XBP Global (XBP)
Market Price (1/20/2026): $8.31 | Market Cap: $29.8 MilSector: Information Technology | Industry: Systems Software
XBP Global (XBP)
Market Price (1/20/2026): $8.31Market Cap: $29.8 MilSector: Information TechnologyIndustry: Systems Software
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 106%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 102% | Weak multi-year price returns2Y Excs Rtn is -127%, 3Y Excs Rtn is -171% | Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is -211 Mil |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 114% | ||
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -242% | ||
| High stock price volatilityVol 12M is 913% | ||
| Key risksXBP key risks include [1] potential Nasdaq delisting, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 106%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 102% |
| Weak multi-year price returns2Y Excs Rtn is -127%, 3Y Excs Rtn is -171% |
| Very low revenueRev LTMTotal Revenue or Sales, Last Twelve Months is -211 Mil |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 114% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -242% |
| High stock price volatilityVol 12M is 913% |
| Key risksXBP key risks include [1] potential Nasdaq delisting, Show more. |
Why The Stock Moved
Qualitative Assessment
AI Analysis | Feedback
1. Reverse Stock Split and Subsequent Trading: XBP Global announced a 1-for-10 reverse stock split on December 5, 2025, which became effective on December 12, 2025, with trading on a split-adjusted basis beginning December 15, 2025. This event significantly altered the nominal stock price, with some reports indicating a plunge following the announcement, although the underlying value for shareholders remained proportionate.
2. Regaining Nasdaq Compliance: On January 6, 2026, XBP Global announced it had regained compliance with Nasdaq's minimum bid price requirement. This positive development removed a significant delisting risk, and the stock posted a strong 8.22% return year-to-date at the time of the announcement.
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Stock Movement Drivers
Fundamental Drivers
The 37.4% change in XBP stock from 10/31/2025 to 1/19/2026 was primarily driven by a 37.4% change in the company's P/E Multiple.| 10312025 | 1192026 | Change | |
|---|---|---|---|
| Stock Price ($) | 5.91 | 8.12 | 37.39% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | -210.53 | -210.53 | 0.00% |
| Net Income Margin (%) | -14.68% | -14.68% | 0.00% |
| P/E Multiple | 0.69 | 0.94 | 37.39% |
| Shares Outstanding (Mil) | 3.59 | 3.59 | 0.00% |
| Cumulative Contribution | 37.39% |
Market Drivers
10/31/2025 to 1/19/2026| Return | Correlation | |
|---|---|---|
| XBP | 37.4% | |
| Market (SPY) | 1.4% | -1.4% |
| Sector (XLK) | -3.1% | -9.6% |
Fundamental Drivers
The -37.1% change in XBP stock from 7/31/2025 to 1/19/2026 was primarily driven by a -21.7% change in the company's P/E Multiple.| 7312025 | 1192026 | Change | |
|---|---|---|---|
| Stock Price ($) | 12.90 | 8.12 | -37.05% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | -216.53 | -210.53 | -2.77% |
| Net Income Margin (%) | -15.27% | -14.68% | -3.89% |
| P/E Multiple | 1.21 | 0.94 | -21.73% |
| Shares Outstanding (Mil) | 3.09 | 3.59 | -16.20% |
| Cumulative Contribution | -38.71% |
Market Drivers
7/31/2025 to 1/19/2026| Return | Correlation | |
|---|---|---|
| XBP | -37.1% | |
| Market (SPY) | 9.7% | -1.0% |
| Sector (XLK) | 11.0% | -7.2% |
Fundamental Drivers
The -21.2% change in XBP stock from 1/31/2025 to 1/19/2026 was primarily driven by a -253.3% change in the company's P/S Multiple.| 1312025 | 1192026 | Change | |
|---|---|---|---|
| Stock Price ($) | 10.30 | 8.12 | -21.17% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 343.92 | -210.53 | -161.22% |
| P/S Multiple | 0.09 | -0.14 | -253.29% |
| Shares Outstanding (Mil) | 3.02 | 3.59 | -19.03% |
| Cumulative Contribution | -24.02% |
Market Drivers
1/31/2025 to 1/19/2026| Return | Correlation | |
|---|---|---|
| XBP | -21.2% | |
| Market (SPY) | 15.9% | 1.2% |
| Sector (XLK) | 26.8% | -1.7% |
Fundamental Drivers
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Market Drivers
1/31/2023 to 1/19/2026| Return | Correlation | |
|---|---|---|
| XBP | ||
| Market (SPY) | 76.5% | 1.3% |
| Sector (XLK) | 118.6% | -1.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| XBP Return | - | - | -72% | -79% | -38% | 21% | -96% |
| Peers Return | 41% | -11% | 10% | 21% | -9% | 3% | 56% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 1% | 85% |
Monthly Win Rates [3] | |||||||
| XBP Win Rate | - | - | 0% | 33% | 42% | 100% | |
| Peers Win Rate | 65% | 50% | 57% | 58% | 52% | 60% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 100% | |
Max Drawdowns [4] | |||||||
| XBP Max Drawdown | - | - | -72% | -83% | -96% | 0% | |
| Peers Max Drawdown | -6% | -30% | -19% | -15% | -25% | -2% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | 0% | |
[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 1/16/2026 (YTD)
How Low Can It Go
XBP has limited trading history. Below is the Information Technology sector ETF (XLK) in its place.
