Deluxe Corporation · NYSE:DLX
Deluxe — Q1 2026 Earnings Presentation
33 slides from Deluxe's earnings presentation, May 6, 2026
Slide 1: First Quarter 2026 Earnings
First Quarter 2026 Earnings May 6, 2026 © 2026 Deluxe Corporation
Slide 2: Brian Anderson
Brian Anderson Vice President, Strategy & Investor Relations 2
Slide 3: Today's Presenters
Today’s Presenters Barry McCarthy Chip Zint Brian Anderson President and Senior Vice President and Vice President, Chief Executive Officer Chief Financial Officer Strategy & Investor Relations 3
Slide 4: Cautionary Statement
Cautionary Statement Statements made in this presentation regarding Deluxe, the company’s,or management’s intentions, expectations, outlook, or predictions about future results or events are considered “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. These sta
Slide 5: Barry McCarthy
Barry McCarthy President and Chief Executive Officer 5
Slide 6: Q1'26 Financial Highlights
Q1'26 Financial Highlights (in millions) +0.3% +2.7% n/m +17.7% +19.7% n/m – not meaningful 6
Slide 7: Q1'26 Comparable Adjusted Highlights
Q1'26 Comparable Adjusted Highlights Organic growth of revenue & earnings; 3.0x net leverage ratio target reached • Data Solutions Revenue +26.3% vs. Q1'25 DRIVE PAYMENTS & • Merchant Services Revenue +7.3% vs. Q1'25 DATA GROWTH • B2B Payments Revenue +4.7% vs. Q1'25 • Print Comp Adj Revenue (5.9%);
Slide 8: Q1'26 Financial Overview
Q1'26 Financial Overview Revenue mix shifting towards Payments and Data LEGACY PRINT BUSINESSES PAYMENTS & DATA BUSINESSES CORPORATE OUR BUSINESSES Promotional Merchant B2B Checks Products Services Payments Data Corporate Q1'26 REVENUE $262.2 million $275.9 million - Rev % of Total DLX 48.7% 51.3% -
Slide 9: Long-term Value Creation Algorithm
Long-term Value Creation Algorithm 9
Slide 10: Chip Zint
Chip Zint Chief Financial Officer 10
Slide 11: Q1'26 Financial Summary
Q1'26 Financial Summary Comparable Metrics TOTAL REVENUE NET INCOME Adjusted EBITDA Adj. EBITDA margin Adj. Diluted EPS $538.1M $35.8M $117.9M 21.9% $1.05 Up 0.3% Or $0.77 per share Increased 19.7% Increased 310 Up 45.8% versus Q1'25; on a diluted basis; versus Q1'25 basis points compared to Compara
Slide 12: Merchant Services
Merchant Services Payment Processing & Omnichannel Payments Terminals & Devices Reporting (in millions) +7.3% +25.2% Adjusted EBITDA margin was 25.5%, up 360 basis points year-over- year, driven by revenue growth, channel mix, and late-2025 purchase of residual commission rights 12
Slide 13: B2B Payments
B2B Payments Treasury Management B2B/Digital Payments Fraud & Security Receivables as a Service Payables as a Service Protection (in millions) +4.7% +29.3% Adjusted EBITDA margin was 23.4%, up 450 basis points year-over- year driven by operating and SG&A efficiencies 13
Slide 14: Data Solutions
Data Solutions Data Driven Marketing Data Analytics and SMB SaaS Solutions (in millions) +26.3% +15.7% Adjusted EBITDA margin was 23.4%, in line with full-year low- to mid-20 percent rate outlook 14
Slide 15: Print
Print Consumer and Web Storefront Platform Extensive range of Business Essentials Business Checks for Branded Products Promotional offerings (in millions) -10.0% -5.6% -5.9% -3.8% Adjusted EBITDA margin for Q1 26 was 32.7%, up 70 basis points year-over-year, on a comparable adjusted basis on operati
Slide 16: Balance Sheet and Cash Flow
Balance Sheet and Cash Flow Net Debt to Adjusted EBITDA Free Cash Flow (in millions) (in millions) For the 12 Months Ended For the Quarter Ended 3/31/2026 12/31/2025 Variance 3/31/2026 03/31/2025 Variance Cash Provided by Net Debt $1,369.9 $1,392.5 ($22.6) $52.7 $50.3 $2.4 Operating Activities LTM A
Slide 17: 2026 Guidance
2026 Guidance Declared regular dividend of $0.30 per share Updated to reflect Safeguard divestiture Additional modeling assumptions: • Interest expense of approximately $110 million • Adjusted tax rate of 26% • Depreciation and amortization of $135 million, of which acquisition amortization is appro
