EURONET WORLDWIDE, INC.

Previous wording

The Payments Infrastructure Segment (PI) meets the needs of financial institutions and consumers through Euronet-owned and outsourced ATMs and POS terminals combined with value added and transaction processing services. We deploy and operate our own ATMs, providing ATM services for financial institutions and providing electronic payment processing solutions. Payments Infrastructure offers a suite of integrated electronic financial transaction software solutions for electronic payment and transaction delivery systems. Transactions processed span a network of 57,071 installed ATMs and approximately 641,000 POS terminals. PI operates in 70 countries.

Current wording

The Payments Infrastructure Segment (PI) meets the needs of financial institutions and consumers through Euronet-owned and outsourced ATMs and POS terminals combined with value added and transaction processing services. We deploy and operate our own ATMs, providing ATM services for financial institutions and providing electronic payment processing solutions. Payments Infrastructure offers a suite of integrated electronic financial transaction software solutions for electronic payment and transaction delivery systems. Transactions processed span a network of 58,420 active ATMs and approximately 685,000 POS terminals. PI operates in 70 countries.

Previous wording

The epay Segment provides retail payment solutions and delivers innovative connections between the digital content of the world’s leading brands and consumers. epay has one of the largest retail networks across Europe and Asia for the distribution of physical and digital third-party content, including branded payments, mobile, and alternative payments, partnering with 1,000+ of the world’s leading brands. In addition, through our own products, we have leveraged our technology to solve business challenges, delivering scalable solutions to drive efficiency and effectiveness. Our comprehensive range of consumer products simplifies transactions and provides financial convenience across a wide range of branded payments. epay operates in 66 countries. We operate a network that includes approximately 739,000 POS terminals that enable electronic processing of prepaid mobile airtime "top-up" services and other digital media content.

Current wording

The epay Segment provides retail payment solutions and delivers innovative connections between the digital content of the world’s leading brands and consumers. epay has one of the largest retail networks across Europe and Asia for the distribution of physical and digital third-party content, including branded payments, mobile, and alternative payments, partnering with 1,000+ of the world’s leading brands. In addition, through our own products, we have leveraged our technology to solve business challenges, delivering scalable solutions to drive efficiency and effectiveness. Our comprehensive range of consumer products simplifies transactions and provides financial convenience across a wide range of branded payments. epay operates in 66 countries. We operate a network that includes approximately 736,000 POS terminals that enable electronic processing of prepaid mobile airtime "top-up" services and other digital media content.

Previous wording

The Cross-Border Payments Segment (CBP) provides global money transfers and currency exchange information in retail stores, apps, and websites through Ria, Xe and the Dandelion cross-border real-time payments network. Euronet’s Cross-Border Payments Segment offers real-time, cross-border payments to consumers and businesses across 200 countries and territories, enabling banks, fintechs and big tech platforms to integrate an international payments solution into their own platforms. Ria offers real-time international money transfers with a special focus on emerging markets. In addition, Ria offers safe and affordable money transfers through a global network of cash locations and online, serving over 20 million customers annually. Xe offers web and app-based currency information and industry-leading consumer and business cross-border money transfer services. Customers can send money, buy property overseas, and execute other international payments via the Xe website or app. Dandelion offers consumer and business transaction processing and fulfillment with alternative payout channels like bank accounts, cash pick-up and mobile wallets. Dandelion powers cross-border payments for Xe and Ria, as well as third party banks, fintechs, and big tech platforms. CBP has digital connections to 4.1 billion bank accounts and 3.7 billion digital wallet accounts.

Current wording

The Cross-Border Payments Segment (CBP) provides global money transfers and currency exchange information in retail stores, apps, and websites through Ria, Xe and the Dandelion cross-border real-time payments network. Euronet’s Cross-Border Payments Segment offers real-time, cross-border payments to consumers and businesses across 199 countries and territories, enabling banks, fintechs and big tech platforms to integrate an international payments solution into their own platforms. Ria offers real-time international money transfers with a special focus on emerging markets. In addition, Ria offers safe and affordable money transfers through a global network of cash locations and online, serving over 20 million customers annually. Xe offers web and app-based currency information and industry-leading consumer and business cross-border money transfer services. Customers can send money, buy property overseas, and execute other international payments via the Xe website or app. Dandelion offers consumer and business transaction processing and fulfillment with alternative payout channels like bank accounts, cash pick-up and mobile wallets. Dandelion powers cross-border payments for Xe and Ria, as well as third party banks, fintechs, and big tech platforms. CBP has digital connections to 4.1 billion bank accounts and 3.5 billion digital wallet accounts.

Previous wording

Our executive offices are located in Leawood, Kansas, USA. With approximately 76% of our revenues denominated in currencies other than the U.S. dollar, any significant changes in foreign currency exchange rates will likely have a significant impact on our results of operations (for a further discussion, see Item 1 A - Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2025).

Current wording

Our executive offices are located in Leawood, Kansas, USA. With approximately 77% of our revenues denominated in currencies other than the U.S. dollar, any significant changes in foreign currency exchange rates will likely have a significant impact on our results of operations (for a further discussion, see Item 1 A - Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2025).

Previous wording

Payments Infrastructure Segment — Revenues in the PI Segment, which represented approximately 34% and 32% of total consolidated revenues for thethree and six months ended June 30, 2026 are derived from fees charged for transactions made by cardholders on our proprietary network of ATMs, fixed management fees and transaction fees we charge to customers for operating ATMs and processing debit and credit cards under outsourcing and cross-border acquiring agreements, foreign currency exchange margin on DCC transactions, domestic and international surcharge, foreign currency dispensing and other value added services such as advertising, prepaid telecommunication recharges, bill payment, and money transfers provided over ATMs. Revenues in this segment are also derived from cardless payment, banknote recycling, tax refund services, license fees, professional services and maintenance fees for proprietary application software and sales of related hardware.