| Event | XLK | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -34.0% | -25.4% |
| % Gain to Breakeven | 51.6% | 34.1% |
| Time to Breakeven | 278 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -31.5% | -33.9% |
| % Gain to Breakeven | 46.0% | 51.3% |
| Time to Breakeven | 79 days | 148 days |
| 2018 Correction | ||
| % Loss | -24.1% | -19.8% |
| % Gain to Breakeven | 31.8% | 24.7% |
| Time to Breakeven | 105 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -53.6% | -56.8% |
| % Gain to Breakeven | 115.3% | 131.3% |
| Time to Breakeven | 1,183 days | 1,480 days |
Compare to CNDT, G, EXLS, IRM, OTEX
In The Past
SPDR Select Sector Fund's stock fell -34.0% during the 2022 Inflation Shock from a high on 12/27/2021. A -34.0% loss requires a 51.6% gain to breakeven.
Preserve Wealth
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Asset Allocation
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AI Analysis | Feedback
Here are 1-3 brief analogies for XBP Global:
- It's like a technology-driven Accenture or Wipro for automating and digitizing the high-volume back-office operations of large enterprises.
- Imagine Iron Mountain for managing enterprise documents and data, combined with UiPath for automating the workflows around them.
- It's like ServiceNow for automating and digitizing a wider array of enterprise business processes beyond typical IT or HR, such as mail processing and financial transactions.
AI Analysis | Feedback
I am unable to identify a major public company named "XBP Global" with the stock symbol "XBP" for which product or service information is readily available.
Therefore, I cannot provide a list of its major products or services.
AI Analysis | Feedback
```htmlI am unable to identify the major customers for XBP Global (symbol: XBP) because my search indicates that XBP Global is not a real public company with this symbol.
Therefore, I cannot provide information regarding its major customers or customer categories as requested.
```AI Analysis | Feedback
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Andrej Jonovic, Chief Executive Officer
Mr. Jonovic is responsible for the development and execution of business strategy, shaping the company culture, and enhancing shareholder value at XBP Global. He previously served as Executive Vice President, Business Strategy and Corporate Affairs of Exela Technologies since July 2017, where he was responsible for oversight of M&A and strategic transactions, legal affairs, human resources, marketing, and the Digital Assets Group. Prior to Exela, he was a managing director in the family office of HGM, based in London, and oversaw the integration of BancTec's European operations with SourceHOV following their combination in October 2014. Earlier in his career, he was an associate at Freshfields Bruckhaus Deringer, LLP.
Dejan Avramovic, Chief Financial Officer
Mr. Avramovic is the Chief Financial Officer at XBP Global. Before joining XBP Global, he held positions at Exela Technologies and Deloitte. His experience includes global finance, merger and acquisition transaction services, and audit management.
Parvinder Chadha, Executive Chairman
Mr. Chadha is the Executive Chairman of XBP Global Holdings, Inc. He is the Founder, CEO, and CIO of HandsOn Global Management LLC (HGM), and Chairman of HGM Limited. Since founding HGM in 2001, he has led strategic acquisitions, operational turnarounds, and technology integrations across various markets, focusing on AI-driven process automation and digital transformation. He has also been a co-founder of technology companies in metro optical networks, systems-on-silicon, and communications. He previously held director and executive roles in HGM's portfolio companies.
Vitalie Robu, President, XBP Europe
Mr. Robu is the President of XBP Europe, responsible for all sales, operations, and business strategy functions across the EMEA region. He served as the President of the EMEA region and Chief Operating Officer of the EMEA region for Exela Technologies from the Novitex Business Combination until January 2019. He specializes in transaction processing services, technology products, and software solutions, with over 25 years of international management experience. Prior to the Novitex Business Combination, he was Senior Vice President, Operations for the European region of SourceHOV from 2014. From 2010 to 2014, Mr. Robu was President and Executive Director of DataForce UK, a business process outsourcing and software provider that was part of SourceHOV. He also served as Manager of Investment and Insurance Products for Citibank EMEA in London from 2007 to 2010.
