Digital Media Net - Your Gateway To Digital media Creation. News and information on Digital Video, VR, Animation, Visual Effects, Mac Based media. Post Production, CAD, Sound and Music
Categories: News

EVERTEC Reports Third Quarter 2022 Results 

SAN JUAN, Puerto Rico–(BUSINESS WIRE)–EVERTEC, Inc. (NYSE: EVTC) (“Evertec” or the “Company”) today announced results for the third quarter ended September 30, 2022.

Third Quarter 2022 and Recent Highlights

  • Closed Popular Transaction with expected impacts on revenue and margins
  • Revenue remained relatively flat at $145.8 million
  • GAAP Net Income attributable to common shareholders was $137.8 million or $2.06 per diluted share
  • Adjusted EBITDA decreased 25% to $52.4 million; excluding the impact from FX remeasurement Adjusted EBITDA would have been $60.2 million, a decrease of 14%
  • Adjusted earnings per common share was $0.40, a decrease of 35%; excluding the impact from FX remeasurement Adjusted earnings per common share would have been $0.53, a decrease of 15%
  • Share repurchases in the quarter totaled $37.3 million

Mac Schuessler, President and Chief Executive Officer stated, “Our businesses performed well in the quarter, despite the negative impact from FX and Hurricane Fiona. We are pleased to announce the expansion of our relationship with Mercado Libre into Chile, and that we have signed an agreement for our Placetopay platform with Grupo Aval, one of the largest banking groups in Colombia.”

Third Quarter 2022 Results

Revenue. Total revenue for the quarter ended September 30, 2022 was $145.8 million, relatively flat when compared with the prior year. Revenue in Puerto Rico was negatively impacted by the $6.9 million one-time credit granted upon closing of the Popular transaction and the impact from Hurricane Fiona to our Merchant Acquiring segment. These negative effects were offset by the continued growth in our digital solutions, ATH Movil, increased transaction volumes, and revenue generated from the small acquisition we completed in the second quarter. Latin America revenue reflected organic growth and benefited from the revenue contribution from the BBR acquisition completed at the beginning of the quarter.

Net Income attributable to common shareholders. For the quarter ended September 30, 2022, GAAP Net Income attributable to common shareholders was $137.8 million, or $2.06 per diluted share, and includes the impact of the $135.6 million gain recognized from the Popular transaction. The results also reflect the negative impact from foreign currency remeasurement of $7.8 million for assets and liabilities denominated in US dollars in our foreign subsidiaries. Additionally, cost of sales increased mainly driven by the revenue sharing agreement with Popular and costs related to certain hardware sales completed in the quarter. Operating costs increased primarily due to professional fees, personnel costs, printing supplies and cloud services.

Adjusted EBITDA. For the quarter ended September 30, 2022, Adjusted EBITDA was $52.4 million, a decrease of 25% compared to the prior year and excludes the impact of the $135.6 million gain from the Popular transaction. Adjusted EBITDA margin (Adjusted EBITDA as a percentage of total revenues) was 35.9%, a decrease of approximately 12 percentage points from the prior year. The year over year decrease in Adjusted EBITDA and margin primarily reflect the negative impact from foreign currency remeasurement and the increased expenses discussed above, as well as the impact from the one-time credit to Popular.

Adjusted Net Income. For the quarter ended September 30, 2022, Adjusted Net Income was $27.1 million, a decrease of 40% compared with $45.0 million in the prior year. Adjusted earnings per common share was $0.40, a decrease of 35% compared to $0.62 in the prior year. The decrease was driven by the lower Adjusted EBITDA and a higher adjusted tax rate in the quarter, which was also impacted by the $7.8 million foreign currency remeasurement effect.

Share Repurchase

During the three months ended September 30, 2022, the Company repurchased 1,190,379 shares of its common stock at an average price of 31.35 per share for a total of $37.3 million. As of September 30, 2022, a total of approximately $102 million remained available for future use under the Company’s share repurchase program. In addition, in connection with the close of the Popular transaction, the Company received 4,589,160 shares of its own common stock.

