PART I [Item 1. FINANCIAL STATEMENTS](index=3&type=section&id=Item%201.%20FINANCIAL%20STATEMENTS) This section presents the unaudited consolidated financial statements, including balance sheets, statements of comprehensive income (loss), statements of shareholders' equity, and statements of cash flows, along with detailed notes providing supplemental information and accounting policies [Consolidated Balance Sheets](index=3&type=section&id=DELUXE%20CORPORATION%20CONSOLIDATED%20BALANCE%20SHEETS%20%28unaudited%29) Presents the company's financial position, including assets, liabilities, and equity, at specific reporting dates Consolidated Balance Sheets | Metric | March 31, 2021 (in thousands) | December 31, 2020 (in thousands) | | :-------------------------------- | :------------------------------ | :------------------------------- | | Total assets | $1,893,252 | $1,874,863 | | Total current assets | $504,496 | $506,631 | | Total current liabilities | $404,568 | $411,820 | | Total shareholders' equity | $558,819 | $540,838 | [Consolidated Statements of Comprehensive Income (Loss)](index=4&type=section&id=DELUXE%20CORPORATION%20CONSOLIDATED%20STATEMENTS%20OF%20COMPREHENSIVE%20INCOME%20%28LOSS%29%20%28unaudited%29) Reports the company's revenues, expenses, and net income or loss, including comprehensive income, for the period Consolidated Statements of Comprehensive Income (Loss) | Metric | Q1 2021 (in thousands) | Q1 2020 (in thousands) | Change (YoY) | | :-------------------------------- | :--------------------- | :--------------------- | :----------- | | Total revenue | $441,264 | $486,423 | -9.3% | | Gross profit | $262,755 | $284,374 | -7.5% | | Operating income (loss) | $36,006 | $(60,814) | N/A | | Net income (loss) | $24,325 | $(60,131) | N/A | | Basic earnings (loss) per share | $0.58 | $(1.43) | N/A | | Diluted earnings (loss) per share | $0.57 | $(1.45) | N/A | [Consolidated Statements of Shareholders' Equity](index=5&type=section&id=DELUXE%20CORPORATION%20CONSOLIDATED%20STATEMENTS%20OF%20SHAREHOLDERS%27%20EQUITY%20%28unaudited%29) Outlines changes in shareholders' equity components, including net income, dividends, and share-based compensation Consolidated Statements of Shareholders' Equity | Metric | Q1 2021 (in thousands) | Q1 2020 (in thousands) | | :-------------------------------- | :--------------------- | :--------------------- | | Balance, December 31, 2020/2019 | $540,838 | $570,861 | | Net income (loss) | $24,292 | $(60,131) | | Cash dividends ($0.30 per share) | $(12,832) | $(12,861) | | Common shares issued | $1,041 | $1,882 | | Employee share-based compensation | $6,199 | $4,659 | | Other comprehensive income (loss) | $1,609 | $(12,007) | | Balance, March 31, 2021/2020 | $558,819 | $473,967 | [Consolidated Statements of Cash Flows](index=6&type=section&id=DELUXE%20CORPORATION%20CONSOLIDATED%20STATEMENTS%20OF%20CASH%20FLOWS%20%28unaudited%29) Summarizes cash inflows and outflows from operating, investing, and financing activities for the period Consolidated Statements of Cash Flows | Metric | Q1 2021 (in thousands) | Q1 2020 (in thousands) | Change (YoY) | | :-------------------------------- | :--------------------- | :--------------------- | :----------- | | Net cash provided by operating activities | $39,581 | $26,468 | +$13,113 | | Net cash used by investing activities | $(21,850) | $(13,915) | -$7,935 | | Net cash (used) provided by financing activities | $(14,231) | $211,156 | -$225,387 | | Net change in cash, cash equivalents, restricted cash and restricted cash equivalents | $5,106 | $210,992 | -$205,886 | | Cash, cash equivalents, restricted cash and restricted cash equivalents, end of period | $234,515 | $385,803 | -$151,288 | [NOTE 1: CONSOLIDATED FINANCIAL STATEMENTS](index=7&type=section&id=NOTE%201%3A%20CONSOLIDATED%20FINANCIAL%20STATEMENTS) This note clarifies that the interim financial statements are unaudited and prepared using management's estimates and assumptions, particularly concerning the COVID-19 pandemic's