# ExlService Holdings, Inc.: overview

EXLS · Nasdaq · CIK 1297989 · [Industrials](/sectors/industrials.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/exls.md) · [Financials](/companies/exls/financials.md) · [Filings](/companies/exls/filings.md) · [Insiders](/companies/exls/insiders.md)

Latest reported revenue: [$634.0m](/filings/0001297989-26-000031.md) for Q3 FY2026, three months to 2026-09-30, from the 10-Q filed Oct 27, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001297989-26-000031).

## Last eight quarters

| Line item | Unit | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [481 d](/filings/0001297989-26-000008.md) | [501](/filings/0001297989-26-000016.md) | [514](/filings/0001297989-26-000023.md) | [530](/filings/0001297989-26-000031.md) | [543 d](/filings/0001297989-26-000008.md) | [570](/filings/0001297989-26-000016.md) | [595](/filings/0001297989-26-000023.md) | [634](/filings/0001297989-26-000031.md) |
| Gross margin | % | [38.1% d](/filings/0001297989-26-000008.md) | [38.6%](/filings/0001297989-26-000016.md) | [37.7%](/filings/0001297989-26-000023.md) | [38.5%](/filings/0001297989-26-000031.md) | [38.6% d](/filings/0001297989-26-000008.md) | [38.9%](/filings/0001297989-26-000016.md) | [38.0%](/filings/0001297989-26-000023.md) | [38.0%](/filings/0001297989-26-000031.md) |
| Operating margin | % | [14.8% d](/filings/0001297989-26-000008.md) | [15.7%](/filings/0001297989-26-000016.md) | [15.8%](/filings/0001297989-26-000023.md) | [14.4%](/filings/0001297989-26-000031.md) | [14.4% d](/filings/0001297989-26-000008.md) | [16.1%](/filings/0001297989-26-000016.md) | [14.7%](/filings/0001297989-26-000023.md) | [14.0%](/filings/0001297989-26-000031.md) |
| Net margin | % | [10.5% d](/filings/0001297989-26-000008.md) | [13.3%](/filings/0001297989-26-000016.md) | [12.8%](/filings/0001297989-26-000023.md) | [11.0%](/filings/0001297989-26-000031.md) | [11.1% d](/filings/0001297989-26-000008.md) | [11.8%](/filings/0001297989-26-000016.md) | [10.8%](/filings/0001297989-26-000023.md) | [10.8%](/filings/0001297989-26-000031.md) |
| Diluted EPS | $ per share | not reported | [0.40](/filings/0001297989-26-000016.md) | [0.40](/filings/0001297989-26-000023.md) | [0.36](/filings/0001297989-26-000031.md) | not reported | [0.43](/filings/0001297989-26-000016.md) | [0.42](/filings/0001297989-26-000023.md) | [0.45](/filings/0001297989-26-000031.md) |
| Free cash flow | $m | [95.3 d](/filings/0001297989-26-000008.md) | [(9.7)](/filings/0001297989-26-000016.md) | [95.0 d](/filings/0001297989-26-000023.md) | [106 d](/filings/0001297989-26-000031.md) | [107 d](/filings/0001297989-26-000008.md) | [(11.2)](/filings/0001297989-26-000016.md) | [73.4 d](/filings/0001297989-26-000023.md) | [103 d](/filings/0001297989-26-000031.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 12-month figure less the 9-month figure; 6-month figure less the 3-month figure; 9-month figure less the 6-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [1,122](/filings/0001297989-24-000003.md) | [1,412](/filings/0001297989-25-000002.md) | [1,631](/filings/0001297989-26-000008.md) | [1,838](/filings/0001297989-26-000008.md) | [2,088](/filings/0001297989-26-000008.md) |
| Gross margin | % | [38.4%](/filings/0001297989-24-000003.md) | [36.5%](/filings/0001297989-25-000002.md) | [37.3%](/filings/0001297989-26-000008.md) | [37.6%](/filings/0001297989-26-000008.md) | [38.4%](/filings/0001297989-26-000008.md) |
| Operating margin | % | [13.9%](/filings/0001297989-24-000003.md) | [13.6%](/filings/0001297989-25-000002.md) | [14.6%](/filings/0001297989-26-000008.md) | [14.3%](/filings/0001297989-26-000008.md) | [15.0%](/filings/0001297989-26-000008.md) |
| Net margin | % | [10.2%](/filings/0001297989-24-000003.md) | [10.1%](/filings/0001297989-25-000002.md) | [11.3%](/filings/0001297989-26-000008.md) | [10.8%](/filings/0001297989-26-000008.md) | [12.0%](/filings/0001297989-26-000008.md) |
| Diluted EPS | $ per share | [0.67](/filings/0001297989-24-000003.md) | [0.85](/filings/0001297989-25-000002.md) | [1.10](/filings/0001297989-26-000008.md) | [1.21](/filings/0001297989-26-000008.md) | [1.54](/filings/0001297989-26-000008.md) |
| Free cash flow | $m | [147](/filings/0001297989-24-000003.md) | [121](/filings/0001297989-25-000002.md) | [158](/filings/0001297989-26-000008.md) | [222](/filings/0001297989-26-000008.md) | [298](/filings/0001297989-26-000008.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/exls/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $488.4m | 18,885,133 |  | Reduced −233,475 |
| [FMR LLC](/funds/315066.md) | 2026-06-30 | $359.1m | 13,885,274 |  | Added +479,560 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $171.9m | 6,645,767 |  | Reduced −92,013 |
| [AQR CAPITAL MANAGEMENT LLC](/funds/1167557.md) | 2026-06-30 | $171.5m | 6,812,609 |  | Reduced −3,063,689 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $167.6m | 6,481,862 |  | Reduced −22,671 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $125.9m | 4,869,434 |  | Added +78,759 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $105.3m | 4,071,771 |  | Reduced −145,993 |
| [TWO SIGMA INVESTMENTS, LP](/funds/1179392.md) | 2026-06-30 | $104.0m | 4,021,556 |  | Added +311,924 |
| [GENEVA CAPITAL MANAGEMENT LLC](/funds/1009232.md) | 2026-06-30 | $88.9m | 3,437,491 |  | Reduced −819,600 |
| [D. E. Shaw & Co., Inc.](/funds/1009207.md) | 2026-06-30 | $84.2m | 3,255,149 |  | Reduced −187,290 |