2022 Outlook

The Company’s financial outlook for 2022 is as follows:

  • Total consolidated revenue continues to be anticipated between $607 million and $615 million.
  • Adjusted earnings per common share is now expected to be between $2.36 to $2.47 representing a decline of 14% to 10% as compared to $2.74 in 2021.
  • Capital expenditures continue to be expected at approximately $60 million.
  • Effective tax rate is now anticipated between 17% and 18%, compared to 14% to 15% previously estimated.

Earnings Conference Call and Audio Webcast

The Company will host a conference call to discuss its third quarter 2022 financial results today at 4:30 p.m. ET. Hosting the call will be Mac Schuessler, President and Chief Executive Officer, and Joaquin Castrillo, Chief Financial Officer. The conference call can be accessed live over the phone by dialing (888) 338-7153 or for international callers by dialing (412) 317-5117. A replay will be available one hour after the end of the conference call and can be accessed by dialing (877) 344-7529 or (412) 317-0088 for international callers; the pin number is 1955102. The replay will be available through Wednesday, November 9, 2022. The call will be webcast live from the Company’s website at www.evertecinc.com under the Investor Relations section or directly at http://ir.evertecinc.com. A supplemental slide presentation that accompanies this call and webcast can be found on the investor relations website at ir.evertecinc.com and will remain available after the call.

About Evertec

EVERTEC, Inc. (NYSE: EVTC) is a leading full-service transaction processing business in Puerto Rico, the Caribbean and Latin America, providing a broad range of merchant acquiring, payment services and business process management services. Evertec owns and operates the ATH® network, one of the leading personal identification number (“PIN”) debit networks in Latin America. In addition, the Company manages a system of electronic payment networks and offers a comprehensive suite of services for core banking, cash processing and fulfillment in Puerto Rico, that process over three billion transactions annually. The Company also offers technology outsourcing in all the regions it serves. Based in Puerto Rico, the Company operates in 26 Latin American countries and serves a diversified customer base of leading financial institutions, merchants, corporations and government agencies with “mission-critical” technology solutions. For more information, visit www.evertecinc.com.

Use of Non-GAAP Financial Information

The non-GAAP measures referenced in this release material are supplemental measures of the Company’s performance and are not required by, or presented in accordance with, accounting principles generally accepted in the United States of America (“GAAP”). They are not measurements of the Company’s financial performance under GAAP and should not be considered as alternatives to total revenue, net income or any other performance measures derived in accordance with GAAP or as alternatives to cash flows from operating activities, as indicators of operating performance or as measures of the Company’s liquidity. In addition to GAAP measures, management uses these non-GAAP measures to focus on the factors the Company believes are pertinent to the daily management of the Company’s operations and believes that they are also frequently used by analysts, investors and other interested parties to evaluate companies in the industry. Reconciliations of the non-GAAP measures to the most directly comparable GAAP measure are included in the schedules to this release. These non-GAAP measures include EBITDA, Adjusted EBITDA, Adjusted Net Income and Adjusted Earnings per common share and are defined below.

EBITDA is defined as earnings before interest, taxes, depreciation and amortization.

Adjusted EBITDA is defined as EBITDA further adjusted to exclude unusual items and other adjustments. This measure is reported to the chief operating decision maker for purposes of making decisions about allocating resources to the segments and assessing their performance. For this reason, Adjusted EBITDA, as it relates to the Company’s segments, is presented in conformity with Accounting Standards Codification 280, Segment Reporting, and is excluded from the definition of non-GAAP financial measures under the Securities and Exchange Commission’s Regulation G and Item 10(e) of Regulation S-K. The Company’s presentation of Adjusted EBITDA is substantially consistent with the equivalent measurements that are contained in the secured credit facilities in testing EVERTEC Group’s compliance with covenants therein such as the secured leverage ratio.

