Pyxl Case Study: AI Delivery, Gross Margin and EBITDA Margin | Maybank Advisors
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Case study · Pyxl · Digital marketing and technology

Pyxl cut the time to first concept by 42%. Gross margin expanded 13 points, EBITDA margin 18.

Pyxl used AI in three places: in producing the work itself, in the coordination required to run client accounts, and in the operations that decide how the firm spends its own capacity. Production got faster, while custom agents reduced manual coordination and gave operations a current view of utilization and project status.

No one was laid off. Headcount fell only where roles that left were not replaced, almost entirely in overhead and coordination.

The agency applied AI across real production work, redesigned parts of its delivery process around the new capability, and kept senior people accountable for the work that reached clients. The result was substantially less time required to get from a client brief to a first concept, without reducing the team.

Over ~9 months, gross margin expanded 1,300 basis points and EBITDA margin 1,800 basis points (13 and 18 percentage points). The important part of the case is not that AI made individual tasks faster. It is that Pyxl changed the operating model around that efficiency so the improvement showed up in the business.

−42%
Hours from brief to first concept
+1,300 bps
Gross margin
+1,800 bps
EBITDA margin
None
Layoffs
Percentage change measured against the agreed comparison period. Underlying client, revenue, cost and earnings figures are not published.

Pyxl · percentage change · internal evidence, one operating company

Pyxl
Where the value of the recovered time goes

Efficiency on its own is not a commercial result. Recovered time becomes capacity, and management decides what that capacity becomes.

Production leverage

Less time from brief to first concept

Operating leverage

Less manual coordination required to run accounts

01

Time saved

The same work requires materially less production time.

02

Capacity created

The hours do not disappear. They become available capacity inside the existing team.

03

Operating decision

What that capacity is used for: more work, more senior judgment, different scope, a different fee basis.

04

Margin or growth

The economics improve only if a decision was made at step three.

Conceptual · no figures attached to these steps

The situation

AI was already making work faster. That did not automatically make the agency more profitable.

Like most agencies, Pyxl began using generative AI inside work that had historically taken significant manual production time. Research, exploration, concept development and other repeatable parts of delivery could happen materially faster.

But faster work creates a second question. If a project takes fewer hours to produce, what happens to the hours that disappear?

They can become capacity, margin, more senior thinking or more work with the same team. Or they can be absorbed into the economics of the business with nothing to show for it. Pyxl treated the answer as a decision rather than a by-product.

What changed

AI became part of delivery, not a side experiment.

AI moved from however individuals happened to use it into deliberate client delivery.

The objective was not to automate the agency. It was to identify the parts of the work where AI could materially reduce production time while keeping human judgment, client context and senior review in the places where they mattered.

That meant redesigning parts of the delivery process around a different assumption: the first useful version of the work could now be produced much faster.

Pyxl then adjusted delivery expectations, staffing, capacity, scope and commercial decisions around the new economics rather than the historical number of hours required to produce the work.

The assumption the delivery process was built on

What the delivery process assumed, before and after.

Previously

The first useful version of the work takes as long as it has always taken.

After

The first useful version can be produced much faster, with judgment and review kept in place.

Conceptual · no figures attached

What happened

The work got faster. Production capacity stayed.

The most direct operating measure was the time between receiving a brief and producing the first concept. That fell 42%.

Pyxl did not respond by cutting production staff. There were no layoffs; the roles that fell away were overhead ones that were simply not refilled.

The productivity became capacity inside the existing team instead.

Reducing hours is an efficiency metric. What the business does with the recovered capacity is the commercial result.

Separately, custom agents reduced the amount of project-management and account-coordination work required to keep client teams informed and accounts on track.

The two operating measures shown here

Indexed to the baseline. Financial outcomes appear below.

Brief to first concept −42%
Baseline
After
Production capacity Unchanged
Baseline
After

Pyxl · approved figures · bar length indexed to the baseline

What changed around the work

Custom agents reduced the project-management coordination required to run accounts.

Pyxl's AI work was not limited to producing client deliverables faster.

Pyxl Intelligence reads signals across the systems where account work already lives — including Asana, Slack, Drive and email — and surfaces client-health concerns, portfolio-level context and account information without requiring a project manager or account lead to assemble it manually.

Maybank built Pyxl Intelligence inside Pyxl as its internal implementation. Maybank Service Intelligence is the client-facing version configured for professional services firms. The three surfaces are shown at the end of this section.

That reduced the amount of coordination work required to:

  • chase status across systems
  • assemble portfolio views
  • surface account risk
  • prepare internal account context
  • relay information between teams
  • reconstruct what was happening on an engagement

The objective was not to remove client service. It was to improve it: give the people responsible for clients better information earlier while reducing the administrative coordination required to provide it.

