v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Cash flows from operating activities:    
Net income $ 28,397 $ 33,296
Adjustments to reconcile net income to net cash provided by operating activities-    
Depreciation 9,956 11,409
Amortization 25,383 24,147
Loss on debt extinguishment 453 0
(Gain) loss on unrealized foreign currency transactions, net 889 (254)
Deferred income taxes (2,413) 2,311
Stock-based compensation 16,953 16,371
Changes in operating assets and liabilities, net of acquired amounts:    
Trade accounts receivable, net 1,147 892
Other current and non-current assets and liabilities (11,489) (11,154)
Income taxes payable/receivable (15,704) (11,937)
Trade accounts payable and accrued liabilities (9,191) (52,596)
Deferred revenue 4,414 1,269
Net cash provided by operating activities 48,795 13,754
Cash flows from investing activities:    
Purchases of software, property and equipment (7,152) (9,073)
Receipts from sale of software, property, and equipment 152 0
Business combinations, net of cash and settlement assets acquired of zero and $46,432 0 17,293
Net cash provided by (used in)investing activities (7,000) 8,220
Cash flows from financing activities:    
Proceeds from issuance of common stock 1,445 1,618
Payments of cash dividends (18,506) (18,088)
Repurchases of common stock (40,545) (27,943)
Deferred acquisition payments (314) (488)
Proceeds from long-term debt 150,625 15,000
Payments on long-term debt (151,250) (18,750)
Payments of debt financing costs (2,258) 0
Payments on financing obligations (1,277) (469)
Payments on financing obligations (882) 0
Settlement and merchant reserve activity (89,149) (88,703)
Net cash used in financing activities (152,111) (137,823)
Effect of exchange rate fluctuations on cash, cash equivalents and restricted cash 7,375 (2,438)
Net decrease in cash, cash equivalents, and restricted cash (102,941) (118,287)
Cash, cash equivalents and restricted cash, beginning of period 506,763 463,876
Cash, cash equivalents and restricted cash, end of period 403,822 345,589
Cash paid during the period for-    
Interest 12,632 13,566
Income taxes 31,213 23,822
Non-cash investing and financing activities:    
Software, property, and equipment included in current and non-current liabilities 11,803 9,017
Reconciliation of cash, cash equivalents and restricted cash:    
Cash and cash equivalents 145,875 110,435
Settlement and merchant reserve assets 256,145 232,054
Restricted cash included in current and non-current assets 1,802 3,100
Total cash, cash equivalents and restricted cash $ 403,822 $ 345,589