v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash flows from operating activities    
Net loss $ (36,452) $ (19,472)
Adjustments for non-cash items:    
Depreciation and amortization 70,353 68,665
Unrealized foreign exchange gain (3,156) (5,169)
Deferred tax benefit (1,798) (12,129)
Interest expense, net 9,221 7,767
Share-based compensation 18,053 8,141
Other income, net (443) (809)
Impairment expense on goodwill and other assets 152 1,282
Allowance for credit losses and other 17,102 7,571
Loss / (gain) on disposal of subsidiary and other assets, net 758 (626)
Non-cash lease expense 2,354 2,336
Movements in working capital:    
Accounts receivable, net (35,336) (4,232)
Prepaid expenses and other current assets (2,840) (9,186)
Accounts payable and other liabilities 23,345 5,809
Income tax payable / receivable 2,553 2,531
Net cash flows provided by operating activities 63,866 52,479
Cash flows in investing activities    
Purchase of property, plant & equipment (519) (4,329)
Purchase of merchant portfolios (6,503) 0
Other intangible asset expenditures (21,032) (22,892)
Disposal of subsidiary 0 1,948
Cash inflow from merchant reserves 6,095 0
Cash outflow from merchant reserves (3,277) 0
Receipts under derivative financial instruments 604 1,312
Other investing activities 0 68
Net cash flows used in investing activities (24,632) (23,893)
Cash flows from financing activities    
Repurchases of shares withheld for taxes (11) (560)
Proceeds from employee share purchase plan 348 540
Purchase of treasury shares (4,834) (9,998)
Settlement funds - merchants and customers, net (17,900) (134,041)
Proceeds from loans and borrowings 56,861 0
Repayment of loans and borrowings (161,143) (22,839)
Proceeds under line of credit 210,000 197,000
Repayments under line of credit (210,000) (201,000)
Contingent consideration paid 0 (6,476)
Other financing activities 0 300
Net cash flows used in financing activities (126,679) (177,074)
Effect of foreign exchange rate changes (15,940) 39,144
Decrease in cash and cash equivalents, including customer accounts and other restricted cash during the period (103,385) (109,344)
Cash and cash equivalents, including customer accounts and other restricted cash at beginning of the period 1,345,288 1,298,579
Cash and cash equivalents at end of the period, including customer accounts and other restricted cash 1,241,903 1,189,235
Supplemental cash flow disclosures:    
Cash paid for interest 24,625 25,906
Cash paid for income taxes, net 7,226 6,539
Cash and cash equivalents 257,210 234,339
Customer accounts and other restricted cash 984,693 954,896
Total cash and cash equivalents, including customer accounts and other restricted cash $ 1,241,903 $ 1,189,235