Current wording

Payments Infrastructure Segment — Revenues in the PI Segment, which represented approximately 38% and 34% of total consolidated revenues for thethree and nine months ended September 30, 2026 are derived from fees charged for transactions made by cardholders on our proprietary network of ATMs, fixed management fees and transaction fees we charge to customers for operating ATMs and processing debit and credit cards under outsourcing and cross-border acquiring agreements, foreign currency exchange margin on DCC transactions, domestic and international surcharge, foreign currency dispensing and other value added services such as advertising, prepaid telecommunication recharges, bill payment, and money transfers provided over ATMs. Revenues in this segment are also derived from cardless payment, banknote recycling, tax refund services, license fees, professional services and maintenance fees for proprietary application software and sales of related hardware.

Previous wording

epay Segment — Revenues in the epay Segment, which represented approximately 26% and 27% of total consolidated revenues for thethree and six months ended June 30, 2026 are primarily derived from commissions or processing fees received from mobile phone operators for the processing and distribution of prepaid mobile airtime and commissions earned from the distribution of other electronic content, vouchers, and physical gifts. The proportion of epay Segment revenues earned from the distribution of prepaid mobile phone time has decreased over time, and digital media content now produces approximately 75% of epay Segment revenues. Digital media content offered by this segment includes digital content such as music, games, and software, as well as other products including prepaid long distance calling card plans, prepaid Internet plans, prepaid debit cards, gift cards, vouchers, transport payments, lottery payments, bill payment, and money transfer.

Current wording

epay Segment — Revenues in the epay Segment, which represented approximately 25% and 27% of total consolidated revenues for thethree and nine months ended September 30, 2026 are primarily derived from commissions or processing fees received from mobile phone operators for the processing and distribution of prepaid mobile airtime and commissions earned from the distribution of other electronic content, vouchers, and physical gifts. The proportion of epay Segment revenues earned from the distribution of prepaid mobile phone time has decreased over time, and digital media content now produces approximately 77% of epay Segment revenues. Digital media content offered by this segment includes digital content such as music, games, and software, as well as other products including prepaid long distance calling card plans, prepaid Internet plans, prepaid debit cards, gift cards, vouchers, transport payments, lottery payments, bill payment, and money transfer.

Previous wording

Cross-Border Payments Segment — Revenues in the CBP Segment, which represented approximately 40% and 41% of total consolidated revenues for thethree and six months ended June 30, 2026, are primarily derived from transaction fees, as well as the margin earned from purchasing foreign currency at wholesale exchange rates and selling the foreign currency to customers at retail exchange rates. We have a sending agent network in place comprised of agents, customer service representatives, Company-owned stores, primarily in North America, Europe and Malaysia, Ria, and Xe branded websites, along with a worldwide network of correspondent agents, consisting primarily of financial institutions in the transfer destination countries. Under the brand "Dandelion", Ria offers payment processing services to third party partners. The Dandelion cross-border payments platform provides financial institutions, fintechs such as digital wallets and banks, and enterprise software companies access to Euronet's money transfer network through an API connection. Sending and correspondent agents each earn fees for cash collection and distribution services, which are recognized as direct operating costs at the time of sale. More recently, the U.S. outbound remittance market has experienced lower transaction volumes due to changes in U.S. immigration policies and the implementation of the U.S. remittance tax, which have affected certain remittance corridors. While these market-wide dynamics have impacted retail transaction volumes, the Company continues to experience strong growth in its digital business, expand its payment network and invest in initiatives designed to support long-term growth.

Current wording

Cross-Border Payments Segment — Revenues in the CBP Segment, which represented approximately 37% and 39% of total consolidated revenues for thethree and nine months ended September 30, 2026, are primarily derived from transaction fees, as well as the margin earned from purchasing foreign currency at wholesale exchange rates and selling the foreign currency to customers at retail exchange rates. We have a sending agent network in place comprised of agents, customer service representatives, Company-owned stores, primarily in North America, Europe and Malaysia, Ria, and Xe branded websites, along with a worldwide network of correspondent agents, consisting primarily of financial institutions in the transfer destination countries. Under the brand "Dandelion", Ria offers payment processing services to third party partners. The Dandelion cross-border payments platform provides financial institutions, fintechs such as digital wallets and banks, and enterprise software companies access to Euronet's money transfer network through an API connection. Sending and correspondent agents each earn fees for cash collection and distribution services, which are recognized as direct operating costs at the time of sale. More recently, the U.S. outbound remittance market has experienced lower transaction volumes due to changes in U.S. immigration policies and the implementation of the U.S. remittance tax, which have affected certain remittance corridors. While these market-wide dynamics have impacted retail transaction volumes, the Company continues to experience strong growth in its digital business, expand its payment network and invest in initiatives designed to support long-term growth.

Previous wording

The Company's consolidated results for the second quarter of 2026 reflected continued strength in the Payments Infrastructure and epay segments, driven by growth in merchant acquiring, software solutions, digital content and payment acceptance. These gains were partially offset by lower retail remittance volumes in the Cross-Border Payments segment, which were impacted by changes in U.S. immigration policies and the implementation of the U.S. remittance tax. The Company also continued to benefit from growth in digital money transfers and expansion of the Dandelion network.

Current wording

The Company's consolidated results for the third quarter of 2026 reflected continued strength in the Payments Infrastructure and epay segments, driven by growth in merchant acquiring, software solutions, digital content and payment acceptance. These gains were partially offset by lower retail remittance volumes in the Cross-Border Payments segment, which were impacted by changes in U.S. immigration policies and the implementation of the U.S. remittance tax. The Company also continued to benefit from growth in digital money transfers and expansion of the Dandelion network.

