Exela (XELA) 10-Q 16 Aug 21 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2021	Aug. 13, 2021
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2021
Entity File Number	001-36788
Entity Registrant Name	Exela Technologies, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-1347291
Entity Address, Address Line One	2701 E. Grauwyler Rd.
Entity Address, City or Town	Irving
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75061
City Area Code	844
Local Phone Number	935-2832
Title of 12(b) Security	Common Stock, Par Value $0.0001 per share
Trading Symbol	XELA
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		144,041,323
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001620179
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 45,866	$ 68,221
Restricted cash	1,998	2,088
Accounts receivable, net of allowance for doubtful accounts of $5,885 and $5,647, respectively	201,929	206,868
Related party receivables and prepaid expenses	712	711
Inventories, net	15,130	14,314
Prepaid expenses and other current assets	25,822	31,091
Total current assets	291,457	323,293
Property, plant and equipment, net of accumulated depreciation of $185,684 and $193,760, respectively	76,520	87,851
Operating lease right-of-use assets, net	63,529	68,861
Goodwill	358,561	359,781
Intangible assets, net	268,525	292,664
Deferred income tax assets	6,643	6,606
Other noncurrent assets	25,420	18,723
Total assets	1,090,655	1,157,779
Current liabilities
Accounts payable	65,801	76,027
Related party payables	489	97
Income tax payable	1,654	2,466
Accrued liabilities	111,713	126,399
Accrued compensation and benefits	63,417	63,467
Accrued interest	48,952	48,769
Customer deposits	15,269	21,277
Deferred revenue	20,935	16,377
Obligation for claim payment	25,562	29,328
Current portion of finance lease liabilities	9,960	12,231
Current portion of operating lease liabilities	17,096	18,349
Current portion of long-term debts	34,778	39,952
Total current liabilities	415,626	454,739
Long-term debt, net of current maturities	1,497,063	1,498,004
Finance lease liabilities, net of current portion	11,884	13,287
Pension liabilities, net	34,885	35,515
Deferred income tax liabilities	10,331	9,569
Long-term income tax liabilities	2,283	2,759
Operating lease liabilities, net of current portion	49,391	56,814
Other long-term liabilities	12,458	13,624
Total liabilities	2,033,921	2,084,311
Commitments and Contingencies (Note 8)
Stockholders' equity (deficit)
Common stock, par value of $0.0001 per share; 1,600,000,000 shares authorized; 72,860,988 shares issued and 70,409,282 shares outstanding at June 30, 2021 and 51,693,931 shares issued and 49,242,225 shares outstanding at December 31, 2020	17	15
Preferred stock, par value of $0.0001 per share; 20,000,000 shares authorized; 2,778,111 shares issued and outstanding at June 30, 2021 and 3,290,050 shares issued and outstanding at December 31, 2020	1	1
Additional paid in capital	489,176	446,739
Less: Common Stock held in treasury, at cost; 2,451,706 shares at June 30, 2021 and December 31, 2020	(10,949)	(10,949)
Equity-based compensation	53,163	52,183
Accumulated deficit	(1,448,605)	(1,390,038)
Accumulated other comprehensive loss:
Foreign currency translation adjustment	(8,763)	(7,419)
Unrealized pension actuarial losses, net of tax	(17,306)	(17,064)
Total accumulated other comprehensive loss	(26,069)	(24,483)
Total stockholders' deficit	(943,266)	(926,532)
Total liabilities and stockholders' deficit	$ 1,090,655	$ 1,157,779

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Condensed Consolidated Balance Sheets
Accounts receivable, allowance for doubtful accounts	$ 5,885	$ 5,647
Accumulated depreciation	$ 185,684	$ 193,760
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock shares authorized	1,600,000,000	1,600,000,000
Common stock, shares issued	72,860,988	51,693,931
Common stock, shares outstanding	70,409,282	49,242,225
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	20,000,000	20,000,000
Preferred stock, shares issued	2,778,111	3,290,050
Preferred stock, shares outstanding	2,778,111	3,290,050
Common stock held in treasury at cost (in shares)	2,451,706	2,451,706

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Condensed Consolidated Statements of Operations
Revenue	$ 293,009	$ 307,722	$ 593,065	$ 673,173
Cost of revenue (exclusive of depreciation and amortization)	209,080	241,788	441,667	534,326
Selling, general and administrative expenses (exclusive of depreciation and amortization)	36,390	47,014	78,275	97,387
Depreciation and amortization	19,420	22,847	39,019	46,032
Related party expense	2,748	1,146	4,455	2,698
Operating profit (loss)	25,371	(5,073)	29,649	(7,270)
Other expense (income), net:
Interest expense, net	42,867	44,440	85,998	86,028
Sundry expense (income), net	(787)	(899)	(574)	183
Other expense (income), net	651	(584)	803	(35,241)
Net loss before income taxes	(17,360)	(48,030)	(56,578)	(58,240)
Income tax benefit (expense)	(2,007)	(661)	(1,989)	(3,120)
Net loss	(19,367)	(48,691)	(58,567)	(61,360)
Cumulative dividends for Series A Preferred Stock	(798)	(858)	98	582
Net loss attributable to common stockholders	$ (20,165)	$ (49,549)	$ (58,469)	$ (60,778)
Basic and diluted (in dollars per share)	$ (0.33)	$ (1.01)	$ (1.04)	$ (1.24)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Condensed Consolidated Statements of Comprehensive Loss
Net loss	$ (19,367)	$ (48,691)	$ (58,567)	$ (61,360)
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments	(1,444)	22	(1,344)	942
Unrealized pension actuarial gains (losses), net of tax	(85)	33	(242)	537
Total other comprehensive loss, net of tax	$ (20,896)	$ (48,636)	$ (60,153)	$ (59,881)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Deficit - USD ($) $ in Thousands	Common StockPrivate Placement	Common StockAt the Market Offering	Common Stock	Preferred Stock	Treasury Stock	Additional Paid in CapitalPrivate Placement	Additional Paid in CapitalAt the Market Offering	Additional Paid in Capital	Equity-Based Compensation	Foreign Currency Translation Adjustment	Unrealized Pension Actuarial Losses, net of tax	Accumulated Deficit	Private Placement	At the Market Offering	Total
Beginning balance at Dec. 31, 2019			$ 15	$ 1	$ (10,949)			$ 445,452	$ 49,336	$ (7,329)	$ (8,059)	$ (1,211,508)			$ (743,041)
Beginning balance (in shares) at Dec. 31, 2019			50,283,896	4,294,233	929,049
Increase (Decrease) in Stockholders' Equity (Deficit)
Net loss												(12,670)			(12,670)
Equity-based compensation									861						861
Foreign currency translation adjustment										920					920
Net realized pension actuarial gains, net of tax											504				$ 504
Shares returned in connection with the Appraisal Action following repayment of Margin Loan (in shares)			(1,523,578)		1,523,578										1,523,578
Preferred shares converted to common stock				(1,004,183)
Preferred shares converted to common stock (in shares)			409,238
Ending balance at Mar. 31, 2020			$ 15	$ 1	$ (10,949)			445,452	50,197	(6,409)	(7,555)	(1,224,178)			$ (753,426)
Ending balance (in shares) at Mar. 31, 2020			49,169,556	3,290,050	2,452,627
Beginning balance at Dec. 31, 2019			$ 15	$ 1	$ (10,949)			445,452	49,336	(7,329)	(8,059)	(1,211,508)			(743,041)
Beginning balance (in shares) at Dec. 31, 2019			50,283,896	4,294,233	929,049
Increase (Decrease) in Stockholders' Equity (Deficit)
Net loss															(61,360)
Foreign currency translation adjustment															942
Net realized pension actuarial gains, net of tax															537
Settlement gain on related party payable to Ex-Sigma 2															1,287
Ending balance at Jun. 30, 2020			$ 15	$ 1	$ (10,949)			446,739	51,118	(6,387)	(7,522)	(1,272,869)			(799,854)
Ending balance (in shares) at Jun. 30, 2020			49,170,477	3,290,050	2,451,706
Beginning balance at Mar. 31, 2020			$ 15	$ 1	$ (10,949)			445,452	50,197	(6,409)	(7,555)	(1,224,178)			(753,426)
Beginning balance (in shares) at Mar. 31, 2020			49,169,556	3,290,050	2,452,627
Increase (Decrease) in Stockholders' Equity (Deficit)
Net loss												(48,691)			(48,691)
Equity-based compensation									921						921
Foreign currency translation adjustment										22					22
Net realized pension actuarial gains, net of tax											33				33
Settlement gain on related party payable to Ex-Sigma 2								1,287							1,287
Adjustment to number of shares withheld in lieu of tax obligation of RSU holders in the year 2018			921		(921)
Ending balance at Jun. 30, 2020			$ 15	$ 1	$ (10,949)			446,739	51,118	(6,387)	(7,522)	(1,272,869)			(799,854)
Ending balance (in shares) at Jun. 30, 2020			49,170,477	3,290,050	2,451,706
Beginning balance at Dec. 31, 2020			$ 15	$ 1	$ (10,949)			446,739	52,183	(7,419)	(17,064)	(1,390,038)			(926,532)
Beginning balance (in shares) at Dec. 31, 2020			49,242,225	3,290,050	2,451,706
Increase (Decrease) in Stockholders' Equity (Deficit)
Net loss												(39,200)			(39,200)
Equity-based compensation									387						387
Foreign currency translation adjustment										100					100
Net realized pension actuarial gains, net of tax											(157)				(157)
Preferred shares converted to common stock				(510,681)
Preferred shares converted to common stock (in shares)			223,413
Payment for fractional shares on Reverse Stock Split								(14)							(14)
Payment for fractional shares on Reverse Stock Split (in shares)			(5,445)
Issuance of Common Stock	$ 1					$ 25,079							$ 25,080
Issuance of Common Stock (in shares)	9,731,819
Ending balance at Mar. 31, 2021			$ 16	$ 1	$ (10,949)			471,804	52,570	(7,319)	(17,221)	(1,429,238)			(940,336)
Ending balance (in shares) at Mar. 31, 2021			59,192,012	2,779,369	2,451,706
Beginning balance at Dec. 31, 2020			$ 15	$ 1	$ (10,949)			446,739	52,183	(7,419)	(17,064)	(1,390,038)			(926,532)
Beginning balance (in shares) at Dec. 31, 2020			49,242,225	3,290,050	2,451,706
Increase (Decrease) in Stockholders' Equity (Deficit)
Net loss															(58,567)
Foreign currency translation adjustment															(1,344)
Net realized pension actuarial gains, net of tax															(242)
Preferred shares converted to common stock (in shares)			223,977
Ending balance at Jun. 30, 2021			$ 17	$ 1	$ (10,949)			489,176	53,163	(8,763)	(17,306)	(1,448,605)			(943,266)
Ending balance (in shares) at Jun. 30, 2021			70,409,282	2,778,111	2,451,706
Beginning balance at Mar. 31, 2021			$ 16	$ 1	$ (10,949)			471,804	52,570	(7,319)	(17,221)	(1,429,238)			(940,336)
Beginning balance (in shares) at Mar. 31, 2021			59,192,012	2,779,369	2,451,706
Increase (Decrease) in Stockholders' Equity (Deficit)
Net loss												(19,367)			(19,367)
Equity-based compensation									593						593
Foreign currency translation adjustment										(1,444)					(1,444)
Net realized pension actuarial gains, net of tax											(85)				(85)
Preferred shares converted to common stock				(1,258)
Preferred shares converted to common stock (in shares)			564
Issuance of Common Stock		$ 1					$ 17,372							$ 17,373
Issuance of Common Stock (in shares)		11,216,706
Ending balance at Jun. 30, 2021			$ 17	$ 1	$ (10,949)			$ 489,176	$ 53,163	$ (8,763)	$ (17,306)	$ (1,448,605)			$ (943,266)
Ending balance (in shares) at Jun. 30, 2021			70,409,282	2,778,111	2,451,706

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities
Net loss	$ (58,567)	$ (61,360)
Adjustments to reconcile net loss
Depreciation and amortization	39,019	46,032
Original issue discount and debt issuance cost amortization	7,829	6,857
Provision for doubtful accounts	1,781	(110)
Deferred income tax provision	(41)	(338)
Share-based compensation expense	980	1,782
Unrealized foreign currency losses	(485)	(980)
Gain on sale of assets	(238)	(34,791)
Fair value adjustment for interest rate swap	(125)	440
Change in operating assets and liabilities, net of effect from acquisitions
Accounts receivable	2,004	38,260
Prepaid expenses and other assets	(3,447)	(9,157)
Accounts payable and accrued liabilities	(34,785)	(8,812)
Related party payables	391	(642)
Additions to outsource contract costs	(304)	(297)
Net cash used in operating activities	(45,988)	(23,116)
Cash flows from investing activities
Purchase of property, plant and equipment	(3,498)	(5,766)
Additions to internally developed software	(820)	(2,216)
Cash paid for acquisition, net of cash received		(3,500)
Proceeds from sale of assets	4,252	38,222
Net cash provided by (used in) investing activities	(66)	26,740
Cash flows from financing activities
Cash paid for equity issuance costs from at the market offerings	(745)
Borrowings under factoring arrangement and Securitization Facilities	66,098	149,951
Principal repayment on borrowings under factoring arrangement and Securitization Facilities	(68,800)	(66,114)
Lease terminations	(119)	(331)
Cash paid for debt issuance costs		(12,708)
Principal payments on finance lease obligations	(5,600)	(6,353)
Borrowings from senior secured revolving facility	3,000	29,750
Repayments on senior secured revolving facility	(55)	(14,200)
Borrowings from other loans	4,776	23,248
Principal repayments on senior secured term loans and other loans	(18,076)	(29,040)
Net cash provided by financing activities	23,662	74,203
Effect of exchange rates on cash	(53)	1
Net decrease in cash and cash equivalents	(22,445)	77,828
Cash, restricted cash, and cash equivalents
Beginning of period	70,309	14,099
End of period	47,864	91,927
Supplemental cash flow data:
Income tax payments, net of refunds received	1,994	1,339
Interest paid	75,136	76,781
Noncash investing and financing activities:
Assets acquired through right-of-use arrangements	2,159	772
Leasehold improvements funded by lessor	125
Settlement gain on related party payable to Ex-Sigma 2		1,287
Accrued capital expenditures	1,505	$ 1,088
Private Placement
Cash flows from financing activities
Proceeds from issuance of stock	25,065
At the Market Offering
Cash flows from financing activities
Proceeds from issuance of stock	$ 18,118

General

General	6 Months Ended
	Jun. 30, 2021
General
General	1. General These condensed consolidated financial statements should be read in conjunction with the notes to the consolidated financial statements as of and for the year ended December 31, 2020 included in the Exela Technologies, Inc. (the "Company," "Exela," "we," "our" or "us") annual report on Form 10-K for such period (the “2020 Form 10-K”). The accompanying condensed consolidated financial statements have been prepared using accounting principles generally accepted in the United States of America ("GAAP") and with the instructions to Form 10-Q and Rule 10-01 of Securities and Exchange Commission ("SEC") Regulation S-X as they apply to interim financial information. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. These accounting principles require us to use estimates and assumptions that impact the reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities. Actual results may differ from our estimates. The condensed consolidated financial statements are unaudited, but in our opinion include all adjustments (consisting of normal recurring adjustments) necessary for a fair statement of the results for the interim period. The interim financial results are not necessarily indicative of results that may be expected for any other interim period or the fiscal year. The Company raised $44.9 million and $179.0 million in gross proceeds from equity financings during the six months ended June 30, 2021 (Note 11) and subsequent to June 30, 2021 (Note 14), respectively. As a result of this, the Company believes it has sufficient liquidity along with funds generated from ongoing operations, to fund anticipated cash requirements for operations, capital expenditures and working capital purposes. As a result, substantial doubt no longer exists regarding the Company’s ability to meet its obligations as they become due within one year after the date that the financial statements are issued. Net Loss per Share Earnings per share (“EPS”) is computed by dividing net loss available to holders of the Company’s common stock, par value $0.0001 per share (“Common Stock”) by the weighted average number of shares of Common Stock outstanding during the period, excluding the effects of any potentially dilutive securities. Diluted EPS gives effect to the potential dilution that could occur if securities or other contracts to issue Common Stock were exercised or converted into Common Stock, using the more dilutive of the two-class method and the if-converted method in periods of earnings. The two class method is an earnings allocation method that determines earnings per share (when there are earnings) for Common Stock and participating securities. The if-converted method assumes all convertible securities are converted into Common Stock. Diluted EPS excludes all dilutive potential shares of Common Stock if their effect is anti-dilutive. As the Company experienced net losses for the periods presented, the impact of the Company’s Series A Convertible Preferred Stock (“Series A Preferred Stock”) was calculated using the if-converted method. As of June 30, 2021, the outstanding shares of the Company’s Series A Preferred Stock, if converted would have resulted in an additional 1,245,758 shares of Common Stock outstanding, however, they were not included in the computation of diluted loss per share as their effects were anti-dilutive (i.e., reduces the net loss per share). The Company was originally incorporated as a special purpose acquisition company under the name Quinpario Acquisition Corp 2 (“Quinpario”), which changed its name to Exela Technologies, Inc. in July 2017. The Company also did not include the effect of 35,000,000 warrants sold in the Quinpario Initial Public Offering (“IPO”), the effect of 9,731,819 warrants sold in a private placement of securities on March 18, 2021 or the effect of the aggregate number of shares issuable pursuant to outstanding restricted stock units and options of 2,202,498 and 1,667,582 as of June 30, 2021 and 2020, respectively, in the calculation of diluted loss per share for the three and six months ended June 30, 2021 and 2020, because their effects were anti-dilutive. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ​ 2021 2020 2021 2020 Net loss attributable to common stockholders (A) ​ $ (20,165) ​ $ (49,549) ​ $ (58,469) ​ $ (60,778) Weighted average common shares outstanding - basic and diluted (B) ​ ​ 61,474,020 ​ ​ 49,169,556 ​ ​ 56,090,162 ​ ​ 49,117,306 Loss Per Share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted (A/B) ​ $ (0.33) ​ $ (1.01) ​ $ (1.04) ​ $ (1.24) ​ ​ The weighted average common shares outstanding - basic and diluted, in the table above, exclude in each case the 1,523,578 shares returned to the Company in the first quarter of 2020 in connection with the Appraisal Action which became treasury stock. ​ Sale of Non-Core Assets On March 16, 2020, the Company and its indirect wholly owned subsidiaries, Merco Holdings, LLC and SourceHOV Tax, LLC entered into a Membership Interest Purchase Agreement with Gainline Source Intermediate Holdings LLC at which time Gainline Source Intermediate Holdings LLC acquired all of the outstanding membership interests of SourceHOV Tax, LLC for $40.0 million subject to adjustment as set forth in the purchase agreement. The Company recognized a gain of $35.5 million on the sale of SourceHOV Tax, LLC during the first quarter of 2020, which takes into account approximately $2.0 million downwards adjustments to the purchase price in accordance with the purchase agreement. The gain on sale of SourceHOV Tax, LLC is included in Other expense (income), net in the condensed consolidated statements of operations for the six months ended June 30, 2020. ​ On July 22, 2020, the Company completed the sale of its physical records storage and logistics business for a purchase price of $12.3 million. ​ Impact of COVID-19 The coronavirus pandemic (“COVID-19”) continues to expose our global operations to risks. COVID-19 continues to result in challenging operating environments and has affected almost all of the countries and territories in which we operate. Authorities across the world have implemented measures like travel bans, quarantines, curfews, restrictions on public gatherings, shelter in place orders, business shutdowns and closures to control the spread of COVID-19. These measures, alongside the virus itself, have impacted, and we expect will continue to impact, us, our customers, suppliers and other third parties with whom we do business, as well as the global economy, demand for our services and spending across many sectors, as a whole. While some jurisdictions have now started to implement plans for reopening, there are others which have had to return to restrictions due to increased spread of COVID-19. ​ The Company is dependent on its workforce to deliver its solutions and services. While we have developed and implemented health and safety protocols, business continuity plans and crisis management protocols in an effort to try to mitigate the negative impact of COVID-19, restrictions such as shutdowns, social distancing and stay-at-home orders in various jurisdictions have impacted and will continue to impact the Company’s ability to deploy its workforce effectively. Vaccination availability in certain countries is limited and that is resulting in some of our employees not being available. We have been performing and delivering all of our essential services out of our facilities and delivery centers. Most of our customer site employees (onsite) continue to perform the work and take directions from our customers. A part of our non-essential services related workforce has started to operate from offices and delivery centers, but many are still operating in a remote work environment. ​ Currently we are experiencing minor changes in work types, and this may evolve over the remaining year as customer’s priorities are changing and customers are pushing for more automation. The full impact of the COVID-19 outbreak continues to evolve as of the date of this report and the extent to which COVID-19 will ultimately impact the Company’s business depends upon various dynamic factors which are difficult to reliably predict. Management continues to actively monitor the global situation and its impact on the Company’s financial condition, liquidity, operations, suppliers, industry, and workforce. Overall, in light of the changing nature and continuing uncertainty around the COVID-19 pandemic, our ability to fully estimate the impact of COVID-19 on our results of operations, financial condition, or liquidity in future periods remains limited. Shifts in our customers’ priorities and changes to the transaction types offered are still evolving and the dynamic situation hinders reliable forecasting. The effects of the pandemic on our business are unlikely to be fully realized, or reflected in our financial results, until future periods.