That allowed Pyxl to reduce the need for some non-production project-management capacity while keeping production talent focused on client work.

Where the account information comes from

Previously assembled by hand, by a project manager or account lead, across four systems.

Where the work lives

AsanaSlackDriveEmail

Reads the signals

Pyxl Intelligence

Surfaced without assembly

Client-health concernsPortfolio-level contextAccount information

Documented functionality · no figures attached

The third place: operations

Utilization and project management stopped being a month-end exercise.

The first two places changed how the work was produced and how accounts were coordinated. The third changed how Pyxl ran itself: the operating questions every services firm answers weekly, and usually answers late.

Utilization, hours, overdue tasks, project status and budget against fee were all recoverable before. They were recoverable by a person, from several systems, on a cycle set by how long that took. Running those reads on a schedule changed the cycle, not the numbers, and a shorter cycle is what makes the decision actionable.

Six operating questions, before and after

Not specific to an agency. Any firm that sells its people's time answers these.

Question

Answered before

Answered after

Utilization

Reported at month end, from timesheets that were often days behind.

Current, so a partner can see who is over and who is available while the week can still be changed.

Hours compliance

Chased by a project manager, person by person.

A scheduled check that notices the gap and asks the individual directly.

Overdue work

Found when someone went looking, or when a client asked.

Surfaced against the plan on a fixed cadence, before it becomes a client conversation.

Project status

Assembled for each internal review from four systems.

Assembled from the same systems on a schedule, with the exceptions called out.

Budget burn

Compared to fee at the point the invoice was raised.

Compared to fee while the engagement is still running.

Resourcing

Decided in a weekly meeting, on the numbers available in that meeting.

Decided against the current picture, with the meeting reserved for the judgment calls.

Pyxl · operating questions as described by the team, not a measured result

None of this is a claim about headcount. It is a claim about when a firm learns something it could act on. A utilization number that arrives on the eighth of the following month describes a month that is already finished.

This is also the least sector-specific of the three. The production work in place one looks different in a law firm than in an agency, and the account coordination in place two depends on how a firm is structured. Utilization, resourcing and project status look almost identical everywhere.

What reached the bottom line

Thirteen points of gross margin, eighteen points of EBITDA, and where the difference came from.

The 13-point expansion in gross margin reflects improved delivery economics. Because delivery costs sit in COGS, that improvement also flows through to EBITDA.

EBITDA margin expanded by 18 points in total, which means approximately five additional points of margin improvement occurred below gross profit through operating leverage — operating expenses either reduced, or growing more slowly than revenue.

How 13 points becomes 18

+1,300 bps

Gross margin, from delivery economics. Delivery cost sits in COGS, so this carries down the P&L.

+~500 bps

Additional margin below gross profit, from operating leverage over the same period.

+1,800 bps

EBITDA margin in total, August 2025 through Q2 2026.

Pyxl · margin expansion in percentage points · underlying margins not disclosed

Pyxl Intelligence — the operating-intelligence system Maybank built inside Pyxl — was designed to affect both sides of the operating model: making the work itself more efficient, and reducing the coordination and administrative friction surrounding that work. We are not claiming it produced all eighteen points, or that the incremental five came from any single expense category. What is accurate is that Pyxl changed its delivery model, its operating model and its use of AI over the period in which these results occurred.

“As Pyxl’s long-time Controller, I see the impact of AI through Pyxl Intelligence in the financial results, not just in anecdotal productivity gains. Over the past nine months, Pyxl has expanded gross margin by 13 percentage points and EBITDA margin by 18 percentage points. The gross-margin improvement reflects stronger delivery economics, and that gain flowed through to EBITDA. EBITDA expanded further as the company also generated additional operating leverage below gross profit. From a finance perspective, this is a meaningful improvement in the operating model, not simply a technology-efficiency story.”

Alban Howorth Controller, Pyxl and Founder, Howorth Accounting

Why Maybank exists

The difficult question comes after the efficiency appears.

Most firms begin with: where can we use AI? Pyxl learned that the more consequential question is: what changes in the business once the same work requires materially less time?

If nothing else changes, efficiency can simply create idle capacity or eventually become a lower price.

That is why Maybank works on delivery and economics together. Not because every engagement should look like Pyxl. Because every professional services firm that materially reduces the labor required to produce its work eventually has to answer the same question: who captures the value of the time that disappeared?

The same three surfaces, as they run

What can run, when it runs without being asked, and what it consumed.

The agent library, the schedule dispatcher and the usage ledger are the coordination layer described above. Client names have been replaced throughout. The agent library and scheduling are live Pyxl Intelligence capability; the usage ledger figures are representative rather than measured output.