Previous wording

Revenues and operating income by segment for the three and six months ended June 30, 2026 and 2025 are summarized in the tables below:

Current wording

Revenues and operating income by segment for the three and nine months ended September 30, 2026 and 2025 are summarized in the tables below:

Previous wording

COMPARISON OF OPERATING RESULTS FOR THETHREE AND SIX MONTHS ENDED JUNE 30, 2026 AND 2025

Current wording

COMPARISON OF OPERATING RESULTS FOR THETHREE AND NINE MONTHS ENDED SEPTEMBER 30, 2026 AND 2025

Previous wording

The Payments Infrastructure segment delivered another quarter of solid growth, driven by continued expansion in merchant acquiring, software solutions and payment processing services, together with the contribution from the CoreCard acquisition completed in the fourth quarter of 2025. These gains were partially offset by higher non-cash purchase accounting amortization associated with the CoreCard acquisition.

Current wording

The Payments Infrastructure segment delivered another quarter of solid growth, driven by continued growth in acquiring and REN infrastructure sales, together with the contribution from the CoreCard acquisition completed in the fourth quarter of 2025, partially offset by continued economic pressures together with, more recently, greater consumer use of multi-currency ATMs and multicurrency withdrawal cards and by higher non-cash purchase accounting amortization associated with the CoreCard acquisition.

Previous wording

The following table summarizes the results of operations for our Payments Infrastructure Segment for the three and six months ended June 30, 2026 and 2025:

Current wording

The following table summarizes the results of operations for our Payments Infrastructure Segment for the three and nine months ended September 30, 2026 and 2025:

Previous wording

Payments Infrastructure Segment total revenues were $377.1 million for thethree months ended June 30, 2026, an increase of $38.6 million or 11% compared to the same period in 2025. Total revenues were $672.5 million for thesix months ended June 30, 2026, an increase of $101.5 million or 18% compared to the same period in 2025. Revenue growth was driven by continued growth in acquiring, REN infrastructure sales and contributions from the CoreCard acquisition completed in the fourth quarter of 2025. Fluctuations in foreign currency exchange rates increased revenues by approximately $3.8 million for thethree months ended June 30, 2026 compared to the same period in 2025. Fluctuations in foreign currency exchange rates increased revenues by approximately $24.7 million for thesix months ended June 30, 2026 compared to the same period in 2025.

Current wording

Payments Infrastructure Segment total revenues were $437.9 million for thethree months ended September 30, 2026, an increase of $28.5 million or 7% compared to the same period in 2025. Total revenues were $1,110.4 million for thenine months ended September 30, 2026, an increase of $130.0 million or 13% compared to the same period in 2025. Revenue growth was driven by continued growth in acquiring, REN infrastructure sales and contributions from the CoreCard acquisition completed in the fourth quarter of 2025. Fluctuations in foreign currency exchange rates decreased revenues by approximately $8.1 million for thethree months ended September 30, 2026 compared to the same period in 2025. Fluctuations in foreign currency exchange rates increased revenues by approximately $21.3 million for thenine months ended September 30, 2026 compared to the same period in 2025.

Previous wording

Payments Infrastructure Segment direct operating costs were $191.0 million for the three months ended June 30, 2026, an increase of $17.1 million or 10% compared to the same period in 2025. Direct operating costs were $366.2 million for thesix months ended June 30, 2026, an increase of $55.8 million or 18% compared to the same period in 2025. Direct operating costs primarily consist of site rental fees, cash delivery costs, cash supply costs, maintenance, insurance, telecommunications, payment scheme processing fees, data center operations-related personnel, as well as the processing centers’ facility-related costs and other processing center-related expenses and commissions paid to retail merchants, banks and card processors. The primary drivers of the increase in direct costs were additional expenses required to support increased business volumes from both new (CoreCard) and existing operations. Fluctuations in foreign currency exchange rates increased direct operating costs by approximately $2.5 million for thethree months ended June 30, 2026 compared to the same period in 2025. Fluctuations in foreign currency exchange rates increased direct operating costs by approximately $15.3 million for thesix months ended June 30, 2026 compared to the same period in 2025.

Current wording

Payments Infrastructure Segment direct operating costs were $210.0 million for the three months ended September 30, 2026, an increase of $15.6 million or 8% compared to the same period in 2025. Direct operating costs were $576.2 million for thenine months ended September 30, 2026, an increase of $71.4 million or 14% compared to the same period in 2025. Direct operating costs primarily consist of site rental fees, cash delivery costs, cash supply costs, maintenance, insurance, telecommunications, payment scheme processing fees, data center operations-related personnel, as well as the processing centers’ facility-related costs and other processing center-related expenses and commissions paid to retail merchants, banks and card processors. The primary drivers of the increase in direct costs were additional expenses required to support increased business volumes from both new (CoreCard) and existing operations. Fluctuations in foreign currency exchange rates increased direct operating costs by approximately $4.1 million for thethree months ended September 30, 2026 compared to the same period in 2025. Fluctuations in foreign currency exchange rates decreased direct operating costs by approximately $12.7 million for thenine months ended September 30, 2026 compared to the same period in 2025.

Previous wording

Gross profit, which is calculated as revenues less direct operating costs, was $186.1 million for the three months ended June 30, 2026, an increase of $21.5 million or 13% compared to $164.6 million for the same period in 2025. Gross profit was $306.3 million for thesix months ended June 30, 2026, an increase of $45.7 million or 18% compared to $260.6 million for the same period in 2025. Gross profit as a percentage of revenues (“gross margin”) changed to 49.4% and 45.5% for the three and six months ended June 30, 2026, compared to 48.6% and 45.6% for the same period in 2025.

