Quarterly ResultMay 7, 2026, 04:43 PM
Xerox Q1 Revenue Jumps 26.7% to $1.85B; Net Loss Widens to $105M
AI Summary
Xerox Holdings Corp. reported a significant increase in total revenues for the first quarter of 2026, rising 26.7% to $1,846M, driven by a 65.2% surge in sales revenue. Despite this growth, the company's net loss widened to $(105)M from $(90)M in the prior year, with basic loss per share increasing to $(0.84). A key strategic development was the formation of a joint venture with TPG, IPCo Holdings, which secured $450M in funding and involved the contribution of Xerox's intellectual property.
Key Highlights
- Xerox formed a joint venture (IPCo Holdings) with TPG, raising $450M through term loans and Class A Units.
- Total Revenues increased 26.7% to $1,846M in Q1 2026 from $1,457M in Q1 2025.
- Net Loss widened to $(105)M in Q1 2026 from $(90)M in Q1 2025.
- Basic Loss per Share increased to $(0.84) in Q1 2026 from $(0.75) in Q1 2025.
- Sales revenue surged 65.2% to $920M in Q1 2026 from $557M in Q1 2025.
- Net cash provided by financing activities was $242M in Q1 2026, a significant shift from $(159)M used in Q1 2025.
- Long-term debt increased to $4,281M as of March 31, 2026, from $4,016M at December 31, 2025.
- US revenue grew 17.8% to $1,001M, and Europe revenue grew 31.6% to $529M.