New Accounting Pronouncements

New Accounting Pronouncements	6 Months Ended
	Jun. 30, 2021
New Accounting Pronouncements
New Accounting Pronouncements	2. New Accounting Pronouncements Recently Adopted Accounting Pronouncements Effective January 1, 2021, the Company adopted Accounting Standards Update (“ASU”) no. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes Income Taxes, ​ Recently Issued Accounting Pronouncements In May 2021, the FASB issued ASU no. 2021-04, Earnings Per Share (Topic 260), Debt — Modifications and Extinguishments (Subtopic 470-50), Compensation — Stock Compensation (Topic 718), and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40): Issuer’s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options (a consensus of the Emerging Issues Task Force) ​ In August 2020, the FASB issued ASU no. 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity ​ In June 2016, the FASB issued ASU no. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, Financial Instruments—Credit Losses (Topic 326) Codification Improvements to Topic 326, Financial Instruments—Credit Losses to retained earnings as of the effective date. The Company is currently evaluating the impact that adopting this standard will have on the consolidated financial statements.

Significant Accounting Policies

Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
Significant Accounting Policies
Significant accounting policies	3. Significant Accounting Policies The information presented below supplements the Significant Accounting Policies information presented in our 2020 Form 10-K. Revenue Recognition We account for revenue in accordance with ASC 606, Revenue from Contracts with Customers Nature of Services Our primary performance obligations are to stand ready to provide various forms of business processing services, consisting of a series of distinct services, but that are substantially the same, and have the same pattern of transfer over time, and accordingly are combined into a single performance obligation. Our promise to our customers is typically to perform an unknown or unspecified quantity of tasks and the consideration received is contingent upon the customers’ use (i.e., number of transactions processed, requests fulfilled, etc.); as such, the total transaction price is variable. We allocate the variable fees to the single performance obligation charged to the distinct service period in which we have the contractual right to bill under the contract. Disaggregation of Revenues The Company is organized into three segments: Information & Transaction Processing Solutions (“ITPS”), Healthcare Solutions (“HS”), and Legal & Loss Prevention Services (“LLPS”) (See Note 13). The following tables disaggregate revenue from contracts by segment and by geographic region for the three and six months ended June 30, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ ​ 2021 ​ 2020 ​ ​ ​ ITPS    ​ ​ HS    ​ ​ LLPS    ​ ​ Total    ​ ​ ITPS    ​ ​ HS    ​ ​ LLPS    ​ ​ Total U.S.A. $ 162,491 ​ $ 56,204 ​ $ 19,545 ​ $ 238,240 ​ $ 190,775 ​ $ 49,166 ​ $ 15,527 $ 255,468 EMEA ​ 49,892 ​ — ​ — ​ 49,892 ​ 47,084 ​ — ​ — ​ 47,084 Other ​ 4,877 ​ — ​ — ​ 4,877 ​ 5,170 ​ — ​ — ​ 5,170 Total $ 217,260 ​ $ 56,204 ​ $ 19,545 ​ $ 293,009 ​ $ 243,029 ​ $ 49,166 $ 15,527 $ 307,722 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30, ​ ​ 2021 ​ 2020 ​ ​ ITPS    ​ ​ HS    ​ ​ LLPS    ​ ​ Total    ​ ​ ITPS    ​ ​ HS    ​ ​ LLPS    ​ ​ Total U.S.A. $ 335,414 ​ $ 107,297 ​ $ 36,633 ​ $ 479,344 ​ $ 414,163 ​ $ 113,216 ​ $ 32,817 ​ $ 560,196 EMEA ​ 104,101 ​ — ​ — ​ 104,101 ​ ​ 100,990 ​ — ​ — ​ ​ 100,990 Other ​ 9,620 ​ — ​ — ​ 9,620 ​ ​ 11,987 ​ — ​ — ​ ​ 11,987 Total $ 449,135 ​ $ 107,297 ​ $ 36,633 ​ $ 593,065 ​ $ 527,140 ​ $ 113,216 $ 32,817 $ 673,173 ​ Contract Balances The following table presents contract assets, contract liabilities and contract costs recognized at June 30, 2021 and December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ ​ 2021 ​ 2020 Accounts receivable, net ​ $ 201,929 ​ $ 206,868 Deferred revenues ​ 21,173 ​ 16,919 Customer deposits ​ 15,269 ​ 21,277 Costs to obtain and fulfill a contract ​ 2,790 ​ 3,295 ​ Accounts receivable, net includes $25.3 million and $23.2 million as of June 30, 2021 and December 31, 2020, respectively, representing amounts not yet billed to customers. We have accrued the unbilled receivables for work performed in accordance with the terms of contracts with customers. Deferred revenues relate to payments received in advance of performance under a contract. A significant portion of this balance relates to maintenance contracts or other service contracts where we received payments for upfront conversions or implementation activities which do not transfer a service to the customer but rather are used in fulfilling the related performance obligations that transfer over time. The advance consideration received from customers is deferred over the contract term. We recognized revenue of $11.8 million during the six months ended June 30, 2021 that had been deferred as of December 31, 2020. Costs incurred to obtain and fulfill contracts are deferred and presented as part of intangible assets, net and expensed on a straight-line basis over the estimated benefit period. We recognized $0.8 million of amortization for these costs for the six months ended June 30, 2021 within depreciation and amortization expense. These costs represent incremental external costs or certain specific internal costs that are directly related to the contract acquisition or fulfillment and can be separated into two principal categories: contract commissions and fulfillment costs. Applying the practical expedient in ASC 340-40-25-4, we recognize the incremental costs of obtaining contracts as an expense when incurred if the amortization period would have been one year or less. These costs are included in Selling, general and administrative expenses. The effect of applying this practical expedient was not material. Customer deposits consist primarily of amounts received from customers in advance for postage. These advanced postage deposits are used to cover the costs associated with postage, with the corresponding postage revenue being recognized as services are performed. Performance Obligations At the inception of each contract, we assess the goods and services promised in our contracts and identify each distinct performance obligation. The majority of our contracts have a single performance obligation, as the promise to transfer the individual goods or services is not separately identifiable from other promises in the contracts. For the majority of our business and transaction processing service contracts, revenues are recognized as services are provided based on an appropriate input or output method, typically based on the related labor or transactional volumes. ​ A certain number of our contracts have multiple performance obligations, including contracts that combine software implementation services with post-implementation customer support. For contracts with multiple performance obligations, we allocate the contract’s transaction price to each performance obligation using our best estimate of the standalone selling price of each distinct good or service in the contract. The primary method used to estimate standalone selling price is the expected cost plus a margin approach, under which we estimate our expected costs of satisfying a performance obligation and add an appropriate margin for that distinct good or service. We also use the adjusted market approach whereby we estimate the price that customers in the market would be willing to pay. In assessing whether to allocate variable consideration to a specific part of the contract, we consider the nature of the variable payment and whether it relates specifically to its efforts to satisfy a specific part of the contract. A certain number of our software implementation performance obligations are satisfied at a point in time, typically when customer acceptance is obtained. ​ When evaluating the transaction price, we analyze, on a contract-by-contract basis, all applicable variable consideration. The nature of our contracts give rise to variable consideration, including volume discounts, contract penalties, and other similar items that generally decrease the transaction price. We estimate these amounts based on the expected amount to be provided to customers and reduce revenues recognized. We do not anticipate significant changes to our estimates of variable consideration. ​ We include reimbursements from customers, such as postage costs, in revenue, while the related costs are included in cost of revenue. Transaction Price Allocated to the Remaining Performance Obligations In accordance with optional exemptions available under ASC 606, we did not disclose the value of unsatisfied performance obligations for (a) contracts with an original expected length of one year or less, and (b) contracts for which variable consideration relates entirely to an unsatisfied performance obligation, which comprise the majority of our contracts. We have certain non-cancellable contracts where we receive a fixed monthly fee in exchange for a series of distinct services that are substantially the same and have the same pattern of transfer over time, with the corresponding remaining performance obligations as of June 30, 2021 in each of the future periods below: ​ ​ ​ ​ ​ Estimated Remaining Fixed Consideration for Unsatisfied ​ ​ ​ Remainder of 2021 ​ $ 26,468 2022 ​ 37,762 2023 ​ 31,696 2024 ​ 28,258 2025 ​ 27,748 2026 and thereafter ​ 302 Total $ 152,234 ​

Intangibles Assets and Goodwill

Intangibles Assets and Goodwill	6 Months Ended
	Jun. 30, 2021
Intangibles Assets and Goodwill
Intangibles Assets and Goodwill	4. Intangibles Assets and Goodwill Intangible Assets Intangible assets are stated at cost or acquisition-date fair value less accumulated amortization and consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2021 ​ ​ Gross Carrying ​ Accumulated ​ Intangible ​ Amount (a) Amortization Asset, net Customer relationships ​ $ 508,524 ​ $ (297,259) ​ $ 211,265 Developed technology ​ ​ 88,553 ​ ​ (87,361) ​ ​ 1,192 Trade names (b) ​ ​ 8,400 ​ ​ (3,100) ​ ​ 5,300 Outsource contract costs ​ ​ 16,598 ​ ​ (13,808) ​ ​ 2,790 Internally developed software ​ ​ 48,040 ​ ​ (24,030) ​ ​ 24,010 Assembled workforce ​ ​ 4,473 ​ ​ (2,796) ​ ​ 1,677 Purchased software ​ ​ 26,749 ​ ​ (4,458) ​ ​ 22,291 Intangibles, net ​ $ 701,337 ​ $ (432,812) ​ $ 268,525 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ Gross Carrying ​ Accumulated ​ Intangible ​ Amount (a) Amortization Asset, net Customer relationships ​ $ 508,485 ​ $ (278,306) ​ $ 230,179 Developed technology ​ ​ 88,553 ​ ​ (87,111) ​ ​ 1,442 Trade names (b) ​ ​ 8,400 ​ ​ (3,100) ​ ​ 5,300 Outsource contract costs ​ ​ 16,331 ​ ​ (13,036) ​ ​ 3,295 Internally developed software ​ ​ 47,182 ​ ​ (20,152) ​ ​ 27,030 Assembled workforce ​ ​ 4,473 ​ ​ (2,237) ​ ​ 2,236 Purchased software ​ ​ 26,749 ​ ​ (3,567) ​ ​ 23,182 Intangibles, net ​ $ 700,173 ​ $ (407,509) ​ $ 292,664 ​ (a) Amounts include intangible assets acquired in business combinations and asset acquisitions. (b) The carrying amount of trade names for 2021 and 2020 is net of accumulated impairment losses of $44.1 million. Carrying amount of $5.3 million as at June 30, 2021 represents indefinite-lived intangible asset. Goodwill The Company’s operating segments are significant strategic business units that align its products and services with how it manages its business, approach the markets and interacts with its clients. The Company is organized into three segments: ITPS, HS, and LLPS (See Note 13). Goodwill by reporting segment consists of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balances as at January 1, 2020 (a) ​ ​ Additions ​ ​ Deletions ​ ​ Impairments ​ ​ Currency Translation Adjustments ​ ​ Balances as at December 31, 2020 (a) ITPS ​ $ 254,120 ​ $ — ​ $ — ​ $ — ​ $ 10 ​ $ 254,130 HS ​ ​ 86,786 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 86,786 LLPS ​ ​ 18,865 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 18,865 Total ​ $ 359,771 ​ $ — ​ $ — ​ $ — ​ $ 10 ​ $ 359,781 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balances as at January 1, 2021 (a) ​ ​ Additions ​ ​ Deletions ​ ​ Impairments ​ ​ Currency Translation Adjustments ​ ​ Balances as at June 30, 2021 (a) ITPS ​ $ 254,130 ​ $ — ​ $ (825) ​ $ — ​ $ (395) ​ $ 252,910 HS ​ ​ 86,786 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 86,786 LLPS ​ ​ 18,865 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 18,865 Total ​ $ 359,781 ​ $ — ​ $ (825) ​ $ — ​ $ (395) ​ $ 358,561 ​ (a) The goodwill amount for all periods presented is net of accumulated impairment amounts. Accumulated impairment relating to ITPS is $316.5 million as at June 30, 2021; and $317.5 million as at December 31, 2020 and December 31, 2019. Accumulated impairment relating to LLPS is $243.4 million as at June 30, 2021, December 31, 2020 and December 31, 2019.