Current wording

Gross profit, which is calculated as revenues less direct operating costs, was $227.9 million for the three months ended September 30, 2026, an increase of $12.9 million or 6% compared to $215.0 million for the same period in 2025. Gross profit was $534.2 million for thenine months ended September 30, 2026, an increase of $58.6 million or 12% compared to $475.6 million for the same period in 2025. Gross profit as a percentage of revenues (“gross margin”) changed to 52.0% and 48.1% for the three and nine months ended September 30, 2026, compared to 52.5% and 48.5% for the same periods in 2025.

Previous wording

Salaries and benefits expenses were $51.1 million for thethree months ended June 30, 2026, an increase of $11.4 million or 29% compared to the same period in 2025. Salaries and benefits expenses were $99.5 million for thesix months ended June 30, 2026, an increase of $24.3 million or 32% compared to the same period in 2025. The increase is primarily due to the acquisition of CoreCard in the fourth quarter of 2025, an increase in headcount to support the growth of the business and salary increases due to merit increases and inflationary pressures. As a percentage of revenues, salary expense increased to 13.6% and 14.8% for the three and six months ended June 30, 2026, compared to 11.7% and 13.2% for the same period in 2025. Fluctuations in foreign currency exchange rates increased salaries and benefits by approximately $0.5 million for thethree months ended June 30, 2026 compared to the same period in 2025. Fluctuations in foreign currency exchange rates increased salaries and benefits by approximately $3.5 million for thesix months ended June 30, 2026 compared to the same period in 2025.

Current wording

Salaries and benefits expenses were $51.0 million for thethree months ended September 30, 2026, an increase of $4.4 million or 9% compared to the same period in 2025. Salaries and benefits expenses were $150.5 million for thenine months ended September 30, 2026, an increase of $28.7 million or 24% compared to the same period in 2025. The increase is primarily due to the acquisition of CoreCard in the fourth quarter of 2025, an increase in headcount to support the growth of the business and salary increases due to merit increases and inflationary pressures. As a percentage of revenues, salary expense increased to 11.6% and 13.6% for the three and nine months ended September 30, 2026, compared to 11.4% and 12.4% for the same periods in 2025. Fluctuations in foreign currency exchange rates increased salaries and benefits by approximately $1.3 million for thethree months ended September 30, 2026 compared to the same period in 2025. Fluctuations in foreign currency exchange rates decreased salaries and benefits by approximately $2.3 million for thenine months ended September 30, 2026 compared to the same period in 2025.

Previous wording

Depreciation and amortization expenses were $31.8 million for thethree months ended June 30, 2026, an increase of $5.8 million or 22% compared to the same period in 2025. Depreciation and amortization expenses were $63.6 million for thesix months ended June 30, 2026, an increase of $13.3 million or 26% compared to the same period in 2025. The increase was primarily attributable to the acquisition of CoreCard, including amortization expense related to identifiable intangible assets recognized in the purchase price allocation. As a percentage of revenues, these expenses increased to 8.4% and 9.5% for the three and six months ended June 30, 2026, compared to 7.7% and 8.8% for the same period in 2025.

Current wording

Depreciation and amortization expenses were $31.4 million for thethree months ended September 30, 2026, an increase of $4.8 million or 18% compared to the same period in 2025. Depreciation and amortization expenses were $95.0 million for thenine months ended September 30, 2026, an increase of $18.1 million or 24% compared to the same period in 2025. The increase was primarily attributable to the acquisition of CoreCard, including amortization expense related to identifiable intangible assets recognized in the purchase price allocation. As a percentage of revenues, these expenses increased to 7.2% and 8.6% for the three and nine months ended September 30, 2026, compared to 6.5% and 7.8% for the same periods in 2025.

Previous wording

Payments Infrastructure Segment had operating income of $86.1 million for thethree months ended June 30, 2026, an increase of $1.5 million or 2% compared to the same period in 2025. PI Segment had operating income of $109.5 million for the six months ended June 30, 2026, an increase of $1.6 million or 1% compared to the same period in 2025. Operating income as a percentage of revenues (“operating margin”)decreased to 22.8% and 16.3% for thethree and six months ended June 30, 2026, compared to 25.0% and 18.9% for the same period in 2025. Operating income increased 2% despite an approximately $4.7 million increase in non-cash purchase accounting amortization associated with the CoreCard acquisition. Excluding this incremental amortization, operating income increased approximately 7%.

Current wording

Payments Infrastructure Segment had operating income of $128.2 million for thethree months ended September 30, 2026, an increase of $0.1 million to the same period in 2025. PI Segment had operating income of $237.7 million for the nine months ended September 30, 2026, an increase of $1.7 million or 1% compared to the same period in 2025. Operating income as a percentage of revenues (“operating margin”)decreased to 29.3% and 21.4% for thethree and nine months ended September 30, 2026, compared to 31.3% and 24.1% for the same periods in 2025.

Previous wording

The epay segment delivered another quarter of consistent and profitable growth, driven by continued demand for higher-value digital content, branded payments and prepaid products, together with ongoing expansion of the Company's global payment acceptance network. While transaction volumes declined due to changes in product mix, revenue, operating income and Adjusted EBITDA each increased, reflecting the continued shift toward higher-value transactions.

Current wording

The epay segment delivered another quarter of consistent and profitable growth, driven by continued demand for higher-value digital content, branded payments and prepaid products, together with ongoing expansion of the Company's global payment acceptance network.

