Strong Earnings and Revenue
Revenue of $1.0 billion, operating income of $72 million, adjusted EBITDA of $126 million and adjusted EPS of $1.58. Adjusted EPS increased 40% year-over-year (from $1.13); excluding a prior-year one-time tax charge, adjusted EPS increased 19% (from $1.33).
EFT Segment Momentum
EFT constant-currency revenue grew 19%, driven by double-digit growth in REN and merchant acquiring and the full-quarter inclusion of CoreCard. Adjusted EBITDA increased 12%; operating income would have grown ~21% excluding ~$5M of noncash purchase price amortization related to CoreCard.
Digital Adoption in Money Transfer
Digital transactions grew 35% year-over-year, new digital customers increased 42%, and digital revenue grew 42% YoY. Account deposit transactions grew 12% and now represent 44% of money transfer transactions and 58% of principal transfer volume.
REN, Banking Infrastructure and Merchant Expansion
Signed strategic REN/banking infrastructure deals including an ATM-as-a-Service agreement with bank99 (Austria), cash recycler deployment with UniCredit (Poland), and a banking infrastructure agreement with Banco Itau (Paraguay). Added ~2,300 new merchants in the quarter and announced acquisition of PaynoPain (Spain).
epay Growth and Partnerships
epay revenue increased 2% on a constant-currency basis; operating income rose 13% and adjusted EBITDA increased 12% (constant currency). Expanded digital content distribution (Revolut expanded to Brazil and Mexico for 22 countries), B2B deal with Apple across 6 countries, and new content deals including Roblox (Japan).
Dandelion and Cross-Border Platform Expansion
Dandelion delivered its strongest quarter to date, launched with 2 new partners (Master Remit and U-Transfer) and signed agreements with 5 additional clients, supporting continued platform momentum and client growth.
Stablecoin Rails, Strategic Investments and Product Wins
Established stablecoin rails in partnership with Fireblocks to enhance treasury management and future payment functionality; made a minority investment in MIO Wallet (Dominican Republic) to expand digital payout capabilities.
Strong Balance Sheet and Capital Allocation
Ended Q1 with $2.1 billion in unrestricted cash and ATM cash, total debt of $2.6 billion, repurchased $100 million of shares (Q1), and reiterated full-year adjusted EPS growth guidance of 10%–15% supported by strong free cash flow and disciplined capital allocation.