Page 1

Euronet . Euronet Worldwide Reports Second Quarter 2021 Financial Results July 28 , 2021 LEAWOOD , Kan . , July 27 , 2021 ( GLOBE NEWSWIRE ) -- Euronet Worldwide , Inc. ( “ Euronet ” or the “ Company ” ) ( NASDAQ : EEFT ) , a leading electronic payments provider , reports second quarter 2021 financial results . Euronet reports the following consolidated results for the second quarter 2021 compared with the same period of 2020 : • Revenues of $ 714.7 million , a 35 % increase from $ 527.8 million ( 28 % increase on a constant currency¹ basis ) . Operating income of $ 30.1 million , compared with an operating loss of $ 101.3 million . • • • Adjusted operating income² of $ 30.1 million , an 812 % increase from $ 3.3 million ( 748 % increase on a constant currency basis ) . Adjusted EBITDA³ of $ 74.7 million , a 104 % increase from $ 36.6 million ( 92 % increase on a constant currency basis ) . • Net income attributable to Euronet of $ 8.6 million or $ 0.16 diluted earnings per share , compared with net loss of • $ 115.8 million or $ 2.18 diluted loss per share . Adjusted earnings per share 4 of $ 0.53 , compared with $ 0.04 . • Euronet's cash and cash equivalents were $ 994.5 million and ATM cash was $ 565.1 million , totaling $ 1,560 million as of June 30 , 2021 , and availability under its revolving credit facilities was approximately $ 950 million . See the reconciliation of non - GAAP items in the attached financial schedules . " I am very pleased that the epay and Money Transfer segments each delivered record second quarter earnings , with both segments posting double - digit earnings growth for the fourth consecutive quarter , " stated Michael J. Brown , Euronet's Chairman and CEO . " Our industry leading technology , expansive physical networks and continued investment in growing our digital channel presence continue to produce strong growth trends in both segments - including strong double - digit digital transaction growth rates of 74 % and 51 % year - over - year in Money Transfer and epay , respectively . I am also happy to see improving transaction trends in EFT as more countries have opened their borders and eased quarantine restrictions . " The stronger than expected second quarter revenue growth rate was largely the result of continued strength in year - over - year growth trends in the Money Transfer segment as the Company's physical and digital networks continue to expand . In the EFT Segment , we saw immediate improvement in transactions in the early part of the quarter as borders began to reopen and quarantine restrictions were lifted . However , the pace of these reopening efforts was more irregular than we expected which resulted in fewer higher - value cross - border transactions than we anticipated at the beginning of the quarter resulting in consolidated adjusted EBITDA coming in at the lower end of our expected range . Year - over - year cross - border transaction growth accelerated in mid - June and continued into the beginning of July as certain countries eased quarantine requirements for vaccinated travelers . Taking into consideration current trends in the business , the current COVID - 19 management mandates , trends in more contagious COVID variants , current vaccination rates and approximately 3,700 more active Euronet - owned ATMs than the prior year for this year's peak travel season , the Company anticipates that its third quarter 2021 adjusted EBITDA will be in the range of approximately $ 135 million to $ 145 million . In the second quarter of 2020 , the Company recorded a $ 104.6 million non - cash goodwill impairment charge stemming from the economic impacts of the COVID - 19 pandemic ; the Money Transfer and EFT Segments , recorded goodwill impairment charges of $ 82.7 million and $ 21.9 million in the second quarter 2020 , respectively . In order to provide more comparable operating results , these impairment charges are excluded from second quarter 2020 adjusted operating income , adjusted EBITDA and adjusted EPS . Segment and Other Results The EFT Processing Segment reports the following results for the second quarter 2021 compared with the same period or date in 2020 : • Revenues of $ 113.5 million , a 45 % increase from $ 78.5 million ( 36 % increase on a constant currency basis ) . • Operating loss of $ 25.3 million , a 55 % improvement from an operating loss of $ 56.6 million ( 60 % improvement on a constant currency basis ) . • Adjusted operating loss of $ 25.3 million , a 27 % improvement from an adjusted operating loss of $ 34.7 million ( 35 % improvement on a constant currency basis ) . • Adjusted EBITDA of ( $ 3.1 million ) , a 79 % improvement from ( $ 14.8 million ) ( 86 % improvement on a constant currency basis ) . • Transactions of 988 million , a 46 % increase from 679 million . • Total of 46,246 installed ATMs as of June 30 , 2021 , a 7 % decrease from 49,719 . Operated 43,559 active ATMs as of June 30 , 2021 , a 5 % increase from 41,648 . Revenue , adjusted operating loss , and adjusted EBITDA improvements in the second quarter 2021 were driven by increased transactions resulting