XBP Europe Q1 revenue down 5.7% to $40.4M; net loss narrows; wins $40M HMPO contract

XBP Global Holdings, Inc.

2024-Q1 EPS reported -$0.07

Revenue $40.4M (down 5.7% YoY); gross margin improved to 24.6% (+250 bps YoY).
Net loss $2.2M vs $2.5M loss in Q1 2023; operating income $0.1M vs loss $1.0M.
Technology segment revenue up 24.3% YoY to $11.5M, becoming 28.4% of total revenue.
Adjusted EBITDA $1.8M (down 23.4% YoY); margin 4.5% vs 5.6%.
Awarded multi-year UK HMPO contract with total contract value of approx. $40M, expected to go live summer 2024.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

XBP Global Holdings, Inc. reported the quarter ended March 31, 2024 results: revenue $40.4 million, net income $2.2 million.

Period: the quarter ended March 31, 2024
Revenue: $40.4 million
Net income: $2.2 million
Result: reported results

Exact text from the filing

reference in such a filing. --- EX-99.1 (EX-99.1) --- XBP Europe Holdings, Inc. Reports First Quarter 2024 Results May 13, 2024 First Quarter Highlights ● Revenue of $40.4 million, down 5.7% year-over-year (7.3% on a constant currency basis) ● Gross margin grew to 24.6%, a 270 bps increase sequentially and 250 bps increase year-over-year ● Net loss of $2.2

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Source: SEC EDGAR

accession 0001558370-24-007867

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