Previous wording

The following table presents the results of operations for the three and six months ended June 30, 2026 and 2025 for our epay Segment:

Current wording

The following table presents the results of operations for the three and nine months ended September 30, 2026 and 2025 for our epay Segment:

Previous wording

epay Segment total revenues were $294.0 million for thethree months ended June 30, 2026, an increase of $13.9 million or 5% compared to the same period in 2025. epay Segment total revenues were $587.5 million for the six months ended June 30, 2026, an increase of $40.0 million or 7% compared to the same period in 2025. The increases were driven by continued demand for higher-value digital content, branded payment products and prepaid products, as well as continued expansion of the Company's payment acceptance network. Although transaction volumes declined compared to the prior year, the decline primarily reflected changes in product mix rather than underlying demand, as a greater proportion of transactions consisted of higher-value products that generated higher revenue per transaction. Fluctuations in foreign currency exchange rates increased revenues by approximately $3.8 million for thethree months ended June 30, 2026 compared to the same period in 2025. Fluctuations in foreign currency exchange rates increased revenues by approximately $23.7 million for thesix months ended June 30, 2026 compared to the same period in 2025. Excluding the impact of foreign currency, revenue growth reflects favorable transaction mix and pricing. The decrease in transactions processed primarily relates to high‑volume, low‑revenue transactions in the Asia Pacific region and did not have a significant impact on revenues.

Current wording

epay Segment total revenues were $294.7 million for thethree months ended September 30, 2026, an increase of $8.2 million or 3% compared to the same period in 2025. epay Segment total revenues were $882.2 million for the nine months ended September 30, 2026, an increase of $48.2 million or 6% compared to the same periods in 2025. The increases were driven by continued demand for higher-value digital content, branded payment products and prepaid products together with effective promotional campaigns, as well as continued expansion of the Company's payment acceptance network. Fluctuations in foreign currency exchange rates decreased revenues by approximately $5.0 million for thethree months ended September 30, 2026 compared to the same period in 2025. Fluctuations in foreign currency exchange rates increased revenues by approximately $19.1 million for thenine months ended September 30, 2026 compared to the same period in 2025. Excluding the impact of foreign currency, revenue growth reflects favorable transaction mix and pricing.

Previous wording

epay Segment direct operating costs were $218.5 million for the three months ended June 30, 2026, an increase of $7.6 million or 4% compared to the same period in 2025. epay Segment direct operating costs were $440.0 million for the six months ended June 30, 2026, an increase of $27.0 million or 7% compared to the same period in 2025. Direct operating costs primarily consist of the commissions paid to retail merchants for the distribution and sale of prepaid mobile airtime and other prepaid products, expenses incurred to operate POS terminals and the cost of vouchers sold and physical gifts fulfilled. Fluctuations in foreign currency exchange rates increased direct operating costs by approximately $3.0 million for thethree months ended June 30, 2026 compared to the same period in 2025. Fluctuations in foreign currency exchange rates increased direct operating costs by approximately $18.0 million for thesix months ended June 30, 2026 compared to the same period in 2025.

Current wording

epay Segment direct operating costs were $222.3 million for the three months ended September 30, 2026, an increase of $6.0 million or 3% compared to the same period in 2025. epay Segment direct operating costs were $662.3 million for the nine months ended September 30, 2026, an increase of $33.0 million or 5% compared to the same periods in 2025. Direct operating costs primarily consist of the commissions paid to retail merchants for the distribution and sale of prepaid mobile airtime and other prepaid products, expenses incurred to operate POS terminals and the cost of vouchers sold and physical gifts fulfilled. Fluctuations in foreign currency exchange rates increased direct operating costs by approximately $3.7 million for thethree months ended September 30, 2026 compared to the same period in 2025. Fluctuations in foreign currency exchange rates decreased direct operating costs by approximately $14.7 million for thenine months ended September 30, 2026 compared to the same period in 2025.

Previous wording

Gross profit was $75.5 million for the three months ended June 30, 2026, an increase of $6.3 million or 9% compared to $69.2 million for the same period in 2025. Gross profit was $147.5 million for the six months ended June 30, 2026, an increase of $13.0 million or 10% compared to $134.5 million for the same period in 2025. Gross margin increased to 25.7% and 25.1% for thethree and six months ended June 30, 2026, compared to 24.7% and 24.6% for the same period in 2025. The increase in gross profit and gross margin were primarily a result of a shift in the mix of transactions processed.

Current wording

Gross profit was $72.4 million for the three months ended September 30, 2026, an increase of $2.2 million or 3% compared to $70.2 million for the same period in 2025. Gross profit was $219.9 million for the nine months ended September 30, 2026, an increase of $15.2 million or 7% compared to $204.7 million for the same periods in 2025. Gross margin increased to 24.6% and 24.9% for thethree and nine months ended September 30, 2026, compared to 24.5% and 24.5% for the same period in 2025. The increase in gross profit and gross margin were primarily a result of a shift in the mix of transactions processed.

Previous wording

Salaries and benefits expenses were $29.3 million for the three months ended June 30, 2026, an increase of $2.7 million or 10% compared to the same period in 2025. Salaries and benefits expenses were $57.5 million for the six months ended June 30, 2026, an increase of $6.8 million or 13% compared to the same period in 2025. As a percentage of revenues, these expenses increased to 10.0% and 9.8% for the three and six months ended June 30, 2026, compared to 9.5% and 9.3% for the same period in 2025. The increase is primarily due to merit increases and inflationary pressures. Fluctuations in foreign currency exchange rates increased salaries and benefits by approximately $0.5 million for thethree months ended June 30, 2026 compared to the same period in 2025. Fluctuations in foreign currency exchange rates increased salaries and benefits by approximately $2.5 million for thesix months ended June 30, 2026 compared to the same period in 2025.

