XBP Global (XBP)
Market Price (8/20/2026): $2.8 | Market Cap: $33.0 MilSector: Information Technology | Industry: Systems Software
XBP Global (XBP)
Market Price (8/20/2026): $2.8Market Cap: $33.0 MilSector: Information TechnologyIndustry: Systems Software
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -34% | Weak multi-year price returns2Y Excs Rtn is -119%, 3Y Excs Rtn is -170% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -14 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -2.3% Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 1177% Weak revenue growthRev Chg QQuarterly Revenue Change % is -8.3% Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -3.1%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -4.0% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -37% High stock price volatilityVol 12M is 909% Key risksXBP key risks include [1] potential Nasdaq delisting, Show more. |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -34% |
| Weak multi-year price returns2Y Excs Rtn is -119%, 3Y Excs Rtn is -170% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -14 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -2.3% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 1177% |
| Weak revenue growthRev Chg QQuarterly Revenue Change % is -8.3% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -3.1%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -4.0% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -37% |
| High stock price volatilityVol 12M is 909% |
| Key risksXBP key risks include [1] potential Nasdaq delisting, Show more. |
Qualitative Assessment
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XBP Global (XBP) stock has remained largely at the same level since 4/30/2026 because of the following key factors:
1. Mixed Fiscal Q2 2026 Financial Performance. XBP Global reported mixed results for its fiscal Q2 2026 (ended June 30, 2026). The company missed analyst revenue estimates by 3.2% with $191.3 million reported, and EPS missed by 37%, coming in at a loss of $1.42 per share. However, XBP Global also announced a record adjusted gross margin of 24.9% (a 290 basis point increase year-over-year) and an 8.4% year-over-year increase in Normalized EBITDA to $21.9 million. Additionally, management raised its annualized operational efficiency target to $65-$75 million from $55-$60 million, citing AI-led automation efforts. This combination of revenue/EPS misses with improved profitability and raised efficiency targets created a balanced outlook that kept the stock largely stable.
2. Uncertainty from Strategic Alternatives Exploration. On May 14, 2026, XBP Global announced that its Board of Directors initiated a formal process to explore and evaluate a range of strategic alternatives to maximize shareholder value, including the potential sale or divestiture of certain non-core business units. This announcement, while potentially beneficial long-term, introduced a period of uncertainty. The lack of specific details or a timeline for potential actions contributed to investors maintaining a cautious stance, thus preventing significant directional movement in the stock.
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XBP Global (XBP) stock has remained largely at the same level since 4/30/2026 because of the following key factors:
1. Mixed Fiscal Q2 2026 Financial Performance. XBP Global reported mixed results for its fiscal Q2 2026 (ended June 30, 2026). The company missed analyst revenue estimates by 3.2% with $191.3 million reported, and EPS missed by 37%, coming in at a loss of $1.42 per share. However, XBP Global also announced a record adjusted gross margin of 24.9% (a 290 basis point increase year-over-year) and an 8.4% year-over-year increase in Normalized EBITDA to $21.9 million. Additionally, management raised its annualized operational efficiency target to $65-$75 million from $55-$60 million, citing AI-led automation efforts. This combination of revenue/EPS misses with improved profitability and raised efficiency targets created a balanced outlook that kept the stock largely stable.
2. Uncertainty from Strategic Alternatives Exploration. On May 14, 2026, XBP Global announced that its Board of Directors initiated a formal process to explore and evaluate a range of strategic alternatives to maximize shareholder value, including the potential sale or divestiture of certain non-core business units. This announcement, while potentially beneficial long-term, introduced a period of uncertainty. The lack of specific details or a timeline for potential actions contributed to investors maintaining a cautious stance, thus preventing significant directional movement in the stock.
3. Neutral Analyst Sentiment and Price Targets. Analyst coverage during the specified period showed a largely neutral sentiment for XBP Global. The consensus rating from analysts was a "Hold", with an average 12-month price target of $5.00. This price target suggested a limited upside of approximately 67.79% from the stock's trading price of $2.98 as of August 19, 2026, indicating that the investment community did not foresee strong catalysts for immediate significant price appreciation.
4. Offsetting Macroeconomic Factors. While global markets experienced some stabilization and enthusiasm for AI-driven investments in the second quarter of 2026, broader macroeconomic factors continued to exert a cautious influence. Lingering inflation pressures and the expectation that central banks would hold interest rates higher for longer created a conservative investment environment. These overarching economic conditions likely offset any positive company-specific developments, contributing to XBP Global's stock remaining at largely the same level.
