ExlService Holdings Inc (EXLS)

Days of sales outstanding (DSO)

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Receivables turnover		5.25	5.21	5.32	5.09	5.45	4.84	5.25	4.90	5.67	5.49	5.59	6.07	4.50	6.20	6.15	5.30	4.00	5.35	5.22	5.16
DSO	days	69.46	70.04	68.58	71.67	67.00	75.47	69.51	74.41	64.38	66.44	65.24	60.12	81.09	58.91	59.32	68.91	91.15	68.17	69.93	70.71

December 31, 2023 calculation

DSO = 365 ÷ Receivables turnover
= 365 ÷ 5.25
= 69.46

Examining the days of sales outstanding (DSO) trend for ExlService Holdings Inc over the last eight quarters, we can observe fluctuations in the firm's ability to collect accounts receivable.

In Q1 2022, the DSO was at 77.84 days, indicating a relatively long collection period, possibly impacting liquidity. Subsequently, a slight improvement was seen in Q2 2022 and Q3 2022 with DSO figures of 72.53 days and 74.17 days, respectively.

During Q4 2022, there was a notable decrease in DSO to 71.07 days. However, this trend was reversed in Q1 2023, where DSO increased to 75.32 days, indicating a slower collection process compared to the previous quarter.

Despite the rise in Q1 2023, there was a slight improvement in Q2 2023 with DSO at 72.13 days, although the figure increased slightly in Q3 2023 to 73.25 days.

Notably, in the most recent quarter, Q4 2023, DSO was recorded at 73.11 days, similar to the previous quarter. Overall, while there have been fluctuations in DSO over the quarters, the general trend suggests that ExlService Holdings Inc has been managing its accounts receivables relatively efficiently, albeit with some variability in collection times.