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Business segment information (Tables)

9 Months Ended

Sep. 30, 2025

Segment Reporting [Abstract]

Business segment information

The following is our segment information for the quarters and nine months ended September 30, 2025 and September 30, 2024:

						Quarter Ended September 30,												Nine Months Ended September 30,
(in thousands)						2025						2024						2025						2024
Merchant Services:
Revenue						$	98,000					$	93,531					$	297,173					$	288,536
Other segment items						(77,610)						(75,779)						(233,668)						(230,159)
Adjusted EBITDA						20,390						17,752						63,505						58,377
B2B Payments:
Revenue						$	73,078					75,140						$	214,215					214,788
Other segment items						(56,257)						(59,876)						(168,457)						(172,251)
Adjusted EBITDA						16,821						15,264						45,758						42,537
Data Solutions:
Revenue						$	89,224					61,065						$	234,280					178,169
Other segment items						(60,151)						(43,580)						(165,146)						(130,019)
Adjusted EBITDA						29,073						17,485						69,134						48,150
Print:
Revenue						$	279,945					297,313						$	852,296					909,393
Other segment items						(186,399)						(199,906)						(577,565)						(627,167)
Adjusted EBITDA						93,546						97,407						274,731						282,226
Total reportable segments:
Revenue						$	540,247					$	527,049					$	1,597,964					$	1,590,886
Other segment items						(380,417)						(379,141)						(1,144,836)						(1,159,596)
Adjusted EBITDA						159,830						147,908						453,128						431,290
All other:(1)
Revenue						$	—					1,395						$	16					10,329
Other segment items						—						(947)						(52)						(4,657)
Adjusted EBITDA						—						448						(36)						5,672
Total:
Revenue						$	540,247					$	528,444					$	1,597,980					$	1,601,215
Other segment items						(380,417)						(380,088)						(1,144,888)						(1,164,253)
Adjusted EBITDA						159,830						148,356						453,092						436,962

(1) Includes the payroll and human resources services business, which we substantially exited during 2024 (Note 6).

Reconciliation of adjusted EBITDA to income before income taxes

The following table presents the reconciliation of total segment adjusted EBITDA to consolidated income before income taxes:

						Quarter Ended September 30,												Nine Months Ended September 30,
(in thousands)						2025						2024						2025						2024
Total segment adjusted EBITDA						$	159,830					$	148,356					$	453,092					$	436,962
Corporate operations						(40,943)						(43,454)						(127,573)						(128,217)
Depreciation and amortization expense						(32,252)						(44,277)						(101,008)						(127,716)
Interest expense						(30,529)						(29,905)						(92,739)						(90,910)
Net income attributable to non-controlling interest						37						38						109						103
Asset impairment charge						—						(6,700)						—						(6,700)
Restructuring and integration expense						(2,934)						(11,265)						(15,590)						(37,031)
Share-based compensation expense						(5,960)						(4,842)						(17,591)						(14,972)
Certain legal and environmental (expense) benefit						(38)						350						(550)						50
Gain on sale of businesses and long-lived assets						—						5,208						—						29,190
Income before income taxes						$	47,211					$	13,509					$	98,150					$	60,759

Revenue disaggregated by product and service offerings

The following tables present revenue disaggregated by our product and service offerings:

						Quarter Ended September 30, 2025
(in thousands)						Merchant Services						B2B Payments						Data Solutions						Print						All Other						Consolidated
Checks						$	—					$	—					$	—					$	173,053					$	—					$	173,053
Merchant services						98,000						—						—						—						—						98,000
Data-driven marketing						—						—						84,656						—						—						84,656
Treasury management solutions						—						56,124						—						—						—						56,124
Forms and other business products						—						—						—						54,586						—						54,586
Promotional solutions						—						—						—						52,306						—						52,306
Other payment solutions						—						16,954						—						—						—						16,954
Other web-based solutions						—						—						4,568						—						—						4,568
Total revenue						$	98,000					$	73,078					$	89,224					$	279,945					$	—					$	540,247

						Quarter Ended September 30, 2024
(in thousands)						Merchant Services						B2B Payments						Data Solutions						Print						All other						Consolidated
Checks						$	—					$	—					$	—					$	176,827					$	—					$	176,827
Merchant services						93,531						—						—						—						—						93,531
Data-driven marketing						—						—						56,520						—						—						56,520
Treasury management solutions						—						58,574						—						—						—						58,574
Forms and other business products						—						—						—						59,222						—						59,222
Promotional solutions						—						—						—						61,264						—						61,264
Other payment solutions												16,566																		—						16,566
Other web-based solutions																		4,545												—						4,545
Other						—						—						—						—						1,395						1,395
Total revenue						$	93,531					$	75,140					$	61,065					$	297,313					$	1,395					$	528,444

						Nine Months Ended September 30, 2025
(in thousands)						Merchant Services						B2B Payments						Data Solutions						Print						All Other						Consolidated
Checks						$	—					$	—					$	—					$	521,936					$	—					$	521,936
Merchant services						297,173						—						—						—						—						297,173
Data-driven marketing						—						—						219,637						—						—						219,637
Forms and other business products						—						—						—						169,294						—						169,294
Treasury management solutions						—						164,921						—						—						—						164,921
Promotional solutions						—						—						—						161,066						—						161,066
Other payment solutions						—						49,294						—						—						—						49,294
Other web-based solutions						—						—						14,643						—						—						14,643
Other						—						—						—						—						16						16
Total revenue						$	297,173					$	214,215					$	234,280					$	852,296					$	16					$	1,597,980

						Nine Months Ended September 30, 2024
(in thousands)						Merchant Services						B2B Payments						Data Solutions						Print						All Other						Consolidated
Checks						$	—					$	—					$	—					$	534,672					$	—					$	534,672
Merchant services						288,536						—						—						—						—						288,536
Data-driven marketing						—						—						163,339						—						—						163,339
Forms and other business products						—						—						—						181,378						—						181,378
Treasury management solutions						—						169,000						—						—						—						169,000
Promotional solutions						—						—						—						193,343						—						193,343
Other payment solutions						—						45,788						—						—						—						45,788
Other web-based solutions						—						—						14,830						—						—						14,830
Other						—						—						—						—						10,329						10,329
Total revenue						$	288,536					$	214,788					$	178,169					$	909,393					$	10,329					$	1,601,215

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- Definition

Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

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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.

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