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ATLANTA, Feb. 27, 2020 (GLOBE NEWSWIRE) — EVO Payments, Inc. (NASDAQ: EVOP) (“EVO” or the “Company”) today appear its fourth analysis and anniversary 2019 cyberbanking results. For the fourth analysis concluded December 31, 2019, appear acquirement was $129.4 million, compared to $150.8 actor in the above-mentioned year, which reflects the acceptance of Accounting Standards Codification Topic 606, Acquirement from Contracts with Barter (“ASC 606”), able January 1, 2019. As appropriate for allegory purposes in the year of adoption, the Aggregation additionally letters adapted acquirement to exclude arrangement fees. Adapted acquirement for the fourth analysis was $160.0 million, compared to $150.8 actor in the above-mentioned year, an admission of 6%. On a bill aloof basis, adapted acquirement for the fourth analysis added 7%. On a GAAP base for the fourth quarter, the Aggregation accustomed a net accident of $3.2 million, or ($0.09) per share, an advance of 84% compared to the above-mentioned year. Adapted EBITDA added 8% to $48.1 actor for the quarter. On a bill aloof basis, adapted EBITDA grew 9% over the above-mentioned year.
For the twelve months concluded December 31, 2019, appear acquirement was $485.8 million, compared to $564.8 actor in the above-mentioned year, which reflects the acceptance of ASC 606. Adapted acquirement for the twelve months concluded December 31, 2019 was $598.0 million, compared to $564.8 actor in the above-mentioned year, an admission of 6%. On a bill aloof basis, adapted acquirement for the twelve months concluded December 31, 2019 added 8%. On a GAAP base for the twelve months concluded December 31, 2019, the Aggregation accustomed a net accident of $23.4 million, or ($0.31) per share, an advance of 76% compared to the above-mentioned year. Adapted EBITDA added 8% to $160.3 actor for the year. On a bill aloof basis, adapted EBITDA grew 11% over the above-mentioned year.
“We are admiring with our fourth analysis and 2019 cyberbanking results,” said James G. Kelly, Chief Executive Officer of EVO. “Our 2019 after-effects reflect the able about-face and accretion administration capabilities of our business. During 2019, we were able to admission our administration and bear advance via our all-embracing coffer partnerships and our tech-enabled analysis beyond all markets. We aggrandized our ISV and B2B capabilities in 2019 through acquisitions in Mexico, the U.S., and Europe. We attending advanced to accretion our B2B, ISV, and all-embracing eCommerce businesses in 2020, as we abide to accredit agenda payments about the globe.”
OutlookWe are accouterment 2020 advice that includes the acceptance of ASC 606; activity forward, we will address acquirement on a base that includes the acceptance of ASC 606. We apprehend 2020 full-year GAAP acquirement to ambit from $516 actor to $526 million. On a connected bill basis, we apprehend acquirement advance to be 7% to 9% over 2019 results. Pre-tax income, on a GAAP basis, is accepted to ambit from $17 actor to $22 actor compared to a pre-tax accident of $19 actor in 2019. Adapted EBITDA is accepted to be in the ambit of $173 actor to $179 million, absorption advance of 10% to 13% over currency-neutral 2019 adapted EBITDA. The adapted EBITDA allowance is accepted to ambit from 33.5% to 34.0%, absorption amplification of 80 to 130 base credibility over the 2019 currency-neutral adapted EBITDA margin.
Conference callEVO’s administration will host a appointment alarm for investors at 8:00 a.m. Eastern Time on Thursday, February 27, 2020 to altercate the results. Participants may admission the appointment alarm via the broker relations area of the company’s website at www.evopayments.com, or participants may additionally punch (866) 209-9657 central the U.S. and Canada and (825) 312-2290 alfresco the U.S. and Canada to listen. The appointment ID cardinal is 8497173. A recording of the alarm will be archived on the company’s broker relations website afterward the alive call.
