ExlService Holdings, Inc.
Cash Flow Statement
| Line Item | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $68.8M | $64.5M | $67.1M | $60.2M | $58.2M | $66.1M | $66.6M | $50.7M |
| Depreciation & Amortization | $18.9M | $14.6M | $14.0M | $16.5M | $15.1M | $14.1M | $13.5M | $16.2M |
| Depreciation | — | — | $10.8M | $13.0M | $11.8M | $10.8M | $10.3M | $12.1M |
| Amortization | $6.3M | $3.3M | $3.2M | $3.3M | $3.3M | $3.3M | $3.2M | $4.0M |
| Stock-Based Compensation | $25.5M | $24.6M | $22.1M | $20.8M | $23.1M | $16.4M | $19.2M | $15.5M |
| Net Cash from Operating Activities | $119.2M | $87.9M | $1.7M | $117.4M | $120.7M | $109.4M | $3.2M | $105.3M |
| Investing Activities | ||||||||
| Capital Expenditures | $16.7M | $14.5M | $12.9M | $10.9M | $14.4M | $14.4M | $12.9M | $10.1M |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-192.6M | $-50.2M | $44.0M | $33.3M | $-46.3M | $-14.0M | $-22.3M | $-24.6M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | $25.8M | $20.6M | $166.0M | $109.6M | $159.2M | $41.7M | $18.0M | $12.0M |
| Net Cash from Financing Activities | $102.6M | $-56.2M | $-44.6M | $-164.8M | $-63.4M | $-88.0M | $3.4M | $-66.9M |
| Net Change in Cash | $28.3M | $-18.0M | $-1.2M | $-13.9M | $9.3M | $12.0M | $-12.9M | $8.1M |
| Free Cash Flow | $102.5M | $73.4M | $-11.2M | $106.5M | $106.4M | $95.0M | $-9.7M | $95.3M |