Long-Term Debt and Credit Facil

Long-Term Debt and Credit Facilities	6 Months Ended
	Jun. 30, 2021
Long-Term Debt and Credit Facilities
Long-Term Debt and Credit Facilities	5. Long-Term Debt and Credit Facilities Senior Secured Notes On July 12, 2017, the Company issued $1.0 billion in aggregate principal amount of 10.0% First Priority Senior Secured Notes due 2023 (the “Notes”). The Notes are guaranteed by certain subsidiaries of the Company. The Notes bear interest at a rate of 10.0% per year. The Company pays interest on the Notes on January 15 and July 15 of each year, commencing on January 15, 2018. The Notes will mature on July 15, 2023. Senior Credit Facilities On July 12, 2017, the Company entered into a First Lien Credit Agreement (“Credit Agreement” or “First Lien Credit Agreement”) with Royal Bank of Canada, Credit Suisse AG, Cayman Islands Branch, Natixis, New York Branch and KKR Corporate Lending LLC providing Exela Intermediate LLC, a wholly owned subsidiary of the Company, upon the terms and subject to the conditions set forth in the Credit Agreement, (i) a $350.0 million senior secured term loan maturing July 12, 2023 with an original issue discount of $7.0 million, and (ii) a $100.0 million senior secured revolving facility maturing July 12, 2022. As of June 30, 2021 and December 31, 2020, the Company had outstanding irrevocable letters of credit totaling approximately $16.5 million and $19.5 million, respectively, under the senior secured revolving facility. The Credit Agreement provided for the following interest rates for borrowings under the senior secured term facility and senior secured revolving facility: at the Company’s option, either (1) an adjusted LIBOR, subject to a 1.0% floor in the case of term loans, or (2) a base rate, in each case plus an applicable margin. The initial applicable margin for the senior secured term facility was 7.5% with respect to LIBOR borrowings and 6.5% with respect to base rate borrowings. The initial applicable margin for the senior secured revolving facility was 7.0% with respect to LIBOR borrowings and 6.0% with respect to base rate borrowings. The applicable margin for borrowings under the senior secured revolving facility is subject to step-downs based on leverage ratios. The senior secured term loan is subject to amortization payments, commencing on the last day of the first full fiscal quarter of the Company following the closing date, of 0.6% of the aggregate principal amount for each of the first eight payments and 1.3 % of the aggregate principal amount for payments thereafter, with any balance due at maturity. Term Loan Repricing On July 13, 2018, Exela repriced the $343.4 million of term loans outstanding under its senior secured credit facilities (the “Repricing”). The Repricing was accomplished pursuant to a First Amendment to the First Lien Credit Agreement (the “First Amendment”), dated as of July 13, 2018, by and among the Company’s subsidiaries Exela Intermediate Holdings LLC, Exela Intermediate, LLC, each “Subsidiary Loan Party” listed on the signature pages thereto, Royal Bank of Canada, as administrative agent, and each of the lenders party thereto, whereby the Company borrowed $343.4 million of refinancing term loans (the “Repricing Term Loans”) to refinance the Company’s existing senior secured term loans. ​ In accordance with ASC 470 – Debt – Modifications and Extinguishments, ​ The Repricing Term Loans bear interest at a rate per annum of, at the Company’s option, either (a) a LIBOR rate determined by reference to the costs of funds for Eurodollar deposits for the interest period relevant to such borrowing, adjusted for certain additional costs, subject to a 1.0% floor, or (b) a base rate determined by reference to the highest of (i) the federal funds rate plus 0.5%, (ii) the prime rate and (iii) the one-month adjusted LIBOR plus 1.0%, in each case plus an applicable margin of 6.5% for LIBOR loans and 5.5% for base rate loans. The interest rates applicable to the Repricing Term Loans are 100 2018 Incremental Term Loans On July 13, 2018, the Company borrowed an additional $30.0 million pursuant to incremental term loans (the “Incremental Term Loans”) under the First Amendment. The proceeds of the Incremental Term Loans were used by the Company for general corporate purposes and to pay fees and expenses in connection with the First Amendment. The interest rates applicable to the Incremental Term Loans are the same as those for the Repricing Term Loans. ​ The Company may voluntarily repay the Repricing Term Loans and the Incremental Term Loans (collectively, the “Term Loans”) at any time, without prepayment premium or penalty, subject to customary “breakage” costs with respect to LIBOR rate loans. The Incremental Term Loans will mature on July 12, 2023, the same maturity date as the Repricing Term Loans and prior senior secured term loans. ​ Other than as described above, the terms, conditions and covenants applicable to the Repricing Term Loans and the Incremental Term Loans are consistent with the terms, conditions and covenants that were applicable to the existing senior secured loans under the Credit Agreement. 2019 Incremental Term Loan On April 16, 2019, the Company borrowed an additional $30.0 million pursuant to incremental term loans (the “2019 Incremental Term Loans”) under the Second Amendment to First Lien Credit Agreement (the “Second Amendment”). The proceeds of the 2019 Incremental Term Loans were used to replace the cash spent for acquisitions, pay related fees, expenses and related borrowings and for general corporate purposes. The 2019 Incremental Term Loans will mature on July 12, 2023, the same maturity date as the Incremental Term Loans, Repricing Term Loans and prior senior secured term loans under the Credit Agreement. The 2019 Incremental Term Loans bear interest at a rate per annum that is the same as the Company’s Repricing Term Loans under the senior credit facility. The 2019 Incremental Term Loans will mature on July 12, 2023, the same maturity date as the Term Loans. The Company may voluntarily repay the 2019 Incremental Term Loans at any time, without prepayment premium or penalty, subject to customary “breakage” costs with respect to LIBOR rate loans. Other than as described above, the terms, conditions and covenants applicable to the 2019 Incremental Term Loans are consistent with the terms, conditions and covenants that are applicable to the Repricing Term Loans and 2018 Incremental Term Loans under the Credit Agreement. The Repricing and issuance of the 2018 and 2019 Incremental Term Loans resulted in a partial debt extinguishment, for which Exela recognized $1.4 million in debt extinguishment costs during the year ended December 31, 2019. Third Amendment On May 18, 2020, the Company amended the Credit Agreement (the Third Amendment to First Lien Credit Agreement (the “Third Amendment”) to, among other things, extend the time for delivery of its audited financial statements for the year ended December 31, 2019 and its financial statements for the quarter ended March 31, 2020. Upon the Company’s delivery of the annual and quarterly financial statements within the time frames stated therein (which the Company satisfied during the month of June 2020), the Company became in compliance with respect to the financial statement delivery requirements set forth in the Credit Agreement. Pursuant to the Third Amendment, the Company also amended the Credit Agreement to, among other things: restrict the borrower and its subsidiaries’ ability to designate or invest in unrestricted subsidiaries; incur certain debt; create certain liens; make certain investments; pay certain dividends or other distributions on account of its equity interests; make certain asset sales or other dispositions (or utilize the proceeds of certain asset sales to reinvest in the business); or enter into certain affiliate transactions pursuant to the negative covenants under the Credit Agreement. Further, pursuant to the amendment, the borrower under the Credit Agreement is also required to maintain a minimum Liquidity (as defined in the amendment) of $35.0 million. In connection with this amendment, the Company paid a forbearance fee of $5 million to the consenting lenders. The Company concluded that the amendment represents modification of debt under ASC 470-50. Accordingly, the forbearance fee paid was added to unamortized debt issuance cost which shall be amortized using updated effective interest rate based on modified cash flows. Securitization Facilities ​ On January 10, 2020, certain subsidiaries of the Company entered into the $160.0 million A/R Facility with a five year term. In the A/R Facility, (i) Exela Receivables 1, LLC (the “A/R Borrower”), a wholly-owned indirect subsidiary of the Company, entered into a Loan and Security Agreement (the “A/R Loan Agreement”), dated as of January 10, 2020, with TPG Specialty Lending, Inc., as administrative agent (the “A/R Administrative Agent”), PNC Bank National Association, as LC Bank (the “A/R LC Bank”), the lenders (each, an “A/R Lender” and collectively the “A/R Lenders”) and the Company, as initial servicer, pursuant to which the A/R Lenders made loans (the “A/R Loan”) to the A/R Borrower used to purchase certain receivables and related assets from its sole member, Exela Receivables Holdco, LLC (the “A/R Parent SPE”), a wholly-owned indirect subsidiary of the Company, (ii) sixteen other indirect, wholly-owned U.S. subsidiaries of the Company (collectively, the “A/R Originators”) sold or contributed to the A/R Parent SPE certain receivables and related assets in consideration for a combination of cash, equity in the A/R Parent SPE and/or letters of credit issued by the A/R LC Bank to the A/R Originators; and (iii) the A/R Parent SPE sold or contributed to the Borrower certain receivables and related assets in consideration for a combination of cash, equity in the A/R Borrower and/or letters of credit issued by the LC Bank to the beneficiaries elected by A/R Parent SPE. The Company used the proceeds of the initial borrowings under the A/R Facility to repay outstanding revolving borrowings under the Company’s senior credit facility and to provide additional liquidity and funding for the ongoing business needs of the Company and its subsidiaries. The A/R Borrower and A/R Parent SPE were formed in December 2019, and are identified as variable interest entities (“VIEs”) and consolidated into the Company’s financial statements following variable interest entities (“VIE”) consolidation model under ASC 810. The A/R Borrower and A/R Parent SPE are bankruptcy remote entities and as such their assets are not available to creditors of the Company or any of its subsidiaries. Since January 10, 2020, the parties amended and waived the A/R Facility several times to address contractually, the occurrence of certain events, including among other things, the delay in delivery of annual financial statements for the fiscal year ended 2019, financial statements for the quarter ended March 31, 2020, and the Initial Servicer’s Liquidity (as defined in the A/R Facility) falling below $60.0 million. In connection with these amendments a forbearance fee of $4.8 million was due and added to the outstanding principal balance of the loans. The Company concluded that the amendment represented modification of debt under ASC 470-50. Accordingly, the forbearance fee paid was added to unamortized debt issuance cost and amortized ratably over the remaining term of the A/R facility. Each loan under the A/R Facility originally bore interest on the unpaid principal amount as follows: (1) if a Base Rate Loan, at 3.75% plus a rate equal to the greater of (a) the Prime Rate in effect on such day, (b) the Federal Funds Effective Rate in effect on such day plus 0.50%, (c) the Adjusted LIBOR Rate (calculated based upon an Interest Period of one month and determined on a daily basis) plus 1.00%, and (d) 4.50% per annum and (2) if a LIBOR Rate Loan, 4.75% plus a floating LIBOR Rate with a 1.00% LIBOR floor. In connection with the above described amendments to the A/R Facility, the applicable margin of the Base Rate Loans was increased to 5.75% and the LIBOR Rate Loans was increased to 6.75%. On December 17, 2020, the Company repaid in full the loans outstanding under the A/R Facility. The aggregate outstanding principal amount of loans under the A/R Facility as of such date was approximately $83.0 million. The early termination of the A/R Facility triggered an early termination fee of $0.8 million and required repayment of approximately $0.5 million in respect of principal, accrued interest and fees. All obligations under the A/R Facility (other than contingent indemnification obligations that expressly survive termination) terminated upon repayment. The A/R Facility was replaced by the Securitization Facility as described below. Repayment of A/R Facility was treated as an extinguishment of debt under ASC 470-50. Accordingly, the Company wrote off the unamortized balance of $8.2 million of debt issuance costs related to A/R facility. On December 17, 2020, certain subsidiaries of Company closed on the $145.0 million Securitization Facility with a five year term. Borrowings under the Securitization Facility are subject to an improved borrowing base definition over the A/R Facility that consists of receivables and, subject to contribution, further supported by inventory and intellectual property, in each case, subject to certain eligibility criteria, concentration limits and reserves. The Securitization Facility provided for an initial funding of approximately $92.0 million supported by the receivables portion of the borrowing base and, subject to contribution, a further funding of approximately $53.0 million supported by inventory and intellectual property. On December 17, 2020 the Company made the initial borrowing of approximately $92.0 million under the Securitization Facility and used a portion of the proceeds to repay the A/R Facility and used the remaining proceeds for general corporate purposes. On April 11, 2021, the Company amended the Securitization Loan Agreement and agreed to, among other things, extend the option to access further funding of approximately $53.0 million in additional borrowings from April 10, 2021 to September 30, 2021 upon the contribution of inventory and intellectual property to support the borrowing base. The initial documentation for the Securitization Facility includes (i) a Loan and Security Agreement (the “Securitization Loan Agreement”), dated as of December 10, 2020, by and among Exela Receivables 3, LLC (the “Securitization Borrower”), a wholly-owned indirect subsidiary of the Company, the lenders (each, a “Securitization Lender” and collectively the “Securitization Lenders”), Alter Domus (US), LLC, as administrative agent (the “Securitization Administrative Agent”) and the Company, as initial servicer, pursuant to which the Securitization Lenders will make loans to the Securitization Borrower to be used to purchase receivables and related assets from the Securitization Parent SPE (as defined below), (ii) a First Tier Receivables Purchase and Sale Agreement (the, dated as of December 17, 2020, by and among Exela Receivables 3 Holdco, LLC (the “Securitization Parent SPE”), a wholly-owned indirect subsidiary of the Company, and certain other indirect, wholly-owned subsidiaries of the Company listed therein (collectively, the “Securitization Originators”), and the Company, as initial servicer, pursuant to which each Securitization Originator has sold or contributed and will sell or contribute to the Securitization Parent SPE certain receivables and related assets in consideration for a combination of cash and equity in the Securitization Parent SPE, (iii) a Second Tier Receivables Purchase and Sale Agreement, dated as of December 17, 2020, by and among, the Securitization Borrower, the Securitization Parent SPE and the Company, as initial servicer, pursuant to which Securitization Parent SPE has sold or contributed and will sell or contribute to the Securitization Borrower certain receivables and related assets in consideration for a combination of cash and equity in the Securitization Borrower, (iv) the Sub-Servicing Agreement, dated as of December 17, 2020, by and among the Company and each Securitization Originator, (v) the Pledge and Guaranty, dated as of the December 10, 2020, between the Securitization Parent SPE and the Administrative Agent, and (vi) the Performance Guaranty, dated as of December 17, 2020, between the Company, as performance guarantor, and the Securitization Administrative Agent (and together with all other certificates, instruments, UCC financing statements, reports, notices, agreements and documents executed or delivered in connection with the Securitization Loan Agreement, the “Securitization Agreements”). The Securitization Borrower, the Company, the Securitization Parent SPE and the Securitization Originators provide customary representations and covenants under the Securitization Agreements. The Securitization Loan Agreement provides for certain events of default upon the occurrence of which the Securitization Administrative Agent may declare the facility’s termination date to have occurred and declare the outstanding Securitization Loan and all other obligations of the Securitization Borrower to be immediately due and payable, however the Securitization Facility does not include an ongoing liquidity covenant like the A/R Facility and aligns reporting obligations with the Company’s other material indebtedness agreements. The Securitization Borrower and Securitization Parent SPE were formed in December 2020, and are identified as VIEs and consolidated into the Company’s financial statements following VIE consolidation model under ASC 810. The Securitization Borrower and Securitization Parent SPE are bankruptcy remote entities and as such their assets are not available to creditors of the Company or any of its subsidiaries. Each loan under the Securitization Facility bears interest on the unpaid principal amount as follows: (i) if a Base Rate Loan, at a rate per annum equal to (x) the greatest of (a) the Prime Rate in effect on such day, (b) the Federal Funds Effective Rate in effect on such day plus Long-Term Debt Outstanding As of June 30, 2021 and December 31, 2020, the following long-term debt instruments were outstanding: ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2021 2020 Other (a) $ 32,022 ​ ​ 37,653 Term loan under first lien credit agreement (b) ​ 337,403 ​ ​ 343,597 Senior secured notes (c) ​ 986,981 ​ ​ 984,216 Secured borrowings under Securitization Facility ​ 91,947 ​ ​ 91,947 Revolver ​ 83,488 ​ ​ 80,543 Total debt ​ 1,531,841 ​ ​ 1,537,956 Less: Current portion of long-term debt ​ (34,778) ​ ​ (39,952) Long-term debt, net of current maturities $ 1,497,063 ​ $ 1,498,004 ​ (a) Other debt represents outstanding loan balances associated with various hardware, software purchases, maintenance and leasehold improvements along with loans and receivables factoring arrangement entered into by subsidiaries of the Company. (b) Net of unamortized original issue discount and debt issuance costs of $ 3.9 million and $13.9 million as of June 30, 2021 and $4.8 million and $17.1 million as of December 31, 2020. (c) Net of unamortized debt discount and debt issuance costs of $ 9.3 million and $3.7 million as of June 30, 2021 and $11.3 million and $4.5 million as of December 31, 2020 .

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2021
Income Taxes
Income Taxes	6. Income Taxes The Company applies an estimated annual effective tax rate (“ETR”) approach for calculating a tax provision for interim periods, as required under GAAP. The Company recorded an income tax expense of $2.0 million and $0.7 million for the three months ended June 30, 2021 and 2020, respectively. The Company recorded an income tax expense of $2.0 million and $3.1 million for the six months ended June 30, 2021 and 2020, respectively. ​ The Company's ETR of (11.6%) and (3.5%) for the three and six months ended June 30, 2021 differed from the expected U.S. statutory tax rate of 21.0% and was primarily impacted by permanent tax adjustments, state and local current expense, foreign operations, and valuation allowances, including valuation allowances on a portion of the Company’s deferred tax assets on U.S. disallowed interest expense carryforwards created by the provisions of The Tax Cuts and Jobs Act (“TCJA”). For the three and six months ended June 30, 2020, the Company’s ETR of ( 1.4% ) and ( 5.4% ) differed from the expected U.S. statutory tax rate of 21.0% , and was primarily impacted by permanent tax adjustments, state and local current expense, foreign operations, and valuation allowances, including valuation allowances on a portion of the Company’s U.S. disallowed interest expense carryforwards created by the provisions of the TCJA. As of June 30, 2021, there were no material changes to either the nature or the amounts of the uncertain tax positions previously determined for the year ended December 31, 2020.

