XML 41 R28.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Segment Information (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2024
Segment Reporting [Abstract] |
Schedule of Selected Financial Data by Reportable Segment | The following is selected financial data for the Company’s reportable segments for the periods indicated (in thousands):
|  |  | Three Months Ended March 31,
|  |  |  |  | 2024 |  | 2023
Revenue |  |  |  |  |  |  |
Banks |  |  |  |  | $ | 105,429 |  |  | $ | 88,040 |
Merchants |  |  |  |  | 35,728 |  |  | 34,781 |
Billers |  |  |  |  | 174,862 |  |  | 166,855 |
Total revenue |  |  |  |  | $ | 316,019 |  |  | $ | 289,676 |
Segment Adjusted EBITDA |  |  |  |  |  |  |
Banks |  |  |  |  | $ | 41,638 |  |  | $ | 24,681 |
Merchants |  |  |  |  | 10,651 |  |  | 6,544 |
Billers |  |  |  |  | 30,737 |  |  | 29,641 |
Depreciation and amortization |  |  |  |  | (27,609) |  |  | (31,539) |
Stock-based compensation expense |  |  |  |  | (8,099) |  |  | (5,301) |
Corporate and unallocated expenses |  |  |  |  | (37,758) |  |  | (48,378) |
Interest, net |  |  |  |  | (15,001) |  |  | (15,387) |
Other, net |  |  |  |  | (2,025) |  |  | (3,395) |
Loss before income taxes |  |  |  |  | $ | (7,466) |  |  | $ | (43,134) |
Schedule of Revenue by Primary Solution Category for Reportable Segments | The following is revenue by primary solution category for the Company’s reportable segments for the periods indicated (in thousands):
| Three Months Ended March 31, 2024
| Banks |  | Merchants |  | Billers |  | Total
Primary Solution Categories |  |  |  |  |  |  |
Bill Payments | $ | — |  |  | $ | — |  |  | $ | 174,862 |  |  | $ | 174,862 |
Merchant Payments | — |  |  | 35,728 |  |  | — |  |  | 35,728 |
Fraud Management | 11,507 |  |  | — |  |  | — |  |  | 11,507 |
Real-Time Payments | 24,748 |  |  | — |  |  | — |  |  | 24,748 |
Issuing and Acquiring | 69,174 |  |  | — |  |  | — |  |  | 69,174 |
Total | $ | 105,429 |  |  | $ | 35,728 |  |  | $ | 174,862 |  |  | $ | 316,019 |
| Three Months Ended March 31, 2023
| Banks |  | Merchants |  | Billers |  | Total
Primary Solution Categories |  |  |  |  |  |  |
Bill Payments | $ | — |  |  | $ | — |  |  | $ | 166,855 |  |  | $ | 166,855 |
Merchant Payments | — |  |  | 34,781 |  |  | — |  |  | 34,781 |
Fraud Management | 9,355 |  |  | — |  |  | — |  |  | 9,355 |
Real-Time Payments | 19,398 |  |  | — |  |  | — |  |  | 19,398 |
Issuing and Acquiring | 59,287 |  |  | — |  |  | — |  |  | 59,287 |
Total | $ | 88,040 |  |  | $ | 34,781 |  |  | $ | 166,855 |  |  | $ | 289,676 |
|  |  | Three Months Ended March 31,
|  |  |  |  | 2024 |  | 2023
Banks |  |  |  |  |  |  |
Software as a service and platform as a service |  |  |  |  | $ | 10,518 |  |  | $ | 9,249 |
License |  |  |  |  | 28,533 |  |  | 16,316 |
Maintenance |  |  |  |  | 44,326 |  |  | 46,342 |
Services |  |  |  |  | 22,052 |  |  | 16,133 |
Total |  |  |  |  | $ | 105,429 |  |  | $ | 88,040 |
Merchants |  |  |  |  |  |  |
Software as a service and platform as a service |  |  |  |  | $ | 30,352 |  |  | $ | 28,850 |
License |  |  |  |  | 1,440 |  |  | 2,015 |
Maintenance |  |  |  |  | 3,428 |  |  | 3,737 |
Services |  |  |  |  | 508 |  |  | 179 |
Total |  |  |  |  | $ | 35,728 |  |  | $ | 34,781 |
Billers |  |  |  |  |  |  |
Software as a service and platform as a service |  |  |  |  | $ | 174,862 |  |  | $ | 166,831 |
License |  |  |  |  | — |  |  | — |
Maintenance |  |  |  |  | — |  |  | 24 |
Services |  |  |  |  | — |  |  | — |
Total |  |  |  |  | $ | 174,862 |  |  | $ | 166,855 |
Schedule of Revenue by Geographic Location | The following is the Company's revenue by geographic location for the periods indicated (in thousands):
| Three Months Ended March 31,
| 2024 |  | 2023
Revenue |  |  |
United States | $ | 228,107 |  |  | $ | 201,269 |
Other | 87,912 |  |  | 88,407 |
Total | $ | 316,019 |  |  | $ | 289,676 |
Schedule of Long-lived Assets by Geographic Location | The following is the Company’s long-lived assets by geographic location for the periods indicated (in thousands):
| March 31, 2024 |  | December 31, 2023
Long-lived Assets |  |  |
United States | $ | 1,209,207 |  |  | $ | 1,216,158 |
Other | 736,375 |  |  | 763,437 |
Total | $ | 1,945,582 |  |  | $ | 1,979,595 |

X
- Definition Tabular disclosure of long-lived assets, excluding financial instruments, long-term customer relationships of a financial institution, mortgage rights, deferred policy acquisition costs, and deferred tax assets, by geographic areas located in the entity's country of domicile and foreign countries in which the entity holds assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph b -SubTopic 10 -Topic 280 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_LongLivedAssetsByGeographicAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of revenue from external customers by geographic areas attributed to the entity's country of domicile and to foreign countries from which the entity derives revenue. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph a -SubTopic 10 -Topic 280 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 + Details
Name: | us-gaap_ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration