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Side-by-side financial comparison of ExlService Holdings, Inc. (EXLS) and Lumentum Holdings Inc. (LITE). Click either name above to swap in a different company.
Lumentum Holdings Inc. is the larger business by last-quarter revenue ($665.5M vs $542.6M, roughly 1.2× ExlService Holdings, Inc.). Lumentum Holdings Inc. runs the higher net margin — 11.8% vs 11.1%, a 0.6% gap on every dollar of revenue. On growth, Lumentum Holdings Inc. posted the faster year-over-year revenue change (65.5% vs 12.7%). ExlService Holdings, Inc. produced more free cash flow last quarter ($106.5M vs $43.1M). Over the past eight quarters, Lumentum Holdings Inc.'s revenue compounded faster (34.8% CAGR vs 11.5%).
Exlservice Holdings, Inc. is a global analytics and digital solutions company serving industries including insurance, healthcare, banking and financial services, media, retail, and others. The company is headquartered in New York and has more than 54,000 professionals in locations throughout the United States, Europe, Asia, Latin America, Australia and South Africa.
JDS Uniphase Corporation (JDSU) was an American company that designed and manufactured products for optical communications networks, communications test and measurement equipment, lasers, optical solutions for authentication and decorative applications, and other custom optics. It was headquartered in Milpitas, California. In August 2015, JDSU split into two different companies – Viavi Solutions and Lumentum Holdings.
EXLS vs LITE — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $542.6M | $665.5M |
| Net Profit | $60.2M | $78.2M |
| Gross Margin | 38.6% | 36.1% |
| Operating Margin | 14.4% | 9.7% |
| Net Margin | 11.1% | 11.8% |
| Revenue YoY | 12.7% | 65.5% |
| Net Profit YoY | 18.9% | 228.4% |
| EPS (diluted) | $0.38 | $0.89 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $542.6M | $665.5M | ||
| Q3 25 | $529.6M | $533.8M | ||
| Q2 25 | $514.5M | $480.7M | ||
| Q1 25 | $501.0M | $425.2M | ||
| Q4 24 | $481.4M | $402.2M | ||
| Q3 24 | $472.1M | $336.9M | ||
| Q2 24 | $448.4M | $308.3M | ||
| Q1 24 | $436.5M | $366.5M |
| Q4 25 | $60.2M | $78.2M | ||
| Q3 25 | $58.2M | $4.2M | ||
| Q2 25 | $66.1M | $213.3M | ||
| Q1 25 | $66.6M | $-44.1M | ||
| Q4 24 | $50.7M | $-60.9M | ||
| Q3 24 | $53.0M | $-82.4M | ||
| Q2 24 | $45.8M | $-252.5M | ||
| Q1 24 | $48.8M | $-127.0M |
| Q4 25 | 38.6% | 36.1% | ||
| Q3 25 | 38.5% | 34.0% | ||
| Q2 25 | 37.7% | 33.3% | ||
| Q1 25 | 38.6% | 28.8% | ||
| Q4 24 | 38.1% | 24.8% | ||
| Q3 24 | 37.8% | 23.1% | ||
| Q2 24 | 37.1% | 16.6% | ||
| Q1 24 | 37.4% | 16.2% |
| Q4 25 | 14.4% | 9.7% | ||
| Q3 25 | 14.4% | 1.3% | ||
| Q2 25 | 15.8% | -1.7% | ||
| Q1 25 | 15.7% | -8.9% | ||
| Q4 24 | 14.8% | -12.8% | ||
| Q3 24 | 14.7% | -24.5% | ||
| Q2 24 | 13.7% | -43.3% | ||
| Q1 24 | 14.1% | -31.3% |
| Q4 25 | 11.1% | 11.8% | ||
| Q3 25 | 11.0% | 0.8% | ||
| Q2 25 | 12.8% | 44.4% | ||
| Q1 25 | 13.3% | -10.4% | ||
| Q4 24 | 10.5% | -15.1% | ||
| Q3 24 | 11.2% | -24.5% | ||
| Q2 24 | 10.2% | -81.9% | ||
| Q1 24 | 11.2% | -34.7% |
| Q4 25 | $0.38 | $0.89 | ||
| Q3 25 | $0.36 | $0.05 | ||
| Q2 25 | $0.40 | $3.10 | ||
| Q1 25 | $0.40 | $-0.64 | ||
| Q4 24 | $0.31 | $-0.88 | ||
| Q3 24 | $0.33 | $-1.21 | ||
