Deluxe Reports Fourth Quarter and Full Year 2022 Results

*Full year revenue increased 10.7%, and comparable adjusted revenue growth was 5.2%, delivering the second consecutive year of sales-driven revenue growth, with all four segments showing year-over-year increases
*Full year net income was $65.5 million, up 4.3% from the prior year and adjusted EBITDA margin rate was 18.7%
*Fourth quarter revenue declined 1.2% on a reported basis driven by business exits, while comparable adjusted revenue increased 1.2%, led by Payments, Data, and Promotional Solutions
*Fourth quarter net income was $19.0 million and adjusted EBITDA margin rate was 19.9%
*Recently announced the divestiture of the Company’s North American web hosting and logo businesses, and the name change of the Cloud Solutions segment to Data Solutions

Deluxe (NYSE: DLX), a Trusted Payments and Business Technology™ company, today reported operating results for its fourth quarter and year ended December 31, 2022.

“Deluxe has now delivered its second consecutive year of sales-driven growth, an achievement not seen in over a decade. This proves our ability to shift into a Payments and Data company, with Payments becoming our largest revenue business in the first half of 2023,” said Barry McCarthy, President and CEO of Deluxe. “Full year revenue was driven by increases in all four segments, particularly our growth areas within Payments and Data, which includes Merchant Services, Digital Payments, and Data Driven Marketing.”

“Our fourth quarter results demonstrate solid top line growth as we continue to execute on our strategy,” said Chip Zint, Senior Vice President and Chief Financial Officer of Deluxe. “Looking ahead into 2023, we expect to see continued revenue growth, operating efficiencies, and improvements in free cash flow.”
details at: https://www.investors.deluxe.com/News/news/news-details/2023/Deluxe-Reports-Fourth-Quarter-and-Full-Year-2022-Results-Provides-Full-Year-2023-Outlook/default.aspx

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