Total Revenue

+9% (from $957.7M to $1,047.3M)

Total Revenue grew by 9%, reflecting the company’s ongoing expansion and strong transaction growth across segments—a trend built from prior period initiatives focused on market and product expansion, similar to the drivers seen in earlier quarters. " "

Operating Income

+26% (from $97.4M to $122.7M)

Operating Income climbed 26%, driven by enhanced segment performance and improved cost management that built on previous operational improvements, yielding stronger margins despite rising costs. " "

Net Income

-35% (from $69.5M to $45.2M)

Net Income fell sharply by 35% despite higher revenues, as increased non-operating expenses—especially a substantial rise in interest expense—eroded profitability, contrasting with the prior period’s stronger operating performance. " "

Basic EPS

-35% (from $1.50 to $0.98)

Basic EPS dropped by 35%, mirroring the decline in net income; the compression is attributed to higher financing costs and increased expenses, which outweighed the gains from revenue and operating income improvements observed in previous periods. " "

COGS

+7.4% (from $596.4M to $640.8M)

COGS increased by 7.4%, as rising transaction volumes and higher input costs pushed up direct operating expenses—a trend consistent with earlier periods where increased business activity led to higher variable costs, though efficiency gains limited the percentage rise relative to revenue. " "

SG&A

+15% (from $72.4M to $83.4M)

SG&A expenses grew by 15%, primarily due to heightened spending on marketing, professional fees, and performance-based compensation; this reflects both the cost of supporting expanded operations and investments initiated in earlier periods to drive growth. " "

Interest Expense

+29% (from $16.5M to $21.3M)

Interest Expense jumped by 29% as higher interest rates and increased outstanding debt on credit facilities impacted financing costs—a trend that continued from prior period increases and further pressured the bottom line in Q4 2024. " "

Earnings/Adjusted EPS Growth

FY 2025

Double-digit earnings growth in the range of 10% to 15% " "

Adjusted EPS Growth expected in the range of 12% to 16% " "

raised

Operating Income Growth

FY 2025

no prior guidance

Operating income grew 16% YoY in 2024 with similar continuity expected in 2025 "

no prior guidance

Segment Growth

FY 2025

no prior guidance

Expressed confidence in continued momentum across all business segments, with emphasis on digital services and merchant services "

no prior guidance

Digital Payment Growth & Transformation

Q1 saw growth in digital payments with better margins and technology investments. " " Q2 emphasized 24% growth in digital transactions and strong digital customer acquisition. " " Q3 continued with customer uptake and new digital partners boosting growth. "

Q4 described digital channels “growing like a friggin weed” with 30+% growth, further expanding digital payments, underscoring aggressive digital transformation. " "

Consistently positive with accelerating momentum and increasingly aggressive digital transformation strategies. " " " " " " "

Merchant Services Expansion & Profitability

Q1 highlighted strong EBITDA growth and aggressive expansion via ATMs and POS solutions. " " Q2 focused on market expansion beyond Greece into Spain, Portugal, and Italy. " Q3 discussed tripling EBITDA and early-stage expansion in new regions. "

Q4 reported significant additions – over 8,000 traditional POS terminals and 2,000 digital POS merchants, along with supportive regulatory changes driving profitability. "

Steady and expanding, with consistent profitability improvements and aggressive geographic expansion fueling future growth. " " " " "

Money Transfer Business Dynamics amid Digital Competition & Policy Impacts

Q1 emphasized higher margins from digital transactions and a shift towards digital channels with better cost structures. " " " Q2 noted a hypercompetitive but rapidly growing digital money transfer space. " " Q3 focused on strategic partnerships (like PLS Financial Services) and regulatory initiatives that favor digital channels. " "

Q4 continued the momentum with 33% growth in digital transactions, a reinforced global strategy via the Dandelion network, and expanded geographic coverage. " "

Consistently robust, with digital initiatives helping to offset competitive pressures and policy challenges, enabling both margin and volume improvements. " " " " " " "

