share_log

8-K: XBP Europe Holdings, Inc. Reports Second Quarter 2024 Results

SEC ·  Aug 12 21:35
Summary by Futu AI
On August 12, 2024, XBP Europe Holdings, Inc., a pan-European integrator of bills and payments, reported its financial results for the second quarter ended June 30, 2024. The company experienced a revenue decline of 14.8% year-over-year to $36.1 million, primarily due to the completion of projects and client contract ends, despite new business impacts. Gross margin fell to 18.4%, and the company reported a net loss of $4.7 million, which included $0.7 million of foreign exchange losses. The quarter also saw an active revenue ramp of approximately $25 million in Annual Contract Value and a strategic financing transaction with HSBC, providing up to $33 million of incremental liquidity. CEO Andrej Jonovic expressed optimism for the remainder of the year, citing a strong sales funnel and the upcoming launch of large public sector contracts. The company's cash and cash equivalents stood at $15.6 million as of June 30, 2024. XBP Europe also posted an investor presentation on its website and filed the full details of its financial results with the SEC.
On August 12, 2024, XBP Europe Holdings, Inc., a pan-European integrator of bills and payments, reported its financial results for the second quarter ended June 30, 2024. The company experienced a revenue decline of 14.8% year-over-year to $36.1 million, primarily due to the completion of projects and client contract ends, despite new business impacts. Gross margin fell to 18.4%, and the company reported a net loss of $4.7 million, which included $0.7 million of foreign exchange losses. The quarter also saw an active revenue ramp of approximately $25 million in Annual Contract Value and a strategic financing transaction with HSBC, providing up to $33 million of incremental liquidity. CEO Andrej Jonovic expressed optimism for the remainder of the year, citing a strong sales funnel and the upcoming launch of large public sector contracts. The company's cash and cash equivalents stood at $15.6 million as of June 30, 2024. XBP Europe also posted an investor presentation on its website and filed the full details of its financial results with the SEC.
Helpful
Not Helpful

This announcement is a separate document:

Doc 1

Doc 2

Doc 3

The information provided by Futu AI is automatically generated by third-party artificial intelligence (AI) software based on news content. It is only available to users located outside of China mainland.


The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.