Exela Technologies, Inc. (“Exela” or the “Company”) (NASDAQ: XELA),
a location-agnostic global business process automation (“BPA”)
leader across numerous industries, announced today its financial
results for the first quarter ended March 31, 2019.
“We are very pleased with the solid first
quarter results and about the remainder of 2019. On a
constant currency basis, our revenue grew 4% and Adjusted EBITDA
grew 8%, year over year, backed by a growing and profitable
pipeline, and the continued ramp up of our existing customers. Our
Digital NowSM strategy continues to win business by leveraging our
best in class technology and support services. Our goal is to
continue to accelerate the digital transformation of our customers
through expanding engagements across multiple layers and to be a
technology and a business process automation partner,” said Ronald
Cogburn, Chief Executive Officer of Exela.
“As we continue to grow and service our new and
existing customers, we have seen an acceleration in
our initial costs associated with these wins. Therefore, we
have added to our employee base and have seen an increased use of
working capital. We anticipate these trends will reverse in the
back-half of the year. Further, we continue to exit lower margin
contracts where customers do not have a path towards automation. On
a sequential basis, we expect revenue to be flat, but improve
materially in the third and fourth quarter, and, accordingly we are
reaffirming our 2019 outlook.”
“Our customer awareness is rising and our
solutions are well-received. This year, Exela was ranked
number 18 on the 2019 Everest Group BPS Top 50TM list; improving
from number 22 last year and from number 35 the year before,” added
Mr. Cogburn.
First Quarter Ended March 31, 2019
Financial Highlights
- Revenue: Revenue
of $403.8 million, an increase of 2.7% from $393.2 million in the
first quarter of 2018. Revenue for our Information and Transaction
Processing Solutions (“ITPS”) segment was $324.6 million, an
increase of 4.1% year-over-year, driven primarily by growth in top
customers, faster ramp up of contracts utilizing our Digital Now
model, and the impact of growth investments, offset by a decline in
lower automation and project driven business. Healthcare Solutions
(“HS”) revenue was $61.3 million, an increase of 4.6%
year-over-year and consistent with expectations. Legal and Loss
Prevention Services (“LLPS”) revenue was $17.8 million. Results in
LLPS are event driven and were negatively impacted by projects that
generated lower revenue.
- Net Loss: Net Loss
for the first quarter of 2019 was $29.9 million, compared to a net
loss of $24.0 million in the first quarter of 2018. The net loss
was higher primarily due to the negative impact related to an
interest rate derivative.
- Adjusted
EBITDA: Adjusted EBITDA for the first quarter of
2019 was $74.1 million, an increase of 6.5% as compared to Adjusted
EBITDA of $69.6 million in the first quarter of 2018. Adjusted
EBITDA margin for the first quarter of 2019 was 18.3%, an increase
of 60 basis points as compared to an Adjusted EBITDA margin of
17.7% in the first quarter of 2018. The increase in first quarter
2019 Adjusted EBITDA and Adjusted EBITDA margin was primarily
driven by revenue growth and by the continued realization of
savings flow-through, partially offset by investments the Company
made for growth.
- Capital
Expenditures: Capital expenditures for the first quarter
of 2019 were 3.2% of revenue compared to 2.2% of revenue in the
first quarter of 2018.
- Common Stock: As
of March 31, 2019, there were 155,729,299 total shares of common
stock outstanding which includes 5,586,344 shares reserved for
outstanding preferred shares on an as-converted basis.
- Share buyback:
During the first quarter of 2019, the Company did not purchase any
shares of common stock. Cumulative shares repurchased under the
Company’s share buyback program total 2,549,185 since program
inception.
- Launch of Exela Smart OfficeTM –
Internet of Things for the workplace.
- Total employees as of March 31,
2019 rose to 22,976 from 22,047 as of December 31, 2018.
- 83% of first quarter 2019 revenue
in the Americas, 17% in Europe.
Balance Sheet and Liquidity
- At March 31, 2019, Exela’s total liquidity was $57.9(4) million
and total net debt was $1.459 billion.
2019 Guidance as of May 9,
2019
- Revenue range of $1.66 billion to $1.70 billion, growth of
approximately 5% - 7% year over year.
- Adjusted EBITDA range of $305 million to $335 million, growth
of approximately 7% - 18% year over year.
- Capital expenditures range as % of revenue of 2% - 2.5%.
- Capital allocation to be prioritized towards debt
pre-payment.
- Reduction of net leverage ratio by 5% - 7%.
Note: Guidance is based on constant
currency.