Current wording

Salaries and benefits expenses were $29.0 million for the three months ended September 30, 2026, an increase of $1.0 million or 4% compared to the same period in 2025. Salaries and benefits expenses were $86.5 million for the nine months ended September 30, 2026, an increase of $7.8 million or 10% compared to the same period in 2025. As a percentage of revenues, these expenses changed to 9.8% for the three and nine months ended September 30, 2026, compared to 9.8% and 9.4% for the same period in 2025. The increase is primarily due to merit increases and inflationary pressures. Fluctuations in foreign currency exchange rates increased salaries and benefits by approximately $0.3 million for thethree months ended September 30, 2026 compared to the same period in 2025. Fluctuations in foreign currency exchange rates decreased salaries and benefits by approximately $2.2 million for thenine months ended September 30, 2026 compared to the same period in 2025.

Previous wording

Depreciation and amortization expenses were $1.6 million for the three months ended June 30, 2026, a decrease of $0.1 million or 6% compared to the same period in 2025. Depreciation and amortization expenses were $3.1 million for the six months ended June 30, 2026, a decrease of $0.2 million or 6% compared to the same period in 2025. Depreciation and amortization expense primarily represent depreciation of POS terminals we install in retail stores and amortization of acquired intangible assets. As a percentage of revenues, these expenses decreased to 0.5% and 0.5% for thethree and six months ended June 30, 2026, compared to 0.6% and 0.6% for the same period in 2025.

Current wording

Depreciation and amortization expenses were $1.6 million for the three months ended September 30, 2026, an increase of $0.1 million or 7% compared to the same period in 2025. Depreciation and amortization expenses were $4.7 million for the nine months ended September 30, 2026, a decrease of $0.1 million or 2% compared to the same period in 2025. Depreciation and amortization expense primarily represent depreciation of POS terminals we install in retail stores and amortization of acquired intangible assets. As a percentage of revenues, these expenses remained at 0.5% for the three months ended September 30, 2026 and 2025 and decreased to 0.5% for the nine months ended September 30, 2026 compared to 0.6% for the same period in 2025.

Previous wording

epay Segment operating income was $32.8 million for the three months ended June 30, 2026, an increase of $1.7 million or 5% compared to the same period in 2025. epay Segment operating income was $65.2 million for the six months ended June 30, 2026, an increase of $7.3 million or 13% compared to the same period in 2025. Operating margin increased to 11.2% and 11.1% for thethree and six months ended June 30, 2026, compared to 11.1% and 10.6% for the same period in 2025. The segment continued to deliver consistent underlying performance supported by higher-value digital content, prepaid and payment products, while continuing to expand its payment acceptance footprint with an increase in POS terminals and digital distribution.

Current wording

epay Segment operating income was $31.8 million for the three months ended September 30, 2026, an increase of $0.8 million or 3% compared to the same period in 2025. epay Segment operating income was $97.0 million for the nine months ended September 30, 2026, an increase of $8.1 million or 9% compared to the same period in 2025. Operating margin remained the same at 10.8% for the three months ended September 30, 2026 and 2025 and increased to 11.0% for the nine months ended September 30, 2026 compared to 10.7% for the same period in 2025. The segment continued to deliver consistent underlying performance supported by higher-value digital content, prepaid and payment products, while continuing to expand its payment acceptance footprint with an increase in POS terminals and digital distribution.

Previous wording

The following table presents the results of operations for the three and six months ended June 30, 2026 and 2025 for the Cross-Border Payments Segment:

Current wording

The following table presents the results of operations for the three and nine months ended September 30, 2026 and 2025 for the Cross-Border Payments Segment:

Previous wording

Cross-Border Payments Segment total revenues were $439.6 million for thethree months ended June 30, 2026, a decrease of $18.3 million or 4% compared to the same period in 2025. CBP Segment total revenues were $864.8 million for the six months ended June 30, 2026, a decrease of $10.8 million or 1% compared to the same period in 2025. Revenues per transaction was $9.62 and $9.65 for thethree and six months ended June 30, 2026, compared to $9.93 and $9.65 for the same period in 2025. Fluctuations in foreign currency exchange rates increased revenues by approximately $6.6 million and $29.8 million for thethree and six months ended June 30, 2026 compared to the same period in 2025. Revenue, gross profit and operating income were impacted by several factors, including the implementation of the 1% U.S. remittance tax, which reduced consumer transaction activity during the quarter, changes in U.S. immigration policies affecting transfers, middle east pressures and persistent inflation in many markets that constrained consumers’ ability to send money to beneficiaries internationally. These headwinds were partially offset by continued strength in our digital business, with consumer-to-consumer digital transactions increasing 33%, continued momentum in our Dandelion cross-border payments platform and a 3% expansion of our global network.

Current wording

Cross-Border Payments Segment total revenues were $431.0 million for thethree months ended September 30, 2026, a decrease of $21.4 million or 5% compared to the same period in 2025. CBP Segment total revenues were $1,295.8 million for the nine months ended September 30, 2026, a decrease of $32.2 million or 2% compared to the same period in 2025. Revenues per transaction was $9.51 and$9.61 for thethree and nine months ended September 30, 2026, compared to $9.83 and $9.71 for the same periods in 2025. Fluctuations in foreign currency exchange rates decreased revenues by approximately $2.1 million and increased revenues by approximately $27.9 million for thethree and nine months ended September 30, 2026 compared to the same periods in 2025. Revenue, gross profit and operating income were impacted by several factors, including the implementation of the 1% U.S. remittance tax, which reduced consumer transaction activity during the quarter, changes in U.S. immigration policies affecting transfers, middle east pressures and persistent inflation in many markets that constrained consumers’ ability to send money to beneficiaries internationally. These headwinds were partially offset by continued strength in our digital business, with consumer-to-consumer digital transactions increasing 34%.

