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ExlService Holdings, Inc. (EXL) is a leading data analytics and digital operations and solutions company that partners with clients to improve business outcomes, unlock growth, and drive enterprise-scale business transformation. The company leverages data, analytics, artificial intelligence (AI), machine learning (ML), and cloud technology to create agile, scalable solutions and execute complex operations for some of the world’s leading corporations. EXL operates across various industries, including insurance, healthcare, banking and financial services, media, and retail, offering tailored solutions to meet specific industry needs.
- Analytics - Provides advanced analytics solutions to help clients make better and faster decisions.
- Insurance - Offers solutions tailored to the insurance industry, enhancing operational efficiency and customer experience.
- Emerging Business - Focuses on new and evolving market opportunities, driving innovation and growth.
- Healthcare - Delivers services designed to improve healthcare outcomes and efficiency.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Rohit Kapoor ExecutiveBoard | Chair and CEO | Member, Board of Directors, American India Foundation; Member, Board of Directors, Pratham (Tristate Chapter) | Rohit Kapoor has served as Chair and CEO of EXLS since April 2024. He held previous roles as Vice Chair and CEO (April 2012 to March 2024) and President and CEO (May 2008 to March 2012), and he co-founded EXLS in April 1999. | View Report → |
Ajay Ayyappan Executive | Executive Vice President, General Counsel, and Corporate Secretary | Ajay Ayyappan has served as the Executive Vice President, General Counsel, and Corporate Secretary at EXLS since February 2023 and previously held leadership roles at the company starting in 2007. | ||
Anand “Andy” Logani Executive | Executive Vice President and Chief Digital Officer | Anand “Andy” Logani has been the Executive Vice President and Chief Digital Officer at EXLS since January 2024, previously serving in various leadership roles including Global Head of Life & Annuity Insurance business since 2001. | ||
Anita Mahon Executive | Executive Vice President and Business Head, Healthcare | Anita Mahon has served as the Executive Vice President and Business Head, Healthcare at EXLS since May 2022, and previously held the role of Executive Vice President and Chief Growth Officer from March 2020 to May 2022. | ||
Baljinder Singh Executive | Executive Vice President, Global Chief Information Officer, and Head of Enterprise Digital Transformation | Baljinder Singh has been serving as the Executive Vice President, Global Chief Information Officer, and Head of Enterprise Digital Transformation at EXLS since January 2024. He has been a part of the founding leadership team at EXLS for over 24 years, holding various leadership roles in technology, transformation, digital solutions, platforms development, and information security. | ||
Maurizio Nicolelli Executive | Executive Vice President and Chief Financial Officer | Maurizio Nicolelli has served as the Executive Vice President and Chief Financial Officer at EXLS since February 2020, overseeing all financial operations. Previously, he contributed significantly to financial strategies through leadership roles at Casa Systems and FactSet Research Systems. | ||
Narasimha Kini Executive | Executive Vice President and Business Head, Emerging Business | Narasimha Kini is the Executive Vice President and Business Head, Emerging Business at EXLS since October 2021. He has been with EXLS since 2001, holding various leadership roles in strategic initiatives, finance, and accounting services, and previously served as a Finance Leader at Willis Faber. | ||
Pamela Harrison Executive | Executive Vice President and Chief Human Resources Officer | Pamela Harrison has served as the Executive Vice President and Chief Human Resources Officer at EXLS since June 2023. Previously, she held significant HR roles at Genworth Financial and Latham & Watkins LLP. | ||
Vikas Bhalla Executive | President of EXL and Business Head, Insurance | Vikas Bhalla has been serving as President of EXL and Business Head, Insurance since April 2024, following his role as Executive Vice President and Business Head, Insurance from January 2014 to April 2024. | ||
Vishal Chhibbar Executive | Executive Vice President and Chief Growth and Strategy Officer | Vishal Chhibbar currently serves as Executive Vice President and Chief Growth and Strategy Officer at EXLS since July 2023; he previously held roles as CFO (2009-2019) and Head of Finance and Accounting at EXLS, demonstrating his strategic leadership and financial expertise. | ||