Agent library
Pyxl

Intelligence Hub

Home Agents

Workspace

Conversations Knowledge Base Briefs Reports Settings

Admin

Clients Prompts Scheduling Operations Usage Audit log

Agent library

Browse the agency's AI agents

Launch the ones that are live; others are on the way. Each agent is scoped to a single client and follows Pyxl's universal standards.

All Strategy Content Paid Media Reporting New Business Clients Operations

Strategy

Strategy

Discovery, Briefing, and Campaign Planning

Expands a human-authored strategic insight brief into a full campaign plan; will not run without the brief attached.

Coming soon

Strategy

New Client Kickoff

Prepares kickoff agendas, intake questionnaires, proposed Asana structures, and onboarding plans from Drive, Asana, and AM-provided input.

Strategy

Competitive Intelligence

Broad competitive sweeps with a mandatory limitations section preceding any findings.

Coming soon

Content

Content

Blog and Long-Form Content

Drafts long-form content with a mandatory fact-check workflow before publication.

Content

Organic Social

Drafts organic social content batched two weeks at a time, with platform-specific voice references and a read-aloud test.

Content

Email Marketing

Drafts email marketing copy that requires a 15–30 minute editorial pass before any send workflow.

Coming soon
01  The agent library Every agent is scoped to one client and is built with explicit refusal and escalation conditions, so missing information is routed to human judgment rather than guessed through. Several are designed not to run at all without a human-authored brief attached.
Scheduling
Pyxl

Intelligence Hub

Home Agents

Workspace

Conversations Knowledge Base Briefs Reports Settings

Admin

Clients Prompts Scheduling Operations Usage Audit log

Scheduling

Schedule background jobs on a daily, weekly, monthly, custom-cron or one-time cadence. Scheduled and recurring operational runs are managed here. These schedules are the single source of truth for when the jobs run.

4 schedules. The dispatcher runs every minute; changes take effect on the next tick.

New schedule

Weekly Client Health Check Report

All-clients agent batch run Client Health Check Enabled Last: success

At 04:00 AM, only on Monday · 0 4 * * 1 (America/New_York)

Target: All clients · Prompt: custom · Delivery: aggregate, directors

Run now Disable Edit Runs (5)

Slack signals — all clients

Slack signals Enabled Last: success

On the hour, every 6 hours · 0 */6 * * * (UTC)

Target: All clients

Run now Disable Edit Runs (10)

Operations User — daily report

Operations User Enabled Last: success

At 12:00 AM, Tuesday through Saturday · 0 0 * * 2–6 (America/New_York)

Target: All clients

Run now Disable Edit Runs (8)
02  The schedule dispatcher This is where the coordination work went. The weekly client-health check runs across every client at 4am Monday and delivers one aggregated report to directors, without a project manager assembling it.
Usage
Pyxl

Intelligence Hub

Home Agents

Workspace

Conversations Knowledge Base Briefs Reports Settings

Admin

Clients Prompts Scheduling Operations Usage Audit log

Token & cost

Usage and operating cost by workflow. Figures shown are representative, not measured output.

Input: 8,857,745    Output: 484,420

Tokens per day

Stacked by token type.

Aug 23Aug 26Aug 29

Estimated cost per day

List-rate estimate.

Aug 23Aug 26Aug 29

Per-client usage

Operational totals only — no content.

Top clients

By turns, last 7 days.

Acme Water NewCo Retail Northwind Beverage Initech Pharmacy Globex Confections Contoso Group Umbrella Wellness Stark Home Wayne Studio Hooli Park
Client Turns Tokens
Acme Water7353,518
NewCo Retail5214,890
Northwind Beverage5295,802
03  The usage ledger Operational totals per client, no content. Cost is tracked as an internal reference figure rather than a billing rate, so the fee decision stays separate from the running cost.

Recognize any of this?

Forty-five minutes with a partner, no charge and no pitch.

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02

Illustrative sector use cases

Not client engagements

What an engagement looks like in your kind of firm

Each one sets out the problem we most often find in that sector, how the work flows before and after, what we would build against it, what we would refuse to do, and what a firm can reasonably expect in the first ninety days.

How this differs from part one

Everything above this point is one real affiliated-company operating case, with figures approved by Pyxl for publication.

Everything below it is composed from patterns we see repeatedly in a sector. No client is described, and no figure below is a measured result. Deeper sector detail lives on the sector pages.

The complete operating case

See how task productivity became an operating-model decision.

The narrated briefing connects the research, the Pyxl delivery changes, the financial bridge and the questions another professional services firm should ask before assuming the same result applies.

Watch the 18-minute briefing

Four chapters · Every figure cited · Includes the one-page service-line worksheet

Pick the sector closest to your firm

Illustrative · not a client engagement

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What we would not do

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Book a review See the sector page →

The surfaces we would take first, the review accountability on each and the shape of the first ninety days sit on the sector page.