v3.26.1
SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2026
SEGMENT INFORMATION  
SEGMENT INFORMATION

(13) SEGMENT INFORMATION

 

Euronet's Chief Executive Officer (CEO) is the Chief Operating Decision Maker (CODM) and is responsible for assessing performance and making resource allocation decisions across the Company's operating segments. The CODM evaluates segment performance primarily based on financial metrics such as revenue, operating income, and other key performance indicators. In making resource allocation decisions, the CODM reviews segment operating income and revenue on a monthly basis to assess profitability and efficiency across segments. Additionally, the CODM considers forecast-to-actual variances in revenue, operating income, and key performance indicators as part of the forecasting process. These measures are used to guide decisions related to capital investments, personnel allocation, and strategic initiatives across the Company’s segments. The CODM also evaluates segment-level profitability and return on assets when making long-term investment decisions and assessing segment performance relative to strategic goals. The accounting policies of the segments are the same as those described in the summary of significant accounting policies.

 

During 2026, the Company updated the names of its reportable operating segments to better align with its current business strategy and external communications. The changes were limited to the segment names and did not affect the composition of the reportable operating segments, the manner in which the Chief Operating Decision Maker evaluates segment performance, or the presentation of previously reported segment information.  The Company has changed the name of its EFT Processing Segment to Payments Infrastructure and the name of its Money Transfer Segment to Cross-Border Payments.  These name changes more accurately reflect the products and services provided by these segments.

Euronet's reportable operating segments have been determined in accordance with ASC Topic 280, Segment Reporting ("ASC 280"). The Company currently operates in the following three reportable operating segments:

 

1) Through the Payments Infrastructure Segment (formerly EFT Processing Segment), the Company processes transactions for a network of ATMs and POS terminals across Europe, the Middle East, Africa, Asia Pacific and the United States. Euronet provides comprehensive electronic payment solutions consisting of ATM cash withdrawal and deposit services, ATM network participation, outsourced ATM and POS management solutions, credit, debit and prepaid card outsourcing, dynamic currency conversion, domestic and international surcharges and other value added services. Through this segment, the Company also offers a suite of integrated electronic financial transaction software solutions for electronic payment and transaction delivery systems.

 

2) Through the epay Segment, Euronet provides distribution, processing and collection services for electronic payment products, and prepaid mobile airtime through a network of POS terminals in Europe, the Middle East, Asia Pacific, North America and South America. The epay Segment also provides vouchers and physical gift fulfillment services in Europe.

 

3) Through the Cross-Border Payments Segment (formerly Money Transfer Segment), Euronet provides global money transfers and currency exchange information in retail stores, apps, and websites through Ria, Xe and the Dandelion cross-border real-time payments network. Cross-Border Payments offers real-time, cross-border payments to consumers and businesses across more than 200 countries and territories, enabling banks, fintechs and big tech platforms to integrate an international payments solution into their own platforms. Ria offers real-time international money transfers with a special focus on emerging markets. In addition, Ria offers safe and affordable money transfers through a global network of cash locations and online, serving over 20 million customers annually. Xe offers web and app-based currency information and industry-leading consumer and business cross-border money transfer services. Customers can send money, buy property overseas, and execute other international payments via the Xe website or app. Dandelion offers consumer and business transaction processing and fulfillment with alternative payout channels like bank accounts, cash pick-up and mobile wallets. Dandelion powers cross-border payments for Xe and Ria, as well as third party banks, fintechs, and big tech platforms.

 

In addition, the Company accounts for non-operating activity, share-based compensation expense, certain intersegment eliminations and the costs of providing corporate and other administrative services in the administrative division, "Corporate Services, Eliminations and Other." These services are not directly identifiable with the Company’s reportable operating segments. 