Vivek Jetley Executive | President of EXL and Business Head, Analytics | Vivek Jetley has served as President of EXL and Business Head, Analytics since April 2024, and previously held the role of Executive Vice President and Business Head, Analytics from January 2020. | ||
Andreas Fibig Board | Independent Director | Independent Director at Novo-Nordisk A/S ; Director at Indigo Agriculture ; Director at EvodiaBio ; Chairman at Simtra | Andreas Fibig is a seasoned global executive with over 25 years of experience in biosciences, healthcare, and pharmaceuticals, currently serving as an independent director on the EXLS Board of Directors since January 10, 2023. He has held leadership roles at companies such as IFF, Bayer Healthcare Pharmaceuticals, and Pfizer. | |
Jaynie Studenmund Board | Director | Director at Pacific Premier Bancorp; Director at Western Asset Management Funds; Board Chair Emeritus at Huntington Health; Trustee and Board Member at J. Paul Getty Trust | Jaynie Studenmund has served as an independent Director at EXLS since September 2018, chairing the Compensation and Talent Management Committee and serving on the Audit Committee. She brings extensive experience from previous executive roles such as COO at Overture Services and President & COO at PayMyBills. | |
Kristy Pipes Board | Director | Director and Chair of the Audit Committee at Public Storage (2020–present); Director and Chair of the Audit Committee at AECOM (2022–present); Director and member of the Nominating, Governance, and Sustainability Committee at Savers Value Village (2023–present) | Kristy Pipes has been an independent Director at EXLS since January 2021 and serves as the Chair of the Audit Committee. She brings extensive experience in finance, accounting, and executive leadership from her previous roles at Deloitte Consulting LLP, Transamerica Life Companies, and First Interstate Bank of California. | |
Nitin Sahney Board | Independent Director | Founder, Member-Manager, and CEO of PharmaCord, LLC | Nitin Sahney has served as an independent director at EXLS since January 2016, where he chairs the Nominating and Governance Committee and is a member of the Audit Committee. With over 25 years of experience in healthcare, he has held leadership roles including CEO positions at PharmaCord, LLC. | |
Sarah K. Williamson Board | Independent Director | CEO of FCLTGlobal ; Director at Evercore ; Board Chair at Whitehead Institute for Biomedical Research ; Member of the Board at MITIMCo ; Member of the Board at Women’s Foundation of Boston ; Member, Council on Foreign Relations | Sarah K. Williamson has been serving as an independent director at EXLS since June 20, 2023, leveraging her expertise in global financial services and investment management. Prior to her role at EXLS, she held senior positions such as CEO of FCLTGlobal and served as a director at Evercore, among other leadership roles. | |
Thomas Bartlett Board | Independent Director | Director at Otis Worldwide Corporation; Member of Business Roundtable; Member of Rutgers Business School Board of Advisors; Member of Samaritans Advisory Council | Thomas Bartlett has been serving as an Independent Director at EXLS since March 6, 2024. Previously, he was the CEO of American Tower Corporation from 2020 to 2024. | |
Vikram S. Pandit Board | Lead Director | Chairman and CEO of The Orogen Group LLC (July 2016 - present); Chairman, JM Financial Credit Solutions Ltd. (2014 - present); Director, Westcor Land Title Insurance Company (2020 - present) | Vikram S. Pandit has served at EXLS since October 2018 as a director, held the role of Chair of the Board from 2022 to 2024, and is currently Lead Director since 2024. He has over 30 years of experience in financial services, including his role as Chairman and CEO of The Orogen Group LLC since July 2016. |
- Given the recent shift to a new operating model with reallocated leadership and industry-focused segments, how will you ensure consistent cross-sell and integrated deal execution across the diverse units, and what metrics will you use to track this progress?
- With your analytics business now embedded into each industry vertical, can you detail how you plan to maintain the historical growth and margin expansion of stand-alone analytics services amid this integration?
- In light of your significant investments in AI—including Code Harbor and agentic AI deployments—what specific impact do you expect these initiatives to have on operational efficiency, margins, and overall revenue growth for 2025?
