Euronet Worldwide Reports First Quarter 2025 Financial Results - Highlighted by 18% Operating Income Growth
Euronet Worldwide (NASDAQ: EEFT) reported strong Q1 2025 financial results, with notable growth across all segments. The company achieved revenues of $915.5 million, up 7% year-over-year, and operating income of $75.2 million, an 18% increase.
Key highlights include:
- Net income of $38.4 million, or $0.85 diluted EPS
- Adjusted EBITDA of $118.7 million, up 9%
- Adjusted EPS of $1.13 ($1.33 excluding one-time tax charge)
The company's performance was driven by its global payment network focusing on high-value digital payments and cross-border transactions. All three segments - EFT Processing, epay, and Money Transfer - showed positive growth. The Money Transfer segment notably expanded its network to reach 4.0 billion bank accounts and 624,000 payment locations.
Euronet Worldwide (NASDAQ: EEFT) ha riportato risultati finanziari solidi nel primo trimestre 2025, con una crescita significativa in tutti i settori. L'azienda ha raggiunto ricavi per 915,5 milioni di dollari, in aumento del 7% su base annua, e un utile operativo di 75,2 milioni di dollari, con un incremento del 18%.
I punti salienti includono:
- Utile netto di 38,4 milioni di dollari, ovvero 0,85 dollari per azione diluita
- EBITDA rettificato di 118,7 milioni di dollari, in crescita del 9%
- Utile per azione rettificato di 1,13 dollari (1,33 dollari escludendo una tassa straordinaria)
La performance dell’azienda è stata guidata dalla sua rete globale di pagamenti, focalizzata su pagamenti digitali ad alto valore e transazioni transfrontaliere. Tutti e tre i segmenti - Elaborazione EFT, epay e Money Transfer - hanno mostrato una crescita positiva. Il segmento Money Transfer ha ampliato significativamente la propria rete, raggiungendo 4,0 miliardi di conti bancari e 624.000 punti di pagamento.
Euronet Worldwide (NASDAQ: EEFT) reportó sólidos resultados financieros en el primer trimestre de 2025, con un crecimiento notable en todos sus segmentos. La compañía alcanzó ingresos de 915,5 millones de dólares, un aumento del 7% interanual, y un ingreso operativo de 75,2 millones de dólares, un incremento del 18%.
Los aspectos destacados incluyen:
- Ingreso neto de 38,4 millones de dólares, o 0,85 dólares por acción diluida
- EBITDA ajustado de 118,7 millones de dólares, un aumento del 9%
- Utilidad por acción ajustada de 1,13 dólares (1,33 dólares excluyendo un cargo fiscal único)
El desempeño de la empresa fue impulsado por su red global de pagos, centrada en pagos digitales de alto valor y transacciones transfronterizas. Los tres segmentos — Procesamiento EFT, epay y Transferencia de Dinero — mostraron crecimiento positivo. El segmento de Transferencia de Dinero amplió notablemente su red para alcanzar 4.0 mil millones de cuentas bancarias y 624,000 puntos de pago.
Euronet Worldwide (NASDAQ: EEFT)는 2025년 1분기 강력한 재무 실적을 발표했으며, 모든 부문에서 눈에 띄는 성장을 기록했습니다. 회사는 9억 1,550만 달러의 매출을 달성하여 전년 대비 7% 증가했으며, 영업이익 7,520만 달러로 18% 상승했습니다.
주요 내용은 다음과 같습니다:
- 순이익 3,840만 달러, 희석 주당순이익 0.85달러
- 조정 EBITDA 1억 1,870만 달러, 9% 증가
- 조정 주당순이익 1.13달러 (일회성 세금 비용 제외 시 1.33달러)
회사의 성과는 고가치 디지털 결제와 국경 간 거래에 중점을 둔 글로벌 결제 네트워크에 의해 주도되었습니다. EFT 처리, epay, 머니 트랜스퍼 등 세 개 부문 모두 긍정적인 성장을 보였습니다. 특히 머니 트랜스퍼 부문은 네트워크를 확장하여 40억 개의 은행 계좌와 624,000개의 결제 지점을 확보했습니다.
Euronet Worldwide (NASDAQ : EEFT) a annoncé de solides résultats financiers pour le premier trimestre 2025, avec une croissance notable dans tous les segments. La société a réalisé un chiffre d'affaires de 915,5 millions de dollars, en hausse de 7 % sur un an, et un résultat opérationnel de 75,2 millions de dollars, soit une augmentation de 18 %.
Les points clés sont :
- Un bénéfice net de 38,4 millions de dollars, soit un BPA dilué de 0,85 dollar
- Un EBITDA ajusté de 118,7 millions de dollars, en hausse de 9 %
- Un BPA ajusté de 1,13 dollar (1,33 dollar hors charge fiscale exceptionnelle)
La performance de la société a été portée par son réseau mondial de paiement, axé sur les paiements numériques à forte valeur et les transactions transfrontalières. Les trois segments – traitement EFT, epay et transfert d’argent – ont affiché une croissance positive. Le segment transfert d’argent a notamment étendu son réseau pour atteindre 4,0 milliards de comptes bancaires et 624 000 points de paiement.
Euronet Worldwide (NASDAQ: EEFT) meldete starke Finanzergebnisse für das erste Quartal 2025 mit bemerkenswertem Wachstum in allen Segmenten. Das Unternehmen erzielte Einnahmen von 915,5 Millionen US-Dollar, ein Anstieg von 7 % im Jahresvergleich, und einen operativen Gewinn von 75,2 Millionen US-Dollar, was einem Zuwachs von 18 % entspricht.
Wichtige Highlights sind:
- Nettoeinkommen von 38,4 Millionen US-Dollar bzw. 0,85 US-Dollar verwässertes Ergebnis je Aktie
- Bereinigtes EBITDA von 118,7 Millionen US-Dollar, ein Anstieg um 9 %
- Bereinigtes Ergebnis je Aktie von 1,13 US-Dollar (1,33 US-Dollar ohne einmalige Steuerbelastung)
Die Leistung des Unternehmens wurde durch sein globales Zahlungsnetzwerk angetrieben, das sich auf hochwertige digitale Zahlungen und grenzüberschreitende Transaktionen konzentriert. Alle drei Segmente – EFT Processing, epay und Geldtransfer – verzeichneten positives Wachstum. Das Geldtransfersegment hat sein Netzwerk deutlich erweitert und erreicht nun 4,0 Milliarden Bankkonten sowie 624.000 Zahlungsstellen.
- Revenue increased 7% YoY to $915.5 million
- Operating income grew 18% to $75.2 million
- Net income rose 46% YoY from $26.2M to $38.4M
- Money Transfer segment operating income increased 21%
- Direct-to-consumer digital transactions grew 31%
- Company reaffirmed 12-16% earnings growth guidance for the year
- Share repurchase of 0.6M shares expected to improve future EPS by 1%
- epay segment operating income growth to 1% due to $4.5M tax charge
- Total indebtedness increased to $2,202.5M from $1,949.8M in December 2024
- Intra-US transactions decreased in Money Transfer segment
Insights
Euronet delivers impressive Q1 with 18% operating income growth, margin expansion, and reaffirmed 12-16% annual earnings outlook.
Euronet Worldwide delivered exceptional Q1 2025 results with
The company demonstrated balanced growth across all three business segments. EFT Processing expanded into Dominican Republic and Peru while growing transactions
On an adjusted basis, earnings per share reached
The company's capital allocation strategy included repurchasing
Particularly encouraging was the expansion of Euronet's global payment network, which now reaches 4.0 billion bank accounts, 3.2 billion wallet accounts and 624,000 payment locations – positioning the company for continued cross-border transaction growth.
