Total Revenue

+6.8% (from $857.0M to $915.5M)

Increased revenue in Q1 2025 built on the prior period's momentum, driven by higher transaction volumes and improved market penetration, reflecting enhanced digital and cross‐border transaction performance. " "

Operating Income

+17.5% (from $64.0M to $75.2M)

Operating efficiency improved as the business capitalized on increased revenue and adopted tighter cost management, building on operational performance improvements seen in the previous period. " "

Net Income

+46% (from $26.2M to $38.4M)

Net income surged significantly by leveraging a stronger revenue base and improved margins, and benefiting from favorable non-operating income elements compared to Q1 2024, demonstrating an amplified profitability impact relative to previous periods. " "

Basic EPS

+54% (from $0.57 to $0.88)

EPS increased sharply driven by the rise in net income alongside a reduction in the weighted average shares outstanding, echoing earlier performance improvements and enhanced earnings power. " "

Money Transfer Segment Revenue

+8.6% (from $384.6M to $417.7M)

Segment-specific gains were realized from strong growth in cross-border and digital transactions despite some offsets from declining domestic activity, building on the segment's previous period trends of digitization and international expansion. " "

Net Cash Provided by Operating Activities

94% drop (from $30.0M to $1.7M)

Operating cash flow deteriorated primarily due to significant working capital adjustments and reduced deferred tax benefits (linked to deferred tax adjustments for convertible notes), which starkly contrasted with previous period outcomes despite higher net income. " "

Total Assets

Moderate increase (from $5,693.6M to $6,053.5M)

Asset base expanded moderately as increased cash balances, investments in growth, and operational funding drove up total assets, building on the stronger liquidity and balance sheet strength reported in Q1 2024. " "

Adjusted EPS Growth

FY 2025

Expected to be in the range of 12% to 16% " "

Annual adjusted EPS growth is expected in the range of 12% to 16% for FY 2025 " " " " "

no change

Foreign Exchange (FX) Assumptions

FY 2025

no prior guidance

FX rates are assumed to remain flat for FY 2025 "

no prior guidance

Digital Transformation and Digital Payments Growth

Q2–Q4 2024: Consistent emphasis on strong digital payments growth with high percentage increases (e.g., 33% and 31% growth in digital transactions and payout), development of platforms like Dandelion and Ren, and expanding digital channels across segments. " " " " "

Q1 2025: Continued strong focus on digital transformation with 31% growth in direct-to-consumer digital transactions, notable digital payout growth (29% YoY; 55% of Money Transfer volume), and further integration with strategic partners (e.g., Visa Direct). " " " "

Consistent and bullish: Digital initiatives remain a key growth driver with enhanced partner integrations and higher transaction volumes.

Emerging Digital Initiatives and Strategic Partnerships

Q2–Q4 2024: Recurring discussion on launching and expanding digital platforms (Ren, Dandelion, Skylight) and forming multiple strategic partnerships (with fintechs, banks, and technology partners) to enhance cross-border and digital capabilities. " " " " "

Q1 2025: Maintains focus on emerging initiatives with new strategic partnerships (e.g., Money Trans and Skai) and upgrades to digital offerings such as enhanced Dandelion platform performance and expansions into new regions (e.g., New Zealand). " " "

Sustainably positive: The strategy is evolving with new collaborations and deeper digital integrations, fueling growth.

Money Transfer Segment Growth and Competitive Dynamics

Q2–Q4 2024: Highlighted steady double-digit growth in revenue, digital transactions, and strategic partner agreements; competitive advantage emphasized via omni-channel strategies amid a hypercompetitive environment. " " " " " "

Q1 2025: Reports continued double-digit growth across metrics, stronger digital-focused gains (e.g., digital transactions up 31%, digital payout up 29%), and notable integration with Visa Direct strengthening competitive positioning. " "

Robust and expanding: Digital advancements are further cementing market share with faster-than-market growth.

Merchant Services Expansion and Profitability

Q2–Q4 2024: Discussions centered on expanding into new European markets (Spain, Portugal, Italy) and significant profitability improvements via increased POS deployments, robust merchant onboarding, and landmark contracts (e.g., Munich Airport). " " " " "

Q1 2025: Continues geographic expansion in Merchant Services with targeted pushes into Southern European markets and strong recent developments in Greece (new agreements and merchant growth). " "

Steady expansion: Consistent growth with a focus on capturing new geographies while leveraging successful models from existing markets.

Global Expansion and International Market Challenges

Q2–Q4 2024: Emphasis on expanding ATM networks and digital channels across emerging and developed markets; acknowledged challenges from macroeconomic conditions, regulatory pressures, and market-specific nuances; highlighted innovative approaches to sustain cash accessibility. " " " " " "

Q1 2025: Reaffirms global expansion strategy with continued broadening of cross-border payment networks and market penetration (noting 75% of revenue is international) while maintaining resilience against external geopolitical issues. " " "

Resilient and adaptive: Global growth continues with proactive measures to mitigate international challenges.

Regulatory Environment and Compliance Risks

Q2–Q4 2024: Discussions on investing in compliance solutions (Skylight), strategic partnerships for enhanced regulatory capabilities, and mentions of evolving regulatory scrutiny as part of industry disruptions. " "

Q1 2025: Emphasizes a pristine compliance record with a cautious yet confident outlook on regulatory impacts; minimal expected adverse effects from current policies. "

Stable and positive: Consistent confidence in compliance despite ongoing regulatory scrutiny.

FX Volatility Exposure

Q4 2024: Noted a modest FX headwind causing a minor EPS reduction; earlier quarters (Q3/Q2) had little to no discussion on FX impacts. "

Q1 2025: Detailed that FX volatility had minimal benefit in Q1 with significant moves only near the quarter’s end; guidance assumes flat FX rates, with diversified currency exposure providing natural hedges. " "

Neutral with cautious optimism: FX remains a minor factor with conservative assumptions in guidance.

Fee-Driven Revenue Model with ATM Surcharges and Access Fees

Q2–Q4 2024: Extensive discussion on rolling out domestic and international access fees, driven by regulatory changes and market trends, contributing to improved revenue per transaction and margin enhancement, with success noted in several European markets. " " "

Q1 2025: Continues emphasis on a fee-driven model; management cites consumer willingness in Europe to pay surcharges, strengthening merchant network relationships and driving enhanced cross-border revenue opportunities. " "

Upbeat and expanding: Consistent strategy with emerging opportunities in supplementary fee revenue models to boost margins.

Margin Pressures and Increased Marketing Expenses

Q2–Q3 2024: Highlighted increased digital marketing investments (e.g., $3.9 million in Q2 and additional spending in Q3), contributing to short-term margin pressures; noted cost increases preventing pre-COVID margin levels, particularly in lower-margin segments like merchant acquiring. " " "

Q1 2025: There is no specific mention of margin pressures or increased marketing expenses, indicating a possible stabilization or reduced focus on these issues in the current commentary.

Less emphasized: Although previously a concern, the focus in Q1 2025 shifted away from margin pressures and marketing spend details.

Decline in Traditional ATM Transactions

Q3–Q4 2024: Noted gradual decline in traditional ATM activities due to falling cash usage, offset by plateauing conversion from cash to digital and government mandates ensuring cash accessibility; ATM revenue share declining from historical levels. " " " "

Q1 2025: Direct discussion on traditional ATM declines is minimal; focus shifts more towards digital channels and cross-border opportunities with ATM revenue constituting a smaller share of total business. " "

Continued downward focus: Traditional ATM transactions remain in decline while strategic emphasis shifts to digital and fee-driven models.