Subsequent Events

6 Months Ended

Jun. 30, 2023

On June 20, 2023, the Company’s stockholders approved an amendment to the Company’s Amended and Restated Certificate of Incorporation, which upon filing with the State of Delaware, and effectiveness thereof, will effect a 5-for-1 forward stock split of the Company’s common stock (the “2023 Stock Split”) and an increase in the number of authorized shares of the Company’s common stock from 100,000,000 shares to 400,000,000 shares. The par value of each share of common stock, $0.001, shall remain unchanged. The 2023 Stock Split was considered to not have been consummated as the common shares were not trading on Nasdaq Global Select Market on a post-split basis as of the date of issuance of the consolidated financial statements.

Pursuant to the 2023 Stock Split, each stockholder of record on July 25, 2023 holding shares of the Company’s common stock will receive four additional shares of the Company’s common stock for every one share held. The additional shares are to be distributed after the close of business on August 1, 2023.

All share count and per share amounts in these consolidated financial statements are presented on a pre-split basis.

Below are the pro forma weighted average common stock outstanding and earnings per share (basic and diluted) as if 2023 Stock Split had been effective for all years presented:


	Pro Forma (Unaudited)
	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022
Numerator:
Net income	$	49,068	$	35,846	$	100,399	$	72,024
Denominator:
Basic weighted average common shares outstanding	166,776,770		167,017,055		166,986,130		167,113,090
Dilutive effect of share based awards	1,665,475		2,135,640		2,061,645		2,199,895
Diluted weighted average common shares outstanding	168,442,245		169,152,695		169,047,775		169,312,985
Earnings per share attributable to ExlService Holdings, Inc. stockholders:
Basic	$	0.29	$	0.21	$	0.60	$	0.43
Diluted	$	0.29	$	0.21	$	0.59	$	0.43
Weighted average potentially dilutive shares considered anti-dilutive and not included in computing diluted earnings per share	1,249,155		—		897,750		2,705