AI Analysis | Feedback
The key risks to XBP Global (symbol: XBP) include its potential delisting from Nasdaq, the ongoing decline in its core business revenue, and significant weaknesses in its internal controls.
- Nasdaq Delisting Risk: XBP Global received a deficiency letter from Nasdaq in September 2025, indicating that its common stock's bid price had fallen below the required $1.00 minimum for 30 consecutive business days. The company has until March 16, 2026, to regain compliance by having its closing bid price meet or exceed $1.00 for at least ten consecutive business days. Failure to meet this requirement could result in the delisting of its common stock, posing an "existential threat" to the company.
- Declining Core Business Revenue: The Applied Workflow Automation segment, which accounts for 90% of XBP Global's revenue, experienced a 14% year-over-year decline in the third quarter of 2025. Stabilizing this revenue decline is considered a critical milestone for the company's investors. The overall reported revenue also showed a year-over-year decrease.
- Material Internal Control Weaknesses: XBP Global has identified material weaknesses in its internal controls, specifically concerning goodwill valuation and financial reporting processes. These deficiencies "undermine credibility and could complicate capital raising efforts," and are also cited as an "existential threat".
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XBP Global (symbol: XBP) is poised for future revenue growth over the next 2-3 years, driven by several key factors:
- Strategic Acquisition of Exela Technologies BPA: The completion of the acquisition of Exela Technologies BPA, LLC in July 2025 is a primary driver of significant revenue expansion. This strategic move is expected to boost XBP Global's annual revenue to approximately $900 million.
- Expanded Global Footprint and Client Base: The acquisition has substantially expanded XBP Global's operational presence to 20 countries and grown its client base to over 2,500, including many Fortune 100 companies. This broader reach and increased client portfolio are anticipated to fuel future revenue growth.
- Advancements in AI-Powered Workflow Automation: XBP Global is leveraging "Agentic AI" to drive digital transformation and enhance operational efficiency for its clients. The company has made significant investments in artificial intelligence, deploying AI-powered workflow solutions across critical sectors such as healthcare, banking, and the public sector, which is expected to be a key revenue catalyst.
- Continued Growth in Core Business Segments: Both of XBP Global's primary business segments, Bills & Payments and Technology, demonstrated strong year-over-year revenue increases in Q2 2025, with Bills & Payments growing by 15.9% and Technology by 23.2%. This sustained organic growth within its established offerings is expected to contribute consistently to overall revenue.
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Share Issuance
- In July 2025, XBP Europe issued approximately 81.8 million new shares of common stock at a value of $4.98 per share, representing an overall equity valuation of $585.7 million for the company. This issuance was part of the acquisition of Exela Technologies BPA, LLC and led to the elimination of $1.1 billion of BPA's secured debt. [cite: 1st search result 4, 1st search result 6, 1st search result 9, 1st search result 13, 1st search result 17, 12, 13]
- In July 2025, stockholders approved an amendment to the 2024 Stock Incentive Plan, authorizing an increase of 5,000,000 shares, with a conditional further increase to ensure the total equals 10% of outstanding Common Stock post-restructuring. [cite: 1st search result 19]
- On July 29, 2025, the company's authorized shares were increased to 400,000,000 shares of Common Stock and 20,000,000 shares of preferred stock. [cite: 1st search result 19]
Inbound Investments
- As part of its reorganization under Chapter 11 on July 29, 2025, XBP Global Holdings, Inc. secured agreements for up to $150 million in credit facilities. [cite: 1st search result 19]
Outbound Investments
- XBP Europe Holdings, Inc. completed the acquisition of Exela Technologies BPA, LLC in July 2025, subsequently rebranding as XBP Global Holdings, Inc. [cite: 1st search result 1, 1st search result 4, 1st search result 6, 1st search result 9, 1st search result 17, 12, 13]
- The acquisition involved XBP Europe issuing approximately 81.8 million new shares of common stock, valued at $4.98 per share, and resulted in the elimination of $1.1 billion of BPA's secured debt. [cite: 1st search result 4, 1st search result 6, 1st search result 9, 1st search result 13, 1st search result 17, 12, 13]
- This strategic investment is projected to expand XBP Global's annual revenue to approximately $900 million. [cite: 1st search result 4, 1st search result 6, 1st search result 9, 1st search result 13, 1st search result 17, 12, 13]
Capital Expenditures
- Capital expenditures for XBP Global Holdings were reported as follows: $2.19 million in FY 2020, $1.92 million in FY 2021, $6.37 million in FY 2022, $2.33 million in FY 2023, $1.26 million in FY 2024, and $2.59 million for the trailing twelve months ending June 30, 2025.
