XBP Global Holdings (XBP) Company Report

XBP Global announced a strategic, multi-year partnership with a leading U.S. based property and casualty (P&C) insurance provider.
The engagement is valued at approximately $24 million over five years.
XBP Global will deploy its advanced AI-driven and RPA-infused automation platform, including Mobile Payment solutions and Intelligent Document Processing (IDP) technology, to modernize the insurer's payment ecosystem.
This collaboration aims to digitize and streamline end-to-end payment operations, enhance efficiency, strengthen compliance, and improve the customer experience.

Dec 29, 2025, 2:22 PM

XBP Global Holdings Discusses Post-Acquisition Strategy and Financial Outlook

XBP

M&A

Revenue Acceleration/Inflection

Delisting/Listing Issues

XBP Global Holdings completed a transformational acquisition of Exela Technologies BPA, expanding its global footprint and bringing pro forma annual revenue to approximately $900 million.
The acquisition equitized over $1 billion of debt, resulting in a restructured balance sheet with pro forma trailing 12-month adjusted EBITDA of approximately $103 million and a net debt to adjusted EBITDA of 3.37x.
The company plans to refinance its current debt, which has interest rates in the low to mid-teens, expecting potential tens of millions of dollars a year in interest savings.
XBP Global is focused on AI-led deployments to drive gross margin expansion, with Q3 Adjusted EBITDA reported at nearly $25 million, an increase of 22% sequentially. Revenues are stabilizing, with the company expecting troughing revenues and future growth from new contracts.
A one-for-ten reverse stock split is effective December 12, 2025, to cure Nasdaq non-compliance and attract institutional investors.

Dec 11, 2025, 5:15 PM

XBP Global Holdings Discusses Post-Acquisition Strategy and Financial Outlook

XBP

M&A

Delisting/Listing Issues

New Projects/Investments

XBP Global Holdings recently completed a transformational acquisition of Exela Technologies BPA, expanding its global footprint and bringing pro forma annual revenue to approximately $900 million. This transaction significantly restructured the balance sheet by equitizing over $1 billion of debt.
On a trailing 12-month pro forma basis, the company reported approximately $916 million in revenue and $103 million in Adjusted EBITDA. Management noted that revenues are stabilizing and troughing, with Q3 Adjusted EBITDA increasing 7.4% year over year and 22% sequentially to nearly $25 million.
The company announced a one-for-ten reverse stock split effective December 12, 2025, to address Nasdaq non-compliance. XBP Global also plans to refinance its debt, which currently incurs approximately $55 million annually in interest expense, anticipating tens of millions in annual savings.
XBP Global is investing approximately $10 million in R&D for AI-led deployments, including Agentic AI, to drive margin expansion. Recent contract wins, such as a five-year agreement with BG Phoenix valued up to EUR 21.5 million, are expected to contribute to future revenue growth.
The company's current valuation of approximately 4 times enterprise value to adjusted EBITDA is significantly below peers, which trade between 8 and 16 times, presenting a potential deep value opportunity for investors.

Dec 11, 2025, 5:15 PM

XBP Global Holdings Details Post-Acquisition Financials and Strategic Initiatives

XBP

M&A

Revenue Acceleration/Inflection

Delisting/Listing Issues

XBP Global Holdings completed a transformational acquisition of Exela Technologies BPA, resulting in a pro forma annual revenue of approximately $916 million and adjusted EBITDA of $103 million, while equitizing over $1 billion of debt.
The company's net debt to adjusted EBITDA stands at 3.37x, with no material debt maturities until 2028, and plans to refinance existing debt to potentially save tens of millions of dollars annually in interest expense.
XBP Global reported $25 million in Adjusted EBITDA for Q3, marking a 7.4% year-over-year and 22% sequential increase, driven by improved gross margins.
A one-for-ten reverse stock split is effective December 12, 2025, aimed at curing Nasdaq non-compliance and attracting institutional investors.
Recent multi-year contract wins, including a five-year agreement with BG-Phoenics valued at up to EUR 21.5 million, are expected to stabilize revenue declines and drive future growth.

Dec 11, 2025, 5:15 PM

XBP Global Secures Multi-Million Euro Agreement with BG-Phoenics GmbH

XBP

New Projects/Investments

Revenue Acceleration/Inflection

XBP Global Holdings (NASDAQ: XBP) announced a new five-year agreement with BG-Phoenics GmbH, a leading IT service provider in Germany’s statutory accident insurance sector.
The agreement has an estimated value of up to 21.5 million Euro.
XBP Global will serve as a full-service provider for incoming mail processing, supporting the client's transformation to AI-driven digital document management.
Over the contract duration, XBP Global will process and digitize up to 148 million pages using its AI-powered Intelligent Document Processing (IDP) Software platform and advanced scanning technologies.
This engagement strengthens XBP Global’s presence in regulated industries and key European markets, expanding its footprint within the German public sector.

Dec 11, 2025, 1:08 PM

XBP Global Holdings, Inc. Reports Q3 2025 Results and Details Acquisition

XBP

Earnings

M&A

Demand Weakening

XBP Europe Holdings, Inc. finalized the acquisition of Exela Technologies BPA, LLC and changed its name to XBP Global Holdings, Inc. on July 29, 2025.
For Q3 2025, reported revenue was $209.1 million, a 10.4% year-over-year decline, and combined Pro Forma Revenue was $220.4 million, down 18.1% year-over-year.
The company's reported gross margin for Q3 2025 was 22.0%, an increase of 310 basis points year-over-year, while Pro Forma Gross Margin was 21.9%, up 190 basis points year-over-year.
Pro Forma Adjusted EBITDA for Q3 2025 increased by 7.4% year-over-year to $24.7 million.
XBP Global Holdings, Inc. reported a net loss of $305,838 thousand for the period from August 1, 2025 to September 30, 2025, resulting in a net loss per common share of ($2.60).

Nov 14, 2025, 9:37 PM

XBP Global Holdings Reports Q3 2025 Consolidated Results Post-Acquisition

XBP

Earnings

M&A

Guidance Update

XBP Global Holdings reported its first consolidated Q3 2025 results following the transformative acquisition of Exela Technologies BPA, with pro forma revenue of $220.4 million and pro forma adjusted EBITDA of $24.6 million.
For Q3 2025, pro forma revenue decreased 18.1% year-over-year, while pro forma adjusted EBITDA increased 7.1% year-over-year, with gross margin expanding to 21.9% and adjusted EBITDA margin to 11.2%.
The company serves over 2,500 clients globally, with no single client exceeding 7.5% of revenue, and the top 10 clients contributing 34% to the top line on a trailing 12-month basis.
XBP Global is not providing financial guidance for this quarter due to the recent acquisition but anticipates offering guidance in the future.