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
	Jun. 30, 2021
Employee Benefit Plans
Employee Benefit Plans	7. Employee Benefit Plans ​ German Pension Plan The Company’s subsidiary in Germany provides pension benefits to certain retirees. Employees eligible for participation include all employees who started working for the Company or its predecessors prior to September 30, 1987 and have finished a qualifying period of at least 10 years. The Company accrues the cost of these benefits over the service lives of the covered employees based on an actuarial calculation. The Company uses a December 31 measurement date for this plan. The German pension plan is an unfunded plan and therefore has no plan assets. No new employees are registered under this plan and the participants who are already eligible to receive benefits under this plan are no longer employees of the Company. U.K. Pension Plan The Company’s subsidiary in the United Kingdom provides pension benefits to certain retirees and eligible dependents. Employees eligible for participation include all full-time regular employees who were more than three years from retirement prior to October 2001. A retirement pension or a lump-sum payment may be paid dependent upon length of service at the mandatory retirement age. The Company accrues the cost of these benefits over the service lives of the covered employees based on an actuarial calculation. The Company uses a December 31 measurement date for this plan. No new employees are registered under this plan and the pension obligation for the existing participants of the plan is calculated based on actual salary of the participants as at the earlier of two dates, the participants leaving the Company or December 31, 2015. Norway Pension Plan The Company’s subsidiary in Norway provides pension benefits to eligible retirees and eligible dependents. Employees eligible for participation include all employees who were more than three years from retirement prior to March 2018. The Company accrues the cost of these benefits over the service lives of the covered employees based on an actuarial calculation. The Company uses a December 31 measurement date for this plan. No new employees are registered under this plan and the pension obligation for the existing participants of the plan is calculated based on actual salary of the participants as at the later of two dates, the participants leaving the Company or April 30, 2018. Asterion Pension Plan In April 2018 through its acquisition of Asterion International Group the Company became obligated to provide pension benefits to eligible retirees and eligible dependents of Asterion. Employees eligible for participation include all full-time regular employees who were more than three years from retirement prior to July 2003. A retirement pension or a lump-sum payment may be paid dependent upon length of service at the mandatory retirement age. The Company accrues the cost of these benefits over the service lives of the covered employees based on an actuarial calculation. The Company uses a December 31 measurement date for this plan. No new employees are registered under this plan and the pension obligation for the existing participants of the plan is calculated based on actual salary of the participants as at the earlier of two dates, the participants leaving the Company or April 10, 2018. Tax Effect on Accumulated Other Comprehensive Loss As of June 30, 2021 and December 31, 2020 the Company recorded actuarial losses of $17.3 million and $17.1 million in accumulated other comprehensive loss on the condensed consolidated balance sheets, respectively, which is net of a deferred tax benefit of $2.0 million for each period. Pension Expense The components of the net periodic benefit cost are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ​ 2021 2020 2021 2020 Service cost ​ $ 19 ​ $ 19 ​ $ 38 ​ $ 38 Interest cost ​ ​ 427 ​ ​ 490 ​ ​ 854 ​ ​ 980 Expected return on plan assets ​ ​ (609) ​ ​ (634) ​ ​ (1,218) ​ ​ (1,268) Amortization: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization of prior service cost ​ ​ 45 ​ ​ 25 ​ ​ 90 ​ ​ 50 Amortization of net loss ​ ​ 843 ​ ​ 426 ​ ​ 1,686 ​ ​ 852 Net periodic benefit cost ​ $ 725 ​ $ 326 ​ $ 1,450 ​ $ 652 ​ The Company records pension interest cost within Interest expense, net. Expected return on plan assets, amortization of prior service costs, and amortization of net losses are recorded within Other income, net. Service cost is recorded within Cost of revenue. Employer Contributions The Company’s funding of employer contributions is based on governmental requirements and differs from those methods used to recognize pension expense. The Company made contributions of $1.8 million and $1.2 million to its pension plans during the six months ended June 30, 2021 and 2020, respectively. The Company has funded the pension plans with the required contributions for 2021 based on current plan provisions.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies
Commitments and Contingencies	8. Commitments and Contingencies Appraisal Action On September 21, 2017, former stockholders of SourceHOV Holdings, Inc. (“SourceHOV”), who owned 10,304 shares of SourceHOV common stock, filed a petition for appraisal pursuant to 8 Del. C. § 262 in the Delaware Court of Chancery (the “Court”), captioned Manichaean Capital, LLC, et al. v. SourceHOV Holdings, Inc., C.A. No. 2017 0673 JRS (the “Appraisal Action”). The Appraisal Action arose out of a preliminary transaction in connection with the acquisition of SourceHOV and Novitex Holdings, Inc., by Quinpario in July 2017 (“Novitex Business Combination”), and the petitioners sought, among other things, a determination of the fair value of their SourceHOV shares at the time of the Novitex Business Combination; an order that SourceHOV pay that value to the petitioners, together with interest at the statutory rate; and an award of costs, attorneys’ fees, and other expenses. During the trial the parties and their experts offered competing valuations of the SourceHOV shares as of the date of the Novitex Business Combination. SourceHOV argued the value was no more than SourceHOV appealed the judgment in the Appraisal Action on June 30, 2020. On January 22, 2021, the Delaware Supreme Court affirmed the judgment of the Delaware Court of Chancery in favor of the petitioners. To date, SourceHOV has paid The petitioners have filed additional actions to recognize the judgment against SourceHOV, an action alleging unjust enrichment and seeking restitution and to pierce the corporate veil and seek alter ego liability against Exela Technologies, Inc. and over 50 alleged subsidiaries and/or affiliates in an attempt to collect the award in the Appraisal Action from entities other than SourceHOV, and an action against SourceHOV and certain of its directors and officers alleging creditor derivative claims relating to the Company’s securitization facilities. In early February 2021, petitioners also filed a motion for a preliminary injunction in the derivative action in which they sought a court order to force Exela to set aside sufficient assets for SourceHOV to pay the potential judgment in the derivative action prior to paying other creditors or, in the alternative, to pay all creditors, including the creditors of SourceHOV, on a pari passu As a result of the Appraisal Action and following repayment of the Margin Loan by Ex-Sigma 2, LLC (“Ex-Sigma 2”) 1,523,578 shares of our Common Stock issued to Ex-Sigma 2, our largest shareholder following the Novitex Business Combination, were returned to the Company during the first quarter of 2020. As of June 30, 2021, the Company has an accrued liability of $61.1 million for the Appraisal Action based on the judgment received on January 30, 2020 plus accrued interest, which is management’s best estimate of the total payment obligation as of such date. Adverse Arbitration Order ​ In April 2020, one of the Company's Nordic subsidiaries commenced an arbitration in Finland against a customer alleging breach of contract and other damages in connection with an outsourcing services agreement and transition services agreement executed in 2017. In September 2020, the customer submitted counterclaims against the Company in an aggregate amount in excess of €10.0 million. Following an expedited arbitration, in late November 2020, the arbitrator awarded the customer approximately $13.0 million in the aggregate for the counterclaimed damages and costs. The Company filed an application to annul the award in late January 2021 with the relevant court asserting, among other bases, that the arbitrator violated due process and procedural rules by disallowing the Company’s witness and expert testimony and maintaining the expedited format following the assertion of significant counterclaims which would ordinarily have required the application of normal rather than expedited rules. On May 28, 2021, the parties entered into a settlement agreement resolving this dispute for a total of $8.8 million including the reimbursement of certain third party charges. The Company had accrued a liability balance of $9.7 million for this matter as of the settlement date. Accordingly, on settlement the Company reversed the additional $0.9 million accrued for the matter. As of June 30, 2021, there was a net outstanding balance of $4.4 million included in Accrued liabilities on the Condensed Consolidated Balance Sheet. Contract-Related Contingencies The Company has certain contingent obligations that arise in the ordinary course of providing services to its customers. These contingencies are generally the result of contracts that require the Company to comply with certain performance measurements or the delivery of certain services to customers by a specified deadline. The Company believes the adjustments to the transaction price, if any, under these contract provisions will not result in a significant revenue reversal or have a material adverse effect on the Company’s consolidated balance sheets, consolidated statements of operations or consolidated statements of cash flows.

Fair Value Measurement

Fair Value Measurement	6 Months Ended
	Jun. 30, 2021
Fair Value Measurement
Fair Value Measurement	9. Fair Value Measurement Assets and Liabilities Measured at Fair Value The carrying amount of assets and liabilities including cash and cash equivalents, accounts receivable, accounts payable and current portion of long-term debt approximated their fair value as of June 30, 2021, and December 31, 2020, due to the relative short maturity of these instruments. Management estimates the fair values of the secured term loan and secured notes at approximately 67.0% and 64.8% respectively, of the respective principal balance outstanding as of June 30, 2021. The fair values of secured borrowings under the Company’s securitization facility and senior secured revolving credit facility are equal to the respective carrying values. Other debt represents the Company's outstanding loan balances associated with various hardware, software purchases, maintenance and leasehold improvements along with loans and receivables factoring arrangement entered into by subsidiaries of the Company and as such, the cost incurred required to be re-measured to fair value on a recurring basis. These assets are evaluated for impairment if certain triggering The Company determined the fair value of its long-term debt using Level 2 inputs including the recent issue of the debt, the Company’s credit rating, and the current risk-free rate. The Company’s contingent liabilities related to prior acquisitions are re-measured each period and represent a Level 3 measurement as it is based on the settlement amount based on the settlement agreement terms less amount already paid. The Company determined the fair value of the interest rate swap using Level 2 inputs. The Company used closing prices as provided by a third party institution. The following table provides the carrying amounts and estimated fair values of the Company’s financial instruments as of June 30, 2021, and December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ Fair ​ Fair Value Measurements As of June 30, 2021 Amount Value Level 1 Level 2 Level 3 Recurring assets and liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Long-term debt ​ $ 1,497,063 ​ $ 1,058,114 ​ $ — ​ $ 1,058,114 ​ $ — Nonrecurring assets and liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill ​ ​ 358,561 ​ ​ 358,561 ​ ​ — ​ ​ — ​ ​ 358,561 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ Fair ​ Fair Value Measurements As of December 31, 2020 Amount Value Level 1 Level 2 Level 3 Recurring assets and liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Long-term debt ​ $ 1,498,004 ​ $ 604,775 ​ $ — ​ $ 604,775 ​ $ — Interest rate swap liability ​ ​ 125 ​ ​ 125 ​ ​ — ​ ​ 125 ​ ​ — Acquisition contingent liability ​ ​ 300 ​ ​ 300 ​ ​ — ​ ​ — ​ ​ 300 Nonrecurring assets and liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill ​ ​ 359,781 ​ ​ 359,781 ​ ​ — ​ ​ — ​ ​ 359,781 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2021 2020 Balance as of Beginning of Period ​ $ 300 ​ $ 721 Earn-out Adjustment ​ ​ — ​ ​ 279 Payments ​ ​ (300) ​ ​ (700) Balance as of End of Period ​ $ — ​ $ 300 ​

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2021
Stock-Based Compensation
Stock-Based Compensation	10. Stock-Based Compensation Exela 2018 Stock Incentive Plan On January 17, 2018, Exela’s 2018 Stock Incentive Plan (the “2018 Plan”) became effective. The 2018 Plan provides for the grant of incentive and nonqualified stock options, restricted stock, restricted stock units, stock appreciation rights, performance awards, and other stock-based compensation to eligible participants. The Company is authorized to issue up to 2,774,588 shares of Common Stock under the 2018 Plan. Restricted Stock Unit Grants Restricted stock unit awards generally vest ratably over a one A summary of RSU activity under the 2018 Plan for the six months ended June 30, 2021 is summarized in the following table: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ ​ ​ Weighted ​ Remaining ​ ​ ​ ​ Number ​ Average Grant ​ Contractual Life ​ Aggregate ​ of Shares Date Fair Value (Years) Intrinsic Value Outstanding Balance as of December 31, 2020 ​ 26,455 ​ $ 3.78 0.91 ​ $ 50 Granted 688,344 ​ 2.70 ​ ​ ​ ​ ​ Forfeited (11,667) ​ 2.73 ​ ​ ​ ​ ​ Vested (13,227) ​ 13.48 ​ ​ ​ ​ ​ Outstanding Balance as of June 30, 2021 ​ 689,905 ​ $ 2.67 0.64 ​ $ 1,875 ​ Options Under the 2018 Plan, stock options are granted at a price per share not less than 100% of the fair market value per share of the underlying stock at the grant date. The vesting period for each option award is established on the grant date, and the options generally expire 10 years from the grant date. Options granted under the 2018 Plan generally require no less than a two ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ ​ ​ Weighted ​ Weighted ​ Remaining ​ ​ ​ ​ ​ ​ ​ Average Grant ​ Average ​ Vesting Period ​ Aggregate ​ Outstanding Date Fair Value Exercise Price (Years) Intrinsic Value (2) Outstanding Balance as of December 31, 2020 ​ 1,635,700 $ 5.67 $ 11.89 1.42 $ — Granted — ​ — ​ ​ ​ ​ ​ ​ ​ Exercised — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ Forfeited (123,107) ​ ​ 5.90 ​ ​ ​ ​ ​ ​ ​ ​ Expired ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ Outstanding Balance as of June 30, 2021 (1) 1,512,593 $ 5.65 $ 11.86 1.03 $ — ​ (1) 352,280 of the outstanding options are exercisable as of June 30, 2021. (2) Exercise prices of all of the outstanding options are higher than the market price of the shares of the Company. Therefore, aggregate intrinsic value is zero. As of June 30, 2021, there was approximately $3.0 million of total unrecognized compensation expense related to non-vested awards for the 2018 Plan, which will be recognized over the respective service period. Stock-based compensation expense is recorded within Selling, general, and administrative expenses. The Company incurred total compensation expense of $0.6 million and $1.0 million related to plan awards for the three and six months ended June 30, 2021, respectively, and $0.9 million and $1.8 million related to plan awards for the three and six months ended June 30, 2020, respectively.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2021
Stockholders' Equity
Stockholders' Equity	11. Stockholders’ Equity The following description summarizes the material terms and provisions of the securities that the Company has authorized. Common Stock The Company is authorized to issue 1,600,000,000 shares of Common Stock. Except as otherwise required by law or as otherwise provided in any certificate of designation for any series of preferred stock or as provided for in the Director Nomination Agreement to which the Company is party, the holders of our Common Stock possess all voting power for the election of our board of directors and all other matters requiring stockholder action and will at all times vote together as one class on all matters submitted to a vote of Exela stockholders. Holders of our Common Stock are entitled to one vote per share on matters to be voted on by stockholders. Holders of our Common Stock will be entitled to receive such dividends and other distributions, if any, as may be declared from time to time by the board of directors in its discretion out of funds legally available therefor and shall share equally on a per share basis in such dividends and distributions. The holders of the Common Stock have no conversion, preemptive or other subscription rights and there are no sinking fund or redemption provisions applicable to the Common Stock. During the six months ended June 30, 2021, 511,939 shares of Series A Preferred Stock were converted into 223,977 shares of Common Stock. As of June 30, 2021 and December 31, 2020, there were 70,409,282 and 49,242,225 shares of Common Stock outstanding, respectively. Reverse Stock Split On January 25, 2021, we effected a one issued Common Stock At-The-Market Sales Program On May 27, 2021, the Company entered into an At Market Issuance Sales Agreement (“ATM Agreement”) with B. Riley Securities, Inc. (“B. Riley”) and Cantor Fitzgerald & Co. (“Cantor”), as distribution agents (the “Distribution Agents”) under which the Company may offer and sell shares of the Company’s Common Stock from time to time through the Distribution Agents, acting as sales agent or principal. Sales of the shares of Common Stock under the ATM Agreement, will be in “at the market offerings” as defined in Rule 415 under the Securities Act, including, without limitation, sales made directly on or through the Nasdaq or on any other existing trading market for the Common Stock, as applicable, or to or through a market maker or any other method permitted by law, including, without limitation, negotiated transactions and block trades. Shares of Common Stock sold under the ATM Agreement are offered pursuant to the Company’s Registration Statement on Form S-3 (File No. 333-255707), filed with the Securities and Exchange Commission (the “SEC”) on May 3, 2021, and declared effective on May 12, 2021 (the “2021 Registration Statement”), and the prospectus dated May 12, 2021 included in the 2021 Registration Statement and the related prospectus supplement for sales of shares of Common Stock with an aggregate offering price of up to $100.0 million dated May 27, 2021 (“Common ATM Program–1”) and prospectus supplement for sales of shares of Common Stock with an aggregate offering price of up to $150.0 million dated June 30, 2021 (“Common ATM Program–2”). The Company began selling shares under the Common ATM Program-1 on May 28, 2021 and through June 30, 2021, the Company had issued 11,216,706 shares of Common Stock at a weighted average price of $1.615 per share, generating gross proceeds of $18.1 million and net proceeds of $17.4 million, after offering expenses. The ATM Agreement provides for a two-day settlement period, and during the final days of June the Company sold 70,423,099 shares of Common Stock under the Common ATM Program-1 and Common ATM Program-2 which were not issued and accordingly, the proceeds thereof were not recorded until July 2021. Preferred Stock The Company is authorized to issue 20,000,000 shares of preferred stock with such designations, voting and other rights and preferences as may be determined from time to time by the board of directors. At June 30, 2021 and December 31, 2020, the Company had 2,778,111 shares and 3,290,050 shares of Series A Preferred Stock outstanding, respectively. The par value of the Series A Preferred Stock is $0.0001 per share. Each share of Series A Preferred Stock is convertible at the holder's option, at any time into the number of shares of Common Stock determined as of the date of conversion using a certain conversion formula that takes into account the amount of Liquidation Preference per share as adjusted for accrued but unpaid dividends, as described below. As of June 30, 2021, after taking into account the effect of the Reverse Stock Split, each outstanding share of Series A Preferred Stock was convertible into 0.4484 shares of Common Stock using this conversion formula. Accordingly, as of June 30, 2021, 1,245,758 shares of Common Stock were issuable upon conversion of the remaining 2,778,111 shares of Series A Preferred Stock. Holders of the Series A Preferred Stock are entitled to receive cumulative dividends at a rate per annum of 10% of the dollar amount of per share liquidation preference (plus accumulated but unpaid dividends, the “Liquidation Preference") per share of Series A Preferred Stock, paid or accrued quarterly in arrears. From the issue date through December 31, 2020 the amount of all accrued but unpaid dividends on the Series A Preferred Stock have been added to the Liquidation Preference. The Company shall add the amount of all accrued but unpaid dividends on each quarterly dividend payment date to the Liquidation Preference, except to the extent the Company elects to make all or any portion of such payment in cash on or prior to the applicable dividend payment date, in which case, the amount of the accrued but unpaid dividends that is added to the Liquidation Preference shall be reduced on a dollar-for-dollar basis by the amount of any such cash payment. The Company is not required to make any payment or allowance for unpaid dividends, whether or not in arrears, on converted shares of Series A Preferred Stock or for dividends on the shares of Common Stock issued upon conversion of such shares . The gross dividend accumulation for the three months ended June 30, 2021 was $0.8 million. However, as a result of 511,939 shares of Series A Preferred Stock being converted into 223,413 shares of Common Stock during the six months ended June 30, 2021, accumulated dividend of $1.8 million was reversed, resulting in a net reduction of dividend accumulation of $0.1 million for the six months ended June 30, 2021. Similarly, the gross dividend accumulation for the three months ended June 30, 2020 was $0.9 million. However, as a result of 1,004,183 shares of Series A Preferred Stock being converted into 409,238 shares of Common Stock during the first quarter of 2020, accumulated dividend of $2.3 million was reversed, resulting in a net reduction of dividend accumulation of $0.6 million for the six months ended June 30, 2020. As of June 30, 2021, the total accumulated but unpaid dividends on the Series A Preferred Stock since inception on July 12, 2017 is $10.7 million. The per share average of cumulative preferred dividends for the three and six months ended June 30, 2021 is $0.3 and less than $(0.1) , respectively. The per share average of cumulative preferred dividends for the three and six months ended June 30, 2020 is $0.3 and $(0.2) , respectively Following the third anniversary of the issue date, dividends on the Series A Preferred Stock will be accrued by adding to the Liquidation Preference or paid in cash, or a combination thereof. In addition, holders of the Series A Preferred Stock will participate in any dividend or distribution of cash or other property paid in respect of the Common Stock pro rata with the holders of the Common Stock (other than certain dividends or distributions that trigger an adjustment to the conversion rate, as described in the Certificate of Designations), as if all shares of Series A Preferred Stock had been converted into Common Stock immediately prior to the date on which such holders of the Common Stock became entitled to such dividend or distribution. Treasury Stock On November 8, 2017, the Company’s board of directors authorized a share buyback program (the “Share Buyback Program”), pursuant to which the Company was permitted to purchase up to 1,666,667 shares of Common Stock. The Share Buyback Program has expired. As of June 30, 2021, 929,049 shares had been repurchased under the Share Buyback Program and they are held as treasury stock. The Company records treasury stock using the cost method. During the first quarter of 2020, 1,523,578 shares of Common Stock were returned to the Company by Ex-Sigma 2 in connection with the Appraisal Action. These shares are also included in treasury stock. Warrants At June 30, 2021, there were warrants outstanding to purchase 15,565,152 shares of our Common Stock, consisting of 35,000,000 warrants to purchase one-sixth IPO Warrants As part of its IPO, Quinpario had issued 35,000,000 units comprising one share of Common Stock and one warrant of which 34,986,302 have been separated from the original unit and 13,698 warrants remain an unseparated part of the originally issued units (the Common Stock included in these originally issued units (adjusted to reflect the Reverse Split) have been accounted for in the number of shares of Common Stock outstanding referred to above). The warrants traded on the OTC Pink under the symbol “XELAW” as of June 30, 2021. Each IPO warrant entitles the holder to purchase one-sixth The Company may call the IPO warrants for redemption at a price of $0.01 per warrant upon a minimum of 30 days ’ prior written notice of redemption, if, and only if, the last sales price of the shares of Common Stock equals or exceeds $72.00 per share for any 20 trading days within a 30 trading day period (the “30-day trading period”) ending three business days before the Company sends the notice of redemption, and if, and only if, there is a current registration statement in effect with respect to the shares of Common Stock underlying such warrants commencing five business days prior to the 30-day trading period and continuing each day thereafter until the date of redemption. ​ Private Placement of Unregistered Shares and Warrants ​ On March 15, 2021, the Company, entered into a securities purchase agreement with certain accredited institutional investors pursuant to which the Company issued and sold to the ten accredited institutional investors in a private placement an aggregate of 9,731,819 unregistered shares of the Company’s Common Stock at a price of $2.75 per share and an equal number of warrants, generating gross proceeds to the Company of $26.8 million. Cantor Fitzgerald acted as underwriter in connection with such sale of unregistered securities and received a placement fee of 5.5 % of gross proceeds in connection with such service. In selling the shares without registration, the Company relied on exemptions from registration available under Section 4(a)(2) of the Securities Act of 1933 and Rule 506 promulgated thereunder. The shares of Common Stock sold together with these warrants are included in the Company’s calculation of total shares outstanding. The Company filed a registration statement on Form S-3 on May 3, 2021 that registered these shares and the shares underlying these private placement warrants. Each private placement warrant entitles the holder to purchase one share of Common Stock, will be exercisable at an exercise price of $4.00 per share beginning on September 19, 2021 and will expire on September 19, 2026. The private placement warrants are not traded as of June 30, 2021 and are not subject to redemption by the Company.

