Xbp Global Holdings, Inc. · NASDAQ:XBP
Xbp Global — Q1 2026 Earnings Presentation
22 slides from Xbp Global's earnings presentation, May 14, 2026
Slide 1: First Quarter 2026 Financial Results
First Quarter 2026 Financial Results Andrej Jonovic, Chief Executive Officer Dejan Avramovic, Chief Financial Officer Mike Shufeldt, Chief Revenue Officer ©XBP GLOBAL 2026 PROPRIETARY & CONFIDENTIAL 1
Slide 2: Safe Harbor Statements
Safe Harbor Statements About Pro Forma Financial Information This presentation includes certain pro forma financial information, which is presented for informational purposes only and is not prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). Pro forma results are pres
Slide 3: A Global Presence With a Local Focus
A Global Presence With a Local Focus 30+ 2,000+ 60+ Years long journey Global clients across Percent of the Fortune® from automation to industries and 100 served over time hyper-automation public and private sectors ~10K 20 Employees Countries with Physical Presence ©XBP GLOBAL2026 ©XBP GLOBAL 2026
Slide 4: Scaling Agentic AI with Institutional Accountability
Scaling Agentic AI with Institutional Accountability Combining regulatory-grade precision with a unified execution layer to drive margin growth Regulatory Compliance Depth and Data Sovereignty Operationalizing Agentic AI at Scale from Decades of Knowledge Mission-Critical Compliance: The Last Mile of
Slide 5: AI Pipeline Strategy
AI Pipeline Strategy Transforming BPaaS: From Rules-Based Exceptions to Intelligent Automation HOW IT WORKS 1 2 3 4 5 Domain Input Komodo Rules AI Pipeline Auto-Resolved HITL / BPaaS Client workflows, Patented rule engine Tuned LLMs with 40-60% today SMEs refine & resolve SOPs & exceptions → Mermaid c
Slide 6: The AI Pipeline: Legacy Healthcare BPaaS Example
The AI Pipeline: Legacy Healthcare BPaaS Example Legacy Process Legacy process requires multiple teams to manually move claims through different SOPs based on exception type, code, and workflow. In this process, cost was not just labor—it also included management overhead, training time, quality cont
Slide 7: Improving Revenue Momentum and Pipeline Quality
Improving Revenue Momentum and Pipeline Quality Transitioning from Legacy Restructuring to High-Margin, AI-First Growth Bookings & Backlog Visibility Pipeline Velocity & Quality Transforming Legacy BPaaS Strategic Win-Back Success TCV Bookings Growth: Closed $108.1M in Total Pipeline Expansion: We F
Slide 8: Financial & Operating Results
Financial & Operating Results ©XBP ©XBP GLOBAL GLOBAL 20262026 8
Slide 9: 1Q 2026 Highlights
1Q 2026 Highlights1 Revenue Normalized EBITDA2 Total TCV Bookings $197.1M $15.6M $108.1M (14.2%) YoY (39.9%) YoY +68.8% YoY Gross Margin Normalized EBITDA Margin2 New ACV Bookings 22.9% 7.9% $27.3M +70 bps YoY (340 bps) YoY (3.7%) YoY 1. Unless otherwise noted, financial results are presented on a pr
Slide 10: Segment Results
Segment Results Q1 2026 ($ in Millions) Applied Workflow Automation: · Revenue decline of 12.6% YoY and 3.7% QoQ, driven by lower volumes and one-time projects, as well as expected customer exits in the quarter · Gross Margin of 19.9%, a 260 bps increase YoY and 190 bps increase QoQ Technology: · Rev
Slide 11: Quarterly Financial Performance
Quarterly Financial Performance Pro Forma Revenue and Gross Margin Pro Forma Normalized EBITDA1 (Revenue in $ Millions) (in $ Millions) 1. Normalized EBITDA is a Non-GAAP financial metric. Please reference non-GAAP reconciliations for applicable reconciliations to GAAP measures ©XBP GLOBAL 2026 PROPR
Slide 12: Operational Efficiency Through Agentic AI Structural Transformation
Operational Efficiency Through Agentic AI Structural Transformation ~20% $55M-$60M Workforce Reduction Targeted Annualized Operational Efficiencies By End of Calendar Year 2026 AI-Driven Productivity Continued AI adoption is not just an incremental gain; it is a structural shift. We expect to require
Slide 13: Automation Trends led by Expanding AI Enablement
Automation Trends led by Expanding AI Enablement Driving Superior Labor Efficiency Through Automation Headcount Trends Revenue per Employee Set to Lead Peers (in $ thousands) We are estimating a ~20% reduction in global headcount Revenue per employee projected to reach ~$100k by the by the end of 202
Slide 14: Client Metrics - Q1 2026
Client Metrics - Q1 2026 Low concentration of clients across industries and a balanced distribution with top 50 clients accounting for 58% of revenue (in $ Millions) Number of Active Clients1 2,291 Regions Americas Europe Others $165.2M $31.4M $0.5M Top 3 Top 5 Top 10 Top 20 Top 50 17% 24% 33% 43% 5
Slide 15: Pipeline & New Signing Stats
Pipeline & New Signing Stats Increasing overall pipeline coupled with growing number of new logos and average contract length Total Sales Pipeline (TCV) New Business Duration and Number of New Clients (in $ Millions) Gaining visibility into growing momentum of high-value opportunities Please see the
Slide 16: Sales Metrics
Sales Metrics Increasing sales momentum expected to drive future revenue performance TCV Signings New ACV Signings by Industry (in $ Millions) (in $ Millions) Please see the Glossary in the Appendix for definitions of key terms ©XBP GLOBAL 2026 16
Slide 17: Q&A
Q&A ©XBP GLOBAL2026 ©XBP GLOBAL 2026 PROPRIETARY & CONFIDENTIAL 17
Slide 18: Appendix
APPENDIX ©XBP GLOBAL 2026 PROPRIETARY & CONFIDENTIAL 18
Slide 19: Glossary
Glossary - ACV: Annual Contract Value, which annualizes the TCV over the contract duration - Agentic AI: A next-generation enterprise AI platform using modular, cloud-native solutions and human-in-the-loop processes for intelligent automation - BPaaS: Business Process as a Service - BFSI: Banking, F
Slide 20: Reconciliation of Net Income to Pro Forma Normalized EBITDA
Reconciliation of Net Income to Pro Forma Normalized EBITDA (Unaudited) Three Months Ended March 31, 2026 March 31, 2025 Net income (loss) ($26,762) $39,619 XBP Europe Net Loss (4,348) Pro Forma Net Income (Loss) ($26,762) $35,271 Income tax expense (1,435) 2,790 Interest expense (income), net 14,06
Slide 21: Reconciliation of Revenue and Gross Profit to Combined Pro Forma
Reconciliation of Revenue and Gross Profit As Reported to Combined Pro Forma Revenue and Gross Profit Q1 2026 Q1 2025 As Reported Revenue $197,132 191,979 Intercompany Eliminations (1,626) Revenue Adjustment for XBP Europe 39,332 Pro Forma Revenue $197,132 $229,686 As Reported Cost of Revenue $151,897
Slide 22: Footnotes to Non-GAAP Reconciliation
Footnotes to Non-GAAP Reconciliation 1) Represents the annualized run-rate cost savings from optimization and restructuring initiatives implemented during the period. These adjustments reflect the impact as if such cost savings had been realized for the entire period presented. 2) Represents non-cash