAP
constant currency revenue reconciliation |
|
($ in millions) |
|
Three months ended June 30, |
|
Year ended (YTD) June 30, |
|
|
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
|
2023 |
Revenues, as reported
(GAAP) |
|
$245.7 |
|
$272.9 |
|
$504.5 |
|
|
$546.6 |
Foreign currency exchange
impact (1) |
|
|
|
0.3 |
|
|
|
0.4 |
|
|
|
(0.4 |
) |
|
|
|
3.6 |
Revenues, at constant
currency (Non-GAAP) |
|
$246.0 |
|
$273.3 |
|
$504.1 |
|
|
$550.2 |
(1) Constant currency excludes the impact of
foreign currency fluctuations and is computed by applying the
average exchange rates for the three months and six months ended
June 30, 2023, to the revenues during the corresponding period in
2024.
Reconciliation of Adjusted EBITDA
($ in
millions) |
|
Three months ended June 30, |
|
Year ended (YTD) June 30, |
|
|
|
2024 |
|
|
|
2023 |
|
|
|
2024 |
|
|
|
2023 |
|
Net loss
(GAAP) |
|
|
($26.9 |
) |
|
|
($30.9 |
) |
|
|
($52.5 |
) |
|
|
($76.3 |
) |
Income tax expense |
|
|
2.0 |
|
|
|
2.5 |
|
|
|
5.2 |
|
|
|
5.2 |
|
Interest expense, net |
|
|
23.1 |
|
|
|
45.1 |
|
|
|
44.2 |
|
|
|
89.3 |
|
Depreciation and
Amortization |
|
|
15.0 |
|
|
|
14.9 |
|
|
|
28.5 |
|
|
|
31.5 |
|
EBITDA
(Non-GAAP) |
|
$13.3 |
|
|
$31.6 |
|
|
$25.4 |
|
|
$49.6 |
|
Transaction and integration
costs |
|
|
0.0 |
|
|
|
2.9 |
|
|
|
0.2 |
|
|
|
8.1 |
|
Non-cash equity
compensation |
|
|
0.4 |
|
|
|
0.2 |
|
|
|
1.6 |
|
|
|
0.3 |
|
Other charges including
non-cash |
|
|
- |
|
|
|
0.3 |
|
|
|
- |
|
|
|
0.2 |
|
Loss/(gain) on sale of
assets |
|
|
0.1 |
|
|
|
0.7 |
|
|
|
(0.5 |
) |
|
|
0.8 |
|
Loss/(gain) on business
disposals |
|
|
- |
|
|
|
(6.5 |
) |
|
|
- |
|
|
|
(6.5 |
) |
Debt modification
and extinguishment costs (gain), net |
|
- |
|
|
|
(6.8 |
) |
|
|
- |
|
|
|
(15.6 |
) |
Adjusted
EBITDA |
|
$13.7 |
|
|
$22.5 |
|
|
$26.6 |
|
|
$37.0 |
|
Source: Exela Technologies, Inc.
Exela Technologies (NASDAQ:XELA)
過去 株価チャート
から 10 2024 まで 11 2024
Exela Technologies (NASDAQ:XELA)
過去 株価チャート
から 11 2023 まで 11 2024