Company: DLX
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000027996-25-000163
Chunk: 7

Company: DELUXE CORP
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 1
Chunk 7
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28,947)(29,916)Non-controlling interest238 166 Total shareholders’ equity638,668 620,918 Total liabilities and shareholders’ equity$2,535,034 $2,831,036 

See Condensed Notes to Unaudited Consolidated Financial Statements

3

DELUXE CORPORATIONCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME(unaudited)

Quarter EndedJune 30,Six Months EndedJune 30,(in thousands, except per share amounts)2025202420252024Product revenue$281,359 $309,225 $569,673 $609,536 Service revenue239,903 228,591 488,060 463,234 Total revenue521,262 537,816 1,057,733 1,072,770 Cost of products(104,697)(115,170)(214,377)(229,505)Cost of services (137,301)(133,856)(283,045)(270,938)Total cost of revenue(241,998)(249,026)(497,422)(500,443)Gross profit279,264 288,790 560,311 572,327 Selling, general and administrative expense(214,426)(233,818)(439,737)(467,911)Restructuring and integration expense(4,047)(11,064)(11,715)(24,868)Gain on sale of businesses and long-lived assets— 15,401 — 23,982 Operating income60,791 59,309 108,859 103,530 Interest expense(30,944)(30,197)(62,210)(61,006)Other income, net1,823 1,786 4,290 4,726 Income before income taxes31,670 30,898 50,939 47,250 Income tax provision(9,248)(10,401)(14,470)(15,923)Net income22,422 20,497 36,469 31,327 Net income attributable to non-controlling interest(37)(38)(72)(65)Net income  attributable to Deluxe$22,385 $20,459 $36,397 $31,262 Total comprehensive income$23,507 $20,434 $37,438 $35,455 Comprehensive income attributable to Deluxe23,470