Exela Technologies Inc

NASDAQ:XELAUnited States

NASDAQ FSI:D. Deficient (Issuer failed to meet continued listing requirements)

Aug 15, 2024

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• -- Earnings Flash (XELA) EXELA TECHNOLOGIES Reports Q2 Revenue $245.7M, from 4:15PM ET on Thursday Aug 15, 2024 by MT Newswires

  4:15PM ET on Thursday Aug 15, 2024 by MT Newswires
  Companies Mentioned: XELA
  04:15 PM EDT, 08/15/2024 (MT Newswires) -- ...

• Exela Technologies, Inc. Reports Second Quarter 2024 Results, from 4:15PM ET on Thursday Aug 15, 2024 by Dow Jones

  4:15PM ET on Thursday Aug 15, 2024 by Dow Jones
  Companies Mentioned: XELA
  extinguishment gain, net -- (16,964) Credit loss expense 14,683 2,865 Deferred income tax provision 757 776 Share-based compensation expense 1,560 314 Unrealized foreign currency (gain) loss (131) 521 Gain on sale of assets (533) (5,831) Fair value adjustment for private warrants liability of XBP Europe (40) -- Change in operating assets and liabilities Accounts receivable 6,379 (7,703) Prepaid expenses and other current assets (6,842) 6,495 Accounts payable and accrued liabilities 13,427 (639) Related party payables 955 (403) Additions to outsource contract costs (573) (298) --------- -------- --- Net cash used in operating activities (16,926) (54,741) --------- -------- --- Cash flows from investing activities Purchase of property, plant and equipment (4,033) (3,357) Additions to internally developed software (1,947) (1,976) Proceeds from sale of assets 2,893 29,811 --------- -------- --- Net cash (used in) provided by investing activities (3,087) 24,478 --------- -------- --- Cash flows from financing activities Proceeds from issuance of Common Stock from at the market offerings -- 69,260 Cash paid for equity issuance costs from at the market offerings -- (2,232) Payment for fractional shares on reverse stock split -- (31) Borrowings under factoring arrangement and Securitization Facility 496 62,858 Principal repayment on borrowings under factoring arrangement and Securitization Facility (511) (63,577) Cash paid for debt issuance costs (237) (6,398) Principal payments on finance lease obligations (3,837) (2,150) Borrowings from senior secured term loans and BRCC revolver -- 9,600 Borrowings from other loans 20,594 4,289 (1) Cash paid for debt repurchases -- (11,858) Proceeds from Second Lien Note -- 31,500 Borrowing under BR Exar AR Facility 30,614 20,000 (1) Repayments under BR Exar AR Facility (25,580) (12,484) (1) Repayment of BRCC term loan -- (44,775) Principal repayments on senior secured term loans, BRCC revolver and other loans (17,763) (15,441) (1) --------- -------- --- Net cash provided by financing activities 3,776 38,561 --------- -------- --- Effect of exchange rates on cash, restricted cash and cash equivalents 344 145 --------- -------- --- Net (decrease) increase in cash, restricted cash and cash equivalents (15,893) 8,443 Cash, restricted cash, and cash equivalents Beginning of period 67,153 45,067 --------- -------- --- End of period $ 51,260 $ 53,510 --------- -------- --- Supplemental cash flow data: Income tax payments, net of refunds received $ 1,978 $ 2,898 Interest paid 38,694 72,608 Noncash investing and financing activities: Assets acquired through right-of-use arrangements $ 7,673 $ 405 Accrued PIK interest paid through issuance of PIK Notes 23,342 -- Waiver and consent fee payable added to outstanding balance of Senior Secured Term Loan 1,000 -- Accrued capital expenditures 288 2,167 (1) Exela restated the condensed consolidated statement of cash flows for the six months ended June 30, 2023 by reclassifying borrowing and repayments under BR Exar AR Facility as separate line items which were previously included in borrowings from other loans and principal repayments on senior secured term loans and other loans, respectively under cash flow from financing activities. Interest on BR Exar AR Facility which was previously included in principal repayments on senior secured term loans and other loans under cash flow from financing activities is restated by reclassification as cash flow from operating activities. Exela Technologies, Inc. and Subsidiaries Schedule 1: Reconciliation of Adjusted EBITDA and constant currency revenues Non-GAAP constant currency revenue reconciliation ------------------------------------------------------ Three months ended June Year ended (YTD) ($ in millions) 30, June 30, -------------- ------------------- 2024 2023 2024 2023 Revenues, as reported (GAAP) $245.7 $272.9 $504.5 $546.6 Foreign currency exchange impact (1) 0.3 0.4 (0.4) 3.6 ------ ------ ------ ------- Revenues, at constant currency (Non-GAAP) $246.0 $273.3 $504.1 $550.2 (1) Constant currency excludes the impact of foreign currency fluctuations and is computed by applying the average exchange rates for the three months and six months ended June 30, 2023, to the revenues during the corresponding period in 2024.
  

• Press Release: Exela Technologies, Inc. Reports Second Quarter 2024 Results, from 4:15PM ET on Thursday Aug 15, 2024 by Dow Jones

  4:15PM ET on Thursday Aug 15, 2024 by Dow Jones
  Companies Mentioned: XELA