XML 39 R28.htm IDEA: XBRL DOCUMENT v3.25.3

Segment Information (Tables)

9 Months Ended

Sep. 30, 2025

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 September 30, 2025
			Payment Software						Biller						Total
Revenue			$	284,022					$	198,337					$	482,359
Less:
Interchange (a)			—						135,253						135,253
Global technology and innovation (b)			69,339						12,525						81,864
Other segment items (c)			33,017						18,473						51,490
Segment Adjusted EBITDA			$	181,666					$	32,086					$	213,752
Reconciliation of income before income taxes
Depreciation and amortization															(24,140)
Stock-based compensation expense															(17,381)
Corporate and unallocated expenses															(44,525)
Interest, net															(11,135)
Other, net															1,551
Income before income taxes															$	118,122
			Three Months Ended September 30, 2024
			Payment Software						Biller						Total
Revenue			$	272,151					$	179,601					$	451,752
Less:
Interchange (a)			—						117,054						117,054
Global technology and innovation (b)			60,600						12,169						72,769
Other segment items (c)			30,896						19,458						50,354
Segment Adjusted EBITDA			$	180,655					$	30,920					$	211,575
Reconciliation of income before income taxes
Depreciation and amortization															(31,515)
Stock-based compensation expense															(11,346)
Corporate and unallocated expenses															(46,128)
Interest, net															(14,485)
Other, net															(823)
Income before income taxes															$	107,278

			Nine months ended September 30, 2025
			Payment Software						Biller						Total
Revenue			$	664,090					$	614,092					$	1,278,182
Less:
Interchange (a)			—						417,144						417,144
Global technology and innovation (b)			199,183						37,763						236,946
Other segment items (c)			93,402						56,419						149,821
Segment Adjusted EBITDA			$	371,505					$	102,766					$	474,271
Reconciliation of income before income taxes
Depreciation and amortization															(72,226)
Stock-based compensation expense															(45,419)
Corporate and unallocated expenses															(135,546)
Interest, net															(32,347)
Other, net															18,898
Income before income taxes															$	207,631
			Nine months ended September 30, 2024
			Payment Software						Biller						Total
Revenue			$	594,974					$	546,276					$	1,141,250
Less:
Interchange (a)			—						353,648						353,648
Global technology and innovation (b)			179,153						35,955						215,108
Other segment items (c)			88,290						57,581						145,871
Segment Adjusted EBITDA			$	327,531					$	99,092					$	426,623
Reconciliation of income before income taxes
Depreciation and amortization															(86,710)
Stock-based compensation expense															(30,165)
Corporate and unallocated expenses															(123,901)
Interest, net															(44,004)
Other, net															(1,692)
Income before income taxes															$	140,151

(a) Interchange – Interchange costs include all payment card interchange fees, amounts payable to banks, and payment card processing fees associated with providing services to Biller customers.

(b) Global Technology & Innovation – (“GTI”) costs include the costs of maintaining software products, as well as the costs required to deliver, install, and support software at customer sites. It also includes maintenance costs, which are the efforts associated with providing the customer with upgrades, 24-hour help desk, post go-live (remote) support, and production-type support for software that was previously installed at a customer location. GTI includes costs to provide SaaS and PaaS services including our data center operations. Service costs including human resource and other incidental costs such as travel and training required for both pre go-live and post go-live support. Such efforts include project management, delivery, product customization and implementation, installation support, consulting, configuration, and on-site support. GTI also includes research and development expenses which are primarily human resource costs related to the creation of new products, improvements made to existing products, as well as compatibility with new operating system releases and generations of hardware.

(c) Other segment items – other includes selling and marketing, product management, third-party royalties and other cost of goods sold excluding interchange. Selling and marketing costs, which are the costs related to selling our products to current and prospective customers as well as the costs related to promoting the Company, its products and the research efforts required to measure customers’ future needs and satisfaction levels. Selling costs are primarily the human resource and travel costs related to the effort expended to license our products and services to current and potential clients within defined territories and/or industries as well as the management of the overall relationship with customer accounts. Selling costs also include the costs associated with assisting distributors in their efforts to sell our products and services in their respective local markets. Product management costs are primarily the human resource costs related to developing and documenting our product requirements.

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 September 30, 2025
			Payment Software						Biller						Total
Primary Solution Categories
Bill Payments			$	—					$	198,337					$	198,337
Merchant Payments			50,951						—						50,951
Fraud Management			15,077						—						15,077
Real-Time Payments			34,679						—						34,679
Issuing and Acquiring			183,315						—						183,315
Total			$	284,022					$	198,337					$	482,359
			Three Months Ended September 30, 2024
			Payment Software						Biller						Total
Primary Solution Categories
Bill Payments			$	—					$	179,601					$	179,601
Merchant Payments			50,120						—						50,120
Fraud Management			18,451						—						18,451
Real-Time Payments			45,376						—						45,376
Issuing and Acquiring			158,204						—						158,204
Total			$	272,151					$	179,601					$	451,752
			Nine Months Ended September 30, 2025
			Payment Software						Biller						Total
Primary Solution Categories
Bill Payments			$	—					$	614,092					$	614,092
Merchant Payments			128,265						—						128,265
Fraud Management			39,812						—						39,812
Real-Time Payments			99,888						—						99,888
Issuing and Acquiring			396,125						—						396,125
Total			$	664,090					$	614,092					$	1,278,182
			Nine Months Ended September 30, 2024
			Payment Software						Biller						Total
Primary Solution Categories
Bill Payments			$	—					$	546,276					$	546,276
Merchant Payments			123,865						—						123,865
Fraud Management			39,145						—						39,145
Real-Time Payments			96,553						—						96,553
Issuing and Acquiring			335,411						—						335,411
Total			$	594,974					$	546,276					$	1,141,250

			Three Months Ended September 30,												Nine Months Ended September 30,
			2025						2024						2025						2024
Payment Software
Software as a service and platform as a service			$	48,579					$	43,766					$	141,165					$	128,222
License			161,957						157,429						303,161						252,984
Maintenance			51,420						47,559						150,483						144,046
Services			22,066						23,397						69,281						69,722
Total			$	284,022					$	272,151					$	664,090					$	594,974
Biller
Software as a service and platform as a service			$	198,337					$	179,601					$	614,092					$	546,276
Total			$	198,337					$	179,601					$	614,092					$	546,276

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 September 30,												Nine Months Ended September 30,
			2025						2024						2025						2024
Revenue
United States			$	253,443					$	241,054					$	766,052					$	698,704
Other			228,916						210,698						512,130						442,546
Total			$	482,359					$	451,752					$	1,278,182					$	1,141,250

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):

			September 30, 2025						December 31, 2024
Long-lived Assets
United States			$	1,121,170					$	1,169,965
Other			791,878						791,793
Total			$	1,913,048					$	1,961,758

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
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (b)
-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
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-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 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: 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 3: 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