- Record first quarter results - revenue, operating income and adjusted EBITDA
- Operating margin expansion of 80 basis points
- Continued expansion of its leading cross-border payments network
LEAWOOD, Kan., April 23, 2025 (GLOBE NEWSWIRE) -- Euronet Worldwide, Inc. (“Euronet” or the “Company”) (NASDAQ: EEFT), a leading global financial technology solutions and payments provider, reports first quarter 2025 financial results.
Euronet reports the following consolidated results for the first quarter 2025 compared with the same period of 2024:
- Revenues of
$915.5 million , a7% increase from$857.0 million (9% increase on a constant currency1 basis). - Operating income of
$75.2 million , an18% increase from$64.0 million (22% increase on a constant currency basis). - Adjusted operating income2 of
$75.2 million , an18% increase from$63.6 million (23% increase on a constant currency basis). - Adjusted EBITDA3 of
$118.7 million , a9% increase from$108.8 million (12% increase on a constant currency basis). - Net income attributable to Euronet of
$38.4 million , or$0.85 diluted earnings per share, compared with$26.2 million , or$0.55 diluted earnings per share. - Adjusted earnings per share4 of
$1.13 ($1.33 excluding a one-time operating tax charge of$0.20 per share) compared to$1.28 ($1.13 excluding a one-time operating tax benefit of$0.15 per share).
See the reconciliation of non-GAAP items in the attached financial schedules.
"I am pleased that we achieved double-digit constant currency growth in adjusted operating income and adjusted EBITDA, highlighted by an
"I would offer that we do not see any direct impacts on our business as a result of the recent United States' tariff actions. With a good start to the year together with our diversified global business, we are reaffirming our expectation to produce
Segment and Other Results
The EFT Processing Segment reports the following results for the first quarter 2025 compared with the same period or date in 2024:
- Revenues of
$232.5 million , a7% increase from$217.2 million (10% increase on a constant currency basis). - Operating income of
$23.3 million , an8% increase from$21.5 million (13% increase on a constant currency basis). - Adjusted Operating income of
$23.3 million , a10% increase from$21.1 million (15% increase on a constant currency basis). - Adjusted EBITDA of
$47.6 million , a6% increase from$44.7 million (10% increase on a constant currency basis). - Transactions of 3,463 million, a
38% increase from 2,502 million. - Total of 55,512 installed ATMs as of March 31, 2025, a
5% increase from 53,029. We operated 51,875 active ATMs as of March 31, 2025, a5% increase from 49,290 as of March 31, 2024.
Constant currency revenue, operating income, and adjusted EBITDA growth in the first quarter 2025 was driven by market expansion, growth across most existing markets and the addition of access fees and interchange fees in certain markets.
Moreover, the EFT Processing Segment launched operations in two additional countries -- Dominican Republic and Peru.
Transaction growth outpaced revenue growth due to continued growth in high-volume low-value transactions in India.
The epay Segment reports the following results for the first quarter 2025 compared with the same period or date in 2024:
- Revenues of
$267.4 million , a4% increase from$257.1 million (8% increase on a constant currency basis). - Operating income of
$26.8 million , a1% increase from$26.6 million (5% increase on a constant currency basis). - Adjusted EBITDA of
$28.4 million , consistent with prior year (5% increase on a constant currency basis). - Transactions of 1,134 million, a
19% increase from 953 million. - POS terminals of approximately 735,000 as of March 31, 2025, consistent with prior year.
- Retailer locations of approximately 358,000 as of March 31, 2025, a
4% from 345,000.
Constant currency revenue growth was driven by continued payments, digital media and mobile growth. Operating income and adjusted EBITDA growth did not keep pace with revenue growth due to the payment of
epay's transactions benefited as well from the continuation of strong growth in high-volume low-value transactions in India.
The Money Transfer Segment reports the following results for the first quarter 2025 compared with the same period or date in 2024:
- Revenues of
$417.7 million , a9% increase from$384.6 million (10% increase on a constant currency basis). - Operating income of
$45.1 million , a21% increase from$37.2 million (23% increase on a constant currency basis). - Adjusted EBITDA of
$51.3 million , a15% increase from$44.5 million (17% increase on a constant currency basis). - Total transactions of 44.6 million, a
10% increase from 40.6 million. - Network locations of approximately 624,000 as of March 31, 2025, a
7% increase from approximately 583,000.