Adjusted Net Income is defined as net income adjusted to exclude unusual items and other adjustments.

Adjusted Earnings per common share is defined as Adjusted Net Income divided by diluted shares outstanding.

The Company uses Adjusted Net Income to measure the Company’s overall profitability because the Company believes it better reflects the comparable operating performance by excluding the impact of the non-cash amortization and depreciation that was created as a result of merger and acquisition activity. In addition, in evaluating EBITDA, Adjusted EBITDA, Adjusted Net Income and Adjusted Earnings per common share, you should be aware that in the future the Company may incur expenses such as those excluded in calculating them. Further, the Company’s presentation of these measures should not be construed as an inference that the Company’s future operating results will not be affected by unusual or nonrecurring items.

Forward-Looking Statements

Certain statements in this press release constitute “forward-looking statements” within the meaning of, and subject to the protection of, the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance or achievements of EVERTEC to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded by, followed by, or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” and “plans” and similar expressions of future or conditional verbs such as “will,” “should,” “would,” “may,” and “could” are generally forward-looking in nature and not historical facts. Any statements that refer to expectations or other characterizations of future events, circumstances or results are forward-looking statements.

Various factors that could cause actual future results and other future events to differ materially from those estimated by management include, but are not limited to: the Company’s reliance on its relationship with Popular, Inc. (“Popular”) for a significant portion of its revenues pursuant to the Company’s second amended and restated Master Services Agreement (“MSA”) with them, and to grow the Company’s merchant acquiring business; as a regulated institution, the likelihood that the Company will be required to obtain regulatory approval before engaging in certain new activities or businesses, whether organically or by acquisition, and its potential inability to obtain such approval on a timely basis or at all, which may make transactions more expensive or impossible to complete, or make us less attractive to potential sellers; the Company’s ability to renew its client contracts on terms favorable to the Company, including, but not limited to, the current term and any extension of the MSA with Popular; the Company’s dependence on its processing systems, technology infrastructure, security systems and fraudulent payment detection systems, as well as on the Company’s personnel and certain third parties with whom it does business, and the risks to the Company’s business if its systems are hacked or otherwise compromised; the Company’s ability to develop, install and adopt new software, technology and computing systems; a decreased client base due to consolidations and failures in the financial services industry; the credit risk of the Company’s merchant clients, for which it may also be liable; the continuing market position of the ATH network; a reduction in consumer confidence, whether as a result of a global economic downturn or otherwise, which leads to a decrease in consumer spending; the Company’s dependence on credit card associations, including any adverse changes in credit card association or network rules or fees; changes in the regulatory environment and changes macroeconomic, market, in international, legal, tax, political, or administrative conditions, including inflation or the risk of recession; the geographical concentration of the Company’s business in Puerto Rico, including its business with the government of Puerto Rico and its instrumentalities, which are facing severe political and fiscal challenges; additional adverse changes in the general economic conditions in Puerto Rico, whether as a result of the government’s debt crisis or otherwise, including the continued migration of Puerto Ricans to the U.S. mainland, which could negatively affect the Company’s customer base, general consumer spending, the Company’s cost of operations and the Company’s ability to hire and retain qualified employees; operating an international business in Latin America and the Caribbean, in jurisdictions with potential political and economic instability; the Company’s ability to protect its intellectual property rights against infringement and to defend itself against claims of infringement brought by third parties; the Company’s ability to comply with U.S. federal, state, local and foreign regulatory requirements; evolving industry standards and adverse changes in global economic, political and other conditions; the Company’s level of indebtedness and the impact of rising interest rates, and restrictions contained in the Company’s debt agreements, including the secured credit facilities, as well as debt that could be incurred in the future; the Company’s ability to prevent a cybersecurity attack or breach to its information security; the possibility that the Company could lose its preferential tax rate in Puerto Rico; the possibility of future catastrophic hurricanes, earthquakes and other potential natural disasters affecting the Company’s main markets in Latin America and the Caribbean; and uncertainty related to the effect of the discontinuation of the London Interbank Offered Rate at the end of 2021.