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Stock Movement Drivers
Fundamental Drivers
The -2.4% change in XBP stock from 4/30/2026 to 8/19/2026 was primarily driven by a -69.5% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 4302026 | 8192026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.90 | 2.83 | -2.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 674 | 620 | -8.0% |
| P/S Multiple | 0.0 | 0.1 | 247.6% |
| Shares Outstanding (Mil) | 4 | 12 | -69.5% |
| Cumulative Contribution | -2.4% |
Market Drivers
4/30/2026 to 8/19/2026| Return | Correlation | |
|---|---|---|
| XBP | -2.4% | |
| Market (SPY) | 7.0% | -6.7% |
| Sector (XLK) | 15.1% | -17.3% |
Fundamental Drivers
The -62.6% change in XBP stock from 1/31/2026 to 8/19/2026 was primarily driven by a -69.5% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 1312026 | 8192026 | Change |
|---|---|---|---|
| Stock Price ($) | 7.56 | 2.83 | -62.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 674 | 620 | -8.0% |
| P/S Multiple | 0.0 | 0.1 | 33.4% |
| Shares Outstanding (Mil) | 4 | 12 | -69.5% |
| Cumulative Contribution | -62.6% |
Market Drivers
1/31/2026 to 8/19/2026| Return | Correlation | |
|---|---|---|
| XBP | -62.6% | |
| Market (SPY) | 11.4% | 5.0% |
| Sector (XLK) | 27.8% | -4.7% |
Fundamental Drivers
The -78.1% change in XBP stock from 7/31/2025 to 8/19/2026 was primarily driven by a -69.7% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 7312025 | 8192026 | Change |
|---|---|---|---|
| Stock Price ($) | 12.90 | 2.83 | -78.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 668 | 620 | -7.1% |
| P/S Multiple | 0.1 | 0.1 | -22.1% |
| Shares Outstanding (Mil) | 4 | 12 | -69.7% |
| Cumulative Contribution | -78.1% |
Market Drivers
7/31/2025 to 8/19/2026| Return | Correlation | |
|---|---|---|
| XBP | -78.1% | |
| Market (SPY) | 22.7% | -0.3% |
| Sector (XLK) | 40.4% | -3.9% |
Fundamental Drivers
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Market Drivers
7/31/2023 to 8/19/2026| Return | Correlation | |
|---|---|---|
| XBP | ||
| Market (SPY) | 73.9% | 1.3% |
| Sector (XLK) | 109.8% | -1.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| XBP Return | - | - | -72% | -79% | -38% | -56% | -98% |
| Peers Return | 41% | -11% | 10% | 21% | -9% | -7% | 41% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 105% |
Monthly Win Rates [3] | |||||||
| XBP Win Rate | - | - | 0% | 33% | 42% | 50% | |
| Peers Win Rate | 65% | 50% | 57% | 58% | 52% | 40% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| XBP Max Drawdown | - | - | - | -84% | -97% | -76% | |
| Peers Max Drawdown | -19% | -33% | -30% | -22% | -34% | -36% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: CNDT, G, EXLS, IRM, OTEX.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/19/2026 (YTD)
How Low Can It Go
| Event | XBP | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -25.8% | -18.8% |
| % Gain to Breakeven | 34.9% | 23.1% |
| Time to Breakeven | 5 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -14.7% | -7.8% |
| % Gain to Breakeven | 17.2% | 8.5% |
| Time to Breakeven | 93 days | 18 days |
In The Past
XBP Global's stock fell -25.8% during the 2025 US Tariff Shock. Such a loss loss requires a 34.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
| Event | XBP | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -25.8% | -18.8% |
| % Gain to Breakeven | 34.9% | 23.1% |
| Time to Breakeven | 5 days | 79 days |
In The Past
XBP Global's stock fell -25.8% during the 2025 US Tariff Shock. Such a loss loss requires a 34.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About XBP Global (XBP)
XBP Global, trading as XBP Europe Holdings, Inc., specializes in providing a comprehensive suite of digital solutions for managing bills, payments, and various related business processes. The company operates across key European markets including France, Germany, the United Kingdom, and Sweden, with an international presence, focusing on enhancing the efficiency and security of financial and information workflows for its clientele.
