2024 Q2 Form 10-Q Financial Statement

#000155986524000027 Filed on May 02, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $212.0M $205.3M $159.8M
YoY Change 26.88% 28.47% 6.37%
Cost Of Revenue $97.48M $102.4M $76.42M
YoY Change 21.17% 34.06% 18.18%
Gross Profit $114.5M $102.9M $83.40M
YoY Change 32.18% 23.35% -2.56%
Gross Profit Margin 54.01% 50.1% 52.18%
Selling, General & Admin $38.19M $35.63M $23.88M
YoY Change 70.2% 49.22% 17.13%
% of Gross Profit 33.35% 34.63% 28.63%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.400M $5.700M $5.000M
YoY Change -75.82% 14.0% 8.7%
% of Gross Profit 4.72% 5.54% 6.0%
Operating Expenses $38.19M $35.63M $23.88M
YoY Change -14.7% 49.22% 17.13%
Operating Profit $43.36M $32.80M $40.09M
YoY Change 3.59% -18.18% -12.93%
Interest Expense -$11.99M $19.94M $5.643M
YoY Change 593.92% 253.34% 1.73%
% of Operating Profit -27.65% 60.78% 14.08%
Other Income/Expense, Net -$9.736M -$16.12M -$7.209M
YoY Change -711.94% 123.66% 618.03%
Pretax Income $33.62M $16.68M $32.88M
YoY Change -2.92% -49.27% -27.0%
Income Tax $1.101M $292.0K $2.818M
% Of Pretax Income 3.27% 1.75% 8.57%
Net Earnings $31.90M $15.98M $30.05M
YoY Change 13.3% -46.83% -22.74%
Net Earnings / Revenue 15.05% 7.78% 18.8%
Basic Earnings Per Share $0.50 $0.25 $0.46
Diluted Earnings Per Share $0.49 $0.24 $0.46
COMMON SHARES
Basic Shares Outstanding 64.41M shares 65.45M shares 64.99M shares
Diluted Shares Outstanding 65.15M shares 66.34M shares 65.61M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $257.7M $293.7M $173.7M
YoY Change 34.48% 69.1% -38.77%
Cash & Equivalents $257.7M $293.7M $173.7M
Short-Term Investments
Other Short-Term Assets $150.8M $128.0M $66.96M
YoY Change 62.42% 91.16% -21.07%
Inventory
Prepaid Expenses
Receivables $122.3M $141.3M $127.9M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $530.8M $563.0M $368.5M
YoY Change 34.75% 52.78% -22.19%
LONG-TERM ASSETS
Property, Plant & Equipment $65.77M $60.78M $56.86M
YoY Change -8.39% 6.89% 14.84%
Goodwill $741.6M $777.9M $434.3M
YoY Change 69.23% 79.11% 11.65%
Intangibles
YoY Change
Long-Term Investments $22.86M $21.86M $15.70M
YoY Change 18.38% 39.2% 9.31%
Other Assets $26.70M $28.13M $16.59M
YoY Change -22.84% 69.57% 36.05%
Total Long-Term Assets $1.359B $1.433B $768.7M
YoY Change 74.75% 86.48% 11.73%
TOTAL ASSETS
Total Short-Term Assets $530.8M $563.0M $368.5M
Total Long-Term Assets $1.359B $1.433B $768.7M
Total Assets $1.890B $1.996B $1.137B
YoY Change 61.31% 75.56% -2.1%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $60.12M $66.63M $47.65M
YoY Change 19.89% 39.84% 56.37%
Accrued Expenses $114.4M $117.0M $80.06M
YoY Change 33.14% 46.1% 12.29%
Deferred Revenue $18.90M $18.90M $19.74M
YoY Change 6.18% -4.24% -7.77%
Short-Term Debt $0.00 $80.00M $0.00
YoY Change
Long-Term Debt Due $23.87M $23.87M $20.75M
YoY Change 15.02% 15.02% -1.78%
Total Short-Term Liabilities $291.0M $354.4M $183.2M
YoY Change 46.27% 93.43% 14.15%
LONG-TERM LIABILITIES
Long-Term Debt $936.0M $941.7M $384.6M
YoY Change 146.57% 144.89% -12.35%
Other Long-Term Liabilities $30.44M $34.12M $4.231M
YoY Change -33.18% 706.33% -50.65%
Total Long-Term Liabilities $966.4M $975.8M $388.8M
YoY Change 127.32% 151.0% -13.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $291.0M $354.4M $183.2M
Total Long-Term Liabilities $966.4M $975.8M $388.8M
Total Liabilities $1.364B $1.445B $626.1M
YoY Change 114.16% 130.75% -6.06%
SHAREHOLDERS EQUITY
Retained Earnings $541.2M $512.5M $507.6M
YoY Change 2.24% 0.98% -3.57%
Common Stock $644.0K $644.0K $651.0K
YoY Change -0.62% -1.08% -9.21%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $483.4M $507.3M $507.8M
YoY Change
Total Liabilities & Shareholders Equity $1.890B $1.996B $1.137B
YoY Change 61.31% 75.56% -2.1%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income $31.90M $15.98M $30.05M
YoY Change 13.3% -46.83% -22.74%
Depreciation, Depletion And Amortization $5.400M $5.700M $5.000M
YoY Change -75.82% 14.0% 8.7%
Cash From Operating Activities $95.37M $35.98M $54.51M
YoY Change 32.96% -34.0% -22.51%
INVESTING ACTIVITIES
Capital Expenditures $34.45M $5.389M $4.063M
YoY Change 55.47% 32.64% -27.79%
Acquisitions $0.00 $23.32M
YoY Change -100.0%
Other Investing Activities $6.276M -$111.0K -$23.32M
YoY Change 1380.19% -99.52% -388716.67%
Cash From Investing Activities -$28.17M -$21.99M -$36.64M
YoY Change 29.63% -39.97% 156.38%
FINANCING ACTIVITIES
Cash Dividend Paid $3.249M
YoY Change -9.7%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $5.967M $5.187M
YoY Change 15.04% 5.04%
Cash From Financing Activities -69.43M -$16.35M -$40.58M
YoY Change 284.76% -59.71% 12.19%
NET CHANGE
Cash From Operating Activities 95.37M $35.98M $54.51M
Cash From Investing Activities -28.17M -$21.99M -$36.64M
Cash From Financing Activities -69.43M -$16.35M -$40.58M
Net Change In Cash -2.234M -$6.137M -$22.98M
YoY Change -106.99% -73.29% -227.75%
FREE CASH FLOW
Cash From Operating Activities $95.37M $35.98M $54.51M
Capital Expenditures $34.45M $5.389M $4.063M
Free Cash Flow $60.92M $30.59M $50.45M
YoY Change 22.89% -39.37% -22.06%

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CY2024Q1 us-gaap Payments For Repurchase Of Common Stock
