XBP Global Q1 revenue down 14.2% to $197.1M, net loss $26.8M; Board launches strategic review

XBP Global Holdings, Inc.

Revenue $197.1M, pro forma decline 14.2% YoY; Net loss $26.8M.
Normalized EBITDA $15.6M, down 39.9% YoY pro forma; Gross margin 22.9% (+70 bps).
Closed $108.1M total TCV (+68.8% YoY); new ACV $27.3M (-3.7% YoY).
Expects $55-60M annualized efficiencies from automation; ~20% headcount reduction by end-2026.
Board approved formal process to explore strategic alternatives to enhance stakeholder value.

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