Note on Outlook: The Company
has not forecasted net income/(loss) on a forward-looking basis due
to the high variability and difficulty in predicting certain items
that affect GAAP net income/(loss). Adjusted EBITDA should not be
used to predict net income/(loss) as the difference between the two
measures is variable.
Please refer to attached schedules for
reconciliations. Due to rounding, numbers presented throughout this
document may not add up precisely to the totals provided and
percentages may not precisely reflect absolute figures.
(1) – Constant currency is a non-GAAP measure. A
reconciliation of constant currency is attached to this release.(2)
– EBITDA is a non-GAAP measure. A reconciliation of EBITDA is
attached to this release.(3) – Adjusted EBITDA is a non-GAAP
measure. A reconciliation of Adjusted EBITDA is attached to this
release. (4) – Total liquidity of $57.9 million. At March 31, 2019,
total cash and cash equivalents was $8.5 million (including
restricted cash not subject to legal restriction). The Company has
a revolving credit facility of $100 million, of which an aggregate
amount of $49.4 million was available after $21 million reserved
for letters of credit.
Earnings Conference Call and Audio
WebcastExela will host a conference call to discuss its
first quarter 2019 financial results today at 5:00 p.m. ET.
To access this call, dial 833-255-2831 or +412-902-6724
(international). A replay of this conference call will be
available through May 16, 2019 at 877-344-7529 or +412-317-0088
(international). The replay passcode is 10130239. A
live webcast of this conference call will be available on the
“Investors” page of the Company’s website (www.exelatech.com). A
supplemental slide presentation that accompanies this call and
webcast can be found on the investor relations website
(http://investors.exelatech.com/) and will remain available after
the call.
About Exela Exela Technologies,
Inc. (“Exela”) is a location-agnostic global business process
automation ("BPA") leader combining industry-specific and
multi-industry enterprise software and solutions with decades of
experience. Our BPA suite of solutions are deployed in banking,
healthcare, insurance and other industries to support mission
critical environments. Exela is a leader in work flow automation,
attended and un-attended cognitive automation, digital mail rooms,
print communications, and payment processing with deployments
across the globe. Exela partners with customers to improve user
experience and quality through operational efficiency. Exela serves
over 4,000 customers worldwide, through a secure, cloud-enabled
global delivery model. We are 22,000 employees strong across the
Americas, Europe and Asia. Our customer list includes 60% of the
Fortune® 100, along with many of the world’s largest retail chains,
banks, law firms, healthcare insurance payers and providers and
telecom companies. Find out more at www.exelatech.com
Follow Exela on
Twitter: https://twitter.com/exelatechFollow
Exela on
LinkedIn: https://www.linkedin.com/company/11174620/
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 the combination of Quinpario
Acquisition Corp. 2, SourceHOV Holdings, Inc. and Novitex Holdings,
Inc. on July 12, 2017 (the “Business Combination”) and capital
markets-based activities). Adjusted EBITDA also seeks to remove the
effects of integration and related costs to achieve the
savings, any expected reduction in operating expenses due to the
Business Combination, asset base (such as depreciation and
amortization) and other similar non-routine items outside the
control of our management team. 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. Optimization and
restructuring expenses and merger adjustments are primarily related
to the implementation of strategic actions and initiatives related
to the Business Combination. All of these costs are variable and
dependent upon the nature of the actions being implemented and can
vary significantly driven by business needs. 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.
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, the estimated or anticipated future
results and benefits of the Business Combination, future
opportunities for the combined company, 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 those discussed under
the heading “Risk Factors” in Exela’s most recently filed Annual
Report on Form-10-K filed with the Securities and Exchange
Commission. 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.