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CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2024Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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337587000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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192677000 usd
CY2024Q1 us-gaap Number Of Countries In Which Entity Operates
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CY2024Q1 us-gaap Property Plant And Equipment Gross
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208077000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
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59260000 usd
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60994000 usd
CY2024Q1 us-gaap Land And Land Improvements
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1517000 usd
CY2023Q4 us-gaap Land And Land Improvements
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CY2023Q4 us-gaap Property Plant And Equipment Net
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62453000 usd
CY2024Q1 us-gaap Depreciation Depletion And Amortization
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5700000 usd
CY2023Q1 us-gaap Depreciation Depletion And Amortization
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CY2023Q4 us-gaap Goodwill
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CY2024Q1 us-gaap Goodwill
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CY2024Q1 us-gaap Goodwill Impairment Loss
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CY2023Q1 us-gaap Goodwill Impairment Loss
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CY2024Q1 us-gaap Amortization Of Intangible Assets
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28800000 usd
CY2023Q1 us-gaap Amortization Of Intangible Assets
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CY2024Q1 evtc Long Term Debt Business Combination Deferred Consideration
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18860000 usd
CY2023Q4 evtc Long Term Debt Business Combination Deferred Consideration
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CY2024Q1 us-gaap Short Term Borrowings
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CY2023Q4 us-gaap Short Term Borrowings
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CY2024Q1 evtc Business Combination Deferred Consideration Noncurrent
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CY2023Q4 evtc Business Combination Deferred Consideration Noncurrent
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CY2024Q1 us-gaap Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net
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CY2023Q1 us-gaap Interest Rate Cash Flow Hedge Gain Loss Reclassified To Earnings Net
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CY2024Q1 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
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CY2024Q1 us-gaap Debt Securities Available For Sale Excluding Accrued Interest
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CY2024Q1 us-gaap Interest Rate Derivative Assets At Fair Value
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CY2023Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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CY2023Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
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CY2024Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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CY2024Q1 us-gaap Contract With Customer Liability Revenue Recognized
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CY2024Q1 us-gaap Revenue Remaining Performance Obligation
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CY2023Q4 us-gaap Redeemable Noncontrolling Interest Equity Fair Value
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CY2024Q1 evtc Redeemable Noncontrolling Interest Change In Redemption Value
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3172000 usd
CY2024Q1 us-gaap Redeemable Noncontrolling Interest Equity Fair Value
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CY2024Q1 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
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CY2024Q1 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
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CY2024Q1 us-gaap Allocated Share Based Compensation Expense
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CY2023Q1 us-gaap Allocated Share Based Compensation Expense
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CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2023Q4 us-gaap Contract With Customer Asset Net
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CY2022Q4 us-gaap Contract With Customer Asset Net
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4749000 usd
CY2024Q1 us-gaap Contract With Customer Asset Cumulative Catch Up Adjustment To Revenue Change In Measure Of Progress
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4889000 usd
CY2023 us-gaap Contract With Customer Asset Cumulative Catch Up Adjustment To Revenue Change In Measure Of Progress
ContractWithCustomerAssetCumulativeCatchUpAdjustmentToRevenueChangeInMeasureOfProgress