impact, which may differ from actual results - Interim financial statements are unaudited and rely on management estimates and assumptions, especially regarding the COVID-19 pandemic's impact, which may differ from actual results[15](index=15&type=chunk)[16](index=16&type=chunk) [Comparability](index=7&type=section&id=Comparability) Corrects Q1 2020 cash flow statement errors, confirming no impact on total assets, liabilities, equity, or net income - Misstatements in Q1 2020 cash flow statement related to long-term debt and capital expenditures were corrected, with no impact on total assets, liabilities, shareholders' equity, or net income[17](index=17&type=chunk)[18](index=18&type=chunk) Comparability | (in thousands) | Reported (Q1 2020) | Adjustment | Revised (Q1 2020) | | :--------------------------------------------------------------------- | :----------------- | :--------- | :---------------- | | Accounts payable | $(18,059) | $7,914 | $(10,145) | | Net cash provided by operating activities | $18,554 | $7,914 | $26,468 | | Purchases of capital assets | $(6,355) | $(7,914) | $(14,269) | | Net cash used by investing activities | $(6,001) | $(7,914) | $(13,915) | | Proceeds from issuing long-term debt | $1,011,000 | $(702,000) | $309,000 | | Payments on long-term debt | $(754,500) | $702,000 | $(52,500) | | Net cash provided by financing activities | $211,156 | $— | $211,156 | [NOTE 2: NEW ACCOUNTING PRONOUNCEMENTS](index=8&type=section&id=NOTE%202%3A%20NEW%20ACCOUNTING%20PRONOUNCEMENTS) The company adopted Accounting Standards Update No. 2019-12 on January 1, 2021, which did not have a significant impact on its results of operations or financial position - Adoption of ASU No. 2019-12 on January 1, 2021, had no significant impact on financial results or position[21](index=21&type=chunk) [NOTE 3: SUPPLEMENTAL BALANCE SHEET AND CASH FLOW INFORMATION](index=8&type=section&id=NOTE%203%3A%20SUPPLEMENTAL%20BALANCE%20SHEET%20AND%20CASH%20FLOW%20INFORMATION) This note provides detailed breakdowns for various balance sheet and cash flow items, including inventories, available-for-sale debt securities, revenue in excess of billings, intangibles, goodwill, other non-current assets, prepaid product discounts, and accrued liabilities [Inventories and supplies](index=8&type=section&id=Inventories%20and%20supplies) Provides a detailed breakdown of inventory and supplies, including raw materials, semi-finished goods, finished goods, and reserves Inventories and supplies | (in thousands) | March 31, 2021 | December 31, 2020 | | :---------------------------- | :------------- | :---------------- | | Raw materials | $5,415 | $5,412 | | Semi-finished goods | $7,916 | $7,943 | | Finished goods | $31,464 | $33,513 | | Supplies | $5,263 | $5,010 | | Reserve for excess and obsolete items | $(12,939) | $(11,748) | | **Inventories and supplies** | **$37,119** | **$40,130** | [Available-for-sale debt securities](index=9&type=section&id=Available-for-sale%20debt%20securities) Details the fair value of available-for-sale debt securities, including money market funds and government securities Available-for-sale debt securities | (in thousands) | March 31, 2021 Fair Value | December 31, 2020 Fair Value | | :--------------------------------------- | :------------------------ | :------------------------- | | Domestic money market fund | $12,000 | $15,000 | | Canadian and provincial government securities | $9,411 | $9,533 | | Canadian guaranteed investment certificate | $3,980 | $3,929 | | **Available-for-sale debt securities** | **$25,391** | **$28,462** | [Revenue in excess of billings](index=10&type=section&id=Revenue%20in%20excess

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2020 Commission file number: 1-7945 DELUXE CORPORATION (Exact name of registrant as specified in its charter) | --- | --- | --- | |----------------------------------------------------------------|-------|-------| | | | | | MN | | | | (State or other jurisdiction of incorporation or organization) | | | | ...

