Euronet Worldwide — Third Quarter 2026 Earnings Summary

Financial Performance:

• Consolidated revenues were $1,161.1 million, a 1% increase from $1,145.7 million in the prior year period (3% increase on a constant currency basis).
• Operating income was $171.6 million, a 12% decrease from $195.0 million in the prior year period (10% decrease on a constant currency basis).
• Adjusted operating income was $169.9 million, a 13% decrease from $195.0 million in the prior year period (11% decrease on a constant currency basis; 8% decrease after excluding $4.7 million of incremental non-cash purchase price amortization).
• Adjusted EBITDA was $226.1 million, an 8% decrease from $244.6 million in the prior year period (6% decrease on a constant currency basis).
• Net income attributable to Euronet was $113.6 million, or $2.53 diluted earnings per share, compared to $122.0 million, or $2.75 diluted earnings per share in the prior year period.
• Adjusted earnings per share was $3.55, a 2% decrease from $3.62 in the prior year period.
• Total cash, including ATM cash, unrestricted cash, and restricted cash, was $1,887.9 million as of September 30, 2026, down from $2,220.7 million at June 30, 2026.
• Total indebtedness was $2,177.3 million as of September 30, 2026, down from $2,654.0 million at June 30, 2026.
• Availability under the Company's revolving credit facilities was approximately $1.1 billion.

Guidance and Future Outlook:

• The Company revised its 2026 outlook to approximately $4.375 billion of revenue, approximately $725 million of Adjusted EBITDA, and adjusted EPS growth of approximately 10% year-over-year.
• The revised outlook reflects immigration-related pressures within the Cross-Border Payments segment, broader global economic pressures, and FX conversion rate changes.
• The outlook does not include any further changes that may develop in foreign exchange rates, interest rates, or other unforeseen factors.

Business Segments and Product Lines:

• Payments Infrastructure Segment: Revenues were $437.9 million, a 7% increase from $409.4 million (9% increase on a constant currency basis). Operating income was $128.2 million, a less than 1% increase from $128.1 million. Adjusted EBITDA was $157.9 million, a 2% increase from $154.7 million. The segment includes 59,688 installed ATMs (4% increase) and 58,420 active ATMs (4% increase) as of September 30, 2026. Growth was driven by merchant acquiring, Ren sales, and the fourth quarter 2025 acquisition of CoreCard.
• epay Segment: Revenues were $294.7 million, a 3% increase from $286.5 million (5% increase on a constant currency basis). Operating income was $31.8 million, a 3% increase from $31.0 million. Adjusted EBITDA was $33.4 million, a 3% increase from $32.5 million. Transactions increased 4% to 1,191 million. POS terminals reached approximately 736,000 (3% increase), and retailer locations reached approximately 357,000 (3% increase).
• Cross-Border Payments Segment: Revenues were $431.0 million, a 5% decrease from $452.4 million (4% decrease on a constant currency basis). Operating income was $37.3 million, a 37% decrease from $59.3 million. Adjusted EBITDA was $43.6 million, a 34% decrease from $65.9 million. Total transactions were 45.3 million (2% decrease), while digital transactions increased 34% to 8.1 million. Network locations were approximately 654,000 (3% increase).
• Digital accelerators introduced at the Investor Day increased 33% for the nine months ended September 30, 2026, representing 26% of year-to-date revenues.
• The Company signed a letter of intent to collaborate globally with Diebold Nixdorf to transform ATM networks.
• The Company unveiled OLON, a unified commerce ecosystem to accelerate merchant growth.

Market and Competitive Landscape:

• Cross-Border Payments revenue was impacted by continued pressure from U.S. immigration policy and broader global economic uncertainty.
• Payments Infrastructure revenue was impacted by economic pressures on discretionary travel spend affecting international ATM cash withdrawals.
• Sequential quarterly constant currency revenue decline in Cross-Border Payments improved slightly from 5% in the second quarter to 4% in the third quarter, with stabilizing to modestly improving trends in international markets, though pressure persisted in the U.S. market.

Risks and Challenges:

• Persistent pressures from U.S. immigration policy and global economic uncertainty continue to impact the Cross-Border Payments segment.
• Cost inflation impacted Adjusted EBITDA and operating income in the Payments Infrastructure segment.
• The Cross-Border Payments segment incurred approximately $6 million in incremental investment in digital initiatives.
• Corporate expenses increased $2.3 million year-over-year, primarily driven by a $1.9 million increase in long-term share-based compensation.
• Adjusted operating income for the Payments Infrastructure segment included a $1.7 million expense related to a timing difference between a cash rebate payment and U.S. GAAP purchase accounting expense recognition, and a $4.7 million increase in non-cash purchase price amortization related to the CoreCard acquisition.

Management Commentary and Tone:

• Michael J. Brown, Chairman and CEO, stated that third-quarter results reflect the continued impact of U.S. immigration policy and global economic pressures, which have persisted longer than anticipated.
• Management acknowledged results were below expectations and historical performance but noted continued growth in digital accelerators.
• Management expressed confidence in long-term growth opportunities and the digital accelerator strategy's ability to generate strong cash flow and create long-term shareholder value despite near-term challenges.
• The Company remains committed to reducing debt balances to maintain its investment-grade credit rating.

Other Key Points:

• The Company repurchased $50 million of common stock (approximately 690,000 shares) during the quarter.
• Total indebtedness decreased by $476.7 million during the quarter, reflecting the seasonal return of ATM cash following the peak European travel season and cash generated from operations, partially offset by share repurchases.
• The Company hosted an analyst conference call on October 27, 2026, to discuss results and forward-looking information.
• The Company processed more than 20 billion transactions in 2025 across its network.