Financial Data and Key Metrics Changes - In Q4 2025, adjusted EPS was $2.39, reflecting double-digit year-over-year earnings growth despite external pressures [24][25] - For the full year, revenue was $4.2 billion, adjusted operating income was $550 million, and adjusted EBITDA was $743 million, with adjusted EPS of $9.61, indicating another year of double-digit growth [33][34] - Consolidated operating margins expanded by approximately 30 basis points compared to the previous year, with expectations for continued margin improvement into 2026 [33] Business Line Data and Key Metrics Changes - The EFT segment showed strong performance with revenue growing 8%, adjusted operating income increasing 12%, and adjusted EBITDA growing 13% [25] - The epay segment experienced a revenue decline of approximately 2%, with adjusted operating income down 7% and adjusted EBITDA down 8%, attributed to macroeconomic pressures [26] - The money transfer segment saw a revenue decline of 1% year-over-year, with adjusted operating income down 6% and adjusted EBITDA down 5%, primarily due to macroeconomic conditions and immigration-related dynamics [27][28] Market Data and Key Metrics Changes - The global digital channel for money transfer delivered 31% transaction growth and 33% revenue growth in Q4, with a significant increase in new customer acquisitions [21] - The gaming-related branded payments business within epay accounted for 37% of total branded payments margin, benefiting from the growth in the global video game market, which was approximately $290 billion in 2025 [17] - Remittances into Mexico declined approximately 2% in Q4 2025, reflecting broader market trends, but the company managed to achieve a modest increase in remittance volumes for the year [28] Company Strategy and Development Direction - The company remains focused on executing growth initiatives across all segments, particularly in digital strategies and expanding its global network [5][10] - Recent acquisitions, including Kyodi and Credia Bank's merchant acquiring business, are expected to drive multiyear growth [9][12] - The company emphasizes a shift from traditional ATM ownership to a focus on payments infrastructure and merchant acquiring, enhancing its capabilities in modern payment processing [15] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenging operating environment due to immigration policy uncertainty and economic stress among lower-income consumers, but expressed confidence in the company's competitive position and growth initiatives [5][6] - The company anticipates adjusted EPS growth of 10%-15% in 2026, supported by a strong pipeline of growth initiatives and an optimized operating model [32] - Management highlighted the importance of maintaining a diversified business model to withstand macroeconomic pressures, ensuring resilience and continued growth [7][36] Other Important Information - The company returned approximately $388 million in capital to shareholders through share repurchases in 2025, reflecting a disciplined capital allocation strategy [8][34] - The company is actively pursuing digital growth opportunities across all segments, with a focus on enhancing customer experience and operational efficiency [31] Q&A Session Summary Question: Are there signs of improvement in macro issues affecting the business? - Management noted some positive trends in January but cautioned against over-optimism due to ongoing challenges in the operating environment [40][41] Question: What triggered the review of the money transfer business? - The review was initiated to ensure organizational alignment with the growth of the money transfer segment, which has seen significant success since the acquisition of Ria [45][47] Question: Can you provide details on the growth of the merchant processing business? - The merchant acquiring business has shown strong growth, with epay growing over 20% and EFT's merchant acquiring business growing over 30% [54] Question: What are the expectations for CoreCard in 2026? - Management expressed optimism about CoreCard's contribution, indicating that it is expected to perform well and potentially exceed previous revenue figures [75][78] Question: How does the company view the impact of competitors' partnerships? - Management indicated that the impact from competitors, such as Kroger's exclusive relationship, would be marginal and not significantly affect their business [82]

Fourth Quarter and Full Year 2025 Financial Results Michael J. Brown | Chairman, CEO and President Rick Weller | EVP & CFO Adam Godderz | General Counsel Euronet | www.euronet.com 1 020626-1 Forward Looking Statements 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 resul ...

