Hexaware Technologies reported Q3CY25 revenue of $394.8 million, a 3.3% increase QoQ and 5.5% increase YoY. The company also completed the acquisition of CyberSolve to strengthen its cybersecurity capabilities. EBITDA stood at 17.5%. The company headcount is 33,590, with a voluntary attrition rate for IT at 11.4%. The company is expecting continued progress in Legacy Modernization.
Financial Performance
Hexaware Technologies announced its financial results for Q3CY25:
- Revenue: $394.8 million, up 3.3% QoQ and 5.5% YoY.
- In INR terms: ₹34,836 million, up 6.8% QoQ and 11.1% YoY.
- EBITDA: 17.5%, an increase of 154 bps YoY.
- Basic EPS: ₹6.09, up 22.3% YoY.
CyberSolve Acquisition
Hexaware has acquired CyberSolve to enhance its AI-led cybersecurity capabilities. CyberSolve, founded in 2016, specializes in identity and access management (IAM). This acquisition will position Hexaware as a full-spectrum cybersecurity partner. CY 2024 revenues for CyberSolve were $25.8M. The total deal consideration is $66M.
Business Highlights
- Shantanu Baruah joined as H&I Vertical Head.
- Eravi Gopan joined as head of High Tech, Products, and Platforms.
- Siddharth Dhar has taken additional mandate as Head of Al Practice.
Key Metrics
- Closing Headcount: 33,590.
- Voluntary Attrition for IT: 11.4%.
- Utilization Rate for IT: 83.8%.
Growth Accelerators
- Material progress on Legacy Modernization.
- Widespread acceptance on Vibe Coding/Vibe Engineering, and Al in all phases of SDLC.
- Launched multiple Domain Al solutions, Contact center transformation.
Outlook
- Improving demand, including early signs of recovery in M&C.
- Reported EBIDTA outlook of 17.1% – 17.2% post merit increase.
Source: BSE
