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v3.26.1

Segment Reporting (Tables) | 6 Months Ended
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Jun. 30, 2026
Segment Reporting [Abstract] |
Schedule of Revenue and EBIDTA | Revenue and EBITDA of the Company’s reportable segments, as well as a reconciliation of total segment EBITDA to income from operations and net income for the three and six months ended June 30, 2026 and 2025, were as follows:
| Three Months Ended June 30, 2026
| Secure Card Solutions |  | Prepaid Solutions |  | Integrated Paytech |  | Total Reportable Segments |  | Intersegment Eliminations |  | Corporate |  | Consolidated
Revenue | $ | 110,867 |  | $ | 22,645 |  | $ | 20,141 |  | $ | 153,653 |  | $ | (4,472) |  | $ | — |  | $ | 149,181
Cost of goods sold | 79,998 |  | 16,226 |  | 8,943 |  | 105,167 |  | (4,472) |  | — |  | 100,695
Gross profit | 30,869 |  | 6,419 |  | 11,198 |  | 48,486 |  | — |  | — |  | 48,486
Selling, general and administrative expenses | 9,849 |  | 1,437 |  | 4,622 |  | 15,908 |  | — |  | 20,714 |  | 36,622
Income (loss) from operations | $ | 21,020 |  | $ | 4,982 |  | $ | 6,576 |  | $ | 32,578 |  | $ | — |  | $ | (20,714) |  | $ | 11,864
EBITDA by segment: |  |  |  |  |  |  |  |  |  |  |  |  |
Income (loss) from operations | $ | 21,020 |  | $ | 4,982 |  | $ | 6,576 |  | $ | 32,578 |  | $ | — |  | $ | (20,714) |  | $ | 11,864
Depreciation and amortization | 4,258 |  | 1,241 |  | 178 |  | 5,677 |  | — |  | 666 |  | 6,343
Other expense, net | (31) |  | (248) |  | — |  | (279) |  | — |  | (3) |  | (282)
EBITDA | $ | 25,247 |  | $ | 5,975 |  | $ | 6,754 |  | $ | 37,976 |  | $ | — |  | $ | (20,051) |  | $ | 17,925
Gross profit margin | 27.8 | % |  | 28.3 | % |  | 55.6 | % |  | 31.6 | % |  | * |  | * |  | 32.5 | %
EBITDA margin | 22.8 | % |  | 26.4 | % |  | 33.5 | % |  | 24.7 | % |  | * |  | * |  | 12.0 | %
| Six Months Ended June 30, 2026
| Secure Card Solutions |  | Prepaid Solutions |  | Integrated Paytech |  | Total Reportable Segments |  | Intersegment Eliminations |  | Corporate |  | Consolidated
Revenue | $ | 220,718 |  | $ | 44,694 |  | $ | 39,523 |  | $ | 304,935 |  | $ | (8,646) |  | $ | — |  | $ | 296,289
Cost of goods sold | 162,147 |  | 32,609 |  | 17,569 |  | 212,325 |  | (8,646) |  | — |  | 203,679
Gross profit | 58,571 |  | 12,085 |  | 21,954 |  | 92,610 |  | — |  | — |  | 92,610
Selling, general and administrative expenses | 20,283 |  | 3,010 |  | 8,513 |  | 31,806 |  | — |  | 37,946 |  | 69,752
Income (loss) from operations | $ | 38,288 |  | $ | 9,075 |  | $ | 13,441 |  | $ | 60,804 |  | $ | — |  | $ | (37,946) |  | $ | 22,858
EBITDA by segment: |  |  |  |  |  |  |  |  |  |  |  |  |
Income (loss) from operations | $ | 38,288 |  | $ | 9,075 |  | $ | 13,441 |  | $ | 60,804 |  | $ | — |  | $ | (37,946) |  | $ | 22,858
Depreciation and amortization | 8,604 |  | 2,515 |  | 268 |  | 11,387 |  | — |  | 1,359 |  | 12,746
Other income (expense), net | 3 |  | (404) |  | — |  | (401) |  | — |  | (5) |  | (406)
EBITDA | $ | 46,895 |  | $ | 11,186 |  | $ | 13,709 |  | $ | 71,790 |  | $ | — |  | $ | (36,592) |  | $ | 35,198
Gross profit margin | 26.5 | % |  | 27.0 | % |  | 55.5 | % |  | 30.4 | % |  | * |  | * |  | 31.3 | %
EBITDA margin | 21.2 | % |  | 25.0 | % |  | 34.7 | % |  | 23.5 | % |  | * |  | * |  | 11.9 | %
| Three Months Ended June 30, 2025
| Secure Card Solutions |  | Prepaid Solutions |  | Integrated Paytech |  | Total Reportable Segments |  | Intersegment Eliminations |  | Corporate |  | Consolidated
Revenue | $ | 94,673 |  | $ | 19,222 |  | $ | 19,326 |  | $ | 133,221 |  | $ | (3,468) |  |  | $ | — |  |  | $ | 129,753