At the core of XBP's offerings is its proprietary XBP platform, which delivers a range of essential services. These include secure messaging and "request to pay" solutions, along with robust enterprise information management and digital mailroom capabilities for records digitization. The platform also provides advanced business process management and intelligent workflow automation tools, complemented by integrated communications solutions.
XBP Global primarily serves the banking and financial industry, offering specialized services such as cross-border payments, digitization of checks, confirmation of payee solutions, and comprehensive mortgage and loan management. Beyond finance, its integrated communications and workflow automation services are valuable to enterprises across various sectors seeking to optimize their digital processes and secure sensitive information.
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Here are 1-3 brief analogies for XBP Global (XBP):
- Like Fiserv or FIS, but focused on digitizing and automating payment and financial document processes for banks and large enterprises.
- Like Accenture or Cognizant, but specialized in digital transformation and automation for financial operations and payments.
- Like Bill.com for large enterprises, managing and automating all their billing, payment, and associated document workflows.
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- XBP Platform: Provides secure messaging services.
- Request to Pay Solutions: Solutions facilitating payment requests.
- Enterprise Information Management Solutions: Helps organizations manage and organize their information effectively.
- Digital Mailroom and Records Digitization Solutions: Services for converting physical mail and records into digital formats.
- Business Process Management and Intelligent Workflow Automation Solutions: Automates and optimizes various business processes and workflows.
- Integrated Communications Solution: Offers unified and streamlined communication tools and services.
- Banking and Financial Industry Solutions and Services: Provides specialized solutions tailored for the banking and financial sector.
- Cross-Border Payments: Facilitates international payment transactions across different countries.
- Digitization of Checks: Converts physical checks into a digital format for processing.
- Confirmation of Payee: A service to verify the intended recipient's details before making a payment.
- Mortgage and Loan Management Solutions: Tools and services for managing mortgage and loan-related processes.
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XBP Global (XBP) sells primarily to other companies, providing a suite of solutions and services related to bills, payments, enterprise information management, and business process automation.
Specific major customer names are not publicly disclosed in the company's available financial reports or public descriptions.
Based on the services offered, XBP primarily serves the following categories of business customers:
- Financial Institutions: This includes banks, credit unions, mortgage lenders, and other financial services companies that leverage XBP's solutions for banking and financial industry services, cross-border payments, digitization of checks, confirmation of payee, and mortgage and loan management solutions.
- Large Enterprises: Companies across various industries that require secure messaging services, enterprise information management solutions, digital mailroom and records digitization, business process management, intelligent workflow automation, and integrated communications solutions.
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- Exela Technologies, Inc. (XELA)
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Andrej Jonovic, Chief Executive Officer
Andrej Jonovic was appointed CEO of XBP Global in November 2023. Prior to this, he served as CEO of XBP Europe and Executive Vice President at Exela Technologies, Inc. Before his tenure at Exela Technologies, Mr. Jonovic was a managing director in the family office of HGM, where he oversaw the integration of BancTec's European operations with SourceHOV in 2014. He began his career as a transactional lawyer and M&A strategist at Freshfields Bruckhaus Deringer LLP.
Dejan Avramovic, Chief Financial Officer
Dejan Avramovic serves as the Chief Financial Officer of XBP Europe. His background includes prior roles at Exela Technologies, Inc. and Deloitte. He possesses experience in global finance, merger and acquisition transaction services, and audit management.
Par Chadha, Executive Chairman
Par Chadha is the Executive Chairman of XBP Global Holdings, Inc. He is also the founder, Chief Executive Officer, and Chief Investment Officer of HandsOn Global Management LLC (HGM), a family office established in 2001. With over four decades of experience, Mr. Chadha has built businesses across the Americas, Europe, and Asia, leading numerous strategic acquisitions, operational turnarounds, and technology integrations. He has served as Chairman of companies such as SourceHOV (acquired by Exela in 2017) and Lason Inc. (merged with SourceCorp). Mr. Chadha co-founded Rule 14, LLC, an artificial intelligence-led automation company, and has been involved in founding various technology companies. His work at HGM focuses on deploying capital into high-growth business platforms and scaling public and private enterprises.
Vitalie Robu, President, Europe
Vitalie Robu holds the position of President of XBP Europe, also referred to as President, EMEA (Europe, Middle East, and Africa).
Sandeep Sapru, President, Americas & Asia
Sandeep Sapru serves as the President for the Americas & Asia regions at XBP Global.
