ExlService Holdings (EXLS) Research & Development (2010 - 2026)
ExlService Holdings (EXLS) posted Research & Development of $49.6 million for Q2 2026, up 5.14% on a QoQ basis from $47.2 million in Q1 2026, and up 25.81% year-over-year from $39.4 million in Q2 2025.
Analysis
ExlService Holdings (EXLS) Research & Development (2010 - 2026) Analysis & Trends
ExlService Holdings has reported Research & Development for 17 years, with the latest figure at $49.6 million in Q2 2026.
- On a quarterly basis, Research & Development rose 25.81% year-over-year to $49.6 million in Q2 2026; TTM through Jun 2026 was $188.4 million, a 20.41% increase from a year earlier, with the FY2025 full-year figure at $172.9 million, up 18.04% from the prior year.
- Research & Development was $49.6 million for Q2 2026 at ExlService Holdings, up from $47.2 million in the prior quarter.
- The five-year high for Research & Development was $49.6 million in Q2 2026, with the low at $23.9 million in Q3 2022.
- Average Research & Development over 5 years is $35.2 million, with a median of $35.7 million recorded in 2024.
- The largest YoY upside for Research & Development was 32.55% in 2022 against a maximum downside of 5.19% in 2022.
- Over 5 years, Research & Development stood at $26.0 million in 2022, then gained by 21.57% to $31.6 million in 2023, then climbed by 18.91% to $37.5 million in 2024, then increased by 20.42% to $45.2 million in 2025, then climbed by 9.85% to $49.6 million in 2026.
- The last three Research & Development figures came in at $49.6 million (Q2 2026), $47.2 million (Q1 2026), and $45.2 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Infosys | 44.95 Bn | 44.95 Bn | 1.60 Bn | 270.00 Mn |
| 2 | Cognizant Technology Solutions | 27.19 Bn | 26.14 Bn | 1.83 Bn | - |
| 3 | Cgi | 15.35 Bn | 14.77 Bn | - | - |
| 4 | EPAM Systems | 6.01 Bn | 5.22 Bn | 429.57 Mn | - |
| 5 | Science Applications International | 5.35 Bn | 5.22 Bn | 239.00 Mn | - |
| 6 | ExlService Holdings | 5.33 Bn | 5.05 Bn | 225.96 Mn | 49.63 Mn |
| 7 | Kyndryl Holdings | 2.86 Bn | 746.87 Mn | 776.00 Mn | - |
| 8 | Formula Systems (1985) | 1.98 Bn | 1.56 Bn | 158.43 Mn | 5.75 Mn |
| 9 | Innodata | 1.84 Bn | 1.59 Bn | 42.46 Mn | - |
| 10 | DXC Technology | 1.79 Bn | -211.80 Mn | 611.00 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 49.63 Mn |
| Mar 31, 2026 | 47.20 Mn |
| Dec 31, 2025 | 45.18 Mn |
| Sep 30, 2025 | 46.38 Mn |
| Jun 30, 2025 | 39.45 Mn |
| Mar 31, 2025 | 41.93 Mn |
| Dec 31, 2024 | 37.52 Mn |
| Sep 30, 2024 | 37.57 Mn |
| Jun 30, 2024 | 35.44 Mn |
| Mar 31, 2024 | 35.97 Mn |
| Dec 31, 2023 | 31.55 Mn |
| Sep 30, 2023 | 30.94 Mn |
| Jun 30, 2023 | 28.24 Mn |
| Mar 31, 2023 | 29.49 Mn |
| Dec 31, 2022 | 25.96 Mn |
| Sep 30, 2022 | 23.88 Mn |
| Jun 30, 2022 | 23.99 Mn |
| Mar 31, 2022 | 24.17 Mn |
| Dec 31, 2021 | 24.68 Mn |
| Sep 30, 2021 | 21.67 Mn |