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Hexaware Delivers Strong CY24 Performance with $1,429 Mn Revenue Up 13.7% YoY

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Q4CY24 Revenue at $372.3 Mn Up 18.5% YoY | Q4CY24 EBITDA Expansion of 326 bps YoY
Q4CY24 EPS at INR 5.25 Expansion of 65.1% YoY

ISELIN, N.J., March 7, 2025 /PRNewswire/ — Hexaware Technologies (NSE: HEXT), a leading global provider of IT solutions and services, today announced financial results for the fourth quarter of calendar year 2024 ended December 31, 2024.

Financial Summary and Highlights

USD Mn

INR Mn

Q4CY24

QoQ (%)

YoY (%)

Q4CY24

QoQ (%)

YoY (%)

Revenue

372.3

(0.5 %)

18.5 %

31,544

0.6 %

20.6 %

EBITDA

60.7

1.3 %

48.0 %

5,140

2.3 %

50.7 %

PAT

38.0

6.4 %

64.5 %

3,207

7.0 %

66.3 %

 

CY24

USD Mn

CY24

YoY (%)

Revenue

1,428.9

13.7 %

EBITDA

227.2

18.1 %

PAT

140.1

16.2 %

 

Constant Currency Growth

CY24

Q4CY24

YoY %

QoQ %

YoY %

Revenue

13.5 %

0.2 %

18.8 %

Revenue:

Q4CY24: USD 372 Mn | INR 31,544 MnUSD: (0.5%) QoQ and +18.5% YoY | INR: +0.6% QoQ and +20.6% YoYConstant Currency: +0.2% QoQ and +18.8% YoYCY24: $1,429 Mn | INR 119,744 MnUSD: +13.7% YoY | INR: +15.4% YoYConstant Currency: +13.5% YoY

Profitability:

Reported EBITDA:Q4CY24: 16.3% | +2.3% QoQ & +50.7% YoY in absolute terms | +28 bps QoQ & +326 bps YoY in % termsCY24: 15.9% | +19.8% YoY in absolute terms | +59 bps YoY in % termsBasic EPS: Q4CY24: INR 5.25| +5.4% QoQ & +65.1% YoYCY24: INR 19.37 | +17.8% YoY

Key Client Metrics:

Added 1 customer in the $100 Mn+ categoryAdded 4 customers in the $20 Mn+ category: 15 in CY24 vs 11 in CY23Top 10 customers revenue concentration: 35.8% in CY24

Key People Metrics:

Closing Headcount: 32,309, Net added 4,017 since Q4CY23Voluntary Attrition for IT(1): 10.8%Q4CY24 Utilization Rate for IT(2): 81.6%

Other Key Metrics:

DSO (Billed + Unbilled) at 65 in Q4CY24, of which Billed is 38CY24 Adjusted Cash Conversion % at 74.5%Strong Cash and Cash Equivalents position as of 31st December 2024 INR 1,977 CrINR 8.75 per share of dividend paid in CY24

Leadership Speak

“We are delighted to be public again. Materially outperforming industry growth with 18.5% YoY Q4CY24 revenue growth reflects the strength of Hexaware’s foundations: putting clients first, creating a home for great talent, and using platforms for real impact. We look forward to building on this momentum for a great CY25,” said R Srikrishna, CEO and Executive Director, Hexaware.

“CY24 performance underlines the resilience of our business model. We clocked strong revenue growth of 13.7% YoY for CY24 while expanding margins at the same time and delivering 18.1% operating margin growth YoY. Our razor-sharp focus on cash flow helped yield OCF to Adjusted EBITDA of 74%+,” said Vikash Jain, CFO, Hexaware.

Financial Performance

Revenue Performance by Vertical

In USD Million

Q4CY24
QoQ

Q4CY24
YoY

CY24
YoY

Financial Services

3.5 %

25.0 %

19.1 %

Healthcare and Insurance

(2.4 %)

16.0 %

10.9 %

Manufacturing and Consumer

(6.9 %)

(0.8 %)

4.5 %

High Tech and Professional Services

1.4 %

38.4 %

22.5 %

Banking

6.4 %

15.0 %

7.6 %

Travel and Transportation

(7.6 %)

11.2 %

13.3 %

Total Revenue

(0.5 %)

18.5 %

13.7 %

Revenue Performance by Geography

In USD Million

Q4CY24
QoQ

Q4CY24
YoY

CY24
YoY

Americas

2.3 %

24.1 %

17.7 %

Europe

(9.7 %)

