XBP Global Holdings, Inc. Reports First Quarter 2026 Financial Results

IRVING, Texas, May 14, 2026 (GLOBE NEWSWIRE) -- XBP Global Holdings, Inc. (“XBP Global” or “the Company”) (NASDAQ: XBP), a multinational technology and services company orchestrating mission-critical systems that enable hyper-automation and digital transformation, today announced its financial results for the quarter ended March 31, 2026. First Quarter 2026 Highlights Revenue totaled $197.1 million, a decline of 14.2% year-over-year on a pro forma basis1 Gross margin was 22.9%, a 70 basis point increase year-over-year on a pro forma basis1 Net loss of $26.8 million Normalized EBITDA2 of $15.6 million, a decrease of 39.9% year-over-year on a pro forma basis1 Closed $108.1 million of total TCV, a 68.8% increase year-over-year and 45.1% above the trailing four quarter average1,3 Closed $27.3 million of new ACV, a 3.7% decrease year-over-year and 4.4% above the trailing four quarter average1,3 The Company expects to achieve $55 to $60 million in annualized operational efficiencies resulting from Company-wide automation efforts, with a significant portion of the underlying actions implemented during the first half of 2026 The Company expects an approximate 20% reduction in global headcount by the end of 2026, subject to the timing and execution of its automation initiatives compared to year-end 2025, as the Company transitions to a high-productivity, AI-first operating model Announced approval by XBP's Board of Directors to initiate a formal process to explore strategic alternatives to enhance value for all stakeholders Results reflect an ongoing transition in the Company's operating model, with revenue and earnings trends impacted by legacy contract dynamics, while bookings and pipeline growth are expected to support future performance “Disciplined management and increased automation have resulted in our third consecutive quarter of margin expansion, and we believe these efforts will support a more substantial uplift in the coming quarters,” said Andrej Jonovic, CEO of XBP Global.