Constant currency revenue growth was primarily driven by double-digit growth in cross-border transactions, partially offset by a decrease in intra-US transactions. Direct-to-consumer digital transactions grew by
Additionally, the Money Transfer segment continued to expand its industry leading global payments network to now reach 4.0 billion bank accounts, 3.2 billion wallet accounts and 624,000 payment locations.
Corporate and Other reports
Balance Sheet and Financial Position
Unrestricted cash and cash equivalents on hand was
The Company repurchased 0.6 million shares for
During the quarter, Euronet repurchased
Non-GAAP Measures
In addition to the results presented in accordance with U.S. GAAP, the Company presents non-GAAP financial measures, such as constant currency financial measures, operating income, adjusted EBITDA, and adjusted earnings per share. These measures should be used in addition to, and not a substitute for, revenues, operating income, net income and earnings per share computed in accordance with U.S. GAAP. We believe that these non-GAAP measures provide useful information to investors regarding the Company's performance and overall results of operations. These non-GAAP measures are also an integral part of the Company's internal reporting and performance assessment for executives and senior management. The non-GAAP measures used by the Company may not be comparable to similarly titled non-GAAP measures used by other companies. The attached schedules provide a full reconciliation of these non-GAAP financial measures to their most directly comparable U.S. GAAP financial measure.
The Company does not provide a reconciliation of its forward-looking non-GAAP measures to GAAP due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for GAAP and the related GAAP and non-GAAP reconciliation, including adjustments that would be necessary for foreign currency exchange rate fluctuations and other charges reflected in the Company's reconciliation of historic numbers, the amount of which, based on historical experience, could be significant.
(1) Constant currency financial measures are computed as if foreign currency exchange rates did not change from the prior period. This information is provided to illustrate the impact of changes in foreign currency exchange rates on the Company's results when compared to the prior period.
(2) Adjusted operating income is defined as operating income excluding non-cash purchase accounting adjustments. Adjusted operating income represents a performance measure and is not intended to represent a liquidity measure.
(3) Adjusted EBITDA is defined as net income excluding, to the extent incurred in the period, interest expense, income tax expense, depreciation, amortization, share-based compensation and other non-cash purchase accounting adjustment, non-operating or non-recurring items that are considered expenses or income under U.S. GAAP. Adjusted EBITDA represents a performance measure and is not intended to represent a liquidity measure.
(4) Adjusted earnings per share is defined as diluted U.S. GAAP earnings per share excluding, to the extent incurred in the period, the tax-effected impacts of: a) foreign currency exchange gains or losses, b) share-based compensation, c) acquired intangible asset amortization, d) non-cash income tax expense, e) non-cash purchase accounting adjustment f) non-cash investment gain g) other non-operating or non-recurring items and h) dilutive shares relate to the Company's convertible bonds. Adjusted earnings per share represents a performance measure and is not intended to represent a liquidity measure.
Conference Call and Slide Presentation
Euronet Worldwide will host an analyst conference call on April 24, 2025, at 9:00 a.m. Eastern Time to discuss these results. The call may also include discussion of Company developments on the Company's operations, forward-looking information, and other material information about business and financial matters. To listen to the call via telephone please register at Euronet Worldwide First Quarter 2025 Earnings Call. The conference call will also be available via webcast at http://ir.euronetworldwide.com. Participants should register at least five minutes prior to the scheduled start time of the event. A slideshow will be included in the webcast. A webcast replay will be available beginning approximately one hour after the event at http://ir.euronetworldwide.com and will remain available for one year.
About Euronet Worldwide, Inc.
Starting in Central Europe in 1994 and growing to a global real-time digital and cash payments network with millions of touchpoints today, Euronet now moves money in all the ways consumers and businesses depend upon. This includes money transfers, credit/debit card processing, ATMs, POS services, branded payments, foreign currency exchange and more. With products and services in more than 200 countries and territories provided through its own brand and branded business segments, Euronet and its financial technologies and networks make participation in the global economy easier, faster and more secure for everyone.
