Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2025

Segment Reporting

Schedule of revenue and EBITDA of the company's reportable segments


	Three Months Ended September 30, 2025
	Debit and Credit			Prepaid Debit			Other			Intersegment Eliminations			Total
Net sales
Products	$	85,072		$	—		$	—		$	(619)		$	84,453
Services		30,200			23,335			—			(22)			53,513
Total net sales		115,272			23,335			—			(641)			137,966
Cost of sales
Products ⁽¹⁾		59,780			—			—			(619)			59,161
Services ⁽¹⁾		18,012			15,211			—			(22)			33,201
Depreciation and amortization		3,536			1,075			—			—			4,611
Total cost of sales		81,328			16,286			—			(641)			96,973
Gross profit		33,944			7,049			—			—			40,993
Operating expenses		12,667			1,166			14,142			—			27,975
Income (loss) from operations	$	21,277		$	5,883		$	(14,142)		$	—		$	13,018

EBITDA by segment:
Income (loss) from operations	$	21,277		$	5,883		$	(14,142)		$	—		$	13,018
Depreciation and amortization		4,113			1,134			868			—			6,115
Other expense		(238)			(1)			(290)			—			(529)
EBITDA	$	25,152		$	7,016		$	(13,564)		$	—		$	18,604

Gross profit margin		29.4%			30.2%			*			*			29.7%
EBITDA margin		21.8%			30.1%			*			*			13.5%


	Nine Months Ended September 30, 2025
	Debit and Credit			Prepaid Debit			Other			Intersegment Eliminations			Total
Net sales
Products	$	235,873		$	—		$	—		$	(1,295)		$	234,578
Services		86,676			69,270			—			(44)			155,902
Total net sales		322,549			69,270			—			(1,339)			390,480
Cost of sales
Products ⁽¹⁾		161,719			—			—			(1,295)			160,424
Services ⁽¹⁾		52,305			44,116			—			(44)			96,377
Depreciation and amortization		8,678			3,192			—			—			11,870
Total cost of sales		222,702			47,308			—			(1,339)			268,671
Gross profit		99,847			21,962			—			—			121,809
Operating expenses		33,814			3,909			47,541			—			85,264
Income (loss) from operations	$	66,033		$	18,053		$	(47,541)		$	—		$	36,545

EBITDA by segment:
Income (loss) from operations	$	66,033		$	18,053		$	(47,541)		$	—		$	36,545
Depreciation and amortization		9,912			3,376			2,589			—			15,877
Other (expense) income		(278)			5			(251)			—			(524)
EBITDA	$	75,667		$	21,434		$	(45,203)		$	—		$	51,898

Gross profit margin		31.0%			31.7%			*			*			31.2%
EBITDA margin		23.5%			30.9%			*			*			13.3%


	Three Months Ended September 30, 2024
	Debit and Credit			Prepaid Debit			Other			Intersegment Eliminations			Total
Net sales
Products	$	69,803		$	—		$	—		$	(155)		$	69,648
Services		29,952			25,173			—			(22)			55,103
Total net sales		99,755			25,173			—			(177)			124,751
Cost of sales
Products ⁽¹⁾		44,354			—			—			(155)			44,199
Services ⁽¹⁾		17,342			15,607			—			(22)			32,927
Depreciation and amortization		1,928			999			—			—			2,927
Total cost of sales		63,624			16,606			—			(177)			80,053
Gross profit		36,131			8,567			—			—			44,698
Operating expenses		9,096			1,456			16,348			—			26,900
Income (loss) from operations	$	27,035		$	7,111		$	(16,348)		$	—		$	17,798

EBITDA by segment:
Income (loss) from operations	$	27,035		$	7,111		$	(16,348)		$	—		$	17,798
Depreciation and amortization		2,198			1,061			894			—			4,153
Other income (expense)		31			(1)			(3,551)			—			(3,521)
EBITDA	$	29,264		$	8,171		$	(19,005)		$	—		$	18,430

Gross profit margin		36.2%			34.0%			*			*			35.8%
EBITDA margin		29.3%			32.5%			*			*			14.8%


	Nine Months Ended September 30, 2024
	Debit and Credit			Prepaid Debit			Other			Intersegment Eliminations			Total
Net sales
Products	$	192,636		$	—		$	—		$	(986)		$	191,650
Services		90,712			73,186			—			(43)			163,855
Total net sales		283,348			73,186			—			(1,029)			355,505
Cost of sales
Products ⁽¹⁾		124,880			—			—			(986)			123,894
Services ⁽¹⁾		50,921			43,721			—			(43)			94,599
Depreciation and amortization		5,757			2,651			—			—			8,408
Total cost of sales		181,558			46,372			—			(1,029)			226,901
Gross profit		101,790			26,814			—			—			128,604
Operating expenses		26,612			4,049			51,091			—			81,752
Income (loss) from operations	$	75,178		$	22,765		$	(51,091)		$	—		$	46,852

EBITDA by segment:
Income (loss) from operations	$	75,178		$	22,765		$	(51,091)		$	—		$	46,852
Depreciation and amortization		6,585			2,827			2,806			—			12,218
Other expense		(32)			(3)			(3,629)			—			(3,664)
EBITDA	$	81,731		$	25,589		$	(51,914)		$	—		$	55,406

Gross profit margin		35.9%			36.6%			*			*			36.2%
EBITDA margin		28.8%			35.0%			*			*			15.6%

*

Calculation not meaningful.

(1)

Exclusive of depreciation and amortization.

Schedule of reconciliation of total segment EBITDA to income before taxes


	Three Months Ended September 30,						Nine Months Ended September 30,
	2025			2024			2025			2024
Net income	$	2,308		$	1,293		$	7,600		$	12,749
Interest, net		8,746			13,458			24,500			26,413
Income tax expense (benefit)		1,435			(474)			3,921			4,026
Depreciation and amortization		6,115			4,153			15,877			12,218
EBITDA	$	18,604		$	18,430		$	51,898		$	55,406

Schedule of total assets of the company's reportable segments


		September 30,			December 31,
		2025			2024
Debit and Credit		$	334,879		$	248,970
Prepaid Debit			51,444			60,621
Other			20,737			40,066
Total assets		$	407,060		$	349,657

Total capital expenditures of the Company's reportable segments


		Nine Months Ended September 30,
		2025			2024
Debit and Credit		$	10,681		$	2,800
Prepaid Debit			2,809			1,382
Other			287			17
Total capital expenditures		$	13,777		$	4,199