Exela Technologies, Inc. (XELA) is a leading business process Automator. It leverages proprietary technology to provide online transformation solutions to enhance productivity and quality. The company’s platform includes solutions to address accounting, capital, and legal management issues.
The price of XELA stock during the regular trading of March 10, 2022, was $0.85 with a surge of 10.5%. At the last check of the premarket session of March 11, 2022, its stock plummeted by 10%.
XELA: Key Financials
On March 11, 2022, XELA released its financial outcomes for the fourth quarter of 2021 ended December 31, 2021. Some of the key highlights are as follows
Revenue
Revenue in Q4 2021 was $294.3 million in comparison to $314.1 million in the same quarter of 2020, so the company observed a decline of 6.3% YoY in its revenue. The company missed the revenue target of $296 million.
EPS
Net loss in Q4 2021 was $70.6 million compared to $88.9 million in the comparable quarter of 2020.
XELA: Events and Happenings
On March 11, 2022, XELA reported the positive closure of its offering to exchange its common stock shares for 6.00% Aggregate Convertible Preferred Stock. On March 08, 2022, XELA announced that the executive management of the company informed about their intention to tender the cumulative 5 million common stock shares in the exchange offer. The Company’s Executive Chairman intends to tender 1,528,160 shares of the company’s common stock.
On March 07, 2022, XELA announced the entry of its subsidiaries into a Revolving Loan Exchange and Prepayment contract with certain institutional investors. They acted as revolving investors under its Initial Lien Credit contract. On February 24, 2022, XELA informed the press about its amendment of the offer for the exchange of approximately 100,000,000 common stock shares for unsecured 6.00% senior notes due 2029.
On February 03, 2022, XELA announced that it exceeded 6,000 clients on its Intelligent Document Processing’s work-from-anywhere portfolio.
Conclusion
XELA stock touched a new bottom-line in the past six months as it receded by 78% in that period as the result of the pandemic. Currently, XELA stock dipped following the fourth-quarter financial statement release. The company missed the revenue targets.