Consideration should be given to the areas of risk described above, as well as those risks set forth under the headings “Forward-Looking Statements” and “Risk Factors” in the reports we file with the SEC from time to time, in connection with considering any forward-looking statements that may be made by us and our businesses generally. We undertake no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events unless we are required to do so by law.

EVERTEC, Inc.

Schedule 1: Unaudited Condensed Consolidated Statements of Income and Comprehensive Income

 

 

 

Three months ended September 30,

 

Nine months ended September 30,

 

 

2022

 

2021

 

2022

 

2021

(Dollar amounts in thousands, except share data)

 

 

 

 

 

 

 

 

Revenues

 

$

145,803

 

 

$

145,883

 

 

$

456,622

 

 

$

434,559

 

 

 

 

 

 

 

 

 

 

Operating costs and expenses

 

 

 

 

 

 

 

 

Cost of revenues, exclusive of depreciation and amortization

 

 

76,272

 

 

 

62,995

 

 

 

215,244

 

 

 

182,180

 

Selling, general and administrative expenses

 

 

26,001

 

 

 

17,126

 

 

 

66,436

 

 

 

49,980

 

Depreciation and amortization

 

 

19,712

 

 

 

18,745

 

 

 

58,432

 

 

 

56,091

 

Total operating costs and expenses

 

 

121,985

 

 

 

98,866

 

 

 

340,112

 

 

 

288,251

 

Income from operations

 

 

23,818

 

 

 

47,017

 

 

 

116,510

 

 

 

146,308

 

Non-operating income (expenses)

 

 

 

 

 

 

 

 

Interest income

 

 

807

 

 

 

504

 

 

 

2,279

 

 

 

1,343

 

Interest expense

 

 

(6,763

)

 

 

(5,684

)

 

 

(18,242

)

 

 

(17,248

)

Earnings of equity method investment

 

 

688

 

 

 

411

 

 

 

2,120

 

 

 

1,307

 

(Loss) gain on foreign currency remeasurement

 

 

(7,779

)

 

 

(304

)

 

 

(6,858

)

 

 

652

 

Gain on sale of a business

 

 

135,642

 

 

 

 

 

 

135,642

 

 

 

 

Other income (expenses)

 

 

374

 

 

 

450

 

 

 

1,621

 

 

 

2,067

 

Total non-operating income (expenses)

 

 

122,969

 

 

 

(4,623

)

 

 

116,562

 

 

 

(11,879

)

Income before income taxes

 

 

146,787

 

 

 

42,394

 

 

 

233,072

 

 

 

134,429

 

Income tax expense

 

 

9,048

 

 

 

7,134

 

 

 

22,911

 

 

 

14,474

 

Net income

 

 

137,739

 

 

 

35,260

 

 

 

210,161

 

 

 

119,955

 

Less: Net loss attributable to non-controlling interest

 

 

(75

)

 

 

(54

)

 

 

(140

)

 

 

(59

)

Net income attributable to EVERTEC, Inc.’s common stockholders

 

 

137,814

 

 

 

35,314

 

 

 

210,301

 

 

 

120,014

 

Other comprehensive (loss) income, net of tax

 

 

 

 

 

 

 

 

Foreign currency translation adjustments

 

 

4,125

 

 

 

(6,942

)

 

 

(210

)

 

 

(7,823

)

Gain on cash flow hedges

 

 

5,762

 

 

 

1,537

 

 

 

18,824

 

 

 

6,814

 

Unrealized (loss) gain on change in fair value of debt securities available-for-sale

 

 

(21

)

 

 

8

 

 

 

(77

)

 

 

97

 

Total comprehensive income attributable to EVERTEC, Inc.’s common stockholders

 

$

147,680

 

 

$

29,917

 

 

$

228,838

 

 

