XBP Europe Holdings, a pan-European integrator of bills, payments, and related solutions, reported a consolidated revenue decrease of 7.7% to $166.6 million for the year ended December 31, 2023, compared to $180.5 million in the previous year. The company's Bills & Payments segment experienced an 11.0% decline in revenue, primarily due to the completion of one-time projects and a client contract end, partially offset by new business. Conversely, the Technology segment saw a 2.5% increase in revenue, driven by higher software license sales and technology implementation services. Net loss widened to $11.0 million from $7.9 million year-over-year, while Adjusted EBITDA decreased to $11.6 million from $14.5 million. The company's cost of revenue decreased by 6.8%, and SG&A expenses rose by 5.2%. XBP Europe Holdings also highlighted its...Show More

XBP Europe Holdings, a pan-European integrator of bills, payments, and related solutions, reported a consolidated revenue decrease of 7.7% to $166.6 million for the year ended December 31, 2023, compared to $180.5 million in the previous year. The company's Bills & Payments segment experienced an 11.0% decline in revenue, primarily due to the completion of one-time projects and a client contract end, partially offset by new business. Conversely, the Technology segment saw a 2.5% increase in revenue, driven by higher software license sales and technology implementation services. Net loss widened to $11.0 million from $7.9 million year-over-year, while Adjusted EBITDA decreased to $11.6 million from $14.5 million. The company's cost of revenue decreased by 6.8%, and SG&A expenses rose by 5.2%. XBP Europe Holdings also highlighted its investment in technology and plans to expand its client base and product offerings, including the XBP Omnidirect and Reaktr.ai platforms. The company expects to incur additional expenses as a public company and has taken steps to address regulatory requirements. Looking ahead, XBP Europe Holdings plans to continue developing strategic client relationships and leverage its solutions across European markets.