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CY2024Q1 us-gaap Contract With Customer Asset Reclassified To Receivable
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CY2024Q1 us-gaap Contract With Customer Asset Net
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CY2023Q4 us-gaap Contract With Customer Asset Net
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CY2023Q1 evtc Deferred Territory Income Tax Expense Benefit
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CY2024Q1 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2023Q1 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2024Q1 us-gaap Deferred Foreign Income Tax Expense Benefit
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CY2023Q1 us-gaap Deferred Foreign Income Tax Expense Benefit
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CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
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CY2024Q1 us-gaap Provision For Loan Lease And Other Losses
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CY2023 us-gaap Provision For Loan Lease And Other Losses
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CY2024Q1 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
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CY2023 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
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CY2024Q1 us-gaap Financing Receivable Allowance For Credit Losses Recovery
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CY2023 us-gaap Financing Receivable Allowance For Credit Losses Recovery
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CY2024Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
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CY2023Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
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CY2024Q1 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
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CY2023Q1 us-gaap Current Income Tax Expense Benefit
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CY2024Q1 us-gaap Deferred Income Tax Expense Benefit
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CY2023Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2024Q1 evtc Current Territory Tax Expense Benefit
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CY2023Q1 evtc Current Territory Tax Expense Benefit
CurrentTerritoryTaxExpenseBenefit
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CY2024Q1 us-gaap Current Federal Tax Expense Benefit
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CY2023Q1 us-gaap Current Federal Tax Expense Benefit
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CY2024Q1 us-gaap Current Foreign Tax Expense Benefit
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CY2023Q1 us-gaap Current Foreign Tax Expense Benefit
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CY2024Q1 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
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CY2023Q1 us-gaap Current Income Tax Expense Benefit
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CY2024Q1 evtc Deferred Territory Income Tax Expense Benefit
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CY2024Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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CY2023Q1 us-gaap Deferred Income Tax Expense Benefit
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CY2024Q1 us-gaap Undistributed Earnings Of Foreign Subsidiaries
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CY2023Q4 us-gaap Deferred Income Tax Liabilities
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CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
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CY2024Q1 us-gaap Decrease In Unrecognized Tax Benefits Is Reasonably Possible
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CY2024Q1 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2023Q1 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2024Q1 evtc Income Tax Reconciliation Differences In Tax Rates Due To Multiple Jurisdictions
IncomeTaxReconciliationDifferencesInTaxRatesDueToMultipleJurisdictions
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CY2023Q1 evtc Income Tax Reconciliation Differences In Tax Rates Due To Multiple Jurisdictions
IncomeTaxReconciliationDifferencesInTaxRatesDueToMultipleJurisdictions
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CY2024Q1 evtc Income Tax Reconciliation Effect Of Income Subject To Tax Exemption Grant
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CY2023Q1 evtc Income Tax Reconciliation Effect Of Income Subject To Tax Exemption Grant
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CY2024Q1 evtc Income Tax Reconciliation Unrecognized Tax Expense Benefit
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CY2023Q1 evtc Income Tax Reconciliation Unrecognized Tax Expense Benefit
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CY2024Q1 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
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CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
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CY2024Q1 us-gaap Income Tax Reconciliation Tax Credits Research