$

119,102

 

Net income per common share:

 

 

 

 

 

 

 

 

Basic

 

$

2.08

 

 

$

0.49

 

 

$

3.01

 

 

$

1.66

 

Diluted

 

$

2.06

 

 

$

0.48

 

 

$

2.98

 

 

$

1.65

 

Shares used in computing net income per common share:

 

 

 

 

 

 

 

 

Basic

 

 

66,398,547

 

 

 

71,969,856

 

 

 

69,906,483

 

 

 

72,082,082

 

Diluted

 

 

67,045,809

 

 

 

72,876,253

 

 

 

70,588,915

 

 

 

72,817,707

 

EVERTEC, Inc.

Schedule 2: Unaudited Condensed Consolidated Balance Sheets

 

(In thousands)

 

September 30, 2022

 

December 31, 2021

Assets

 

 

 

 

Current Assets:

 

 

 

 

Cash and cash equivalents

 

$

224,971

 

 

$

266,351

 

Restricted cash

 

 

18,705

 

 

 

19,566

 

Accounts receivable, net

 

 

112,293

 

 

 

113,285

 

Prepaid expenses and other assets

 

 

40,992

 

 

 

37,148

 

Total current assets

 

 

396,961

 

 

 

436,350

 

Debt securities available-for-sale, at fair value

 

 

2,198

 

 

 

3,041

 

Investment in equity investee

 

 

14,071

 

 

 

12,054

 

Property and equipment, net

 

 

49,928

 

 

 

48,533

 

Operating lease right-of-use asset

 

 

17,799

 

 

 

21,229

 

Goodwill

 

 

417,819

 

 

 

393,318

 

Other intangible assets, net

 

 

196,316

 

 

 

213,288

 

Deferred tax asset

 

 

5,414

 

 

 

6,910

 

Net investment in leases

 

 

14

 

 

 

107

 

Derivative asset

 

 

7,070

 

 

 

 

Other long-term assets

 

 

13,378

 

 

 

9,926

 

Total assets

 

$

1,120,968

 

 

$

1,144,756

 

Liabilities and stockholders’ equity

 

 

 

 

Current Liabilities:

 

 

 

 

Accrued liabilities

 

$

82,798

 

 

$

74,540

 

Accounts payable

 

 

33,489

 

 

 

28,484

 

Contract liability

 

 

17,051

 

 

 

17,398

 

Income tax payable

 

 

10,757

 

 

 

7,132

 

Current portion of long-term debt

 

 

28,813

 

 

 

19,750

 

Current portion of operating lease liability

 

 

6,007

 

 

 

5,580

 

Total current liabilities

 

 

178,915

 

 

 

152,884

 

Long-term debt

 

 

426,691

 

 

 

444,785

 

Deferred tax liability

 

 

7,998

 

 

 

2,369

 

Contract liability – long term

 

 

34,726

 

 

 

36,258

 

Operating lease liability – long-term

 

 

13,320

 

 

 

16,456

 

Derivative liability

 

 

 

 

 

13,392

 

Other long-term liabilities

 

 

4,063

 

 

 

8,344

 

Total liabilities

 

 

665,713

 

 

 

674,488

 

Stockholders’ equity

 

 

 

 

Preferred stock, par value $0.01; 2,000,000 shares authorized; none issued

 

 

 

 

 

 

Common stock, par value $0.01; 206,000,000 shares authorized; 65,588,270 shares issued and outstanding as of September 30, 2022 (December 31, 2021 – 71,969,856)

 

 

655

 

 

 

719

 

Additional paid-in capital

 

 

 

 

 

7,565

 

Accumulated earnings

 

 

480,740

 

 

 

506,051

 

Accumulated other comprehensive loss, net of tax

 

 

(29,586

)

 

 

(48,123

)

Total EVERTEC, Inc. stockholders’ equity

 

 

451,809

 

 

 

466,212

 

Non-controlling interest

 

 

3,446

 

 

 

4,056

 

Total equity

 

 

455,255

 

 

 

470,268

 

Total liabilities and equity

 

$

1,120,968

 

 

$

1,144,756

 

EVERTEC, Inc.

