EVERTEC, INC., 10-Q filed on 11/7/2025
Quarterly Report
v3.25.3
Cover - shares
 9 Months Ended
Sep. 30, 2025
Oct. 31, 2025
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Sep. 30, 2025  
Document Transition Report false  
Entity File Number 001-35872  
Entity Registrant Name EVERTEC, Inc.  
Entity Incorporation, State or Country Code PR  
Entity Tax Identification Number 66-0783622  
Entity Address, Address Line One Cupey Center Building,  
Entity Address, Address Line Two Road 176, Kilometer 1.3,  
Entity Address, City or Town San Juan,  
Entity Address, State or Province PR  
Entity Address, Postal Zip Code 00926  
City Area Code 787  
Local Phone Number 759-9999  
Title of 12(b) Security Common Stock, $0.01 par value per share  
Trading Symbol EVTC  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding (in shares)   63,983,841
Entity Central Index Key 0001559865  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2025  
Document Fiscal Period Focus Q3  
Amendment Flag false  
v3.25.3
Unaudited Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Current Assets:    
Cash and cash equivalents $ 474,738 $ 273,645
Restricted cash 24,998 24,594
Accounts receivable, net 153,862 137,501
Settlement assets 15,000 31,942
Prepaid expenses and other assets 75,822 61,383
Total current assets 744,420 529,065
Debt securities available-for-sale, at fair value 2,595 913
Equity securities, at fair value 6,250 4,976
Investments in equity investees 29,336 29,472
Property and equipment, net 63,184 62,059
Operating lease right-of-use asset 7,475 10,131
Goodwill 779,671 726,901
Other intangible assets, net 447,943 430,885
Deferred tax asset 46,225 33,877
Derivative asset 0 4,338
Other long-term assets 22,068 24,994
Total assets 2,149,167 1,857,611
Current Liabilities:    
Accrued liabilities 136,232 124,553
Accounts payable 47,160 58,729
Contract liability 22,885 25,274
Income tax payable 7,461 8,981
Current portion of long-term debt 23,867 23,867
Current portion of operating lease liability 3,787 6,229
Settlement liabilities 14,787 32,027
Total current liabilities 256,179 279,660
Long-term debt 1,059,143 925,062
Deferred tax liability 40,981 44,810
Contract liability - long term 48,908 55,003
Operating lease liability - long-term 4,597 4,924
Derivative liability 5,155 1,351
Other long-term liabilities 26,187 27,540
Total liabilities 1,441,150 1,338,350
Commitments and contingencies (Note 14)
Redeemable non-controlling interests 41,282 43,460
Stockholders’ equity    
Preferred stock, par value $0.01; 2,000,000 shares authorized; none issued 0 0
Common stock, par value $0.01; 206,000,000 shares authorized; 63,983,841 shares issued and outstanding as of September 30, 2025 (December 31, 2024 - 63,614,077) 640 636
Additional paid-in capital 15,429 7,003
Accumulated earnings 696,055 599,608
Accumulated other comprehensive loss, net of tax (48,374) (134,723)
Total stockholders’ equity 663,750 472,524
Non-redeemable non-controlling interest 2,985 3,277
Total equity 666,735 475,801
Total liabilities and equity $ 2,149,167 $ 1,857,611
v3.25.3
Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares
Sep. 30, 2025
Dec. 31, 2024
Statement of Financial Position [Abstract]    
Preferred stock par value (in usd per share) $ 0.01 $ 0.01
Preferred stock authorized (in shares) 2,000,000 2,000,000
Preferred stock issued (in shares) 0 0
Common stock par value (in usd per share) $ 0.01 $ 0.01
Common stock authorized (in shares) 206,000,000 206,000,000
Common stock issued (in shares) 63,983,841 63,614,077
Common stock outstanding (in shares) 63,983,841 63,614,077
v3.25.3
Unaudited Condensed Consolidated Statements of Income and Comprehensive Income (Loss) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Income Statement [Abstract]        
Revenues $ 228,587 $ 211,795 $ 686,986 $ 629,091
Operating costs and expenses        
Cost of revenues, exclusive of depreciation and amortization 124,742 102,497 349,411 302,426
Selling, general and administrative expenses 37,678 34,097 108,992 107,910
Depreciation and amortization 28,435 33,660 85,217 101,051
Total operating costs and expenses 190,855 170,254 543,620 511,387
Income from operations 37,732 41,541 143,366 117,704
Non-operating income (expenses)        
Interest income 4,016 3,696 10,346 10,274
Interest expense (16,534) (18,704) (50,241) (57,352)
(Loss) gain on foreign currency remeasurement (60) (1,112) 455 (3,164)
Earnings from equity investees 1,346 1,099 4,290 3,266
Other income, net 6,929 389 7,483 6,484
Total non-operating expenses (4,303) (14,632) (27,667) (40,492)
Income before income taxes 33,429 26,909 115,699 77,212
Income tax (benefit) expense (31) 1,707 8,175 3,100
Net income 33,460 25,202 107,524 74,112
Less: Net income attributable to non-controlling interest 599 524 1,495 1,554
Net income attributable to EVERTEC, Inc.’s common stockholders 32,861 24,678 106,029 72,558
Other comprehensive income (loss), net of tax of $20, $(3,898), $(1,735) and $(3,267)        
Foreign currency translation adjustments 13,593 15,354 92,799 (75,473)
Loss on cash flow hedges (313) (11,937) (6,465) (8,555)
Unrealized gain (loss) on change in fair value of debt securities available-for-sale 5 (1) 15 (4)
Other comprehensive income (loss), net of tax 13,285 3,416 86,349 (84,032)
Total comprehensive income (loss) attributable to EVERTEC, Inc.’s common stockholders $ 46,146 $ 28,094 $ 192,378 $ (11,474)
Net income per common share - basic attributable to EVERTEC, Inc.’s common stockholders (in usd per share) $ 0.51 $ 0.39 $ 1.66 $ 1.12
Net income per common share - diluted attributable to EVERTEC, Inc.’s common stockholders (in usd per share) $ 0.51 $ 0.38 $ 1.64 $ 1.11
v3.25.3
Unaudited Condensed Consolidated Statements of Income and Comprehensive Income (Loss) (Parenthetical) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Income Statement [Abstract]        
Other comprehensive (loss) income, tax $ 20 $ (3,898) $ (1,735) $ (3,267)
v3.25.3
Unaudited Condensed Consolidated Statements of Changes in Stockholders’ Equity - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-in Capital
Accumulated Earnings
Accumulated  Other Comprehensive (Loss) Income
Non-Controlling Interest (excluding Redeemable Non-Controlling Interest)
Beginning balance (in shares) at Dec. 31, 2023   65,450,799        
Beginning balance at Dec. 31, 2023 $ 598,408 $ 654 $ 36,527 $ 538,903 $ 18,209 $ 4,115
Changes in Stockholders’ Equity            
Share-based compensation recognized 7,349   7,349      
Restricted stock units delivered (in shares)   474,953        
Restricted stock units delivered (9,756) $ 5 (9,761)      
Repurchase of common stock (in shares)   (1,516,793)        
Repurchase of common stock (70,000) $ (15) (30,943) (39,042)    
Net income (loss) 16,387     16,497   (110)
Cash dividends on common stock, $0.05 per share (3,273)     (3,273)    
Adjustment of redeemable noncontrolling interest to redemption value (3,172)   (3,172)      
Excise tax on repurchase of common stock (550)     (550)    
Other comprehensive income (loss) (24,154)       (24,131) (23)
Ending balance (in shares) at Mar. 31, 2024   64,408,959        
Ending balance at Mar. 31, 2024 511,239 $ 644 0 512,535 (5,922) 3,982
Changes in Stockholders’ Equity            
Share-based compensation recognized 7,660   7,660      
Restricted stock units delivered (in shares)   37,252        
Restricted stock units delivered (69)   (69)      
Net income (loss) 31,310     31,383   (73)
Cash dividends on common stock, $0.05 per share (3,220)     (3,220)    
Adjustment of redeemable noncontrolling interest to redemption value 3,186   3,186      
Reversal of excise tax on repurchase of common stock 550     550    
Other comprehensive income (loss) (63,581)       (63,317) (264)
Ending balance (in shares) at Jun. 30, 2024   64,446,211        
Ending balance at Jun. 30, 2024 487,075 $ 644 10,777 541,248 (69,239) 3,645
Changes in Stockholders’ Equity            
Share-based compensation recognized 7,378   7,378      
Restricted stock units delivered (in shares)   4,364        
Restricted stock units delivered (82)   (82)      
Repurchase of common stock (in shares)   (841,453)        
Repurchase of common stock (12,293) $ (8) (12,285)      
Net income (loss) 24,594     24,678   (84)
Cash dividends on common stock, $0.05 per share (3,199)     (3,199)    
Adjustment of redeemable noncontrolling interest to redemption value (709)   (709)      
Other comprehensive income (loss) 3,408       3,416 (8)
Ending balance (in shares) at Sep. 30, 2024   63,609,122        
Ending balance at Sep. 30, 2024 $ 506,172 $ 636 5,079 562,727 (65,823) 3,553
Beginning balance (in shares) at Dec. 31, 2024 63,614,077 63,614,077        
Beginning balance at Dec. 31, 2024 $ 475,801 $ 636 7,003 599,608 (134,723) 3,277
Changes in Stockholders’ Equity            
Share-based compensation recognized 7,249   7,249      
Restricted stock units delivered (in shares)   414,006        
Restricted stock units delivered (8,706) $ 4 (8,710)      
Net income (loss) 32,583     32,703   (120)
Cash dividends on common stock, $0.05 per share (3,181)     (3,181)    
Adjustment of redeemable noncontrolling interest to redemption value (1,220)   (1,220)      
Other comprehensive income (loss) 42,568       42,727 (159)
Ending balance (in shares) at Mar. 31, 2025   64,028,083        
Ending balance at Mar. 31, 2025 $ 545,094 $ 640 4,322 629,130 (91,996) 2,998
Beginning balance (in shares) at Dec. 31, 2024 63,614,077 63,614,077        
Beginning balance at Dec. 31, 2024 $ 475,801 $ 636 7,003 599,608 (134,723) 3,277
Ending balance (in shares) at Sep. 30, 2025 63,983,841 63,983,841        
Ending balance at Sep. 30, 2025 $ 666,735 $ 640 15,429 696,055 (48,374) 2,985
Beginning balance (in shares) at Mar. 31, 2025   64,028,083        
Beginning balance at Mar. 31, 2025 545,094 $ 640 4,322 629,130 (91,996) 2,998
Changes in Stockholders’ Equity            
Share-based compensation recognized 7,299   7,299      
Restricted stock units delivered (in shares)   55,812        
Restricted stock units delivered (212) $ 1 (213)      
Repurchase of common stock (in shares)   (101,890)        
Repurchase of common stock (3,691) $ (1) (3,690)      
Net income (loss) 40,404     40,465   (61)
Cash dividends on common stock, $0.05 per share (3,202)     (3,202)    
Adjustment of redeemable noncontrolling interest to redemption value (762)   (762)      
Other comprehensive income (loss) 30,421       30,337 84
Ending balance (in shares) at Jun. 30, 2025   63,982,005        
Ending balance at Jun. 30, 2025 615,351 $ 640 6,956 666,393 (61,659) 3,021
Changes in Stockholders’ Equity            
Share-based compensation recognized 7,646   7,646      
Restricted stock units delivered (in shares)   1,836        
Restricted stock units delivered (24)   (24)      
Net income (loss) 32,700     32,861   (161)
Cash dividends on common stock, $0.05 per share (3,199)     (3,199)    
Adjustment of redeemable noncontrolling interest to redemption value 851   851      
Other comprehensive income (loss) $ 13,410       13,285 125
Ending balance (in shares) at Sep. 30, 2025 63,983,841 63,983,841        
Ending balance at Sep. 30, 2025 $ 666,735 $ 640 $ 15,429 $ 696,055 $ (48,374) $ 2,985
v3.25.3
Unaudited Condensed Consolidated Statements of Changes in Stockholders’ Equity (Parenthetical) - $ / shares
 3 Months Ended
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Statement of Stockholders' Equity [Abstract]            
Cash dividends on common stock (in usd per share) $ 0.05 $ 0.05 $ 0.05 $ 0.05 $ 0.05 $ 0.05
v3.25.3
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities    
Net income (loss) $ 107,524,000 $ 74,112,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 85,217,000 101,051,000
Amortization of debt issue costs and accretion of discount 2,770,000 3,576,000
Operating lease amortization 5,373,000 5,340,000
Provision (release) for expected credit losses and sundry losses 9,455,000 (476,000)
Deferred tax benefit (18,944,000) (20,275,000)
Share-based compensation 22,194,000 22,387,000
Gain on sale of equity securities 0 (2,599,000)
Earnings of equity investees (4,290,000) (3,266,000)
Dividend received from equity method investee 3,861,000 3,364,000
(Gain) loss on foreign currency remeasurement (455,000) 3,164,000
Other, net 821,000 189,000
(Increase) decrease in assets:    
Accounts receivable, net (19,332,000) (838,000)
Prepaid expenses and other assets (10,890,000) (1,791,000)
Other long-term assets 3,160,000 3,247,000
(Decrease) increase in liabilities:    
Accrued liabilities and accounts payable (18,249,000) (12,046,000)
Income tax payable (2,366,000) 2,359,000
Contract liability (9,690,000) 12,038,000
Operating lease liabilities (5,626,000) (5,341,000)
Other long-term liabilities 6,468,000 702,000
Total adjustments 49,477,000 110,785,000
Net cash provided by operating activities 157,001,000 184,897,000
Cash flows from investing activities    
Additions to software and other intangible assets (50,905,000) (48,778,000)
Property and equipment acquired (17,020,000) (21,050,000)
Acquisition of available-for-sale debt securities (1,782,000) 0
Investment in equity investee 0 (2,000,000)
Proceeds from maturities of available-for-sale debt securities 1,000,000 370,000
Proceeds from sale of equity securities 0 6,128,000
Other investing activities, net (896,000) (132,000)
Net cash used in investing activities (69,603,000) (65,462,000)
Cash flows from financing activities    
Acquisition of redeemable non-controlling interest (5,167,000) 0
Withholding taxes paid on share-based compensation (8,942,000) (9,907,000)
Borrowings under Revolving Facility 150,000,000 0
Dividends paid (9,582,000) (9,692,000)
Repurchase of common stock (3,691,000) (82,293,000)
Repayment of long-term debt (17,900,000) (17,900,000)
Repayment of other financing agreements (4,478,000) (7,046,000)
Settlement activity, net (8,167,000) 209,000
Other financing activities, net (2,958,000) (3,652,000)
Net cash provided by (used in) financing activities 89,115,000 (130,281,000)
Effect of foreign exchange rate on cash, cash equivalents and restricted cash 16,817,000 (6,596,000)
Net increase (decrease) in cash, cash equivalents, restricted cash and cash included in settlement assets 193,330,000 (17,442,000)
Cash, cash equivalents, restricted cash and cash included in settlement assets at the beginning of the period 314,649,000 343,724,000
Cash, cash equivalents, restricted cash, and cash included in settlement assets at end of the period $ 507,979,000 $ 326,282,000
v3.25.3
The Company and Basis of Presentation and Recent Accounting Pronouncements
 9 Months Ended
Sep. 30, 2025
Accounting Policies [Abstract]  
The Company and Basis of Presentation and Recent Accounting Pronouncements The Company and Basis of Presentation and Recent Accounting Pronouncements
The Company

EVERTEC, Inc. and its subsidiaries (collectively the “Company” or “EVERTEC”) is a leading full-service transaction processing business and financial technology provider in Latin America and the Caribbean. The Company is based in Puerto Rico and provides a broad range of merchant acquiring, payment processing and business process management services across 26 countries in the region. EVERTEC owns and operates the ATH network, which we believe is one of the leading personal identification number (“PIN”) debit networks in the Caribbean and Latin America. In addition, EVERTEC provides a comprehensive suite of services for core bank processing and cash processing in Puerto Rico and technology outsourcing in the regions the Company serves. EVERTEC serves a broad and diversified customer base of leading financial institutions, merchants, corporations, and government agencies with solutions that are essential to their operations, enabling them to issue, process and accept transactions securely.

Basis of Presentation

The unaudited condensed consolidated financial statements of EVERTEC have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. The preparation of the accompanying unaudited condensed consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited condensed consolidated financial statements. Actual results could differ from these estimates.

Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted from these statements pursuant to the rules and regulations of the Securities and Exchange Commission and, accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the Audited Consolidated Financial Statements of the Company for the year ended December 31, 2024, included in the Company’s 2024 Annual Report on Form 10-K. In the opinion of management, the accompanying unaudited condensed consolidated financial statements, prepared in accordance with GAAP, contain all adjustments necessary for a fair presentation. Intercompany accounts and transactions are eliminated in consolidation. Certain amounts from prior periods have been reclassified to conform to the current period presentation.

Recently issued accounting pronouncements not adopted

In May 2025, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2025-03 Determining the Accounting Acquirer in the Acquisition of a Variable Interest Entity to update Business Combinations (Topic 805) and Consolidation (Topic 810). The amendments in this update require an entity involved in an acquisition transaction that include an exchange of equity interests when the acquiree is a variable interest entity to consider the factors in paragraphs 805-10-55-12 through 55-15 to determine which entity is the accounting acquirer. The amendments in this update are effective for fiscal years beginning after December 15, 2026, and interim reporting periods within those annual reporting periods. Early adoption is permitted. The Company is currently evaluating the impact of this update on its consolidated financial statements and related disclosures and will apply the updated guidance upon the effective date.

In May 2025, the FASB issued ASU 2025-04 Clarifications to Share-Based Consideration Payable to a Customer amending Compensation—Stock Compensation (Topic 718) and Revenue from Contracts with Customers (Topic 606). The amendment updates the master glossary definition of the term performance condition for share-based consideration payable to a customer. The revised definition incorporates conditions that are based on the volume or monetary amount of a customer’s purchases of goods or services. The revised definition also incorporates performance targets based on purchases made by other parties that purchase the Company’s goods or services from the grantor’s customers. The revised definition of the term performance condition cannot be applied to awards granted to employees and nonemployees in exchange for goods or services to be used or consumed in the Company’s own operations. The amendments in this update are effective for fiscal years beginning after December 15, 2026. The amendments in this update permit a company to apply the new guidance on either a modified retrospective or a retrospective basis. Early adoption is permitted. The Company is currently evaluating the impact of this update on its consolidated financial statements and related disclosures and will apply the updated guidance upon the effective date.

In July 2025, the FASB issued ASU 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. This update provides a practical expedient for all entities to simplify the estimation of expected credit losses for current accounts receivable and contract assets arising from revenue transactions under ASC 606. Under the practical expedient, entities may assume that current conditions as of the balance sheet date remain
unchanged over the remaining life of the asset when developing reasonable and supportable forecasts. The update is effective for fiscal years beginning after December 15, 2025. Early adoption is permitted. The Company is currently evaluating the impact of this update on its consolidated financial statements and related disclosures and will apply the updated guidance upon the effective date.
In September 2025, the FASB issued ASU 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. This update introduces a principles-based capitalization model that replaces the previous stage-based guidance. Under the new model, capitalization of internal-use software costs begins when management authorizes and commits to funding the project, and it is probable the software will be completed and used as intended. The update also consolidates guidance for website development costs previously included in ASC 350-50 into ASC 350-40, and clarifies that the guidance applies to both on-premise and cloud-based software. The ASU is effective for fiscal years beginning after December 15, 2026. Early adoption is permitted. The Company is currently evaluating the impact of this update on its consolidated financial statements and related disclosures and will apply the updated guidance upon the effective date.
v3.25.3
Business Acquisition
 9 Months Ended
Sep. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Business Acquisition Business Acquisition
On October 31, 2024, the Company signed and closed an agreement to acquire 100% of the share capital of Grandata, Inc ("Grandata"). Grandata is a data analytics company operating in Mexico that specializes in leveraging behavioral data to provide credit risk insights, with a focus on underbanked populations. The aggregate purchase price was $33.3 million and the acquisition enhances the Company's existing product offerings. The Company accounted for this transaction as a business combination and, in accordance with ASC 805-10-25-15, the Company is allowed a period, not to exceed 12 months from the acquisition date, to adjust the provisional amounts recognized for a business combination. The purchase price allocation is as follows:
Assets/Liabilities (at fair value)
( In thousands)
Cash and cash equivalents$9,862 
Accounts receivable, net2,701 
Prepaid expenses and other assets836 
Goodwill13,771 
Other intangible assets, net18,310 
Total assets acquired45,480 
Accounts payable5,676 
Accrued liabilities604 
Income tax payable837 
Deferred tax liability5,044 
Total liabilities assumed12,161 
Additional paid-in capital33,319 
Total liabilities and equity$45,480 

The following table details the major groups of intangible assets acquired and the weighted average amortization period for these assets:

AmountWeighted-average life
(Dollar amounts in thousands)
Customer relationships$11,900 15
Trademark1,440 3
Software packages4,970 5
Total$18,310 11

On November 19, 2024, the Company signed and closed an agreement to acquire 100% of the share capital of Nubity, Inc ("Nubity"). Nubity is a cloud services provider based in Mexico, specializing in AWS cloud infrastructure management,
DevOps, and cloud-native application solutions for clients across Latin America. The aggregate purchase price was $11.0 million and the acquisition enhances the Company's existing product offering.

The Company accounted for this transaction as a business combination and, in accordance with ASC 805-10-25-15, the Company is allowed a period, not to exceed 12 months from the acquisition date, to adjust the provisional amounts recognized for a business combination. The Company received net assets with a value of $0.3 million and identified intangible assets other than goodwill for which a portion of the purchase price must be allocated. The purchase price was allocated to the following intangible assets: $4.4 million to customer relationships and $0.4 million to trademarks. Goodwill in connection with this transaction is approximately $7.4 million, after recording deferred tax liabilities of approximately $1.4 million in connection with the intangible assets recognized.

The following table details the major groups of intangible assets acquired and the weighted average amortization period for these assets:

AmountWeighted-average life
(Dollar amounts in thousands)
Customer relationships$4,370 15
Trademark365 3
Total$4,735 14

Goodwill in connection with both acquisitions is attributable to the Latin America Payments and Solutions segment, refer to Note 4- Goodwill and Other Intangible Assets for further details. None of the goodwill is deductible for income tax purposes.

The results of operations for both Grandata and Nubity were not material to the Company's unaudited condensed consolidated statement of income and comprehensive income (loss) for the quarter and nine-month period ended September 30, 2025.
v3.25.3
Property and Equipment, net
 9 Months Ended
Sep. 30, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment, net Property and Equipment, net
Property and equipment, net consisted of the following:
(Dollar amounts in thousands)Useful life
in years		September 30, 2025December 31, 2024
Buildings30$2,209 $2,105 
Data processing equipment
3 - 5
203,763 189,172 
Furniture and equipment
3 - 10
11,479 10,413 
Leasehold improvements
5 -10
5,469 5,059 
222,920 206,749 
Less - accumulated depreciation and amortization(161,255)(146,185)
Depreciable assets, net61,665 60,564 
Land1,519 1,495 
Property and equipment, net$63,184 $62,059 

Depreciation and amortization expense related to property and equipment for the three and nine months ended September 30, 2025 amounted to $5.5 million and $16.5 million, compared to $5.8 million and $16.9 million for the corresponding periods in 2024.
v3.25.3
Goodwill and Other Intangible Assets
 9 Months Ended
Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
The changes in the carrying amount of goodwill, allocated by reporting unit, were as follows (see Note 15):
(In thousands)Payment
Services -
Puerto Rico & Caribbean		Latin America Payments and SolutionsMerchant
Acquiring, net		Business
Solutions		Total
Balance at December 31, 2024$160,972 $387,798 $138,121 $40,010 $726,901 
Measurement period adjustment for prior year acquisitions— 519 — — 519 
Foreign currency translation adjustments— 52,251 — — 52,251 
Balance at September 30, 2025$160,972 $440,568 $138,121 $40,010 $779,671 

Goodwill is tested for impairment on an annual basis as of August 31, or more often if events or changes in circumstances indicate there may be impairment. The Company may test for goodwill impairment using a qualitative or a quantitative analysis. In a qualitative analysis, the Company assesses whether it is "more likely than not" that the fair value of a reporting unit is less than its carrying amount. In the quantitative analysis, the Company compares the estimated fair value of the reporting units to their carrying values, including goodwill. As of August 31, 2025, the Company performed a qualitative assessment for all the Company's reporting units. For the corresponding period in 2024 a quantitative assessment was performed for the Latin America Payments and Solutions reporting unit and a qualitative assessment for the Payments Services - Puerto Rico & Caribbean, Merchant Acquiring, net and Business Solutions reporting units. No impairment losses were recognized for the periods ended September 30, 2025 or 2024.

The carrying amount of other intangible assets at September 30, 2025 and December 31, 2024 was as follows:
  September 30, 2025
(Dollar amounts in thousands)Useful life in yearsGross
amount		Accumulated
amortization		Net carrying
amount
Customer relationships
5 - 20
$558,913 $(401,973)$156,940 
Trademarks
3 - 15
90,609 (56,734)33,875 
Software packages
3 - 10
569,719 (314,961)254,758 
Non-compete agreement53,691 (1,321)2,370 
Other intangible assets, net$1,222,932 $(774,989)$447,943 

  December 31, 2024
(Dollar amounts in thousands)Useful life in years Gross
amount		Accumulated
amortization		Net carrying
amount
Customer relationships
5 - 20
$533,203 $(374,474)$158,729 
Trademarks
3 - 15
84,008 (48,204)35,804 
Software packages
3 - 10
515,404 (281,550)233,854 
Non-compete agreement53,194 (696)2,498 
Other intangible assets, net$1,135,809 $(704,924)$430,885 

Amortization expense related to other intangibles for the three and nine months ended September 30, 2025 amounted to $22.9 million and $68.7 million, compared to $27.9 million and $84.2 million for the corresponding periods in 2024.

The estimated amortization expense of the other intangible balances outstanding at September 30, 2025, for the remainder of 2025 and the years thereafter is as follows:
(In thousands)
Remaining 2025$21,845 
202696,242 
202785,055 
202867,260 
202950,328 
Thereafter127,213 
v3.25.3
Debt and Short-Term Borrowings
 9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Debt and Short-Term Borrowings Debt and Short-Term Borrowings
Debt at September 30, 2025 and December 31, 2024 was as follows:
(In thousands)September 30, 2025December 31, 2024
2027 Term A Loan bearing interest at a variable interest rate (SOFR plus applicable margin(1)(2))
$409,475 $426,602 
2030 Term B Loan bearing interest at a variable interest rate (SOFR plus applicable margin(1)(3))
523,535 522,327 
Revolving Facility(4)
150,000 — 
Deferred consideration from business combinations6,681 9,895 
Note payable due on September 1, 2030(1)
6,060 6,519 
Total debt$1,095,751 $965,343 
 
(1)Net of unaccreted discount and unamortized debt issue costs, as applicable.
(2)Subject to a minimum rate ("SOFR floor") of 0.00% plus applicable margin of 1.75% at September 30, 2025 and 2.00% at December 31, 2024.
(3)Subject to a SOFR floor of 0.50% plus applicable margin of 2.25% at September 30, 2025 and 2.75% at December 31, 2024.
(4)Subject to a Prime rate of 7.25% plus applicable margin of 0.75% at September 30, 2025.

Secured Credit Facilities

On December 1, 2022, EVERTEC and EVERTEC Group, entered into a credit agreement with a syndicate of lenders and Truist Bank, as administrative agent and collateral agent, providing for a $415.0 million term loan A facility (the “TLA Facility”) that matures on December 1, 2027, and a $200.0 million revolving credit facility (the “Revolving Facility”) that matures on December 1, 2027 (the “Credit Agreement”). On October 30, 2023, EVERTEC and EVERTEC Group entered into a first amendment to the Credit Agreement with a syndicate of lenders and Truist, as administrative agent and collateral agent, providing for (i) additional term A loans in the amount of $60.0 million and a new tranche of term loan B commitments in the amount of $600.0 million maturing October 30, 2030 (the “TLB Facility”). On May 16, 2024, November 26, 2024 and August 12, 2025, EVERTEC and EVERTEC Group entered into second, third and fourth amendments to its Credit Agreement, each providing for a pricing reduction to its TLB Facility. Unless otherwise indicated, the terms and conditions detailed below apply to both TLA Facility and TLB Facility (together, the “Term Loan Facilities”).

At September 30, 2025, the unpaid principal balance of the TLA Facility and TLB Facility were $411.7 million and $540.0 million, respectively. At September 30, 2025 the outstanding balance of the Revolving Facility was $150.0 million and the additional borrowing capacity was $43.9 million, considering outstanding letters of credit. The Company issues letters of credit against the Revolving Facility which reduce the additional borrowing capacity of the Revolving Facility.

Deferred Consideration from Business Combinations

As part of the Company’s merger and acquisition activities, the Company may enter into agreements by which a portion of the purchase price is financed directly by the seller. At September 30, 2025 and December 31, 2024, the unpaid principal balance of these agreements amounted to $6.7 million and $9.9 million, respectively. Obligations bear interest at rates ranging from 6.2% to 13.0% with maturities ranging from October 2025 through March 2027. The current portion of the deferred consideration is included in accounts payable and the long-term portion is included in other long-term liabilities on the Company's unaudited condensed consolidated balance sheets.

Note Payable

In September 2023, EVERTEC Group entered into a non-interest bearing financing agreement amounting to $10.1 million to purchase software and maintenance which the Company recorded on a discounted basis using an implied interest rate of 6.9%. As of September 30, 2025, the outstanding principal balance of the note payable on a discounted basis was $6.1 million. The current portion of the note is included in accounts payable and the long-term portion is included in other long-term liabilities on the Company's unaudited condensed consolidated balance sheet.

Interest Rate Swaps
As of September 30, 2025, the Company has three interest rate swap agreements which convert a portion of the interest rate payments on the Company's Facilities from variable to fixed. The interest rate swaps are used to hedge the market risk from changes in interest rates corresponding with the Company's variable rate debt. The interest rate swaps are designated as cash flow hedges and are considered highly effective. Cash flows from the interest rate swaps are included in the accrued liabilities and accounts payable line item in the Company's unaudited condensed consolidated statements of cash flows. Changes in the fair value of the interest rate swaps are recognized in other comprehensive income (loss) until the gains or losses are reclassified to earnings. Gains or losses reclassified to earnings are presented within interest expense in the accompanying unaudited condensed consolidated statements of income and comprehensive income (loss).
Swap AgreementEffective date  Maturity Date  Notional Amount  Variable Rate  Fixed Rate
2023 SwapNovember 2024December 2027$250 million1-month SOFR3.375%
2024 SwapMarch 2024October 2027$150 million1-month SOFR4.182%
2024 SwapMarch 2024October 2027$150 million1-month SOFR4.172%

At September 30, 2025, the carrying amount of the derivatives included on the Company's unaudited condensed consolidated balance sheet was a liability of $5.2 million. At December 31, 2024, the carrying amount of the derivatives was an asset of $4.3 million and a liability of $1.4 million. The fair value of these derivatives are estimated using Level 2 inputs in the fair value hierarchy on a recurring basis. Refer to Note 8 - Equity for disclosure of gains (losses) recorded on cash flow hedging activities.

During the three and nine months ended September 30, 2025, the Company reclassified gains of $0.8 million and $2.3 million, from accumulated other comprehensive income (loss) into interest expense compared to gains of $2.5 million and $6.6 million for the corresponding periods in 2024. Based on expected SOFR rates, the Company expects to reclassify gains of $2.2 million from accumulated other comprehensive income (loss) into interest expense over the next 12 months.
v3.25.3
Financial Instruments and Fair Value Measurements
 9 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
Financial Instruments and Fair Value Measurements Financial Instruments and Fair Value Measurements
Recurring Fair Value Measurements

The following table presents assets and liabilities measured at fair value on a recurring basis at September 30, 2025 and December 31, 2024:

September 30, 2025
December 31, 2024
(In thousands)
Level 2
Level 3
Measured at NAV
Total
Level 2
Level 3
Measured at NAV
Total
Financial assets:
Debt securities AFS
$2,595 $— $— $2,595 $1,807 $— $— $1,807 
Equity securities
— — 6,250 6,250 — — 4,976 4,976 
Interest rate swaps
— — — — 4,338 — — 4,338 
Financial liabilities:
Interest rate swaps
5,155 — — 5,155 1,351 — — 1,351 

Debt Securities Available for Sale ("AFS")

Costa Rica government obligations are held by a trust in the Costa Rica National Bank as a collateral requirement for settlement activities. The Company may substitute securities as needed but must maintain certain levels of collateral based on transaction volumes. During the nine month period ended September 30, 2025, $1.0 million in debt securities matured and the Company purchased $1.8 million. No debt securities were sold during the nine month period ended September 30, 2025. During the nine-month period ended September 30, 2024, debt securities amounting to $0.4 million matured, while none were purchased or sold. A provision for credit losses was not required for either September 30, 2025 or 2024. The current portion of debt securities, if any, is included as part of prepaid and other assets on the unaudited condensed consolidated balance sheets.

