ExlService Holdings annual gross margin
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2025
ExlService Holdings Gross Margin Growth & History (EXLS)
ExlService Holdings's gross margin was 38.37% for fiscal 2025.
View full ExlService Holdings company overviewExlService Holdings annual gross margin history
| Fiscal year | Period ended | Gross margin | Change (percentage points) |
|---|---|---|---|
| 2025 | 2025-12-31 | 38.37% | +0.78 pp |
| 2024 | 2024-12-31 | 37.59% | +0.32 pp |
| 2023 | 2023-12-31 | 37.27% | +0.77 pp |
| 2022 | 2022-12-31 | 36.50% | −1.93 pp |
| 2021 | 2021-12-31 | 38.44% | +3.54 pp |
| 2020 | 2020-12-31 | 34.90% | +1.02 pp |
| 2019 | 2019-12-31 | 33.88% | +0.11 pp |
| 2018 | 2018-12-31 | 33.77% | −1.27 pp |
| 2017 | 2017-12-31 | 35.05% | +0.31 pp |
| 2016 | 2016-12-31 | 34.73% | −4.46 pp |
| 2013 | 2013-12-31 | 39.19% | +0.57 pp |
| 2012 | 2012-12-31 | 38.62% | −0.37 pp |
| 2011 | 2011-12-31 | 38.98% | −1.16 pp |
| 2010 | 2010-12-31 | 40.15% | −2.58 pp |
| 2009 | 2009-12-31 | 42.73% | — |
ExlService Holdings quarterly gross margin
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Q3.13
Q4.13
Q1.14
Q2.17
Q3.17
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Q2.18
Q3.18
Q4.18
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Q1.20
Q2.20
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Q1.25
Q2.25
Q3.25
Q4.25
Q1.26
| Fiscal quarter | Period ended | Gross margin | Change (percentage points) |
|---|---|---|---|
| Q1 2026 | 2026-03-31 | 38.94% | +0.35 pp |
| Q4 2025 | 2025-12-31 | 38.63% | +0.54 pp |
| Q3 2025 | 2025-09-30 | 38.51% | +0.75 pp |
| Q2 2025 | 2025-06-30 | 37.75% | +0.66 pp |
| Q1 2025 | 2025-03-31 | 38.58% | +1.22 pp |
| Q4 2024 | 2024-12-31 | 38.10% | +1.42 pp |
| Q3 2024 | 2024-09-30 | 37.76% | +0.05 pp |
| Q2 2024 | 2024-06-30 | 37.08% | −0.39 pp |
| Q1 2024 | 2024-03-31 | 37.36% | +0.13 pp |
| Q4 2023 | 2023-12-31 | 36.67% | +0.03 pp |
| Q3 2023 | 2023-09-30 | 37.71% | +1.49 pp |
| Q2 2023 | 2023-06-30 | 37.48% | +1.26 pp |
| Q1 2023 | 2023-03-31 | 37.23% | +0.27 pp |
| Q4 2022 | 2022-12-31 | 36.64% | −1.20 pp |
| Q3 2022 | 2022-09-30 | 36.22% | −2.56 pp |
| Q2 2022 | 2022-06-30 | 36.21% | −1.73 pp |
| Q1 2022 | 2022-03-31 | 36.97% | −2.28 pp |
| Q4 2021 | 2021-12-31 | 37.84% | −1.59 pp |
| Q3 2021 | 2021-09-30 | 38.78% | +1.88 pp |
| Q2 2021 | 2021-06-30 | 37.94% | +9.14 pp |
| Q1 2021 | 2021-03-31 | 39.25% | +5.37 pp |
| Q4 2020 | 2020-12-31 | 39.43% | +4.93 pp |
| Q3 2020 | 2020-09-30 | 36.90% | +3.54 pp |
| Q2 2020 | 2020-06-30 | 28.80% | −4.49 pp |
| Q1 2020 | 2020-03-31 | 33.88% | −0.49 pp |
| Q4 2019 | 2019-12-31 | 34.50% | +0.46 pp |
| Q3 2019 | 2019-09-30 | 33.35% | −0.81 pp |
| Q2 2019 | 2019-06-30 | 33.29% | −0.25 pp |
| Q1 2019 | 2019-03-31 | 34.37% | +1.09 pp |
| Q4 2018 | 2018-12-31 | 34.04% | −1.97 pp |
| Q3 2018 | 2018-09-30 | 34.17% | −0.39 pp |
| Q2 2018 | 2018-06-30 | 33.54% | −4.95 pp |
| Q1 2018 | 2018-03-31 | 33.28% | −8.68 pp |
| Q3 2017 | 2017-09-30 | 36.01% | −5.08 pp |
| Q2 2017 | 2017-06-30 | 34.55% | −1.72 pp |
| Q1 2014 | 2014-03-31 | 38.49% | +1.34 pp |
| Q4 2013 | 2013-12-31 | 41.95% | +1.88 pp |
| Q3 2013 | 2013-09-30 | 41.10% | +2.04 pp |
| Q2 2013 | 2013-06-30 | 36.27% | −2.59 pp |
| Q1 2013 | 2013-03-31 | 37.15% | +0.88 pp |
| Q4 2012 | 2012-12-31 | 40.07% | +0.53 pp |
| Q3 2012 | 2012-09-30 | 39.05% | +0.79 pp |
| Q2 2012 | 2012-06-30 | 38.86% | +0.02 pp |
| Q1 2012 | 2012-03-31 | 36.26% | −3.08 pp |
| Q4 2011 | 2011-12-31 | 39.54% | −0.41 pp |
| Q3 2011 | 2011-09-30 | 38.26% | +0.02 pp |
| Q2 2011 | 2011-06-30 | 38.85% | — |
| Q1 2011 | 2011-03-31 | 39.35% | — |
| Q3 2010 | 2010-09-30 | 39.95% | — |
| Q2 2010 | 2010-06-30 | 38.25% | — |
ExlService Holdings gross margin trends
Over the last five reported fiscal years, ExlService Holdings's gross margin increased from 34.90% to 38.37%, a change of +3.47 percentage points. The latest reported quarter, Q1 2026, shows 38.94%.
About the metric
What gross margin means
Gross margin measures the percentage of revenue remaining after the direct costs of producing goods or services. It helps show how efficiently a company turns sales into gross profit before operating expenses.
Calculation and source
How gross margin is calculated
TickerStat calculates gross margin as SEC-reported gross profit divided by SEC-reported revenue for the same fiscal period. Changes are shown in percentage points. Fiscal periods can differ from calendar years, so exact period-end dates are included.
Review ExlService Holdings filings at SEC.gov ↗