XML 64 R48.htm IDEA: XBRL DOCUMENT v3.25.4
Operating Segments (Tables)
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information

The information below summarizes revenue and Segment Adjusted EBITDA for the year ended December 31, 2025:

 

 

 

Merchant Solutions

 

 

Digital Wallets

 

 

Total

 

Total external revenue

 

$

885,241

 

 

$

796,959

 

 

$

1,682,200

 

Interest revenue

 

$

1,573

 

 

$

17,615

 

 

$

19,188

 

Intersegment revenue (1)

 

$

17,854

 

 

$

153

 

 

$

18,007

 

 

 

$

904,668

 

 

$

814,727

 

 

$

1,719,395

 

Elimination of intersegment revenue (1)

 

 

 

 

 

 

 

$

(18,007

)

Total consolidated revenues

 

 

 

 

 

 

 

$

1,701,388

 

Less:

 

 

 

 

 

 

 

 

 

Cost of services (excluding depreciation and amortization) (1)

 

$

518,428

 

 

$

240,776

 

 

 

 

Selling, general and administrative (2)

 

$

240,546

 

 

$

222,217

 

 

 

 

Segment Adjusted EBITDA

 

$

145,694

 

 

$

351,734

 

 

$

497,428

 

 

The information below summarizes revenue and Segment Adjusted EBITDA for the year ended December 31, 2024:

 

 

 

Merchant Solutions

 

 

Digital Wallets

 

 

Total

 

Total external revenue

 

$

936,907

 

 

$

734,476

 

 

$

1,671,383

 

Interest revenue

 

$

2,501

 

 

$

30,951

 

 

$

33,452

 

Intersegment revenue (1)

 

$

18,215

 

 

$

78

 

 

$

18,293

 

 

 

$

957,623

 

 

$

765,505

 

 

$

1,723,128

 

Elimination of intersegment revenue (1)

 

 

 

 

 

 

 

$

(18,293

)

Total consolidated revenues

 

 

 

 

 

 

 

$

1,704,835

 

Less:

 

 

 

 

 

 

 

 

 

Cost of services (excluding depreciation and amortization) (1)

 

$

518,792

 

 

$

215,263

 

 

 

 

Selling, general and administrative (2)

 

$

247,980

 

 

$

211,217

 

 

 

 

Segment Adjusted EBITDA

 

$

190,851

 

 

$

339,025

 

 

$

529,876

 

 

The information below summarizes revenue and Segment Adjusted EBITDA for the year ended December 31, 2023:

 

 

 

Merchant Solutions

 

 

Digital Wallets

 

 

Total

 

Total external revenue

 

$

864,816

 

 

$

697,341

 

 

$

1,562,157

 

Interest revenue

 

$

1,792

 

 

$

37,189

 

 

$

38,981

 

Intersegment revenue (1)

 

$

11,738

 

 

$

139

 

 

$

11,877

 

 

 

$

878,346

 

 

$

734,669

 

 

$

1,613,015

 

Elimination of intersegment revenue (1)

 

 

 

 

 

 

 

$

(11,877

)

Total consolidated revenues

 

 

 

 

 

 

 

$

1,601,138

 

Less:

 

 

 

 

 

 

 

 

 

Cost of services (excluding depreciation and amortization) (1)

 

$

469,090

 

 

$

205,999

 

 

 

 

Selling, general and administrative (2)

 

$

187,102

 

 

$

209,964

 

 

 

 

Segment Adjusted EBITDA

 

$

222,154

 

 

$

318,706

 

 

$

540,860

 
Reconciliation from Segment Adjusted EBITDA to the Company's income / (loss)

A reconciliation of total segments Adjusted EBITDA to the Company’s (loss) / income from operations before taxes is as follows:

 

 

 

Year Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Segments Adjusted EBITDA

 

$

497,428

 

 

$

529,876

 

 

$

540,860

 

Unallocated Corporate costs (3)

 

 

(68,580

)

 

 

(77,822

)

 

 

(82,197

)

Depreciation and amortization

 

 

(274,107

)

 

 

(273,364

)

 

 

(263,433

)

Share-based compensation

 

 

(32,304

)

 

 

(38,534

)

 

 

(28,873

)

Impairment expense on goodwill and intangible assets

 

 

(1,423

)

 

 

(823

)

 

 

(1,254

)

Restructuring and other costs

 

 

(48,366

)

 

 

(5,178

)

 

 

(6,061

)

Loss on disposal of subsidiaries and other assets, net

 

 

(732

)

 

 

(801

)

 

 

(386

)

Other (expense) / income, net

 

 

(7,563

)

 

 

21,475

 

 

 

13,081

 

Interest expense, net

 

 

(136,414

)

 

 

(140,805

)

 

 

(151,148

)

(Loss) / income before taxes

 

$

(72,061

)

 

$

14,024

 

 

$

20,589

 

 

(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 Consolidated Statement of Comprehensive (Loss) / Income.
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Area

The information below summarizes revenue by geographic area for the years ended December 31, 2025, 2024 and 2023.

 

 

 

Year Ended December 31,

 

 

 

2025

 

 

2024

 

 

2023

 

United States of America

 

$

829,676

 

 

$

891,993

 

 

$

824,919

 

Germany

 

 

122,817

 

 

 

107,140

 

 

 

102,639

 

United Kingdom

 

 

35,075

 

 

 

29,831

 

 

 

27,450

 

All other countries (1)

 

 

694,632

 

 

 

642,419

 

 

 

607,149

 

Revenue from external customers

 

$

1,682,200

 

 

$

1,671,383

 

 

$

1,562,157

 

 

(1)
No single country included in the “All other countries” category generated more than 10% of revenues. The revenue included within this category is predominately earned in Latin America, North America and Europe.

The Company has no single customer contributing 10% or more of the Company’s revenue in the period.

The information below summarizes long-lived assets, net by geographic area for the years ended December 31, 2025 and 2024.

 

 

 

Year Ended December 31,

 

 

 

2025

 

 

2024

 

United Kingdom

 

$

19,853

 

 

$

19,708

 

United States of America

 

 

16,072

 

 

 

17,627

 

Bulgaria

 

 

10,388

 

 

 

10,375

 

Ireland

 

 

9,325

 

 

 

6,616

 

Canada

 

 

3,593

 

 

 

4,792

 

All other countries (1)

 

 

9,398

 

 

 

5,799

 

Total long lived assets, net

 

$

68,629

 

 

$

64,917

 

 

(1)
No single country included in the "All other countries" category generated more than 10% of total long-lived assets.