The fair value of debt securities is estimated based on observable inputs through corroboration with market data at the measurement date, therefore classified as a Level 2 asset within the fair value hierarchy.

Interest rate swaps
The fair value of the Company's interest rate swaps are estimated using Level 2 inputs under the fair value hierarchy. Refer to Note 5 - Debt and Short-term Borrowings for additional information related to the derivative instruments.

Equity Securities Measured at Net Asset Value (NAV)

At September 30, 2025 and 2024, the Company holds mutual funds classified as equity securities on the Company's unaudited condensed consolidated balance sheet that are measured at fair value using the NAV per share, or its equivalent, as a practical expedient. Mutual funds consist of investments in venture capital strategies and start-ups with a focus on privately held technology companies. The NAV is based on the fair value of the underlying net assets owned by the mutual funds and the relative interest of each participating investor in the fair value of the underlying assets.

Financial assets and liabilities not measured at fair value

The following table presents the carrying value and estimated fair value for financial instruments at September 30, 2025 and December 31, 2024:
 September 30, 2025December 31, 2024
(In thousands)Carrying
Amount		Fair
Value		Carrying
Amount		Fair
Value
Financial liabilities:
2027 Term A Loan Facility$409,475 $411,704 $426,602 $433,890 
2030 Term B Loan Facility$523,535 $540,000 $522,327 $545,400 
Revolving Facility$150,000 $150,000 $— $— 
The fair value of the term loans and the revolving facility at September 30, 2025 and December 31, 2024 was obtained using prices provided by third party service providers. Their pricing is based on various inputs such as market quotes, recent trading activity in a non-active market or imputed prices. These inputs are considered Level 3 inputs under the fair value hierarchy. Also, the pricing may include the use of an algorithm that could take into account movements in the general high yield market, among other variants. The secured term loans are not accounted for at fair value in the balance sheet.
v3.25.3
Redeemable Noncontrolling Interests
 9 Months Ended
Sep. 30, 2025
Redeemable Noncontrolling Interest [Abstract]  
Redeemable Noncontrolling Interests Redeemable Noncontrolling Interests
At September 30, 2025, redeemable noncontrolling interests ("RNCI") consist of interests in consolidated subsidiaries for which the Company has entered into separate option contracts by which the Company has the right to purchase the remaining non-controlling interests through a call option and the non-controlling interest holder has the right to sell the non-controlling interest to the Company through a put option.

The following table summarizes the terms of the issued options:

Percentage of redeemable noncontrolling interestEarliest exercise dateFormula of redemption value
Rosk Software S.A.49%March 15, 2026Variable multiple of gross sales dependent upon EBITDA margin attained times percentage of ownership
Compliasset Software e Solucoes Digitais LTDA.40%March 15, 2026Variable multiple of net sales dependent upon EBITDA margin attained plus working capital, plus net debt times percentage of ownership
Lote45 Participacoes S.A.48%January 1, 2027
Variable multiple of net sales dependent upon EBITDA margin attained plus net debt minus BRL$10.0 million times percentage of ownership

Given certain provisions within the option contracts, the Company has classified the RNCI as mezzanine equity on the Company's unaudited condensed consolidated balance sheets. RNCI are adjusted quarterly, if necessary, to their estimated redemption value. Adjustments to the redemption value impact stockholders' equity. The following table presents changes in RNCI:

(In thousands)Redeemable noncontrolling interests
September 30, 2025December 31, 2024
Beginning balance$43,460 $36,968 
Net income attributable non-controlling interests1,845 2,535 
Acquisition of shares from non-controlling interest(7,276)— 
Adjustment of redeemable non-controlling interests to redemption value3,241 6,596 
Dividends declared on redeemable non-controlling interests— (2,898)
Distributions from redeemable non-controlling interests— (294)
Foreign currency translation adjustments12 553 
Ending balance$41,282 $43,460 
During the nine month period ended September 30, 2025, the Company purchased the remaining interest of approximately 40% in Homie Do Brasil Informatica. This transaction did not result in a change in control and was accounted for as an equity transaction, with a $1.0 million increase to additional paid-in capital reflected on the Company's unaudited condensed consolidated balance sheet for the difference between the carrying value of the redeemable noncontrolling interest at the date of purchase and the consideration paid. The payment of $5.2 million for the acquisition of the redeemable noncontrolling interest is classified as financing activity within the unaudited condensed consolidated statements of cash flows.
v3.25.3
Equity
 9 Months Ended
Sep. 30, 2025
Equity [Abstract]  
Equity Equity
Accumulated Other Comprehensive Loss

The following table provides a summary of the changes in the balances of accumulated other comprehensive loss for the nine months ended September 30, 2025: 
(In thousands)Foreign Currency
Translation
Adjustments		Cash Flow HedgesUnrealized Gains (Losses) on Debt Securities AFSTotal
Balance - December 31, 2024, net of tax$(138,004)$3,262 $19 $(134,723)
Other comprehensive income (loss) before reclassifications92,799 (4,202)15 88,612 
Effective portion reclassified to net income— (2,263)— (2,263)
Balance - September 30, 2025, net of tax$(45,205)$(3,203)$34 $(48,374)

Share Repurchase

On March 6, 2024, the Company entered into an accelerated share repurchase agreement (the “ASR”) with Bank of America, N.A. to repurchase an aggregate of $70 million of the Company’s common stock, par value $0.01 per share. In connection with the launch of the ASR, on March 8, 2024, the Company paid Bank of America, N.A., an aggregate of $70 million and received approximately 1.5 million shares of the Company’s common stock. On July 9, 2024, the Company completed the ASR transaction. In connection with the settlement of the ASR, the Company received 467,362 shares, in addition to the 1,516,793 shares received in March of 2024. No cash was exchanged as part of the settlement of the ASR. All of the shares received as part of the ASR were retired.
v3.25.3
Share-based Compensation
 9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Share-based Compensation Share-based Compensation
Long-term Incentive Plan ("LTIP")

During the periods ended March 31, 2023, 2024 and 2025, the Compensation Committee (the "Compensation Committee") of the Company's Board of Directors ("Board") approved grants of restricted stock units (“RSUs”) to executives and certain employees pursuant to the 2023 LTIP, 2024 LTIP and 2025 LTIP, respectively, all under the terms of the Company's 2022 Equity Incentive Plan. Under the LTIPs, the Company granted RSUs to eligible participants as time-based awards and/or performance-based awards.

The vesting of the RSUs is dependent upon service and/or performance conditions as defined in the award agreements. Employees that received time-based awards with service conditions are entitled to receive a specific number of shares of the Company’s common stock on the vesting date if the employee provides services to the Company through the vesting date. Time-based awards generally vest over a period of three years in substantially equal installments commencing on the grant date and ending on February 24 of each year for the 2023 LTIP, February 28 of each year for the 2024 LTIP and February 28 of each year for the 2025 LTIP. In 2023, the Company also granted time-based awards with a three year service vesting period which will cliff vest on February 24, 2026.

For the performance-based awards under the 2023 LTIP, 2024 LTIP, and 2025 LTIP, the Compensation Committee established adjusted earnings before interest, income taxes, depreciation and amortization ("Adjusted EBITDA") as the primary performance measure while maintaining focus on total shareholder return through the use of a market-based total shareholder return ("TSR") performance modifier. The Adjusted EBITDA measure is based on annual Adjusted EBITDA targets and can result in a payout between 0% and 200%, depending on the performance level. The TSR modifier adjusts the shares earned based on the Adjusted EBITDA performance upwards or downwards (+/- 25%) based on the Company’s relative TSR at the end of the three-year performance period as compared to the companies in the Russell 2000 Index. The Adjusted EBITDA performance measure will be calculated for the one-year period commencing on January 1 of the year of the grant and ending on December 31 of the same year, relative to the goals set by the Compensation Committee for this same period. The shares earned will be subject to an additional two-year service vesting period and will vest on February 24, 2026 for the 2023 LTIP and February 28, 2027 for the 2024 LTIP and February 28, 2028 for the 2025 LTIP. Unless otherwise specified in the award agreement, or in an employment agreement, awards are forfeited if the employee voluntarily ceases to be employed by the Company prior to vesting.

The following table summarizes nonvested RSUs activity for the nine months ended September 30, 2025:
Nonvested RSUsSharesWeighted-average
grant date fair value
Nonvested at December 31, 20242,004,264 $38.71 
Granted856,615 39.13 
Vested(707,788)39.71 
Forfeited(99,812)38.92 
Nonvested at September 30, 20252,053,279 $38.57 

For the three and nine months ended September 30, 2025, the Company recognized $7.7 million and $22.2 million of share-based compensation expense, compared with $7.4 million and $22.4 million for the corresponding period in 2024.
As of September 30, 2025, the maximum unrecognized cost for RSUs was $46.8 million. The cost is expected to be recognized over a weighted average period of 2.0 years.
v3.25.3
Revenues
 9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenues Revenues
Disaggregation of Revenue

The Company disaggregates revenue from contracts with customers into primary geographical markets, nature of the products and services, and timing of transfer of goods and services. The Company's operating segments are determined by the nature of the products and services the Company provides and the primary geographical markets in which the Company operates. Revenue disaggregated by segment is discussed in Note 15 - Segment Information.

In the following tables, revenue for each segment, excluding intersegment revenues, is disaggregated by timing of revenue
recognition for the periods indicated.

Three months ended September 30, 2025
(In thousands)Payment Services - Puerto Rico & CaribbeanLatin America Payments and SolutionsMerchant Acquiring, netBusiness SolutionsTotal
Timing of revenue recognition
Products and services transferred at a point in time$53 $1,918 $— $2,173 $4,144 
Products and services transferred over time36,687 81,497 46,753 59,506 $224,443 
$36,740 $83,415 $46,753 $61,679 $228,587 


Three months ended September 30, 2024
(In thousands)Payment Services - Puerto Rico & CaribbeanLatin America Payments and SolutionsMerchant Acquiring, netBusiness SolutionsTotal
Timing of revenue recognition
Products and services transferred at a point in time$42 $1,258 $— $766 $2,066 
Products and services transferred over time34,645 69,310 45,437 60,337 209,729 
$34,687 $70,568 $45,437 $61,103 $211,795 
Nine months ended September 30, 2025
(In thousands)Payment Services - Puerto Rico & CaribbeanLatin America Payments and SolutionsMerchant Acquiring, netBusiness SolutionsTotal
Timing of revenue recognition
Products and services transferred at a point in time$134 $5,616 $— $7,766 $13,516 
Products and services transferred over time112,036 235,744 141,694 183,996 673,470 
$112,170 $241,360 $141,694 $191,762 $686,986 

Nine months ended September 30, 2024
(In thousands)Payment Services - Puerto Rico & CaribbeanLatin America Payments and SolutionsMerchant Acquiring, netBusiness SolutionsTotal
Timing of revenue recognition
Products and services transferred at a point in time$152 $2,811 $— $4,894 $7,857 
Products and services transferred over time103,292 207,414 133,855 176,673 621,234 
$103,444 $210,225 $133,855 $181,567 $629,091 


Revenue concentration with a single customer, Popular, as a percentage of total revenues for the quarters ended September 30, 2025 and 2024 was approximately 29% and 32%, respectively. For the nine months ended September 30, 2025 and 2024 this percentage was approximately 30% and 31%, respectively. Accounts receivable from Popular at September 30, 2025 and December 31, 2024 amounted to $39.0 million and $37.5 million, respectively.

Contract Balances

Contract assets of the Company arise when the Company has a contract with a customer for which revenue has been recognized (i.e., goods or services have been transferred), but the customer payment is subject to a future event (i.e., satisfaction of additional performance obligations). Contract assets will be considered a receivable when the rights to consideration of the Company become unconditional (i.e., the Company has a present right to payment). Contract assets at September 30, 2025 and December 31, 2024 amounted to $14.6 million and $11.4 million, respectively. The current portion of contract assets is recorded as part of prepaid expenses and other assets, and the long-term portion is included in other long-term assets in the unaudited condensed consolidated balance sheets.

Contract liability and Contract liability- long term, at September 30, 2025 amounted to $22.9 million and $48.9 million, respectively. Contract liability and Contract liability- long term, at December 31, 2024 amounted to $25.3 million and $55.0 million, respectively. Contract liability is mainly comprised of upfront fees for implementation or set up activities, including fees invoiced in pre-production periods in connection with hosting services, as well as amounts related to contracts entered into concurrently with the close of the sale to Popular Transaction in fiscal year 2022. Contract liability may also arise when consideration is received or due in advance from customers prior to performance. During the three and nine month period ended September 30, 2025, the Company recognized revenue of $5.4 million and $23.8 million, respectively that was included in the contract liability at December 31, 2024. During the three and nine months ended September 30, 2024, the Company recognized revenue of $6.2 million and $21.3 million, respectively, that was included in the contract liability at December 31, 2023.

Transaction price allocated to the remaining performance obligations

Revenues from recurring transaction-based and processing services represent the majority of the Company’s total revenue. The Company recognizes revenues from recurring transaction-based and processing services over time at the amounts in which the Company has right to invoice, which corresponds directly to the value to the customer of the Company’s performance completed to date.
The Company has elected to apply the practical expedient permitted under ASC 606, when applicable. Under this practical expedient, the Company is not required to disclose information about remaining performance obligations if the performance obligation is part of a contract with an original expected duration of one year or less or if the Company recognizes revenue at the amount which it has a right to invoice. The Company also applies the practical expedient for variable consideration when the variable consideration is allocated entirely to a wholly unsatisfied performance obligation or to a wholly unsatisfied promise to transfer a distinct good or service that forms part of a single performance obligation.
For contracts excluded from the application of the practical expedients noted above, the estimated aggregate amount of the transaction price allocated to performance obligations that are unsatisfied or partially satisfied at September 30, 2025 was $724.8 million, which is expected to be recognized over the next 5 to 7 years
v3.25.3
Current Expected Credit Losses
 9 Months Ended
Sep. 30, 2025
Receivables [Abstract]  
Current Expected Credit Losses Current Expected Credit Losses
Allowance for Current Expected Credit Losses

Trade receivables from contracts with customers are financial assets analyzed by the Company under the expected credit loss model. To measure expected credit losses, trade receivables are grouped based on shared risk characteristics (i.e., the relevant industry sector and customer's geographical location) and days past due (i.e., delinquency status), while considering the following:

•Customers in the same geographical location share similar risk characteristics associated with the macroeconomic environment of their country.
•The Company has two main industry sectors: private and government. The private pool is comprised mainly of leading financial institutions, merchants and corporations, while the governmental pool is comprised of government agencies. The governmental customers possess different risk characteristics than private customers because although all invoices are due 30 days after issuance, governmental customers usually pay within 60 to 90 days after issuance.
•The expected credit loss rate is likely to increase as receivables move to older aging buckets. The Company used the following aging categories to estimate the risk of delinquency status: (i) 0 days past due; (ii) 1-30 days past due; (iii) 31-60 days past due; (iv) 61-90 days past due; and (v) over 90 days past due.

The credit losses of the Company’s trade receivables have been historically low and most balances are collected within one year. Therefore, the Company determined that the expected loss rates should be calculated using the historical loss rates adjusted by macroeconomic factors. The historical rates are calculated for each of the aging categories used for pooling trade receivables. To determine the collected portion of each bucket, the collection time of each trade receivable is identified, to estimate the proportion of outstanding balances per aging bucket that ultimately will not be collected. This is used to determine the expectation of losses based on the history of uncollected trade receivables once the specific past due period is surpassed. The historical rates are adjusted to reflect current and forward-looking information on macroeconomic factors affecting the ability of customers to settle the receivables by applying a country risk premium as the forward-looking macroeconomic factor. Specific reserves are established for certain customers for which collection is doubtful.