Related-Party Transactions

Related-Party Transactions	6 Months Ended
	Jun. 30, 2021
Related-Party Transactions
Related-Party Transactions	12. Related-Party Transactions Relationship with HandsOn Global Management The Company incurred reimbursable travel expenses to HOVS LLC and HandsOn Fund 4 I, LLC (collectively, together with certain affiliated entities controlled by HandsOn Global Management LLC, “HGM”) of less than $0.1 million for each of the three months ended June 30, 2021 and 2020 and less than $0.1 million for each of the six months ended June 30, 2021 and 2020. As of June 30, 2021, HGM beneficially owned approximately 35% of the Company’s Common Stock, including shares controlled pursuant to voting agreements (as described below) and shares issuable upon conversion of Series A Preferred Stock. Pursuant to a master agreement dated January 1, 2015 between Rule 14, LLC and a subsidiary of the Company, the Company incurs marketing fees to Rule 14, LLC, a portfolio company of HGM. Similarly, the Company is party to ten master agreements with entities affiliated with HGM’s managed funds, each of which were entered into during 2015 and 2016. Each master agreement provides the Company with use of certain technology and includes a reseller arrangement pursuant to which the Company is entitled to sell these services to third parties. Any revenue earned by the Company in such third-party sale is shared 75%/25% with each of HGM’s venture affiliates in favor of the Company. The brands Zuma, Athena, Peri, BancMate, Spring, Jet, Teletype, CourtQ and Rewardio are part of the HGM managed funds. The Company has the license to use and resell such brands, as described therein. The Company incurred fees relating to these agreements of $1.6 million and $0.4 million for the three months ended June 30, 2021 and 2020, respectively. The Company incurred fees relating to these agreements of $2.7 million and $0.8 million for the six months ended June 30, 2021 and 2020, respectively. Certain operating companies lease their operating facilities from HOV RE, LLC and HOV Services Limited, which are affiliates under common control with HGM. The rental expense for these operating leases was less than $0.1 million for each of the three months ended June 30, 2021 and 2020, and $0.1 million for each of the six months ended June 30, 2021 and 2020. In addition, HOV Services, Ltd. provides the Company data capture and technology services. The expense recognized for these services was approximately $0.3 million and $0.4 million for the three months ended June 30, 2021 and 2020, respectively, and $0.6 million and $0.8 million for the six months ended June 30, 2021 and 2020, respectively. These expenses are included in cost of revenue in the consolidated statements of operations. The Company is obligated to reimburse certain reimbursable expenses incurred by Ex-Sigma 2, the former majority shareholder of the Company, under the terms of the Consent, Waiver and Amendment dated June 15, 2017, by and among the Company, Quinpario Merger Sub I, Inc., Quinpario Merger Sub II, Inc., SourceHOV, Novitex, Novitex Parent, L.P., Ex Sigma LLC (“Ex-Sigma”), HOVS LLC and HandsOn Fund 4 I, LLC, amending the Novitex Business Combination agreement (the “Consent, Waiver and Amendment”). The Company incurred reimbursable expenses to Ex-Sigma 2 of less than $0.1 million and $0.2 million for the three and six months ended June 30, 2020, respectively, in connection with legal expenses of Ex-Sigma 2. There were no such reimbursable expenses incurred during the three and six months ended June 30, 2021. Ex-Sigma 2 distributed the shares held by it during the first quarter of 2020 and is no longer a shareholder of Exela. Many recipients of these shares have entered into voting agreements in respect of those shares with HGM. Separately, the Company determined it was obligated to reimburse premium payments of $6.9 million made by Ex-Sigma 2 on the Margin Loan under the terms of the Consent, Waiver and Amendment. Pursuant to a written settlement agreement entered into in June 2020, Ex-Sigma, SourceHOV and the Company agreed that $5.6 million of payments made during the fourth quarter of 2019 would be accepted to fully discharge the Company’s obligation to reimburse Ex-Sigma 2 for the $6.9 million of premium payments. The Company recorded the difference of $1.3 million between the obligation amount and the settlement amount as an increase to additional paid in capital in the condensed consolidated statements of stockholders’ deficit for the three months ended June 30, 2020. Consulting Agreement The Company receives services from Oakana Holdings, Inc. The Company and Oakana Holdings, Inc. are related through a family relationship between certain shareholders and the president of Oakana Holdings, Inc. The expense recognized for these services was less than $0.1 million for each of the three months ended June 30, 2021 and 2020, and $0.1 million for each of the six months ended June 30, 2021 and 2020. Relationship with Apollo Global Management, LLC The Company provides services to and receives services from certain Apollo Global Management, LLC (“Apollo”) affiliated companies. Funds managed by Apollo held the second largest position in our Common Stock following the Novitex Business Combination and had the right to designate two of the Company’s directors pursuant to a director nomination agreement. Apollo has announced that its affiliated funds ceased being shareholders on March 11, 2020. The Company excluded disclosure of transactions related to Apollo after March 31, 2020 as the related party relationship with Apollo ceased during the first quarter of 2020. On November 18, 2014, one of the Company's subsidiaries entered into a master services agreement with an indirect wholly owned subsidiary of Apollo. Pursuant to this master services agreement, the Company provided printer supplies and maintenance services, including toner maintenance, training, quarterly business review and printer procurement. The Company recognized revenue of less than $0.1 million under this agreement for the six months ended June 30, 2020 in its consolidated statements of operations. In April 2016, one of the Company’s subsidiaries entered into a master services agreement with Presidio Networked Solutions Group, LLC ("Presidio Group"), a wholly owned subsidiary of Presidio, Inc., a portion of which is owned by affiliates of Apollo. Pursuant to this master services agreement, Presidio Group provided the Company with employees, subcontractors, and/or goods and services. For the six months ended June 30, 2020 there were related party expenses of $0.2 million. On January 18, 2017, one of the Company’s subsidiaries entered into a master purchase and professional services agreement with Caesars Enterprise Services, LLC (‘‘Caesars’’). Caesars is controlled by investment funds affiliated with Apollo. Pursuant to this master purchase and professional services agreement, the Company provided managed print services to Caesars, including general equipment operation, supply management, support services and technical support. The Company recognized revenue of $0.9 million for the six three months ended June 30, 2020 in its consolidated statements of operations. On May 5, 2017, one of the Company’s subsidiaries entered into a master services agreement with ADT LLC. ADT LLC is controlled by investment funds affiliated with Apollo. Pursuant to this master services agreement, the Company provided ADT LLC with mailroom and onsite mail delivery services at an ADT LLC office location and managed print services, including supply management, equipment maintenance and technical support services. The Company recognized revenue of $0.3 million under this master services agreement for the six months ended June 30, 2020 in its consolidated statements of operations. On July 20, 2017, one of the Company’s subsidiaries entered into a master services agreement with Diamond Resorts Centralized Services Company. Diamond Resorts Centralized Services Company is controlled by investment funds affiliated with Apollo. Pursuant to this master services agreement, the Company provided commercial print and promotional product procurement services to Diamond Resorts Centralized Services Company, including sourcing, inventory management and fulfillment services. The Company recognized revenue of $0.9 million and cost of revenue of less than $0.1 million under this master services agreement for the six months ended June 30, 2020 in its consolidated statements of operations. Payable and Receivable/Prepayment Balances with Affiliates ​ Payable and receivable/prepayment balances with affiliates as of June 30, 2021 and December 31, 2020 are as follows below. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2021 December 31, 2020 ​ ​ Receivables and ​ Payables ​ Receivables and ​ Payables HOV Services, Ltd ​ $ 712 ​ $ — ​ $ 711 ​ $ — Rule 14 ​ ​ — ​ ​ 456 ​ ​ — ​ ​ 44 HGM ​ ​ — ​ ​ 32 ​ ​ — ​ ​ 52 Oakana ​ ​ — ​ ​ 1 ​ ​ — ​ ​ 1 ​ ​ $ 712 ​ $ 489 ​ $ 711 ​ $ 97 ​

Segment and Geographic Area Inf

Segment and Geographic Area Information	6 Months Ended
	Jun. 30, 2021
Segment and Geographic Area Information
Segment and Geographic Area Information	13. Segment and Geographic Area Information ​ The Company’s operating segments are significant strategic business units that align its products and services with how it manages its business, approaches the markets and interacts with its clients. The Company is organized into three segments: ITPS, HS, and LLPS. ITPS: HS: LLPS: The chief operating decision maker reviews segment profit to evaluate operating segment performance and determine how to allocate resources to operating segments. “Segment profit” is defined as revenue less cost of revenue (exclusive of depreciation and amortization). The Company does not allocate Selling, general, and administrative expenses, depreciation and amortization, interest expense and sundry, net. The Company manages assets on a total company basis, not by operating segment, and therefore asset information and capital expenditures by operating segments are not presented. A reconciliation of segment profit to net loss before income taxes is presented below. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, 2021 ​ ITPS HS LLPS Total Revenue ​ $ 217,260 ​ $ 56,204 ​ $ 19,545 ​ $ 293,009 Cost of revenue (exclusive of depreciation and amortization) ​ 156,669 ​ 38,973 ​ 13,438 ​ 209,080 Segment profit ​ ​ 60,591 ​ ​ 17,231 ​ ​ 6,107 ​ ​ 83,929 Selling, general and administrative expenses (exclusive of depreciation and amortization) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 36,390 Depreciation and amortization ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 19,420 Related party expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2,748 Interest expense, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 42,867 Sundry income, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (787) Other expense, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 651 Net loss before income taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ $ (17,360) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, 2020 ​ ITPS HS LLPS Total Revenue ​ $ 243,029 ​ $ 49,166 ​ $ 15,527 ​ $ 307,722 Cost of revenue (exclusive of depreciation and amortization) ​ 195,835 ​ 36,148 ​ 9,805 ​ 241,788 Segment profit ​ ​ 47,194 ​ ​ 13,018 ​ ​ 5,722 ​ ​ 65,934 Selling, general and administrative expenses (exclusive of depreciation and amortization) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 47,014 Depreciation and amortization ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 22,847 Related party expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1,146 Interest expense, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 44,440 Sundry income, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (899) Other income, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (584) Net loss before income taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ $ (48,030) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended June 30, 2021 ​ ITPS HS LLPS Total Revenue ​ $ 449,135 ​ $ 107,297 ​ $ 36,633 ​ $ 593,065 Cost of revenue (exclusive of depreciation and amortization) ​ ​ 342,171 ​ ​ 74,791 ​ ​ 24,705 ​ ​ 441,667 Segment profit ​ ​ 106,964 ​ ​ 32,506 ​ ​ 11,928 ​ ​ 151,398 Selling, general and administrative expenses (exclusive of depreciation and amortization) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 78,275 Depreciation and amortization ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 39,019 Related party expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 4,455 Interest expense, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 85,998 Sundry income, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (574) Other expense, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 803 Net loss before income taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ (56,578) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended June 30, 2020 ​ ITPS HS LLPS Total Revenue ​ $ 527,140 ​ $ 113,216 ​ $ 32,817 ​ $ 673,173 Cost of revenue (exclusive of depreciation and amortization) ​ ​ 430,954 ​ ​ 81,078 ​ ​ 22,294 ​ ​ 534,326 Segment profit ​ ​ 96,186 ​ ​ 32,138 ​ ​ 10,523 ​ ​ 138,847 Selling, general and administrative expenses (exclusive of depreciation and amortization) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 97,387 Depreciation and amortization ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 46,032 Related party expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2,698 Interest expense, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 86,028 Sundry expense, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 183 Other income, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (35,241) Net loss before income taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ (58,240) ​

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2021
Subsequent Events
Subsequent Events	14. Subsequent Events ​ The Company has evaluated all events that occur after the balance sheet date through the date when these condensed consolidated financial statements were issued to determine if they must be reported. ​ Common Stock At-The-Market Sales Program In July 2021, we issued an aggregate of 38,207,000 shares of Common Stock at a weighted average price of $2.124 per share, generating gross proceeds of $81.1 million and net proceeds of $78.3 million, after offering expenses to culminate the Common ATM Program–1. During July 2021 we also issued 35,425,041 shares of Common Stock under the Common ATM Program–2 at a weighted average price of $2.762 per share, generating gross proceeds of $97.9 million and net proceeds of $94.2 million, after offering expenses. ​ Debt Buyback In July 2021, the Company repurchased $19.0 million principal amount of Notes and $40.1 million principal amount of senior secured loans under the Credit Agreement.

