XELA - Earnings call transcript Q3 2020 | Exela Technologies, Inc.

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good day, and welcome to the Exela Technologies; Third Quarter 2020 Financial Results Conference Call. All participants will be in listen-only mode [Operator Instructions] After today’s presentation there will be n opportunity to ask questions. Please not this event is being recorded. I would now like to turn the conference over to Will Maina. Please go ahead.

William Maina

good XXXX and conference and Technologies to Jason quarter third call. you, morning, welcome everyone, Exela Thank I’m joined today Officer; and by Ron Cogburn, Sortur, Chief Exela’s our Financial Officer. Shrikant Chief Executive

available Shrikant, remarks Exela’s exelatech.com. by Today’s prepared website call broadcast available at which being via in through is the replay press take November XXXX. Relations will of A on the also Following the conference access Ron listed and this Information Investor Investor of your is replay which we be is the Relations made yesterday’s questions. webcast, call is live release, to on will Exela’s XX, page available page website. of

and as call, statements known Securities make to certain Private the Exela XXXX. and occur and Litigation could regarding Reform current on undertake today’s Act and financial risks forward-looking actual statements. unknown from will to under expectations maybe uncertainties differ reflect to subject We statements forward-looking results statements materially obligation are of are any and the events events this During characterized any call forward-looking assumptions. These no after and based that update future performance that

Exela’s website. the of associated XX-K, please from page SEC most information discussed SEC. are Company’s the on Copies relations release For more or investor Exela’s recent available other the report risk and along factors periodic refer press to filed the the in form with filings with

relations today’s be and Ron the CEO, note like accompanies of the results turn page between During would non-GAAP relations views non-GAAP the to on on to our how investor performance our call management investor business. presentation for the on and over of call we operating these our Ron discuss over can today’s measures. that information page And Cogburn, GAAP call, additional will found provide non-GAAP sheet you reference I certain investor website. Reconciliations also fact now assessable conference you. website. measures believe this Please financial call to the on We our

Ronald Cogburn

thanks XXXX earnings call. Exela joining degree, and on customers. to morning, has our some everyone us including Good for The pandemic everyone impacted and COVID-XX third our quarter

to our quarter still for While some remains, of value is margin continue evidence creation related plan the well current environment, sequential against to in pandemic further we in expansion, liquidity and cashflow execute third the this uncertainty our progress. our rising improving

our why perseverance time. would To world-class pandemic our are illustrate to thank We proud continue motivates increased than slides profitable we growth and team couple highlighting that all work, of to truly our in committed for to very to the XX,XXX inspirational help and well-positioned of Their begin COVID-XX during efforts have and to weather hard by service the dedication the all us is challenging like and pushing the this current employees amid sacrifice. of delivering your remained ahead. you been more a I environment global members who today Exela future. customers have generate

foundation, digital X, significant with like process Let’s page discuss away this I business what an everyone scale. leader are global from we Exela’s to automation that overview Slide Number take let’s of to a turn in and would is

the across by including stability years profitable XX XX% are of customers, providing these the our the leveraging plus Giving countries, services us and analytics. and we opportunity times X,XXX of experience, critical mission for deliver very over automation billings XX attractive growth. We Our on for in payments challenging of XXX services focused significant serve markets. by technology long-term services and Fortune

and the helps have diversity serve healthcare Number the we key services included across where markets of categories. slide into you business In respectively. very see we illustrate second our look Slide of column, breadth to verticals X, a let’s gives several our to XX% that This we our the with you insight attractive down Moving mix into and breakout industry, making bit revenue serve up a of will further at offerings. revenue financial across banking geography, and and some revenue, XX% service and the customers, our higher industry growth

continue top our you Moving organizations, include from XXX our These we to world’s accounts. top largest is of headroom the concentration. next revenue column, customers and have have can low significant generated some customer see XX% the of growing customers. to from our we XXX

on sales revenue the XX% from to that over With other are marketing significantly. have the attention accounts the remaining our ability the and additional generated of expand we focusing all customers,

our success had efforts to have potential apply to We grow continue we high top with smaller, same with customers, this customers. XXX strategy these

The our in demand for these Finally, products is split And I advantage these in BPA greater of our digital our as diverse a have shortly. provide revenue services mix and assets. traditional for asset times focused are growth geographies, core we our us. unprecedented increased Because long-term our in fostering a between even breadth discuss business, across digital group, key during important will detail environment. last to the of and column, customers services, which of in industries today’s services this the stability on we and competitive