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The key risks to XBP Global's business include:
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Financial Instability and Liquidity Concerns: XBP Global has faced substantial shareholder dilution in the past year and operates with less than one year of cash runway. The company's earnings have declined significantly, and it has a "High Risk" Financial Health Rating, alongside reported net operating cash outflows. A substantial accumulated deficit indicates a long-term struggle with profitability, and its overall financial performance is characterized by declining revenues, persistent losses, and high leverage, raising concerns about its ability to achieve sustained profitability.
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Acquisition and Integration Risks: The company recently formed through the acquisition of Exela Technologies BPA, LLC. This acquisition carries inherent risks, including the potential inability to realize anticipated benefits, disruptions to operations, and associated costs. Merging large entities can lead to operational complexity and potential disruptions to client relationships. Furthermore, the acquisition was contingent on a corporate reorganization of BPA, introducing uncertainty about the transaction's viability and the assurance of its consummation.
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Competition and Rapid Technological Change: XBP Global operates in a business process automation industry characterized by intense competition, rapid technological advancements, and evolving industry standards. The company must continuously innovate and adapt to meet client needs, particularly concerning the adoption of AI technologies, to avoid losing market share and clients.
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The rapid advancement and adoption of highly sophisticated, generative AI-driven platforms for document understanding, data extraction, and intelligent workflow automation pose a clear emerging threat to XBP Global's offerings in digital mailroom, records digitization, enterprise information management, and business process automation solutions. These AI technologies are developing capabilities that could perform these functions with greater efficiency, accuracy, and autonomy, potentially rendering XBP's existing solutions less competitive or even obsolete if not continuously integrated and evolved.
The global expansion and increasing maturity of instant, real-time payment infrastructures (e.g., FedNow, SEPA Instant Credit Transfer, UPI) and open banking initiatives present a clear emerging threat. These systems aim to streamline and commoditize payment processing, enabling direct, immediate, and often lower-cost transactions. This could diminish the value proposition of XBP Global's traditional intermediary services, particularly those focused on legacy methods like the digitization of checks or more complex cross-border payments that do not fully leverage these new, efficient rails.
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XBP Global (symbol: XBP) operates in several significant addressable markets globally and within Europe, encompassing enterprise information management, business process management, intelligent workflow automation, and various payment and loan management solutions.
Enterprise Information Management (EIM) and Related Solutions
- The global Enterprise Information Management (EIM) solutions market is projected to be valued at US$ 80.6 billion in 2026 and is expected to reach US$ 208.3 billion by 2033, growing at a Compound Annual Growth Rate (CAGR) of 14.5%.
- A related market, global Enterprise Data Management (EDM), was estimated at USD 115.32 billion in 2025 and is projected to reach USD 311.95 billion by 2034, with a CAGR of 11.69%. Another estimate for the global EDM market places its size at USD 110.53 billion in 2024, growing to USD 221.58 billion by 2030 with a CAGR of 12.4%.
- In Europe, the Enterprise Content Management (ECM) market was valued at $10.1 billion in 2025 and is anticipated to grow at a CAGR of 10.9% during 2026-2035. Other sources estimate the Europe ECM market at USD 9,656.9 million in 2024, expected to reach US$ 20,524.9 million by 2030 with a CAGR of 13.8% from 2025 to 2030. Another report suggests the Europe ECM market was approximately USD 2.5 billion in 2024, with a projection to reach USD 7.8 billion by 2032, exhibiting a CAGR of 15.3% from 2025 to 2032. The Europe Enterprise Content Management Market is also expected to witness a market growth of 15.8% CAGR during the forecast period of 2024-2031.
- The Europe Content Management Software market, which is closely related, reached USD 11.57 billion in 2025 and is expected to grow to USD 12.67 billion in 2026, with a projection to reach USD 26.29 billion by 2034, at a CAGR of 9.55% from 2026 to 2034.
Business Process Management (BPM) and Intelligent Workflow Automation
- The global Business Process Management (BPM) market is expected to be valued at US$ 20.2 billion in 2026 and is projected to reach US$ 63.8 billion by 2033, growing at a CAGR of 17.9%. Other estimates for the global BPM market size range from USD 21.51 billion in 2025, projected to grow to USD 91.87 billion by 2034 (CAGR 17.2%), to USD 17.5 billion in 2025, reaching USD 38.1 billion by 2034 (CAGR 9.02%). It was also estimated at USD 20.38 billion in 2024, anticipated to reach USD 61.17 billion by 2030 (CAGR of 20.3%).