2.7 %

3.0 %

Asia Pacific

(4.0 %)

8.3 %

6.5 %

Total Revenue

(0.5 %)

18.5 %

13.7 %

Key Wins

Modernizing workflows and user interfaces by replacing Appian with AWS cloud-native solutions and implementing ServiceNow ITSM for a large secondary mortgage provider in the USGenAI-based legacy modernization project using our proprietary GenAI model to extract business rules and blueprint the application to a new technology stack for a major airline in the USInfrastructure operations with AI-first transition to mitigate operational risks and enhance service quality for a global supply chain management and logistics services company in the USDigital banking implementation and maintenance for a large bank in Southeast AsiaCybersecurity services for a UK-based global provider of financial markets data and infrastructureRedesigning and rebuilding the eDiscovery platform and workflow, leveraging our AI-driven platform engineering and product road-mapping expertise for a global leader in eDiscovery, document review, risk management, and legal consulting services

Furthermore, the presentation for investors (s) / analysts (s), along with the transcript of the call, will be available on the company’s website at www.hexaware.com.

Notes: (1) Voluntary attrition rate for the IT service line is calculated as the total number of IT business professionals and support function professionals who left the company voluntarily during a period, divided by the average number of IT business professionals and support function professionals during the period, computed on a trailing twelve-month basis. (2) Utilization rate for IT is calculated as the total hours IT business professionals spend on customer-billed assignments, divided by the total available base hours. IT business professionals designated as Mavericks (campus hires) are included in the utilization computation after the completion of an initial training period of up to four months. 

About Hexaware

We are a global digital and technology services company with artificial intelligence (“AI”) at its core. We leverage technology to deliver innovative solutions that help our customers in their digital transformation journey and subsequent operations. We embed AI into every aspect of our solutions and have created a suite of platforms and tools that allow our customers to adapt, innovate, and optimize in this AI-first era. We serve a diverse range of customers, including 31 Fortune 500 organizations. With a team of 32,309 employees in 28 countries, our presence is spread across major countries, nationalities, languages, time zones, and regulatory zones. For more information, please visit https://hexaware.com/

Forward-looking Statements

Certain statements in this press release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Hexaware has made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies, and unauthorized use of our intellectual property and general economic conditions affecting our industry. The Company may, from time to time, make additional written and oral forward statements. We do not undertake to update any forward statements that may be made from time to time by us or on our behalf unless required under the law.

Logo: https://mma.prnewswire.com/media/2237417/Hexaware_NEW_Logo.jpg

 

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SOURCE Hexaware Technologies Ltd.

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TS Imagine Expands Integration with Trumid’s Fixed-Income Trading Platform

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Adds Access to Trumid RFQ Automation
and Trumid Full Self Trading (FST™)

NEW YORK, July 23, 2026 /PRNewswire/ — TS Imagine, a leading global cross-asset provider of trading, portfolio, risk management and prime brokerage solutions, announced an expanded workflow integration with Trumid, a financial technology company and leading fixed income electronic trading platform.

The enhanced integration provides TS Imagine clients with broader access to Trumid’s electronic trading ecosystem, including its list-based workflows—Trumid RFQ and Portfolio Trading (PT)—while expanding RFQ automation and cross-protocol capabilities. Clients can now access:

Trumid’s RFQ network, enabling automated workflows through RFQ Auto-Submit via Trumid AutoPilot™ for RFQ, along with API-driven executionHeadless RFQ responder, initiator, and voice inquiry workflows Trumid Full Self Trading (FST™), Trumid’s automated cross-protocol execution capability connecting liquidity and execution opportunities across Trumid RFQ and Swarms, with expansion to Trumid Attributed Trading (firm dealer streams) planned for H2 2026. 

TS Imagine first integrated with Trumid in 2020, including support for Trumid’s Fair Value Model Price (FVMP™) predictive pricing model for corporate bonds.

Alexis Sainte Marie, Fixed Income Product, TS Imagine, said:

“Our expanded relationship with Trumid is an important step for TS Imagine clients seeking greater access to liquidity and workflow automation. We’ve particularly seen significant growth in areas like portfolio trading and RFQ and will continue to work closely with the Trumid team to enhance trading opportunities for our customers.”

