Euronet Worldwide Files Q3 2024 10-Q

TL;DR

Euronet's Q3 10-Q is in: Infinitium Group, buybacks, and loan agreements detailed.

AI Summary

Euronet Worldwide, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates, including information related to its Infinitium Group segment and share repurchase plans. The company also disclosed details about its Uncommitted Loan Agreement, entered into on June 21, 2024.

Why It Matters

This filing provides investors with an update on Euronet Worldwide's financial health and strategic activities during the third quarter of 2024, impacting investment decisions.

Risk Assessment

Risk Level: medium — The filing contains detailed financial information and disclosures about loan agreements, which could indicate potential financial risks or opportunities for Euronet Worldwide.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Latest financial data available)
• 2023-06-30 — Prior Period Comparison Date (For year-over-year analysis)
• 2024-01-01 to 2024-09-30 — Infinitium Group Period (Specific operational timeframe)
• 2023-09-13 — Share Repurchase Plan Date (Initiation or update of buyback program)
• 2024-06-21 — Uncommitted Loan Agreement Date (Key financing event)

Key Players & Entities

• EURONET WORLDWIDE, INC. (company) — Filer
• 20240930 (date) — Period of Report
• Infinitium Group (company) — Business Segment
• Share Repurchase Plan (financial_activity) — Company Action
• Uncommitted Loan Agreement (financial_instrument) — Financing

FAQ

Filing Documents

• eeft-20240930.htm (10-Q) — 2651KB
• ex311_1.htm (EX-31.1) — 14KB
• ex312_2.htm (EX-31.2) — 21KB
• ex321_3.htm (EX-32.1) — 7KB
• ex322_4.htm (EX-32.2) — 7KB
• 0001213900-24-094099.txt ( ) — 10666KB
• eeft-20240930_def.xml (EX-101.DEF) — 293KB
• eeft-20240930_pre.xml (EX-101.PRE) — 489KB
• eeft-20240930_cal.xml (EX-101.CAL) — 121KB
• eeft-20240930_lab.xml (EX-101.LAB) — 900KB
• eeft-20240930.xsd (EX-101.SCH) — 53KB
• eeft-20240930_htm.xml (XML) — 1890KB

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION Item 1.

Financial Statements (unaudited)

Financial Statements (unaudited) 1 Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 1 Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2024 and 2023 2 Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended September 30, 2024 and 2023 3 Consolidated Statements of Changes in Equity for the Three and Nine Months Ended September 30, 2024 and 2023 4 Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 6 Notes to the Unaudited Consolidated Financial Statements 7 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 24 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 40 Item 4.

Controls and Procedures

Controls and Procedures 41

—OTHER INFORMATION

PART II—OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 42 Item 1A.

Risk Factors

Risk Factors 43 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 43 Item 5 Other Information 43 Item 6. Exhibits 44

—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 September 30, 2024 December 31, 2023 (unaudited) ASSETS Current assets: Cash and cash equivalents $ 1,524.1 $ 1,254.2 ATM cash 805.4 525.2 Rest ricted cas h 18.9 15.2 Settlement assets 1,461.0 1,681.5 Trade accounts receivable, net of credit losses of $ 4.2 and $ 3.6 273.2 370.6 Prepaid expenses and other current assets 303.2 316.0 Total current assets 4,385.8 4,162.7 Operating right of use lease assets 142.9 142.6 Property and equipment, net of accumulated depreciation of $ 608.6 and $ 656.9 340.3 332.1 Goodwill 913.3 847.5 Acquired intangible assets, net of accumulated amortization of $ 237.5 and $ 214.1 205.6 167.6 Other assets, net of accumulated amortization of $ 82.1 and $ 76.3 240.1 181.9 Convertible notes receivable 61.1 60.0 Total assets $ 6,289.1 $ 5,894.4 LIABILITIES AND EQUITY Current liabilities: Settlement obligations $ 1,461.0 $ 1,681.5 Trade accounts payable 265.8 241.2 Accrued expenses and other current liabilities 459.5 439.0 Current portion of operating lease liabilities 51.4 50.3 Short-term debt obligations and current maturities of long-term debt obligations 1,079.8 150.3 Income taxes payable 96.2 81.6 Deferred revenue 57.5 56.7 Total current liabilities 3,471.2 2,700.6 Debt obligations, net of current portion 1,195.5 1,715.4 Operating lease obligations, net of current portion 95.4 95.8 Deferred income taxes 77.6 47.0 Other long-term liabilities 87.4 85.9 Total liabilities 4,927.1 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 authori

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View this 10-Q filing on SEC EDGAR