XBP Europe Holdings, Inc. Reports Second Quarter 2024 Results

Second Quarter Highlights

●  Revenue of $36.1 million, down 14.8% year-over-year (14.2% on a constant currency basis)
●  Gross margin declined to 18.4%, a 630 bps decrease sequentially and 920 bps decrease year-over-year
●  Net loss of $4.7 million includes $0.7 million of FX losses       
●  Active revenue ramp of approximately $25 million in ACV (Annual Contract Value)
●  Completed a comprehensive financing transaction with HSBC to provide up to $33 million of incremental liquidity

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