For the quarter ending 2026-03-31, EXLS had -$1,191K decrease in cash & cash equivalents over the period. -$11,214K in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net income | 67,081 | 60,246 | 58,161 | 132,612 |
| Depreciation and amortization expense | 13,995 | 16,371 | 15,188 | 27,689 |
| Stock-based compensation expense | 22,101 | 20,751 | 23,139 | 35,579 |
| Reduction in the carrying amount of operating lease right-of-use assets | 6,904 | 6,246 | 5,904 | 12,489 |
| Fair value mark-to-market on investments | 1,502 | -1,425 | 1,887 | 1,304 |
| Unrealized foreign currency exchange gain, net | 11,411 | 2,970 | 7,664 | 3,314 |
| Payment of contingent consideration | - | 0 | 0 | 0 |
| Deferred income tax benefit | -2,683 | -8,543 | 9,085 | -15,605 |
| Others, net | -496 | -1,907 | -394 | -1,581 |
| Accounts receivable | 47,059 | -9,405 | 7,083 | 38,312 |
| Other current and non-current assets | 17,297 | 520 | -5,082 | 10,434 |
| Income taxes payable, net | 20,261 | -651 | -5,162 | 4,202 |
| Accounts payable, accrued expenses and other liabilities | 18,464 | -3,839 | 6,529 | 8,539 |
| Deferred revenue | 7,607 | -2,143 | -4,410 | 2,426 |
| Accrued employee costs | -69,254 | 25,724 | 30,085 | -31,278 |
| Operating lease liabilities | -5,984 | -6,028 | -6,645 | -12,250 |
| Net cash provided by operating activities | 1,719 | 117,381 | 120,716 | 112,620 |
| Purchases of property and equipment | 12,933 | 10,871 | 14,361 | 27,366 |
| Proceeds from sale of property and equipment | 121 | 36 | 135 | 180 |
| Business acquisition (net of cash acquired) | - | 0 | 0 | - |
| Purchases of investments | 44,942 | 66,222 | 102,354 | 144,935 |
| Proceeds from redemption of investments | 101,779 | 110,406 | 70,832 | 136,434 |
| Investment in equity affiliate | 0 | 0 | 574 | 600 |
| Payment of contingent consideration | - | 0 | 0 | 0 |
| Net cash provided by/(used for) investing activities | 44,025 | 33,349 | -46,322 | -36,287 |
| Principal payments of finance lease liabilities | 153 | 146 | 118 | 247 |
| Proceeds from borrowings | 175,000 | 60,000 | 125,000 | 50,000 |
| Repayments of borrowings | 56,250 | 116,250 | 30,250 | 78,500 |
| Acquisition of treasury stock | 165,988 | 109,582 | 159,235 | 59,673 |
| Proceeds from issuance of common stock | 2,787 | 1,143 | 1,226 | 3,868 |
| Payment of debt issuance costs | - | 0 | 0 | - |
| Net cash (used for)/provided by financing activities | -44,604 | -164,835 | -63,377 | -84,552 |
| Effect of exchange rate changes | -2,331 | 241 | -1,709 | 7,346 |
| Net decrease in cash, cash equivalents and restricted cash | -1,191 | -13,864 | 9,308 | -873 |
| Cash, cash equivalents and restricted cash at the beginning of the period | 165,969 | 179,833 | 171,398 | - |
| Cash, cash equivalents and restricted cash at the end of the period | 164,778 | 165,969 | 179,833 | - |
ExlService Holdings, Inc. (EXLS)
ExlService Holdings, Inc. (EXLS)