EXLS - ExlService Holdings Inc. (EXLS) Q1 2024 Earnings Call Transcript
2024-05-02 23:05:26 ET
ExlService Holdings, Inc. (EXLS)
Q1 2024 Earnings Conference Call
May 02, 2024, 10:00 AM ET
Company Participants
John Kristoff - VP of IR
Rohit Kapoor - Chairman and CEO
Maurizio Nicolelli - CFO
Conference Call Participants
Bryan Bergin - TD Cowen
Ryan Potter - Citi
Margaret Nolan - William and Blair
Surinder Thind - Jefferies LLC
Puneet Jain - JPMorgan
Moshe Katri - Wedbush
David Koning - Baird
David Grossman - Stifel
Mayank Tandon - Needham
Presentation
Operator
Good day, and thank you for standing by. And welcome to the First Quarter 2024 ExlService Holdings, Inc. Earning Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded. I would like to now hand over the conference to your first speaker today, John Kristoff, VP of Investor Relations. Please go ahead.
John Kristoff
Thanks, Justin. Good morning. Thank you for joining EXL's First Quarter 2024 financial results conference call. On the call with me today are Rohit Kapoor, Chairman and Chief Executive Officer, and Maurizio Nicolelli, Chief Financial Officer. We hope you've had an opportunity to review the first quarter earnings release we issued this morning. We also posted an earnings release slide deck and investor factsheet in the Investor Relations section of our website.
As a reminder, some of the matters we'll discuss this morning are forward-looking. Please keep in mind that these forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, but are not limited to general economic conditions, those factors set forth in today's press release, discussed in the company's periodic reports and other documents filed with the SEC from time to time. EXL assumes no obligation to update the information presented on this conference call today. During our call, we may reference certain non-GAAP financial measures, which we believe provide useful information for our investors. Reconciliation of these measures to GAAP can be found in our press release, slide deck and the investor fact sheet.
With that, I'll turn the call over to Rohit.
Rohit Kapoor
Thanks, John. Good morning, everyone. Welcome to EXL's First Quarter 2024 Earnings Call. I'm pleased to be with you this morning sharing our strong financial results as we've had a solid start to the year. In the first quarter, we generated revenue of $436 million, an increase of 9% year-over-year, and we grew first quarter adjusted EPS by 9% to $0.38 per share. Our data and AI strategy has generated a sustainable competitive advantage for EXL. The sound execution of this strategy has enabled us to continue our growth momentum.
In analytics, we delivered revenue of $191 million for the quarter, up 5% sequentially and year-over-year. I am encouraged by the first quarter performance in our Analytics segment, which has been relatively flat for the past three quarters. This is the result of continued strong double-digit growth in health care payment services and data management. Our banking analytics business stabilized during the quarter, while marketing analytics remains challenged as discussed previously.
In our Digital Operations & Solutions business during the first quarter, we generated revenue of $246 million with growth of 6% sequentially and 12% year-over-year. This was driven by continued strong double-digit growth in our Insurance and emerging business segments....
ExlService Holdings, Inc. (EXLS) Q1 2024 Earnings Call Transcript