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SEC Filings

425
FIDELITY NATIONAL INFORMATION SERVICES, INC. filed this Form 425 on 05/13/2019
Entire Document
 


Net Revenue

Net revenue in this segment increased 102% to $1,976.2 million for the year ended December 31, 2018 from $977.9 million for the year ended December 31, 2017. The prior year period excludes $956.2 million of Legacy Worldpay generated net revenue prior to our acquisition.

Sales and Marketing

Sales and marketing expense increased 85% to $683.7 million for the year ended December 31, 2018 from $368.6 million for the year ended December 31, 2017. The prior year period excludes $298.3 million of Legacy Worldpay generated sales and marketing expense prior to our acquisition. Additionally, higher residual payments to referral partners as a result of increased revenue also contributed to the increase.

Issuer Solutions

 

     Year Ended December 31,                
     2018      2017      $ Change      % Change  

Revenue

   $ 347.8      $ 458.9      $ (111.1      NM  

Network fees and other costs(1)

     —          123.1        (123.1      NM  
  

 

 

    

 

 

    

 

 

    

 

 

 

Net Revenue

     347.8        335.8        12.0        4

Sales and marketing

     25.1        23.0        2.1        9  
  

 

 

    

 

 

    

 

 

    

 

 

 

Segment profit

   $ 322.7      $ 312.8      $ 9.9        3
  

 

 

    

 

 

    

 

 

    

 

 

 

 

(1) 

For the year ended December 31, 2018 net revenue is equivalent to gross revenue since network fees and other costs are netted against gross revenue as the result of the Company’s adoption of ASC 606 on January 1, 2018.

Net Revenue

Net revenue in this segment increased 4% to $347.8 million for the year ended December 31, 2018 from $335.8 million for the year ended December 31, 2017.

Sales and Marketing

Sales and marketing expense increased 9% to $25.1 million for the year ended December 31, 2018 from $23.0 million for the year ended December 31, 2017.

 

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