## Recent filings

[All 1,925 filings](/companies/exls/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-27 | 16:44 ET | [10-Q](/filings/0001297989-26-000031.md) | Quarterly report, period 2026-09-30 | 0001297989-26-000031 |
| 2026-10-27 | 16:02 ET | [8-K](/filings/0001297989-26-000028.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001297989-26-000028 |
| 2026-09-02 | 09:58 ET | [8-K](/filings/0001104659-26-104527.md) | 5.02 Departure or appointment of officers or directors; 9.01 Financial statements and exhibits | 0001104659-26-104527 |
| 2026-08-18 | 16:37 ET | [8-K](/filings/0001104659-26-098380.md) | 1.01 Entry into a material agreement; 1.02 Termination of a material agreement; 2.03 New direct financial obligation; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001104659-26-098380 |
| 2026-07-28 | 16:10 ET | [10-Q](/filings/0001297989-26-000023.md) | Quarterly report, period 2026-06-30 | 0001297989-26-000023 |
| 2026-07-28 | 16:03 ET | [8-K](/filings/0001297989-26-000021.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001297989-26-000021 |
| 2026-07-21 | 16:01 ET | [8-K](/filings/0001104659-26-085393.md) | 5.02 Departure or appointment of officers or directors; 8.01 Other events; 9.01 Financial statements and exhibits | 0001104659-26-085393 |
| 2026-06-24 | 08:03 ET | [8-K](/filings/0001104659-26-077069.md) | 8.01 Other events; 9.01 Financial statements and exhibits | 0001104659-26-077069 |
| 2026-06-16 | 16:01 ET | [8-K](/filings/0001104659-26-074560.md) | 5.07 Shareholder vote results | 0001104659-26-074560 |
| 2026-05-12 | 08:10 ET | [8-K](/filings/0001104659-26-059031.md) | 5.02 Departure or appointment of officers or directors; 8.01 Other events; 9.01 Financial statements and exhibits | 0001104659-26-059031 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001297989-26-000008.md), filed Feb 24, 2026.

## Forecast league

Not in this season’s league. [This season’s league](/leagues.md)

## About the filer

- CIK: 1297989
- Tickers: EXLS
- Exchange: Nasdaq
- SIC code: 7389 Services-Business Services, NEC
- State of incorporation: DE
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 27, 2026, 21:49 ET. No prices; not investment advice.