Schedule 3: Unaudited Condensed Consolidated Statements of Cash Flows

 

 

 

Nine months ended September 30,

 

 

2022

 

2021

Cash flows from operating activities

 

 

 

 

Net income

 

$

210,161

 

 

$

119,955

 

Adjustments to reconcile net income to net cash provided by operating activities:

 

 

 

 

Depreciation and amortization

 

 

58,432

 

 

 

56,091

 

Amortization of debt issue costs and accretion of discount

 

 

1,187

 

 

 

1,423

 

Operating lease amortization

 

 

4,576

 

 

 

4,443

 

Provision for expected credit losses and sundry losses

 

 

3,363

 

 

 

1,428

 

Deferred tax benefit

 

 

(1,699

)

 

 

(1,119

)

Share-based compensation

 

 

14,740

 

 

 

10,943

 

Gain on sale of a business

 

 

(135,642

)

 

 

 

Gain from sale of assets

 

 

 

 

 

(778

)

Loss on disposition of property and equipment and impairment of software

 

 

4,691

 

 

 

1,168

 

Earnings of equity method investment

 

 

(2,120

)

 

 

(1,307

)

Dividend received from equity method investment

 

 

2,053

 

 

 

1,183

 

Loss (gain) on valuation of foreign currency

 

 

6,858

 

 

 

(652

)

(Increase) decrease in assets:

 

 

 

 

Accounts receivable, net

 

 

3,503

 

 

 

(593

)

Prepaid expenses and other assets

 

 

(3,417

)

 

 

(3,070

)

Other long-term assets

 

 

(4,389

)

 

 

(339

)

Increase (decrease) in liabilities:

 

 

 

 

Accrued liabilities and accounts payable

 

 

468

 

 

 

(773

)

Income tax payable

 

 

2,921

 

 

 

(2,685

)

Contract liability

 

 

1,344

 

 

 

(2,654

)

Operating lease liabilities

 

 

(4,450

)

 

 

(4,107

)

Other long-term liabilities

 

 

(3,571

)

 

 

(2,702

)

Total adjustments

 

 

(51,152

)

 

 

55,900

 

Net cash provided by operating activities

 

 

159,009

 

 

 

175,855

 

Cash flows from investing activities

 

 

 

 

Additions to software

 

 

(28,287

)

 

 

(31,004

)

Acquisition of customer relationships

 

 

(10,607

)

 

 

(14,750

)

Acquisitions, net of cash acquired

 

 

(44,369

)

 

 

 

Property and equipment acquired

 

 

(16,313

)

 

 

(12,388

)

Proceeds from sales of property and equipment

 

 

77

 

 

 

805

 

Purchase of certificates of deposit

 

 

(7,264

)

 

 

 

Proceeds from maturities of available-for-sale debt securities

 

 

1,015

 

 

 

 

Acquisition of available-for-sale debt securities

 

 

(254

)

 

 

(2,968

)

Net cash used in investing activities

 

 

(106,002

)

 

 

(60,305

)

Cash flows from financing activities

 

 

 

 

Statutory withholding taxes paid on share-based compensation

 

 

(5,685

)

 

 

(8,793

)

Repayment of short-term borrowings for purchase of equipment and software

 

 

(901

)

 

 

(1,603

)

Dividends paid

 

 

(10,515

)

 

 

(10,811

)

Repurchase of common stock

 

 

(72,532

)

 

 

(24,388

)

Repayment of long-term debt

 

 

(9,875

)

 

 

(28,482

)

Net cash used in financing activities

 

 

(99,508

)

 

 

(74,077

)

Effect of foreign exchange rate on cash, cash equivalents and restricted cash

 

 

4,260

 

 

 

215

 

