FI Company Report

Fiserv CEO Mike Lyons recapped a comprehensive strategic review begun in Q3 2025 that led to four key guidance adjustments: Argentina impacts, underperformance in core businesses, investments in client experience, and rebalancing short- vs. long-term initiatives.
CFO Paul Todd said CapEx will step up to ~$1.8 billion (high-single-digit percentage of revenue) in 2025 for One Fiserv resiliency projects and is expected to remain at that level in 2026 with no further ramp.
Fiserv will consolidate its core banking platforms from 16 to five modern cores, with no forced conversion timelines and continued support for legacy systems until clients choose to migrate.
Merchant Solutions saw non-Clover SMB revenues decline in H1 2025, driven by Argentina; excluding Argentina, non-Clover SMB was flat to slightly positive, while future growth will focus on Clover for long-term value.
Fiserv expects full-year 2025 margins to be down ~200 bps and forecasts 33–35% structural margins for 2026; free cash flow conversion remains stable and excess cash will support share buybacks after maintaining 2.5–3× leverage.

3 days ago

Transcript

Fiserv outlines strategic review outcomes and growth priorities at UBS 2025 Conference

Guidance Update

New Projects/Investments

Completed an in-depth strategic review identifying a culture of short-termism and underinvestment, leading to revised long-term structural growth in the mid-single digits and margin targets, with incremental investments realigned accordingly.
Reversed prior short-term revenue actions by restoring market pricing on STAR/Accel debit networks, shifting from perpetual license sales to recurring revenue, and removing select Clover end-of-life fees to strengthen ISO partnerships.
Ramping CapEx to approximately $1.8 B in 2025 under the One Fiserv initiative for resiliency and technology enhancements, then sustaining high-single-digit % of revenue in 2026 with no further step-up planned.
Simplifying core banking offerings by consolidating 11 legacy cores into five modern platforms (two for credit unions, three for banks), supporting all legacy cores with no forced migrations, and focusing on execution and customer experience.
Merchant Solutions will see non-Clover SMB ex-Argentina flat to slightly positive, with Clover targeting 10–15% volume growth and 15–20% revenue growth via hardware, value-added services, and vertical expertise—backed by ~600 quota-carrying sales hires to bolster distribution.

3 days ago

Transcript

Fiserv unveils strategic resets and investment plans at UBS conference

Guidance Update

New Projects/Investments

Fiserv’s management announced the outcome of a comprehensive internal and external review leading to a recalibration of its long-term structural growth rates and margins and a renewed focus on balancing short- and long-term initiatives.
The company reversed certain short-term revenue boosts by reducing Star and Excel debit network pricing and rolling back select Clover end-of-life fees to enhance long-term client acquisition and optimize recurring revenue.
CFO guidance indicated CapEx will increase to ~$1.8 billion (~7–9% of revenue) in 2025 for resiliency and technology enhancements, and remain at a high single-digit percentage of revenue in 2026.
Fiserv plans to consolidate its 11 credit union and bank cores into five modern platforms by early 2026, with no forced conversions, offering incentives for on-time migrations.
In Merchant Solutions, non-Clover SMB revenues are expected to be flat to slightly positive ex-Argentina, while Clover is targeting 10–15% volume growth and 15–20% revenue growth through hardware, value-added services, vertical expertise, and Clover Capital.

3 days ago

Transcript

Fiserv faces lawmakers’ scrutiny after ‘abysmal’ Q3 2025 results

Legal Proceedings

Profit Warning

Guidance Update

Senate Democrats have demanded information on ex-CEO Frank Bisignano’s role in forecasting after Fiserv admitted it would not meet its prior guidance.
This probe follows a securities fraud class action filed after shares cratered 47% on Oct. 29, 2025 amid Q3 2025 results deemed “abysmal” and based on “objectively difficult to achieve” assumptions.
On July 23, 2025, Fiserv revised its 2025 organic revenue guidance to 10% and raised the low end of its EPS forecast to $10.15, citing an anticipated growth ramp in H2.
The class period runs July 23 – Oct. 29, 2025, with a lead plaintiff deadline of Jan. 5, 2026.

Nov 17, 2025, 7:05 PM

Press Release

Fiserv reports ‘abysmal’ Q3 2025 results amid legal scrutiny

Legal Proceedings

Guidance Update

Board Change

Senate Democrats demand information on former CEO Frank Bisignano’s role in crafting forecasts after Fiserv admitted assumptions were “objectively difficult to achieve”.
Q3 2025 results triggered a 47% share price plunge on October 29 following a sequential decline in adjusted revenue and sharply reduced guidance (organic growth cut to 3.5–4%, EPS to $8.50–$8.60).
A securities fraud class action (Cypanga Sicav SIF v. Fiserv) was filed, covering investor losses between July 23 and October 29, 2025.
Fiserv announced its CFO’s departure and a board reshuffle effective January 1, 2026, as new CEO Michael Lyons acknowledged the prior guidance was overly optimistic.

