Global Payments Inc. · NYSE:GPN
Global Payments — Q1 2025 Earnings Presentation
25 slides from Global Payments's earnings presentation, May 6, 2025
Slide 1: Global Payments 1Q 2025 earnings
globalpayments IQ 2025 earnings
Slide 2: Forward-looking statements
Forward-looking statements This presentation may contain certain forward-looking statements within the meaning of the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are based on current expectations, estimates and projections
Slide 3: 1Q 2025 Key Financial Metrics
1Q 2025 Key Financial Metrics +5% +70 bps +11% Adjusted net Adjusted operating Adjusted EPS revenue growth1 margin expansion growth2 (1) Adjusted net revenue growth on a constant currency basis excluding dispositions (2) Adjusted earnings per share growth on a constant currency basis 3 See appendix
Slide 4: Creating a new Global Payments
Creating a new Global Payments Pure play commerce solutions provider
Slide 5: Positioning Global Payments for the future
Positioning Global Payments for the future Acquiring Divesting Issuer Solutions Creates a leading global pure Simplification of business play commerce solutions model allows for provider across the merchant sharpened strategic spectrum focus Expands ecommerce, Opportunity for strategic enterprise, an
Slide 6: Strategic rationale
Strategic rationale Leading pure play Enhances Global presence Compelling Value in commerce products and and distribution synergies creation solutions capabilities at scale • Simplifies Global • Increased exposure • Expands global • Significant revenue • Exceptional financial Payments as a pure to high
Slide 7: Accelerating our strategy communicated at Investor Conference
Accelerating our strategy communicated at Investor Conference ● Sharpening focus by becoming a leading pure play commerce Strategic solutions provider Focus ● Concentrating investments on innovation in merchant-centric offerings ● Streamlined structure and operating model create strong foundation Op
Slide 8: Serving full spectrum of merchants
Serving full spectrum of merchants Full Merchant • Delivering innovative solutions and comprehensive suite of best-in-class Spectrum capabilities for merchant customers globally Ecommerce / • Enabling omnichannel commerce across most attractive verticals and Omnichannel geographies Integrated and •
Slide 9: Worldpay delivering improved performance across channels
Worldpay delivering improved performance across channels Growth Profile Delivering mid-single digit growth in revenue, volume and transactions Business line mix Transactions Payments Annually Transaction Volume 55B $2.5T ~50% ~25% ~25% Merchants Enterprise Clients Platforms ecommerce & SMB Enterprise
Slide 10: Revenue Synergies & Investment Priorities
Revenue Synergies & Investment Priorities • Extend Worldpay capabilities to Global Payments physical footprint Ecommerce & • Cross-sell products and services across • Digital-native and omnichannel solutions supporting Enterprise enterprise customer bases enterprise, multi-national and marketplace •
Slide 11: Transformation enhances confidence in integration plan
Transformation enhances confidence in integration plan Strong track record of outperforming timeline and synergy attainment for large integrations with proven processes Transformation progress has simplified organizational structure, operating model and technology architecture, creating strong founda
Slide 12: Accelerating medium term outlook
Accelerating medium term outlook 2026 & 2027 2026 & 2027 Global Payments Standalone GPN Merchant + Worldpay Mid-to-high single Accelerating to high-end of Net revenue growth digits mid-to-high single digits Operating margin 50-100 bps 100-200 bps expansion EPS growth Low teens Mid teens Levered free
Slide 13: Expense synergy opportunity
Expense synergy opportunity Key Assumptions ● Approximately $600M annualized run-rate Synergy Sources expense synergies ● Fully integrating into Global Payments’ new operating model Technology ● Majority of synergies driven by significant common expense areas ● Allows for combining best-in-class tech
Slide 14: Disciplined capital allocation strategy supports growth investments and shareholder returns
Disciplined capital allocation strategy supports growth investments and shareholder returns 2025-2027 2025-2027 2028 Global Payments Standalone GPN Merchant + Worldpay GPN Merchant + Worldpay Cumulative free $8.5-$9 billion ~$10 billion ~$5 billion cash flow (+50% vs standalone) Shareholder ~$7.5 bil
Slide 15: Global Payments Merchant Solutions
Global Payments Merchant Solutions Today (1) Tomorrow (2) Adjusted Net Revenue Adjusted Net Revenue ~$7B ~$12.5B Adjusted EBITDA / % margin Adjusted EBITDA / % margin ~$4B / 52% ~$6.5B(3) / 51%(3) Transaction volume Transaction volume ~$1T ~$4T 15 (1) Metrics are based on Merchant Solutions for 2025
Slide 16: 1Q 2025 financial results
1Q 2025 financial results
Slide 17: 1Q 2025 financial performance
1Q 2025 financial performance Adjusted net Adjusted Adjusted revenue growth operating margin EPS3 $2.2B 42.4% $2.69 +1% +70 bps +9% +5% constant currency +11% constant currency1 ex-dispositions1,2 +40 bps ex-dispositions2 (1) Adjusted net revenue growth and adjusted EPS growth on a constant currency
Slide 18: Segment financial performance and outlook
Segment financial performance and outlook Merchant Issuer Solutions Solutions 1Q 2025 1Q 2025 Adjusted net revenue Adjusted operating margin Adjusted net revenue Adjusted operating margin $1.7B +1% 47.8% +80 bps $529M +3% 46.3% -50 bps +6% constant currency +3% constant currency1 ex-dispositions1,2 2
Slide 19: LTM 1Q 2025 key metrics
LTM 1Q 2025 key metrics MERCHANT ISSUER POS & Integrated & Core Issuer Software Embedded Payments Solutions Adj. net revenue High-single-digit High-single-digit Mid-single-digit Low-single-digit growth1 Bookings New POS New ARR2 New partners New ARR2 New partners Traditional accounts growth location
Slide 20: 2025 outlook
2025 outlook Adjusted net revenue growth (constant currency ex-dispositions) 5% to 6% Adjusted operating margin expansion (ex-dispositions) 90%+ ~50 bps Adjusted free cash flow conversion Adjusted EPS growth (constant currency) 10% to 11% 20 See appendix for information regarding non-GAAP financial me
Slide 21: Non-GAAP financial measures
Non-GAAP financial measures Global Payments supplements revenues, operating income, operating margin, EPS and net operating cash flows determined in accordance with U.S. GAAP by providing these measures with certain adjustments (such measures being non-GAAP financial measures) in this document to assis
Slide 22: Reconciliation of Non-GAAP Financial Measures Consolidated (unaudited)
Reconciliation of Non-GAAP Financial Measures Consolidated (unaudited) (1) Includes adjustments to revenues for gross-up related payments (included in operating expenses) associated with certain lines of business to reflect economic benefits to the company. For the three months ended March 31, 2025 an
Slide 23: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Supplemental Schedule Excluding Effect of Share-Based Compensation Expense Consolidated (unaudited) (1) Includes adjustments to revenues for gross-up related payments (included in operating expenses) associated with certain lines of business to reflect ec
Slide 24: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures Segment Adjusted Net Revenue and Adjusted Operating Income (unaudited) (1) Includes adjustments to revenues for gross-up related payments (included in operating expenses) associated with certain lines of business to reflect economic benefits to the company
Slide 25: Reconciliation of Non-GAAP Financial Measures
Reconciliation of Non-GAAP Financial Measures 2025 Outlook Summary (unaudited) (1) Includes adjustments to revenues for gross-up related payments (included in operating expenses) associated with certain lines of business to reflect economic benefit to the company. Amounts also included adjustments to