Revenue: As of FY2026 Q2, the actual value is USD 594.76 M, beating the estimate of USD 573.95 M.

EPS: As of FY2026 Q2, the actual value is USD 0.42, missing the estimate of USD 0.425.

EBIT: As of FY2026 Q2, the actual value is USD 89.03 M.

ExlService Holdings, Inc. reported its results for the three months ended June 30, 2026.

Segment Revenue (Q2 2026 vs Q2 2025 vs Q1 2026)

• Insurance: $197.8 million, up from $172.2 million and $194.0 million, respectively.
• Healthcare and Life Sciences: $158.0 million, up from $129.5 million and $151.9 million, respectively.
• Banking, Capital Markets and Diversified Industries: $133.9 million, up from $121.1 million and $127.4 million, respectively.
• International Growth Markets: $105.1 million, up from $91.7 million and $97.1 million, respectively.

Gross Profit and Margin (Q2 2026 vs Q2 2025 vs Q1 2026)

• Gross Profit: $225.963 million, compared to $194.188 million and $216.591 million, respectively.
• Total Gross Margin: 38.0%, up from 37.7% in Q2 2025 but down from 38.9% in Q1 2026.
• Insurance Gross Margin: 34.6%, compared to 34.8% and 37.7%, respectively.
• Healthcare and Life Sciences Gross Margin: 46.9%, compared to 43.5% and 45.3%, respectively.
• Banking, Capital Markets and Diversified Industries Gross Margin: 34.8%, compared to 37.8% and 36.9%, respectively.
• International Growth Markets Gross Margin: 35.1%, compared to 35.1% and 34.1%, respectively.

Operating Income and Margin (Q2 2026 vs Q2 2025 vs Q1 2026)

• GAAP Income from Operations: $87.295 million, compared to $81.138 million and $91.826 million, respectively.
• GAAP Operating Income Margin: 14.7%, down from 15.8% and 16.1%, respectively.
• Adjusted Operating Income (Non-GAAP): $117.078 million, compared to $100.807 million and $117.153 million, respectively.
• Adjusted Operating Income Margin (Non-GAAP): 19.7%, up from 19.6% in Q2 2025 but down from 20.5% in Q1 2026.

Net Income (Q2 2026 vs Q2 2025 vs Q1 2026)

• GAAP Net Income: $64.511 million, compared to $66.051 million and $67.081 million, respectively.
• Adjusted Net Income (Non-GAAP): $90.798 million, compared to $79.757 million and $90.668 million, respectively.

Other Operational Metrics (Q2 2026)

• New Clients: ExlService Holdings, Inc. acquired 17 new clients.
• Acquisitions: The company agreed to acquire iMerit, with the closing expected on July 31, 2026.
• Partnerships: ExlService Holdings, Inc. achieved gold status with Databricks, became an OpenAI Services Partner, joined the Claude Partner Network, achieved Snowflake Premier Partner status, and integrated with NVIDIA Transaction Foundation Model.

Balance Sheet Highlights (as of June 30, 2026 vs December 31, 2025)

• Cash and Cash Equivalents: $126.722 million, down from $146.326 million.
• Short-term Investments: $157.102 million, down from $182.041 million.
• Total Current Assets: $875.282 million, up from $829.957 million.
• Total Assets: $1,747.887 million, up from $1,702.235 million.
• Current Portion of Long-term Borrowings: $381.155 million, significantly up from $4.886 million.
• Total Current Liabilities: $703.646 million, up from $324.125 million.
• Long-term Borrowings, less current portion: - $0 million, down from $293.712 million.
• Total Liabilities: $881.645 million, up from $789.530 million.

Outlook / Guidance for Full Year 2026

ExlService Holdings, Inc. increased its organic full-year revenue growth guidance to 13% to 14%, up from the prior guidance of 10% to 12%. The company now anticipates full-year 2026 total revenue to be between $2.390 billion and $2.415 billion, reflecting 14% to 16% year-over-year growth on a reported basis, which includes an estimated $28.0 million to $32.0 million from the iMerit acquisition. Adjusted diluted earnings per share are projected to be $2.25 to $2.29, representing a 16% to 18% increase over 2025.