Company: DLX
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000027996-25-000163
Chunk: 95

Company: DELUXE CORP
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 95
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 and first half of 2025 increased compared to the same periods in 2024, reflecting our pricing actions and ongoing cost management efforts.

Data Solutions

Results for our Data Solutions segment were as follows:

 Quarter Ended June 30,Six Months Ended June 30,(in thousands)20252024Change20252024ChangeTotal revenue$67,829 $57,393 18.2%$145,056 $117,104 23.9%Adjusted EBITDA20,367 15,796 28.9%40,060 30,665 30.6%Adjusted EBITDA margin30.0%27.5%2.5 pts.27.6%26.2%1.4 pts.

Total revenue for the second quarter and first half of 2025 increased compared to the same periods in 2024, driven by strong demand for customer acquisition marketing activities, particularly from our financial institution partners. Additionally, we added new clients in various other verticals, contributing to the revenue growth. It is important to note that the timing of campaigns within this business can lead to quarter-to-quarter volatility, making specific quarterly growth rates more challenging to predict.

Adjusted EBITDA for the second quarter and first half of 2025 increased compared to the same periods in 2024, primarily driven by the increase in data-driven marketing volume and continued realization of operating expense efficiencies, which included favorability from vendor rebates. Adjusted EBITDA margin increased for the second quarter and first half of 2025 compared to the same periods in 2024, primarily due to a favorable mix of clients and campaigns compared to 2024, as well as operating expense efficiencies.

Print

Results for our Print segment were as follows:

 Quarter Ended June 30,Six Months Ended June 30,(in thousands)20252024Change20252024ChangeTotal revenue$281,047 $308,745 (9.0%)$572,351 $612,079 (6.5%)Adjusted EBITDA90,352 93,863 (3.7%)181,186 184,819 (2.0%)Adjusted EBITDA margin32.1%30.4%1.7 pts.31.7%30.2%1.5 pts.

Total revenue for the second quarter and first half of 2025 decreased compared to the same periods in 2024, mainly due to a decline in revenue from promotional products