| Schedule of Segment Reporting Information |
The information below summarizes revenue and Segment Adjusted EBITDA for the three months ended June 30, 2026:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Merchant Solutions |
|
|
Digital Wallets |
|
|
Total |
|
Total external revenue |
|
$ |
240,618 |
|
|
$ |
203,230 |
|
|
$ |
443,848 |
|
Interest Revenue |
|
|
349 |
|
|
|
3,247 |
|
|
|
3,596 |
|
Intersegment revenue (1) |
|
|
5,103 |
|
|
|
122 |
|
|
|
5,225 |
|
|
|
$ |
246,070 |
|
|
$ |
206,599 |
|
|
$ |
452,669 |
|
Elimination of intersegment revenue (1) |
|
|
|
|
|
|
|
$ |
(5,225 |
) |
Total consolidated revenues |
|
|
|
|
|
|
|
$ |
447,444 |
|
Less: |
|
|
|
|
|
|
|
|
|
Cost of services (excluding depreciation and amortization) (1) |
|
$ |
142,327 |
|
|
$ |
66,573 |
|
|
|
|
Selling, general and administrative (2) |
|
$ |
53,106 |
|
|
$ |
65,154 |
|
|
|
|
Segment Adjusted EBITDA |
|
$ |
50,637 |
|
|
$ |
74,872 |
|
|
$ |
125,509 |
|
The information below summarizes revenue and Segment Adjusted EBITDA for the three months ended June 30, 2025:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Merchant Solutions |
|
|
Digital Wallets |
|
|
Total |
|
Total external revenue |
|
$ |
226,666 |
|
|
$ |
196,553 |
|
|
$ |
423,219 |
|
Interest revenue |
|
|
397 |
|
|
|
4,602 |
|
|
|
4,999 |
|
Intersegment revenue (1) |
|
|
5,182 |
|
|
|
— |
|
|
|
5,182 |
|
|
|
$ |
232,245 |
|
|
$ |
201,155 |
|
|
$ |
433,400 |
|
Elimination of intersegment revenue (1) |
|
|
|
|
|
|
|
$ |
(5,182 |
) |
Total consolidated revenues |
|
|
|
|
|
|
|
$ |
428,218 |
|
Less: |
|
|
|
|
|
|
|
|
|
Cost of services (excluding depreciation and amortization) (1) |
|
$ |
136,368 |
|
|
$ |
58,994 |
|
|
|
|
Selling, general and administrative (2) |
|
$ |
56,202 |
|
|
$ |
59,497 |
|
|
|
|
Segment Adjusted EBITDA |
|
$ |
39,675 |
|
|
$ |
82,664 |
|
|
$ |
122,339 |
|
The information below summarizes revenue and Segment Adjusted EBITDA for the six months ended June 30, 2026:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Merchant Solutions |
|
|
Digital Wallets |
|
|
Total |
|
Total external revenue |
|
$ |
466,916 |
|
|
$ |
415,939 |
|
|
$ |
882,855 |
|
Interest revenue |
|
|
690 |
|
|
|
6,622 |
|
|
|
7,312 |
|
Intersegment revenue (1) |
|
|
9,757 |
|
|
|
122 |
|
|
|
9,879 |
|
|
|
$ |
477,363 |
|
|
$ |
422,683 |
|
|
$ |
900,046 |
|
Elimination of intersegment revenue (1) |
|
|
|
|
|
|
|
$ |
(9,879 |
) |
Total consolidated revenues |
|
|
|
|
|
|
|
$ |
890,167 |
|
Less: |
|
|
|
|
|
|
|
|
|
Cost of services (excluding depreciation and amortization) (1) |
|
$ |
274,998 |
|
|
$ |
131,230 |
|
|
|
|
Selling, general and administrative (2) |
|
$ |
123,619 |
|
|
$ |
121,641 |
|
|
|
|
Segment Adjusted EBITDA |
|
$ |
78,746 |
|
|
$ |
169,812 |
|
|
$ |
248,558 |
|
The information below summarizes revenue and Segment Adjusted EBITDA for the six months ended June 30, 2025:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Merchant Solutions |
|
|
Digital Wallets |
|
|
Total |
|
Total external revenue |
|
$ |
439,640 |
|
|
$ |
379,060 |
|
|
$ |
818,700 |
|
Interest revenue |
|
|
856 |
|
|
|
9,662 |
|
|
|
10,518 |
|
Intersegment revenue (1) |
|
|
9,535 |
|
|
|
— |
|
|
|
9,535 |
|
|
|
$ |
450,031 |
|
|
$ |
388,722 |
|
|
$ |
838,753 |
|
Elimination of intersegment revenue (1) |
|
|
|
|
|
|
|
$ |
(9,535 |
) |
Total consolidated revenues |
|
|
|
|
|
|
|
$ |
829,218 |
|
Less: |
|
|
|
|
|
|
|
|
|
Cost of services (excluding depreciation and amortization) (1) |
|
$ |
261,431 |
|
|
$ |
112,465 |
|
|
|
|
Selling, general and administrative (2) |
|
$ |
119,479 |
|
|
$ |
111,049 |
|
|
|
|
Segment Adjusted EBITDA |
|
$ |
69,121 |
|
|
$ |
165,208 |
|
|
$ |
234,329 |
|
|
| Reconciliation Of Adjusted EBITDA From Segments |
A reconciliation of total segments Adjusted EBITDA to the Company’s income before taxes is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the three months ended June 30, |
|
|
For the six months ended June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Segments Adjusted EBITDA |
|
$ |
125,509 |
|
|
$ |
122,339 |
|
|
$ |
248,558 |
|
|
$ |
234,329 |
|
Unallocated corporate costs (3) |
|
|
(22,702 |
) |
|
|
(17,342 |
) |
|
|
(46,513 |
) |
|
|
(34,162 |
) |
Depreciation and amortization |
|
|
(68,426 |
) |
|
|
(67,582 |
) |
|
|
(138,779 |
) |
|
|
(135,851 |
) |
Share-based compensation |
|
|
(22,155 |
) |
|
|
(10,775 |
) |
|
|
(40,208 |
) |
|
|
(18,916 |
) |
Restructuring and other costs |
|
|
(24,489 |
) |
|
|
(5,897 |
) |
|
|
(33,330 |
) |
|
|
(13,682 |
) |
Impairment expense on goodwill and other assets |
|
|
(71 |
) |
|
|
(13 |
) |
|
|
(223 |
) |
|
|
(1,295 |
) |
Other (expense) / income, net |
|
|
(3,788 |
) |
|
|
(6,714 |
) |
|
|
506 |
|
|
|
(5,891 |
) |
(Loss) / gain on disposal of subsidiaries and other assets, net |
|
|
(369 |
) |
|
|
(176 |
) |
|
|
(1,127 |
) |
|
|
450 |
|
Interest expense, net |
|
|
(35,566 |
) |
|
|
(34,549 |
) |
|
|
(69,412 |
) |
|
|
(68,222 |
) |
Loss before taxes |
|
$ |
(52,057 |
) |
|
$ |
(20,709 |
) |
|
$ |
(80,528 |
) |
|
$ |
(43,240 |
) |
(1)Intersegment revenue and related eliminations are primarily for credit card transactions and deposits between segments (2)Selling, general and administrative excludes share-based compensation costs which are not included in our definition of Adjusted EBITDA. (3)Corporate consists of corporate overhead and unallocated shared costs of people and other resources consumed in activities that provide a benefit across the Company. These costs are presented within "Selling, general and administrative" expense in the unaudited condensed consolidated statements of comprehensive loss.
|