Page 1

Euronet . Euronet Worldwide Reports First Quarter 2021 Financial Results April 28 , 2021 LEAWOOD , Kan . , April 28 , 2021 ( GLOBE NEWSWIRE ) -- Euronet Worldwide , Inc. ( " Euronet " or the " Company " ) ( NASDAQ : EEFT ) , a leading electronic payments provider , reports first quarter 2021 financial results . Euronet reports the following consolidated results for the first quarter 2021 compared with the same period of 2020 : • Revenues of $ 652.7 million , a 12 % increase from $ 583.9 million ( 7 % increase on a constant currency 1 basis ) . • Operating income of $ 10.4 million , a 67 % decrease from $ 31.6 million ( 70 % decrease on a constant currency basis ) . • Adjusted EBITDA² of $ 52.2 million , a 24 % decrease from $ 68.7 million ( 28 % decrease on a constant currency basis ) . • Net loss attributable to Euronet of ( $ 8.7 million ) or ( $ 0.16 ) diluted loss per share , compared with net income of $ 1.9 million or $ 0.04 diluted earnings per share . • Adjusted earnings per share³ of $ 0.23 , a 58 % decrease from $ 0.55 . • Euronet's cash and cash equivalents were $ 1,145.4 million and ATM cash was $ 339.9 million , totaling $ 1,485.3 million as of March 31 , 2021 , and availability under its revolving credit facilities was approximately $ 940 million . See the reconciliation of non - GAAP items in the attached financial schedules . " I am pleased that both epay and money transfer continued to deliver strong double - digit year - over - year adjusted EBITDA growth for the third consecutive quarter , " stated Michael J. Brown , Euronet's Chairman and CEO . " These strong adjusted EBITDA growth rates were the result of the expansion of our product portfolio distributed through our industry - leading retail - based networks in both segments as well as our leading - edge technology solutions which have allowed us to accelerate our digital expansion . The result of these digital product investments produced transaction growth through digital channels of more than 125 % and more than 80 % in Money Transfer and epay , respectively . " The stronger than expected first quarter revenue growth rate was the result of continued strength in year - over - year growth trends in epay and Money Transfer transactions . Epay continues to see demand for digital media content and strong mobile top - up sales through digital channels , while Money Transfer transactions remained strong as immigrants continue to prioritize sending money home and the Company's physical and digital networks continue to expand . Additionally , in the EFT Segment we saw somewhat of an irregular pattern during the quarter . The quarter started with fewer travel restrictions which resulted in year - over - year cross border transaction growth midway through the quarter as we passed the first anniversary of the beginning of COVID - 19 lockdown restrictions . In the later parts of the quarter , we saw the reestablishment of certain governmentally - inspired restrictions . Accordingly , adjusted EBITDA would have been stronger for the quarter had the reestablished restrictions not been imposed which restricted our more profitable cross border transactions . Despite this most recent round of lockdowns , many European countries have already announced the opening of their borders for both European and non - European tourists in time for the summer travel season . Based on current trends in the business and the current COVID - 19 management mandates , the Company anticipates that its second quarter 2021 adjusted EBITDA will be in the range of approximately $ 75 million to $ 85 million . Segment and Other Results The EFT Processing Segment reports the following results for the first quarter 2021 compared with the same period or date in 2020 : • Revenues of $ 87.1 million , a 40 % decrease from $ 145.8 million ( 43 % decrease on a constant currency basis ) . • Operating loss of $ 40.1 million , a 918 % decrease from operating income of $ 4.9 million ( 851 % decrease on a constant currency basis ) . • Adjusted EBITDA of ( $ 18.1 million ) , a 172 % decrease from $ 25.2 million ( 163 % decrease on a constant currency basis ) . • Transactions of 925 million , an 18 % increase from 785 million . • Total of 45,497 installed ATMs as of March 31 , 2021 , a 10 % decrease from 50,725 . Operated 36,777 active ATMs as of March 31 , 2021 , a 13 % decrease from 42,176 . Revenue , operating income , and adjusted EBITDA declines in the first quarter 2021 were driven by the impact of fewer high - value cross - border