Rollforward of the Allowance for Expected Current Credit Losses

The following table provides information about the allowance for expected current credit losses on trade receivables for the nine months ended September 30, 2025 and the year ended December 31, 2024:
(In thousands)September 30, 2025December 31, 2024
Balance at beginning of period$2,856 $4,010 
Current period provision for expected credit losses82 921 
Write-offs(322)(2,088)
Recoveries of amounts previously written-off3 13 
Balance at end of period$2,619 $2,856 

The Company does not have a delinquency threshold for writing-off trade receivables. The Company has a formal process for the review and approval of write-offs.

Impairment losses on trade receivables are presented as net impairment losses within cost of revenue, exclusive of depreciation and amortization in the unaudited condensed consolidated statements of income and comprehensive income (loss). Subsequent
recoveries of amounts previously written-off, when applicable, are credited against the allowance for expected current credit losses within accounts receivable, net on the unaudited condensed consolidated balance sheets.
v3.25.3
Income Tax
 9 Months Ended
Sep. 30, 2025
Income Tax Disclosure [Abstract]  
Income Tax Income Tax
The components of income tax expense for the three and nine months ended September 30, 2025 and 2024, respectively, consisted of the following:
 Three months ended September 30,Nine months ended September 30,
(In thousands)2025202420252024
Current tax provision $8,187 $8,658 $27,119 $23,375 
Deferred tax benefit(8,218)(6,951)(18,944)(20,275)
Income tax (benefit) expense$(31)$1,707 $8,175 $3,100 

The Company conducts operations in Puerto Rico, the United States, and certain countries in Latin America. As a result, the income tax expense includes the effect of taxes paid to the government of Puerto Rico as well as foreign jurisdictions. The following table presents the components of income tax expense for the three and nine months ended September 30, 2025 and 2024, and its segregation based on location of operations:
 Three months ended September 30,Nine months ended September 30,
(In thousands)2025202420252024
Current tax provision
Puerto Rico$1,713 $1,575 $4,755 $3,905 
United States481 99 1,299 228 
Foreign countries5,993 6,984 21,065 19,242 
Total current tax provision $8,187 $8,658 $27,119 $23,375 
Deferred tax benefit
Puerto Rico$(3,445)$(3,659)$(9,704)$(10,984)
United States(48)(2)(176)— 
Foreign countries(4,725)(3,290)(9,064)(9,291)
Total deferred tax benefit$(8,218)$(6,951)$(18,944)$(20,275)

Taxes payable to foreign countries by EVERTEC’s subsidiaries are paid by such subsidiary and the corresponding liability and expense is presented in EVERTEC’s unaudited condensed consolidated financial statements.

As of September 30, 2025, the Company had $192.5 million of unremitted earnings from foreign subsidiaries, compared to $165.2 million as of December 31, 2024. The Company has not recognized a deferred tax liability on undistributed earnings for the Company’s foreign subsidiaries because these earnings are intended to be indefinitely reinvested.

As of September 30, 2025, the gross deferred tax asset amounted to $98.4 million and the gross deferred tax liability amounted to $87.2 million, compared to $74.3 million and $79.9 million, respectively, as of December 31, 2024. As of September 30, 2025, and December 31, 2024, there is a valuation allowance against the gross deferred tax asset of approximately $6.0 million and $5.3 million, respectively.

The Company estimates that it is reasonably possible that the liability for uncertain tax position created from acquisitions in foreign jurisdictions will decrease by approximately $2.6 million in the next 12 months as a result of the expiration of the statute of limitations.

Income tax expense differs from the amount computed by applying the Puerto Rico statutory income tax rate to the income before income taxes as a result of the following:
 Nine months ended September 30,
(In thousands)20252024
Computed income tax at statutory rates$43,389 $28,954 
Differences in tax rates due to multiple jurisdictions1,644 3,832 
Effect of income subject to tax-exemption grant(37,482)(28,926)
Unrecognized tax expense(65)(1,098)
Excess tax benefits on share-based compensation176 (494)
Other, net 513 832 
Income tax expense$8,175 $3,100 
v3.25.3
Net Income Per Common Share
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Net Income Per Common Share Net Income Per Common Share
The reconciliation of the numerator and the denominator of net income per common share is as follows:
 Three months ended September 30,Nine months ended September 30,
(In thousands, except per share information)2025202420252024
Net income available to EVERTEC, Inc.’s common shareholders$32,861 $24,678 $106,029 $72,558 
Weighted average common shares outstanding63,982,424 63,944,132 63,917,639 64,512,868 
Weighted average potential dilutive common shares (1)
783,876 774,997 774,902 804,080 
Weighted average common shares outstanding - assuming dilution64,766,300 64,719,129 64,692,541 65,316,948 
Net income per common share - basic$0.51 $0.39 $1.66 $1.12 
Net income per common share - diluted$0.51 $0.38 $1.64 $1.11 
 
(1)Potential common shares consist of common stock issuable under RSUs awards using the treasury stock method.
On February 20, 2025, May 2, 2025, and July 24, 2025, respectively the Company's Board declared quarterly cash dividends of $0.05 per share of common stock, which were paid on March 21, 2025, June 6, 2025, and September 5, 2025, respectively to stockholders of record as of March 3, 2025, May 13, 2025 and August 4, 2025, respectively.
v3.25.3
Commitments and Contingencies
 9 Months Ended
Sep. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
As previously disclosed in the Company's Current Report on Form 8-K, dated September 2, 2025, on August 29, 2025, Sinqia, a Brazilian subsidiary of EVERTEC, identified unauthorized activity in its environment of the Brazilian Central Bank (“BCB”) real-time payment system known as Pix. In response, Sinqia promptly halted transaction processing, engaged external cybersecurity forensic experts, and notified relevant authorities and affected customers. The incident was limited to business-to-business financial transactions involving two financial institution customers. On September 15, 2025 Sinqia received authorization from the BCB to resume Pix operations. Sinqia's Pix environment is currently operational and all customers are utilizing the system.

The Company has recorded estimated liabilities associated with potential contractual claims related to client losses and for expenses incurred by the Company in connection with legal fees, forensic analysis and other professional services.

In addition to the Pix incident in Brazil, EVERTEC is a defendant in a number of legal proceedings arising in the ordinary course of business. Based on the opinion of legal counsel and other factors, management believes that the final disposition of these matters will not have a material adverse effect on the business, results of operations, financial condition, or cash flows of the Company. The Company has also identified other claims in which a loss may be incurred, but in the aggregate the loss would be inconsequential. For other claims, where the proceedings are in an initial phase, the Company is unable to estimate the range of possible loss, if any, at this time, but management believes that any loss related to such claims will not be material.
v3.25.3
Segment Information
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company operates in four operating and reportable business segments: Payment Services - Puerto Rico & Caribbean, Latin America Payments and Solutions, Merchant Acquiring, and Business Solutions based upon organization of the Company by the nature of products and services provided to customers and geography.

The Payment Services - Puerto Rico & Caribbean segment revenues are comprised of revenues related to providing access to the ATH debit network and other card networks to financial institutions, including related services such as authorization, processing, management and recording of ATM and point of sales (POS) transactions, and ATM management and monitoring. The segment revenues also include revenues from card processing services (such as credit and debit card processing, authorization and settlement and fraud monitoring and control to debit or credit issuers), payment processing services (such as payment and billing products for merchants, businesses and financial institutions), ATH Movil (person-to-person) and ATH Business (person-to-merchant) digital transactions and EBT (which principally consist of services to the government of Puerto Rico for the delivery of benefits to participants). For ATH debit network and processing services, revenues are primarily driven by the number of transactions processed. Revenues are derived primarily from network fees, transaction switching and processing fees, and the leasing of POS devices. For card issuer processing, revenues are primarily dependent upon the number of cardholder accounts on file, transactions and authorizations processed, the number of cards embossed and other processing services. For EBT services, revenues are primarily derived from the number of beneficiaries on file.

The Latin America Payments and Solutions segment payment revenues consist of revenues related to providing access to the ATH network of ATMs and other card networks to financial institutions, including related services such as authorization, processing, management and recording of ATM and POS transactions, and ATM management and monitoring. The segment revenues also include revenues from card processing services (such as credit and debit card processing, authorization and settlement and fraud monitoring and control to debit or credit issuers), payment processing services (such as payment and billing products for merchants, businesses and financial institutions), as well as licensed software solutions for risk and fraud management and card payment processing. For network and processing services, revenues are primarily driven by the number of transactions processed. Revenues are derived primarily from transaction switching, processing fees, and the leasing of POS devices. For card issuer processing, revenues are primarily dependent upon the number of cardholder accounts on file, transactions and authorizations processed, the number of cards embossed, and other processing services. Solutions revenues consist of (a) licensing, support and maintenance (“subscription”), implementation and customization of software used to provide financial products in areas such as core banking, credit, investments, payments, foreign exchange, mutual funds, pension funds and consortium, in addition to software used to execute processes such as digital onboarding, digital signature and digital collection; and (b) outsourcing of mission critical IT services. Revenues are based on monthly fixed fees and, in several cases, variable fees based on usage.

The Merchant Acquiring segment consists of revenues from services that allow merchants to accept electronic methods of payment. In the Merchant Acquiring segment, revenues include a discount fee and membership fees charged to merchants, debit network fees and rental fees from POS devices and other equipment, net of credit card interchange and assessment fees charged by credit cards associations (such as VISA or MasterCard) or payment networks. The discount fee is generally a percentage of the transaction value. EVERTEC also charges merchants for other services that are unrelated to the number of transactions or the transaction value.

The Business Solutions segment consists of revenues from a full suite of business process management solutions in various product areas such as core bank processing, network hosting, managed services and managed security services, IT professional services, business process outsourcing, item processing, cash processing, and fulfillment. Core bank processing and network services revenues are derived in part from a recurrent fixed fee and from fees based on the number of accounts on file (i.e., savings or checking accounts, loans, etc.), server capacity usage or computer resources utilized. Revenues from other processing services within the Business Solutions segment are generally volume-based and depend on factors such as the number of accounts processed. In addition, EVERTEC is a reseller of hardware and software products and these resale transactions are generally non-recurring.

The Company’s Chief Operating Decision Maker ("CODM") is the President and Chief Executive Officer (“CEO”). The CODM uses revenue and Segment Adjusted EBITDA to evaluate segment performance and allocate resources, and regularly reviews performance at the segment level against budget and forecast when making decisions about the allocation of resources to each segment. Segment Adjusted EBITDA reviewed by the CODM is calculated as EBITDA further adjusted to exclude certain non-cash unrealized items and unusual expenses such as: share-based compensation, restructuring related expenses, fees and expenses from corporate transactions such as M&A activity and financing, equity investment income net of dividends received, and the impact from non-cash unrealized gains and losses on foreign currency remeasurement for assets and liabilities in non-functional currency. Segment Adjusted EBITDA is presented in conformity with ASC Topic 280, Segment Reporting, given that it is used by the CODM for purposes of evaluating performance and allocating resources.
Expense information that is regularly provided to the CODM on a consolidated financial statement basis include personnel costs, professional fees, equipment expenses and cost of sales, adjusted primarily for the impact of share-based compensation, restructuring related expenses, and fees and expenses from corporate transactions such as M&A activity and financing.

The Company does not report assets or other balance sheet information to the CODM on a segment basis as the Company’s CODM does not assess performance, make strategic decisions, or allocate resources based on this information. No segment expense information is regularly provided to the CODM and therefore the Company does not report significant segment expenses.

The following tables set forth information about the Company’s operations by its four reportable segments for the periods indicated:
Three Months Ended September 30, 2025
(In thousands)Payment
Services -
Puerto Rico & Caribbean		Latin America Payments and SolutionsMerchant
Acquiring, net		Business
Solutions		Total Reportable Segments
Total revenues$36,740 $83,415 $46,753 $61,679 $228,587 
Intersegment revenues18,504 6,963 — — 25,467 
Total segment revenues(1)
55,244 90,378 46,753 61,679 254,054 
Less: Other segment items(2)
(25,370)(65,952)(28,142)(36,579)(156,043)
Segment Adjusted EBITDA$29,874 $24,426 $18,611 $25,100 $98,011 
(1)Total segment revenues include intersegment revenues eliminated on a consolidated basis.   Intersegment revenue eliminations predominantly reflect the $14.9 million processing fee from Payments Services - Puerto Rico & Caribbean to Merchant Acquiring, intercompany software developments and transaction-processing of $7.0 million from Latin America Payments and Solutions to both Payment Services- Puerto Rico & Caribbean and Business Solutions, and transaction-processing and monitoring fees of $3.6 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, foreign currency remeasurement for assets and liabilities in non-functional currency, and expenses from other transactions as defined in the Credit Agreement to determine Segment Adjusted EBITDA.

Three Months Ended September 30, 2024
(In thousands)Payment
Services -
Puerto Rico & Caribbean		Latin America Payments and SolutionsMerchant
Acquiring, net		Business
Solutions		Total Reportable Segments
Total revenues$34,687 $70,568 $45,437 $61,103 $211,795 
Intersegment revenues18,068 5,461 — — 23,529 
Total segment revenues(1)
52,755 76,029 45,437 61,103 235,324 
Less: Other segment items(2)
(24,403)(55,289)(27,210)(35,599)(142,501)
Segment Adjusted EBITDA28,352 20,740 18,227 25,504 92,823 
(1)Total segment revenues include intersegment revenues eliminated on a consolidated basis.  Intersegment revenue eliminations predominantly reflect the $14.4 million processing fee from Payments Services - Puerto Rico & Caribbean to Merchant Acquiring, intercompany software developments and transaction-processing of $5.5 million from Latin America Payments and Solutions to both Payment Services - Puerto Rico & Caribbean and Business Solutions, and transaction-processing and monitoring fees of $3.7 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 other transactions as defined in the Credit Agreement to determine Segment Adjusted EBITDA.
Nine months ended September 30, 2025
(In thousands)Payment
Services -
Puerto Rico & Caribbean		Latin America Payments and SolutionsMerchant
Acquiring, net		Business
Solutions		Total Reportable Segments
Total revenues$112,170 $241,360 $141,694 $191,762 $686,986 
Intersegment revenues54,652 18,848 — — 73,500 
Total segment revenues(1)
166,822 260,208 141,694 191,762 760,486 
Less: Other segment items(2)
(72,482)(187,537)(82,722)(118,419)(461,160)
Segment Adjusted EBITDA94,340 72,671 58,972 73,343 299,326 
(1)Total segment revenues include intersegment revenues eliminated on a consolidated basis.  Intersegment revenue eliminations predominantly reflect the $44.1 million processing fee from Payments Services - Puerto Rico & Caribbean to Merchant Acquiring, intercompany software developments and transaction-processing of $18.8 million from Latin America Payments and Solutions to both Payment Services - Puerto Rico & Caribbean and Business Solutions, and transaction-processing and monitoring fees of $10.6 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, foreign currency remeasurement for assets and liabilities in non-functional currency, and expenses from other transactions as defined in the Credit Agreement to determine Segment Adjusted EBITDA.


Nine months ended September 30, 2024
(In thousands)Payment
Services -
Puerto Rico & Caribbean		Latin America Payments and SolutionsMerchant
Acquiring, net		Business
Solutions		Total Reportable Segments
Total revenues$103,444 $210,225 $133,855 $181,567 $629,091 
Intersegment revenues56,541 14,689 — — 71,230 
Total segment revenues(1)
159,985 224,914 133,855 181,567 700,321 
Less: Other segment items(2)
(69,923)(170,377)(81,160)(103,255)(424,715)
Segment Adjusted EBITDA90,062 54,537 52,695 78,312 275,606 
(1)Total segment revenues include intersegment revenues eliminated on a consolidated basis. Intersegment revenue eliminations predominantly reflect the $43.2 million processing fee from Payments Services - Puerto Rico & Caribbean to Merchant Acquiring, intercompany software developments and transaction-processing of $14.7 million from Latin America Payments and Solutions to both Payment Services - Puerto Rico & Caribbean and Business Solutions, and transaction-processing and monitoring fees of $13.4 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 other transactions as defined in the Credit Agreement to determine Segment Adjusted EBITDA.