Previous wording

Cross-Border Payments Segment direct operating costs were $232.3 million for thethree months ended June 30, 2026, a decrease of $5.7 million or 2% compared to the same period in 2025. CBP Segment direct operating costs were $455.3 million for the six months ended June 30, 2026, a decrease of $7.2 million or 2% compared to the same period in 2025. Direct operating costs primarily consist of commissions paid to agents who originate money transfers on our behalf and correspondent agents who disburse funds to the customers’ destination beneficiaries, together with less significant costs, such as bank depository fees. Fluctuations in foreign currency exchange rates increased direct operating costs by approximately $3.3 million and $14.8 million for thethree and six months ended June 30, 2026 compared to the same period in 2025.

Current wording

Cross-Border Payments Segment direct operating costs were $227.2 million for thethree months ended September 30, 2026, a decrease of $8.6 million or 4% compared to the same period in 2025. CBP Segment direct operating costs were $682.5 million for the nine months ended September 30, 2026, a decrease of $15.8 million or 2% compared to the same period in 2025. Direct operating costs primarily consist of commissions paid to agents who originate money transfers on our behalf and correspondent agents who disburse funds to the customers’ destination beneficiaries, together with less significant costs, such as bank depository fees. Fluctuations in foreign currency exchange rates increased direct operating costs by approximately $1.1 million and decreased directs operating costs by $13.8 million for thethree and nine months ended September 30, 2026 compared to the same periods in 2025.

Previous wording

Salaries and benefits expenses were $91.7 million for thethree months ended June 30, 2026, an increase of $3.5 million or 4% compared to the same period in 2025. Salaries and benefits expenses were $184.4 million for the six months ended June 30, 2026, an increase of $8.3 million or 5% compared to the same period in 2025. The increase in salaries and benefits was primarily driven by salary increases due to inflationary pressures. As a percentage of revenues, salary expenses increased to 20.9% and 21.3% for the three and six months ended June 30, 2026, compared to 19.3% and 20.1% for the same period in 2025.

Current wording

Salaries and benefits expenses were $92.0 million for thethree months ended September 30, 2026, a decrease of $0.6 million or 1% compared to the same period in 2025. Salaries and benefits expenses were $276.4 million for the nine months ended September 30, 2026, an increase of $7.7 million or 3% compared to the same period in 2025. The increase in salaries and benefits was primarily driven by salary increases due to inflationary pressures. As a percentage of revenues, salary expenses increased to 21.3% for both the three and nine months ended September 30, 2026, compared to 20.5% and 20.2% for the same periods in 2025.

Previous wording

Selling, general and administrative expenses were $65.9 million for the three months ended June 30, 2026, an increase of $5.8 million or 10% compared to the same period in 2025. Selling, general and administrative expenses were $127.1 million for the six months ended June 30, 2026, an increase of $12.9 million or 11% compared to the same period in 2025. The increase was primarily attributable to higher professional fees, increased advertising and promotion expenses to support strategic initiatives. As a percentage of revenues, these expenses increased to 15.0% and 14.7% for the three and six months ended June 30, 2026, compared to 13.1% and 13.0% for the same period in 2025. Fluctuations in foreign currency exchange rates increased salaries and benefits by approximately $1.9 million for thethree months ended June 30, 2026 compared to the same period in 2025. Fluctuations in foreign currency exchange rates increased salaries and benefits by approximately $7.5 million for thesix months ended June 30, 2026 compared to the same period in 2025.

Current wording

Selling, general and administrative expenses were $68.2 million for the three months ended September 30, 2026, an increase of $10.1 million or 17% compared to the same period in 2025. Selling, general and administrative expenses were $195.3 million for the nine months ended September 30, 2026, an increase of $23.0 million or 13% compared to the same period in 2025. The increase was primarily attributable to higher professional fees, increased advertising and promotion expenses to support strategic initiatives. As a percentage of revenues, these expenses increased to 15.8% and 15.1% for the three and nine months ended September 30, 2026, compared to 12.8% and 13.0% for the same periods in 2025.

Previous wording

Depreciation and amortization expenses were $6.4 million for thethree months ended June 30, 2026, an increase of $0.4 million or 7% compared to the same period in 2025. Depreciation and amortization expenses were $12.8 million for the six months ended June 30, 2026, an increase of $0.7 million or 6% compared to the same period in 2025. Depreciation and amortization expenses primarily represent amortization of acquired intangible assets and depreciation of money transfer terminals, computers and software, leasehold improvements and office equipment. As a percentage of revenues, these expenses were 1.5% and 1.5% for both thethree and six months ended June 30, 2026, compared to 1.3% and 1.4% for the same period in 2025.

Current wording

Depreciation and amortization expenses were $6.3 million for thethree months ended September 30, 2026, a decrease of $0.3 million or 5% compared to the same period in 2025. Depreciation and amortization expenses were $19.1 million for the nine months ended September 30, 2026, an increase of $0.4 million or 2% compared to the same period in 2025. Depreciation and amortization expenses primarily represent amortization of acquired intangible assets and depreciation of money transfer terminals, computers and software, leasehold improvements and office equipment. As a percentage of revenues, these expenses were 1.5% for both thethree and nine months ended September 30, 2026, compared to 1.5% and 1.4% for the same periods in 2025.

Previous wording

Cross-Border Payments Segment operating income was $43.3 million for the three months ended June 30, 2026, a decrease of $22.3 million or 34% compared to the same period in 2025. CBP Segment operating income was $85.2 million for the six months ended June 30, 2026, a decrease of $25.5 million or 23% compared to the same period in 2025. Operating margin was 9.8% and 9.9% for thethree and six months ended June 30, 2026, compared to 14.3% and 12.6% for the same period in 2025. Operating income per transaction was $0.95 and $0.95 for the three and six months ended June 30, 2026, compared to $1.42 and $1.22 for the same period in 2025. The decrease in operating income and operating margin was primarily attributable to lower transaction volumes in higher-margin corridors, a less favorable transaction mix, competitive pricing pressure in certain markets, and continued investment in the digital business and the Dandelion platform.