Number segments recent our third geographies. to volumes customer industry Slide the on the some and highlights Now, a In quarter, let’s more X. strategic rebound across varied move on

work-from-anywhere the signs of pleased sequential long-term best our very especially enabling and we our a However, companies WFA improve with remain dialogue services basis. forward a as level or solutions normal. need reopening Throughout work-from-home see way estimate a environments a balance to to we approximately which customers pandemic, drive our From office across locations continue solution. work-from-home in greater in new nice believe We uptick QX. our analyze with healthcare business on volumes continue increased to maintain QX. going Exela’s see return we gradually that business a more our they has demand standpoint, to remain physical will will the as that We customers of will some are optimistic encouraging from certain and to for half

greater the They demand in organizations Exela’s are with wins. pipeline in-line multiple are pandemic. also customers just proposition automation. grow Our across great trends perfectly These outcomes increased us possible and with seeking in cost through value But QX. work business to new helps our into to efficiency from their us analyze converting some

total public me insurance markets segment, with give added this U.S. contract In Let healthcare to which ramping few we totaling healthcare wins begun business of across new of sector, value, systems. and has $XXX you providers and In value, quarter. annual our equates recently wins a examples. European we the million large new $XX signed contract and million

Solution Mailroom quarter. exceeded Digital the users Our third in XXX,XXX

have We high expectations for DMR.

year. demand we seeing we strong that this the and of significant growth Given product are next expect

for remainder XXXX. our the to of Turning and XXXX outlook

like I this First address quickly would as may the appraisal current later. litigation to proceedings questions about have we

in of what in XX-Q to our is business update perspective, from can prior time, you prior report us has signs disclosed we from the or at mentioned filing. to status in in yesterday’s Q continuing pursue by material discussed are as see as market. no change calls. continue earlier, stabilization our been I From or a this see appeal, we While There in the to

Even as COVID-XX with these uncertainties caused the continue.

barring quarter, improve in to customer outbreak We continue and fourth the demand XXXX in will significant for another expect lockdown.

see example as growth. with investments as revenue segments, of where which automation, our includes strategic are well the Moving represents total which payments, scanning and most forward, our along approximately and DMR target services as year-to-date X% digital such our solutions One the DrySign, Digital industry in our speed solutions, is eSignature high and we for we like such by driven our potential profitable other work-from-anywhere platforms workflow assets, platform, billing is equipment. and and Mailroom or for healthcare focusing

or To Exela’s and Slide DAG. more to X. digital to help turn recently importantly, our on Asset strategy We the Number Digital created increased advance Let’s focus demand. growth Group

generate revenue. of two-thirds Our XXX was Group, digital leading $XXX,XXX technologists, the with DAG additional innovation added and Asset October digital asset Group over in customers our Digital XX growth which Asset including of currently generated Digital Year-to-date, our support We assets. annual to foster And of serve includes to built revenue. were digital million drive assets purpose solutions, alone. our customers, our that our of $XX each in

industries include healthcare insurance, banking, public sector. the and our focus Group for Digital Asset Now

digital and accounting technologies department, business and processes Our functions. to solutions automate our leverage across finance legal department, customers, resource human

let’s move assets let digital Now, [X] Slide (Ph) the in me and Number differentiates what to touch Exela’s market. on

software with highly licenses flexible Our supported consulting, industries. with for referenceable other contract by digital XX-year professional and our domain product to payment one strategic teams deep options service and expertise departments management Exela’s such target offer assets as term along We platforms. are across our processing our our

as SMBs such the SaaS contracts Our of needs per to pursue. or are of And assets DMR, DrySign. our the significant to month to choose enterprises, solutions digital finally, a user designed sizes, all for or per from addressable us the go market giving meet customers customers large can

which is of for supports assets model some been solutions Another in very assets with services. our the in critical have our are aspect professional multiple of little customization our need digital margins or ability the these past. healthy very to to digital clients This sell the the largest for growth solution

our In and one we the the continued in progress is area liquidity. are particularly margin to drive the and investment experience quarter, Group advantages pleased of Exela for Asset today we Digital closing, of over key in profitability, with line competitive improved top our increase long-term. to Our continuing third our terms growth

and we deliver will we business through critical, in technology, drive much remains mission significant risk, our efficiency, The due We for customers challenging the While we environment market. today’s to to critical Company. to Exela replicate greater automation. stronger value all that digital emerge provide increase positive process or reduce and a services imperatives take are we speed, house proprietary hard our remain COVID-XX, business

to Sortur now business I to turn and detail discuss third and to that plan guidance. day to note with results We to detail innovation few Where strategy. an providing Shrikant the an update host forward the as team next our provide more please management will you the we growth future. quarter our our on solutions you. our our that greater as Lastly, near and into Shrikant look on over broader services over very our well weeks. call in will in