The reconciliation of Segment Adjusted EBITDA to consolidated income before income taxes is as follows:
 Three months ended September 30,Nine months ended September 30,
(In thousands)2025202420252024
Segment Adjusted EBITDA$98,011 $92,823 $299,326 $275,606 
Elimination of intersegment revenues(25,467)(23,529)(73,500)(71,230)
Other corporate expenses(1)
20,069 18,095 48,789 47,242 
Compensation and benefits(2)
(8,319)(7,595)(27,727)(23,186)
Transaction, refinancing and other fees(3)
(7,723)(1,176)(7,347)(165)
Earnings of equity method investments, net of dividends received(2,129)(1,929)815 238 
(Loss) gain on foreign currency remeasurement(4)
(60)(1,112)455 (3,164)
Interest income4,016 3,696 10,346 10,274 
Interest expense(16,534)(18,704)(50,241)(57,352)
Depreciation and amortization(28,435)(33,660)(85,217)(101,051)
Income before income taxes$33,429 $26,909 $115,699 $77,212 
(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 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.
v3.25.3
Supplemental Statement of Cash Flows Information
 9 Months Ended
Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Supplemental Statement of Cash Flows Information Supplemental Statement of Cash Flows Information
Supplemental statement of cash flows information is as follows:
Nine Months Ended September 30,
(In thousands)20252024
Supplemental disclosure of cash flow information:
Cash paid for interest $47,477 $55,024 
Cash paid for income taxes 27,555 17,917 
Supplemental disclosure of non-cash activities:
Payable due to vendor related to equipment and software acquired7,387 5,129 
Right-of-use assets obtained in exchange for operating lease liabilities2,219 2,925 
Non-cash investing activities
Capital contribution in-kind to investment in equity investee— 6,000 
Trade-in of equipment— 2,193 

Reconciliation of cash, cash equivalents, restricted cash and cash included in settlement assets as presented on the cash flow statement was as follows:
September 30,
(In thousands)20252024
Cash and cash equivalents$474,738 $275,359 
Restricted cash24,998 25,663 
Cash and cash equivalents included in settlement assets8,243 25,260 
Cash, cash equivalents, restricted cash and cash included in settlement assets507,979 326,282 
v3.25.3
Subsequent Events
 9 Months Ended
Sep. 30, 2025
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
On October 1, 2025, Evertec Brasil Informática S.A. (“Evertec BR”), a wholly-owned subsidiary of EVERTEC, Inc., completed the previously announced purchase of 75% of the share capital of Tecnobank Tecnologia Bancária S.A. (“Tecnobank”). Tecnobank is a leading fintech vendor in Brazil’s digital vehicle financing contract registration sector. The
aggregate purchase price for the shares was BRL$787 million or approximately USD$148 million. This transaction enhances the Company's existing product offerings.

On October 23, 2025, the Board declared a regular quarterly cash dividend of $0.05 per share on the Company’s outstanding shares of common stock. The dividend is expected to be paid on December 5, 2025 to stockholders of record as of the close of business on November 3, 2025. The Board anticipates declaring this dividend in future quarters on a regular basis; however future declarations of dividends are subject to the Board’s approval and may be adjusted as business needs or market conditions change.
v3.25.3
Insider Trading Arrangements
 3 Months Ended
Sep. 30, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.3
The Company and Basis of Presentation and Recent Accounting Pronouncements (Policies)
 9 Months Ended
Sep. 30, 2025
Accounting Policies [Abstract]  
The Company
The Company

EVERTEC, Inc. and its subsidiaries (collectively the “Company” or “EVERTEC”) is a leading full-service transaction processing business and financial technology provider in Latin America and the Caribbean. The Company is based in Puerto Rico and provides a broad range of merchant acquiring, payment processing and business process management services across 26 countries in the region. EVERTEC owns and operates the ATH network, which we believe is one of the leading personal identification number (“PIN”) debit networks in the Caribbean and Latin America. In addition, EVERTEC provides a comprehensive suite of services for core bank processing and cash processing in Puerto Rico and technology outsourcing in the regions the Company serves. EVERTEC serves a broad and diversified customer base of leading financial institutions, merchants, corporations, and government agencies with solutions that are essential to their operations, enabling them to issue, process and accept transactions securely.
Basis of Presentation
Basis of Presentation

The unaudited condensed consolidated financial statements of EVERTEC have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. The preparation of the accompanying unaudited condensed consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the unaudited condensed consolidated financial statements. Actual results could differ from these estimates.

Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted from these statements pursuant to the rules and regulations of the Securities and Exchange Commission and, accordingly, these unaudited condensed consolidated financial statements should be read in conjunction with the Audited Consolidated Financial Statements of the Company for the year ended December 31, 2024, included in the Company’s 2024 Annual Report on Form 10-K. In the opinion of management, the accompanying unaudited condensed consolidated financial statements, prepared in accordance with GAAP, contain all adjustments necessary for a fair presentation. Intercompany accounts and transactions are eliminated in consolidation. Certain amounts from prior periods have been reclassified to conform to the current period presentation.
Recently issued accounting pronouncements not adopted
Recently issued accounting pronouncements not adopted

In May 2025, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2025-03 Determining the Accounting Acquirer in the Acquisition of a Variable Interest Entity to update Business Combinations (Topic 805) and Consolidation (Topic 810). The amendments in this update require an entity involved in an acquisition transaction that include an exchange of equity interests when the acquiree is a variable interest entity to consider the factors in paragraphs 805-10-55-12 through 55-15 to determine which entity is the accounting acquirer. The amendments in this update are effective for fiscal years beginning after December 15, 2026, and interim reporting periods within those annual reporting periods. Early adoption is permitted. The Company is currently evaluating the impact of this update on its consolidated financial statements and related disclosures and will apply the updated guidance upon the effective date.

In May 2025, the FASB issued ASU 2025-04 Clarifications to Share-Based Consideration Payable to a Customer amending Compensation—Stock Compensation (Topic 718) and Revenue from Contracts with Customers (Topic 606). The amendment updates the master glossary definition of the term performance condition for share-based consideration payable to a customer. The revised definition incorporates conditions that are based on the volume or monetary amount of a customer’s purchases of goods or services. The revised definition also incorporates performance targets based on purchases made by other parties that purchase the Company’s goods or services from the grantor’s customers. The revised definition of the term performance condition cannot be applied to awards granted to employees and nonemployees in exchange for goods or services to be used or consumed in the Company’s own operations. The amendments in this update are effective for fiscal years beginning after December 15, 2026. The amendments in this update permit a company to apply the new guidance on either a modified retrospective or a retrospective basis. Early adoption is permitted. The Company is currently evaluating the impact of this update on its consolidated financial statements and related disclosures and will apply the updated guidance upon the effective date.

In July 2025, the FASB issued ASU 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. This update provides a practical expedient for all entities to simplify the estimation of expected credit losses for current accounts receivable and contract assets arising from revenue transactions under ASC 606. Under the practical expedient, entities may assume that current conditions as of the balance sheet date remain
unchanged over the remaining life of the asset when developing reasonable and supportable forecasts. The update is effective for fiscal years beginning after December 15, 2025. Early adoption is permitted. The Company is currently evaluating the impact of this update on its consolidated financial statements and related disclosures and will apply the updated guidance upon the effective date.
In September 2025, the FASB issued ASU 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. This update introduces a principles-based capitalization model that replaces the previous stage-based guidance. Under the new model, capitalization of internal-use software costs begins when management authorizes and commits to funding the project, and it is probable the software will be completed and used as intended. The update also consolidates guidance for website development costs previously included in ASC 350-50 into ASC 350-40, and clarifies that the guidance applies to both on-premise and cloud-based software. The ASU is effective for fiscal years beginning after December 15, 2026. Early adoption is permitted. The Company is currently evaluating the impact of this update on its consolidated financial statements and related disclosures and will apply the updated guidance upon the effective date.
v3.25.3
Business Acquisition (Tables)
 9 Months Ended
Sep. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of fair value of assets acquired and liabilities assumed The purchase price allocation is as follows:
Assets/Liabilities (at fair value)
( In thousands)
Cash and cash equivalents$9,862 
Accounts receivable, net2,701 
Prepaid expenses and other assets836 
Goodwill13,771 
Other intangible assets, net18,310 
Total assets acquired45,480 
Accounts payable5,676 
Accrued liabilities604 
Income tax payable837 
Deferred tax liability5,044 
Total liabilities assumed12,161 
Additional paid-in capital33,319 
Total liabilities and equity$45,480 
Schedule of intangible assets acquired and weighted average amortization period
The following table details the major groups of intangible assets acquired and the weighted average amortization period for these assets:

AmountWeighted-average life
(Dollar amounts in thousands)
Customer relationships$11,900 15
Trademark1,440 3
Software packages4,970 5
Total$18,310 11
The following table details the major groups of intangible assets acquired and the weighted average amortization period for these assets:

AmountWeighted-average life
(Dollar amounts in thousands)
Customer relationships$4,370 15
Trademark365 3
Total$4,735 14
v3.25.3
Property and Equipment, net (Tables)
 9 Months Ended
Sep. 30, 2025
Property, Plant and Equipment [Abstract]  
Summary of property and equipment, net
Property and equipment, net consisted of the following:
(Dollar amounts in thousands)Useful life
in years		September 30, 2025December 31, 2024
Buildings30$2,209 $2,105 
Data processing equipment
3 - 5
203,763 189,172 
Furniture and equipment
3 - 10
11,479 10,413 
Leasehold improvements
5 -10
5,469 5,059 
222,920 206,749 
Less - accumulated depreciation and amortization(161,255)(146,185)
Depreciable assets, net61,665 60,564 
Land1,519 1,495 
Property and equipment, net$63,184 $62,059 
v3.25.3
Goodwill and Other Intangible Assets (Tables)
 9 Months Ended
Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of changes in carrying amount of goodwill allocated by reportable segments
The changes in the carrying amount of goodwill, allocated by reporting unit, were as follows (see Note 15):
(In thousands)Payment
Services -
Puerto Rico & Caribbean		Latin America Payments and SolutionsMerchant
Acquiring, net		Business
Solutions		Total
Balance at December 31, 2024$160,972 $387,798 $138,121 $40,010 $726,901 
Measurement period adjustment for prior year acquisitions— 519 — — 519 
Foreign currency translation adjustments— 52,251 — — 52,251 
Balance at September 30, 2025$160,972 $440,568 $138,121 $40,010 $779,671 
Summary of carrying amount of other intangible assets
The carrying amount of other intangible assets at September 30, 2025 and December 31, 2024 was as follows:
  September 30, 2025
(Dollar amounts in thousands)Useful life in yearsGross
amount		Accumulated
amortization		Net carrying
amount
Customer relationships
5 - 20
$558,913 $(401,973)$156,940 
Trademarks
3 - 15
90,609 (56,734)33,875 
Software packages
3 - 10
569,719 (314,961)254,758 
Non-compete agreement53,691 (1,321)2,370 
Other intangible assets, net$1,222,932 $(774,989)$447,943 

  December 31, 2024
(Dollar amounts in thousands)Useful life in years Gross
amount		Accumulated
amortization		Net carrying
amount
Customer relationships
5 - 20
$533,203 $(374,474)$158,729 
Trademarks
3 - 15
84,008 (48,204)35,804 
Software packages
3 - 10
515,404 (281,550)233,854 
Non-compete agreement53,194 (696)2,498 
Other intangible assets, net$1,135,809 $(704,924)$430,885 
Summary of estimated amortization expenses
The estimated amortization expense of the other intangible balances outstanding at September 30, 2025, for the remainder of 2025 and the years thereafter is as follows:
(In thousands)
Remaining 2025$21,845 
202696,242 
202785,055 
202867,260 
202950,328 
Thereafter127,213 
v3.25.3
Debt and Short-Term Borrowings (Tables)
 9 Months Ended
Sep. 30, 2025
Debt Disclosure [Abstract]  
Summary of total debt
Debt at September 30, 2025 and December 31, 2024 was as follows:
(In thousands)September 30, 2025December 31, 2024
2027 Term A Loan bearing interest at a variable interest rate (SOFR plus applicable margin(1)(2))
$409,475 $426,602 
2030 Term B Loan bearing interest at a variable interest rate (SOFR plus applicable margin(1)(3))
523,535 522,327 
Revolving Facility(4)
150,000 — 
Deferred consideration from business combinations6,681 9,895 
Note payable due on September 1, 2030(1)
6,060 6,519 
Total debt$1,095,751 $965,343 
 
(1)Net of unaccreted discount and unamortized debt issue costs, as applicable.
(2)Subject to a minimum rate ("SOFR floor") of 0.00% plus applicable margin of 1.75% at September 30, 2025 and 2.00% at December 31, 2024.
(3)Subject to a SOFR floor of 0.50% plus applicable margin of 2.25% at September 30, 2025 and 2.75% at December 31, 2024.
(4)Subject to a Prime rate of 7.25% plus applicable margin of 0.75% at September 30, 2025.
Summary of interest rate swap transaction
Swap AgreementEffective date  Maturity Date  Notional Amount  Variable Rate  Fixed Rate
2023 SwapNovember 2024December 2027$250 million1-month SOFR3.375%
2024 SwapMarch 2024October 2027$150 million1-month SOFR4.182%
2024 SwapMarch 2024October 2027$150 million1-month SOFR4.172%
v3.25.3
Financial Instruments and Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2025
Fair Value Disclosures [Abstract]  
Fair value measurements for assets and liabilities at fair value on recurring basis
The following table presents assets and liabilities measured at fair value on a recurring basis at September 30, 2025 and December 31, 2024:

September 30, 2025
December 31, 2024
(In thousands)
Level 2
Level 3
Measured at NAV
Total
Level 2
Level 3
Measured at NAV
Total
Financial assets:
Debt securities AFS
$2,595 $— $— $2,595 $1,807 $— $— $1,807 
Equity securities
— — 6,250 6,250 — — 4,976 4,976 
Interest rate swaps
— — — — 4,338 — — 4,338 
Financial liabilities:
Interest rate swaps
5,155 — — 5,155 1,351 — — 1,351 
Summary of carrying value and estimated fair values for financial instruments
The following table presents the carrying value and estimated fair value for financial instruments at September 30, 2025 and December 31, 2024:
 September 30, 2025December 31, 2024
(In thousands)Carrying
Amount		Fair
Value		Carrying
Amount		Fair
Value
Financial liabilities:
2027 Term A Loan Facility$409,475 $411,704 $426,602 $433,890 
2030 Term B Loan Facility$523,535 $540,000 $522,327 $545,400 
Revolving Facility$150,000 $150,000 $— $— 
v3.25.3
Redeemable Noncontrolling Interests (Tables)
 9 Months Ended
Sep. 30, 2025
Redeemable Noncontrolling Interest [Abstract]  
Summary of terms and changes in redeemable noncontrolling interests The following table summarizes the terms of the issued options:
Percentage of redeemable noncontrolling interestEarliest exercise dateFormula of redemption value
Rosk Software S.A.49%March 15, 2026Variable multiple of gross sales dependent upon EBITDA margin attained times percentage of ownership
Compliasset Software e Solucoes Digitais LTDA.40%March 15, 2026Variable multiple of net sales dependent upon EBITDA margin attained plus working capital, plus net debt times percentage of ownership
Lote45 Participacoes S.A.48%January 1, 2027
Variable multiple of net sales dependent upon EBITDA margin attained plus net debt minus BRL$10.0 million times percentage of ownership
The following table presents changes in RNCI:
(In thousands)Redeemable noncontrolling interests
September 30, 2025December 31, 2024
Beginning balance$43,460 $36,968 
Net income attributable non-controlling interests1,845 2,535 
Acquisition of shares from non-controlling interest(7,276)— 
Adjustment of redeemable non-controlling interests to redemption value3,241 6,596 
Dividends declared on redeemable non-controlling interests— (2,898)
Distributions from redeemable non-controlling interests— (294)
Foreign currency translation adjustments12 553 
Ending balance$41,282 $43,460 
v3.25.3
Equity (Tables)
 9 Months Ended
Sep. 30, 2025
Equity [Abstract]  
Summary of changes in balances of accumulated other comprehensive income (loss)
The following table provides a summary of the changes in the balances of accumulated other comprehensive loss for the nine months ended September 30, 2025: 
(In thousands)Foreign Currency
Translation
Adjustments		Cash Flow HedgesUnrealized Gains (Losses) on Debt Securities AFSTotal
Balance - December 31, 2024, net of tax$(138,004)$3,262 $19 $(134,723)
Other comprehensive income (loss) before reclassifications92,799 (4,202)15 88,612 
Effective portion reclassified to net income— (2,263)— (2,263)
Balance - September 30, 2025, net of tax$(45,205)$(3,203)$34 $(48,374)
v3.25.3
Share-based Compensation (Tables)
 9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of nonvested RSUs activity
The following table summarizes nonvested RSUs activity for the nine months ended September 30, 2025:
Nonvested RSUsSharesWeighted-average
grant date fair value
Nonvested at December 31, 20242,004,264 $38.71 
Granted856,615 39.13 
Vested(707,788)39.71 
Forfeited(99,812)38.92 
Nonvested at September 30, 20252,053,279 $38.57 
v3.25.3
Revenues (Tables)
 9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Summary of disaggregation of revenue
In the following tables, revenue for each segment, excluding intersegment revenues, is disaggregated by timing of revenue
recognition for the periods indicated.