- In Q2 2024, capital expenditures were 0.9% of revenue, a reduction from 3.2% in Q2 2023, primarily due to less investment in property, plant & equipment.
- In Q3 2024, capital expenditures increased to 2.0% of revenue, up from 0.7% in Q3 2023, largely due to higher investments for growth.
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Peer Comparisons for XBP Global
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 36.48 |
| Mkt Cap | 7.3 |
| Rev LTM | 4,041 |
| Op Inc LTM | 530 |
| FCF LTM | 137 |
| FCF 3Y Avg | 100 |
| CFO LTM | 534 |
| CFO 3Y Avg | 440 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -0.1% |
| Rev Chg 3Y Avg | 10.1% |
| Rev Chg Q | 9.4% |
| QoQ Delta Rev Chg LTM | 2.2% |
| Op Mgn LTM | 15.1% |
| Op Mgn 3Y Avg | 14.6% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 16.7% |
| CFO/Rev 3Y Avg | 14.3% |
| FCF/Rev LTM | 12.8% |
| FCF/Rev 3Y Avg | 11.4% |
Segment Financials
Revenue by Segment| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Bills & Payments | 110 | 137 | 166 | 178 | 209 |
| Technology | 45 | 44 | 40 | 40 | 43 |
| Total | 155 | 180 | 206 | 218 | 252 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Technology | 25 | 21 | 19 | 18 | 17 |
| Bills & Payments | 15 | 23 | 22 | 25 | 34 |
| Depreciation and amortization | -3 | -4 | -5 | -6 | -9 |
| Related party expense | -5 | -8 | -10 | -11 | -11 |
| Selling, general and administrative expenses (exclusive of depreciation and amortization) | -31 | -33 | -30 | -44 | -32 |
| Total | 1 | -2 | -4 | -19 | -2 |
Price Behavior
| Market Price | $8.12 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 11/30/2023 | |
| Distance from 52W High | -50.2% | |
| 50 Days | 200 Days | |
| DMA Price | $6.07 | $8.16 |
| DMA Trend | down | down |
| Distance from DMA | 33.7% | -0.4% |
| 3M | 1YR | |
| Volatility | 1,839.3% | 918.7% |
| Downside Capture | 28.93 | 136.94 |
| Upside Capture | 304.16 | 84.74 |
| Correlation (SPY) | -1.8% | 1.2% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -17.38 | -2.11 | -1.82 | -1.45 | 0.59 | 4.72 |
| Up Beta | 2.24 | 5.02 | 2.08 | -2.70 | 0.35 | 0.27 |
| Down Beta | 160.05 | 93.93 | 42.05 | 25.83 | 7.49 | -4.24 |
| Up Capture | -120% | 203% | 87% | 96% | 57% | -4% |
| Bmk +ve Days | 11 | 23 | 37 | 72 | 143 | 431 |
| Stock +ve Days | 11 | 22 | 28 | 63 | 121 | 215 |
| Down Capture | -78% | 74% | 179% | 196% | 123% | 101% |
| Bmk -ve Days | 11 | 18 | 27 | 55 | 108 | 320 |
| Stock -ve Days | 10 | 18 | 35 | 63 | 123 | 282 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
nullBased On 5-Year Data
nullBased On 10-Year Data
nullEarnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/14/2025 | -2.1% | -9.9% | -21.1% |
| 8/14/2025 | -0.4% | 30.0% | 121.9% |
| 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% |
| 4/1/2024 | -1.9% | -5.7% | -38.1% |
| SUMMARY STATS | |||
| # Positive | 0 | 1 | 1 |
| # Negative | 6 | 5 | 5 |
| Median Positive | 30.0% | 121.9% | |
| Median Negative | -2.9% | -5.7% | -19.5% |
| Max Positive | 30.0% | 121.9% | |
| Max Negative | -5.5% | -9.9% | -38.1% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2025 | 08/14/2025 | 10-Q (06/30/2025) |
| 03/31/2025 | 05/15/2025 | 10-Q (03/31/2025) |
| 12/31/2024 | 03/19/2025 | 10-K (12/31/2024) |
| 09/30/2024 | 11/12/2024 | 10-Q (09/30/2024) |
| 06/30/2024 | 08/12/2024 | 10-Q (06/30/2024) |
| 03/31/2024 | 05/13/2024 | 10-Q (03/31/2024) |
| 12/31/2023 | 04/01/2024 | 10-K (12/31/2023) |
| 09/30/2023 | 11/29/2023 | 424B5 (09/30/2023) |
| 06/30/2023 | 10/10/2023 | S-1/A (06/30/2023) |
| 03/31/2023 | 08/04/2023 | DEFM14A (03/31/2023) |
| 09/30/2022 | 02/13/2023 | PREM14A (09/30/2022) |
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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