Hexaware Delivers Q3CY25 Revenue of USD 394.8 Mn, Up 5.5% YoY

Q3CY25 EBITDA Expansion of 154 bps YoY

Q3CY25 EPS at INR 6.09, Increase of 22.3% YoY

MUMBAI, India and ISELIN, N.J. and LONDON, Nov. 6, 2025 /PRNewswire/ -- Hexaware Technologies (NSE: HEXT), a leading global provider of IT solutions and services, today announced financial results for the third quarter of calendar year 2025 ended Sep 30, 2025.

Financial Summary and Highlights

Revenue:

• Q3CY25: USD 394.8 Mn | INR 34,836 Mn
• USD: +3.3% QoQ and +5.5% YoY | INR: +6.8% QoQ and +11.1% YoY
• Constant Currency: +3.4% QoQ and +5.2% YoY

Profitability:

• Reported EBITDA ^(1):
• Q3CY25: 17.5% | +30 bps QoQ and +154 bps YoY in % terms
• +5.1% QoQ and +15.6% YoY in absolute terms
• Basic EPS:
• Q3CY25: INR 6.09 | -2.6% QoQ and +22.3% YoY

Key People Metrics:

• Closing Headcount: 33,590, LTM net headcount addition of 1,054
• Voluntary Attrition for IT ⁽²⁾: 11.4%
• Q3CY25 Utilization Rate for IT ⁽³⁾: 83.8%

Other Key Metrics:

• DSO (Billed + Unbilled) at 73 in Q3CY25, of which Billed is 37
• LTM Q3CY25 Reported Cash Conversion % at 79.6%
• Strong Cash and Cash Equivalents position as of Sep 30, 2025 ⁽⁴⁾: INR 20,201 Mn (USD 228 Mn) ⁽⁵⁾

Leadership Speak

" We delivered solid growth in a difficult macro. More importantly, we continue to invest in our future on several dimensions. We acquired specialist capability in IAM through CyberSolve, created a new vertical in Technology, Products and Platforms with a talented new leader, and launched multiple new domain offerings in AI."

                                                                                                    R. Srikrishna, CEO

"I am pleased to report an EBITDA of 17.5% for the quarter, reflecting a 30 bps improvement quarter‑on‑quarter, driven by disciplined operational efficiencies. Our strong cash generation continues, with OCF to EBITDA conversion at 80% on an LTM basis. We also welcome the CyberSolve team to the Hexaware family as we accelerate our strategic growth journey "

                                                                                                    Vikash Jain, CFO

Notes: (1) EBITDA in USD terms (2) 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. (3) 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. (4) Includes restricted cash balance and Mutual Fund Investments (5) Exchange rate used is 88.8

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 30+ Fortune 500 organizations. With a team of 33,590 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, litigations 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 work visa ,immigration, our ability to manage our international operations, the effect of current and any future tariffs, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, technological disruptions and innovations such as Generative AI ,our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies products and platforms in which Hexaware has made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies, the outcome of pending litigation 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.

Disclaimer

Use of Non-GAAP Financials

Hexaware has included certain non-GAAP financial measures in this Press release to supplement Hexaware's consolidated financial statements presented on a GAAP basis. These non-GAAP financial measures may have limitations as analytical tools, and these measures should not be considered in isolation or as a substitute for analysis of Hexaware's results as reported under GAAP. The non-GAAP financial information that we provide also may differ from the non-GAAP information provided by other companies. We compensate for the limitations on our use of these non-GAAP financial measures by relying primarily on our GAAP financial statements and using non-GAAP financial measures only supplementally. We believe that providing these non-GAAP financial measures in addition to the related GAAP measures provides investors with greater transparency. We further believe that providing this information better enables investors to understand Hexaware's operating performance and financial condition

Rounding off

Certain amounts and percentage figures included in this Press Release have been subject to rounding adjustments. Accordingly, figures shown as totals in certain tables may not be an arithmetic aggregation of the figures preceding them

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