Summary of Significant Accounti

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
Significant Accounting Policies
Revenue Recognition	Revenue Recognition We account for revenue in accordance with ASC 606, Revenue from Contracts with Customers Nature of Services Our primary performance obligations are to stand ready to provide various forms of business processing services, consisting of a series of distinct services, but that are substantially the same, and have the same pattern of transfer over time, and accordingly are combined into a single performance obligation. Our promise to our customers is typically to perform an unknown or unspecified quantity of tasks and the consideration received is contingent upon the customers’ use (i.e., number of transactions processed, requests fulfilled, etc.); as such, the total transaction price is variable. We allocate the variable fees to the single performance obligation charged to the distinct service period in which we have the contractual right to bill under the contract. Disaggregation of Revenues The Company is organized into three segments: Information & Transaction Processing Solutions (“ITPS”), Healthcare Solutions (“HS”), and Legal & Loss Prevention Services (“LLPS”) (See Note 13). The following tables disaggregate revenue from contracts by segment and by geographic region for the three and six months ended June 30, 2021 and 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ ​ 2021 ​ 2020 ​ ​ ​ ITPS    ​ ​ HS    ​ ​ LLPS    ​ ​ Total    ​ ​ ITPS    ​ ​ HS    ​ ​ LLPS    ​ ​ Total U.S.A. $ 162,491 ​ $ 56,204 ​ $ 19,545 ​ $ 238,240 ​ $ 190,775 ​ $ 49,166 ​ $ 15,527 $ 255,468 EMEA ​ 49,892 ​ — ​ — ​ 49,892 ​ 47,084 ​ — ​ — ​ 47,084 Other ​ 4,877 ​ — ​ — ​ 4,877 ​ 5,170 ​ — ​ — ​ 5,170 Total $ 217,260 ​ $ 56,204 ​ $ 19,545 ​ $ 293,009 ​ $ 243,029 ​ $ 49,166 $ 15,527 $ 307,722 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30, ​ ​ 2021 ​ 2020 ​ ​ ITPS    ​ ​ HS    ​ ​ LLPS    ​ ​ Total    ​ ​ ITPS    ​ ​ HS    ​ ​ LLPS    ​ ​ Total U.S.A. $ 335,414 ​ $ 107,297 ​ $ 36,633 ​ $ 479,344 ​ $ 414,163 ​ $ 113,216 ​ $ 32,817 ​ $ 560,196 EMEA ​ 104,101 ​ — ​ — ​ 104,101 ​ ​ 100,990 ​ — ​ — ​ ​ 100,990 Other ​ 9,620 ​ — ​ — ​ 9,620 ​ ​ 11,987 ​ — ​ — ​ ​ 11,987 Total $ 449,135 ​ $ 107,297 ​ $ 36,633 ​ $ 593,065 ​ $ 527,140 ​ $ 113,216 $ 32,817 $ 673,173 ​ Contract Balances The following table presents contract assets, contract liabilities and contract costs recognized at June 30, 2021 and December 31, 2020: ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ ​ 2021 ​ 2020 Accounts receivable, net ​ $ 201,929 ​ $ 206,868 Deferred revenues ​ 21,173 ​ 16,919 Customer deposits ​ 15,269 ​ 21,277 Costs to obtain and fulfill a contract ​ 2,790 ​ 3,295 ​ Accounts receivable, net includes $25.3 million and $23.2 million as of June 30, 2021 and December 31, 2020, respectively, representing amounts not yet billed to customers. We have accrued the unbilled receivables for work performed in accordance with the terms of contracts with customers. Deferred revenues relate to payments received in advance of performance under a contract. A significant portion of this balance relates to maintenance contracts or other service contracts where we received payments for upfront conversions or implementation activities which do not transfer a service to the customer but rather are used in fulfilling the related performance obligations that transfer over time. The advance consideration received from customers is deferred over the contract term. We recognized revenue of $11.8 million during the six months ended June 30, 2021 that had been deferred as of December 31, 2020. Costs incurred to obtain and fulfill contracts are deferred and presented as part of intangible assets, net and expensed on a straight-line basis over the estimated benefit period. We recognized $0.8 million of amortization for these costs for the six months ended June 30, 2021 within depreciation and amortization expense. These costs represent incremental external costs or certain specific internal costs that are directly related to the contract acquisition or fulfillment and can be separated into two principal categories: contract commissions and fulfillment costs. Applying the practical expedient in ASC 340-40-25-4, we recognize the incremental costs of obtaining contracts as an expense when incurred if the amortization period would have been one year or less. These costs are included in Selling, general and administrative expenses. The effect of applying this practical expedient was not material. Customer deposits consist primarily of amounts received from customers in advance for postage. These advanced postage deposits are used to cover the costs associated with postage, with the corresponding postage revenue being recognized as services are performed. Performance Obligations At the inception of each contract, we assess the goods and services promised in our contracts and identify each distinct performance obligation. The majority of our contracts have a single performance obligation, as the promise to transfer the individual goods or services is not separately identifiable from other promises in the contracts. For the majority of our business and transaction processing service contracts, revenues are recognized as services are provided based on an appropriate input or output method, typically based on the related labor or transactional volumes. ​ A certain number of our contracts have multiple performance obligations, including contracts that combine software implementation services with post-implementation customer support. For contracts with multiple performance obligations, we allocate the contract’s transaction price to each performance obligation using our best estimate of the standalone selling price of each distinct good or service in the contract. The primary method used to estimate standalone selling price is the expected cost plus a margin approach, under which we estimate our expected costs of satisfying a performance obligation and add an appropriate margin for that distinct good or service. We also use the adjusted market approach whereby we estimate the price that customers in the market would be willing to pay. In assessing whether to allocate variable consideration to a specific part of the contract, we consider the nature of the variable payment and whether it relates specifically to its efforts to satisfy a specific part of the contract. A certain number of our software implementation performance obligations are satisfied at a point in time, typically when customer acceptance is obtained. ​ When evaluating the transaction price, we analyze, on a contract-by-contract basis, all applicable variable consideration. The nature of our contracts give rise to variable consideration, including volume discounts, contract penalties, and other similar items that generally decrease the transaction price. We estimate these amounts based on the expected amount to be provided to customers and reduce revenues recognized. We do not anticipate significant changes to our estimates of variable consideration. ​ We include reimbursements from customers, such as postage costs, in revenue, while the related costs are included in cost of revenue. Transaction Price Allocated to the Remaining Performance Obligations In accordance with optional exemptions available under ASC 606, we did not disclose the value of unsatisfied performance obligations for (a) contracts with an original expected length of one year or less, and (b) contracts for which variable consideration relates entirely to an unsatisfied performance obligation, which comprise the majority of our contracts. We have certain non-cancellable contracts where we receive a fixed monthly fee in exchange for a series of distinct services that are substantially the same and have the same pattern of transfer over time, with the corresponding remaining performance obligations as of June 30, 2021 in each of the future periods below: ​ ​ ​ ​ ​ Estimated Remaining Fixed Consideration for Unsatisfied ​ ​ ​ Remainder of 2021 ​ $ 26,468 2022 ​ 37,762 2023 ​ 31,696 2024 ​ 28,258 2025 ​ 27,748 2026 and thereafter ​ 302 Total $ 152,234

General (Tables)

General (Tables)	6 Months Ended
	Jun. 30, 2021
General
Schedule of components of basic and diluted EPS	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ​ 2021 2020 2021 2020 Net loss attributable to common stockholders (A) ​ $ (20,165) ​ $ (49,549) ​ $ (58,469) ​ $ (60,778) Weighted average common shares outstanding - basic and diluted (B) ​ ​ 61,474,020 ​ ​ 49,169,556 ​ ​ 56,090,162 ​ ​ 49,117,306 Loss Per Share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted (A/B) ​ $ (0.33) ​ $ (1.01) ​ $ (1.04) ​ $ (1.24)

Significant Accounting Polici_2

Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2021
Significant Accounting Policies
Schedule of disaggregated revenue from contracts by geographic region and by segment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ ​ 2021 ​ 2020 ​ ​ ​ ITPS    ​ ​ HS    ​ ​ LLPS    ​ ​ Total    ​ ​ ITPS    ​ ​ HS    ​ ​ LLPS    ​ ​ Total U.S.A. $ 162,491 ​ $ 56,204 ​ $ 19,545 ​ $ 238,240 ​ $ 190,775 ​ $ 49,166 ​ $ 15,527 $ 255,468 EMEA ​ 49,892 ​ — ​ — ​ 49,892 ​ 47,084 ​ — ​ — ​ 47,084 Other ​ 4,877 ​ — ​ — ​ 4,877 ​ 5,170 ​ — ​ — ​ 5,170 Total $ 217,260 ​ $ 56,204 ​ $ 19,545 ​ $ 293,009 ​ $ 243,029 ​ $ 49,166 $ 15,527 $ 307,722 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six Months Ended June 30, ​ ​ 2021 ​ 2020 ​ ​ ITPS    ​ ​ HS    ​ ​ LLPS    ​ ​ Total    ​ ​ ITPS    ​ ​ HS    ​ ​ LLPS    ​ ​ Total U.S.A. $ 335,414 ​ $ 107,297 ​ $ 36,633 ​ $ 479,344 ​ $ 414,163 ​ $ 113,216 ​ $ 32,817 ​ $ 560,196 EMEA ​ 104,101 ​ — ​ — ​ 104,101 ​ ​ 100,990 ​ — ​ — ​ ​ 100,990 Other ​ 9,620 ​ — ​ — ​ 9,620 ​ ​ 11,987 ​ — ​ — ​ ​ 11,987 Total $ 449,135 ​ $ 107,297 ​ $ 36,633 ​ $ 593,065 ​ $ 527,140 ​ $ 113,216 $ 32,817 $ 673,173
Schedule of contract balances	​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, December 31, ​ ​ 2021 ​ 2020 Accounts receivable, net ​ $ 201,929 ​ $ 206,868 Deferred revenues ​ 21,173 ​ 16,919 Customer deposits ​ 15,269 ​ 21,277 Costs to obtain and fulfill a contract ​ 2,790 ​ 3,295 ​
Schedule of estimated remaining fixed consideration for unsatisfied performance obligations	​ ​ ​ ​ ​ Estimated Remaining Fixed Consideration for Unsatisfied ​ ​ ​ Remainder of 2021 ​ $ 26,468 2022 ​ 37,762 2023 ​ 31,696 2024 ​ 28,258 2025 ​ 27,748 2026 and thereafter ​ 302 Total $ 152,234

Intangibles Assets and Goodwi_2

Intangibles Assets and Goodwill (Tables)	6 Months Ended
	Jun. 30, 2021
Intangibles Assets and Goodwill
Schedule of intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2021 ​ ​ Gross Carrying ​ Accumulated ​ Intangible ​ Amount (a) Amortization Asset, net Customer relationships ​ $ 508,524 ​ $ (297,259) ​ $ 211,265 Developed technology ​ ​ 88,553 ​ ​ (87,361) ​ ​ 1,192 Trade names (b) ​ ​ 8,400 ​ ​ (3,100) ​ ​ 5,300 Outsource contract costs ​ ​ 16,598 ​ ​ (13,808) ​ ​ 2,790 Internally developed software ​ ​ 48,040 ​ ​ (24,030) ​ ​ 24,010 Assembled workforce ​ ​ 4,473 ​ ​ (2,796) ​ ​ 1,677 Purchased software ​ ​ 26,749 ​ ​ (4,458) ​ ​ 22,291 Intangibles, net ​ $ 701,337 ​ $ (432,812) ​ $ 268,525 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2020 ​ ​ Gross Carrying ​ Accumulated ​ Intangible ​ Amount (a) Amortization Asset, net Customer relationships ​ $ 508,485 ​ $ (278,306) ​ $ 230,179 Developed technology ​ ​ 88,553 ​ ​ (87,111) ​ ​ 1,442 Trade names (b) ​ ​ 8,400 ​ ​ (3,100) ​ ​ 5,300 Outsource contract costs ​ ​ 16,331 ​ ​ (13,036) ​ ​ 3,295 Internally developed software ​ ​ 47,182 ​ ​ (20,152) ​ ​ 27,030 Assembled workforce ​ ​ 4,473 ​ ​ (2,237) ​ ​ 2,236 Purchased software ​ ​ 26,749 ​ ​ (3,567) ​ ​ 23,182 Intangibles, net ​ $ 700,173 ​ $ (407,509) ​ $ 292,664 ​ (a) Amounts include intangible assets acquired in business combinations and asset acquisitions. (b) The carrying amount of trade names for 2021 and 2020 is net of accumulated impairment losses of $44.1 million. Carrying amount of $5.3 million as at June 30, 2021 represents indefinite-lived intangible asset.
Schedule of goodwill by reporting segment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balances as at January 1, 2020 (a) ​ ​ Additions ​ ​ Deletions ​ ​ Impairments ​ ​ Currency Translation Adjustments ​ ​ Balances as at December 31, 2020 (a) ITPS ​ $ 254,120 ​ $ — ​ $ — ​ $ — ​ $ 10 ​ $ 254,130 HS ​ ​ 86,786 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 86,786 LLPS ​ ​ 18,865 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 18,865 Total ​ $ 359,771 ​ $ — ​ $ — ​ $ — ​ $ 10 ​ $ 359,781 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Balances as at January 1, 2021 (a) ​ ​ Additions ​ ​ Deletions ​ ​ Impairments ​ ​ Currency Translation Adjustments ​ ​ Balances as at June 30, 2021 (a) ITPS ​ $ 254,130 ​ $ — ​ $ (825) ​ $ — ​ $ (395) ​ $ 252,910 HS ​ ​ 86,786 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 86,786 LLPS ​ ​ 18,865 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 18,865 Total ​ $ 359,781 ​ $ — ​ $ (825) ​ $ — ​ $ (395) ​ $ 358,561 ​ (a) The goodwill amount for all periods presented is net of accumulated impairment amounts. Accumulated impairment relating to ITPS is $316.5 million as at June 30, 2021; and $317.5 million as at December 31, 2020 and December 31, 2019. Accumulated impairment relating to LLPS is $243.4 million as at June 30, 2021, December 31, 2020 and December 31, 2019.

Long-Term Debt and Credit Fac_2

Long-Term Debt and Credit Facilities (Tables)	6 Months Ended
	Jun. 30, 2021
Long-Term Debt and Credit Facilities
Schedule of outstanding long-term debt instruments	​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2021 2020 Other (a) $ 32,022 ​ ​ 37,653 Term loan under first lien credit agreement (b) ​ 337,403 ​ ​ 343,597 Senior secured notes (c) ​ 986,981 ​ ​ 984,216 Secured borrowings under Securitization Facility ​ 91,947 ​ ​ 91,947 Revolver ​ 83,488 ​ ​ 80,543 Total debt ​ 1,531,841 ​ ​ 1,537,956 Less: Current portion of long-term debt ​ (34,778) ​ ​ (39,952) Long-term debt, net of current maturities $ 1,497,063 ​ $ 1,498,004 ​ (a) Other debt represents outstanding loan balances associated with various hardware, software purchases, maintenance and leasehold improvements along with loans and receivables factoring arrangement entered into by subsidiaries of the Company. (b) Net of unamortized original issue discount and debt issuance costs of $ 3.9 million and $13.9 million as of June 30, 2021 and $4.8 million and $17.1 million as of December 31, 2020. (c) Net of unamortized debt discount and debt issuance costs of $ 9.3 million and $3.7 million as of June 30, 2021 and $11.3 million and $4.5 million as of December 31, 2020 .

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2021
Employee Benefit Plans
Schedule of components of the net periodic benefit cost	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three Months Ended June 30, ​ Six Months Ended June 30, ​ 2021 2020 2021 2020 Service cost ​ $ 19 ​ $ 19 ​ $ 38 ​ $ 38 Interest cost ​ ​ 427 ​ ​ 490 ​ ​ 854 ​ ​ 980 Expected return on plan assets ​ ​ (609) ​ ​ (634) ​ ​ (1,218) ​ ​ (1,268) Amortization: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Amortization of prior service cost ​ ​ 45 ​ ​ 25 ​ ​ 90 ​ ​ 50 Amortization of net loss ​ ​ 843 ​ ​ 426 ​ ​ 1,686 ​ ​ 852 Net periodic benefit cost ​ $ 725 ​ $ 326 ​ $ 1,450 ​ $ 652 ​

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	6 Months Ended
	Jun. 30, 2021
Fair Value Measurement
Schedule of fair value of financial instruments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ Fair ​ Fair Value Measurements As of June 30, 2021 Amount Value Level 1 Level 2 Level 3 Recurring assets and liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Long-term debt ​ $ 1,497,063 ​ $ 1,058,114 ​ $ — ​ $ 1,058,114 ​ $ — Nonrecurring assets and liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill ​ ​ 358,561 ​ ​ 358,561 ​ ​ — ​ ​ — ​ ​ 358,561 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Carrying ​ Fair ​ Fair Value Measurements As of December 31, 2020 Amount Value Level 1 Level 2 Level 3 Recurring assets and liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Long-term debt ​ $ 1,498,004 ​ $ 604,775 ​ $ — ​ $ 604,775 ​ $ — Interest rate swap liability ​ ​ 125 ​ ​ 125 ​ ​ — ​ ​ 125 ​ ​ — Acquisition contingent liability ​ ​ 300 ​ ​ 300 ​ ​ — ​ ​ — ​ ​ 300 Nonrecurring assets and liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Goodwill ​ ​ 359,781 ​ ​ 359,781 ​ ​ — ​ ​ — ​ ​ 359,781
Schedule of net assets and liabilities classified as Level 3 for reconciliation	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, ​ December 31, ​ 2021 2020 Balance as of Beginning of Period ​ $ 300 ​ $ 721 Earn-out Adjustment ​ ​ — ​ ​ 279 Payments ​ ​ (300) ​ ​ (700) Balance as of End of Period ​ $ — ​ $ 300

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2021
Stock-Based Compensation
Summary of the status of restricted stock units	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ ​ ​ Weighted ​ Remaining ​ ​ ​ ​ Number ​ Average Grant ​ Contractual Life ​ Aggregate ​ of Shares Date Fair Value (Years) Intrinsic Value Outstanding Balance as of December 31, 2020 ​ 26,455 ​ $ 3.78 0.91 ​ $ 50 Granted 688,344 ​ 2.70 ​ ​ ​ ​ ​ Forfeited (11,667) ​ 2.73 ​ ​ ​ ​ ​ Vested (13,227) ​ 13.48 ​ ​ ​ ​ ​ Outstanding Balance as of June 30, 2021 ​ 689,905 ​ $ 2.67 0.64 ​ $ 1,875
Schedule of stock option activity	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Average ​ ​ ​ ​ ​ ​ ​ Weighted ​ Weighted ​ Remaining ​ ​ ​ ​ ​ ​ ​ Average Grant ​ Average ​ Vesting Period ​ Aggregate ​ Outstanding Date Fair Value Exercise Price (Years) Intrinsic Value (2) Outstanding Balance as of December 31, 2020 ​ 1,635,700 $ 5.67 $ 11.89 1.42 $ — Granted — ​ — ​ ​ ​ ​ ​ ​ ​ Exercised — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ Forfeited (123,107) ​ ​ 5.90 ​ ​ ​ ​ ​ ​ ​ ​ Expired ​ — ​ ​ — ​ ​ ​ ​ ​ ​ ​ ​ Outstanding Balance as of June 30, 2021 (1) 1,512,593 $ 5.65 $ 11.86 1.03 $ — ​ (1) 352,280 of the outstanding options are exercisable as of June 30, 2021. (2) Exercise prices of all of the outstanding options are higher than the market price of the shares of the Company. Therefore, aggregate intrinsic value is zero.

