Exela Technologies, Inc. (XELA) Q3 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and welcome to the Accela third quarter 2024 financial results. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on a touch-tone phone. To withdraw your question, please press star and then two. Please note this event is being recorded. I would now like to turn the conference over to David Shamus, President of Investor Relations. Please go ahead. We seem to be having technical difficulties. Please stand by. We have rejoined the presenters. Please proceed. Thank you, operator, and good afternoon. Welcome to our earnings call to discuss our third quarter results for the period ended September 30th, 2024. Our presentation has been posted to the IR section of our website. On today's call will be Matt Brown, our interim chief financial officer. Some of the matters we will discuss on today's call are forward-looking and involve a number of risks. uncertainties, and other factors that could cause actual results to differ materially from those in such forward-looking statements. Such risks and uncertainties are set forth in our presentation. So with that, I'll turn it over the call to Matt. Thanks, David. Good afternoon, everyone. Let's start on slide eight, financial highlights. We reported third quarter revenues of $269.2 million, up 6.3% year over year. Information and transaction processing solutions increased by 11.5% year-over-year, while healthcare solutions and legal and loss prevention services declined by 5.3% and 2.4% year-over-year, respectively. Sequentially, Q3 was up 22.4% in ITPS, primarily driven by a large project from an ex...