On November 12, 2024, XBP Europe Holdings, Inc., a leading pan-European integrator of bills and payments, reported its financial results for the third quarter ending September 30, 2024. The company experienced a revenue decrease of 5.6% year-over-year to $35.4 million but saw an increase of 5.5% sequentially. Gross margin improved significantly, reaching 32.6%, which represents an 800 basis points increase from the previous year and a 1,300 basis points increase sequentially. Operating profit for the quarter was $2.5 million, marking a substantial increase from the same period last year. However, the company reported a net loss of $2.8 million, which included $0.7 million of foreign exchange losses. Adjusted EBITDA from continuing operations was $4.8 million, a notable increase from the previous year. The company also announced plans to divest its on...Show More

On November 12, 2024, XBP Europe Holdings, Inc., a leading pan-European integrator of bills and payments, reported its financial results for the third quarter ending September 30, 2024. The company experienced a revenue decrease of 5.6% year-over-year to $35.4 million but saw an increase of 5.5% sequentially. Gross margin improved significantly, reaching 32.6%, which represents an 800 basis points increase from the previous year and a 1,300 basis points increase sequentially. Operating profit for the quarter was $2.5 million, marking a substantial increase from the same period last year. However, the company reported a net loss of $2.8 million, which included $0.7 million of foreign exchange losses. Adjusted EBITDA from continuing operations was $4.8 million, a notable increase from the previous year. The company also announced plans to divest its on-demand printing operation, which had been classified as a discontinued operation. CEO Andrej Jonovic attributed the quarter's performance to expanding technology sales and cost structure optimization, and highlighted the company's selection for the UK government's G-cloud 14 framework as a promising opportunity. XBP Europe's financial statements and additional details were provided in the press release, along with a supplemental investor presentation available on the company's website.