Segment Information (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of Selected Financial Data by Reportable Segment

The following is selected financial data for the Company’s reportable segments for the periods indicated (in thousands):


	Three Months Ended March 31, 2026
	Payment Software		Biller		Total
Revenue	$	213,461	$	212,288	$	425,749
Less:
Interchange (a)	—		146,228		146,228
Global technology and innovation (b)	67,375		11,887		79,262
Other segment items (c)	32,750		20,204		52,954
Segment adjusted EBITDA	$	113,336	$	33,969	$	147,305
Reconciliation of income before income taxes
Depreciation and amortization					(25,319)
Stock-based compensation expense					(16,957)
Corporate and unallocated expenses					(47,539)
Interest, net					(8,592)
Other, net					1,526
Income before income taxes					$	50,424

	Three Months Ended March 31, 2025
	Payment Software		Biller		Total
Revenue	$	200,725	$	193,840	$	394,565
Less:
Interchange (a)	—		130,828		130,828
Global technology and innovation (b)	64,667		13,236		77,903
Other segment items (c)	29,497		18,881		48,378
Segment adjusted EBITDA	$	106,561	$	30,895	$	137,456
Reconciliation of loss before income taxes
Depreciation and amortization					(23,985)
Stock-based compensation expense					(11,627)
Corporate and unallocated expenses					(43,328)
Interest, net					(10,619)
Other, net					23,740
Income before income taxes					$	71,637

(a) Interchange – Interchange costs include all payment card interchange fees, amounts payable to banks, and payment card processing fees associated with providing services to Biller customers.

(b) Global Technology & Innovation – (“GTI”) costs include the costs of maintaining software products, as well as the costs required to deliver, install, and support software at customer sites. It also includes maintenance costs, which are the efforts associated with providing the customer with upgrades, 24-hour help desk, post go-live (remote) support, and production-type support for software that was previously installed at a customer location. GTI includes costs to provide SaaS and PaaS services including our data center operations. Service costs, including human resource and other incidental costs such as travel and training required for both pre go-live and post go-live support, are included. Such efforts include project management, delivery, product customization and implementation, installation support, consulting, configuration, and on-site support. GTI also includes research and development expenses which are primarily human resource costs related to the creation of new products, improvements made to existing products, as well as compatibility with new operating system releases and generations of hardware.

(c) Other segment items – other includes selling and marketing, product management, third-party royalties and other cost of goods sold excluding interchange. Selling and marketing costs, which are the costs related to selling our products to current and prospective customers as well as the costs related to promoting the Company, its products and the research efforts required to measure customers’ future needs and satisfaction levels. Selling costs are primarily the human resource and travel costs related to the effort expended to license our products and services to current and potential clients within defined territories and/or industries as well as the management of the overall relationship with customer accounts. Selling costs also include the costs associated with assisting distributors in their efforts to sell our products and services in their respective local markets. Product management costs are primarily the human resource costs related to developing and documenting our product requirements.

Schedule of Revenue by Primary Solution Category for Reportable Segments

The following is revenue by primary solution category for the Company’s reportable segments for the periods indicated (in thousands):


	Three Months Ended March 31, 2026
	Payment Software		Biller		Total
Primary solution categories
Bill payments	$	—	$	212,288	$	212,288

Merchant payments	47,026		—		47,026
Payments intelligence	9,437		—		9,437
Real-time payments	32,427		—		32,427
Issuing and acquiring	124,571		—		124,571
Total	$	213,461	$	212,288	$	425,749

	Three Months Ended March 31, 2025
	Payment Software		Biller		Total
Primary solution categories
Bill payments	$	—	$	193,840	$	193,840

Merchant payments	37,659		—		37,659
Payments intelligence	9,574		—		9,574
Real-time payments	25,738		—		25,738
Issuing and acquiring	127,754		—		127,754
Total	$	200,725	$	193,840	$	394,565


	Three Months Ended March 31,
		2026		2025
Payment Software
Software as a service and platform as a service		$	49,669	$	43,243
License		88,041		84,493
Maintenance		50,918		48,642
Services		24,833		24,347
Total		$	213,461	$	200,725
Biller
Software as a service and platform as a service		$	212,288	$	193,840



Total		$	212,288	$	193,840

Schedule of Revenue by Geographic Location

The following is the Company's revenue by geographic location for the periods indicated (in thousands):


	Three Months Ended March 31,
	2026		2025
Revenue
United States	$	273,710	$	236,754
Other	152,039		157,811
Total	$	425,749	$	394,565

Schedule of Long-lived Assets by Geographic Location

The following is the Company’s long-lived assets by geographic location for the periods indicated (in thousands):


	March 31, 2026		December 31, 2025
Long-lived assets
United States	$	1,090,183	$	1,106,051
Other	815,199		836,618
Total	$	1,905,382	$	1,942,669