ExlService (EXLS) revenue breakdown
By segment, Insurance is the largest at 40% of fiscal 2025 revenue; Healthcare and Life Sciences grew fastest, 21% a year over 2 years.
By product, Data and AI-led is the largest at 55% of fiscal 2025 revenue, growing 18% a year over 2 years.
Revenue by segment
Fiscal years, as ExlService reports them in its 10-K filings; fiscal 2025 total $2.1B.
| Segments | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Insurance | $206M | $235M | $311M | $346M | $342M | $382M | $449M | $673M | $767M | $830M | 40% |
| Banking, Capital Markets and Diversified Industries | — | — | — | — | — | — | — | $590M | $639M | $724M | 35% |
| Healthcare and Life Sciences | — | — | — | — | — | — | — | $367M | $432M | $534M | 26% |
| Analytics | $166M | $210M | $285M | $357M | $363M | $461M | $647M | — | — | — | — |
| Emerging Business | — | — | $197M | $190M | $153M | $167M | $219M | — | — | — | — |
| Healthcare | $69M | $77M | $90M | $97M | $101M | $112M | $97M | — | — | — | — |
| F&A | $79M | $87M | — | — | — | — | — | — | — | — | — |
| All Other | $96M | $83M | — | — | — | — | — | — | — | — | — |
| TT&L | $69M | $71M | — | — | — | — | — | — | — | — | — |
Revenue by product
Fiscal years, as ExlService reports them in its 10-K filings; fiscal 2025 total $2.1B.
| Products | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Data and AI-led | — | — | — | — | — | — | — | $835M | $980M | $1.2B | 55% |
| Digital operations | — | — | — | — | — | — | — | $796M | $859M | $932M | 45% |
| Digital operations and solutions | $520M | $552M | $598M | $634M | $596M | $662M | $765M | — | — | — | — |
| Analytics services | $166M | $210M | $285M | $357M | $363M | $461M | $647M | — | — | — | — |
Revenue by region
Fiscal years, as ExlService reports them in its 10-K filings; fiscal 2025 total $2.1B.
| Regions | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | $555M | $626M | $733M | $818M | $815M | $964M | $1.2B | $1.4B | $1.5B | $1.7B | 83% |
| United Kingdom & Europe | — | — | — | — | — | — | — | $227M | $273M | $307M | 15% |
| Rest of World | $21M | $27M | $36M | $60M | $55M | $52M | $64M | $39M | $52M | $55M | 3% |
| UNITED KINGDOM | $110M | $109M | $115M | $113M | $89M | $106M | $135M | — | — | — | — |
Questions
Where does ExlService make its money?
In fiscal 2025, by segment: Insurance $830M, Banking, Capital Markets and Diversified Industries $724M, Healthcare and Life Sciences $534M.
From ExlService's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.