A leading global financial technology solutions and payments provider, Euronet has developed an extensive global payments network that includes 55,512 installed ATMs, approximately 1,214,000 EFT POS terminals and a growing portfolio of outsourced debit and credit card services which are under management in 69 countries; card software solutions; a prepaid processing network of approximately 735,000 POS terminals at approximately 358,000 retailer locations in 64 countries; and a global money transfer network of approximately 624,000 locations serving - countries and territories. Euronet serves clients from its corporate headquarters in Leawood, Kansas, USA, and 67 worldwide offices. For more information, please visit the Company's website at www.euronetworldwide.com.
Statements contained in this news release that concern Euronet's or its management's intentions, expectations, or predictions of future performance, are forward-looking statements. Euronet's actual results may vary materially from those anticipated in such forward-looking statements as a result of a number of factors, including: conditions in world financial markets and general economic conditions, including impacts from pandemics; inflation; the war in the Ukraine and the related economic sanctions and tariffs; military conflicts in the Middle East; our ability to successfully integrate any acquired operations; economic conditions in specific countries and regions; technological developments affecting the market for our products and services; our ability to successfully introduce new products and services; foreign currency exchange rate fluctuations; the effects of any breach of our computer systems or those of our customers or vendors, including our financial processing networks or those of other third parties; interruptions in any of our systems or those of our vendors or other third parties; our ability to renew existing contracts at profitable rates; changes in fees payable for transactions performed for cards bearing international logos or over switching networks such as card transactions on ATMs; our ability to comply with increasingly stringent regulatory requirements, including anti-money laundering, anti-terrorism, anti-bribery, consumer and data protection and privacy; changes in laws and regulations affecting our business, including tax and immigration laws and any laws regulating payments, including dynamic currency conversion transactions; changes in our relationships with, or in fees charged by, our business partners; competition; the outcome of claims and other loss contingencies affecting Euronet; the cost of borrowing (including fluctuations in interest rates), availability of credit and terms of and compliance with debt covenants; and renewal of sources of funding as they expire and the availability of replacement funding. These risks and other risks are described in the Company's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Copies of these filings may be obtained via the SEC's Edgar website or by contacting the Company. Any forward-looking statements made in this release speak only as of the date of this release. Except as may be required by law, Euronet does not intend to update these forward-looking statements and undertakes no duty to any person to provide any such update under any circumstances. The Company regularly posts important information to the investor relations section of its website.
| EURONET WORLDWIDE, INC. | |||||
| Condensed Consolidated Balance Sheets | |||||
| (in millions) | |||||
| As of | |||||
| March 31, | As of | ||||
| 2025 | December 31, | ||||
| (unaudited) | 2024 | ||||
| ASSETS | |||||