- The global workflow automation market size was valued at USD 25.10 billion in 2025, projected to grow from USD 27.91 billion in 2026 to USD 65.26 billion by 2034, exhibiting a CAGR of 11.20%. Another report states it was valued at USD 23.77 billion in 2025 and is estimated to grow from USD 26.01 billion in 2026 to reach USD 40.77 billion by 2031, at a CAGR of 9.41%.
- The global Intelligent Process Automation (IPA) market was estimated at USD 14.55 billion in 2024 and is projected to reach USD 44.74 billion by 2030, growing at a CAGR of 22.6%. Another source estimates the global IPA market size at USD 15.2 billion in 2024, projected to grow to USD 48.8 billion by 2034 with a CAGR of 14.3% from 2025.
Payments and Financial Services Solutions
- The global cross-border payments market size was estimated at USD 212.55 billion in 2024 and is projected to reach USD 320.73 billion by 2030, growing at a CAGR of 7.1%. The total addressable market (TAM) for cross-border payments globally was reported at $208 trillion in 2025, with the retail cross-border industry TAM at $44 trillion in 2025, growing to $67.3 trillion in 2033 at a CAGR of 5.5%. Another estimate places the global cross border payment market size at USD 371.59 billion in 2025, projected to grow from USD 397.37 billion in 2026 to USD 727.74 billion by 2034, exhibiting a CAGR of 7.90%.
- The global digital payments market size was valued at USD 95.5 trillion in 2022 and is projected to reach USD 457.8 trillion by 2032, growing at a CAGR of 17.2% from 2023 to 2032. Other estimates for the global digital payments market include USD 114.41 billion in 2024, projected to reach USD 361.30 billion by 2030 (CAGR 21.4%), and USD 119.40 billion in 2024, expected to grow to USD 578.33 billion by 2033 (CAGR 19.16%).
- The global real-time payments market size was valued at USD 17.57 billion in 2022 and is projected to reach USD 198.08 billion by 2030, growing at a CAGR of 35.5%.
- The Europe payment processing solutions market was valued at USD 20.60 billion in 2025, is forecast to reach USD 22.46 billion in 2026, and is expected to reach USD 44.93 billion by 2034, growing at a CAGR of 9.05% from 2026 to 2034. Another source indicates the payment processing solutions market in Europe generated a revenue of USD 14,458.3 million in 2023, expected to reach US$ 35,181.9 million by 2030, with a CAGR of 13.5% from 2024 to 2030.
- The Europe real-time payments market size is USD 7.96 billion in 2026 and is forecast to reach USD 13.1 billion by 2031 at a 10.46% CAGR.
- The global payments market (broader category) reached a value of nearly $716.3 billion in 2024, expected to grow to $1.11 trillion in 2029 at a rate of 9.31%, and reach $1.77 trillion in 2034 with a CAGR of 9.74% from 2029.
Mortgage and Loan Management Solutions
- The global Mortgage and Loans Software Market size was valued at approximately USD 27.1 billion in 2026 and is expected to reach USD 97 billion by 2035, growing at a CAGR of about 15.1% from 2026 to 2035.
- The global loan management software market size grew from $12 billion in 2025 to $14.13 billion in 2026 at a CAGR of 17.7%, and is expected to reach $26.94 billion in 2030 at a CAGR of 17.5%. Another source estimates the global loan management software market was valued at $7.268 billion in 2024, projected to reach $17.49 billion by 2035, at an 8.31% CAGR from 2025.
- The global Digital Mortgage Software market (a subset of mortgage and loan software) size in 2025 is estimated at USD 173.08 million, poised to grow to USD 385.83 million by 2034.
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XBP Global (symbol: XBP) anticipates several key drivers for future revenue growth over the next 2-3 years, primarily stemming from its recent strategic initiatives and technological advancements.
Here are 3-5 expected drivers of future revenue growth:
- Strategic Acquisition and Integration of Exela Technologies BPA, LLC: The acquisition of Exela Technologies BPA, LLC by XBP Europe Holdings, Inc., leading to the formation of XBP Global Holdings, Inc. on July 30, 2025, is projected to be a primary catalyst for revenue growth. This strategic move is expected to boost the combined entity's annual revenue to over $900 million, significantly expanding XBP Global's global footprint and client base. This expansion provides immediate scale and opportunities for cross-selling and upselling to a larger, more diverse customer portfolio.
