Total Revenue

Declined 6% (from $1,049.1M to $983.6M)

Total revenue dropped by about 6% YoY driven largely by a decline in key segments (notably Consumer Money Transfer) and adverse regional effects – especially the significant drop in MEASA revenue, which weighed on overall performance. " "

Consumer Money Transfer Revenue

Declined 9% (from $962.0M to $872.9M)

Consumer Money Transfer revenue fell by 9% YoY due to factors like price reductions, lower transaction volumes, and regional challenges—particularly in markets impacted by geopolitical risks and monetary policy changes affecting the Iraq corridor. " "

North America Revenue

Declined 7% (from $393.9M to $366.2M)

North America’s revenue declined by about 7% YoY as a result of price reductions, weaker cross-border activity, and decreased transactions domestically and into neighboring markets, reflecting ongoing regional market headwinds. " "

MEASA Revenue

Declined 25% (from $192.4M to $144.9M)

The MEASA region saw a dramatic decline of nearly 25% YoY primarily due to a significant reduction in transactions from Iraq driven by changes in monetary policy and other geopolitical and economic risks impacting the region. " "

Europe & CIS Revenue

Increased 5% (from $228.9M to $240.4M)

Europe & CIS revenue grew by approximately 5% YoY owing to improved performance in key markets like the U.K. and Spain, which helped offset competitive pricing pressures and operational challenges. " "

Latin America Revenue

Increased 7% (from $130.6M to $139.9M)

Latin America revenue increased by about 7% YoY as improvements in transaction volumes in specific markets contributed positively, despite general currency and inflation pressures. " "

Operating Income

Declined 7.5% (from $192.1M to $177.4M)

Operating income decreased by around 7.5% YoY due to the combined impact of lower revenues, notably in high-volume segments, and increased operating costs, reflecting pressure on margins despite some cost offset initiatives. " "

Net Income

Declined 13% (from $142.7M to $123.5M)

Net income fell by roughly 13% YoY driven by lower operating income, increased interest expenses, and less favorable operational performance per share, despite modest tax adjustments. " "

Earnings Per Share (EPS)

Declined 10% (from $0.41 to $0.37)

EPS dropped nearly 10% YoY because the reduced net income, when combined with the share count dynamics, resulted in lower earnings per share, reflecting overall operational headwinds. " "

Stockholders’ Equity

Increased significantly (from $397.9M to $939.4M)

Stockholders’ equity surged by more than double primarily due to a dramatic reduction in the accumulated deficit (retained earnings improved from –$485.0M to –$3.4M), driven by improved profitability and shareholder activity like share repurchases. " "

Operating Cash Flow

Increased >57% (from $94.0M to $148.2M)

Operating cash flow improved by over 57% YoY as a result of enhanced net working capital management and higher cash generation from operations, which offset the softer revenue performance. " "

Adjusted Revenue

FY 2025

$4.115 billion to $4.215 billion "

$4.115 billion to $4.215 billion " " "

no change

Adjusted Operating Margins

FY 2025

19% to 21% "

19% to 21% " " "

no change

Adjusted EPS

FY 2025

$1.75 to $1.85 "

$1.75 to $1.85 " " "

no change

Macroeconomic Assumptions

FY 2025

No material changes in macroeconomic conditions relative to 2024 "

No material changes in macroeconomic conditions " " "

no change

Quarterly Phasing Considerations

FY 2025

Iraq contributed $65 million in Q1 2024 and $34 million in Q2 2024—with the Q1 benefit from a leap year that won’t recur "

Iraq contributed $34 million in Q2 2024 " " "

raised

Digital Transformation and Robust Digital Growth

Q4 2024: Branded digital business grew with 13% transaction growth and 8% revenue growth, with strong APN momentum. " " Q3 2024: Consistent double‐digit transaction growth (15%) and strategic digital investments (LTV/CAC focus). " " " Q2 2024: Reported over 12% branded digital transaction growth, thanks to technological and marketing enhancements. " "

Q1 2025: Achieved steady digital momentum with 8% revenue and 14% transaction growth, highlighting improved digital customer retention and optimized unit economics despite tougher comparisons. " " "

Consistent focus on digital transformation with continued innovation; revenue growth appears slightly moderated by external factors, yet overall digital momentum remains strong and stable. " " "

Retail Channel Performance and Turnaround Strategy

Q4 2024: Marked turnaround with improved retail transactions and robust point‐of‐sale system deployments in key markets like Spain and the UK. " " Q3 2024: Mixed retail results – progress in controlled distribution in Europe but challenges in Americas due to geopolitical headwinds. " " Q2 2024: Nearly flat or modest growth driven by new POS technologies and pricing initiatives. " "

Q1 2025: Showed mixed performance – significant headwinds in North America (especially the U.S.-Mexico corridor) but notable success in European retail, reflecting ongoing transformation efforts. " " "

Mixed sentiment: While Europe continues to display turnaround success, traditional markets in North America face slowing growth; ongoing initiatives remain critical to long‐term recovery. " "