Core Insights - Euronet reported a challenging financial performance in Q4 2025, with a focus on long-term value creation despite economic pressures, particularly in Money Transfer and epay segments [6][9] - The company achieved a full-year adjusted earnings per share growth of 12%, consistent with previous expectations, following a 15% increase in 2024 [7] Financial Performance - Q4 2025 revenues reached $1,108.7 million, a 6% increase from $1,047.3 million in Q4 2024, with a 1% increase on a constant currency basis [9] - Operating income for Q4 2025 was $101.0 million, an 18% decrease from $122.7 million in Q4 2024, reflecting a 23% decrease on a constant currency basis [9] - Full-year 2025 revenues totaled $4,244.2 million, a 6% increase from $3,989.8 million in 2024, with a 4% increase on a constant currency basis [9] - Full-year operating income was $529.8 million, a 5% increase from $503.2 million in 2024, with a 1% increase on a constant currency basis [9] Segment Performance - The Money Transfer segment experienced a 2% decline in U.S.-originated money transfers, while international-originated transfers grew by 1%, including a 32% increase in direct-to-consumer digital transactions [19] - The epay segment reported revenues of $303.3 million in Q4 2025, a 14% increase from $265.6 million in Q4 2024, with transactions increasing by 34% [15] - Euronet Merchant Services added approximately 3,700 new acquiring merchants in Q4 2025, demonstrating continued expansion [14] Strategic Initiatives - The company signed an agreement to acquire CrediaBank's merchant acquiring business, which will add approximately 20,000 merchants [8] - Euronet expanded its epay digital content distribution with Revolut to 20 countries, enhancing its global partnership [18] - A $20.4 million charge was recorded for a Money Transfer optimization initiative aimed at improving margins and driving growth in digital products [11][24] Balance Sheet and Financial Position - As of December 31, 2025, Euronet had cash and cash equivalents of $1,040.3 million, with total indebtedness of $2,021.8 million [26] - The company reported availability under its revolving credit facilities of approximately $1,780.5 million [26] Future Outlook - Euronet anticipates delivering another year of double-digit adjusted earnings growth in 2026, projected in the range of 10%-15%, excluding impacts from foreign exchange rates and other unforeseen factors [12]

Core Insights - Adyen reported a net revenue of 1.27 billion euros ($1.51 billion) for the second half of 2025, reflecting a 21% increase on a constant currency basis, indicating strong growth compared to European competitors and U.S. firms like PayPal and Stripe [1] - The full-year revenue for Adyen also rose by 21% to 2.36 billion euros, with the core profit margin expanding to 53% from 50% the previous year, driven by increased wallet share among existing customers and effective cost management [1] - The company forecasts revenue growth of 20-22% for 2026 and expects the EBITDA margin to exceed 55% by 2028 [1] Financial Performance - Adyen's revenue for the second half of 2025 was 1.27 billion euros, marking a 21% increase [1] - The full-year revenue reached 2.36 billion euros, also up 21% [1] - The core profit margin improved to 53%, up from 50% year-over-year [1] Market Position - Adyen has solidified its position in the market, outpacing struggling European rivals and competing effectively against U.S. giants [1] - The company processed 173 billion euros in transactions through point-of-sale terminals in the second half of the year, a 26% increase from the previous year [1] - Partnerships with key clients such as Starbucks and Uber have contributed to Adyen's growth in unified commerce [1]

PayPal Holdings ( PYPL ) has had better days, to say the least. The transactions and payments processing company is facing competitive pressures across its operating segments, and its just-released results put a stamp to those pressures. Adding to the woes is a leadershipAnalyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own op ...

Market Overview - Stocks opened higher but experienced a significant plunge, ultimately closing down with the S&P 500 down about 0.9% and the Nasdaq down about 1.4% [6][7] - The Dow Jones Industrial Average also closed down about 0.4% while the Russell 2000 managed to close positive, up 0.3% [7] Sector Performance - The information technology sector was the biggest underperformer, down more than 2%, despite strong performance from companies like Palantir [8] - The energy sector saw a rise of more than 3% due to an increase in crude prices [9] Company Highlights - Palantir was a notable gainer, finishing the day up about 6.8% after a revenue forecast for fiscal 2026 that exceeded Wall Street expectations, projecting a 61% annual revenue increase [10] - Amgen reported a fourth-quarter adjusted EPS of $5.29, beating estimates of $4.71, indicating strong performance from its top drugs [12] - Walmart's stock closed up about 3%, marking a 14% increase year-to-date, attributed to its digital transformation and technology integration [14][15] Homebuilders - Homebuilders' stocks rose nearly 6% in the session, with the homebuilding index up about 2.5%, as they seek to develop affordable housing solutions [16] Notable Decliners - PayPal shares fell more than 20% following the announcement of a new CEO after a failed turnaround plan [17] - Novo Nordisk shares dropped over 14% after the company projected a sales decline of 5% to 13%, exceeding analyst expectations of a 1.4% decline [19] Earnings Reports - Silicon Labs stock surged about 39% in aftermarket trading due to reports of advanced talks with Texas Instruments [21] - Chubb's fourth-quarter net premiums came in at $13.13 billion, slightly above street estimates, while its combined ratio was 81.2%, below the expected 84% [27][28]

Company Overview - Euronet is a global leader in payments processing and cross-border transactions, providing services such as money transfers, credit/debit processing, ATMs, point-of-sale services, branded payments, and currency exchange [4][5] - The company operates in over 200 countries and territories, facilitating participation in the global economy through its financial technologies and networks [4] Financial Results Announcement - Euronet will release its fourth quarter and full year 2025 earnings results on February 12, 2026, prior to market opening [1] - A conference call to discuss the results will take place on the same day at 9:00 a.m. Eastern Time [1] Conference Call Details - The conference call and accompanying slide show presentation will be accessible via webcast [2] - Participants wishing to join by telephone must register to receive dial-in information, with a recommendation to join five minutes early [2] Global Network and Services - Euronet supports a global real-time digital and cash payments network, including 57,534 installed ATMs and approximately 592,000 EFT point-of-sale terminals [5] - The company manages a growing portfolio of outsourced debit and credit card services in 69 countries and operates a global money transfer network with approximately 638,000 locations serving 199 countries [5]

