Insurance was ExlService Holdings’s largest segment in fiscal 2025, bringing in $829.90M of $2.09B (40%).
| Segment | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Banking, Capital Markets & Diversified Industries | — | $590.46M | $639.27M | $724.24M | |||||||||
| Healthcare & Life Sciences | — | $367.34M | $431.79M | $533.54M | |||||||||
| Operations Management | — | — | — | — | |||||||||
| Insurance | $448.70M | $672.87M | $767.31M | $829.90M | |||||||||
| Analytics | $647.35M | — | — | — | |||||||||
| Emerging Business | $218.64M | — | — | — | |||||||||
| Healthcare | $97.35M | — | — | — | |||||||||
| All Other | — | — | — | — | |||||||||
| Other Operations Management | — | — | — | — | |||||||||
| Fa | — | — | — | — | |||||||||
| F&A | — | — | — | — | |||||||||
| Finance & Accounting | — | — | — | — | |||||||||
| Ttl | — | — | — | — | |||||||||
| Tt&L | — | — | — | — | |||||||||
| Travel, Transportation & Logistics | — | — | — | — | |||||||||
| Total | $1.41B | $1.63B | $1.84B | $2.09B |
ExlService Holdings brought in $2.09B from its three segments in fiscal 2025, the year ended December 31, 2025. That was up 13.6% from $1.84B in fiscal 2024. Insurance was the largest at $829.90M (39.8%), ahead of Banking, Capital Markets & Diversified Industries at $724.24M (34.7%) and Healthcare & Life Sciences at $533.54M (25.6%).
Compared with fiscal 2024, Healthcare & Life Sciences grew fastest, up 23.6% to $533.54M. Every segment above 2% of revenue grew.
ExlService Holdings began breaking out Banking, Capital Markets & Diversified Industries in fiscal 2023 and Healthcare & Life Sciences in fiscal 2023. ExlService Holdings stopped reporting Analytics ($647.35M in fiscal 2022), Emerging Business ($218.64M in fiscal 2022) and Healthcare ($97.35M in fiscal 2022) as separate segments.
Data & Ai-Led was ExlService Holdings’s largest product and service line in fiscal 2025, bringing in $1.16B of $2.09B (55%).
| Product and Service | FY 2010 | FY 2011 | FY 2012 | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Data & Ai-Led | — | $834.74M | $979.73M | $1.16B | ||||||||||||
| Digital Operations | — | $795.93M | $858.64M | $932.34M | ||||||||||||
| Digital Operations & Solutions | $764.69M | — | — | — | ||||||||||||
| Bpm & Related Services | — | — | — | — | ||||||||||||
| Bpm Services | — | — | — | — | ||||||||||||
| Operations Management | — | — | — | — | ||||||||||||
| Analytics Services | $647.35M | — | — | — | ||||||||||||
| Outsourcing Services | — | — | — | — | ||||||||||||
| Analytics & Business Transformation | — | — | — | — | ||||||||||||
| Transformation Services | — | — | — | — | ||||||||||||
| Total | $1.41B | $1.63B | $1.84B | $2.09B |
ExlService Holdings brought in $2.09B from its two product and service lines in fiscal 2025, the year ended December 31, 2025. That was up 13.6% from $1.84B in fiscal 2024. Data & Ai-Led was the largest at $1.16B (55.3%), ahead of Digital Operations at $932.34M (44.7%).
Compared with fiscal 2024, Data & Ai-Led grew 17.9% to $1.16B and Digital Operations grew 8.6% to $932.34M.
ExlService Holdings began breaking out Data & Ai-Led in fiscal 2023 and Digital Operations in fiscal 2023. ExlService Holdings stopped reporting Digital Operations & Solutions ($764.69M in fiscal 2022) and Analytics Services ($647.35M in fiscal 2022) as separate lines.
North America was ExlService Holdings’s largest region in fiscal 2025, bringing in $1.73B of $2.09B (83%).
| Geography | FY 2010 | FY 2011 | FY 2012 | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | — | $1.36B | $1.51B | $1.73B | ||||||||||||
| The United States | $1.21B | — | — | — | ||||||||||||
| United States | — | — | — | — | ||||||||||||
| Us | — | — | — | — | ||||||||||||
| United Kingdom & Europe | — | $226.76M | $272.53M | $307.31M | ||||||||||||
| United Kingdom | $134.63M | — | — | — | ||||||||||||
| Gb | — | — | — | — | ||||||||||||
| Rest Of World | $63.94M | $39.46M | $52.03M | $54.76M | ||||||||||||
| Total | $1.41B | $1.63B | $1.84B | $2.09B |
ExlService Holdings brought in $2.09B from its three regions in fiscal 2025, the year ended December 31, 2025. That was up 13.6% from $1.84B in fiscal 2024. North America was the largest at $1.73B (82.7%), ahead of United Kingdom & Europe at $307.31M (14.7%) and Rest Of World at $54.76M (2.6%).
Compared with fiscal 2024, North America grew fastest, up 14.0% to $1.73B. Every region above 2% of revenue grew.
ExlService Holdings began breaking out North America in fiscal 2023 and United Kingdom & Europe in fiscal 2023. ExlService Holdings stopped reporting The United States ($1.21B in fiscal 2022) and United Kingdom ($134.63M in fiscal 2022) as separate regions.
ExlService Holdings (EXLS) reports its revenue by segment, by product and service and by geography. In fiscal 2025, Insurance was its largest segment, bringing in $829.90M (39.8% of the total), followed by Banking, Capital Markets & Diversified Industries at $724.24M (34.7%).
Insurance was ExlService Holdings' largest segment in fiscal 2025, bringing in $829.90M, or 39.8% of the $2.09B total across its three segments.
Data & Ai-Led was ExlService Holdings' largest product and service line in fiscal 2025, bringing in $1.16B, or 55.3% of the $2.09B total across its two product and service lines.
North America was ExlService Holdings' largest region in fiscal 2025, bringing in $1.73B, or 82.7% of the $2.09B total across its three regions.
Among ExlService Holdings' segments that make up at least 2% of revenue, Healthcare & Life Sciences grew fastest in fiscal 2025, up 23.6% from $431.79M to $533.54M.
Every figure comes from ExlService Holdings' annual financial filings, as reported. Each line keeps the name ExlService Holdings gives it, and years follow its fiscal calendar.
ExlService Holdings' revenue by segment goes back to fiscal 2013, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.