Call Start: 16:45 January 1, 0000 5:33 PM ET Deluxe Corporation (NYSE:DLX) Q4 2020 Earnings Conference Call February 4, 2021 16:45 ET Company Participants Jane Elliott - Chief Communications & HR Officer Barry McCarthy - President & Chief Executive Officer Keith Bush - Chief Financial Officer Conference Call Participants Charlie Strauzer - CJS Chris McGinnis - Sidoti & Co. Operator Ladies and gentlemen, thank you for standing by, and welcome to the Deluxe Fourth Quarter and Full Year 2020 Earnings Conferenc ...

Financial Data and Key Metrics Changes - The company reported revenue of $439 million, a decline of 11% or $54 million compared to the same period last year, but a sequential improvement of 600 basis points from the second quarter [10][26] - Adjusted EBITDA margins improved by 290 basis points sequentially to 23.3%, although it declined by 90 basis points year-over-year [10][29] - Net income for the quarter was $29.4 million, a significant increase from a net loss of $318.5 million in Q3 2019, which included noncash asset impairment charges [28] Business Line Data and Key Metrics Changes - Payments revenue grew by 15.6% year-over-year to $74.7 million, driven by treasury management services [30] - Cloud Solutions revenue declined by 20.3% to $63.8 million, with a sequential improvement noted in data-driven marketing revenue [31] - Promotional Solutions revenue also declined by 20.3% to $124.9 million, but showed a sequential growth of about 6% [32] - Check revenue decreased by 8.4% to $176.1 million, with adjusted EBITDA margin at 48.3% [33] Market Data and Key Metrics Changes - The company experienced a sequential improvement in overall revenue and margins, indicating a recovery trend despite ongoing pandemic challenges [7][8] - The Payments business is expected to maintain double-digit growth in the long term, while the Cloud and Promotional Solutions segments are anticipated to lag in recovery due to reduced discretionary spending [18][19] Company Strategy and Development Direction - The company is focused on its "One Deluxe" strategy, which emphasizes cross-selling and integrating services across its business lines [14][39] - Significant investments have been made in technology upgrades and infrastructure consolidation, with nearly 60% reduction in operational sites over the last 18 months [13][65] - The company aims to maintain adjusted EBITDA margins of 20% or better in the long term, despite the challenges posed by COVID-19 [23][37] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's financial strength and ability to navigate the pandemic, highlighting improved cash flow and reduced net debt [9][35] - The macro environment remains challenging, and while there is optimism for recovery, management refrained from providing specific guidance for Q4 or 2021 due to uncertainties [23][36] - The company is encouraged by new business starts and the potential for growth in the Payments and Check segments as the economy recovers [45][58] Other Important Information - The company declared a regular quarterly dividend of $0.30 per share, reflecting its strong financial position [38] - Cash from operating activities for the year-to-date was $166.8 million, with free cash flow at $124.1 million, despite a decline due to COVID-related impacts [34] Q&A Session Summary Question: Thoughts on Q4 versus Q3 performance - Management indicated that while Q4 may show some slowdown due to COVID impacts, they expect to maintain margins at 20% or better [43][44] Question: Impact of small business closures - Management noted that while small business closures are a concern, there is a positive trend in new business formations that could offset this [45] Question: Outlook for the Cloud business - Management acknowledged that while there was some improvement in Q3, larger financial customers remain cautious, and recovery may extend into 2021 [46][48] Question: Cross-selling performance - Management highlighted 175 cross-sell deals totaling $11 million, demonstrating the effectiveness of their unified sales strategy [50][51] Question: Future of the Checks business - Management believes that as the economy recovers, the volume of checks will return to normal levels, despite ongoing secular declines [56][58] Question: Digital checks adoption - Management reported positive customer adoption of eChecks, which are seen as a timely solution in the current environment [60] Question: Cost savings from new headquarters - Management discussed the strategic move to new headquarters as a cost-saving measure and a way to enhance employee attraction and customer engagement [62][64]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to ___________ Commission file number: 1-7945 DELUXE CORPORATION (Exact name of registrant as specified in its charter) MN (State or other jurisdi ...