- Your outlook for 2025 mentions a revenue range and EPS guidance while acknowledging FX headwinds; how do you plan to mitigate these challenges to ensure consistent margin improvement and meet your forecasted growth targets?
- Considering client readiness challenges around legacy technology and data integration, what concrete steps are you taking to accelerate the adoption of your AI solutions across both cloud and on-premise environments, and how will you measure their success?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Competes globally in digital operations and solutions, leveraging extensive capabilities in analytics and technology to address client needs. | |
Operates as a major player in digital operations and solutions, offering a broad range of services to clients worldwide. | |
A competitor in digital operations and solutions, known for its focus on process expertise and analytics capabilities. | |
Provides digital operations and solutions with strong technological expertise and global delivery capabilities. | |
Competes in digital operations and solutions, leveraging its global presence and technological expertise. | |
A global competitor in digital operations and solutions, offering a wide range of services across industries. | |
Tata Consultancy Services | Operates as a major competitor in digital operations and solutions, with a strong focus on technology and analytics. |
A competitor in digital operations and solutions, known for its industry-specific expertise and analytics capabilities. | |
Cotiviti | Provides niche industry-specific digital operations and solutions, particularly in healthcare and payment integrity. |
Optum Health | Specializes in niche industry-specific digital operations and solutions, focusing on healthcare services and analytics. |
| Customer | Relationship | Segment | Details |
|---|---|---|---|
The Vanguard Group Inc. | Service contract for analytics | Analytics | Revenue recognized in 2024: $0.64 million (~0.03% of total 2024 revenue ), AR: $0.12 million , and owns ~10% of EXLS’s common stock. |
Corridor Platforms, Inc. | Service contract for analytics | Analytics | Revenue recognized in 2024: $0.42 million (~0.02% of total 2024 revenue ), AR: $0.06 million. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Incandescent Technologies, Inc. (ITI Data) | 2024 | EXLSERVICE HOLDINGS, INC. completed the acquisition of ITI Data on August 1, 2024, via its subsidiary Clairvoyant AI, Inc., acquiring 100% of the equity for a base price of $26 million with additional contingent consideration up to $13 million, thereby strengthening its data management solutions for key industries and integrating the firm into its Analytics segment. |
Inbound Media Group, LLC | 2022 | ExlService.com, LLC, a subsidiary of EXLService Holdings, Inc., acquired Inbound Media Group, LLC on June 10, 2022, for $1,469,000 in cash plus contingent consideration valued at $1,439,000 to enhance its digital direct-to-consumer marketing capabilities, with recognized goodwill of $1,992,000 and intangible assets of $916,000. |
Clairvoyant AI, Inc. | 2021 | ExlService Holdings, Inc. acquired Clairvoyant AI, Inc. in Q4 2021 for $80.1 million in cash, with a potential $20 million earn-out, to bolster its capabilities in data engineering, AI/ML, and cloud services, funded by cash and credit facility borrowing, thereby accelerating its data-driven strategy. |
Recent press releases and 8-K filings for EXLS.
- Q4 2024 Highlights: Reported revenue of $481.4 million (up 16.3% YoY) and adjusted EPS at $0.44 (up ~26% YoY)
- Segment Performance: Achieved strong results with the Analytics segment generating $207.7 million and the Digital Operations & Solutions segment delivering $273.7 million
- 2025 Guidance: Provided outlook with revenue expected between $2.025 billion and $2.06 billion and EPS in the range of $1.83 to $1.89, underpinning growth and margin expansion
- Strategic Shift: Announced a new operating model effective Q1 2025, aligning financial reporting segments to Insurance, Healthcare, Banking & Capital Markets, and International Growth Markets
- Q4 2024 results: Reported net revenue of $481.4 million (up 16.3% YoY) and GAAP diluted EPS of $0.31, with full-year revenue reaching $1.84 billion and GAAP EPS of $1.21.
- 2025 guidance: Forecasted full-year revenue between $2.025B and $2.060B and adjusted diluted EPS between $1.83 and $1.89, reflecting continued growth momentum.