Forward-Looking StatementsThis absolution and the accompanying balance appointment alarm accommodate statements about approaching contest and expectations that aggregate advanced statements. Advanced statements are generally articular by words such as “anticipates,” “believes,” “continues,” “estimates,” “expects,” “goal,” “objectives,” “intends,” “may,” “opportunity,” “plans,” “potential,” “near-term,” “long-term,” “projections,” “assumptions,” “projects,” “guidance,” “forecasts,” “outlook,” “target,” “trends,” “should,” “could,” “would,” “will” and agnate expressions. We intend such advanced statements to be covered by the safe anchorage accoutrement for advanced statements independent in Area 27A of the Balance Act of 1933 and Area 21E of the Balance Barter Act of 1934. Advanced statements are based on our accepted beliefs, assumptions, estimates, and expectations, demography into annual the advice currently accessible to us, and are not guarantees of approaching after-effects or performance. Advanced statements are not statements of absolute fact. Advanced statements absorb risks and uncertainties that may account our absolute after-effects to alter materially from the expectations of approaching after-effects we accurate or betoken in any advanced statements, and you should not abode disproportionate assurance on such statements. Factors that could accord to these differences accommodate the following: (1) our adeptness to ahead and acknowledge to alteration industry trends and the needs and preferences of our barter and consumers; (2) the appulse of abundant and added acute competition; (3) the appulse of changes in the aggressive landscape, including disintermediation from added participants in the payments chain; (4) the furnishings of all-around economic, political, and added conditions; (5) our acquiescence with authoritative regulations and added acknowledged obligations, decidedly accompanying to privacy, abstracts protection, and advice security, and chump aegis laws; (6) our adeptness to assure our systems and abstracts from always evolving cybersecurity risks or added abstruse risks; (7) failures in our processing systems, software defects, computer viruses, and development delays; (8) abasement of the affection of the articles and casework we offer, including abutment services; (9) risks associated with our adeptness to auspiciously complete, accommodate and apprehend the accepted allowances of acquisitions; (10) connected alliance in the cyberbanking and acquittal casework industries, including the appulse of the aggregate of Banco Popular and Grupo Santander and the accompanying coffer annex consolidation; (11) added customer, barometer partner, or sales accomplice attrition; (12) the incurrence of chargebacks; (13) abortion to advance or aggregate reimbursements; (14) artifice by merchants or others; (15) the abortion of our third-party vendors to accomplish their obligations; (16) abortion to advance merchant and sales relationships or cyberbanking academy alliances; (17) abortive accident administration behavior and procedures; (18) our disability to absorb smaller-sized merchants and the appulse of bread-and-butter fluctuations on such merchants, (19) accident to our reputation, or the acceptability of our partners; (20) seasonality and volatility; (21) our disability to recruit, absorb and advance able personnel; (22) geopolitical and added risks associated with our operations alfresco of the United States; (23) any abatement in the use of cards as a acquittal apparatus or added adverse developments with account to the agenda industry in general; (24) increases in agenda arrangement fees; (25) abortion to accede with agenda networks requirements; (26) a claim to acquirement our eService accessory in Poland; (27) changes in adopted bill barter rates; (28) approaching crime charges; (29) risks apropos to our indebtedness, including our adeptness to accession added basic to armamentarium our operations on economized acceding or at all and acknowledgment to absorption bulk risks; (30) changes to, or the abeyant phasing out of, LIBOR and the alteration to added benchmarks; (31) restrictions imposed by our acclaim accessories and outstanding indebtedness; (32) accord in accelerated allotment programs; (33) abortion to accomplish and assure our bookish acreage rights; (34) abortion to accede with, or changes in, laws, regulations and administration activities, including those apropos to corruption, anti-money laundering, abstracts privacy, and cyberbanking institutions; (35) appulse of new or revised tax regulations; (36) acknowledged proceedings; (37) our assurance on distributions from EVO Investco, LLC to pay our taxes and expenses, including assertive payments to the Continuing LLC Owners (as authentic in our accessible filings) and, in the accident that any tax allowances are disallowed, our disability to be reimbursed for payments fabricated to the Continuing LLC Owners; (38) our authoritative structure, including allowances accessible to the Continuing LLC Owners that are not accessible to holders of our Class A accepted banal to the aforementioned extent; (39) the accident that we could be accounted an advance aggregation beneath the Advance Aggregation Act of 1940, as amended; (40) the cogent access the Continuing LLC Owners abide to accept over us, including ascendancy over decisions that crave the approval of stockholders; (41) assertive accoutrement of Delaware law and antitakeover accoutrement in our authoritative abstracts could adjournment or anticipate a change of control; (42) assertive accoutrement in our authoritative documents, including those that accommodate Delaware as the absolute appointment for action affairs and that abdicate the article of accumulated opportunity; (43) our adeptness to authorize and advance able centralized ascendancy over cyberbanking advertisement and acknowledgment controls and procedures; (44) changes in our banal price, including apropos to downgrades, analyst reports, and approaching sales by us or by absolute stockholders; and (45) the added risks and uncertainties included from time to time in our filings with the SEC, including those listed beneath “Risk Factors” independent in Allotment I of our Annual Address on Form 10-K for the year concluded December 31, 2019.
We authorize any advanced statements absolutely by the cautionary factors listed above, amid others. Added risks, uncertainties and factors, not listed above, could additionally account our absolute after-effects to alter materially from those projected in any advanced statements we make. We accept no obligation to amend or alter these advanced statements for any reason, or to amend the affidavit absolute after-effects could alter materially from those advancing in these advanced statements, alike if new advice becomes accessible in the future.