Nov 12, 2025, 10:45 PM

Press Release

Fiserv outlines growth reset and strategic priorities at KBW Fintech Payments Conference

Guidance Update

New Projects/Investments

Product Launch

Fiserv conducted a thorough strategic review, reducing 2025 organic growth guidance to 3.5–4% from 10–12%, driven by lower Argentina contributions, business performance, and reinvesting in high-ROI initiatives.
Argentina’s anticipation revenue, which added 10 ppt to growth last year, will contribute only 2 ppt in 2025 due to structural rate changes; the business remains healthy and core to Fiserv’s merchant offerings.
Removing cyclical factors, Fiserv expects mid-single digit growth and mid-30% margins, aligning current performance with longer-term structural targets.
Strategic investments focus on scaling the Clover platform—enhancing vertical expertise (hospitality, healthcare), horizontal SaaS integration, international expansion (Canada, Brazil, Europe, Japan), and backbook migration to Clover.
Fiserv is modernizing bank and merchant infrastructure: consolidating 16 core banking platforms into two credit union cores and Core Advance, and building a unified, global Commerce Hub gateway for omni-channel merchants by early 2027.

Nov 12, 2025, 6:25 PM

Transcript

Fiserv faces securities class action after ‘abysmal’ Q3 2025 results

Legal Proceedings

Guidance Update

CFO Change

Hagens Berman filed a securities fraud class action after Fiserv’s shares plunged 47% on its Q3 2025 results and guidance cut, wiping out $32 billion in market value.
On July 23, 2025, Fiserv revised its 2025 organic revenue growth guidance to 10% and raised the low end of its EPS outlook to $10.15, citing anticipated back-half growth from key initiatives.
The complaint alleges these assumptions were “objectively difficult to achieve” and misleading, given Fiserv’s subsequent October 29 update slashing organic growth to 3.5%–4% and EPS guidance to $8.50–$8.60.
Alongside the guidance cut and sequential revenue decline, Fiserv announced its CFO and audit committee chair will step down effective January 1, 2026.

Nov 7, 2025, 3:37 PM

Press Release

Fiserv faces investor class action lawsuit

Legal Proceedings

Class action lawsuit filed on behalf of investors who purchased Fiserv shares during July 23 – October 29, 2025.
Allegation that Fiserv’s July 2025 financial guidance was based on unrealistic assumptions, prompting an admission of flawed projections on October 29, 2025.
Fiserv’s share price fell 44% (from $126.17 to $70.60) on October 29, 2025 following the guidance admission.
Deadline to seek lead-plaintiff status is January 5, 2026.

Nov 6, 2025, 12:06 AM

Press Release

Fiserv faces fraud investigation by Schall Law Firm

Legal Proceedings

Guidance Update

Profit Warning

The Schall Law Firm is investigating Fiserv for alleged securities law violations on behalf of investors.
The probe follows disappointing Q3 earnings and a reduced financial outlook announced October 29, 2025, with the CEO citing “incremental assumptions” in prior guidance.
Fiserv’s stock plummeted over 43% on the day of the earnings release.
Affected shareholders can join the class action by contacting the firm free of charge.

Nov 5, 2025, 4:00 PM

Press Release

Fiserv faces securities class action after Q3 2025 results

Legal Proceedings

Guidance Update

CFO Change

A securities fraud class action was filed in the E.D. Wis. following a 47% crash in Fiserv shares after its Q3 2025 results and guidance cut, covering investors from July 23 to October 29, 2025.
On July 23, 2025, Fiserv revised its 2025 organic revenue guidance to 10% (the low end of its prior range) and raised EPS guidance to $10.15—assumptions later alleged to be objectively difficult to achieve.
On October 29, 2025, Fiserv reported a sequential decline in Q3 2025 revenue, slashed its organic growth outlook to 3.5%–4%, cut EPS guidance to $8.50–$8.60, and announced its CFO’s departure along with a board reshuffle effective January 1, 2026.
The announcement sent the stock down over $59 intraday, wiping out $32 billion in market value and triggering the lawsuit over alleged misleading statements on growth prospects.

Nov 5, 2025, 1:40 PM

Press Release

Earnings Transcripts

Quarterly earnings call transcripts for FI.

Ask Fintool AI Agent

Get instant answers from SEC filings, earnings calls & more

What did Mike Lyons say about margins?What are FI's strategic priorities?How is FI positioned vs competitors?How did FI do last quarter?

Let Fintool AI Agent track FI's earnings for you

Get instant analysis when filings drop

Company not found (FI)

Analyst Earnings Quarterly Reports

Executives

Mike Lyons

Adam Rosman

Andrew Gelb

Dhivya Suryadevara

Guy Chiarello

Jennifer LaClair

Paul Todd

Takis Georgakopoulos

Board Members

Ajei Gopal

Céline Dufétel

Charlotte Yarkoni

Doyle R. Simons

Gary Shedlin

Gordon Nixon

Harry DiSimone

Henrique de Castro

Kevin Warren

Lance Fritz

Stephanie Cohen

Wafaa Mamilli

Analyst Coverage

Darrin Peller

Tien-tsin Huang

David Koning

Harshita Rawat

Jason Kupferberg

Timothy Chiodo

Andrew Jeffrey

Dan Dolev

James Faucette

Ramsey El-Assal

Will Nance

Bryan Keane

James Friedman

William Nance

Latest news

Earnings Transcripts

Ask Fintool AI Agent

Let Fintool AI Agent track FI's earnings for you