Core Viewpoint - U.S. stocks are experiencing a downturn, particularly in the software sector, with Microsoft facing significant declines despite beating earnings and revenue forecasts due to concerns over slower growth in cloud computing and increased spending on AI infrastructure [1][2]. Group 1: Software Sector Performance - Microsoft shares fell 12%, marking their worst day since March 2020, as investors reacted negatively to its fiscal second quarter results [2]. - Other software companies, including ServiceNow, SAP, and Salesforce, also experienced heavy selling, indicating a broader trend of investors wanting to exit the software sector [2]. - The S&P 500 index decreased by 0.68%, the Nasdaq dropped by 1.45%, and the Dow fell by 0.17%, reflecting overall market struggles [2]. Group 2: Performance Outside Software Sector - Companies outside the software sector showed better performance, with Caterpillar and Mastercard reporting improved year-over-year quarterly results [4]. - Lockheed Martin forecasted 2026 earnings above Wall Street expectations, indicating strong prospects in the defense sector [4]. - Southwest Airlines projected strong full-year profits, and IBM exceeded earnings estimates in its fiscal year-end results [4]. - Meta reported strong sales in the first three months of its fiscal year, highlighting resilience in the social media space [4]. Group 3: Gold Market - Gold prices experienced volatility, reaching a record high above $5,500 per ounce before falling as investors took profits, but they later recovered to show a 1.19% increase [3]. - Despite the recent decline, gold is on track for its best month since the 1980s, driven by economic and geopolitical uncertainties [3].

Core Insights - DXC Technology has announced a strategic partnership with Euronet Worldwide to enhance issuing, revolving credit, and payment capabilities for financial institutions globally [1][5] - The collaboration aims to integrate DXC's Hogan core banking platform, which manages over 300 million deposit accounts and $5 trillion in deposits, with Euronet's Ren platform for modern issuing and payment solutions [2][5] Company Overview - DXC Technology is a leading enterprise technology partner that provides software, services, and solutions to global enterprises, focusing on modernizing and securing complex technology environments [6] - Euronet Worldwide is a global leader in payment processing and cross-border transactions, offering a wide range of services including money transfers, credit and debit processing, and ATM services across more than 200 countries [7] Partnership Objectives - The partnership will enable mutual clients to adopt pre-integrated issuing and payment solutions that support various credit and debit programs, enhancing operational efficiency and reducing time to market for new products [3][4] - The collaboration is designed to help banks and fintechs modernize their payment infrastructures, allowing them to compete effectively and expand their market offerings [5][6] Market Context - As competition in financial services intensifies, issuing and payments have become critical growth areas for banks, prompting investments in modern capabilities to meet rising consumer expectations for speed and flexibility [4][5] - The partnership is positioned to address the fragmented nature of current issuing and payment processes, enabling faster deployment and scalability for financial institutions [5][6]

Core Insights - Euronet has entered into a definitive agreement to acquire CrediaBank's merchant acquiring business, enhancing its position in Greece's payments market [1][3] - The transaction is expected to close in Q3 2026, pending regulatory approvals [2] - The combined operations are projected to process over $22 billion annually and serve more than 240,000 merchants [3] Merchant Acquiring Expansion - The merger will integrate CrediaBank's merchant portfolio with Euronet's existing operations, strengthening Euronet's market leadership in Greece [3] - This partnership aims to enhance service quality and expand product offerings through Euronet's technology and CrediaBank's branch network [4] Strategic Partnership - Euronet will establish a long-term strategic partnership with CrediaBank for exclusive sales distribution through the bank's branches [5] - The agreement is designed to diversify Euronet's revenue mix and provide multiple customer touchpoints in both digital and physical payment environments [6] Digital Wallet Initiative - Euronet and CrediaBank plan to launch a modern account-to-account consumer digital wallet, integrating national instant payment rails and loyalty services [7] - This initiative aligns with the growing trend towards cardless payment models in Europe [7] Financial Services Provision - Euronet will provide CrediaBank with issuing services for credit, debit, and prepaid cards, and will manage the bank's ATMs [9] - This collaboration will enable CrediaBank to offer Euronet's proprietary technology products, enhancing its service capabilities [9] Company Background - CrediaBank is the fifth largest bank in Greece, serving approximately 300,000 active customers through 65 branches [12] - Euronet is a global leader in payments processing, operating in over 200 countries with a comprehensive range of financial services [13][14]