Three months ended September 30, 2025
(In thousands)Payment Services - Puerto Rico & CaribbeanLatin America Payments and SolutionsMerchant Acquiring, netBusiness SolutionsTotal
Timing of revenue recognition
Products and services transferred at a point in time$53 $1,918 $— $2,173 $4,144 
Products and services transferred over time36,687 81,497 46,753 59,506 $224,443 
$36,740 $83,415 $46,753 $61,679 $228,587 


Three months ended September 30, 2024
(In thousands)Payment Services - Puerto Rico & CaribbeanLatin America Payments and SolutionsMerchant Acquiring, netBusiness SolutionsTotal
Timing of revenue recognition
Products and services transferred at a point in time$42 $1,258 $— $766 $2,066 
Products and services transferred over time34,645 69,310 45,437 60,337 209,729 
$34,687 $70,568 $45,437 $61,103 $211,795 
Nine months ended September 30, 2025
(In thousands)Payment Services - Puerto Rico & CaribbeanLatin America Payments and SolutionsMerchant Acquiring, netBusiness SolutionsTotal
Timing of revenue recognition
Products and services transferred at a point in time$134 $5,616 $— $7,766 $13,516 
Products and services transferred over time112,036 235,744 141,694 183,996 673,470 
$112,170 $241,360 $141,694 $191,762 $686,986 

Nine months ended September 30, 2024
(In thousands)Payment Services - Puerto Rico & CaribbeanLatin America Payments and SolutionsMerchant Acquiring, netBusiness SolutionsTotal
Timing of revenue recognition
Products and services transferred at a point in time$152 $2,811 $— $4,894 $7,857 
Products and services transferred over time103,292 207,414 133,855 176,673 621,234 
$103,444 $210,225 $133,855 $181,567 $629,091 
v3.25.3
Current Expected Credit Losses (Tables)
 9 Months Ended
Sep. 30, 2025
Receivables [Abstract]  
Schedule of allowance for credit losses on trade receivables
The following table provides information about the allowance for expected current credit losses on trade receivables for the nine months ended September 30, 2025 and the year ended December 31, 2024:
(In thousands)September 30, 2025December 31, 2024
Balance at beginning of period$2,856 $4,010 
Current period provision for expected credit losses82 921 
Write-offs(322)(2,088)
Recoveries of amounts previously written-off3 13 
Balance at end of period$2,619 $2,856 
v3.25.3
Income Tax (Tables)
 9 Months Ended
Sep. 30, 2025
Income Tax Disclosure [Abstract]  
Components of income tax expense
The components of income tax expense for the three and nine months ended September 30, 2025 and 2024, respectively, consisted of the following:
 Three months ended September 30,Nine months ended September 30,
(In thousands)2025202420252024
Current tax provision $8,187 $8,658 $27,119 $23,375 
Deferred tax benefit(8,218)(6,951)(18,944)(20,275)
Income tax (benefit) expense$(31)$1,707 $8,175 $3,100 
Segregation of income tax expense based on location of operations The following table presents the components of income tax expense for the three and nine months ended September 30, 2025 and 2024, and its segregation based on location of operations:
 Three months ended September 30,Nine months ended September 30,
(In thousands)2025202420252024
Current tax provision
Puerto Rico$1,713 $1,575 $4,755 $3,905 
United States481 99 1,299 228 
Foreign countries5,993 6,984 21,065 19,242 
Total current tax provision $8,187 $8,658 $27,119 $23,375 
Deferred tax benefit
Puerto Rico$(3,445)$(3,659)$(9,704)$(10,984)
United States(48)(2)(176)— 
Foreign countries(4,725)(3,290)(9,064)(9,291)
Total deferred tax benefit$(8,218)$(6,951)$(18,944)$(20,275)
Schedule of income tax expense differs from computed income tax at statutory rates
Income tax expense differs from the amount computed by applying the Puerto Rico statutory income tax rate to the income before income taxes as a result of the following:
 Nine months ended September 30,
(In thousands)20252024
Computed income tax at statutory rates$43,389 $28,954 
Differences in tax rates due to multiple jurisdictions1,644 3,832 
Effect of income subject to tax-exemption grant(37,482)(28,926)
Unrecognized tax expense(65)(1,098)
Excess tax benefits on share-based compensation176 (494)
Other, net 513 832 
Income tax expense$8,175 $3,100 
v3.25.3
Net Income Per Common Share (Tables)
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Schedule of reconciliation of numerator and denominator of net income per common share
The reconciliation of the numerator and the denominator of net income per common share is as follows:
 Three months ended September 30,Nine months ended September 30,
(In thousands, except per share information)2025202420252024
Net income available to EVERTEC, Inc.’s common shareholders$32,861 $24,678 $106,029 $72,558 
Weighted average common shares outstanding63,982,424 63,944,132 63,917,639 64,512,868 
Weighted average potential dilutive common shares (1)
783,876 774,997 774,902 804,080 
Weighted average common shares outstanding - assuming dilution64,766,300 64,719,129 64,692,541 65,316,948 
Net income per common share - basic$0.51 $0.39 $1.66 $1.12 
Net income per common share - diluted$0.51 $0.38 $1.64 $1.11 
 
(1)Potential common shares consist of common stock issuable under RSUs awards using the treasury stock method.
v3.25.3
Segment Information (Tables)
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Summary of information about operations by business segments
The following tables set forth information about the Company’s operations by its four reportable segments for the periods indicated:
Three Months Ended September 30, 2025
(In thousands)Payment
Services -
Puerto Rico & Caribbean		Latin America Payments and SolutionsMerchant
Acquiring, net		Business
Solutions		Total Reportable Segments
Total revenues$36,740 $83,415 $46,753 $61,679 $228,587 
Intersegment revenues18,504 6,963 — — 25,467 
Total segment revenues(1)
55,244 90,378 46,753 61,679 254,054 
Less: Other segment items(2)
(25,370)(65,952)(28,142)(36,579)(156,043)
Segment Adjusted EBITDA$29,874 $24,426 $18,611 $25,100 $98,011 
(1)Total segment revenues include intersegment revenues eliminated on a consolidated basis.   Intersegment revenue eliminations predominantly reflect the $14.9 million processing fee from Payments Services - Puerto Rico & Caribbean to Merchant Acquiring, intercompany software developments and transaction-processing of $7.0 million from Latin America Payments and Solutions to both Payment Services- Puerto Rico & Caribbean and Business Solutions, and transaction-processing and monitoring fees of $3.6 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, foreign currency remeasurement for assets and liabilities in non-functional currency, and expenses from other transactions as defined in the Credit Agreement to determine Segment Adjusted EBITDA.

Three Months Ended September 30, 2024
(In thousands)Payment
Services -
Puerto Rico & Caribbean		Latin America Payments and SolutionsMerchant
Acquiring, net		Business
Solutions		Total Reportable Segments
Total revenues$34,687 $70,568 $45,437 $61,103 $211,795 
Intersegment revenues18,068 5,461 — — 23,529 
Total segment revenues(1)
52,755 76,029 45,437 61,103 235,324 
Less: Other segment items(2)
(24,403)(55,289)(27,210)(35,599)(142,501)
Segment Adjusted EBITDA28,352 20,740 18,227 25,504 92,823 
(1)Total segment revenues include intersegment revenues eliminated on a consolidated basis.  Intersegment revenue eliminations predominantly reflect the $14.4 million processing fee from Payments Services - Puerto Rico & Caribbean to Merchant Acquiring, intercompany software developments and transaction-processing of $5.5 million from Latin America Payments and Solutions to both Payment Services - Puerto Rico & Caribbean and Business Solutions, and transaction-processing and monitoring fees of $3.7 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 other transactions as defined in the Credit Agreement to determine Segment Adjusted EBITDA.
Nine months ended September 30, 2025
(In thousands)Payment
Services -
Puerto Rico & Caribbean		Latin America Payments and SolutionsMerchant
Acquiring, net		Business
Solutions		Total Reportable Segments
Total revenues$112,170 $241,360 $141,694 $191,762 $686,986 
Intersegment revenues54,652 18,848 — — 73,500 
Total segment revenues(1)
166,822 260,208 141,694 191,762 760,486 
Less: Other segment items(2)
(72,482)(187,537)(82,722)(118,419)(461,160)
Segment Adjusted EBITDA94,340 72,671 58,972 73,343 299,326 
(1)Total segment revenues include intersegment revenues eliminated on a consolidated basis.  Intersegment revenue eliminations predominantly reflect the $44.1 million processing fee from Payments Services - Puerto Rico & Caribbean to Merchant Acquiring, intercompany software developments and transaction-processing of $18.8 million from Latin America Payments and Solutions to both Payment Services - Puerto Rico & Caribbean and Business Solutions, and transaction-processing and monitoring fees of $10.6 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, foreign currency remeasurement for assets and liabilities in non-functional currency, and expenses from other transactions as defined in the Credit Agreement to determine Segment Adjusted EBITDA.


Nine months ended September 30, 2024
(In thousands)Payment
Services -
Puerto Rico & Caribbean		Latin America Payments and SolutionsMerchant
Acquiring, net		Business
Solutions		Total Reportable Segments
Total revenues$103,444 $210,225 $133,855 $181,567 $629,091 
Intersegment revenues56,541 14,689 — — 71,230 
Total segment revenues(1)
159,985 224,914 133,855 181,567 700,321 
Less: Other segment items(2)
(69,923)(170,377)(81,160)(103,255)(424,715)
Segment Adjusted EBITDA90,062 54,537 52,695 78,312 275,606 
(1)Total segment revenues include intersegment revenues eliminated on a consolidated basis. Intersegment revenue eliminations predominantly reflect the $43.2 million processing fee from Payments Services - Puerto Rico & Caribbean to Merchant Acquiring, intercompany software developments and transaction-processing of $14.7 million from Latin America Payments and Solutions to both Payment Services - Puerto Rico & Caribbean and Business Solutions, and transaction-processing and monitoring fees of $13.4 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 other transactions as defined in the Credit Agreement to determine Segment Adjusted EBITDA.
Reconciliation of EBITDA to consolidated net income
The reconciliation of Segment Adjusted EBITDA to consolidated income before income taxes is as follows:
 Three months ended September 30,Nine months ended September 30,
(In thousands)2025202420252024
Segment Adjusted EBITDA$98,011 $92,823 $299,326 $275,606 
Elimination of intersegment revenues(25,467)(23,529)(73,500)(71,230)
Other corporate expenses(1)
20,069 18,095 48,789 47,242 
Compensation and benefits(2)
(8,319)(7,595)(27,727)(23,186)
Transaction, refinancing and other fees(3)
(7,723)(1,176)(7,347)(165)
Earnings of equity method investments, net of dividends received(2,129)(1,929)815 238 
(Loss) gain on foreign currency remeasurement(4)
(60)(1,112)455 (3,164)
Interest income4,016 3,696 10,346 10,274 
Interest expense(16,534)(18,704)(50,241)(57,352)
Depreciation and amortization(28,435)(33,660)(85,217)(101,051)
Income before income taxes$33,429 $26,909 $115,699 $77,212 
(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 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.
v3.25.3
Supplemental Statement of Cash Flows Information (Tables)
 9 Months Ended
Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of supplemental cash flow information
Supplemental statement of cash flows information is as follows:
Nine Months Ended September 30,
(In thousands)20252024
Supplemental disclosure of cash flow information:
Cash paid for interest $47,477 $55,024 
Cash paid for income taxes 27,555 17,917 
Supplemental disclosure of non-cash activities:
Payable due to vendor related to equipment and software acquired7,387 5,129 
Right-of-use assets obtained in exchange for operating lease liabilities2,219 2,925 
Non-cash investing activities
Capital contribution in-kind to investment in equity investee— 6,000 
Trade-in of equipment— 2,193 