| Current assets: | |||||
| Cash and cash equivalents | $ | 1,393.6 | $ | 1,278.8 | |
| ATM cash | 700.3 | 643.8 | |||
| Restricted cash | 10.8 | 9.2 | |||
| Settlement assets | 1,418.6 | 1,522.7 | |||
| Trade accounts receivable, net | 330.5 | 284.9 | |||
| Prepaid expenses and other current assets | 319.9 | 297.1 | |||
| Total current assets | 4,173.7 | 4,036.5 | |||
| Property and equipment, net | 337.4 | 329.7 | |||
| Right of use lease asset, net | 146.1 | 132.1 | |||
| Goodwill and acquired intangible assets, net | 1,070.9 | 1,048.1 | |||
| Other assets, net | 325.4 | 288.1 | |||
| Total assets | $ | 6,053.5 | $ | 5,834.5 | |
| LIABILITIES AND EQUITY | |||||
| Current liabilities: | |||||
| Settlement obligations | $ | 1,418.6 | $ | 1,522.7 | |
| Accounts payable and other current liabilities | 843.6 | 841.0 | |||
| Current portion of operating lease liabilities | 50.8 | 48.3 | |||
| Short-term debt obligations | 295.4 | 814.0 | |||
| Total current liabilities | 2,608.4 | 3,226.0 | |||
| Debt obligations, net of current portion | 1,906.0 | 1,134.4 | |||
| Operating lease liabilities, net of current portion | 97.8 | 87.4 | |||
| Capital lease obligations, net of current portion | 1.1 | 1.4 | |||
| Deferred income taxes | 57.3 | 71.8 | |||
| Other long-term liabilities | 81.2 | 84.3 | |||
| Total liabilities | 4,751.8 | 4,605.3 | |||
| Equity | 1,301.7 | 1,229.2 | |||
| Total liabilities and equity | $ | 6,053.5 | $ | 5,834.5 | |
| EURONET WORLDWIDE, INC. | |||||||
| Consolidated Statements of Operations | |||||||
| (unaudited - in millions, except share and per share data) | |||||||
| Three Months Ended | |||||||
| March 31, | |||||||
| 2025 | 2024 | ||||||
| Revenues | $ | 915.5 | $ | 857.0 | |||
| Operating expenses: | |||||||
| Direct operating costs | 561.0 | 533.7 | |||||
| Salaries and benefits | 164.1 | 154.7 | |||||
| Selling, general and administrative | 83.0 | 71.9 | |||||
| Depreciation and amortization | 32.2 | 32.7 | |||||
| Total operating expenses | 840.3 | 793.0 | |||||
| Operating income | 75.2 | 64.0 | |||||
| Other income (expense): | |||||||
| Interest income | 5.3 | 5.7 | |||||
| Interest expense | (19.4 | ) | (14.9 | ) | |||
| Foreign currency exchange (loss) | (18.1 | ) | (12.5 | ) | |||
| Other income (expense) | 2.5 | (0.1 | ) | ||||
| Total other income (expense), net | (29.7 | ) | (21.8 | ) | |||
| Income before income taxes | 45.5 | 42.2 | |||||
| Income tax expense | (7.1 | ) | (16.0 | ) | |||
| Net income | 38.4 | 26.2 | |||||
| Net loss attributable to non-controlling interests | — | — | |||||
| Net income attributable to Euronet Worldwide, Inc. | $ | 38.4 | $ | 26.2 | |||
| Add: Interest expense from assumed conversion of convertible notes, net of tax | 1.0 | 0.9 | |||||
| Net income for diluted earnings per share calculation | $ | 39.4 | $ | 27.1 | |||
| Earnings per share attributable to Euronet | |||||||
| Worldwide, Inc. stockholders - diluted | $ | 0.85 | $ | 0.55 | |||
| Diluted weighted average shares outstanding | 46,239,523 | 48,962,583 | |||||
| EURONET WORLDWIDE, INC. | |||||||||||||||||||
| Reconciliation of Net Income to Operating Income (Expense) to Adjusted Operating Income (Expense) and Adjusted EBITDA | |||||||||||||||||||
| (unaudited - in millions) | |||||||||||||||||||
| Three months ended March 31, 2025 | |||||||||||||||||||
| EFT Processing | epay | Money Transfer | Corporate Services | Consolidated | |||||||||||||||
| Net income | $ | 38.4 | |||||||||||||||||
| Add: Income tax expense | 7.1 | ||||||||||||||||||
| Add: Total other expense, net | 29.7 | ||||||||||||||||||
| Operating income (expense) | $ | 23.3 | $ | 26.8 | $ | 45.1 | $ | (20.0 | ) | $ | 75.2 | ||||||||