- Expansion of AI-enabled and Agentic AI-powered Workflow Solutions: XBP Global is making substantial strategic investments in artificial intelligence, specifically deploying agentic AI-powered workflow solutions across critical sectors such as healthcare, banking, and the public sector. These advanced technologies are designed to enhance operational efficiency, reduce manual workloads for clients, and deliver measurable value, thereby attracting new clients and deepening engagement with existing ones.
- Enhanced Global Scale and Market Penetration: The combined entity now operates with an expanded global presence across 19 to 20 countries, serving over 2,500 clients, including a significant number of Fortune 100 companies. This increased scale and diversified geographical and client base are expected to facilitate deeper market penetration and enable the company to capture new opportunities in various regions.
- Operational Efficiencies and Automation: While directly impacting profitability, improvements in operational efficiencies fueled by automation are also expected to contribute to revenue growth by making XBP Global's offerings more competitive and scalable. The company aims to replicate the gross margin growth seen in its Bills & Payments segment within its Applied Workflow Automation segment, indicating a strategic focus on optimizing service delivery to support sustained growth.
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Share Repurchases
No significant share repurchase programs or activities were identified for XBP Global (formerly XBP Europe Holdings, Inc.) within the last 3-5 years.
Share Issuance
- In July 2025, XBP Europe issued approximately 81.8 million new shares of common stock, valued at $4.98 per share, as part of the acquisition of Exela Technologies BPA, LLC.
- XBP Global executed a 1-for-10 reverse stock split in December 2025.
- Shareholders experienced substantial dilution in the past year.
Inbound Investments
- As part of its Chapter 11 reorganization in July 2025, XBP Global Holdings, Inc. secured credit facilities totaling up to $150 million.
- Towards the end of 2023, XBP Europe Holdings, Inc. received $5.2 million in net proceeds from its business combination with CF Acquisition Corp. VIII.
Outbound Investments
- XBP Europe Holdings, Inc. completed the acquisition of Exela Technologies BPA, LLC in July 2025, subsequently rebranding as XBP Global Holdings, Inc.
- This acquisition is projected to increase XBP Global's annual revenue to approximately $900 million.
Capital Expenditures
- Capital expenditures were reported as $2.33 million in fiscal year 2023 and $1.26 million in fiscal year 2024.
- In 2022, capital expenditures were higher at 3.5% of revenue, primarily due to the purchase of the company's Irish headquarters in Dublin, Ireland.
- Capital expenditures in Q3 2024 increased to 2.0% of revenue (up from 0.7% in Q3 2023), largely driven by higher investments for growth. The company also invested in artificial intelligence and accelerated migration to the cloud.
Peer Outperformance in Systems Software
null| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Electronic Manufacturing Services | 9 | 66.2% | 217.0% | 336.9% | FLEX 770% · TTMI 729% · JBL 450% |
| Semiconductor Materials & Equipment | 27 | 157.9% | 81.2% | 129.3% | AEHR 1838% · AXTI 753% · KLAC 514% |
| Technology Distributors | 9 | 21.3% | 59.6% | 74.1% | CLMB 337% · AVT 153% · SNX 114% |
| Electronic Components | 26 | 63.1% | 63.2% | 60.4% | CLS 3340% · BELFA 1394% · LPTH 616% |