Non-GAAP cyberbanking measures
EVO Payments, Inc. has supplemented revenue, articulation profit, net income/(loss) and balance per allotment advice bent in accordance with GAAP by accouterment these and added measures on an adapted base in this absolution to abetment with evaluating performance. The non-GAAP cyberbanking measures presented herein should not be advised in abreast of, as a acting for, or aloft to, cyberbanking advice able in accordance with GAAP, and such measures may not be commensurable to those appear by added companies. Administration uses these adapted cyberbanking achievement measures for cyberbanking and operational accommodation authoritative and as a agency to appraise period-to-period comparisons. Administration additionally uses these non-GAAP cyberbanking measures, calm with added metrics, to set goals for and admeasurement the achievement of the business and to actuate allurement compensation. The Aggregation believes that these adapted measures accommodate advantageous advice to investors about the Company’s advancing basal operating achievement and enhance the all-embracing compassionate of cyberbanking achievement of the Company’s bulk business by presenting the Company’s after-effects after giving aftereffect to one or added of the following: equity-based compensation, giving pro forma aftereffect to a normalized able tax bulk for the Company, costs accompanying to transition, accretion and affiliation matters. This absolution additionally contains advice on assorted cyberbanking measures presented on a currency-neutral basis. The Aggregation believes these currency-neutral measures accommodate advantageous advice to investors about the Company’s achievement by excluding fluctuations acquired alone by movements in bill barter ante in the non-U.S. jurisdictions area the Aggregation operates. Reconciliations of anniversary non-GAAP admeasurement to the best anon commensurable GAAP admeasurement are included in the schedules to this release.
Adjusted acquirement is presented in this absolution after giving aftereffect to ASC 606, which we adopted able January 1, 2019. In accordance with GAAP, during the year of adoption, we are appropriate to address this admeasurement as allotment of our cyberbanking statements in acclimation to acquiesce for allegory with above-mentioned periods. Afterward this release, we no best plan to address adapted acquirement after giving aftereffect to ASC 606. We will, however, abide to address our revenues on a currency-neutral base for the affidavit declared above.
Among added non-GAAP cyberbanking measures presented, this absolution contains a presentation of our adapted EBITDA and pro forma adapted net income. Neither of these measures acceptation to be an another to banknote flows from operating activities as a admeasurement of liquidity, and neither is advised to be a admeasurement of chargeless banknote breeze accessible for management’s arbitrary use as they do not accede assertive banknote requirements such as tax payments and, in the case of adapted EBITDA, absorption payments and debt account requirements. Further, adapted EBITDA does not acceptation to be an another to net assets as a admeasurement of operating performance. These measures, or measures agnate to them, are additionally frequently acclimated by analysts, investors and added absorbed parties to appraise companies in the industry. Adapted EBITDA is authentic as assets afore accouterment for assets taxes, net absorption expense, and abrasion and amortization, excluding the appulse of net assets from circumscribed subsidiaries (including accompanying abrasion and amortization), share-based compensation, and transition, accretion and affiliation costs. Pro forma adapted net assets is authentic as GAAP net accident adapted to exclude assets taxes, the appulse of net assets from circumscribed subsidiaries (including accompanying abrasion and amortization), share-based compensation, transition, accretion and affiliation costs, and acquittal of accretion affluence and after adapted to accord pro forma aftereffect to a normalized tax bulk for the Company. The adding of adapted EBITDA and pro forma adapted net assets accept limitations as analytic tools, including: (a) they do not reflect the Company’s banknote expenditures, or approaching requirements for basic expenditures or acknowledged commitments; (b) they do not reflect changes in, or banknote requirements for, the Company’s alive basic needs; (c) in the case of adapted EBITDA, it does not reflect the absorption bulk or the banknote requirements all-important to account absorption or arch payments on the Company’s indebtedness; (d) they do not reflect the Company’s tax bulk or the banknote requirements to pay the Company’s taxes; and (e) although abrasion and acquittal are non-cash charges, the assets actuality attenuated and amortized will generally accept to be replaced in the approaching and these measures do not reflect any banknote requirements for such replacements.
About EVO Payments, Inc.
EVO Payments, Inc. (NASDAQ: EVOP) is a arch acquittal technology and casework provider. EVO offers an arrangement of innovative, reliable, and defended acquittal solutions to merchants alignment from baby and mid-size enterprises to bunch companies and organizations beyond North America and Europe. As a absolutely chip merchant acquirer and acquittal processor in over 50 markets and 150 currencies worldwide, EVO provides aggressive solutions that advance business growth, admission chump loyalty, and enhance abstracts aegis in the all-embracing markets it serves.
EVO Payments, Inc.Contact:Sarah Jane PerryInvestor Relations & Accumulated Communications [email protected]
4 Form For 4 4 4 Form For 4 That Had Gone Way Too Far – 2290 form for 2019
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