Hexaware Technologies Scores Big with San Francisco Unicorns Partnership, Riding on Strong Financial Performance
Hexaware Technologies has announced a strategic partnership with the San Francisco Unicorns cricket team until 2026, coinciding with the release of impressive financial results for Q4 and full-year 2024. The collaboration includes branding on team gear and signage. Hexaware reported Q4 2024 revenue of $372.3 million (up 18.5% YoY) and full-year revenue of $1,428.9 million (up 13.7% YoY). EBITDA margins improved, with Q4 at 16.3% and full-year at 15.9%. The company expanded its client base, adding a $100 million+ revenue customer and increasing $20 million+ customers from 11 to 15.

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Hexaware Technologies , a leading global IT solutions provider, has announced a strategic collaboration with the San Francisco Unicorns cricket team, extending through the 2026 Major League Cricket season. This partnership comes on the heels of Hexaware's impressive financial results for the fourth quarter and full year of 2024, showcasing the company's robust growth and expansion strategies.
Cricket Meets Tech: A Winning Partnership
The collaboration with the San Francisco Unicorns positions Hexaware as an Official Partner of the Bay Area's cricket team. As part of this association, Hexaware's branding will be prominently featured on the team's helmets and caps, along with perimeter signage displays. This move aligns with Hexaware's efforts to promote sports and enhance fan engagement through innovative technology solutions.
R Srikrishna, CEO and Executive Director of Hexaware, expressed enthusiasm about the partnership, stating, "At Hexaware, we are passionate about leveraging technology to create extraordinary experiences, and partnering with the San Francisco Unicorns is a testament to that. Together, we look forward to help bring innovation to the dynamic world of cricket and engaging with fans in meaningful and impactful ways."
Strong Financial Foundations
The timing of this announcement coincides with Hexaware's release of its financial results for Q4 and full-year 2024, painting a picture of a company on solid financial footing:
- Q4 2024 Revenue: $372.3 million, up 18.5% year-over-year
- Full-year 2024 Revenue: $1,428.9 million, a 13.7% increase from 2023
- Q4 2024 EBITDA: 16.3% margin, expanding 326 basis points year-over-year
- Full-year 2024 EBITDA: 15.9% margin, up 59 basis points from 2023
Key Financial Highlights
Metric | Q4 2024 | YoY Change | Full Year 2024 | YoY Change |
---|---|---|---|---|
Revenue | $372.3M | +18.5% | $1,428.9M | +13.7% |
EBITDA Margin | 16.3% | +326 bps | 15.9% | +59 bps |
EPS (INR) | 5.25 | +65.1% | 19.37 | +17.8% |
Strategic Growth and Client Expansion
Hexaware's financial performance reflects its success in expanding its client base and deepening existing relationships:
- Added 1 customer in the $100 million+ revenue category
- Increased the number of $20 million+ customers from 11 in 2023 to 15 in 2024
- Maintained a healthy client concentration, with the top 10 customers accounting for 35.8% of revenue in 2024
Looking Ahead
The collaboration with the San Francisco Unicorns and the strong financial results position Hexaware for continued growth in 2025 and beyond. As the company leverages its technological expertise to enhance fan engagement in cricket, it also continues to drive digital transformation for its diverse client base across various industries.
Nidhi Alexander, Chief Marketing Officer at Hexaware, summarized the significance of the partnership: "This collaboration is a proud milestone in Hexaware's journey of supporting sports. Partnering with the San Francisco Unicorns reflects our commitment to innovation and excellence, allowing us to create meaningful connections with fans while elevating our brand in the community."
As Hexaware steps up to the crease with the San Francisco Unicorns, it's clear that the company is not just playing the tech game but is also making strategic moves in the world of sports and entertainment, backed by a solid financial performance.
Historical Stock Returns for Hexaware Technologies
1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
---|---|---|---|---|---|
+5.99% | +5.74% | -11.19% | -12.39% | -12.39% | +380.61% |