EURONET WORLDWIDE, INC. Files 10-Q for Q1 2024

TL;DR

<b>EURONET WORLDWIDE, INC. filed its Q1 2024 10-Q, detailing financial performance and segment data.</b>

AI Summary

EURONET WORLDWIDE, INC. (EEFT) filed a Quarterly Report (10-Q) with the SEC on May 6, 2024. EURONET WORLDWIDE, INC. filed its 10-Q report for the period ending March 31, 2024. The filing includes financial data for the first quarter of 2024. Key balance sheet items such as Noncontrolling Interest, Accumulated Other Comprehensive Income, Retained Earnings, Treasury Stock, Additional Paid-In Capital, and Common Stock are detailed as of March 31, 2024, and December 31, 2023. Information regarding Senior Notes 1.375% Due 2026 is provided as of March 31, 2024. Segment information for Epay, EFT Processing, and Money Transfer is presented for March 31, 2024, with comparative data for Q1 2023 across various geographic locations including Asia Pacific.

Why It Matters

For investors and stakeholders tracking EURONET WORLDWIDE, INC., this filing contains several important signals. The 10-Q filing provides a detailed look at EURONET WORLDWIDE, INC.'s financial position and segment performance for the first quarter of 2024, offering insights into its operational health and strategic focus. Comparative data across segments and geographic regions for Q1 2023 and Q1 2024 allows for trend analysis and evaluation of growth drivers within the company's diverse business units.

Risk Assessment

Risk Level: low — EURONET WORLDWIDE, INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant negative developments.

Analyst Insight

Review the segment performance data for Epay, EFT Processing, and Money Transfer to identify any significant shifts or trends compared to the previous year.

Revenue Breakdown

Key Numbers

• 2024-03-31 — Period End Date (Current reporting period)
• 2023-12-31 — Prior Period End Date (Previous year-end balance sheet date)
• 2023-01-01 to 2023-03-31 — Prior Year Q1 Period (Comparative period for segment data)

Key Players & Entities

• EURONET WORLDWIDE, INC. (company) — Filer name
• 2024-03-31 (date) — Period of report
• 2024-05-06 (date) — Filing date
• 11400 TOMAHAWK CREEK PARKWAY (address) — Business address
• LEAWOOD (location) — Business address city
• KS (location) — Business address state
• 66211 (postal_code) — Business address zip
• EEFT (ticker) — Ticker symbol

FAQ

Key Dates

• 2024-03-31: Quarterly Period End — End of the first quarter of 2024.
• 2024-05-06: Filing Date — Date the 10-Q report was filed with the SEC.

Filing Documents

• eeft-20240331.htm (10-Q) — 1875KB
• ex311_1.htm (EX-31.1) — 14KB
• ex312_2.htm (EX-31.2) — 24KB
• ex321_3.htm (EX-32.1) — 7KB
• ex322_4.htm (EX-32.2) — 7KB
• 0001213900-24-039798.txt (&nbsp;) — 8739KB
• eeft-20240331_def.xml (EX-101.DEF) — 284KB
• eeft-20240331_pre.xml (EX-101.PRE) — 479KB
• eeft-20240331_cal.xml (EX-101.CAL) — 121KB
• eeft-20240331_lab.xml (EX-101.LAB) — 879KB
• eeft-20240331.xsd (EX-101.SCH) — 53KB
• eeft-20240331_htm.xml (XML) — 1356KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION Item 1.

Financial Statements (unaudited)

Financial Statements (unaudited) 1 Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 1 Consolidated Statements of Operations for the Three Months Ended March 31, 2024 and 2023 2 Consolidated Statements of Comprehensive Income (loss) for the Three Months Ended March 31, 2024 and 2023 3 Consolidated Statements of Changes in Equity for the Three Months Ended March 31, 2024 and 2023 4 Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 5 Notes to the Unaudited Consolidated Financial Statements 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 38 Item 4.

Controls and Procedures

Controls and Procedures 39

—OTHER INFORMATION

PART II—OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 39 Item 1A.

Risk Factors

Risk Factors 40 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 40 Item 5 Other Information 40 Item 6. Exhibits 41

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

. FINANCIAL STATEMENTS (UNAUDITED)

ITEM 1 . FINANCIAL STATEMENTS (UNAUDITED) EURONET WORLDWIDE, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In millions, except share and per share data) As of March 31, 2024 December 31, 2023 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 1,236.2 $ 1,254.2 ATM cash 599.7 525.2 Rest ricted cas h 15.8 15.2 Settlement assets 1,413.5 1,681.5 Trade accounts receivable, net of credit losses of $ 3.5 and $ 3.6 407.6 370.6 Prepaid expenses and other current assets 254.9 316.0 Total current assets 3,927.7 4,162.7 Operating right of use lease assets 143.9 142.6 Property and equipment, net of accumulated depreciation of $ 671.2 and $ 656.9 324.5 332.1 Goodwill 848.8 847.5 Acquired intangible assets, net of accumulated amortization of $ 214.8 and $ 214.1 208.9 167.6 Other assets, net of accumulated amortization of $ 77.6 and $ 76.3 179.3 181.9 Convertible notes receivable 60.5 60.0 Total assets $ 5,693.6 $ 5,894.4 LIABILITIES AND EQUITY Current liabilities: Settlement obligations $ 1,413.5 $ 1,681.5 Trade accounts payable 280.1 241.2 Accrued expenses and other current liabilities 402.3 439.0 Current portion of operating lease liabilities 50.3 50.3 Short-term debt obligations and current maturities of long-term debt obligations 675.2 150.3 Income taxes payable 78.1 81.6 Deferred revenue 57.5 56.7 Total current liabilities 2,957.0 2,700.6 Debt obligations, net of current portion 1,258.8 1,715.4 Operating lease obligations, net of current portion 97.7 95.8 Deferred income taxes 50.7 47.0 Other long-term liabilities 85.8 85.9 Total liabilities 4,450.0 4,644.7 Equity: Euronet Worldwide, Inc. stockholders' equity: Preferred Stock, $ 0.02 par value. 10,000,000 shares authorized; none issued — — Common Stock, $ 0.02 par value. 90,000,000 shares authorized; s

View Full Filing

View this 10-Q filing on SEC EDGAR