Current wording

Cross-Border Payments Segment operating income was $37.3 million for the three months ended September 30, 2026, a decrease of $22.0 million or 37% compared to the same period in 2025. CBP Segment operating income was $122.5 million for the nine months ended September 30, 2026, a decrease of $47.5 million or 28% compared to the same period in 2025. Operating margin was 8.7% and 9.5% for thethree and nine months ended September 30, 2026, compared to 13.1% and 12.8% for the same periods in 2025. Operating income per transaction was $0.82 and $0.91 for the three and nine months ended September 30, 2026, compared to $1.29 and $1.24 for the same period in 2025. The decrease in operating income and operating margin was primarily attributable to lower transaction volumes in higher-margin corridors, a less favorable transaction mix, competitive pricing pressure in certain markets, and continued investment in the digital business and the Dandelion platform.

Previous wording

The following table presents the operating expenses for the three and six months ended June 30, 2026 and 2025 for Corporate Services:

Current wording

The following table presents the operating expenses for the three and nine months ended September 30, 2026 and 2025 for Corporate Services:

Previous wording

Total Corporate operating expenses were $25.7 million and $50.7 million for thethree and six months ended June 30, 2026, an increase of $2.3 million or 10% and $8.0 million or 19% compared to the same period in 2025. This increase was largely driven by an increase in long-term share-based compensation.

Current wording

Total Corporate operating expenses were $25.7 million and $76.4 million for thethree and nine months ended September 30, 2026, an increase of $2.3 million or 10% and $10.3 million or 16% compared to the same periods in 2025. This increase was largely driven by an increase in long-term share-based compensation.

Previous wording

Interest income was $4.8 million for thethree months ended June 30, 2026, a decrease of $1.4 million or 23% compared to the same period in 2025. Interest income was $8.9 million for the six months ended June 30, 2026, a decrease $2.6 million or 23% compared to the same period in 2025. This decrease was driven by a decrease in interest rates.

Current wording

Interest income was $5.0 million for thethree months ended September 30, 2026, a decrease of $1.2 million or 19% compared to the same period in 2025. Interest income was $13.9 million for the nine months ended September 30, 2026, a decrease of $3.8 million or 21% compared to the same period in 2025. This decrease was driven by a decrease in interest rates.

Previous wording

Interest expense was $20.6 million for thethree months ended June 30, 2026, a decrease of $7.6 million or 27% compared to the same period in 2025. Interest expense was $34.7 million for the six months ended June 30, 2026, a decrease of $12.9 million or 27% compared to the same period in 2025. This decrease for thesix months ended June 30, 2026 compared to the same period in 2025 was largely driven by the shift of borrowing from the Credit Facility to the 2030 Convertible Notes during the first quarter of 2026.

Current wording

Interest expense was $21.7 million for thethree months ended September 30, 2026, a decrease of $0.8 million or 4% compared to the same period in 2025. Interest expense was $56.4 million for the nine months ended September 30, 2026, a decrease of $13.7 million or 20% compared to the same period in 2025.

Previous wording

We recorded net foreign currency exchange gain of ($0.2) million and a loss of $8.2 million for thethree and six months ended June 30, 2026, compared to net foreign currency exchange losses of $5.7 million and $23.8 million for the same period in 2025. These realized and unrealized foreign currency exchange results reflect the fluctuation in the value of the U.S. dollar against the currencies of the countries in which we operated during the respective period.

Current wording

We recorded net foreign currency exchange gains of $3.3 million and $11.5 million for thethree and nine months ended September 30, 2026, compared to net foreign currency exchange gain and loss of $0.1 million and $23.7 million for the same periods in 2025. These realized and unrealized foreign currency exchange results reflect the fluctuation in the value of the U.S. dollar against the currencies of the countries in which we operated during the respective period.

Previous wording

The Company's effective income tax rate was 37.6% and 39.7% for the three and six months ended June 30, 2026, compared to 25.6% and 23.0% for the same period ended June 30, 2025. The Company's effective income tax rate for the three months ended June 30, 2026 was higher than the applicable statutory income tax rate of 21% as a result of certain foreign earnings being subject to higher local statutory tax rates and our U.S. deferred tax activity. The Company's effective income tax rate for the three and six months ended June 30, 2025 was higher than the applicable statutory income tax rate of 21% as a result of certain of its foreign earnings being subject to higher local statutory tax rates.

Current wording

The Company's effective income tax rate was 28.7% and 34.7% for the three and nine months ended September 30, 2026, compared to 30.6% and 26.8% for the same period ended September 30, 2025. The Company's effective income tax rate for the three months ended September 30, 2026 was higher than the applicable statutory income tax rate of 21% as a result of certain foreign earnings being subject to higher local statutory tax rates and our U.S. deferred tax activity. The Company's effective income tax rate for the three and nine months ended September 30, 2025 was higher than the applicable statutory income tax rate of 21% as a result of certain of its foreign earnings being subject to higher local statutory tax rates.

Previous wording

Net income attributable to Euronet was $77.4 million for thethree months ended June 30, 2026, a decrease of $20.2 million or 21% compared to the same period in 2025. The decrease in net income was primarily attributable to a $13.1 million increase in income tax expense and a $21.5 million decrease in operating income, partially offset by a $7.6 million decrease in interest expense, a $5.5 million improvement in foreign currency exchange results due to the weakening of the U.S. dollar compared to our other reporting currencies, and a $2.8 million gain related to the revaluation of an investment.

Current wording

Net income attributable to Euronet was $113.6 million for thethree months ended September 30, 2026, a decrease of $8.4 million or 7% compared to the same period in 2025. The decrease in net income was primarily attributable to a $23.4 million decrease in operating income, partially offset by a $9.4 million decrease in income tax expense.