| Communications Equipment | 35 | 39.6% | 86.5% | 49.3% | AAOI 1746% · LITE 878% · FEIM 710% |
| Semiconductors | 54 | 32.0% | 45.1% | 35.0% | POET 1972% · MU 1268% · NVDA 949% |
| Technology Hardware, Storage & Peripherals | 22 | 35.0% | 78.8% | 27.2% | STX 981% · WDC 934% · SMCI 926% |
| Internet Services & Infrastructure | 6 | 13.7% | 38.3% | 19.3% | DOCN 119% · GDDY 37% · VRSN 30% |
| Electronic Equipment & Instruments | 27 | -1.3% | 14.3% | -2.7% | PI 229% · SOTK 129% · NSSC 126% |
| IT Consulting & Other Services | 28 | -24.2% | -6.5% | -18.6% | CHRN 623584% · APLD 2082% · TSSI 731% |
| Application Software | 123 | -19.0% | -6.8% | -42.4% | VIDA 125456% · INLX 5620% · PLTR 630% |
| Systems Software ← | 69 | -9.0% | 21.1% | -49.1% | QNC 958% · PANW 487% · PAYS 443% |
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Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 30.45 |
| Mkt Cap | 5.8 |
| Rev LTM | 4,019 |
| Op Inc LTM | 561 |
| FCF LTM | 125 |
| FCF 3Y Avg | 115 |
| CFO LTM | 486 |
| CFO 3Y Avg | 448 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 10.1% |
| Rev Chg 3Y Avg | 9.8% |
| Rev Chg Q | 5.0% |
| QoQ Delta Rev Chg LTM | 1.2% |
| Op Inc Chg LTM | 14.0% |
| Op Inc Chg 3Y Avg | 11.9% |
| Op Mgn LTM | 15.0% |
| Op Mgn 3Y Avg | 14.7% |
| QoQ Delta Op Mgn LTM | -0.0% |
| CFO/Rev LTM | 13.5% |
| CFO/Rev 3Y Avg | 13.4% |
| FCF/Rev LTM | 3.9% |
| FCF/Rev 3Y Avg | 4.7% |
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Applied Workflow Automation | 816 | ||||
| Technology | 56 | 45 | 44 | 40 | 40 |
| Bills & Payments | 110 | 137 | 166 | 178 | |
| Total | 873 | 155 | 180 | 206 | 218 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Technology | 22 | 25 | 21 | 19 | 18 |
| Bills & Payments | 16 | 15 | 23 | 22 | 25 |
| Depreciation and amortization | -3 | -3 | -4 | -5 | -6 |
| Related party expense | -5 | -5 | -8 | -10 | -11 |
| Selling, general and administrative expenses (exclusive of depreciation and amortization) | -27 | -31 | -33 | -30 | -44 |
| Total | 3 | 1 | -2 | -4 | -19 |
Price Behavior
| Market Price | $2.83 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 11/30/2023 | |
| Distance from 52W High | -77.9% | |
| 50 Days | 200 Days | |
| DMA Price | $2.69 | $4.59 |
| DMA Trend | down | up |
| Distance from DMA | 5.3% | -38.3% |
| 3M | 1YR | |
| Volatility | 88.4% | 911.2% |
| Downside Capture | -4.28 | 220.98 |
| Upside Capture | 70.09 | 88.39 |
| Correlation (SPY) | -5.4% | 0.0% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.32 | -0.42 | -0.59 | 0.37 | -0.11 | 0.16 |
| Up Beta | -9.32 | -4.62 | -3.58 | -0.59 | -1.44 | -0.59 |
| Down Beta | 0.78 | 0.85 | 0.73 | 1.00 | 12.02 | 1.85 |
| Up Capture | 712% | 78% | -20% | -47% | 13% | -5% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 11 | 20 | 26 | 52 | 114 | 277 |
| Down Capture | 264% | -25% | -23% | 154% | 170% | 106% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 11 | 23 | 36 | 69 | 132 | 360 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with XBP | |
|---|---|---|---|---|
| XBP | -49.1% | 909.4% | 0.88 | - |
| Sector ETF (XLK) | 38.7% | 26.1% | 1.22 | -3.9% |
| Equity (SPY) | 20.7% | 12.8% | 1.19 | -0.1% |
| Gold (GLD) | 35.0% | 28.8% | 1.04 | 1.6% |
| Commodities (DBC) | 41.4% | 20.2% | 1.60 | -3.3% |
| Real Estate (VNQ) | 15.3% | 13.9% | 0.78 | 3.8% |
| Bitcoin (BTCUSD) | -44.7% | 42.7% | -1.27 | -8.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with XBP | |
|---|---|---|---|---|
| XBP | -56.9% | 571.2% | 0.43 | - |
| Sector ETF (XLK) | 20.0% | 25.9% | 0.69 | -1.2% |
| Equity (SPY) | 13.1% | 17.2% | 0.59 | 1.3% |
| Gold (GLD) | 20.4% | 18.6% | 0.89 | 1.8% |