| Add: Depreciation and amortization | 24.3 | 1.6 | 6.1 | 0.2 | 32.2 | ||||||||||||||
| Add: Share-based compensation | — | — | 0.1 | 11.2 | 11.3 | ||||||||||||||
| Earnings before interest, taxes, depreciation, amortization and share-based compensation (Adjusted EBITDA) | $ | 47.6 | $ | 28.4 | $ | 51.3 | $ | (8.6 | ) | $ | 118.7 | ||||||||
| Three months ended March 31, 2024 | |||||||||||||||||||
| EFT Processing | epay | Money Transfer | Corporate Services | Consolidated | |||||||||||||||
| Net income | $ | 26.2 | |||||||||||||||||
| Add: Income tax expense | 16.0 | ||||||||||||||||||
| Add: Total other expense, net | 21.8 | ||||||||||||||||||
| Operating income (expense) | $ | 21.5 | $ | 26.6 | $ | 37.2 | $ | (21.3 | ) | $ | 64.0 | ||||||||
| Less: Non-cash purchase accounting adjustment | (0.4 | ) | — | — | — | (0.4 | ) | ||||||||||||
| Adjusted operating income (1) | 21.1 | 26.6 | 37.2 | (21.3 | ) | 63.6 | |||||||||||||
| Add: Depreciation and amortization | 23.6 | 1.7 | 7.3 | 0.1 | 32.7 | ||||||||||||||
| Add: Share-based compensation | — | — | — | 12.5 | 12.5 | ||||||||||||||
| Earnings before interest, taxes, depreciation, amortization and share-based compensation, non-cash purchase accounting adjustment (Adjusted EBITDA) | $ | 44.7 | $ | 28.3 | $ | 44.5 | $ | (8.7 | ) | $ | 108.8 | ||||||||
(1) Adjusted operating income and Adjusted EBITDA are non-GAAP measures that should be considered in addition to, and not a substitute for, net income computed in accordance with U.S. GAAP.
| EURONET WORLDWIDE, INC. | |||||||
| Reconciliation of Adjusted Earnings per Share | |||||||
| (unaudited - in millions, except share and per share data) | |||||||
| Three Months Ended | |||||||
| March 31, | |||||||
| 2025 | 2024 | ||||||
| Net income attributable to Euronet Worldwide, Inc. | $ | 38.4 | $ | 26.2 | |||
| Foreign currency exchange loss | 18.1 | 12.5 | |||||
| Intangible asset amortization(1) | 4.5 | 5.5 | |||||
| Non-cash purchase accounting adjustment(2) | — | (0.4 | ) | ||||
| Share-based compensation(3) | 11.3 | 12.5 | |||||
| Income tax effect of above adjustments(4) | — | 0.6 | |||||
| Non-cash investment gain(5) | (3.0 | ) | — | ||||
| Non-cash GAAP tax expense (benefit)(6) | (19.3 | ) | 2.5 | ||||
| Adjusted earnings(7) | $ | 50.0 | $ | 59.4 | |||
| Adjusted earnings per share - diluted(7) | $ | 1.13 | $ | 1.28 | |||
| Diluted weighted average shares outstanding (GAAP) | 46,239,523 | 48,962,583 | |||||
| Effect of adjusted EPS dilution of convertible notes | (2,347,536 | ) | (2,781,818 | ) | |||
| Effect of unrecognized share-based compensation on diluted shares outstanding | 371,757 | 355,219 | |||||
| Adjusted diluted weighted average shares outstanding | 44,263,744 | 46,535,984 | |||||
(1) Intangible asset amortization of
(2) Non-cash purchase accounting expense adjustment of
(3) Share-based compensation of
(4) Adjustment is the aggregate U.S. GAAP income tax effect on the preceding adjustments determined by applying the applicable statutory U.S. federal, state and/or foreign income tax rates.
(5) Non-cash investment gain of
(6) Adjustment is the non-cash GAAP tax impact recognized on certain items such as the utilization of certain material net deferred tax assets and amortization of indefinite-lived intangible assets.
(7) Adjusted earnings and adjusted earnings per share are non-GAAP measures that should be considered in addition to, and not as a substitute for, net income and earnings per share computed in accordance with U.S. GAAP.
Contact: Euronet Worldwide, Inc. Stephanie Taylor +1-913-327-4200
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