Exela Technologies, Inc. (XELA) is a leader in business process automation. The company basically leverages an international mark and exclusive technology to provide online transformation solutions thus improving the productivity, quality, and end-user experience. Company’s services include departmental solution groups which address the accounting, capital and legal management, along with industry-specific solutions for healthcare, banking, and the public section.
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The price of XELA stock during the regular trading on January 12, 2022 was $0.60 with a significant decline of 7.12%. At last check in the premarket on January 13, 2022, the stock rise by 1.99%.
XELA: Events and Happenings
On January 12, 2022, XELA reported about the expansion of previously announced partnership with Mastercard in the EMEA region to back the automation process of Giro payments and processing using the company’s XBP platform.
On January 11, 2022, XELA reported to continue its expanded partnership with an important health insurance company. The customer continued the acceleration of deployment of company’s PHC global program to improve the speed of their online transformation and improve the member and provider’s experience.
On January 10, 2022, XELA reported about its offerings related to Digital Mailroom and DrySign in the Digital Assets Group brought another robust quarter of new consumers in Q4 2021. On January 06, 2022, XELA reported about posting a material titled ‘End of Year Update – FY2021’ on its investor relations webpage.
On January 04, 2022, XELA reported about the award of an agreement (worth $2 million) with a property insurance company. The contract used the company’s Intelligent Document Processing. On December 29, 2021, XELA reported about the expansion of an agreement with a global managed care corporation. On December 23, 2021, XELA reported a three-year renewal with one of a key insurer. Expected value of contract renewal was $3.5 million.
On December 22, 2021, XELA reported about the renewal of 4-year contract with a multinational services provider for Human Capital Management for an expected contract value of $72 million.
XELA: Key Financials
On November 05, 2021, XELA reported its financial results for the third quarter ended September 30, 2021. Some of the key updates are as follows
- Revenue of $279.2 million, a decline of 8.5% from the revenue of Q3 2020 which was $305.3 million.
- Basic and diluted net loss of $13.2 million or $0.09 per share as compared with net loss of $28.3 million or $0.60 per share for Q3 2020.
XELA stock sink 86% from the past six months due to the predominant pandemic environment which is restricting the economic uplift. The current premarket incline is associated with the current announcement of the company regarding the expansion of its Mastercard relationship in Europe. The analysts are optimistic about the company’s stock position and are expecting that it will further improve with the time period.