Jason Quinn, Chief Product Officer & Global Head of Sales at Trumid, said: 

“Our mutual clients continue to benefit from the integration with TS Imagine, particularly as adoption of Trumid’s list-based workflows continues to accelerate. As clients increasingly engage across multiple Trumid trading protocols, we see additional opportunities to expand our relationship and deliver even greater value for our mutual clients.”

Trumid’s list protocols continued to deliver strong growth during Q2 2026. Trumid RFQ Average Daily Volume (ADV) increased 122% year-over-year, while automated trade volumes executed through Trumid AutoPilot™ for RFQ more than doubled. Trumid PT volume rose approximately 40% year-over-year, with the protocol recording its highest quarterly ADV alongside all-time highs in buy-side participation and lists traded. 

About TS Imagine 

TS Imagine delivers a best-in-class SaaS platform for integrated electronic front-office trading, portfolio management, prime brokerage, and financial risk management. Our global team of technologists continuously develops software and deploys new technologies that empower financial institutions to outperform markets and manage risk in real time. Many of the world’s leading financial institutions trust TS Imagine’s platform to manage their risk exposure and make better trading decisions across derivatives, equities and fixed income, cutting complexity and driving efficiencies.

About Trumid

Trumid is a financial technology company and fixed income electronic trading platform focused on US dollar-denominated Investment Grade, High Yield, Distressed, and Emerging Market bonds. Trumid optimizes the credit trading experience by combining agile technology and market expertise, with a focus on product design. The result is a differentiated ecosystem of protocols and trading solutions delivered within one intuitive platform. Learn more at www.trumid.com.

MEDIA CONTACTS

Greentarget for TS Imagine
tsimagine@greentarget.co.uk

Trumid Press
+1 (212) 618-0300
press@trumid.com

View original content:https://www.prnewswire.com/news-releases/ts-imagine-expands-integration-with-trumids-fixed-income-trading-platform-302832754.html

SOURCE Trumid

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Passage Preparation Wins 2026 CODiE Award for Best Professional Learning Platform

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CHARLOTTESVILLE, Va., July 23, 2026 /PRNewswire/ — Passage Preparation™, a division of K12 Coalition, has been named a 2026 CODiE Award Winner in the category Best Professional Learning Platform.

The CODiE Awards recognize the most innovative products, platforms and services across technology and education. Winners are selected through a rigorous evaluation process led by independent industry experts who assess each solution based on innovation, functionality, market impact, and overall value.

Selected from 228 finalists across 75 categories, the 2026 CODiE Award winners represent the solutions setting new standards for excellence and innovation.

“We are honored to receive this recognition from the CODiE Awards,” said Nathan Estel, Managing Director of Passage Preparation. “This award reflects our team’s commitment to helping aspiring educators build the knowledge, confidence, and instructional expertise they need to succeed on their licensure exams. We remain dedicated to strengthening the educator pipeline through innovative learning experiences that prepare great teachers for the classroom.”

As schools across the country face persistent teacher shortages, Passage Preparation is helping accelerate the path from aspiring educator to licensed classroom teacher. The platform provides comprehensive licensure exam preparation tailored to state certification requirements and subject areas, ensuring candidates focus on the content most relevant to their certification pathway. Developed by experienced teachers and teacher educators, every course is aligned with both licensure standards and evidence-based instructional practices, equipping candidates with the skills they need to succeed on certification exams and in the classroom.

Unlike traditional test-preparation programs that emphasize memorization and test-taking strategies, Passage Preparation builds lasting content knowledge and teaching proficiency through engaging, interactive learning experiences. Candidates benefit from diagnostic assessments that identify strengths and areas for improvement, detailed progress reporting, practice assessments, and personalized study plans. Flexible self-paced learning is complemented by live virtual cohorts that provide instructor guidance, peer collaboration, and accountability, creating a supportive professional learning community for busy educators.

Designed with accessibility and flexibility in mind, Passage Preparation includes tools such as Immersive Reader, offering real-time translation in more than 100 languages, text-to-speech functionality, customizable display settings, and other features that support diverse learning needs. The platform has consistently helped improve certification exam pass rates, enabling many candidates to earn licensure on their first attempt, saving valuable time and costs. By preparing more educators to enter the profession successfully, Passage Preparation helps districts fill critical teaching positions faster and strengthens the educator workforce nationwide.