| Commodities (DBC) | 9.8% | 19.6% | 0.39 | -0.2% |
| Real Estate (VNQ) | 2.4% | 18.9% | 0.03 | 4.1% |
| Bitcoin (BTCUSD) | 7.2% | 52.6% | 0.32 | -2.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with XBP | |
|---|---|---|---|---|
| XBP | -34.4% | 571.2% | 0.43 | - |
| Sector ETF (XLK) | 24.1% | 24.9% | 0.88 | -1.2% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 1.3% |
| Gold (GLD) | 12.5% | 16.2% | 0.63 | 1.8% |
| Commodities (DBC) | 7.9% | 18.1% | 0.35 | -0.2% |
| Real Estate (VNQ) | 4.9% | 20.7% | 0.20 | 4.1% |
| Bitcoin (BTCUSD) | 60.0% | 66.0% | 1.00 | -2.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 8/18/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/13/2026 | -2.3% | ||
| 5/14/2026 | -9.4% | 11.1% | 2.6% |
| 11/14/2025 | -2.1% | -9.9% | -21.1% |
| 8/14/2025 | -0.4% | 30.0% | 121.9% |
| 5/15/2025 | -2.5% | -5.7% | -16.2% |
| 3/19/2025 | -5.5% | -4.7% | -15.6% |
| 11/12/2024 | -3.8% | -6.8% | -19.5% |
| 8/12/2024 | -5.5% | -3.9% | -4.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 0 | 2 | 2 |
| # Negative | 9 | 6 | 6 |
| Median Positive | 20.6% | 62.2% | |
| Median Negative | -3.8% | -6.3% | -17.9% |
| Max Positive | 30.0% | 121.9% | |
| Max Negative | -9.9% | -34.1% | -66.7% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/13/2026 | -2.3% | ||
| 5/14/2026 | -9.4% | 11.1% | 2.6% |
| 11/14/2025 | -2.1% | -9.9% | -21.1% |
| 8/14/2025 | -0.4% | 30.0% | 121.9% |
| 5/15/2025 | -2.5% | -5.7% | -16.2% |
| 3/19/2025 | -5.5% | -4.7% | -15.6% |
| 11/12/2024 | -3.8% | -6.8% | -19.5% |
| 8/12/2024 | -5.5% | -3.9% | -4.7% |
| 5/13/2024 | -9.9% | -34.1% | -66.7% |
| SUMMARY STATS | |||
| # Positive | 0 | 2 | 2 |
| # Negative | 9 | 6 | 6 |
| Median Positive | 20.6% | 62.2% | |
| Median Negative | -3.8% | -6.3% | -17.9% |
| Max Positive | 30.0% | 121.9% | |
| Max Negative | -9.9% | -34.1% | -66.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/14/2026 | 10-Q |
| 03/31/2026 | 05/15/2026 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 03/19/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/12/2024 | 10-Q |
| 03/31/2024 | 05/13/2024 | 10-Q |
| 12/31/2023 | 04/01/2024 | 10-K |
| 09/30/2023 | 11/29/2023 | 424B5 |
| 06/30/2023 | 10/10/2023 | S-1/A |
| 03/31/2023 | 08/04/2023 | DEFM14A |
| 09/30/2022 | 02/13/2023 | PREM14A |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/14/2026 | 10-Q |
| 03/31/2026 | 05/15/2026 | 10-Q |
| 06/30/2025 | 08/14/2025 | 10-Q |
| 03/31/2025 | 05/15/2025 | 10-Q |
| 12/31/2024 | 03/19/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/12/2024 | 10-Q |
| 03/31/2024 | 05/13/2024 | 10-Q |
| 12/31/2023 | 04/01/2024 | 10-K |
| 09/30/2023 | 11/29/2023 | 424B5 |
| 06/30/2023 | 10/10/2023 | S-1/A |
| 03/31/2023 | 08/04/2023 | DEFM14A |
| 09/30/2022 | 02/13/2023 | PREM14A |
Recent Forward Guidance
Updated 8/14/2026Latest: Q2 2026 Earnings Reported 8/13/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Annualized Operational Efficiencies | 65.00 Mil | 70.00 Mil | 75.00 Mil | 21.7% | Raised | Guidance: 57.50 Mil for 2026 | |
| 2026 2026 In-year Benefit | 35.00 Mil | ||||||
Investor Activity (13F)
Updated Aug 20, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
XBP Global — Investor Video Playlist
Industry Resources
| Information Technology Resources |
| TechCrunch |
| Wired |
| CIO |
| MIT Technology Review |
| Gartner Insights |
| Ars Technica |
| Systems Software Resources |
| CNET |
| ZDNet |
| Gartner |
| Software Development Times |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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