| Q2 24 | $0.28 | $-3.75 | ||
| Q1 24 | $0.29 | $-1.88 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $328.4M | $1.2B |
| Total DebtLower is stronger | $298.6M | — |
| Stockholders' EquityBook value | $912.7M | $846.6M |
| Total Assets | $1.7B | $4.8B |
| Debt / EquityLower = less leverage | 0.33× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $328.4M | $1.2B | ||
| Q3 25 | $390.1M | $1.1B | ||
| Q2 25 | $353.3M | $877.1M | ||
| Q1 25 | $331.4M | $866.7M | ||
| Q4 24 | $340.6M | $896.7M | ||
| Q3 24 | $325.8M | $916.1M | ||
| Q2 24 | $276.1M | $887.0M | ||
| Q1 24 | $246.2M | $870.9M |
| Q4 25 | $298.6M | — | ||
| Q3 25 | $354.8M | — | ||
| Q2 25 | $260.0M | — | ||
| Q1 25 | $307.3M | — | ||
| Q4 24 | $288.5M | — | ||
| Q3 24 | $344.7M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $912.7M | $846.6M | ||
| Q3 25 | $952.4M | $780.8M | ||
| Q2 25 | $1.1B | $1.1B | ||
| Q1 25 | $1.0B | $879.5M | ||
| Q4 24 | $929.9M | $872.3M | ||
| Q3 24 | $907.6M | $895.9M | ||
| Q2 24 | $852.6M | $957.3M | ||
| Q1 24 | $803.3M | $1.2B |
| Q4 25 | $1.7B | $4.8B | ||
| Q3 25 | $1.7B | $4.6B | ||
| Q2 25 | $1.7B | $4.2B | ||
| Q1 25 | $1.7B | $4.0B | ||
| Q4 24 | $1.6B | $4.0B | ||
| Q3 24 | $1.6B | $4.0B | ||
| Q2 24 | $1.5B | $3.9B | ||
| Q1 24 | $1.4B | $4.2B |
| Q4 25 | 0.33× | — | ||
| Q3 25 | 0.37× | — | ||
| Q2 25 | 0.25× | — | ||
| Q1 25 | 0.30× | — | ||
| Q4 24 | 0.31× | — | ||
| Q3 24 | 0.38× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $117.4M | $126.7M |
| Free Cash FlowOCF − Capex | $106.5M | $43.1M |
| FCF MarginFCF / Revenue | 19.6% | 6.5% |
| Capex IntensityCapex / Revenue | 2.0% | 12.6% |
| Cash ConversionOCF / Net Profit | 1.95× | 1.62× |
| TTM Free Cash FlowTrailing 4 quarters | $298.1M | $-29.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $117.4M | $126.7M | ||
| Q3 25 | $120.7M | $57.9M | ||
| Q2 25 | $109.4M | $64.0M | ||
| Q1 25 | $3.2M | $-1.6M | ||
| Q4 24 | $105.3M | $24.3M | ||
| Q3 24 | $110.1M | $39.6M | ||
| Q2 24 | $74.9M | $35.5M | ||
| Q1 24 | $-21.9M | $-7.0M |
| Q4 25 | $106.5M | $43.1M | ||
| Q3 25 | $106.4M | $-18.3M | ||
| Q2 25 | $95.0M | $10.1M | ||
| Q1 25 | $-9.7M | $-64.4M | ||
| Q4 24 | $95.3M | $-15.9M | ||
| Q3 24 | $97.3M | $-34.5M | ||
| Q2 24 | $62.8M | $10.9M | ||
| Q1 24 | $-33.1M | $-26.6M |
| Q4 25 | 19.6% | 6.5% | ||
| Q3 25 | 20.1% | -3.4% | ||
| Q2 25 | 18.5% | 2.1% | ||
| Q1 25 | -1.9% | -15.1% | ||
| Q4 24 | 19.8% | -4.0% | ||
| Q3 24 | 20.6% | -10.2% | ||
| Q2 24 | 14.0% | 3.5% | ||
| Q1 24 | -7.6% | -7.3% |
| Q4 25 | 2.0% | 12.6% | ||
| Q3 25 | 2.7% | 14.3% | ||
| Q2 25 | 2.8% | 11.2% | ||
| Q1 25 | 2.6% | 14.8% | ||
| Q4 24 | 2.1% | 10.0% | ||
| Q3 24 | 2.7% | 22.0% | ||
| Q2 24 | 2.7% | 8.0% | ||
| Q1 24 | 2.6% | 5.3% |
| Q4 25 | 1.95× | 1.62× | ||
| Q3 25 | 2.08× | 13.79× | ||
| Q2 25 | 1.66× | 0.30× | ||
| Q1 25 | 0.05× | — | ||
| Q4 24 | 2.08× | — | ||
| Q3 24 | 2.08× | — | ||
| Q2 24 | 1.63× | — | ||
| Q1 24 | -0.45× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EXLS
| Insurance | $185.8M | 34% |
| Healthcare And Life Sciences | $142.2M | 26% |
| Banking Capital Markets And Diversified Industries | $122.6M | 23% |
| International Growth Markets | $92.0M | 17% |
LITE
| Components | $443.7M | 67% |
| Systems | $221.8M | 33% |
