Segment Information (Tables)

12 Months Ended

Dec. 31, 2025

Summary of Operations by Business Segments

The following tables set forth information about the Company’s operations by its four reportable segments for the periods indicated:


	December 31, 2025
(In thousands)	Payment Services - Puerto Rico & Caribbean		Latin America Payments and Solutions		Merchant Acquiring, net		Business Solutions		Total Reportable Segments

Total revenues	$	148,922	$	342,898	$	189,913	$	250,085	$	931,818
Intersegment revenues	74,344		26,569		—		—		100,913


Total segment revenues(1)	223,266		369,467		189,913		250,085		1,032,731

Less: Other segment items(2)	(98,590)		(261,853)		(111,545)		(156,149)		(628,137)



Segment Adjusted EBITDA	$	124,676	$	107,614	$	78,368	$	93,936	$	404,594

(1)Total segment revenues include intersegment revenues eliminated on a consolidated basis. Intersegment revenue eliminations predominantly reflect the $59.9 million processing fee from Payments Services - Puerto Rico & Caribbean to Merchant Acquiring, intercompany software developments and transaction processing of $26.6 million from Latin America Payments and Solutions to Payment Services-Puerto Rico & Caribbean and Business Solutions, and transaction processing and monitoring fees of $14.5 million from Payment Services - Puerto Rico & Caribbean to Latin America Payments and Solutions.

(2)For each reportable segment, other segment items category includes: cost of revenues and selling, general and administrative expenses, exclusive of depreciation and amortization. These amounts are adjusted to exclude certain items such as: share-based compensation costs, severance payments, equity investment income net of dividends received, foreign currency remeasurement for assets and liabilities in non-functional currency, and expenses from corporate transactions as defined in the Credit Agreement to determine Segment Adjusted EBITDA.


	December 31, 2024
(In thousands)	Payment Services - Puerto Rico & Caribbean		Latin America Payments and Solutions		Merchant Acquiring, net		Business Solutions		Total Reportable Segments

Total revenues	$	139,343	$	281,668	$	180,500	$	243,975	$	845,486
Intersegment revenues	75,406		21,116		—		—		96,522


Total segment revenues(1)	214,749		302,784		180,500		243,975		942,008

Less: Other segment items(2)	(93,359)		(223,103)		(107,868)		(141,306)		(565,636)



Segment Adjusted EBITDA	$	121,390	$	79,681	$	72,632	$	102,669	$	376,372

(1)Total segment revenues include intersegment revenues eliminated on a consolidated basis. Intersegment revenue eliminations predominantly reflect the $57.6 million processing fee from Payments Services - Puerto Rico & Caribbean to Merchant Acquiring, intercompany software developments and transaction processing of $21.1 million from Latin America Payments and Solutions to Payment Services-Puerto Rico & Caribbean and Business Solutions, and transaction processing and monitoring fees of $17.8 million from Payment Services - Puerto Rico & Caribbean to Latin America Payments and Solutions.


	December 31, 2023
(In thousands)	Payment Services - Puerto Rico & Caribbean		Latin America Payments and Solutions		Merchant Acquiring, net		Business Solutions		Total Reportable Segments

Total revenues	$	135,973	$	169,410	$	162,366	$	226,960	$	694,709
Intersegment revenues	67,259		17,093		—		—		84,352


Total segment revenues(1)	203,232		186,503		162,366		226,960		779,061

Less: Other segment items(2)	(84,966)		(126,345)		(101,374)		(140,080)		(452,765)



Segment Adjusted EBITDA	$	118,266	$	60,158	$	60,992	$	86,880	$	326,296

(1)Total segment revenues include intersegment revenues eliminated on a consolidated basis. Intersegment revenue eliminations predominantly reflect the $52.9 million processing fee from Payments Services - Puerto Rico & Caribbean to Merchant Acquiring, intercompany software developments and transaction processing of $17.1 million from Latin America Payments and Solutions to Payment Services-Puerto Rico & Caribbean and Business Solutions, and transaction processing and monitoring fees of $14.3 million from Payment Services - Puerto Rico & Caribbean to Latin America Payments and Solutions.

Reconciliation of Income from Operations to Consolidated Net Income

The reconciliation of Segment Adjusted EBITDA to consolidated income before income taxes is as follows:


	Years ended December 31,
(In thousands)	2025		2024		2023

Segment Adjusted EBITDA	$	404,594	$	376,372	$	326,296
Elimination of intersegment revenues	(100,913)		(96,522)		(84,352)
Other corporate expenses(1)	69,702		60,378		50,027
Compensation and benefits(2)	(36,033)		(31,644)		(29,312)
Transaction, refinancing and other fees(3)	(9,858)		4,217		(53,545)
Earnings from equity investees, net of dividends received	1,620		1,270		1,945
Gain (loss) on foreign currency remeasurement(4)	592		(5,198)		(8,276)
Interest income	15,035		13,332		8,512
Interest expense	(68,278)		(74,733)		(32,321)
Depreciation and amortization	(122,086)		(127,846)		(93,621)
Income before income taxes	$	154,375	$	119,626	$	85,353

(1)The other corporate expenses category consists of corporate overhead expenses and other non-operating expenses that are not included in the reportable segment, as well as intersegment eliminations.

(2)Primarily represents share-based compensation and severance payments.

(3)Primarily represents fees and expenses associated with corporate transactions as defined in the Credit Agreement and the elimination of unrealized earnings from equity investments, net of dividends received and multi-year non recurring gains recognized in connection with the sale of tax credits..

(4)Represents non-cash unrealized gains (losses) on foreign currency remeasurement for assets and liabilities denominated in non-functional currencies.

Segment Information by Geographic Location

The geographic information below is classified based on the geographic location of the Company’s subsidiaries:


	Years ended December 31,
(In thousands)	2025		2024		2023
Revenues (1)
Puerto Rico	$	567,682	$	543,568	$	505,246
Caribbean	21,238		20,250		20,053
Latin America	342,898		281,668		169,410
Total Revenues	$	931,818	$	845,486	$	694,709

(1)Revenues are based on subsidiaries’ country of domicile.

Long-Lived Assets by Geographic Areas

Long-lived assets, excluding goodwill and other intangible assets, by location as of December 31, 2025 and 2024 were as follows:


	Years ended December 31,
(In thousands)	2025		2024
Puerto Rico	$	44,294	$	44,563





Latin America	20,060		17,496





Total Property and equipment, net	$	64,354	$	62,059

EVERTEC, Inc. 10-K