ExlService Holdings (EXLS) Cost of Revenue (2010 - 2026)
ExlService Holdings (EXLS) reported Cost of Revenue of $392.82 million for Q3 2026, up 20.6% from $325.65 million a year earlier and up 6.5% from the prior quarter.
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Analysis
ExlService Holdings (EXLS) Cost of Revenue (2010 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, ExlService Holdings' Cost of Revenue came in at $1.44 billion, up 15.3% year-over-year; for FY2025, it came in at $1.29 billion, up 12.1% from FY2024.
- Cost of Revenue has increased for five consecutive years, with a five-year compound annual growth rate of 15.6% (FY2020 to FY2025).
- By year, Cost of Revenue came in at $1.15 billion in FY2024 (+12.2%), $1.02 billion in FY2023 (+14.1%), $896.6 million in FY2022 (+29.8%) and $690.93 million in FY2021 (+10.7%).
- The Q3 2026 figure ranks as the highest quarterly Cost of Revenue in data going back to Q2 2010.
- Year over year, Cost of Revenue has now increased in each of the last 22 quarters, with growth averaging 13.9% over the last eight quarters.
- Across the past five years, year-over-year growth in Cost of Revenue ran from 8.7% in Q1 2024 to 30.7% in Q1 2022.
- Per Business Quant data, the three quarters before Q3 2026 came in at $368.8 million (Q2 2026), $348.27 million (Q1 2026) and $332.98 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Infosys | 51.35 Bn | -77.91 Bn | 1.60 Bn | 3.55 Bn |
| 2 | Cognizant Technology Solutions | 30.16 Bn | 24.12 Bn | 1.91 Bn | 3.75 Bn |
| 3 | Wipro | 22.58 Bn | 17.72 Bn | 745.00 Mn | 1.84 Bn |
| 4 | Cdw | 19.64 Bn | 16.54 Bn | 1.39 Bn | 5.37 Bn |
| 5 | Cgi | 18.54 Bn | 16.34 Bn | - | - |
| 6 | Td Synnex | 17.34 Bn | 11.50 Bn | 1.43 Bn | 20.13 Bn |
| 7 | Arrow Electronics | 9.29 Bn | 8.24 Bn | 1.13 Bn | 8.87 Bn |
| 8 | EPAM Systems | 8.17 Bn | 4.08 Bn | 445.94 Mn | 980.49 Mn |
| 9 | ExlService Holdings | 6.55 Bn | 5.35 Bn | 241.14 Mn | 392.82 Mn |
| 10 | Avnet | 6.53 Bn | 5.71 Bn | 865.03 Mn | 7.43 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 392.82 Mn |
| Jun 30, 2026 | 368.80 Mn |
| Mar 31, 2026 | 348.27 Mn |
| Dec 31, 2025 | 332.98 Mn |
| Sep 30, 2025 | 325.65 Mn |
| Jun 30, 2025 | 320.27 Mn |
| Mar 31, 2025 | 307.71 Mn |
| Dec 31, 2024 | 298.02 Mn |
| Sep 30, 2024 | 293.81 Mn |
| Jun 30, 2024 | 282.11 Mn |
| Mar 31, 2024 | 273.42 Mn |
| Dec 31, 2023 | 262.21 Mn |
| Sep 30, 2023 | 256.00 Mn |
| Jun 30, 2023 | 253.22 Mn |
| Mar 31, 2023 | 251.47 Mn |
| Dec 31, 2022 | 237.41 Mn |
| Sep 30, 2022 | 230.46 Mn |
| Jun 30, 2022 | 221.21 Mn |
| Mar 31, 2022 | 207.52 Mn |
| Dec 31, 2021 | 183.67 Mn |
API Access
ExlService Holdings Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=EXLS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "EXLS", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=EXLS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();