Deluxe Corporation (NYSE: DLX) reports developments as a payments and data company serving small businesses, financial institutions and large consumer brands. Its business spans Merchant Services, B2B Payments, Data Solutions and Print, including electronic card authorization and processing, treasury management, integrated accounts payable disbursements, data and analytics services, financial institution reporting, business incorporation services, checks, business essentials and branded print solutions.
Company news commonly covers quarterly results, merchant-services and payment-platform partnerships, product and technology modernization, and board governance. Updates also describe how Deluxe extends payment capabilities through financial institution and software relationships, while recurring financial releases discuss operating results, cash flow, debt and segment performance.
Deluxe Corporation has been nominated for an Emmy® for its Small Business Revolution reality show, specifically the sixth season in the Outstanding Lifestyle Program category. This season highlighted six Black-owned businesses in Minneapolis and St. Paul, showcasing how Deluxe's support helped them thrive amidst challenges, including COVID-19. The Creative Arts & Lifestyle Daytime Emmy Awards will take place on June 18, and this nomination marks the second for the series, further validating Deluxe's commitment to assisting small business owners.
Deluxe (NYSE: DLX) announced that Barry C. McCarthy, President and CEO, and Scott C. Bomar, CFO, will present at the 17th Annual Needham Technology & Media Conference on May 16 at 10:15 am EDT. Interested parties can access a live webcast via the investor relations section of Deluxe's website, with a replay available post-event. Deluxe has established itself as a trusted payments and business technology provider, processing approximately $3 trillion in annual payment volume, supporting small businesses, financial institutions, and major consumer brands.
Deluxe reported a 26.0% revenue growth in Q1 2022, with total revenue reaching $556.0 million. Excluding the First American acquisition, revenue growth stood at 7.1%. All segments achieved year-over-year revenue increases, particularly the Payments segment, which surged 109.1% to $166.2 million. However, net income plummeted 60.1% to $9.7 million, and Adjusted EBITDA margin declined to 17.9%. A quarterly dividend of $0.30 per share was declared, payable June 6, 2022. Full-year revenue growth is projected at 8% to 10%.
Deluxe announces the appointment of Yogaraj Jayaprakasam as Chief Technology and Digital Officer, marking a step towards transforming the company into a payments and data enterprise. With extensive experience from American Express, Jayaprakasam will oversee technology and digital platforms, aiming to enhance operational efficiency through cloud-based infrastructure. His leadership is expected to drive innovation in product offerings, supporting Deluxe's mission to empower businesses. The company processes over $2.8 trillion in annual payment volume.
Deluxe (NYSE:DLX) has partnered with BillGO to enhance its Deluxe Payment Exchange (DPX) platform, enabling digitized check delivery for payments. This collaboration aims to process billions in payments annually and provides businesses with more efficient digital payment options. BillGO can now leverage DPX for faster payment processing, improving cost efficiency and reducing reliance on paper checks, which are still used by 65% of small to mid-size U.S. businesses. The initiative targets increasing payment volumes and enhancing financial workflows for clients.
Deluxe Corporation (NYSE: DLX) has been recognized for the 14th consecutive year for its commitment to gender diversity in leadership roles. The company was honored during an event referencing The Minnesota Census of Women in Corporate Leadership, which evaluates women in executive positions across Minnesota's largest publicly traded companies. Cheryl Mayberry McKissack, Chair of the Board, is one of the few African American female board chairs of Fortune 1000 companies, further enhancing Deluxe's reputation in promoting diversity.
Outseer has appointed John Filby as its new CEO to lead the company's efforts in combating transactional fraud. Filby brings over 25 years of financial technology experience, previously serving at Global Holdings and Deluxe Corporation (NYSE: DLX). At Deluxe, he led essential FinTech acquisitions that modernized the business, while at Fiserv Inc. (NASDAQ: FISV), he developed successful transactional fraud products. His focus will be on leveraging Outseer’s capabilities to enhance fraud detection and customer service in a dynamic market.
Deluxe (NYSE:DLX) has signed a multi-year contract with Porsche North America, marking a significant win in its Promotional Solutions business. Deluxe will serve as the premium supplier for all printed products and promotional materials for Porsche in North America. Additionally, Deluxe becomes the title sponsor of the Porsche Carrera Cup racing series, enhancing its brand presence through various marketing initiatives. This partnership is expected to enrich the Porsche brand experience while furthering Deluxe's transition as a leading service provider in cloud and promotional solutions.
Deluxe (NYSE: DLX) will release its first quarter 2022 financial results on May 5, 2022, before the market opens. An open-access conference call is scheduled for 8:30 a.m. ET that same day, which can be accessed at 1-888-210-4748 (access code 7092711). A webcast will also be available on the investor relations website. For those unable to join live, a replay will be accessible after 11:30 a.m. ET until midnight on May 16, 2022, via 1-800-770-2030 (access code 7092711).
Deluxe specializes in business technology and payment solutions, processing over $2.8 trillion in annual payment volume.
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