 

The following tables present the Company's reportable segment results for the three months ended June 30, 2026 and 2025:

 

 

 

 

Three Months Ended June 30, 2026

(in millions)

 

 

Payments Infrastructure

 

 

epay

 

 

Cross-Border Payments

 

 

Corporate Services, Eliminations and Other

 

 

Consolidated

Total revenues

 

$

377.1

 

$

294.0

 

$

439.6

 

$

(2.3)

 

$

1,108.4

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Direct operating costs, exclusive of depreciation

 

 

191.0

 

 

218.5

 

 

232.3

 

 

(2.2)

 

 

639.6

Salaries and benefits

 

 

51.1

 

 

29.3

 

 

91.7

 

 

21.2

 

 

193.3

Selling, general and administrative

 

 

17.1

 

 

11.8

 

 

65.9

 

 

3.6

 

 

98.4

Depreciation and amortization

 

 

31.8

 

 

1.6

 

 

6.4

 

 

0.2

 

 

40.0

Total operating expenses

 

 

291.0

 

 

261.2

 

 

396.3

 

 

22.8

 

 

971.3

Operating income (loss)

 

$

86.1

 

$

32.8

 

$

43.3

 

$

(25.1)

 

$

137.1

 

 

 

 

Three Months Ended June 30, 2025

(in millions)

 

 

Payments Infrastructure

 

 

epay

 

 

Cross-Border Payments

 

 

Corporate Services, Eliminations and Other

 

 

Consolidated

Total revenues

 

$

338.5

 

$

280.1

 

$

457.9

 

$

(2.2)

 

$

1,074.3

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Direct operating costs, exclusive of depreciation

 

 

173.9

 

 

210.9

 

 

238.0

 

 

(2.2)

 

 

620.6

Salaries and benefits

 

 

39.7

 

 

26.6

 

 

88.2

 

 

19.0

 

 

173.5

Selling, general and administrative

 

 

14.3

 

 

9.8

 

 

60.1

 

 

3.6

 

 

87.8

Depreciation and amortization

 

 

26.0

 

 

1.7

 

 

6.0

 

 

0.1

 

 

33.8

Total operating expenses

 

 

253.9

 

 

249.0

 

 

392.3

 

 

20.5

 

 

915.7

Operating income (loss)

 

$

84.6

 

$

31.1

 

$

65.6

 

$

(22.7)

 

$

158.6

 

 

 

 

Six Months Ended June 30, 2026

(in millions)

 

 

Payments Infrastructure

 

 

epay

 

 

Cross-Border Payments

 

 

Corporate Services, Eliminations and Other

 

 

Consolidated

Total revenues

 

$

672.5

 

$

587.5

 

$

864.8

 

$

($4.6)

 

$

2,120.2

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Direct operating costs, exclusive of depreciation

 

 

366.2

 

 

440.0

 

 

455.3

 

 

(4.5)

 

 

1,257.0

Salaries and benefits

 

 

99.5

 

 

57.5

 

 

184.4

 

 

41.8

 

 

383.2

Selling, general and administrative

 

 

33.7

 

 

21.7

 

 

127.1

 

 

8.5

 

 

191.0

Depreciation and amortization

 

 

63.6

 

 

3.1

 

 

12.8

 

 

0.4

 

 

79.9

Total operating expenses

 

 

563.0

 

 

522.3

 

 

779.6

 

 

46.2

 

 

1,911.1

Operating income (expense)

 

$

109.5

 

$

65.2

 

$

85.2

 

$

(50.8)

 

$

209.1

 

 

 

 

Six Months Ended June 30, 2025

(in millions)

 

 

Payments Infrastructure

 

 

epay

 

 

Cross-Border Payments

 

 

Corporate Services, Eliminations and Other

 

 

Consolidated

Total revenues

 

$

571.0

 

$

547.5

 

$

875.6

 

$

(4.3)

 

$

1,989.8

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Direct operating costs, exclusive of depreciation

 

 

310.4

 

 

413.0

 

 

462.5

 

 

(4.3)

 

 

1,181.6

Salaries and benefits

 

 

75.2

 

 

50.7

 

 

176.1

 

 

35.6

 

 

337.6

Selling, general and administrative

 

 

27.2

 

 

22.6

 

 

114.2

 

 

6.8

 

 

170.8

Depreciation and amortization

 

 