|
Exela Technologies, Inc. and Subsidiaries |
Consolidated Balance
Sheets |
As of March 31, 2019 and December 31, 2018 |
(in thousands of United States dollars except share and per share
amounts) |
(Unaudited) |
|
|
|
|
|
|
|
|
|
March 31, |
|
December 31, |
|
|
2019 |
|
2018 |
Assets |
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
8,262 |
|
|
$ |
25,615 |
|
Restricted cash |
|
|
4,998 |
|
|
|
18,239 |
|
Accounts receivable, net of
allowance for doubtful accounts of $5,913 and $4,359
respectively |
|
|
278,064 |
|
|
|
270,812 |
|
Inventories, net |
|
|
16,321 |
|
|
|
16,220 |
|
Prepaid expenses and other
current assets |
|
|
25,330 |
|
|
|
25,015 |
|
Total current
assets |
|
|
332,975 |
|
|
|
355,901 |
|
Property, plant and equipment,
net of accumulated depreciation of $163,199 and $154,060
respectively |
|
|
129,621 |
|
|
|
132,986 |
|
Operating lease right-of-use
asset, net |
|
|
100,727 |
|
|
|
- |
|
Goodwill |
|
|
708,285 |
|
|
|
708,258 |
|
Intangible assets, net |
|
|
397,412 |
|
|
|
407,021 |
|
Deferred income tax
assets |
|
|
16,202 |
|
|
|
16,225 |
|
Other noncurrent assets |
|
|
17,667 |
|
|
|
19,391 |
|
Total
assets |
|
$ |
1,702,889 |
|
|
$ |
1,639,782 |
|
Liabilities and
Stockholders' Equity (Deficit) |
|
|
|
|
|
|
Liabilities |
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
Accounts payable |
|
$ |
90,924 |
|
|
$ |
99,853 |
|
Related party payables |
|
|
6,184 |
|
|
|
7,735 |
|
Income tax payable |
|
|
4,898 |
|
|
|
1,996 |
|
Accrued liabilities |
|
|
63,138 |
|
|
|
66,008 |
|
Accrued compensation and
benefits |
|
|
57,961 |
|
|
|
54,583 |
|
Accrued interest |
|
|
23,928 |
|
|
|
49,071 |
|
Customer deposits |
|
|
28,410 |
|
|
|
34,235 |
|
Deferred revenue |
|
|
19,966 |
|
|
|
16,504 |
|
Obligation for claim
payment |
|
|
46,063 |
|
|
|
56,002 |
|
Current portion of finance
lease obligations |
|
|
15,961 |
|
|
|
17,498 |
|
Current portion of operating
lease obligations |
|
|
27,368 |
|
|
|
- |
|
Current portion of long-term
debt |
|
|
32,821 |
|
|
|
29,237 |
|
Total current
liabilities |
|
|
417,622 |
|
|
|
432,722 |
|
Long-term debt, net of current
maturities |
|
|
1,336,152 |
|
|
|
1,306,423 |
|
Finance lease obligations, net
of current portion |
|
|
27,231 |
|
|
|
26,738 |
|
Pension liability |
|
|
25,514 |
|
|
|
25,269 |
|
Deferred income tax
liabilities |
|
|
12,439 |
|
|
|
11,212 |
|
Long-term income tax
liability |
|
|
3,158 |
|
|
|
3,024 |
|
Operating lease right-of-use
liability, net of current portion |
|
|
78,290 |
|
|
|
- |
|
Other long-term
liabilities |
|
|
6,747 |
|
|
|
15,400 |
|
Total
liabilities |
|
|
1,907,153 |
|
|
|
1,820,788 |
|
Commitment and Contingencies
(Note 9) |
|
|
|
|
|
|
Stockholders' equity
(deficit) |
|
|
|
|
|
|
Common stock, par value of
$0.0001 per share; 1,600,000,000 shares authorized; 152,692,140
shares issued and 150,142,955 outstanding at March 31, 2019 and
December 31, 2018 |
|
|
15 |
|
|
|
15 |
|
Preferred stock, par value of
$0.0001 per share; 20,000,000 shares authorized; 4,569,233 shares
issued and outstanding at December 31, 2018 and 6,194,233 shares
issued or outstanding at December 31, 2017 |
|
|
1 |
|
|
|
1 |
|
Additional paid in
capital |
|
|
482,018 |
|
|
|
482,018 |
|
Preferred stock, par value of
$0.0001 per share; 20,000,000 shares authorized; 4,569,233 shares
issued and outstanding at March 31, 2019 and December 31, 2018 |
|
|
(10,342 |
) |
|
|
(10,342 |
) |
Equity-based compensation |
|
|
44,529 |
|
|
|
41,731 |
|
Accumulated deficit |
|
|
(707,787 |
) |
|
|
(678,563 |
) |
Accumulated other
