Summary of Selected Financial Data by Reportable Segment |
The following is selected financial data for the Company’s reportable segments for the periods indicated (in thousands): | | | | | | | | | | | | | | | | | | | Years Ended December 31, | | 2021 | | 2020 | | 2019 | Revenues | | | | | | Banks | $ | 625,125 | | | $ | 558,498 | | | $ | 590,961 | | Merchants | 152,988 | | | 149,342 | | | 156,452 | | Billers | 592,485 | | | 586,482 | | | 510,881 | | Total revenue | $ | 1,370,598 | | | $ | 1,294,322 | | | $ | 1,258,294 | | Segment Adjusted EBITDA | | | | | | Banks | $ | 372,949 | | | $ | 331,445 | | | $ | 343,844 | | Merchants | 54,266 | | | 53,383 | | | 60,820 | | Billers | 129,048 | | | 135,144 | | | 77,295 | | Depreciation and amortization | (133,393) | | | (140,316) | | | (122,569) | | Stock-based compensation expense | (27,242) | | | (29,602) | | | (36,763) | | Corporate and unallocated expenses | (185,731) | | | (205,310) | | | (198,871) | | Interest, net | (33,538) | | | (45,002) | | | (52,066) | | Other, net | (1,294) | | | (1,116) | | | 520 | | Income before income taxes | $ | 175,065 | | | $ | 98,626 | | | $ | 72,210 | |
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Summary of Revenue by Primary Geographic Markets and Primary Solution Categories |
| | | | | | | | | | | | | | | | | | | | | | | | | Year Ended December 31, 2021 | | Banks | | Merchants | | Billers | | Total | Primary Solution Categories | | | | | | | | Bill Payments | $ | — | | | $ | — | | | $ | 592,485 | | | $ | 592,485 | | Digital Business Banking | 60,398 | | | — | | | — | | | 60,398 | | Merchant Payments | — | | | 152,988 | | | — | | | 152,988 | | Fraud Management | 43,704 | | | — | | | — | | | 43,704 | | Real-Time Payments | 77,922 | | | — | | | — | | | 77,922 | | Issuing and Acquiring | 443,101 | | | — | | | — | | | 443,101 | | Total | $ | 625,125 | | | $ | 152,988 | | | $ | 592,485 | | | $ | 1,370,598 | | | | | | | | | | | Year Ended December 31, 2020 | | Banks | | Merchants | | Billers | | Total | Primary Solution Categories | | | | | | | | Bill Payments | $ | — | | | $ | — | | | $ | 586,482 | | | $ | 586,482 | | Digital Business Banking | 75,475 | | | — | | | — | | | 75,475 | | Merchant Payments | — | | | 149,342 | | | — | | | 149,342 | | Fraud Management | 32,942 | | | — | | | — | | | 32,942 | | Real-Time Payments | 80,654 | | | — | | | — | | | 80,654 | | Issuing and Acquiring | 369,427 | | | — | | | — | | | 369,427 | | Total | $ | 558,498 | | | $ | 149,342 | | | $ | 586,482 | | | $ | 1,294,322 | | | | | | | | | | | Year Ended December 31, 2019 | | Banks | | Merchants | | Billers | | Total | Primary Solution Categories | | | | | | | | Bill Payments | $ | — | | | $ | — | | | $ | 510,881 | | | $ | 510,881 | | Digital Business Banking | 77,319 | | | — | | | — | | | 77,319 | | Merchant Payments | — | | | 156,452 | | | — | | | 156,452 | | Fraud Management | 42,010 | | | — | | | — | | | 42,010 | | Real-Time Payments | 100,599 | | | — | | | — | | | 100,599 | | Issuing and Acquiring | 371,033 | | | — | | | — | | | 371,033 | | Total | $ | 590,961 | | | $ | 156,452 | | | $ | 510,881 | | | $ | 1,258,294 | |
The following is revenue by the Company's reportable segments for the periods indicated (in thousands): | | | | | | | | | | | | | | | | | | | Year Ended December 31, | | 2021 | | 2020 | | 2019 | Banks | | | | | | Software as a service and platform as a service | $ | 57,339 | | | $ | 69,254 | | | $ | 65,703 | | License | 310,758 | | | 232,143 | | | 256,097 | | Maintenance | 193,332 | | | 194,400 | | | 194,128 | | Services | 63,696 | | | 62,701 | | | 75,033 | | Total | $ | 625,125 | | | $ | 558,498 | | | $ | 590,961 | | Merchants | | | | | | Software as a service and platform as a service | $ | 124,933 | | | $ | 113,854 | | | $ | 101,666 | | License | 9,015 | | | 14,659 | | | 31,936 | | Maintenance | 16,846 | | | 16,981 | | | 18,968 | | Services | 2,194 | | | 3,848 | | | 3,882 | | Total | $ | 152,988 | | | $ | 149,342 | | | $ | 156,452 | | Billers | | | | | | Software as a service and platform as a service | $ | 592,070 | | | $ | 586,072 | | | $ | 510,300 | | License | 94 | | | 94 | | | 228 | | Maintenance | 321 | | | 316 | | | 313 | | Services | — | | | — | | | 40 | | Total | $ | 592,485 | | | $ | 586,482 | | | $ | 510,881 | |
The following is the Company's revenue by geographic location for the periods indicated (in thousands):
| | | | | | | | | | | | | | | | | | | Year Ended December 31, | | 2021 | | 2020 | | 2019 | Revenue | | | | | | United States | $ | 869,081 | | | $ | 830,511 | | | $ | 781,820 | | Other | 501,517 | | | 463,811 | | | 476,474 | | Total | $ | 1,370,598 | | | $ | 1,294,322 | | | $ | 1,258,294 | |
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