Shrikant Sortur

and us. Thanks, all joining thank Ron. morning Good for you

execution will quarter progress third and with We GAAP made refer particularly In my our profitability have discussion today and to the for second are metric quarter. the a non-GAAP we results. including pleased both strong I

reconciliation includes earnings restated reference fiscal reminder, of interim of our our to metrics XXXX in periods XXXX. a are results to As period corresponding available these materials. the for Any

the achieving transition business the across four challenging have financial and capital For focus normalized we areas four, four and COVID-XX liquidity margin Despite cash adverse on macro within impact trans effects the managing quarters, control improving and focused revenue. one with on structure results. gross environment, capacity of of past namely, and delivered Three, focused and on we the goal Two, management matters a shared performance our expected departments impact, three allocation of the these policy our of our volumes and of the and customer each areas. flow. cost

Our adjusted team and margin to expansion. our COVID-XX managed and our negative gross met and of impact call. transition on the revenue earnings we have We overcome EBITDA guidance revenue provided range margin QX delivered QX sequential

for revenue On the representing XX.X% million review million, of of currency Slide QX XX.X%. XXXX quarter third year-over-year. was XXX.X decline our results. on quarter start a basis of a totaled Revenue constant XX decline with XXX.X third a Let’s the

our XX.X% of to million revenue year-over-year was in a from the for our of million, decrease Moving quarter XXX.X ITPS XXXX. XXX.X third segment segments

in but a increased period, Solutions million year million, Our XX.X XX.X% Healthcare of XX.X second totaled up ago decrease the from driven by year-over-year the revenue XX.X% a segment quarter strong quality. from

and Prevention a decrease was Legal XX%. XX.X revenue segment Our million of Loss

more remain the transition a off end volume we continue standard transition of million the total to as positive with on not from declines which with negative a impact faster by QX, postage When nominal refer strategic the XXXX.As balance and see and revenue. attributable XXXX. revenue time remove from our exist revenue were XXX.X pandemic of revenue XX% XXX.X either take declining to delayed and zero bit to statement COVID-XX the the revenue year-over-year or excluding customer sequentially, XXXX revenue. X% handling margins business. decline from to reflect volume revenue reduce track We transition QX in with revenue from by was year-over-year mainly margin, up of the [indiscernible] as approximately Roughly gross work of a and certain postage eliminate to Our on million the was first the our performance our contracts in costs transition reminder, associated impacts our we roll due of a will COVID-XX, from end revenue, to costs quarter transition of of of the which

or with million margin income. revenue. totaled to quarter XX.X recorded XXXX sundry costs million the in quarter compared XX.X%, operating for XXX and margin profit third million, X.X basis our other sales is in physical and reduction XX.X by our loss associated quarter the income for year-over-year, attributable as year-over-year, business storage year-over-year versus primarily gross third of improvement, the as sequentially basis transition of was XXXX The lower represented expense expense of XXXX. with costs. gross was it points expenses the XX.X million and amortization costs was SG&A increase down and professional under fee, income points sale travel of the to expenses and X.X of million, Operating QX our XX% on a of lower We lower Our for management, better third SG&A reflected capacity and depreciation driven and in up year-ago XXX record operating period. other stranded to well of a due QX gain of primarily a

no XX.X cost was of third in asset of with Additionally, and impairment XXXX. there compared of other XXXX, the in goodwill intangible quarter QX million the

in compared year generated and Adjusted the up period. XX.X million of third quarter to we for million EBITDA EBITDA. XX.X Turning the prior XX% QX of million EBITDA was XX.X to adjusted quarter-over-quarter. In XXXX, EBITDA

reflecting Our points of saving our XX% essentially execution third quarter the QX strong XXX flat cost adjusted sequentially EBITDA up of margin initiative for XXXX year-over-year. was XX% and basis from in