Reconciliation of cash, cash equivalents, restricted cash and cash included in settlement assets as presented on the cash flow statement was as follows:
September 30,
(In thousands)20252024
Cash and cash equivalents$474,738 $275,359 
Restricted cash24,998 25,663 
Cash and cash equivalents included in settlement assets8,243 25,260 
Cash, cash equivalents, restricted cash and cash included in settlement assets507,979 326,282 
v3.25.3
The Company and Basis of Presentation and Recent Accounting Pronouncements - Additional Information (Details)
Sep. 30, 2025
country
Accounting Policies [Abstract]  
Number of countries where services are provided 26
v3.25.3
Business Acquisition - Additional Information (Details) - USD ($)
$ in Thousands
Nov. 19, 2024
Oct. 31, 2024
Sep. 30, 2025
Dec. 31, 2024
Business Combination [Line Items]        
Goodwill     $ 779,671 $ 726,901
Grandata, Inc        
Business Combination [Line Items]        
Percentage of shares acquired   100.00%    
Aggregate purchase price   $ 33,300    
Other intangible assets, net   18,310    
Goodwill   13,771    
Deferred tax liability   $ 5,044    
Nubity, Inc.        
Business Combination [Line Items]        
Percentage of shares acquired 100.00%      
Aggregate purchase price $ 11,000      
Net assets 300      
Goodwill 7,400      
Deferred tax liability 1,400      
Nubity, Inc. | Customer relationships        
Business Combination [Line Items]        
Other intangible assets, net 4,370      
Nubity, Inc. | Trademark        
Business Combination [Line Items]        
Other intangible assets, net $ 365      
v3.25.3
Business Acquisition - Assets Acquired and Liabilities Assumed (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Oct. 31, 2024
Business Combination [Line Items]      
Goodwill $ 779,671 $ 726,901  
Grandata, Inc      
Business Combination [Line Items]      
Cash and cash equivalents     $ 9,862
Accounts receivable, net     2,701
Prepaid expenses and other assets     836
Goodwill     13,771
Other intangible assets, net     18,310
Total assets acquired     45,480
Accounts payable     5,676
Accrued liabilities     604
Income tax payable     837
Deferred tax liability     5,044
Total liabilities assumed     12,161
Additional paid-in capital     33,319
Total liabilities and equity     $ 45,480
v3.25.3
Business Acquisition - Intangible Assets Acquired (Details) - USD ($)
$ in Thousands
Nov. 19, 2024
Oct. 31, 2024
Grandata, Inc    
Business Combination [Line Items]    
Amount   $ 18,310
Weighted-average life   11 years
Other intangible assets, net   $ 18,310
Grandata, Inc | Customer relationships    
Business Combination [Line Items]    
Amount   $ 11,900
Weighted-average life   15 years
Grandata, Inc | Trademark    
Business Combination [Line Items]    
Amount   $ 1,440
Weighted-average life   3 years
Grandata, Inc | Software packages    
Business Combination [Line Items]    
Amount   $ 4,970
Weighted-average life   5 years
Nubity, Inc.    
Business Combination [Line Items]    
Amount $ 4,735  
Weighted-average life 14 years  
Nubity, Inc. | Customer relationships    
Business Combination [Line Items]    
Weighted-average life 15 years  
Other intangible assets, net $ 4,370  
Nubity, Inc. | Trademark    
Business Combination [Line Items]    
Weighted-average life 3 years  
Other intangible assets, net $ 365  
v3.25.3
Property and Equipment, net - Property and Equipment, Net (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Property and Equipment, net    
Property and equipment, gross $ 222,920 $ 206,749
Less - accumulated depreciation and amortization (161,255) (146,185)
Property and equipment, net 61,665 60,564
Land 1,519 1,495
Property and equipment, net, including land $ 63,184 62,059
Buildings    
Property and Equipment, net    
Useful life in years 30 years  
Property and equipment, gross $ 2,209 2,105
Data processing equipment    
Property and Equipment, net    
Property and equipment, gross $ 203,763 189,172
Data processing equipment | Minimum    
Property and Equipment, net    
Useful life in years 3 years  
Data processing equipment | Maximum    
Property and Equipment, net    
Useful life in years 5 years  
Furniture and equipment    
Property and Equipment, net    
Property and equipment, gross $ 11,479 10,413
Furniture and equipment | Minimum    
Property and Equipment, net    
Useful life in years 3 years  
Furniture and equipment | Maximum    
Property and Equipment, net    
Useful life in years 10 years  
Leasehold improvements    
Property and Equipment, net    
Property and equipment, gross $ 5,469 $ 5,059
Leasehold improvements | Minimum    
Property and Equipment, net    
Useful life in years 5 years  
Leasehold improvements | Maximum    
Property and Equipment, net    
Useful life in years 10 years  
v3.25.3
Property and Equipment, net - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Property, Plant and Equipment [Abstract]        
Depreciation and amortization expense related to property and equipment $ 5.5 $ 5.8 $ 16.5 $ 16.9
v3.25.3
Goodwill and Other Intangible Assets - Goodwill by Segment (Details)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
USD ($)
Changes in the Carrying Amount of Goodwill  
Beginning balance $ 726,901
Measurement period adjustment for prior year acquisitions 519
Foreign currency translation adjustments 52,251
Ending balance 779,671
Payment Services - Puerto Rico & Caribbean  
Changes in the Carrying Amount of Goodwill  
Beginning balance 160,972
Measurement period adjustment for prior year acquisitions 0
Foreign currency translation adjustments 0
Ending balance 160,972
Latin America Payments and Solutions  
Changes in the Carrying Amount of Goodwill  
Beginning balance 387,798
Measurement period adjustment for prior year acquisitions 519
Foreign currency translation adjustments 52,251
Ending balance 440,568
Merchant Acquiring, net  
Changes in the Carrying Amount of Goodwill  
Beginning balance 138,121
Measurement period adjustment for prior year acquisitions 0
Foreign currency translation adjustments 0
Ending balance 138,121
Business Solutions  
Changes in the Carrying Amount of Goodwill  
Beginning balance 40,010
Measurement period adjustment for prior year acquisitions 0
Foreign currency translation adjustments 0
Ending balance $ 40,010
v3.25.3
Goodwill and Other Intangible Assets - Additional Information (Details) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]        
Impairment of goodwill     $ 0 $ 0
Amortization expense for intangible assets $ 22,900,000 $ 27,900,000 $ 68,700,000 $ 84,200,000
v3.25.3
Goodwill and Other Intangible Assets - Other Intangible Assets (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Intangible Asset, Acquired, Finite-Lived [Line Items]    
Gross amount $ 1,222,932 $ 1,135,809
Accumulated amortization (774,989) (704,924)
Net carrying amount 447,943 430,885
Customer relationships    
Intangible Asset, Acquired, Finite-Lived [Line Items]    
Gross amount 558,913 533,203
Accumulated amortization (401,973) (374,474)
Net carrying amount $ 156,940 $ 158,729
Customer relationships | Minimum    
Intangible Asset, Acquired, Finite-Lived [Line Items]    
Useful life in years 5 years 5 years
Customer relationships | Maximum    
Intangible Asset, Acquired, Finite-Lived [Line Items]    
Useful life in years 20 years 20 years
Trademark    
Intangible Asset, Acquired, Finite-Lived [Line Items]    
Gross amount $ 90,609 $ 84,008
Accumulated amortization (56,734) (48,204)
Net carrying amount $ 33,875 $ 35,804
Trademark | Minimum    
Intangible Asset, Acquired, Finite-Lived [Line Items]    
Useful life in years 3 years 3 years
Trademark | Maximum    
Intangible Asset, Acquired, Finite-Lived [Line Items]    
Useful life in years 15 years 15 years
Software packages    
Intangible Asset, Acquired, Finite-Lived [Line Items]    
Gross amount $ 569,719 $ 515,404
Accumulated amortization (314,961) (281,550)
Net carrying amount $ 254,758 $ 233,854
Software packages | Minimum    
Intangible Asset, Acquired, Finite-Lived [Line Items]    
Useful life in years 3 years 3 years
Software packages | Maximum    
Intangible Asset, Acquired, Finite-Lived [Line Items]    
Useful life in years 10 years 10 years
Non-compete agreement    
Intangible Asset, Acquired, Finite-Lived [Line Items]    
Useful life in years 5 years 5 years
Gross amount $ 3,691 $ 3,194
Accumulated amortization (1,321) (696)
Net carrying amount $ 2,370 $ 2,498
v3.25.3
Goodwill and Other Intangible Assets - Estimated Amortization Expenses (Details)
$ in Thousands
Sep. 30, 2025
USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]  
Remaining 2025 $ 21,845
2026 96,242
2027 85,055
2028 67,260
2029 50,328
Thereafter $ 127,213
v3.25.3
Debt and Short-Term Borrowings - Total Debt (Details) - USD ($)
$ in Thousands
 9 Months Ended 12 Months Ended
Sep. 30, 2025
Dec. 31, 2024
Debt Instrument [Line Items]    
Deferred consideration from business combinations $ 6,681 $ 9,895
Total debt 1,095,751 965,343
Note Payable    
Debt Instrument [Line Items]    
Long-term debt 6,060 6,519
2027 Term A Loan bearing interest at a variable interest rate (SOFR plus applicable margin) | Credit Facility    
Debt Instrument [Line Items]    
2027 Term A Loan and 2030 Term B Loan bearing interest at a variable interest rate (SOFR plus applicable margin) $ 409,475 $ 426,602
2027 Term A Loan bearing interest at a variable interest rate (SOFR plus applicable margin) | Credit Facility | Secured Overnight Financing Rate (SOFR)    
Debt Instrument [Line Items]    
Minimum variable rate floor 0.00% 0.00%
Applicable margin interest rate 1.75% 2.00%
2030 Term B Loan bearing interest at a variable interest rate (SOFR plus applicable margin) | Credit Facility    
Debt Instrument [Line Items]    
2027 Term A Loan and 2030 Term B Loan bearing interest at a variable interest rate (SOFR plus applicable margin) $ 523,535 $ 522,327
2030 Term B Loan bearing interest at a variable interest rate (SOFR plus applicable margin) | Credit Facility | Secured Overnight Financing Rate (SOFR)    
Debt Instrument [Line Items]    
Minimum variable rate floor 0.50% 0.50%
Applicable margin interest rate 2.25% 2.75%
2030 Term B Loan bearing interest at a variable interest rate (SOFR plus applicable margin) | Credit Facility | Prime Rate    
Debt Instrument [Line Items]    
Minimum variable rate floor 7.25%  
Revolving Facility | Credit Facility    
Debt Instrument [Line Items]    
Long-term debt $ 150,000 $ 0
Revolving Facility | Credit Facility | Prime Rate    
Debt Instrument [Line Items]    
Applicable margin interest rate 0.75%  
v3.25.3
Debt and Short-Term Borrowings - Additional Information (Details)
 1 Months Ended 3 Months Ended 9 Months Ended
Sep. 30, 2023
USD ($)
Sep. 30, 2025
USD ($)
derivative_instrument
Sep. 30, 2024
USD ($)
Sep. 30, 2025
USD ($)
derivative_instrument
Sep. 30, 2024
USD ($)
Dec. 31, 2024
USD ($)
Oct. 30, 2023
USD ($)
Dec. 01, 2022
USD ($)
Debt Instrument [Line Items]                
Deferred consideration for business combinations   $ 6,700,000   $ 6,700,000   $ 9,900,000    
Derivative asset   0   0   4,338,000    
Derivative liability   5,155,000   5,155,000   1,351,000    
Gains reclassified from accumulated other comprehensive income (loss) into earnings   800,000 $ 2,500,000 2,300,000 $ 6,600,000      
Gain expected to be reclassified from accumulated other comprehensive (loss) income into interest expense in the next 12 months   2,200,000   2,200,000        
Level 2 | Fair Value, Recurring                
Debt Instrument [Line Items]                
Derivative asset   0   0   4,338,000    
Derivative liability   5,155,000   5,155,000   1,351,000    
Level 2 | Fair Value, Recurring | Carrying Amount                
Debt Instrument [Line Items]                
Derivative asset           4,300,000    
Derivative liability   $ 5,200,000   $ 5,200,000   $ 1,400,000    
Interest Rate Swap                
Debt Instrument [Line Items]                
Number of interest rate swaps | derivative_instrument   3   3        
Minimum                
Debt Instrument [Line Items]                
Deferred consideration for business combinations, interest rate   6.20%   6.20%        
Maximum                
Debt Instrument [Line Items]                
Deferred consideration for business combinations, interest rate   13.00%   13.00%        
Financing Agreement 2023                
Debt Instrument [Line Items]                
Note payable $ 10,100,000 $ 6,100,000   $ 6,100,000        
Note Payable | Credit Agreement 2022                
Debt Instrument [Line Items]                
Interest rate 6.90%              
Term A due on December 1, 2027 | Credit Facility | Credit Agreement 2022                
Debt Instrument [Line Items]                
Line of credit facility, maximum borrowing capacity               $ 415,000,000
Unpaid principal balance   411,700,000   411,700,000        
Term A due on December 1, 2027 | Credit Facility | Credit Agreement October 2023                
Debt Instrument [Line Items]                
Line of credit facility, additional commitments             $ 60,000,000  
Revolving Facility | Credit Facility | Credit Agreement 2022                
Debt Instrument [Line Items]                
Line of credit facility, maximum borrowing capacity               $ 200,000,000
Unpaid principal balance   150,000,000   150,000,000        
Additional borrowing capacity available under the revolving facility   43,900,000   43,900,000        
Term B due on October 30, 2030 | Credit Facility | Credit Agreement 2022                
Debt Instrument [Line Items]                
Unpaid principal balance   $ 540,000,000.0   $ 540,000,000.0        
Term B due on October 30, 2030 | Credit Facility | Credit Agreement October 2023                
Debt Instrument [Line Items]                
Line of credit facility, maximum borrowing capacity             $ 600,000,000  
v3.25.3
Debt and Short-Term Borrowings - Summary of Interest Rate Swap Transaction (Details)
 9 Months Ended
Sep. 30, 2025
USD ($)
2023 Swap  
Derivative [Line Items]  
Notional Amount $ 250,000,000
Fixed Rate 3.375%
2024 Swap, 4.182% Fixed Rate  
Derivative [Line Items]  
Notional Amount $ 150,000,000
Fixed Rate 4.182%
2024 Swap, 4.172% Fixed Rate  
Derivative [Line Items]  
Notional Amount $ 150,000,000
Fixed Rate 4.172%
v3.25.3
Financial Instruments and Fair Value Measurements - Fair Value Measurements for Assets and Liabilities at Fair Value on Recurring Basis (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Financial assets:    
Debt securities AFS $ 2,595 $ 1,807
Equity securities 6,250 4,976
Interest rate swaps 0 4,338
Financial liabilities:    
Interest rate swaps 5,155 1,351
Fair Value, Recurring | Level 2    
Financial assets:    
Interest rate swaps 0 4,338
Financial liabilities:    
Interest rate swaps 5,155 1,351
Fair Value, Recurring | Level 2 | Sinqia, S.A.    
Financial assets:    
Equity securities 0 0
Fair Value, Recurring | Level 2 | Debt securities AFS    
Financial assets:    
Debt securities AFS 2,595 1,807
Fair Value, Recurring | Level 3    
Financial assets:    
Interest rate swaps 0 0
Financial liabilities:    
Interest rate swaps 0 0
Fair Value, Recurring | Level 3 | Sinqia, S.A.    
Financial assets:    
Equity securities 0 0
Fair Value, Recurring | Level 3 | Debt securities AFS    
Financial assets:    
Debt securities AFS 0 0
Fair Value, Recurring | Measured at NAV | Sinqia, S.A.    
Financial assets:    
Equity securities $ 6,250 $ 4,976
v3.25.3
Financial Instruments and Fair Value Measurements - Additional Information (Details) - USD ($)
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Fair Value Disclosures [Abstract]    
Proceeds from maturities of available-for-sale debt securities $ 1,000,000 $ 370,000
Purchase of available-for sale debt securities 1,782,000 0
Proceeds from sale of available-for-sale debt securities $ 0 $ 0
v3.25.3
Financial Instruments and Fair Value Measurements - Carrying Value and Estimated Fair Values (Details) - Credit Facility - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Carrying Amount | Term A due on December 1, 2027    
Financial liabilities:    
Loan Facility $ 409,475 $ 426,602
Carrying Amount | Term B due on October 30, 2030    
Financial liabilities:    
Loan Facility 523,535 522,327
Carrying Amount | Revolving Facility    
Financial liabilities:    
Loan Facility 150,000 0
Fair Value | Term A due on December 1, 2027    
Financial liabilities:    
Loan Facility 411,704 433,890
Fair Value | Term B due on October 30, 2030    
Financial liabilities:    
Loan Facility 540,000 545,400
Fair Value | Revolving Facility    
Financial liabilities:    
Loan Facility $ 150,000 $ 0
v3.25.3
Redeemable Noncontrolling Interests - Summary of Terms (Details)
Sep. 30, 2025
BRL (R$)
Rosk Software S.A.  
Redeemable Noncontrolling Interest [Line Items]  
Percentage of redeemable noncontrolling interest 49.00%
Compliasset Software e Solucoes Digitais LTDA.  
Redeemable Noncontrolling Interest [Line Items]  
Percentage of redeemable noncontrolling interest 40.00%
Lote45 Participacoes S.A.  
Redeemable Noncontrolling Interest [Line Items]  
Percentage of redeemable noncontrolling interest 48.00%
Redeemable noncontrolling interest, redemption value criteria, value subtracted from formula R$ 10,000,000.0
v3.25.3
Redeemable Non-controlling Interests - Changes in Redeemable Non-controlling Interests (Details) - USD ($)
$ in Thousands
 9 Months Ended 12 Months Ended
Sep. 30, 2025
Dec. 31, 2024
Redeemable Noncontrolling Interest [Roll Forward]    
Beginning balance $ 43,460 $ 36,968
Net income attributable non-controlling interests 1,845 2,535
Acquisition of shares from non-controlling interest (7,276) 0
Adjustment of redeemable non-controlling interests to redemption value 3,241 6,596
Distributions from redeemable non-controlling interests 0 (2,898)
Dividends declared on redeemable non-controlling interests 0 (294)
Foreign currency translation adjustments 12 553
Ending balance $ 41,282 $ 43,460
v3.25.3
Redeemable Non-controlling Interests - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Sep. 30, 2025
Sep. 30, 2024
Redeemable Noncontrolling Interest [Line Items]                
Acquisition of redeemable non-controlling interest             $ 5,167 $ 0
Adjustment of redeemable noncontrolling interest to redemption value $ 851 $ (762) $ (1,220) $ (709) $ 3,186 $ (3,172)    
Additional Paid-in Capital                
Redeemable Noncontrolling Interest [Line Items]                
Adjustment of redeemable noncontrolling interest to redemption value $ 851 $ (762) $ (1,220) $ (709) $ 3,186 $ (3,172)    