Net (decrease) increase in cash, cash equivalents and restricted cash

 

 

(42,241

)

 

 

41,688

 

Cash, cash equivalents and restricted cash at beginning of the period

 

 

285,917

 

 

 

221,105

 

Cash, cash equivalents and restricted cash at end of the period

 

$

243,676

 

 

$

262,793

 

Reconciliation of cash, cash equivalents and restricted cash

 

 

 

 

Cash and cash equivalents

 

$

224,971

 

 

$

244,129

 

Restricted cash

 

 

18,705

 

 

 

18,664

 

Cash, cash equivalents and restricted cash

 

$

243,676

 

 

$

262,793

 

EVERTEC, Inc.

Schedule 4: Unaudited Segment Information

 

 

Three months ended September 30, 2022

(In thousands)

Payment

Services –

Puerto Rico &

Caribbean

 

Payment

Services –

Latin America

 

Merchant

Acquiring, net

 

Business

Solutions

 

Corporate and

Other
(1)

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

$

44,592

 

$

33,741

 

 

$

36,911

 

$

49,306

 

 

$

(18,747

)

 

$

145,803

 

Operating costs and expenses

 

26,960

 

 

28,513

 

 

 

25,261

 

 

38,522

 

 

 

2,729

 

 

 

121,985

 

Depreciation and amortization

 

5,116

 

 

4,104

 

 

 

1,045

 

 

3,745

 

 

 

5,702

 

 

 

19,712

 

Non-operating income (expenses)

 

385

 

 

(7,094

)

 

 

348

 

 

136,218

 

 

 

(932

)

 

 

128,925

 

EBITDA

 

23,133

 

 

2,238

 

 

 

13,043

 

 

150,747

 

 

 

(16,706

)

 

 

172,455

 

Compensation and benefits (2)

 

1,557

 

 

972

 

 

 

498

 

 

503

 

 

 

2,141

 

 

 

5,671

 

Transaction, refinancing and other fees (3)

 

330

 

 

 

 

 

325

 

 

(134,974

)

 

 

8,567

 

 

 

(125,752

)

Adjusted EBITDA

$

25,020

 

$

3,210

 

 

$

13,866

 

$

16,276

 

 

$

(5,998

)

 

$

52,374

 

Contacts

Investor Contact
Beatriz Brown-Sáenz

(787) 773-5442

IR@evertecinc.com

Read full story here

Staff

Recent Posts

Appy Pie’s No-Code AI Design Platform Simplifies Holiday Creations for Christmas Posters and Avatars

NEW DELHI, Dec. 21, 2024 /PRNewswire/ -- Appy Pie Design, a leading No-code AI Design…

1 day ago

Thought Technology Ltd Celebrates 50 Years of Innovation and Excellence

Montreal-based Thought Technology Ltd wraps up its 50th year in business providing psychophysiological instrumentation to…

2 days ago

Gaudio Lab, Winner of CES Innovation Awards for Three Consecutive Years, to Unveil New Solutions at CES 2025

LAS VEGAS and SEOUL, South Korea, Dec. 20, 2024 /PRNewswire/ -- Gaudio Lab, a leader in…

2 days ago

Impossible Creative Unveils Cutting-Edge Immersive Experience at COP16

RIYADH, Saudia Arabia, Dec. 20, 2024 /PRNewswire/ -- Impossible Creative debuted innovative immersive storytelling technology…

2 days ago

Prescott, Arizona’s Jim & Linda Lee Performing Arts Center at Yavapai College Invests in Ayrton Rivale Profile and Karif-LT Fixtures

The Jim & Linda Lee Performing Arts Center, Northern Arizona’s premiere entertainment venue, has installed…

3 days ago

Perfect Corp. at CES 2025 to Highlight B2B Generative AI Innovations for Brands and B2C AI Features for Consumer Creators

Perfect Corp. will showcase AI-powered solutions and discuss the future of personalized consumer experiences at…

3 days ago