QX points to revenue, EBITDA XXX XXXX pass-through was basis adjusted margin XX.X% Excluding our quarter-over-quarter. up

them we our Moving continued trajectory. a made progress upward slide strong the XX. to quarter third illustrates This Setting Slide phrases a improving margins. sound for stage

you gross XXXX. the on In in of EBITDA XXX As we revenue in squeeze a we we and margin lift. adjusted with revenues. XXX XXX despite adjusted kept million points EBITDA and call, basis margin positive gross basis points result EBITDA discussed gross generated adjusted of expansion a improvement margin basis basis cost of incremental sequential points improvement, decline, XXX margin gross result ongoing our of reduction the of profit quarter and and XXX point our our of points sequential our of our In saving sequential our XX a on QX, low despite XX QX, our expansion points Furthermore, versus EBITDA an last first continued delivered million margin adjusted laser year-over-year initiatives. margins QX we delivered direct This is margin stable of XXXX. focus basis

example. as extend examination we facility also initiatives in beyond will work-from-home saving As additional currently such are previously, the mentioned an our pandemic policies costs that reduction driving we have cost under that COVID-XX as

Slide of features strategic XX to to move that liquidity. our and Number Let’s a discuss

sales to-date of originally we company divestitures XXX from have to As targeted million million that completed Since part past, of assets. XXX as non-core certain then proceeds in the plan. XX of the million had

since against We will our and our our and to liquidity. our the capital plan continue with targeting, sales initiative, actions traditionally driving. model additional alignment strategy complete additional activating executing to This it to our of current light associated assets improve implement cost explore working our including to businesses transition as includes planned is

quarter full-year in now And liquidity was was and debt our close like our near-term discussing We target guide. X.XXX revenue total to total our billion. have I XXX - XXXX liquidity a achieve XXXX by fourth would XX to plan place million. of our million, net

we revenue expected of year-over-year revenue assets, impacted revenue decline lower is basis revenue in higher XXX sequential transitions billion of reduction For a volumes non-core exit quarter of to offset QX quarter the nine the basis, quarter revenue. COVID-XX fourth expect a XXXX, by XXXX the range from to fourth our on transition and (Ph) of total XXX primarily be of a On result as to the of XXXX, well aforementioned approximately elimination. guidance as contribution to the the be from of attributable QX, compared as million volumes [billion] reflects by revenue to negatively fourth a

Thank the Point of from to Capital. please expect call [Operator XXXX, in billion. First questions. that open of X.XX for the much is Please X.XX For today. question full-year we time go be to range With revenue Alan ahead. your thank billion Beach Instructions] total operator, to you the Cato would like very you. from I for

Alan Cato

look my like that behind lumpiness, at maybe that versus the Could rate helpful. would lower. question, and kind when taking XQ, the XQ seasonality of drivers year-over-year bit the the revenue, that first is quarter for little the it decline or looks I it of a in Thanks be if it you some Hi. guidance transition explain is just like

Shrikant Sortur

Sure Alan, here. Shrikant

that COVID Let there said will the for I has. there the then wait would revenue unfold QX, is it remarks. that uncertainties in still my we to uncertainty we need was of that with prepared how factored for me environment. And is we the usually uptick see being the volumes, and start healthcare transition off, higher an to see rate the QX take in that.

decline higher expecting of presentation, Ron’s to including going for the ramps QX. that we by is volumes, potentially offset discussed revenue be We are actually that in some the briefly transition

QX. we kept So steady fairly it with

Alan Cato

it. Got

on potential detail I payments on early payment bit this you if the the any in Can just a for and quarter noticed a those go think outstanding? were queue million similar statement, there into what acquisitions pending $X more is made XXXX. to the cashflow I Going there was

Shrikant Sortur

we payout staggered asset aware are this that a we the due was nothing next similar purchased, was point down. of perspective. day, in time, was At That there the to it and nature we installment from related particular a cash the back transaction in outflow QX that a settle and software is in in

Alan Cato

Got it.

about Just lines can the exited in quarter? costs rationalize two removals you and I have talked in first, from guess actions service, on starting to or might the progress stranded particular me, of you more any third any quarter or

Shrikant Sortur

Alan. Sure

coming and DAG, our all your it it We with Coming some like saw go stranded the cost of But costs, that there. we quarterly to continued transition But or I question. yes, eliminating tend Obviously, is That the in offsets stranded transitions to transition to of yes, this to do are see stranded driver to cost focus slow continue is you the path expect on announcement steady or cost. rate gross the assumed to to also again, fair, one in be whether and revenue round identifying, margins. is related for down specific the that of system. is back these we of the DMR the the stranded up. the The we positive we revenue other costs coming increase of happening once business. coming out back the things costs at to run are be transition the said,