“The 2026 CODiE Award winners represent some of the most innovative and impactful solutions in the industry,” said Jennifer Baranowski, President of the CODiE Awards. “These organizations are solving meaningful challenges, delivering measurable outcomes, and helping shape the future of technology.”

A complete list of 2026 CODiE Award winners is available at https://codieawards.com/winners.

About K12 Coalition 

K12 Coalition is a collective of specialized education products and services with a common mission to provide a great education for every student in every classroom every day. The company offers deep expertise in solving five macro K-12 education challenges: teacher certification, professional learning, literacy and math curriculum, accelerated student learning through summer school, and district support, including strategic planning and consulting. Learn more at k12coalition.com.

About Passage Preparation

Passage Preparation specializes in providing comprehensive licensure assessment preparation resources designed to bolster teacher confidence and proficiency. These learning resources equip licensure candidates with the knowledge necessary for success on exams and instill in them best teaching practices using methodologies thoughtfully curated to be engaging and aligned precisely with the content covered on the licensure exams. Passage Preparation is part of K12 Coalition, a certified B Corporation helping schools and teachers thrive nationwide.

Media Contact:
Alex Fairchild
K12Coalition@finnpartners.com 

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SOURCE K12 Coalition

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Knox Systems Partners with Microsoft to Accelerate Secure Government Access to Commercial Innovation on Microsoft Azure

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Strategic collaboration helps software companies bring cutting-edge commercial technology to the U.S. Government faster through Microsoft Azure Government Cloud

NEW YORK and WASHINGTON, July 23, 2026 /PRNewswire/ — Knox Systems (Knox), the largest, longest-running federal managed cloud, today announced a collaboration with Microsoft to help commercial software companies deploy secure, mission-ready solutions on Microsoft Azure Government Cloud for U.S. Government customers.

As demand for modern AI, cybersecurity, data, and enterprise software continues to grow across the public sector, the partnership is designed to reduce the barriers that have historically prevented government agencies from accessing the same technologies already transforming the commercial market.

Knox enables software providers to achieve production-ready federal cloud environments in as little as 90 days through its pre-authorized Federal Managed Cloud. By inheriting a substantial portion of required security controls, companies can reduce the time, effort, cost, and compliance burden associated with deploying compliant government cloud solutions. Combined with Microsoft Azure’s trusted government cloud platform, the collaboration provides an accelerated path for innovative software companies seeking to serve federal civilian and defense customers.

“America’s greatest technology companies shouldn’t spend years navigating compliance before they can help solve government missions,” said Irina Denisenko, CEO of Knox Systems. “Microsoft has built one of the world’s most trusted cloud platforms for government. Knox removes the operational barriers that can keep innovative software companies from deploying secure, compliant solutions on Azure Government. Together, we’re making it dramatically faster for agencies to access the technologies they need, securely, compliantly, and at mission speed.”

The collaboration strengthens Microsoft’s ecosystem for independent software vendors (ISVs) pursuing government opportunities while expanding the pathway for AI-native, cybersecurity, enterprise software, and critical infrastructure companies to bring production workloads to Azure.

“Microsoft is committed to helping software companies innovate for government while meeting the highest standards for security and compliance,” said Jamie Harper, VP, Defense Industrial Base, Microsoft. “Our collaboration with Knox provides organizations with an accelerated path to deploy innovative solutions on Microsoft Azure Government Cloud, helping government agencies gain faster access to the technologies that support critical missions.”

Knox currently operates one of the industry’s largest FedRAMP-authorized managed cloud environments, supporting more than 70 software companies and maintaining 16 US Federal and Department of War Authorizations to Operate (ATOs). Customers including Adobe, Armis, Celonis, BigID, and other leading software providers rely on Knox to bring commercial innovation to government faster while maintaining rigorous security standards.

As AI adoption accelerates across government, the partnership reflects a shared commitment to ensuring agencies can securely leverage the same cutting-edge technologies already powering the commercial economy.

About Knox Systems

Knox Systems operates the largest managed federal cloud, trusted by top agencies and partners across defense and civilian sectors. Built for speed, resilience, and compliance, Knox delivers FedRAMP authorization in 90 days – turning the biggest bottleneck in government IT into the fastest path to modernization. Knox proudly serves Adobe, Celonis, OutSystems, Armis, BigID, and more AI and SaaS providers, accelerating secure innovation across the federal landscape. Learn more at knoxsystems.com.

Media Contact:
knox@w2comm.com

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SOURCE Knox Systems, Inc

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