Acquisition of CoreCard
Euronet announced the acquisition of CoreCard, a credit card processing platform, which extends their strategy into digital payments and complements their Ren platform. This move opens up a $10 billion+ revenue TAM market with attractive operating margins approaching 50%.
Significant Ren Deal with Top U.S. Bank
Euronet signed a significant deal with one of the top 3 U.S. banks for their Ren platform. This deal was highly competitive and underscores the confidence banking leaders have in Euronet's technology.
Record Second Quarter Performance
Euronet reported $1.1 billion in revenue, $159 million in operating income, and $206 million in adjusted EBITDA. The Money Transfer segment showed 33% constant currency operating income growth.
Continued Digital Transformation
The company reported growth in digital transactions, with digital transactions in the Money Transfer segment growing 29% year-over-year. Euronet is focusing on digital payments and has expanded its digital capabilities through various partnerships and acquisitions.
Positive Outlook for 2025
Euronet reaffirmed its 12% to 16% earnings growth expectation for 2025, indicating a positive outlook for the year.