Alan Cato

rate, you that hear the say I miss transition the Did ultimate of run revenues at it. there? strength or you guys kind Got for did the

Shrikant Sortur

correct. Ultimate run rate. That is

Alan Cato

away. quarter in a year-over-year forward, so transition on should comparison Okay, revenue going minimal by impact there going be the

Shrikant Sortur

going be impact. versus to from you sequential bigger not it perspective, right. about XXXX, as there from a QX is look related Think a QX to impact transitions a Wouldn’t XXXX it pronounced. Correct. minimal versus revenue at

Alan Cato

quarter, less But sequentially second be by my the quarter impact know you gone. Right, be first year-over-year quarter now. guess each quarter point right. will the I it XXXX, second is should

Shrikant Sortur

yes. Correct,

Alan Cato

revenue XQ be So and less will like what impact. the is XQ transition year-over-year the in comping in

Shrikant Sortur

Yes.

Alan Cato

saw last there XX your queue, the in the million presentation. is of question I in And I liquidity, also think

split one, between that. is how question the the and I So, one up that have RCF? facility AR facility availability And after

Shrikant Sortur

Sure.

availability XX if or notice borrowing on availability. is I very so think our capacity global million, it of approximately much QX on of that all you

yet. that of point date, particular the time is this million that four in so Okay. at not [Multiple of Speakers]. on AR as

Alan Cato

Right.

on think I there is also credit the saw revolver. letters I of

it indeed… So is

Shrikant Sortur

our. We are netting that

not We revolver. in availability any factoring are under

Alan Cato

the flow on the where Okay, the not four so is is, available it facility not it if is cash available revolver minus on from? XX is it and coming AR

Shrikant Sortur

the have AR on facility, We of we our available have availability. global sort other

Alan Cato

it. Got

majority are kind like anyone is of So of equipment what those, accounts that? of some facilities Kind accordion there or the that like for that… other

Shrikant Sortur

available international have we on No, facilities. our

Alan Cato

Okay.

Shrikant Sortur

Yes.

Alan Cato

Just quickly on would see that, is I the that debt other. where footnote just in

Shrikant Sortur

that the footnote, an total. up, will on break debt, hesitant not the is I the but is see see will the availability. see like it you exact, not you - It to no, will said, is concern not net I’m why You it in growing give

Alan Cato

that Okay. Got to trying statement. is financial where was find it. the I in

Shrikant Sortur

number, Yes XX.X right billion is the XX. not

Alan Cato

going up to show the basically? But it Okay. balance noted, sheet be it not just of will in debt, is off kind but

Shrikant Sortur

Correct.

Alan Cato

Okay.

So availability. off sheet balance

as November, Okay, know I so about XX liquidity early starting covenants. then the from million of of is liquidity minimum disclosure there

just be kind being also time you score like of on of would maybe maybe the to or some January of being sources moment those covenants? that with a standing anticipate helpful. Do will you minimum operating roll in just improvements liquidity us that or pay externally rolling kind good liquidity like could forward to hurdles getting in necessary asset So additional coupon the sale the kind all liquidity

Shrikant Sortur

Sure.

importance the probable question. the of Given

more here give me Let answer a detailed you right.

back to it pull our me original plan. Let

Of course, liquidity this and cash flows. improving been has on

We multiple the have prior that are. covered what told in we plans call, have earnings

EBITDA one, multiple that The has place focus obviously on that and of in expansion plan or not comes a comes also focus liquidity not focused we have it SG&A are to million gross is changed. in near-term forms gross revenue margins achieve XXX on We margins, to costs, growth, right. when profitable controlling in target so margin

on past, having basis, I your the including a are we possible say thing heightened liquidity. One as at awareness terms certainly question a payment. of weekly in bond We very can the operating right. times almost discussed we In that business have a around is, manage next many

our can that [indiscernible]. want there in But one, We those I thing have that to cover. revenue We is the believe exiting. need and think take come get ability say profitable like is make dollars we payment the to runway to that transitions important number will another would the additional of to to margin liquidity. cash we see What execute, bond to are we cost, out between is we we revenue. we sufficient our flows, kind through stranded improve scaling I now Now, have

Operator

David The next ahead. comes Please question from Unum. from Foropoulos go

David Foropoulos

Thanks follow-up guys. for order, on To that. the payment get near-term? know us the Hey give on just just sufficient expectations the this is a color color here cash a a liquidity. - free but Can maybe or I you on color in flow any non-coupon

Shrikant Sortur

indicator adjusted indicator best our is, an indicator the charges O&R of other EBITDA non-cash of out part a at you cash and that not But In flow give flows. cash for good adjusted you something free gives maybe a XXX% is it the think payout, the a good if there cash but less is element back you free I look can O&R of like of EBITDA severance quarter. as that.