comprehensive loss: |
|
|
|
|
|
|
Foreign currency translation
adjustment |
|
|
(3,173 |
) |
|
|
(6,565 |
) |
Unrealized pension actuarial
losses, net of tax |
|
|
(9,525 |
) |
|
|
(9,301 |
) |
Total accumulated other
comprehensive loss |
|
|
(12,698 |
) |
|
|
(15,866 |
) |
Total stockholders’
deficit |
|
|
(204,264 |
) |
|
|
(181,006 |
) |
Total liabilities and
stockholders’ deficit |
|
$ |
1,702,889 |
|
|
$ |
1,639,782 |
|
|
|
|
|
|
|
|
|
Exela Technologies, Inc. and Subsidiaries |
Consolidated Statement of
Operations |
For the Three Months Ended March 31, 2019 and
2018 |
(in thousands of United States dollars except share and per
share amounts) |
(Unaudited) |
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
|
2019 |
|
2018 |
Revenue |
|
$ |
403,765 |
|
|
$ |
393,167 |
|
Cost of revenue (exclusive of
depreciation and amortization) |
|
|
306,882 |
|
|
|
293,792 |
|
Selling, general and
administrative expenses |
|
|
49,949 |
|
|
|
45,595 |
|
Depreciation and
amortization |
|
|
28,020 |
|
|
|
38,019 |
|
Related party expense |
|
|
994 |
|
|
|
1,105 |
|
Operating
income |
|
|
17,920 |
|
|
|
14,656 |
|
Other expense
(income), net: |
|
|
|
|
|
|
Interest expense, net |
|
|
38,899 |
|
|
|
38,017 |
|
Sundry expense (income), net |
|
|
2,531 |
|
|
|
(64 |
) |
Other income, net |
|
|
1,677 |
|
|
|
(3,328 |
) |
Net loss before income
taxes |
|
|
(25,187 |
) |
|
|
(19,969 |
) |
Income tax (expense) benefit |
|
|
(4,720 |
) |
|
|
(4,025 |
) |
Net loss |
|
$ |
(29,907 |
) |
|
$ |
(23,994 |
) |
Cumulative dividends for Series A Preferred Stock |
|
|
(914 |
) |
|
|
(914 |
) |
Net loss attributable
to common stockholders |
|
$ |
(30,821 |
) |
|
$ |
(24,908 |
) |
Loss per
share: |
|
|
|
|
|
|
Basic and diluted |
|
$ |
(0.21 |
) |
|
$ |
(0.16 |
) |
|
|
|
|
|
|
Exela Technologies, Inc. and Subsidiaries |
Consolidated Statements of Cash Flows |
For the Three Months Ended March 31, 2019 and
2018 |
(in thousands of United States dollars unless otherwise
stated) |
(Unaudited) |
|
|
|
|
|
|
|
|
|
Three Months Ended March
31, |
|
|
2019 |
|
2018 |
Cash flows from
operating activities |
|
|
|
|
|
|
Net loss |
|
$ |
(29,907 |
) |
|
$ |
(23,994 |
) |
Adjustments to reconcile net
loss |
|
|
|
|
|
|
Depreciation and
amortization |
|
|
28,020 |
|
|
|
38,019 |
|
Original issue discount and
debt issuance cost amortization |
|
|
2,852 |
|
|
|
2,595 |
|
Provision for doubtful
accounts |
|
|
800 |
|
|
|
481 |
|
Deferred income tax
provision |
|
|
1,076 |
|
|
|
835 |
|
Share-based compensation
expense |
|
|
2,798 |
|
|
|
959 |
|
Foreign currency
remeasurement |
|
|
35 |
|
|
|
(323 |
) |
Loss on sale of assets |
|
|
9 |
|
|
|
253 |
|
Fair value adjustment for
interest rate swap |
|
|
1,677 |
|
|
|
(3,328 |
) |
Change in operating assets and
liabilities, net of effect from acquisitions |
|
|
|
|
|
|
Accounts receivable |
|
|
(8,742 |
) |
|
|
(10,876 |
) |
Prepaid expenses and other assets |
|
|
(632 |
) |
|
|
(5,567 |
) |
Accounts payable and accrued liabilities |
|
|
(33,574 |
) |
|
|
(18,864 |
) |
Related party payables |
|
|
(1,551 |
) |
|
|
(273 |
) |
Net cash used in operating activities |
|
|
(37,139 |
) |
|
|
(20,083 |
) |
|
|
|
|
|
|
|
Cash flows from
investing activities |
|
|
|
|
|
|
Purchase of property, plant
and equipment |
|
|
(5,572 |
) |
|
|
(5,957 |
) |
Additions to internally
developed software |
|
|
(1,879 |
) |
|
|
(1,092 |
) |
Additions to outsourcing
contract costs |
|
|
(5,561 |
) |
|
|
(1,596 |
) |
Proceeds from sale of
assets |
|
|
7 |
|
|
|
2 |
|
Net cash used in investing activities |
|
|
