Fintech company FIS® (NYSE:FIS) today reported its second quarter 2026 financial results.

On a GAAP basis, revenue increased 29% as compared to the prior-year period to approximately $3.4 billion. GAAP net earnings attributable to common stockholders were $231 million or $0.45 per diluted share.

On an adjusted basis, revenue increased 31% as compared to the prior-year period. Adjusted EBITDA increased 35% to approximately $1.4 billion and Adjusted EBITDA margin expanded by 193 basis points (bps) compared to the prior-year period to 41.7%, reflecting the acquisition of the high margin Total Issuing Solutions™ business, favorable mix and cost savings. Adjusted net earnings were $763 million, and Adjusted EPS increased by 9% as compared to the prior-year period to $1.48 per diluted share.

On a Pro Forma basis, revenue increased 5.3% as compared to the prior-year period, including recurring revenue growth of 5.1%. Pro Forma adjusted EBITDA increased 7.4% and Pro Forma adjusted EBITDA margin expanded by 113 basis points (bps) compared to the prior-year period to 41.7%, reflecting favorable mix and cost savings.

Second quarter net cash provided by operating activities was $493 million and Free cash flow1 was $525 million, up 220% as compared to the prior-year period. The Company returned $270 million of capital to shareholders through $42 million of share repurchases and $228 million of dividends paid. As of June 30, 2026, debt outstanding totaled $21.2 billion.

FIS expects to resume meaningful share repurchases once it has achieved its target gross leverage of approximately 2.8x.

“Our first half reflects the strength of the business we have built defined by durable recurring growth, expanding margins, and accelerating cash generation,” said FIS CEO and President Stephanie Ferris. “Banks are investing decisively behind modernization and AI, and they are choosing FIS as their partner. With the Total Issuing Solutions acquisition ahead of plan, we are uniquely positioned to leverage our global scale and end-to-end solutions to serve financial institutions of all sizes.”