Strategic Acquisitions and Geographic Expansion

Q4 2024: Discussed smaller acquisition (DASH) aimed at enhancing digital wallet capabilities; digital wallet initiatives in Singapore/Mexico, but no mention of UK Travel Money. " Q3 2024: Focused on acquiring digital wallet businesses in Singapore and Mexico to bolster digital offerings. " " Q2 2024: Emphasized disciplined M&A and Forex expansion through acquisitions and geographic rollouts. " " "

Q1 2025: Focus shifted to the Euro Change acquisition that is set to add approximately 1 percentage point of revenue growth, along with a broader geographic expansion in Europe and the Middle East to drive travel money and digital services. " "

Heightened focus on strategic acquisitions with clearer integration into growth strategies; geographic expansion is accelerating compared to earlier periods. " " "

FX Volatility and Macroeconomic Uncertainty

Q2 2024: Detailed discussion on FX hedging impacts, with the appreciation of the Mexican peso and its adverse effects on margins, coupled with Argentina’s inflation and political disruptions. " " " Q3 2024: Mentioned FX-neutral performance and challenges from migration-related geopolitical shifts. " Q4 2024: Focused primarily on macro assumptions, assuming stable conditions year‑over‑year. " "

Q1 2025: Elaborated on FX impacts such as hedging over multi‑year horizons and customer behavior influenced by currency swings; reiterated macroeconomic uncertainty especially affecting North American outbound flows, despite some seasonal improvements. " " "

Persistent challenges: FX volatility and macro uncertainty continue to impact operations; detailed hedging strategies and regional discrepancies are now more explicitly addressed in Q1 2025 compared to earlier periods. " "

Operating Margins and Profitability Pressures

Q4 2024: Adjusted operating margins improved to 17% in the quarter with full‑year averages around 19%, driven by cost redeployment and technology efficiencies despite lower Iraq revenue. " " Q3 2024: Margins around 19% with pressures from strategic investments in product expansions. " " Q2 2024: Margins declined to 19% from 21.8% due to FX volatility and lower Iraq revenues. " "

Q1 2025: Operating margins held at 19% with noted profitability pressures from reduced revenue from Iraq; cost containment and redeployment initiatives are offsetting these headwinds, though adjusted EPS fell compared to the prior year. " " "

Steady pressure: Margin performance remains challenged by lower non‑recurring revenues (notably from Iraq) and ongoing investments; active cost management is maintaining consistency, with sentiment remaining cautious but proactive. " " "

Market Share Gains and Competitive Positioning

Q2 2024: CEO emphasized gaining share from banks and undercapitalized competitors, supported by an evolving strategy. " " Q3 2024: Noted strengths from debit transactions and digital investments, benefiting from competitor challenges and outage events. " " Q4 2024: Focused on digital business strength and retail transformation, with increased market share in competitive corridors. " "

Q1 2025: Reinforced the EVOLVE 2025 strategy which is driving market share gains particularly in Europe and via digital channels, emphasizing a globally diversified business model that mitigates regional headwinds. " "

Positive momentum: Consolidation trends and strategic investments are boosting market share; competitive positioning remains favorable with ongoing digital and retail efforts supporting growth in key markets. " "

Regional and Geopolitical Challenges

Q2 2024: Detailed challenges in Iraq with volatile revenues, compounded by Argentina’s economic pressures, while North America and other regions showed mixed performance. " " " Q3 2024: Highlighted political disruptions in Latin America and temperamental performance in North America and Iraq. " " " Q4 2024: Noted continued headwinds from Iraq and sluggish North American retail, while Europe improved. " "

Q1 2025: Continues to face headwinds in North America and Latin America (with, for example, reduced migration in the U.S.-Mexico corridor and lower Iraq revenues) along with weaker performance in Argentina; nonetheless, strong performances in Europe, Middle East, and APAC help balance the overall picture. " " "

Consistent challenges: Regional volatility—especially in Iraq, North America, and Argentina—remains a persistent headwind, although diversification into Europe and the Middle East provides some resilience; sentiment stays cautious. " "

New Consumer Services Growth Initiatives

Q2 2024: Introduced initiatives across Forex expansion (via retail FX growth), media network, and launch of prepaid cards to diversify revenue. " " " Q3 2024: Continued momentum with strong contributions from media network and investments in product innovations, including prepaid cards. " " " Q4 2024: Detailed expansion of Forex offerings, robust media network performance, and scaling of prepaid cards as key catalysts. " " "

Q1 2025: Emphasized Forex expansion via the Euro Change acquisition, noted a temporary delay in media network contract execution, and did not discuss prepaid cards explicitly; overall, Consumer Services growth remains a priority with strategic product diversification. " " "

Ongoing expansion: Growth initiatives remain central to Consumer Services with consistent focus on Forex and digital products; minor delays in media network execution are noted but overall diversification efforts continue to drive incremental growth. " "