XBP Europe Holdings reported Q3 2024 revenue of $35.4M, down 5.6% YoY but up 5.5% QoQ. Operating profit increased significantly to $2.5M, up $2.2M YoY, while gross margin improved to 32.6%, an 800 bps increase YoY. The company posted a net loss of $2.8M, including $0.7M in FX losses.The Bills & Payments segment generated revenue of $24.6M, declining 3.1% YoY due to lower postage revenue and volumes, while Technology segment revenue decreased 10.8% YoY to $10.8M. Adjusted EBITDA from continuing operations reached $4.8M, more than doubling YoY with a margin expansion to 13.7%.The company announced plans to divest its on-demand printing operation, which generated $6.8M in YTD revenue with negative $3.3M Adjusted EBITDA. XBP Europe maintained adequate liquidity with $7.8M in cash and additional funding available through secured facilities, including a €15M factoring facility.

XBP Europe Holdings reported Q3 2024 revenue of $35.4M, down 5.6% YoY but up 5.5% QoQ. Operating profit increased significantly to $2.5M, up $2.2M YoY, while gross margin improved to 32.6%, an 800 bps increase YoY. The company posted a net loss of $2.8M, including $0.7M in FX losses.The Bills & Payments segment generated revenue of $24.6M, declining 3.1% YoY due to lower postage revenue and volumes, while Technology segment revenue decreased 10.8% YoY to $10.8M. Adjusted EBITDA from continuing operations reached $4.8M, more than doubling YoY with a margin expansion to 13.7%.The company announced plans to divest its on-demand printing operation, which generated $6.8M in YTD revenue with negative $3.3M Adjusted EBITDA. XBP Europe maintained adequate liquidity with $7.8M in cash and additional funding available through secured facilities, including a €15M factoring facility.