EFT Segment Performance, ATM Optimization & Access Fee Rollouts

Q1 saw strong EFT growth supported by technology platforms and network optimization. " " Q2 reported double-digit growth and emphasized market expansion, cost management, and fee introduction flexibility. " " " Q3 maintained double-digit growth with continued network expansion and initial fee rollouts in select markets. " "

Q4 delivered double-digit revenue and operating income growth, with ongoing ATM optimization and broader rollout of domestic and international access fees further enhancing margins. " " " " "

Steady and reinforcing, as the segment consistently delivers robust growth and is set to further benefit from regulatory-driven fee rollouts and network efficiencies. " " " " "

International Expansion & Regulatory Hurdles

Q1 underscored expansion into new countries (e.g., the Philippines, Vietnam, Japan) and overcoming regulatory challenges via compliance platforms. " " " Q2 discussed entering new remittance and ATM markets and piloting fee structures amid regulatory complexity. " " " Q3 continued with expansion across regions like North Africa and Southeast Asia along with regulatory focus (e.g., G20 roadmap). " " "

Q4 focused on maximizing remittance Total Addressable Market by breaking into markets like Mexico, the Philippines, and Thailand, leveraging global partnerships and compliance expertise. " "

Steady global expansion backed by strong regulatory compliance; the narrative has been consistently positive, with recent calls emphasizing growing market reach and strategic regulatory navigation. " " " " "

Strategic Partnerships & Platform Initiative Developments

Q1 introduced robust Dandelion network partnerships, new correspondent agreements, and initial epay platform developments. " " " Q2 expanded key partnerships in remittance (Banco Activo, Al Fardan, WeChat) and boosted digital capabilities. " Q3 announced new partnerships with players like PLS Financial Services, XTransfer, and Wallex. " "

Q4 announced several new digital outbound service partnerships (e.g., Alkali Bank, Guavapay, Orbit Remit, Panda Remit, Ant Financial International), as well as enhancements to the Ren and Skylight platforms. " " "

Accelerating momentum, with continual addition of strategic partners and platform innovation strengthening competitive positioning. " " " " " " " "

Cost Pressures, Marketing Spend & Customer Retention Challenges

Q2 discussed increased marketing spend (up to $3.9 million) to drive digital customer acquisition and manage cost pressures. " " Q3 mentioned an additional $2 million in marketing spend and noted strong customer stickiness with many clients retained for several years. "

Q4 did not specifically mention these topics, suggesting either resolution or lower emphasis in the latest call [documents].

Earlier concerns have receded, indicating that while cost pressures and marketing spend were key topics in Q2/Q3, they are less front-and-center in Q4, possibly due to stabilization. " " "

Surcharge Interchange Fee Impact Uncertainty

Q1 noted anticipated future fee increases with potential high-margin impacts, though exact contributions were uncertain. " Q2 provided details on fee introductions and pricing flexibility but maintained some uncertainty. " " Q3 emphasized positive regulatory momentum with expectations for increased profitability per transaction. "

Q4 continued to acknowledge uncertainty around the exact impacts of surcharges, with expectations of a positive bump in 2025, but detailed impacts were not dissected. "

Evolving sentiment – initial optimism is tempered by ongoing uncertainty; the market remains cautiously positive with future fee adjustments expected to bolster margins. " " " " "

Competitor Consolidation & Market Dynamics

Q1 highlighted a strategy to consolidate a fragmented independent channel and asserted global leadership. " Q2 discussed a hypercompetitive environment along with some consolidation as larger competitors exited, benefiting volume distribution. " "

Q4 did not mention competitive consolidation explicitly, suggesting that market dynamics may have stabilized or become less of a focus amid other growth initiatives [documents].

Diminishing emphasis – initial concerns about competition and consolidation in Q1/Q2 have subsided in Q4, possibly due to achieved market positioning and a quieter competitive landscape. " " "