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CY2023Q1 us-gaap Income Tax Reconciliation Tax Credits Research
IncomeTaxReconciliationTaxCreditsResearch
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CY2024Q1 us-gaap Income Tax Reconciliation Other Adjustments
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CY2023Q1 us-gaap Income Tax Reconciliation Other Adjustments
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CY2024Q1 us-gaap Income Tax Expense Benefit
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CY2023Q1 us-gaap Income Tax Expense Benefit
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CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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30052000 usd
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CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2024Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2023Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2024Q1 us-gaap Common Stock Dividends Per Share Declared
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CY2024Q1 us-gaap Number Of Operating Segments
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CY2024Q1 evtc Earningsbefore Interest Taxes Depreciationand Amortization
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CY2024Q1 evtc Adjusted Ebitda Transaction Refinancing Exit Activity And Other Fees
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4456000 usd
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5845000 usd
CY2024Q1 us-gaap Profit Loss
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CY2023Q1 us-gaap Profit Loss
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CY2024Q1 us-gaap Income Tax Expense Benefit
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CY2023Q1 us-gaap Income Tax Expense Benefit
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CY2023Q1 us-gaap Income Tax Expense Benefit
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2818000 usd
CY2024Q1 us-gaap Interest Income Expense Net
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CY2023Q1 us-gaap Interest Income Expense Net
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CY2024Q1 us-gaap Depreciation And Amortization
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34441000 usd
CY2024Q1 us-gaap Depreciation And Amortization
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34441000 usd
CY2023Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
19432000 usd
CY2023Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
19432000 usd
CY2024Q1 evtc Earningsbefore Interest Taxes Depreciationand Amortization
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67699000 usd
CY2023Q1 evtc Earningsbefore Interest Taxes Depreciationand Amortization
EarningsbeforeInterestTaxesDepreciationandAmortization
56823000 usd
CY2024Q1 us-gaap Interest Paid Net
InterestPaidNet
18924000 usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
5874000 usd
CY2024Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
4250000 usd
CY2023Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
6119000 usd
CY2024Q1 us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
5550000 usd
CY2023Q1 us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
5282000 usd
CY2024Q1 us-gaap Noncash Or Part Noncash Acquisition Payables Assumed1
NoncashOrPartNoncashAcquisitionPayablesAssumed1
0 usd
CY2023Q1 us-gaap Noncash Or Part Noncash Acquisition Payables Assumed1
NoncashOrPartNoncashAcquisitionPayablesAssumed1
881000 usd
CY2024Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2693000 usd
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
293666000 usd
CY2023Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
114201000 usd
CY2024Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
23597000 usd
CY2023Q1 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
19015000 usd
CY2024Q1 evtc Cash And Cash Equivalents Included In Settlement Assets Current
CashAndCashEquivalentsIncludedInSettlementAssetsCurrent
20324000 usd
CY2023Q1 evtc Cash And Cash Equivalents Included In Settlement Assets Current
CashAndCashEquivalentsIncludedInSettlementAssetsCurrent
59461000 usd
CY2024Q1 evtc Total Cash Cash Equivalents Cash Equivalent Included In Settlement Assets Current Restricted Cash And Restricted Cash Equivalents Included On Cash Flows
TotalCashCashEquivalentsCashEquivalentIncludedInSettlementAssetsCurrentRestrictedCashAndRestrictedCashEquivalentsIncludedOnCashFlows
337587000 usd
CY2023Q1 evtc Total Cash Cash Equivalents Cash Equivalent Included In Settlement Assets Current Restricted Cash And Restricted Cash Equivalents Included On Cash Flows
TotalCashCashEquivalentsCashEquivalentIncludedInSettlementAssetsCurrentRestrictedCashAndRestrictedCashEquivalentsIncludedOnCashFlows
192677000 usd
CY2024Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
70000000 usd
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2024Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
70000000 usd
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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0001559865-24-000027.txt Edgar Link pending
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