XBP Europe reported Q2 2024 revenue of $36.1 million, down 14.8% from $42.4 million in Q2 2023, with net loss widening to $4.7 million from $0.6 million. Bills & Payments segment revenue fell 9.6% to $27.3 million, while Technology segment revenue decreased 27.6% to $8.8 million. The decline was primarily due to project completions, lower volumes and contract ends, partially offset by new business wins.The company strengthened its financial position by entering into a new £15.0 million and €10.5 million Facilities Agreement with HSBC in June 2024, comprising term loans and a revolving credit facility. Cash and equivalents increased to $15.6 million as of June 30, 2024, up from $6.9 million at year-end 2023. The company continued implementing cost optimization initiatives, reducing operating and facility expenses.Management remains focused on restructuring efforts to realign business priorities and rightsize workforce. The company established a Center of Excellence to strengthen controls framework by consolidating financial processes. Despite near-term headwinds, XBP Europe maintains sufficient liquidity with $11.3 million in available credit facilities and expects continued benefits from operational efficiency initiatives.

XBP Europe reported Q2 2024 revenue of $36.1 million, down 14.8% from $42.4 million in Q2 2023, with net loss widening to $4.7 million from $0.6 million. Bills & Payments segment revenue fell 9.6% to $27.3 million, while Technology segment revenue decreased 27.6% to $8.8 million. The decline was primarily due to project completions, lower volumes and contract ends, partially offset by new business wins.The company strengthened its financial position by entering into a new £15.0 million and €10.5 million Facilities Agreement with HSBC in June 2024, comprising term loans and a revolving credit facility. Cash and equivalents increased to $15.6 million as of June 30, 2024, up from $6.9 million at year-end 2023. The company continued implementing cost optimization initiatives, reducing operating and facility expenses.Management remains focused on restructuring efforts to realign business priorities and rightsize workforce. The company established a Center of Excellence to strengthen controls framework by consolidating financial processes. Despite near-term headwinds, XBP Europe maintains sufficient liquidity with $11.3 million in available credit facilities and expects continued benefits from operational efficiency initiatives.