Homie Do Brasil Informatica                
Redeemable Noncontrolling Interest [Line Items]                
Ownership percentage             40.00%  
Acquisition of redeemable non-controlling interest             $ 5,200  
Homie Do Brasil Informatica | Additional Paid-in Capital                
Redeemable Noncontrolling Interest [Line Items]                
Adjustment of redeemable noncontrolling interest to redemption value             $ 1,000  
v3.25.3
Equity - Changes in Accumulated Other Comprehensive Loss (Details)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
USD ($)
Changes in Accumulated Other Comprehensive Income (Loss)  
Beginning balance $ 475,801
Ending balance 666,735
Total  
Changes in Accumulated Other Comprehensive Income (Loss)  
Beginning balance (134,723)
Other comprehensive income (loss) before reclassifications 88,612
Effective portion reclassified to net income (2,263)
Ending balance (48,374)
Foreign Currency Translation Adjustments  
Changes in Accumulated Other Comprehensive Income (Loss)  
Beginning balance (138,004)
Other comprehensive income (loss) before reclassifications 92,799
Effective portion reclassified to net income 0
Ending balance (45,205)
Cash Flow Hedges  
Changes in Accumulated Other Comprehensive Income (Loss)  
Beginning balance 3,262
Other comprehensive income (loss) before reclassifications (4,202)
Effective portion reclassified to net income (2,263)
Ending balance (3,203)
Unrealized Gains (Losses) on Debt Securities AFS  
Changes in Accumulated Other Comprehensive Income (Loss)  
Beginning balance 19
Other comprehensive income (loss) before reclassifications 15
Effective portion reclassified to net income 0
Ending balance $ 34
v3.25.3
Equity - Additional Information (Details) - USD ($)
$ / shares in Units, $ in Thousands
 1 Months Ended 3 Months Ended 9 Months Ended
Jul. 09, 2024
Mar. 08, 2024
Mar. 31, 2024
Jun. 30, 2025
Sep. 30, 2024
Mar. 31, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Mar. 06, 2024
Equity, Class of Treasury Stock [Line Items]                    
Stock repurchase program, authorized amount                   $ 70,000
Common stock par value (in usd per share)             $ 0.01   $ 0.01 $ 0.01
Payment repurchase of common stock   $ 70,000         $ 3,691 $ 82,293    
Common Stock                    
Equity, Class of Treasury Stock [Line Items]                    
Repurchase of common stock (in shares) 467,362 1,500,000 1,516,793 101,890 841,453 1,516,793        
v3.25.3
Share-based Compensation - Additional Information (Details) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Share-based compensation expenses $ 7.7 $ 7.4 $ 22.2 $ 22.4
Restricted Stock Units        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Maximum unrecognized cost for stocks and RSU's $ 46.8   $ 46.8  
Unrecognized compensation cost, weighted average period of recognition (in years)     2 years  
Time Based Awards        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Vesting period (in years)     3 years  
Awards with Performance Conditions        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Vesting period (in years)     3 years  
Performance adjustment percent     25.00%  
Performance measurement period (in years)     1 year  
Requisite service period (in years)     2 years  
Awards with Performance Conditions | Minimum        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Performance payout percent     0.00%  
Awards with Performance Conditions | Maximum        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Performance payout percent     200.00%  
v3.25.3
Share-based Compensation - Nonvested Restricted Shares and RSUs Activity (Details) - Restricted Stock Units (RSUs)
 9 Months Ended
Sep. 30, 2025
$ / shares
shares
Shares  
Beginning balance (in shares) | shares 2,004,264,000
Granted (in shares) | shares 856,615,000
Vested (in shares) | shares (707,788,000)
Forfeited (in shares) | shares (99,812,000)
Ending balance (in shares) | shares 2,053,279,000
Weighted-average grant date fair value  
Beginning balance (in usd per share) | $ / shares $ 38.71
Granted (in usd per share) | $ / shares 39.13
Vested (in usd per share) | $ / shares 39.71
Forfeited (in usd per share) | $ / shares 38.92
Ending balance (in usd per share) | $ / shares $ 38.57
v3.25.3
Revenues - Disaggregation of Revenue (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Disaggregation of Revenue [Line Items]        
Total revenues $ 228,587 $ 211,795 $ 686,986 $ 629,091
Products and services transferred at a point in time        
Disaggregation of Revenue [Line Items]        
Total revenues 4,144 2,066 13,516 7,857
Products and services transferred over time        
Disaggregation of Revenue [Line Items]        
Total revenues 224,443 209,729 673,470 621,234
Payment Services - Puerto Rico & Caribbean        
Disaggregation of Revenue [Line Items]        
Total revenues 36,740 34,687 112,170 103,444
Payment Services - Puerto Rico & Caribbean | Products and services transferred at a point in time        
Disaggregation of Revenue [Line Items]        
Total revenues 53 42 134 152
Payment Services - Puerto Rico & Caribbean | Products and services transferred over time        
Disaggregation of Revenue [Line Items]        
Total revenues 36,687 34,645 112,036 103,292
Latin America Payments and Solutions        
Disaggregation of Revenue [Line Items]        
Total revenues 83,415 70,568 241,360 210,225
Latin America Payments and Solutions | Products and services transferred at a point in time        
Disaggregation of Revenue [Line Items]        
Total revenues 1,918 1,258 5,616 2,811
Latin America Payments and Solutions | Products and services transferred over time        
Disaggregation of Revenue [Line Items]        
Total revenues 81,497 69,310 235,744 207,414
Merchant Acquiring, net        
Disaggregation of Revenue [Line Items]        
Total revenues 46,753 45,437 141,694 133,855
Merchant Acquiring, net | Products and services transferred at a point in time        
Disaggregation of Revenue [Line Items]        
Total revenues 0 0 0 0
Merchant Acquiring, net | Products and services transferred over time        
Disaggregation of Revenue [Line Items]        
Total revenues 46,753 45,437 141,694 133,855
Business Solutions        
Disaggregation of Revenue [Line Items]        
Total revenues 61,679 61,103 191,762 181,567
Business Solutions | Products and services transferred at a point in time        
Disaggregation of Revenue [Line Items]        
Total revenues 2,173 766 7,766 4,894
Business Solutions | Products and services transferred over time        
Disaggregation of Revenue [Line Items]        
Total revenues $ 59,506 $ 60,337 $ 183,996 $ 176,673
v3.25.3
Revenues - Additional Information (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Dec. 31, 2024
Product Information [Line Items]          
Accounts receivable, net $ 153,862   $ 153,862   $ 137,501
Contract assets 14,600   14,600   11,400
Contract liability 22,885   22,885   25,274
Contract liability - long term 48,908   48,908   55,003
Revenue recognized 5,400 $ 6,200 23,800 $ 21,300  
Popular          
Product Information [Line Items]          
Accounts receivable, net $ 39,000   $ 39,000   $ 37,500
Total Revenue | Customer Concentration Risk | Popular          
Product Information [Line Items]          
Total percentage of revenues from Popular 29.00% 32.00% 30.00% 31.00%  
v3.25.3
Revenues - Additional Information, Performance Obligation (Details) - Professional Services, All Other Contracts - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-10-01
$ in Millions
Sep. 30, 2025
USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Transaction price allocated to performance obligations that are unsatisfied or partially satisfied $ 724.8
Minimum  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, period of expected timing of satisfaction (in years) 5 years
Maximum  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, period of expected timing of satisfaction (in years) 7 years
v3.25.3
Current Expected Credit Losses - Allowance Activity (Details) - USD ($)
$ in Thousands
 9 Months Ended 12 Months Ended
Sep. 30, 2025
Dec. 31, 2024
Financing Receivable, Allowance for Credit Loss [Roll Forward]    
Balance at beginning of period $ 2,856 $ 4,010
Current period provision for expected credit losses 82 921
Write-offs (322) (2,088)
Recoveries of amounts previously written-off 3 13
Balance at end of period $ 2,619 $ 2,856
v3.25.3
Income Tax - Components of Income Tax Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Income Tax Disclosure [Abstract]        
Current tax provision $ 8,187 $ 8,658 $ 27,119 $ 23,375
Deferred tax benefit (8,218) (6,951) (18,944) (20,275)
Income tax (benefit) expense $ (31) $ 1,707 $ 8,175 $ 3,100
v3.25.3
Income Tax - Tax Expense Based on Location (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Current tax provision        
Puerto Rico $ 1,713 $ 1,575 $ 4,755 $ 3,905
United States 481 99 1,299 228
Foreign countries 5,993 6,984 21,065 19,242
Total current tax provision 8,187 8,658 27,119 23,375
Deferred tax benefit        
Puerto Rico (3,445) (3,659) (9,704) (10,984)
United States (48) (2) (176) 0
Foreign countries (4,725) (3,290) (9,064) (9,291)
Total deferred tax benefit $ (8,218) $ (6,951) $ (18,944) $ (20,275)
v3.25.3
Income Tax - Additional Information (Details) - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Income Tax Disclosure [Abstract]    
Unremitted earnings from foreign subsidiaries $ 192.5 $ 165.2
Gross deferred tax asset 98.4 74.3
Gross deferred tax liability 87.2 79.9
Gross deferred tax asset, valuation allowance 6.0 $ 5.3
Possible decrease in uncertain tax positions $ 2.6  
v3.25.3
Income Tax - Income Tax Expense Differs from Computed Income Tax at Statutory Rates (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Income Tax Disclosure [Abstract]        
Computed income tax at statutory rates     $ 43,389 $ 28,954
Differences in tax rates due to multiple jurisdictions     1,644 3,832
Effect of income subject to tax-exemption grant     (37,482) (28,926)
Unrecognized tax expense     (65) (1,098)
Excess tax benefits on share-based compensation     176 (494)
Other, net     513 832
Income tax (benefit) expense $ (31) $ 1,707 $ 8,175 $ 3,100
v3.25.3
Net Income Per Common Share - Reconciliation of Income Per Common Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Earnings Per Share [Abstract]        
Net income available to EVERTEC, Inc.’s common shareholders $ 32,861 $ 24,678 $ 106,029 $ 72,558
Weighted average common shares outstanding (in shares) 63,982,424 63,944,132 63,917,639 64,512,868
Weighted average potential dilutive common shares (in shares) 783,876 774,997 774,902 804,080
Weighted average common shares outstanding - assuming dilution (in shares) 64,766,300 64,719,129 64,692,541 65,316,948
Net income per common share - basic (in usd per share) $ 0.51 $ 0.39 $ 1.66 $ 1.12
Net income per common share - diluted (in usd per share) $ 0.51 $ 0.38 $ 1.64 $ 1.11
v3.25.3
Net Income Per Common Share - Additional Information (Details) - $ / shares
 3 Months Ended
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Earnings Per Share [Abstract]            
Cash dividends on common stock (in usd per share) $ 0.05 $ 0.05 $ 0.05 $ 0.05 $ 0.05 $ 0.05
v3.25.3
Segment Information - Additional Information (Details)
 9 Months Ended
Sep. 30, 2025
segment
Segment Reporting [Abstract]  
Number of reportable segments 4
v3.25.3
Segment Information - Information about Operations by Business Segments (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Segment Reporting Information [Line Items]        
Total revenues $ 228,587 $ 211,795 $ 686,986 $ 629,091
Segment Adjusted EBITDA 98,011 92,823 299,326 275,606
Payment Services - Puerto Rico & Caribbean        
Segment Reporting Information [Line Items]        
Total revenues 36,740 34,687 112,170 103,444
Latin America Payments and Solutions        
Segment Reporting Information [Line Items]        
Total revenues 83,415 70,568 241,360 210,225
Merchant Acquiring, net        
Segment Reporting Information [Line Items]        
Total revenues 46,753 45,437 141,694 133,855
Business Solutions        
Segment Reporting Information [Line Items]        
Total revenues 61,679 61,103 191,762 181,567
Intersegment Eliminations        
Segment Reporting Information [Line Items]        
Total revenues (25,467) (23,529) (73,500) (71,230)
Intersegment Eliminations | Payment Services - Puerto Rico & Caribbean        
Segment Reporting Information [Line Items]        
Total revenues (18,504) (18,068) (54,652) (56,541)
Intersegment Eliminations | Payment Services - Puerto Rico & Caribbean | Processing Fee        
Segment Reporting Information [Line Items]        
Total revenues (14,900) (14,400) (44,100) (43,200)
Intersegment Eliminations | Payment Services - Puerto Rico & Caribbean | Software Sale and Developments        
Segment Reporting Information [Line Items]        
Total revenues (7,000) (5,500) (18,800) (14,700)
Intersegment Eliminations | Payment Services - Puerto Rico & Caribbean | Transaction Processing and Monitoring Fees        
Segment Reporting Information [Line Items]        
Total revenues (3,600) (3,700) (10,600) (13,400)
Intersegment Eliminations | Latin America Payments and Solutions        
Segment Reporting Information [Line Items]        
Total revenues (6,963) (5,461) (18,848) (14,689)
Intersegment Eliminations | Merchant Acquiring, net        
Segment Reporting Information [Line Items]        
Total revenues 0 0 0 0
Intersegment Eliminations | Business Solutions        
Segment Reporting Information [Line Items]        
Total revenues 0 0 0 0
Operating Segments        
Segment Reporting Information [Line Items]        
Total revenues 254,054 235,324 760,486 700,321
Less: Other segment items (156,043) (142,501) (461,160) (424,715)
Segment Adjusted EBITDA 98,011 92,823 299,326 275,606
Operating Segments | Payment Services - Puerto Rico & Caribbean        
Segment Reporting Information [Line Items]        
Total revenues 55,244 52,755 166,822 159,985
Less: Other segment items (25,370) (24,403) (72,482) (69,923)
Segment Adjusted EBITDA 29,874 28,352 94,340 90,062
Operating Segments | Latin America Payments and Solutions        
Segment Reporting Information [Line Items]        
Total revenues 90,378 76,029 260,208 224,914
Less: Other segment items (65,952) (55,289) (187,537) (170,377)
Segment Adjusted EBITDA 24,426 20,740 72,671 54,537
Operating Segments | Merchant Acquiring, net        
Segment Reporting Information [Line Items]        
Total revenues 46,753 45,437 141,694 133,855
Less: Other segment items (28,142) (27,210) (82,722) (81,160)
Segment Adjusted EBITDA 18,611 18,227 58,972 52,695
Operating Segments | Business Solutions        
Segment Reporting Information [Line Items]        
Total revenues 61,679 61,103 191,762 181,567
Less: Other segment items (36,579) (35,599) (118,419) (103,255)
Segment Adjusted EBITDA $ 25,100 $ 25,504 $ 73,343 $ 78,312
v3.25.3
Segment Information - Reconciliation of Segment Adjusted EBITDA to Consolidated Income Before Income Taxes (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Segment Reporting Information [Line Items]        
Segment Adjusted EBITDA $ 98,011 $ 92,823 $ 299,326 $ 275,606
Total revenues 228,587 211,795 686,986 629,091
(Loss) gain on foreign currency remeasurement (60) (1,112) 455 (3,164)
Interest income 4,016 3,696 10,346 10,274
Interest expense (16,534) (18,704) (50,241) (57,352)
Depreciation and amortization (28,435) (33,660) (85,217) (101,051)
Income before income taxes 33,429 26,909 115,699 77,212
Intersegment Eliminations        
Segment Reporting Information [Line Items]        
Total revenues (25,467) (23,529) (73,500) (71,230)
Segment Reporting, Reconciling Item, Corporate Nonsegment        
Segment Reporting Information [Line Items]        
Other expenses 20,069 18,095 48,789 47,242
Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment        
Segment Reporting Information [Line Items]        
Compensation and benefits (8,319) (7,595) (27,727) (23,186)
Transaction, refinancing and other fees (7,723) (1,176) (7,347) (165)
Earnings of equity method investments, net of dividends received (2,129) (1,929) 815 238
(Loss) gain on foreign currency remeasurement (60) (1,112) 455 (3,164)
Interest income 4,016 3,696 10,346 10,274
Interest expense (16,534) (18,704) (50,241) (57,352)
Depreciation and amortization $ (28,435) $ (33,660) $ (85,217) $ (101,051)
v3.25.3
Supplemental Statement of Cash Flows Information - Supplemental Information (Details) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Supplemental disclosure of cash flow information:    
Cash paid for interest $ 47,477 $ 55,024
Cash paid for income taxes 27,555 17,917
Supplemental disclosure of non-cash activities:    
Payable due to vendor related to equipment and software acquired 7,387 5,129
Right-of-use assets obtained in exchange for operating lease liabilities 2,219 2,925
Non-cash investing activities    
Capital contribution in-kind to investment in equity investee 0 6,000
Trade-in of equipment $ 0 $ 2,193
v3.25.3
Supplemental Statement of Cash Flows Information - Restricted Cash, and Cash Equivalents Reconciliation (Details) - USD ($)
$ in Thousands
Sep. 30, 2025
Dec. 31, 2024
Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]      
Cash and cash equivalents $ 474,738 $ 273,645 $ 275,359
Restricted cash 24,998 $ 24,594 25,663
Cash and cash equivalents included in settlement assets 8,243   25,260
Cash, cash equivalents, restricted cash and cash included in settlement assets $ 507,979   $ 326,282
v3.25.3
Subsequent Events (Details)
$ / shares in Units, R$ in Millions, $ in Millions
 3 Months Ended
Oct. 23, 2025
$ / shares
Oct. 01, 2025
USD ($)
Oct. 01, 2025
BRL (R$)
Sep. 30, 2025
$ / shares
Jun. 30, 2025
$ / shares
Mar. 31, 2025
$ / shares
Sep. 30, 2024
$ / shares
Jun. 30, 2024
$ / shares
Mar. 31, 2024
$ / shares
Subsequent Event [Line Items]                  
Cash dividends on common stock (in usd per share)       $ 0.05 $ 0.05 $ 0.05 $ 0.05 $ 0.05 $ 0.05
Subsequent Event                  
Subsequent Event [Line Items]                  
Cash dividends on common stock (in usd per share) $ 0.05                
Tecnobank Tecnologia Bancária S.A., ("Tecnobank") | Subsequent Event                  
Subsequent Event [Line Items]                  
Percentage of shares acquired   75.00% 75.00%            
Aggregate purchase price   $ 148 R$ 787