Related-Party Transactions (Tab

Related-Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2021
Related-Party Transactions
Schedule of payable and receivable balances with affiliates	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ June 30, 2021 December 31, 2020 ​ ​ Receivables and ​ Payables ​ Receivables and ​ Payables HOV Services, Ltd ​ $ 712 ​ $ — ​ $ 711 ​ $ — Rule 14 ​ ​ — ​ ​ 456 ​ ​ — ​ ​ 44 HGM ​ ​ — ​ ​ 32 ​ ​ — ​ ​ 52 Oakana ​ ​ — ​ ​ 1 ​ ​ — ​ ​ 1 ​ ​ $ 712 ​ $ 489 ​ $ 711 ​ $ 97

Segment and Geographic Area I_2

Segment and Geographic Area Information (Tables)	6 Months Ended
	Jun. 30, 2021
Segment and Geographic Area Information
Schedule of reconciliation of segment profit to net loss before income taxes by segment information	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, 2021 ​ ITPS HS LLPS Total Revenue ​ $ 217,260 ​ $ 56,204 ​ $ 19,545 ​ $ 293,009 Cost of revenue (exclusive of depreciation and amortization) ​ 156,669 ​ 38,973 ​ 13,438 ​ 209,080 Segment profit ​ ​ 60,591 ​ ​ 17,231 ​ ​ 6,107 ​ ​ 83,929 Selling, general and administrative expenses (exclusive of depreciation and amortization) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 36,390 Depreciation and amortization ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 19,420 Related party expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2,748 Interest expense, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 42,867 Sundry income, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (787) Other expense, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 651 Net loss before income taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ $ (17,360) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Three months ended June 30, 2020 ​ ITPS HS LLPS Total Revenue ​ $ 243,029 ​ $ 49,166 ​ $ 15,527 ​ $ 307,722 Cost of revenue (exclusive of depreciation and amortization) ​ 195,835 ​ 36,148 ​ 9,805 ​ 241,788 Segment profit ​ ​ 47,194 ​ ​ 13,018 ​ ​ 5,722 ​ ​ 65,934 Selling, general and administrative expenses (exclusive of depreciation and amortization) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 47,014 Depreciation and amortization ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 22,847 Related party expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 1,146 Interest expense, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 44,440 Sundry income, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (899) Other income, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (584) Net loss before income taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ $ (48,030) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended June 30, 2021 ​ ITPS HS LLPS Total Revenue ​ $ 449,135 ​ $ 107,297 ​ $ 36,633 ​ $ 593,065 Cost of revenue (exclusive of depreciation and amortization) ​ ​ 342,171 ​ ​ 74,791 ​ ​ 24,705 ​ ​ 441,667 Segment profit ​ ​ 106,964 ​ ​ 32,506 ​ ​ 11,928 ​ ​ 151,398 Selling, general and administrative expenses (exclusive of depreciation and amortization) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 78,275 Depreciation and amortization ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 39,019 Related party expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 4,455 Interest expense, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 85,998 Sundry income, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (574) Other expense, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 803 Net loss before income taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ (56,578) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Six months ended June 30, 2020 ​ ITPS HS LLPS Total Revenue ​ $ 527,140 ​ $ 113,216 ​ $ 32,817 ​ $ 673,173 Cost of revenue (exclusive of depreciation and amortization) ​ ​ 430,954 ​ ​ 81,078 ​ ​ 22,294 ​ ​ 534,326 Segment profit ​ ​ 96,186 ​ ​ 32,138 ​ ​ 10,523 ​ ​ 138,847 Selling, general and administrative expenses (exclusive of depreciation and amortization) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 97,387 Depreciation and amortization ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 46,032 Related party expense ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2,698 Interest expense, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 86,028 Sundry expense, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 183 Other income, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (35,241) Net loss before income taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ $ (58,240)

General - Going Concern (Detail

General - Going Concern (Details) - USD ($) $ in Millions	1 Months Ended	6 Months Ended
	Jul. 31, 2021	Jun. 30, 2021
Proceeds From Equity Financings		$ 44.9
Subsequent Events
Proceeds From Equity Financings	$ 179

General - Net Loss per Share (D

General - Net Loss per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	Mar. 18, 2021	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020	Mar. 31, 2020
Net loss per share
Common Stock, par value (in dollars per share)		$ 0.0001		$ 0.0001		$ 0.0001
Anti dilutive shares				2,202,498	1,667,582
Net loss attributable to common stockholders		$ (20,165)	$ (49,549)	$ (58,469)	$ (60,778)
Weighted average common shares outstanding - basic and diluted		61,474,020	49,169,556	56,090,162	49,117,306
Basic and diluted (in dollars per share)		$ (0.33)	$ (1.01)	$ (1.04)	$ (1.24)
Common stock, shares returned							1,523,578
Series A Preferred Stock
Net loss per share
Number of anti-dilutive shares excluded from computation of diluted loss per share				1,245,758
Warrants
Net loss per share
Number of anti-dilutive shares excluded from computation of diluted loss per share				35,000,000
Warrants | Private Placement
Net loss per share
Number of anti-dilutive shares excluded from computation of diluted loss per share	9,731,819

General - Sale of Non-Core Asse

General - Sale of Non-Core Assets (Details) - USD ($) $ in Millions	Jul. 22, 2020	Mar. 16, 2020	Mar. 31, 2020
SourceHOV
Membership interests		$ 40
Gain on sale of investments			$ 35.5
Adjustment of purchase consideration			$ 2
Physical Records Storage Business | Disposed of by sale not discontinued operations
Proceeds from sale of business	$ 12.3

Significant Accounting Polici_3

Significant Accounting Policies - Disaggregation of Revenues (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)segment	Jun. 30, 2020USD ($)
Disaggregation of Revenues
Number of segments | segment			3
Revenue	$ 293,009	$ 307,722	$ 593,065	$ 673,173
United States
Disaggregation of Revenues
Revenue	238,240	255,468	479,344	560,196
EMEA
Disaggregation of Revenues
Revenue	49,892	47,084	104,101	100,990
Other
Disaggregation of Revenues
Revenue	4,877	5,170	9,620	11,987
ITPS
Disaggregation of Revenues
Revenue	217,260	243,029	449,135	527,140
ITPS | United States
Disaggregation of Revenues
Revenue	162,491	190,775	335,414	414,163
ITPS | EMEA
Disaggregation of Revenues
Revenue	49,892	47,084	104,101	100,990
ITPS | Other
Disaggregation of Revenues
Revenue	4,877	5,170	9,620	11,987
HS
Disaggregation of Revenues
Revenue	56,204	49,166	107,297	113,216
HS | United States
Disaggregation of Revenues
Revenue	56,204	49,166	107,297	113,216
LLPS
Disaggregation of Revenues
Revenue	19,545	15,527	36,633	32,817
LLPS | United States
Disaggregation of Revenues
Revenue	$ 19,545	$ 15,527	$ 36,633	$ 32,817

Significant Accounting Polici_4

Significant Accounting Policies - Contract Balances (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Significant Accounting Policies
Accounts receivable, net	$ 201,929	$ 206,868
Deferred revenues	21,173	16,919
Customer deposits	15,269	21,277
Costs to obtain and fulfill a contract	2,790	3,295
Unbilled receivables, net	25,300	$ 23,200
Revenue recognized from deferred revenue	11,800
Amortization of contract costs	$ 800
Practical expedient on incremental costs of obtaining contracts	true

Significant Accounting Polici_5

Significant Accounting Policies - Performance Obligations (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)
Significant Accounting Policies
Contracts with an original expected length	true
Remainder of 2021	$ 26,468
2022	37,762
2023	31,696
2024	28,258
2025	27,748
2026 and thereafter	302
Total	$ 152,234

Intangibles Assets and Goodwi_3

Intangibles Assets and Goodwill - Intangibles (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Intangibles
Gross Carrying Amount	$ 701,337	$ 700,173
Amortization	(432,812)	(407,509)
Intangible Asset, net	268,525	292,664
Carrying amount of indefinite-lived trade names which are not amortizable	5,300
Customer relationships
Intangibles
Gross Carrying Amount	508,524	508,485
Amortization	(297,259)	(278,306)
Intangible Asset, net	211,265	230,179
Developed technology
Intangibles
Gross Carrying Amount	88,553	88,553
Amortization	(87,361)	(87,111)
Intangible Asset, net	1,192	1,442
Trade names
Intangibles
Gross Carrying Amount	8,400	8,400
Amortization	(3,100)	(3,100)
Intangible Asset, net	5,300	5,300
Accumulated impairment losses	44,100
Outsource contract costs
Intangibles
Gross Carrying Amount	16,598	16,331
Amortization	(13,808)	(13,036)
Intangible Asset, net	2,790	3,295
Internally developed software
Intangibles
Gross Carrying Amount	48,040	47,182
Amortization	(24,030)	(20,152)
Intangible Asset, net	24,010	27,030
Assembled workforce
Intangibles
Gross Carrying Amount	4,473	4,473
Amortization	(2,796)	(2,237)
Intangible Asset, net	1,677	2,236
Purchased software
Intangibles
Gross Carrying Amount	26,749	26,749
Amortization	(4,458)	(3,567)
Intangible Asset, net	$ 22,291	$ 23,182

Intangibles Assets and Goodwi_4

Intangibles Assets and Goodwill - Goodwill (Details) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021USD ($)segment	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Goodwill
Number of segments | segment	3
Beginning of Year Balance	$ 359,781	$ 359,771
Deletions	(825)
Currency Translation Adjustments	(395)	10
End of Year Balance	358,561	359,781
ITPS
Goodwill
Beginning of Year Balance	254,130	254,120
Deletions	(825)
Currency Translation Adjustments	(395)	10
End of Year Balance	252,910	254,130
Accumulated impairment losses	316,500	317,500	$ 317,500
HS
Goodwill
Beginning of Year Balance	86,786	86,786
End of Year Balance	86,786	86,786
LLPS
Goodwill
Beginning of Year Balance	18,865	18,865
End of Year Balance	18,865	18,865
Accumulated impairment losses	$ 243,400	$ 243,400	$ 243,400

Long-Term Debt and Credit Fac_3

Long-Term Debt and Credit Facilities - Senior Secured Notes (Details) - Senior secured notes $ in Billions	Jul. 12, 2017USD ($)
Debt instruments
Principal amount	$ 1
Interest rate (in percent)	10.00%

Long-Term Debt and Credit Fac_4

Long-Term Debt and Credit Facilities - Debt Refinancing (Details) - USD ($) $ in Millions	Jul. 12, 2017	Jun. 30, 2021	Dec. 31, 2020
Senior secured term loan
Debt instruments
Debt Instrument, Face Amount	$ 350
Original issue discount	$ 7
Principal percentage of each of first eight payments (as a percent)	0.60%
Principal percentage of each payment thereafter (as a percent)	1.30%
Senior secured term loan | LIBOR
Debt instruments
Applicable margin rate	7.50%
Floor interest rate	1.00%
Senior secured term loan | Base rate
Debt instruments
Principal percentage of each payment thereafter (as a percent)	6.50%
Senior secured revolving facility
Debt instruments
Maximum borrowing capacity	$ 100
Letters of credit outstanding		$ 16.5	$ 19.5
Senior secured revolving facility | LIBOR
Debt instruments
Principal percentage of each payment thereafter (as a percent)	7.00%
Senior secured revolving facility | Base rate
Debt instruments
Principal percentage of each payment thereafter (as a percent)	6.00%

Long-Term Debt and Credit Fac_5

Long-Term Debt and Credit Facilities - Term Loan Repricing (Details) - USD ($) $ in Thousands	Apr. 16, 2019	Jul. 13, 2018	Jun. 30, 2021	Dec. 31, 2020
Debt instruments
Outstanding amount of term loans			$ 1,531,841	$ 1,537,956
Proceeds from refinancing term loans	$ 30,000	$ 30,000
First Amendment
Debt instruments
Proceeds from refinancing term loans		$ 343,400
Reduction in interest rate (in percentage)		1.00%
First Amendment | Federal funds rate
Debt instruments
Variable interest rate (as a percent)		0.50%
First Amendment | LIBOR
Debt instruments
Floor interest rate		1.00%
Variable interest rate (as a percent)		6.50%
First Amendment | One-month adjusted LIBOR
Debt instruments
Variable interest rate (as a percent)		1.00%
First Amendment | Base rate
Debt instruments
Variable interest rate (as a percent)		5.50%
Senior secured revolving facility
Debt instruments
Outstanding amount of term loans		$ 343,400
Maximum debt issuance costs for new lenders exceeded 10% test		100
Senior secured revolving facility | First Amendment
Debt instruments
Debt issuance costs		1,000
Amortization expense of debt issuance costs		1,000
Write off of previously recognized debt issuance costs		$ 100

Long-Term Debt and Credit Fac_6

Long-Term Debt and Credit Facilities - Incremental Term Loan (Details) - USD ($) $ in Millions	Apr. 16, 2019	Jul. 13, 2018	Dec. 31, 2019
Long-Term Debt and Credit Facilities
Proceeds from incremental term loans	$ 30	$ 30
Debt extinguishment costs			$ 1.4

Long-Term Debt and Credit Fac_7

Long-Term Debt and Credit Facilities - Receivables Securitization (Details) - USD ($) $ in Thousands	Dec. 17, 2020	May 21, 2020	Jan. 10, 2020	Dec. 31, 2020	Sep. 30, 2021	Jun. 30, 2021	Jun. 30, 2020	May 18, 2018
Proceeds from initial borrowings						$ 3,000	$ 29,750
A/R Facility
Accounts Receivable from Securitization			$ 160,000
Accounts Receivable, Securitization, Term			5 years
Minimum liquidity for A/R facility			$ 60,000					$ 35,000
Forbearance fee								$ 5,000
Forbearance fee payable			$ 4,800
Variable interest rate (as a percent)			4.50%
Outstanding borrowings under the facility	$ 83,000
Early termination fee	800
Write off of previously recognized debt issuance costs	8,200
Repayment of principal, accrued interest and fees	$ 500
A/R Facility | Base rate
Variable interest rate (as a percent)		5.75%	3.75%
A/R Facility | Federal funds rate
Variable interest rate (as a percent)			0.50%
A/R Facility | One-month adjusted LIBOR
Variable interest rate (as a percent)			1.00%
A/R Facility | LIBOR
Variable interest rate (as a percent)		6.75%	4.75%
Floor interest rate			1.00%
Securitization Facility
Variable interest rate (as a percent)				8.75%
Outstanding borrowings under the facility						$ 91,900
Facility term (years)	5 years
Available facility amount	$ 145,000
Initial funding supported by receivables	92,000
Further funding supported by inventory and intellectual property	53,000
Proceeds from initial borrowings	$ 92,000
Proceeds from additional borrowings					$ 53,000
Securitization Facility | Federal funds rate
Variable interest rate (as a percent)				0.50%
Securitization Facility | One-month adjusted LIBOR
Variable interest rate (as a percent)				1.00%
Securitization Facility | LIBOR
Variable interest rate (as a percent)				9.75%

Long-Term Debt and Credit Fac_8

Long-Term Debt and Credit Facilities - Long-Term Debt Outstanding (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Debt instruments
Total debt	$ 1,531,841	$ 1,537,956
Less: Current portion of long-term debt	(34,778)	(39,952)
Long-term debt, net of current maturities	1,497,063	1,498,004
Senior secured notes
Debt instruments
Total debt	986,981	984,216
Other
Debt instruments
Total debt	32,022	37,653
First lien credit agreement
Debt instruments
Total debt	337,403	343,597
Debt discount	3,900	4,800
Unamortized debt issuance costs	13,900	17,100
Senior secured notes
Debt instruments
Debt discount	9,300	11,300
Unamortized debt issuance costs	3,700	4,500
Revolver
Debt instruments
Total debt	83,488	80,543
Securitization Facility
Debt instruments
Total debt	$ 91,947	$ 91,947

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Taxes
Income tax expense	$ 2,007	$ 661	$ 1,989	$ 3,120
Actual effective tax rate	11.60%	1.40%	3.50%	5.40%
Statutory tax rate			21.00%	21.00%

Employee Benefit Plans - German

Employee Benefit Plans - Germany & UK (Details) $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)
German Pension Plan | Unfunded Plan
Pension plans
Plan assets	$ 0
German Pension Plan | Unfunded Plan | Minimum
Pension plans
Qualifying period	10 years
U.K. Pension Plan | Minimum
Pension plans
Minimum required years prior to retirement for eligibility	3 years
Asterion Pension Plan | Minimum
Pension plans
Minimum required years prior to retirement for eligibility	3 years
Norway Pension Plan | Minimum
Pension plans
Minimum required years prior to retirement for eligibility	3 years

Employee Benefit Plans - Tax Ef

Employee Benefit Plans - Tax Effect on Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Amounts in Accumulated Other Comprehensive Loss Expected to be Recognized in Net Periodic Benefit Costs
Net actuarial loss	$ 17.3	$ 17.1
Deferred tax benefit	$ 2	$ 2

Employee Benefit Plans - Pensio

Employee Benefit Plans - Pension Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Net periodic benefit cost
Service cost	$ 19	$ 19	$ 38	$ 38
Interest cost	427	490	854	980
Expected return on plan assets	(609)	(634)	(1,218)	(1,268)
Amortization of prior service cost	45	25	90	50
Amortization of net loss	843	426	1,686	852
Net periodic benefit cost	$ 725	$ 326	1,450	652
Employer contributions			$ 1,800	$ 1,200

Commitments and Contingencies (

Commitments and Contingencies (Details) $ / shares in Units, € in Millions	May 28, 2021USD ($)	Mar. 26, 2020USD ($)	Jan. 30, 2020$ / shares	Sep. 21, 2017$ / sharesshares	Sep. 30, 2020USD ($)	Sep. 30, 2020EUR (€)	Jun. 30, 2021USD ($)	Mar. 31, 2020shares
Commitments and Contingencies
Shares returned to company | shares								1,523,578
Accrued liability							$ 61,100,000
Adverse Arbitration Order
Commitments and Contingencies
Accrued liability	$ 9,700,000						4,400,000
Amount awarded to customer					$ 13,000,000
Amount paid towards judgement	8,800,000
Accrued amount reversed for settlement	$ 900,000
Earnout sought | €						€ 10
SourceHOV
Commitments and Contingencies
Amount paid towards judgement							$ 1,800,000
SourceHOV | Petitioners
Commitments and Contingencies
Court determined fair value of stock at time of business combination (per share) | $ / shares			$ 4,591
Amount awarded to petitioners		$ 57,698,426
SourceHOV | Minimum | Petitioners
Commitments and Contingencies
Argued fair value per share | $ / shares				$ 1,633.85
SourceHOV | Maximum | Petitioners
Commitments and Contingencies
Argued fair value per share | $ / shares				$ 5,079.28
SourceHOV | Fair value guarantee | Common Stock
Commitments and Contingencies
Number of shares owned | shares				10,304
Sigma 2, LLC | Petitioners
Commitments and Contingencies
Shares returned to company | shares								1,523,578

