Core Thesis - Euronet Worldwide, Inc. (EEFT) is viewed as a compelling investment opportunity due to its attractive valuation and multiple growth levers [2][5] Company Overview - Euronet provides payment and transaction processing solutions to various sectors, including financial institutions and retailers, and has evolved into a global payments powerhouse [2] - The company has diversified its offerings to include money transfers through Ria, gift cards via epay, and merchant acquiring, while continuously innovating its technology platforms [2] Financial Performance - Euronet's legacy segments generate over $400 million in annual free cash flow and have demonstrated over 20 years of double-digit EPS growth [3] - The company operates with a current EV/EBITDA multiple of 4.3x and a free cash flow yield of 16%, indicating a significant discount compared to historical peaks and peers [5] Growth Potential - The REN and Dandelion segments provide embedded optionality, with projected growth in credit card processing and digital cross-border payments expected to exceed 20% annually [3] - Euronet's efficient customer acquisition model allows it to scale globally at a fraction of competitors' costs, supported by strategic partnerships with major players like PayPal and Xoom [4] Capital Allocation and Stability - The company demonstrates disciplined capital allocation through consistent share buybacks, low leverage, and a BBB-rated balance sheet, which supports long-term financial stability [4] - Leadership alignment and recurring cash flow position Euronet for substantial upside, making it an attractive option for investors seeking exposure to a high-growth fintech platform [5]

Core Viewpoint - American Century Investments Small Cap Value Fund reported a strong performance in the third quarter of 2025, with equities rising and the US Federal Reserve reducing interest rates for the first time this year [1] Group 1: Fund Performance - The investor class of the fund returned 4.69% in the third quarter, while the Russell 2000 Value Index returned 12.60% [1] - The fund focuses on investing in undervalued small-cap companies that do not accurately reflect their quality and potential earnings capability [1] Group 2: Euronet Worldwide, Inc. (NASDAQ:EEFT) - Euronet Worldwide, Inc. is highlighted as a stock in the fund's portfolio, with a one-month return of 0.99% and a 52-week loss of 26.23% [2] - As of January 2, 2026, Euronet's stock closed at $74.10 per share, with a market capitalization of $3.116 billion [2] - The fund noted that Euronet's strong financial characteristics were overshadowed by challenges such as immigration policies and the rise of stablecoins affecting its money transfer business [3] Group 3: Hedge Fund Interest - Euronet Worldwide, Inc. was held by 30 hedge fund portfolios at the end of the third quarter, a decrease from 32 in the previous quarter [4] - The fund believes that certain AI stocks present greater upside potential and less downside risk compared to Euronet [4]

Group 1 - Voss Capital's funds returned +5.0% and +4.9% in Q3 2025, underperforming against the Russell 2000 Index (+12.4%), Russell 2000 Value Index (+12.6%), and S&P 500 Index (+8.3%) [1] - The Voss Value Master Fund had a total gross exposure of 205.4% and a net long exposure of 95.8% as of September 30, 2025 [1] - The top 10 long positions accounted for 77.8% of the fund, while the top 10 short positions represented -43.5% [1] Group 2 - Euronet Worldwide, Inc. (NASDAQ:EEFT) had a one-month return of 1.68% but lost 29.34% of its value over the last 52 weeks, closing at $74.52 per share with a market capitalization of $3.133 billion on December 01, 2025 [2] - Euronet Worldwide, Inc. has been a significant performance detractor for Voss Capital YTD, leading to a reduction in position to realize tax losses [3] - Recent results from Euronet Worldwide, Inc. showed weakness across all segments, with a lack of visibility into near-term growth drivers, necessitating catalysts such as a resumption of buybacks and an analyst day in early 2026 [3]