David Foropoulos

So that was for prior the the O&R the million XX XX year. to million guide

I year-to-date. are you XX about think

way So is about to it? that still think the best

Shrikant Sortur

Yes.

David Foropoulos

Okay.

guys moving about year a about talked the ago, So to think I strategy. your two kind this divestitures, of on you

you that pushed you gives You proceeds. XXX - which timeline million be that there timeline, run guess XXX any is - million million is is another rate that here? going guess there I to Is thus have year, I done as the far. a XX pandemic of that such and out here two intact - to little light in still Or are of only bit? in are backdrop get

Shrikant Sortur

but the pushed No, out. we and very be point answer, at specific have this no again, least a reason to see for we at about time enough, giving talked timeline it

We are target, we are on track. on staying

So where details right more are have certainly feel we confident we will now. we when we but provide about

David Foropoulos

rev. talked to QX Okay. QX runoff is transition And on you the year? of you in complete question Did - that was or another then about. say That next the going

Shrikant Sortur

XXXX. next of QX year

David Foropoulos

this know quarter, how will much mean, much quantify hit And did but left did there? off then and I to they you have how I how much be run you

Shrikant Sortur

annual at million the We in run run what QX are looking was off and it XXX The when QX was started year. than right we QX. of lower rate

You XX% the you you know can will came the said from... math, we whatever of shortfall do see

David Foropoulos

kind into it of traditionally going there. remember Okay of kind software of expect case said correctly, year is gone are - be - the back And that that kind going that Is I heavy - the a to has to bit little you heavy one could license there? this on that of know QX if I been margins a quarter. better be tailwinds

Shrikant Sortur

that But back that in are we But times, unsure come will aboard near-term, all as there David, traditionally being are that that talking is have things is a we a in how QX. interesting to to to margin obviously this love sales minute, quarter would The you will see are live well. better in uncertain will there us. for We that Yes. quarter given - but back before in we strong we is seasonality QX. to hopeful about with right and We pipeline are play we that out. see not specifically associated I QX, come a are QX software as the through, the come

David Foropoulos

that uptick in any seen have have the With seen you we cases, to volumes in May you seen COVID since that April, commensurate have lows? the hit uptick

Shrikant Sortur

yet. Interestingly, Not yet. not

there you out was all we want fueled Again, something put saw quarter-over-quarter right. very I don’t by pickup healthcare think in uncertain, It to a there. as is revenues, with additional volume. our

customer where know back, and of volumes, volumes, that orders is So to -print trying serve will uptick We it softness is people healthcare, areas strategy were then get that higher higher is saw then customer in off particularly seeing QX, healthcare we still versus Let’s procedures. but we coming in our the your then and down control. in are of urine But Right that to processing DMR run potentially the moving payment pan wherever that something how being claims, in watch. traditionally QX out where are much when dependent all QX, or in and we done healthcare, our if this a on-site of say that with don’t of bit is we on year. anything great definitely are all e-presentment

David Foropoulos

will I Well color jump it. the in queue Alright. for back I here. appreciate Thanks the

Shrikant Sortur

Yep. David. No problem. Thanks

Operator

the the This more Cogburn to no conference session. are would question-and-answer There like our Ron queue. turn questions closing any back for over concludes to in remarks. I

Ronald Cogburn

Day want Innovation forward now between for the next forward I and quarter. in with Product look our digital forward and to Look to then, today emphasis Day, we and for services to an seeing forward showcasing in of everybody on participating call, everyone, Thanks your would quarterly our Thanks, look invitation seeing then operator. a Services thank call. be group. you on to us asset we everybody from look and but talking next big with solutions all

Operator

has now you conference today’s attending concluded. The for presentation. Thank

disconnect. now may You

Exela (XELA) 10 Nov 202020 Q3 Earnings call transcript