Deluxe Corporation (NYSE:DLX) Q2 2020 Earnings Conference Call July 30, 2020 4:30 PM ET Company Participants Ed Merritt - Vice President, Corporate Finance and Treasurer Barry McCarthy - President and Chief Executive Officer Keith Bush - Chief Financial Officer Jane Elliott - Chief Communications and HR Officer Conference Call Participants Charlie Strauzer - CJS Chris McGinnis - Sidoti & Company Operator Ladies and gentlemen, thank you for standing by, and welcome to the Second Quarter 2020 Deluxe Earnings ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to ___________ Commission file number: 1-7945 DELUXE CORPORATION (Exact name of registrant as specified in its charter) MN 41-0216800 (State or other j ...

Financial Data and Key Metrics Changes - Total revenue for Q1 2020 was $486.4 million, representing a decline of 2.5% compared to the previous year [34] - GAAP diluted loss per share was $1.45, including asset impairment charges of $90.3 million [35] - Adjusted diluted EPS was $1.08, down from $1.54 in 2019 [35] - Reported EBITDA for the quarter was a loss of $27.9 million, with adjusted EBITDA at approximately $83.3 million, down from $113.7 million last year [36] Business Line Data and Key Metrics Changes - Payments segment revenue grew 18% to $77 million, driven by new business wins [35][21] - Cloud Solutions revenue was nearly $76 million, declining about $2 million from last year [35] - Promotional Solutions revenue was approximately $143 million, down about $13 million from last year [35] - Checks revenue delivered nearly $191 million, declining about $9 million from last year [35] Market Data and Key Metrics Changes - The Northeast region experienced the most significant revenue declines due to COVID-19 [16] - Promotional Solutions and Cloud Solutions were the most impacted segments, with declines expected to continue into Q2 [14][17] Company Strategy and Development Direction - The company is focused on its "One Deluxe" strategy to become a sales-driven revenue growth company, moving away from reliance on acquisitions [9][11] - The Payments segment is seen as a key growth area, with new products and partnerships enhancing market position [22][54] - The company is identifying new business opportunities, such as selling PPE, to mitigate revenue declines [16][54] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strategy despite the challenges posed by COVID-19, noting that the strategy is yielding positive results [11][46] - The company anticipates a gradual recovery, with expectations for modest volume improvements in the latter half of the year [14][62] - Management highlighted the importance of maintaining financial flexibility and liquidity during the downturn [30][47] Other Important Information - The company has implemented cost-cutting measures, including a 20% reduction in salaried employees and the suspension of merit pay adjustments [29] - The company has drawn $1.14 billion on its credit facility to enhance liquidity, maintaining a cash position of about $300 million [39][40] Q&A Session Summary Question: General sentiment about the timeline of eventual recovery - Management believes the recovery will be gradual, resembling a "Nike Swoosh" shape, but lacks precise timing [61][62] Question: Additional cost management levers - Management indicated that there are still opportunities for structural efficiencies and cost savings [63][66] Question: Expectations for margin pressure - Management remains optimistic about long-term margin expansion despite short-term impacts from COVID-19 [70][71] Question: Growth expectations for the Payments side - Management expects the Payments business to outperform the broader economy due to new products and financial stability [74][75] Question: Changes in go-to-market strategy - The company has integrated its go-to-market strategy, allowing for broader conversations with customers and attracting competitors' clients [79][80]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to ___________ Commission file number: 1-7945 DELUXE CORPORATION (Exact name of registrant as specified in its charter) MN 41-0216800 (State or other ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2019 Commission file number: 1-7945 DELUXE CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) 3680 Victoria St. N. (Address of principal executive offices) ShoreviewMN | --- | --- | |-------|---------------------------------- ...