XBP Global raised its targeted annualized operational efficiency range to $65 million to $75 million, up from $55 million to $60 million, during its second quarter 2026 earnings call. CEO Andrej Jonovic said the company expects an in-year benefit of approximately $35 million, while CFO Dejan Avramovic reiterated plans for an approximate 20% workforce reduction by year-end relative to year-end 2025. The company reported Q2 total revenue of $191.3 million, down 14% year-over-year on a pro forma basis, with normalized EBITDA of $21.9 million and adjusted gross margin of 24.9%, its highest to date. Management expects a revenue inflection in the second half of the year and has engaged a financial advisor for its strategic alternatives process.
XBP Europe Holdings IncRaises efficiency target and reiterates cost cuts, despite revenue decline.