(13,005 |
) |
|
|
(8,643 |
) |
|
|
|
|
|
|
|
Cash flows from
financing activities |
|
|
|
|
|
|
Repurchases of common
stock |
|
|
(2,872 |
) |
|
|
- |
|
Proceeds from financing
obligation |
|
|
566 |
|
|
|
1,863 |
|
Cash paid for equity issue
costs |
|
|
- |
|
|
|
(7,500 |
) |
Net borrowings under factoring
agreement |
|
|
1,118 |
|
|
|
|
Borrowings from revolver and
swing-line loan |
|
|
51,000 |
|
|
|
25,000 |
|
Repayments from revolver and
swing line loan |
|
|
(21,000 |
) |
|
|
(25,000 |
) |
Principal payments on finance
lease obligations |
|
|
(5,077 |
) |
|
|
(4,803 |
) |
Principal payments on
long-term obligations |
|
|
(4,153 |
) |
|
|
(2,947 |
) |
Net cash provided by (used in) financing
activities |
|
|
19,582 |
|
|
|
(13,387 |
) |
Effect of exchange rates on
cash |
|
|
(32 |
) |
|
|
55 |
|
Net increase (decrease) in cash and cash
equivalents |
|
|
(30,594 |
) |
|
|
(42,058 |
) |
Cash, restricted cash, and
cash equivalents |
|
|
|
|
|
|
Beginning of period |
|
|
43,854 |
|
|
|
81,489 |
|
End of period |
|
$ |
13,260 |
|
|
$ |
39,431 |
|
|
|
|
|
|
|
|
Supplemental cash flow
data: |
|
|
|
|
|
|
Income tax payments, net of
refunds received |
|
$ |
1,356 |
|
|
$ |
1,053 |
|
Interest paid |
|
|
60,573 |
|
|
|
66,192 |
|
Noncash investing and
financing activities: |
|
|
|
|
|
|
Assets acquired through
right-of-use arrangements |
|
|
4,097 |
|
|
|
4,432 |
|
Accrued capital
expenditures |
|
|
809 |
|
|
|
1,101 |
|
|
|
|
|
|
|
Exela TechnologiesSchedule 1:
Reconciliation of Adjusted EBITDA and constant currency revenues
(Unaudited) |
|
|
|
|
|
Reconciliation of Non-GAAP Financial Measures to GAAP
Measures |
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP constant
currency revenue reconciliation |
|
|
|
|
|
|
Three months ended |
($ in millions) |
|
31-Mar-19 |
|
31-Mar-18 |
Revenues, as reported
(GAAP) |
|
$403.8 |
|
|
$393.2 |
|
Foreign currency exchange
impact (1) |
|
|
6.0 |
|
|
|
Revenues, at constant
currency (Non-GAAP) |
|
$409.8 |
|
|
$393.2 |
|
|
|
|
|
|
(1) Constant currency excludes the impact of foreign currency
fluctuations and is computed by applying the average exchange rates
for the three months ended March 31, 2018, to the revenues during
the corresponding period in 2019. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation of
Adjusted EBITDA |
|
|
|
|
|
|
Three months ended |
($ in millions) |
|
31-Mar-19 |
|
31-Mar-18 |
Net loss
(GAAP) |
|
($29.9 |
) |
|
($24.0 |
) |
Interest expense |
|
|
38.9 |
|
|
|
38.0 |
|
Taxes |
|
|
4.7 |
|
|
|
4.0 |
|
Depreciation and
amortization |
|
|
28.0 |
|
|
|
38.0 |
|
EBITDA
(Non-GAAP) |
|
$41.7 |
|
|
$56.1 |
|
Transaction and integration
costs |
|
|
1.0 |
|
|
|
1.1 |
|
Optimization and restructuring
expenses |
|
|
25.8 |
|
|
|
14.5 |
|
Gain / loss on derivative
instruments |
|
|
1.7 |
|
|
|
(3.3 |
) |
Other Charges |
|
|
3.9 |
|
|
|
1.3 |
|
Adjusted EBITDA
(Non-GAAP) |
|
$74.1 |
|
|
$69.6 |
|
Foreign currency exchange
impact (1) |
|
|
0.8 |
|
|
|
Adjusted EBITDA, at
constant currency (Non-GAAP) |
|
$74.9 |
|
|
$69.6 |
|
|
|
|
|
|
(1) Constant currency excludes the impact of foreign currency
fluctuations and is computed by applying the average exchange rates
for the three months ended March 31, 2018, to the adjusted EBITDA
during the corresponding period in 2019. |
|
|
|
|
|
Contact: Jim MathiasE: ir@exelatech.comW:
investors.exelatech.comT: +1 972-821-5808
Exela Technologies (NASDAQ:XELA)
Historical Stock Chart
From Apr 2024 to May 2024
Exela Technologies (NASDAQ:XELA)
Historical Stock Chart
From May 2023 to May 2024