Euronet Q1 2026: CoreCard acquisition drives revenue, but margin compression and tax rate spike weigh on earnings

Filed May 7, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 7, 2025 · ~2 min read

Key Changes

• high

  Effective tax rate surged to 43.7% from 15.6% prior year, as Q1 2025's one-time deferred tax benefit from convertible note repurchase did not recur. Higher foreign tax rates and normalized U.S. deferred tax activity drove the increase.

  MD&A: Tax Rate verify on EDGAR →
• high

  CoreCard acquisition (Q4 2025) boosted EFT revenue but compressed gross margin from 41.3% to 40.7% and operating margin from 10.0% to 7.9%, as Bilt credit card processing generates higher revenue at lower margins.

  MD&A: EFT Segment verify on EDGAR →
• high

  Money Transfer revenue growth slowed to 2% (from 9% prior year) as immigration reform reduced U.S.-to-Mexico transfers and Middle East volumes declined, offsetting 35% digital transaction growth.

  MD&A: Money Transfer verify on EDGAR →