Slide 18: Long-term Value Creation Algorithm
Long-term Value Creation Algorithm 18
Slide 19: Questions
» « dlx
Slide 20: Brian Anderson
Brian Anderson Vice President, Strategy & Investor Relations 20
Slide 21: Upcoming Conferences/Events
Upcoming Conferences/Events 21
Slide 22: Appendix
Appendix dlx
Slide 23: Consolidated Condensed Statements of Income
Consolidated Condensed Statements of Income in millions, except per share amounts (Unaudited) Quarter Ended March 31, 2026 2025 Revenue $538.1 $536.5 Cost of revenue (258.7) (255.5) Selling, general and administrative expense (209.3) (225.2) Restructuring and integration expense (3.4) (7.7) Gain on
Slide 24: Segment Information
Segment Information in millions (Unaudited) Quarter Ended March 31, 2026 2025 Revenue: Merchant Services $104.9 $97.8 B2B Payments 73.5 70.2 Data Solutions 97.5 77.2 Print 262.2 291.3 Total $538.1 $536.5 Comparable adjusted revenue $538.1 $523.9 Adjusted EBITDA: Merchant Services $26.8 $21.4 B2B Pay
Slide 25: Reconciliation of GAAP to Non-GAAP Measures
Reconciliation of GAAP to Non-GAAP Measures EBITDA, Adjusted EBITDA, and Adjusted EBITDA margin in millions (Unaudited) Quarter Ended March 31, 2026 2025 Net income $35.8 $14.0 Interest expense 27.7 31.3 Income tax provision 10.8 5.3 Depreciation and amortization expense 36.7 35.3 EBITDA 111.0 85.9
Slide 26: Reconciliation of GAAP to Non-GAAP Measures
Reconciliation of GAAP to Non-GAAP Measures Adjusted Diluted EPS - Q1 2026 dollars and shares in millions, except per share amounts (Unaudited) Gain on Restructuring Share-based Certain legal sale of Income tax Q1 2026 Acquisition and integration compensation /environmental businesses/ impact of Q1
Slide 27: Reconciliation of GAAP to Non-GAAP Measures
Reconciliation of GAAP to Non-GAAP Measures Adjusted Diluted EPS - Q1 2025 dollars and shares in millions, except per share amounts (Unaudited) Restructuring Share-based Certain legal / Income tax Q1 2025 Acquisition and integration compensation environmental impact of Q1 2025 GAAP amortization expe
Slide 28: Reconciliation of GAAP to Non-GAAP Measures
Reconciliation of GAAP to Non-GAAP Measures Comparable Adjusted Revenue / Comparable Adjusted EBITDA / Comparable Adjusted EBITDA Margin in millions (Unaudited) Quarter Ended March 31, 2026 2025 Total Company: Revenue $538.1 $536.5 Less: business exit — (12.6) Comparable adjusted revenue $538.1 $523
Slide 29: Reconciliation of GAAP to Non-GAAP Measures
Reconciliation of GAAP to Non-GAAP Measures Print Comparable Adjusted Revenue / Comparable Adjusted EBITDA / Comparable Adjusted EBITDA Margin in millions (Unaudited) Quarter Ended March 31, 2026 2025 Print Segment: Revenue $262.2 $291.3 Less: business exit — (12.6) Comparable adjusted revenue $262.
Slide 30: Reconciliation of GAAP to Non-GAAP Measures
Reconciliation of GAAP to Non-GAAP Measures Comparable Adjusted Revenue / Comparable Adjusted EBITDA / Comparable Adjusted EPS Outlook (Unaudited) Full Year 2026 Outlook 2025 Actual (in billions) Revenue $1.985 - $2.050 $2.133 Less: Business exit (1) — (0.128) Comparable adjusted revenue $1.985 - $2
Slide 31: Reconciliation of GAAP to Non-GAAP Measures
Reconciliation of GAAP to Non-GAAP Measures Net Debt to Adjusted EBITDA dollars in millions (Unaudited) March 31, December 31, 2026 2025 Total debt $1,397.1 $1,429.4 Cash and cash equivalents (27.2) (36.9) Net debt $1,369.9 $1,392.5 TRAILING 12 MONTHS ADJUSTED EBITDA: 12 Months Ended 12 Months Ended
Slide 32: Reconciliation of GAAP to Non-GAAP Measures
Reconciliation of GAAP to Non-GAAP Measures Free Cash Flow in millions (Unaudited) Quarter Ended March 31, 2026 2025 Net cash provided by operating activities $52.7 $50.3 Purchases of capital assets (25.4) (26.0) Free cash flow $27.3 $24.3 32
Slide 33: deluxe.
deluxe.