v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net loss $ (95,401) $ (69,604)
Adjustments for non-cash items:    
Depreciation and amortization 138,779 136,753
Unrealized foreign exchange gain (1,796) (9,146)
Deferred tax (benefit) / expense (3,305) 8,294
Interest expense, net 6,558 10,160
Share-based compensation 40,208 18,916
Other (income) / expense, net (1,286) 488
Impairment expense on goodwill and other assets 223 1,295
Allowance for credit losses and other 27,943 17,333
Loss / (gain) on disposal of subsidiary and other assets, net 1,127 (450)
Non-cash lease expense 4,721 4,601
Movements in working capital:    
Accounts receivable, net (53,313) (13,951)
Prepaid expenses and other current assets (4,950) (11,534)
Accounts payable and other liabilities 30,939 (1,073)
Income tax payable / receivable (1,274) (17)
Net cash flows provided by operating activities 89,173 92,065
Cash flows in investing activities    
Purchase of property, plant & equipment (1,290) (7,144)
Purchase of merchant portfolios (8,324) (8,514)
Other intangible asset expenditures (51,692) (46,980)
Disposal of subsidiary 0 1,948
Cash inflow from merchant reserves 8,925 2,920
Cash outflow from merchant reserves (8,287) (7,163)
Receipts under derivative financial instruments 706 2,511
Contingent consideration received 807 0
Other investing activities 0 163
Net cash flows used in investing activities (59,155) (62,259)
Cash flows from financing activities    
Repurchases of shares withheld for taxes (5,622) (9,614)
Proceeds from employee share purchase plan 678 648
Purchase of treasury shares (13,028) (29,998)
Settlement funds - merchants and customers, net (43,905) (159,254)
Proceeds from loans and borrowings 104,965 61,323
Repayments of loans and borrowings (176,041) (30,387)
Proceeds under line of credit 418,000 426,000
Repayments under line of credit (426,000) (418,000)
Contingent consideration paid 0 (7,319)
Other financing activities 0 300
Net cash flows used in financing activities (140,953) (166,301)
Effect of foreign exchange rate changes (24,379) 116,531
Decrease in cash and cash equivalents, including customer accounts and other restricted cash during the period (135,314) (19,964)
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 1,209,974 1,278,615
Supplemental cash flow disclosures:    
Cash paid for interest 62,854 58,062
Cash paid for income taxes, net 19,452 18,087
Cash and cash equivalents 226,162 266,082
Customer accounts and other restricted cash 983,812 1,012,533
Total cash and cash equivalents, including customer accounts and other restricted cash $ 1,209,974 $ 1,278,615