Fair Value Measurement (Details

Fair Value Measurement (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Carrying amounts and estimated fair values of financial instruments
Goodwill	$ 358,561	$ 359,781	$ 359,771
Senior secured term loan
Assets and liabilities measured at fair value
Fair value percentage	67.00%
Senior secured notes
Assets and liabilities measured at fair value
Fair value percentage	64.80%
Level 3
Reconciliation of net assets and liabilities
Balance as of Beginning of Period	$ 300	721
Earn-out Adjustments		279
Payments	(300)	(700)
Balance as of End of Period		300
Carrying Amount | Recurring assets and liabilities
Carrying amounts and estimated fair values of financial instruments
Long-term debt	1,497,063	1,498,004
Interest rate swap liability		125
Acquisition contingent liability		300
Carrying Amount | Nonrecurring assets and liabilities
Carrying amounts and estimated fair values of financial instruments
Goodwill	358,561	359,781
Fair Value | Recurring assets and liabilities
Carrying amounts and estimated fair values of financial instruments
Long-term debt	1,058,114	604,775
Interest rate swap liability		125
Acquisition contingent liability		300
Fair Value | Recurring assets and liabilities | Level 2
Carrying amounts and estimated fair values of financial instruments
Long-term debt	1,058,114	604,775
Interest rate swap liability		125
Fair Value | Recurring assets and liabilities | Level 3
Carrying amounts and estimated fair values of financial instruments
Acquisition contingent liability		300
Fair Value | Nonrecurring assets and liabilities
Carrying amounts and estimated fair values of financial instruments
Goodwill	358,561	359,781
Fair Value | Nonrecurring assets and liabilities | Level 3
Carrying amounts and estimated fair values of financial instruments
Goodwill	$ 358,561	$ 359,781

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Incentive Plan (Details) - shares	Jun. 30, 2021	Dec. 31, 2020	Dec. 20, 2017
Exela 2018 Stock Incentive Plan
Common stock shares authorized	1,600,000,000	1,600,000,000
2018 Plan
Exela 2018 Stock Incentive Plan
Common stock shares authorized			2,774,588

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock Unit Grants (Details) - RSU's - 2018 Plan - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Number of Shares
Balance at the beginning of the period (in shares)	26,455
Shares granted	688,344
Shares forfeited	(11,667)
Shares vested	(13,227)
Balance at the end of the period (in shares)	689,905	26,455
Weighted Average Grant Date Fair Value
Balance at the beginning of the period	$ 3.78
Shares granted	2.70
Shares forfeited	2.73
Shares vested	13.48
Balance at the end of the period	$ 2.67	$ 3.78
Average Remaining Contractual Life (Years)
Weighted average remaining contractual life (in years)	7 months 20 days	10 months 28 days
Aggregate Intrinsic Value
Aggregate intrinsic value outstanding	$ 1,875	$ 50
Minimum
Stock-Based Compensation
Vesting period	1 year
Maximum
Stock-Based Compensation
Vesting period	2 years

Stock-Based Compensation - Opti

Stock-Based Compensation - Options (Details) - USD ($) $ / shares in Units, $ in Millions	Jan. 18, 2018	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
2018 Plan
Unrecognized compensation expense
Unrecognized compensation expense		$ 3		$ 3
2018 Plan | Selling, general and administrative expense
Unrecognized compensation expense
Total compensation expense		$ 0.6	$ 0.9	$ 1	$ 1.8
Stock options
Outstanding
Exercised (in shares)				352,280
Stock options | 2018 Plan
Stock-based compensation
Minimum fair market value per share of underlying stock used to determine option grant price, as a percent	100.00%
Expiration of stock options	10 years
Outstanding
Outstanding Balance at beginning of the year (in shares)				1,635,700
Forfeited (in shares)				(123,107)
Outstanding Balance at the end of the year (in shares)		1,512,593		1,512,593		1,635,700
Weighted average Grant Date fair Value
Outstanding balance at the beginning of the period				$ 5.67
Forfeited				5.90
Outstanding balance at the end of the period		$ 5.65		5.65		$ 5.67
Weighted Average Exercise Price
Outstanding Balance at the beginning of the year				11.89
Outstanding Balance at the end of the year (in shares)		$ 11.86		$ 11.86		$ 11.89
Additional information
Average Remaining Vesting Period				1 year 10 days		1 year 5 months 1 day
Aggregate Intrinsic Value		$ 0		$ 0
Stock options | 2018 Plan | Minimum
Stock-based compensation
Vesting period				2 years
Stock options | 2018 Plan | Maximum
Stock-based compensation
Vesting period				4 years

Stockholders' Equity - Common S

Stockholders' Equity - Common Stock (Details)	3 Months Ended			6 Months Ended
	Jun. 30, 2021shares	Mar. 31, 2021shares	Mar. 31, 2020shares	Jun. 30, 2021Voteshares	Jun. 30, 2020shares	Dec. 31, 2020shares
Common Stock
Common Stock, shares authorized	1,600,000,000			1,600,000,000		1,600,000,000
Number of voting rights entitled for each share of Common Stock held | Vote				1
Common stock, shares issued	72,860,988			72,860,988		51,693,931
Common Stock, shares, outstanding	70,409,282			70,409,282		49,242,225
Common stock, shares returned			1,523,578
Series A Preferred Stock
Common Stock
Preferred shares converted to common stock (in shares)				511,939	1,004,183
Common Stock
Common Stock
Preferred shares converted to common stock (in shares)	564	223,413	409,238	223,977

Stockholders' Equity - Reverse

Stockholders' Equity - Reverse Stock Split (Details)	Jan. 25, 2021	Jun. 30, 2021shares	Dec. 31, 2020shares
STOCKHOLDERS' EQUITY
Reverse stock split	0.3333
Common stock, shares issued		72,860,988	51,693,931
Common Stock, shares, outstanding		70,409,282	49,242,225
Prior To Stock Split [Member]
STOCKHOLDERS' EQUITY
Common stock, shares issued			147,511,430
Common Stock, shares, outstanding			147,511,430

Stockholders' Equity - Common_2

Stockholders' Equity - Common Stock At-The-Market Sales Program (Details) - USD ($) $ / shares in Units, $ in Millions	Jun. 30, 2021	May 27, 2021	Jun. 30, 2021
Class of Stock [Line Items]
Shares issued			70,423,099
Settlement period			2 days
Common ATM Program-1
Class of Stock [Line Items]
Shares issued			11,216,706
Weighted average price	$ 1.615		$ 1.615
Gross proceeds			$ 18.1
Net proceeds			$ 17.4
Common ATM Program-1 | Maximum
Class of Stock [Line Items]
Issuance of Common Stock		$ 100
Common ATM Program-2 | Maximum
Class of Stock [Line Items]
Issuance of Common Stock	$ 150

Stockholders' Equity - Preferre

Stockholders' Equity - Preferred Stock (Details) $ / shares in Units, $ in Thousands	Jan. 25, 2021	Jun. 30, 2021USD ($)$ / sharesshares	Mar. 31, 2021shares	Jun. 30, 2020USD ($)$ / shares	Mar. 31, 2020shares	Jun. 30, 2021USD ($)$ / sharesshares	Jun. 30, 2020USD ($)$ / sharesshares	Dec. 31, 2020$ / sharesshares	Jul. 12, 2017USD ($)
Preferred Stock
Preferred stock, shares authorized		20,000,000				20,000,000		20,000,000
Preferred stock, shares outstanding		2,778,111				2,778,111		3,290,050
Preferred Stock, par value (in dollars per share) | $ / shares		$ 0.0001				$ 0.0001		$ 0.0001
Reverse stock split	0.3333
Series A Preferred Stock
Preferred Stock
Preferred stock, shares outstanding		2,778,111				2,778,111		3,290,050
Preferred Stock, par value (in dollars per share) | $ / shares								$ 0.0001
Preferred Stock, cumulative dividends rate (in percentage)						10.00%
Accumulated preferred stock, Dividends | $		$ 800		$ 900
Conversion of Series A Preferred stock to common shares						511,939	1,004,183
Additional common stock issuable upon conversion of remaining convertible shares		1,245,758				1,245,758
Cumulative accrued but unpaid dividends | $									$ 10,700
Per share average of cumulative preferred dividends (in dollars per share) | $ / shares		$ 0.3		$ 0.3		$ 0.1	$ 0.2
Reverse stock split						0.4484
Common Stock
Preferred Stock
Conversion of shares (in shares)						223,413	409,238
Common Stock
Preferred Stock
Conversion of Series A Preferred stock to common shares		564	223,413		409,238	223,977
Common Stock | Series A Preferred Stock
Preferred Stock
Accumulated preferred stock, Dividends | $						$ (1,800)	$ (2,300)
Common Stock | Common Stock
Preferred Stock
Accumulated preferred stock, Dividends | $						$ 100	$ 600

Stockholders' Equity - Treasury

Stockholders' Equity - Treasury Stock (Details) - shares	3 Months Ended	6 Months Ended
	Mar. 31, 2020	Jun. 30, 2021	Nov. 08, 2017
Stockholders' Equity
Treasury stock, shares authorized			1,666,667
Share Repurchased (in shares)		929,049
Shares returned in connection with the Appraisal Action following repayment of Margin Loan (in shares)	1,523,578

Stockholders' Equity - Warrants

Stockholders' Equity - Warrants (Details) $ / shares in Units, $ in Thousands	Mar. 15, 2021USD ($)$ / sharesshares	Jun. 30, 2021item$ / sharesshares
Warrants
Warrants outstanding		15,565,152
Number of Common Stock each warrant may purchase		0.5
Exercise price of warrant per half of Common Stock | $ / shares		$ 5.75
Exercise price of warrant per one Common Stock (in US$ per share) | $ / shares		$ 34.50
Expiration of warrants from business acquisition date		5 years
Warrant redemption price (in US$ per share) | $ / shares		$ 0.01
Minimum written notice period of redemption		30 days
Minimum common stock sales price for exercise of redemption right (in US$ per share) | $ / shares		$ 72
Minimum trading days within 30-day period at $72 per share for exercise of redemption right | item		20
Trading day period for exercise of redemption right		30 days
Period of the 30-day period prior to notice of redemption		3 days
Period of current registration effectivity prior to 30-day trading period		5 days
Gross proceeds	5.50%
IPO
Warrants
Warrants outstanding		35,000,000
Number of Common Stock each warrant may purchase		0.5
Private Placement
Warrants
Warrants outstanding		9,731,819
Exercise price of warrant per one Common Stock (in US$ per share) | $ / shares	$ 4
Purchase of common stock, share	9,731,819
Common stock issued price | $ / shares	$ 2.75
Gross proceeds from offering expected | $	$ 26,800
Warrants
Warrants
Number of warrants separated from the original unit		34,986,302
Number of warrants not separated from the original unit		13,698
Warrants | IPO
Warrants
Units issued		35,000,000
Common stock included in units		1
Warrants included in units		1

Related-Party Transactions - Re

Related-Party Transactions - Relationship with HandsOn Global Management (Details)	3 Months Ended			6 Months Ended		12 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Dec. 31, 2019USD ($)	Jun. 30, 2021USD ($)agreement	Jun. 30, 2020USD ($)	Dec. 31, 2016
Related-Party Transactions
Amount of related party transaction	$ 2,748,000	$ 1,146,000		$ 4,455,000	$ 2,698,000
Related party expense	2,748,000	1,146,000		4,455,000	2,698,000
Settlement gain on related party payable to Ex-Sigma 2		1,287,000			1,287,000
Related Party Transaction, Reimbursement Expenses from Transactions with Related Party	$ 0			$ 0	200,000
Maximum
Related-Party Transactions
Related Party Transaction, Reimbursement Expenses from Transactions with Related Party		100,000
HGM
Related-Party Transactions
Ownership percentage	35.00%			35.00%
HGM | Travel Expense
Related-Party Transactions
Amount of related party transaction	$ 100,000	100,000		$ 100,000	100,000
HGM | Master Service Agreement
Related-Party Transactions
Number of master agreements | agreement				10
Entities affiliated with HGM managed funds | Master Service Agreement
Related-Party Transactions
Revenue share percentage						25.00%
Affiliate of largest stockholder
Related-Party Transactions
Rental expenses	100,000	100,000		$ 100,000	100,000
HOV Services, Ltd | Data Capture And Technology Services | Cost of revenue
Related-Party Transactions
Amount of related party transaction	300,000	400,000		600,000	800,000
Sigma 2, LLC
Related-Party Transactions
Cash Reimbursed To Related Parties			$ 5,600,000
Sigma 2, LLC | Margin Loan
Related-Party Transactions
Due to Related Parties		6,900,000			6,900,000
Settlement gain on related party payable to Ex-Sigma 2		1,300,000
SourceHOV | Master Service Agreement
Related-Party Transactions
Revenue share percentage						75.00%
SourceHOV | Entities affiliated with HGM managed funds | Master Service Agreement
Related-Party Transactions
Related party expense	$ 1,600,000	$ 400,000		$ 2,700,000	$ 800,000

Related-Party Transactions - Co

Related-Party Transactions - Consulting Agreement (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Related-Party Transactions
Related party expense	$ 2,748	$ 1,146	$ 4,455	$ 2,698
Consulting Services | Oakana Holdings Inc | Maximum
Related-Party Transactions
Related party expense	$ 100	$ 100	$ 100	$ 100

Related Party Transactions - Re

Related Party Transactions - Relationship with Apollo Global Management, LLC (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Related-Party Transactions
Related party expense	$ 2,748	$ 1,146	$ 4,455	$ 2,698
Management Holdings | Master Service Agreement | Maximum
Related-Party Transactions
Revenue from related parties				100
Caesars | Master Service Agreement
Related-Party Transactions
Revenue from related parties				900
ADT LLC | Master Service Agreement
Related-Party Transactions
Revenue from related parties				300
Sigma 2, LLC | Margin Loan
Related-Party Transactions
Due to Related Parties		$ 6,900		6,900
Diamond Resorts Centralized Services | Master Service Agreement
Related-Party Transactions
Revenue from related parties				900
Diamond Resorts Centralized Services | Master Service Agreement | Maximum
Related-Party Transactions
Related party cost of revenue				100
Presidio Group | Master Service Agreement
Related-Party Transactions
Related party expense				$ 200

Related-Party Transactions - _2

Related-Party Transactions - Receivable and Payable Balance with Affiliates (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Payable and Receivable Balances with Affiliates
Receivables and Prepaid Expenses	$ 712	$ 711
Payables	489	97
HOV Services, Ltd
Payable and Receivable Balances with Affiliates
Receivables and Prepaid Expenses	712	711
Rule 14, LLC
Payable and Receivable Balances with Affiliates
Payables	456	44
HGM
Payable and Receivable Balances with Affiliates
Payables	32	52
Oakana Holdings Inc
Payable and Receivable Balances with Affiliates
Payables	$ 1	$ 1

Segment and Geographic Area I_3

Segment and Geographic Area Information - Revenue by segment information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)segment	Jun. 30, 2020USD ($)
Segment information
Number of segments | segment			3
Revenue	$ 293,009	$ 307,722	$ 593,065	$ 673,173
Cost of revenue (exclusive of depreciation and amortization)	209,080	241,788	441,667	534,326
Segment profit	83,929	65,934	151,398	138,847
Selling, general and administrative expenses (exclusive of depreciation and amortization)	36,390	47,014	78,275	97,387
Depreciation and amortization	19,420	22,847	39,019	46,032
Related party expense	2,748	1,146	4,455	2,698
Interest expense, net	42,867	44,440	85,998	86,028
Sundry expense (income), net	(787)	(899)	(574)	183
Other expense (income), net	651	(584)	803	(35,241)
Net loss before income taxes	(17,360)	(48,030)	(56,578)	(58,240)
ITPS
Segment information
Revenue	217,260	243,029	449,135	527,140
Cost of revenue (exclusive of depreciation and amortization)	156,669	195,835	342,171	430,954
Segment profit	60,591	47,194	106,964	96,186
HS
Segment information
Revenue	56,204	49,166	107,297	113,216
Cost of revenue (exclusive of depreciation and amortization)	38,973	36,148	74,791	81,078
Segment profit	17,231	13,018	32,506	32,138
LLPS
Segment information
Revenue	19,545	15,527	36,633	32,817
Cost of revenue (exclusive of depreciation and amortization)	13,438	9,805	24,705	22,294
Segment profit	$ 6,107	$ 5,722	$ 11,928	$ 10,523

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions	Jun. 30, 2021	May 27, 2021	Jul. 31, 2021	Jun. 30, 2021
Subsequent Event [Line Items]
Shares issued				70,423,099
Common ATM Program-1
Subsequent Event [Line Items]
Shares issued				11,216,706
Weighted average price	$ 1.615			$ 1.615
Gross proceeds				$ 18.1
Net proceeds				$ 17.4
Common ATM Program-1 | Maximum
Subsequent Event [Line Items]
Issuance of Common Stock		$ 100
Common ATM Program-2 | Maximum
Subsequent Event [Line Items]
Issuance of Common Stock	$ 150
Subsequent Events | Senior secured notes
Subsequent Event [Line Items]
Repurchase of principal amount			$ 19
Subsequent Events | Senior secured term loan
Subsequent Event [Line Items]
Repurchase of principal amount			$ 40.1
Subsequent Events | Common ATM Program-1
Subsequent Event [Line Items]
Shares issued			38,207,000
Weighted average price			$ 2.124
Gross proceeds			$ 81.1
Net proceeds			$ 78.3
Subsequent Events | Common ATM Program-2
Subsequent Event [Line Items]
Shares issued			35,425,041
Weighted average price			$ 2.762
Gross proceeds			$ 97.9
Net proceeds			$ 94.2