Cost of goods sold | 70,755 |  | 13,751 |  | 8,595 |  | 93,101 |  | (3,468) |  |  | — |  |  | 89,633
Gross profit | 23,918 |  | 5,471 |  | 10,731 |  | 40,120 |  | — |  |  | — |  |  | 40,120
Selling, general and administrative expenses | 8,282 |  | 1,300 |  | 3,314 |  | 12,896 |  | — |  |  | 17,801 |  | 30,697
Income (loss) from operations | $ | 15,636 |  | $ | 4,171 |  | $ | 7,417 |  | $ | 27,224 |  | $ | — |  |  | $ | (17,801) |  | $ | 9,423
EBITDA by segment: |  |  |  |  |  |  |  |  |  |  |  |  |
Income (loss) from operations | $ | 15,636 |  | $ | 4,171 |  | $ | 7,417 |  | $ | 27,224 |  | $ | — |  |  | $ | (17,801) |  | $ | 9,423
Depreciation and amortization | 3,497 |  | 1,126 |  | 31 |  | 4,654 |  | — |  |  | 861 |  | 5,515
Other (expense) income, net | (33) |  | — |  | — |  | (33) |  | — |  |  | 20 |  | (13)
EBITDA | $ | 19,100 |  | $ | 5,297 |  | $ | 7,448 |  | $ | 31,845 |  | $ | — |  |  | $ | (16,920) |  | $ | 14,925
Gross profit margin | 25.3 | % |  | 28.5 | % |  | 55.5 | % |  | 30.1 | % |  | * |  | * |  | 30.9 | %
EBITDA margin | 20.2 | % |  | 27.6 | % |  | 38.5 | % |  | 23.9 | % |  | * |  | * |  | 11.5 | %
| Six Months Ended June 30, 2025
| Secure Card Solutions |  | Prepaid Solutions |  | Integrated Paytech |  | Total Reportable Segments |  | Intersegment Eliminations |  | Corporate |  | Consolidated
Revenue | $ | 176,315 |  | $ | 45,935 |  | $ | 38,579 |  | $ | 260,829 |  | $ | (8,315) |  | $ | — |  | $ | 252,514
Cost of goods sold | 131,578 |  | 31,022 |  | 17,413 |  | 180,013 |  | (8,315) |  | — |  | 171,698
Gross profit | 44,737 |  | 14,913 |  | 21,166 |  | 80,816 |  | — |  | — |  | 80,816
Selling, general and administrative expenses | 14,791 |  | 2,743 |  | 6,356 |  | 23,890 |  | — |  | 33,399 |  | 57,289
Income (loss) from operations | $ | 29,946 |  | $ | 12,170 |  | $ | 14,810 |  | $ | 56,926 |  | $ | — |  | $ | (33,399) |  | $ | 23,527
EBITDA by segment: |  |  |  |  |  |  |  |  |  |  |  |  |
Income (loss) from operations | $ | 29,946 |  | $ | 12,170 |  | $ | 14,810 |  | $ | 56,926 |  | $ | — |  | $ | (33,399) |  | $ | 23,527
Depreciation and amortization | 5,737 |  | 2,242 |  | 62 |  | 8,041 |  | — |  | 1,721 |  | 9,762
Other (expense) income, net | (40) |  | 6 |  | — |  | (34) |  | — |  | 39 |  | 5
EBITDA | $ | 35,643 |  | $ | 14,418 |  | $ | 14,872 |  | $ | 64,933 |  | $ | — |  | $ | (31,639) |  | $ | 33,294
Gross profit margin | 25.4 | % |  | 32.5 | % |  | 54.9 | % |  | 31.0 | % |  | * |  | * |  | 32.0 | %
EBITDA margin | 20.2 | % |  | 31.4 | % |  | 38.5 | % |  | 24.9 | % |  | * |  | * |  | 13.2 | %
______________________________________________________ *Calculation not meaningful.
Schedule of Reconciliation of Total Segment EBITDA to Income Before Taxes | Reconciliation of Net Income to EBITDA
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2026 |  | 2025 |  | 2026 |  | 2025
Net income | $ | 2,040 |  |  | $ | 518 |  |  | $ | 4,096 |  |  | $ | 5,292 |
Interest, net | 7,405 |  |  | 8,069 |  |  | 15,061 |  |  | 15,754 |
Income tax expense | 2,137 |  |  | 823 |  |  | 3,295 |  |  | 2,486 |
Depreciation and amortization | 6,343 |  |  | 5,515 |  |  | 12,746 |  |  | 9,762 |
EBITDA | $ | 17,925 |  |  | $ | 14,925 |  |  | $ | 35,198 |  |  | $ | 33,294 |
Schedule of Goodwill by Reportable Segment | As a result, total goodwill of the Company’s reportable segments as of June 30, 2026, and December 31, 2025, were as follows under the revised segment structure:
| June 30, 2026 |  | December 31, 2025
Secure Card Solutions | $ | 33,636 |  |  | $ | 33,636 |
Integrated Paytech | 19,104 |  |  | 15,128 |
Total goodwill | $ | 52,740 |  |  | $ | 48,764 |

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