Total Revenue

+25% (Q1 2025: $394.57M vs. Q1 2024: $316.0M)

Total revenue increased by $78.5M (25%) driven by strong growth in multiple revenue streams – notably a $54.5M (182%) surge in license revenue and a $21.4M (10%) rise in SaaS & PaaS revenue – partially offset by a $1.4M negative impact from weakening foreign currencies. " "

Net Income

Rebound from a loss of $7.75M to a profit of $58.87M

The dramatic turnaround in net income is attributed to overall operational improvements and a significant recovery in operating performance relative to the prior year’s losses, reflecting the positive impact of the revenue growth and margin expansion. " "

Operating Income

+500%+ (Q1 2025: $58.52M vs. Q1 2024: $9.56M)

Operating income surged as revenues from high-growth segments (especially license and SaaS & PaaS) outpaced the moderate increases in operating expenses, including R&D and selling & marketing, thereby driving a substantial margin expansion. " " "

Geographic Revenue (Other regions)

+80% (Q1 2025: $157.81M vs. Q1 2024: $87.91M)

Revenue in other regions experienced robust growth, likely due to accelerated international market penetration and increased global demand, particularly in segments such as license revenue, which helped propel the overall 80% increase. " "

Geographic Revenue (U.S.)

+4% (Q1 2025: $236.75M vs. Q1 2024 values)

U.S. revenue saw a modest increase of about 4%, reflecting the maturity of the domestic market where incremental revenue growth is achieved through steady performance in key service lines despite competitive pressures. " "

Cash and Cash Equivalents

+63% (Q1 2025: $366.77M vs. Q1 2024: $224.12M)

The 63% increase in cash and cash equivalents indicates enhanced liquidity, driven by improved operating cash flows from significantly higher revenues and operating income, which generated additional surplus cash in the current period relative to the previous year. " "

Revenue

FY 2025

"$1.685 billion to $1.715 billion; 7% to 9% growth " "

no guidance

no current guidance

Adjusted EBITDA

FY 2025

"$480 million to $495 million " "

no guidance

no current guidance

Revenue Phasing

FY 2025

"First half expected to account for 45% (vs 43% in 2024) " "

no guidance

no current guidance

Revenue

Q1 2025

"$360 million to $370 million; 17% to 21% growth " "

no guidance

no current guidance

Adjusted EBITDA

Q1 2025

"$70 million to $80 million; 43% to 63% growth " "

no guidance

no current guidance

Recurring Revenue Growth and Accelerated Revenue Recognition

In Q2–Q4 2024, recurring revenue was emphasized across segments with modest to strong growth—Payment Software (bank/merchant and merchant segments) saw growth supported by early/accelerated contract signings in Q3 and Q4. " " " " " " " " " "

In Q1 2025, Payment Software reported an 8% recurring revenue growth along with 42% revenue growth due to deals signed earlier than expected; the Biller segment grew by 11% and benefited from IRS vendor consolidation. " " " " "

Sustained and strengthening growth with more effective acceleration of revenue recognition strategies (improved deal timing and contract signings).

Next-Generation Payment Hub Development

In Q2 2024, development was described as on track with strong customer conversations and interest in cloud-native functionality. " " In Q3 2024, pilots were expected by Q2 2025 with a noticeable shift from uncertainty to positive sentiment. " " " " " In Q4 2024, the hub (branded as Kinetic) was highlighted as a strategic, cloud-native solution with a 2025 launch focus. " " " " "

In Q1 2025, the next-generation hub (now named Connetic) is further along with a robust working demo completed, a deployable version released in April 2025, and very positive customer sentiment, exemplified by strong expressions of interest. " " "

A clear evolution from early developmental uncertainty to a confident, positive launch trajectory with solid milestones and enthusiastic customer uptake.

Organizational Restructuring and Integration of Bank and Merchant Segments

Q4 2024 discussions detailed the planned integration of bank and merchant segments into a single Payment Software unit, emphasizing synergies, streamlined operations, and a new GM model. " " " Q3 and Q2 2024 had no related mentions.

Q1 2025 confirmed the restructuring’s execution with enhanced internal efficiency, improved customer engagement, and incremental pipeline generation under the new Payment Software segment structure. " " "

From announcement and planning in Q4 2024 to successful implementation and operational benefits in Q1 2025.

New Customer Acquisition and Geographic Expansion

In Q2 2024, a growing pipeline and strong interest from the Asia-Pacific region were noted. " " " In Q3 2024, significant wins such as a central infrastructure win in Mexico and strong AP conversations were highlighted. " " " In Q4 2024, the largest new logo and competitive takeaway in the Asia-Pacific region were announced. " "

Q1 2025 saw the signing of two new bank logos—including the largest new logo and competitive takeaway in Asia-Pacific—and a significant new customer win in Latin America, driven by modern solutions like Connetic. " " "

The trend is persistently upward with increasingly significant wins, especially in Asia-Pacific, indicating greater market penetration and robust geographic expansion.

Biller Segment Sustainability and Margin Volatility Concerns

In Q2 2024, the Biller segment showed strong revenue and EBITDA gains (13% revenue and 20% EBITDA growth) with little focus on margin volatility. " " " " In Q3 2024, sustainability was challenged by seasonality and the loss of nonrecurring high-margin items, though new contracts and favorable IRS developments were expected for improvement. " " " In Q4 2024, despite a 6% revenue growth, margin volatility from nonrecurring benefits was noted, with a 300 basis point expansion at the consolidated level as a mitigating factor. " " "

In Q1 2025, the Biller segment continued its growth with 11% revenue but only a 1% rise in adjusted EBITDA, reflecting persistent concerns about margin volatility even as the sustainability is supported by nondiscretionary payment flows and strategic IRS wins. " " " "

While revenue growth remains robust, margin volatility concerns persist across periods despite a resilient, nondiscretionary revenue base—highlighting an ongoing challenge.

Dependence on New License Deals Impacting Adjusted EBITDA Guidance

In Q2 2024, CFO Scott Behrens mentioned that profitability growth was largely linked to license deal performance, and Q4 2024 provided explicit commentary that reaching higher adjusted EBITDA guidance depends on overachievement in high‐margin license deals. " " " Q3 2024 did not mention this topic.

In Q1 2025, there is no specific discussion on the dependence on new license deals impacting adjusted EBITDA guidance, indicating a shift away from highlighting this dependency in recent commentary.

Previously a key topic influencing EBITDA guidance, this has receded in Q1 2025, suggesting either reduced emphasis or improved predictability in license deal contributions.