50.3

 

 

3.3

 

 

12.1

 

 

0.3

 

 

66.0

Total operating expenses

 

 

463.1

 

 

489.6

 

 

764.9

 

 

38.4

 

 

1,756.0

Operating income (expense)

 

$

107.9

 

$

57.9

 

$

110.7

 

$

(42.7)

 

$

233.8

 

The following table presents the Company's total assets by reportable segment:

 

 

 

 

Total Assets as of

 

 

 

June 30, 2026

 

 

December 31, 2025

Payments Infrastructure

 

$

3,343.8

 

$

3,013.9

epay

 

 

910.2

 

 

1,251.5

Cross-Border Payments

 

 

1,806.2

 

 

1,885.1

Corporate Services, Eliminations and Other

 

 

432.9

 

 

338.2

   Total

 

$

6,493.1

 

$

6,488.7

 

The following table presents the Company's revenues disaggregated by segment and region. Sales and usage-based taxes are excluded from revenues. The Company believes disaggregation by segment and region best depicts how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. The disaggregation of revenues by segment and region is based on management's assessment of segment performance together with allocation of financial resources, both capital and operating support costs, on a segment and regional level. Both segments and regions benefit from synergies achieved through concentration of operations and are influenced by macro-economic, regulatory and political factors in the respective segment and region. 

 

 

 

 

Three Months Ended June 30, 2026

 

 

Six Months Ended June 30, 2026

(in millions)

 

 

Payments Infrastructure

 

 

epay

 

 

Cross-Border Payments

 

 

Total

 

 

Payments Infrastructure

 

 

epay

 

 

Cross-Border Payments

 

 

Total

Europe

 

$

267.7

 

$

205.6

 

$

196.5

 

$

669.8

 

$

442.1

 

$

408.0

 

$

388.0

 

$

1,238.1

North America

 

 

43.3

 

 

37.7

 

 

189.9

 

 

270.9

 

 

95.0

 

 

80.0

 

 

372.3

 

 

547.3

Asia Pacific

 

 

54.0

 

 

39.8

 

 

34.8

 

 

128.6

 

 

111.9

 

 

78.0

 

 

68.4

 

 

258.3

Other

 

 

12.1

 

 

10.9

 

 

18.4

 

 

41.4

 

 

23.5

 

 

21.5

 

 

36.1

 

 

81.1

Eliminations

 

 

—

 

 

—

 

 

—

 

 

(2.3)

 

 

—

 

 

—

 

 

—

 

 

(4.6)

Total

 

$

377.1

 

$

294.0

 

$

439.6

 

$

1,108.4

 

$

672.5

 

$

587.5

 

$

864.8

 

$

2,120.2

 

 

 

 

Three Months Ended June 30, 2025

 

 

Six Months Ended June 30, 2025

(in millions)

 

 

Payments Infrastructure

 

 

epay

 

 

Cross-Border Payments

 

 

Total

 

 

Payments Infrastructure

 

 

epay

 

 

Cross-Border Payments

 

 

Total

Europe

 

$

253.5

 

$

189.3

 

$

201.7

 

$

644.5

 

$

403.1

 

$

362.6

 

$

379.1

 

$

1,144.8

North America

 

 

20.2

 

 

43.1

 

 

205.0

 

 

268.3

 

 

39.0

 

 

87.3

 

 

395.8

 

 

522.1

Asia Pacific

 

 

55.5

 

 

36.0

 

 

33.7

 

 

125.2

 

 

112.9

 

 

74.7

 

 

66.3

 

 

253.9

Other

 

 

9.3

 

 

11.7

 

 

17.5

 

 

38.5

 

 

16.0

 

 

22.9

 

 

34.4

 

 

73.3

Eliminations

 

 

—

 

 

—

 

 

—

 

 

(2.2)

 

 

—

 

 

—

 

 

—

 

 

(4.3)

Total

 

$

338.5

 

$

280.1

 

$

457.9

 

$

1,074.3

 

$

571.0

 

$

547.5

 

$

875.6

 

$

1,989.8