Business
Payoneer Announces Third Quarter 2022 Financial Results
Q3 2022 Revenue Growth of 30% and Raises Full Year 2022 Revenue and Adjusted EBITDA Guidance NEW YORK--(BUSINESS WIRE)-- Payoneer Global Inc. (“Payoneer”)
About this update from Payoneer Global Inc.
[{"type":"text","content":"\nQ3 2022 Revenue Growth of 30% and Raises Full Year 2022 Revenue and Adjusted EBITDA Guidance\n\n NEW YORK--(BUSINESS WIRE)--\nPayoneer Global Inc. (“Payoneer”) (NASDAQ: PAYO), the commerce technology company powering payments and growth for the new global economy, today reported financial results for its third quarter ended September 30, 2022.\n\nThird Quarter 2022 Financial Highlights\n\n\n($ in mm)\n\n3Q 2021\n\n\n\n4Q 2021\n\n\n\n1Q 2022\n\n\n\n2Q 2022\n\n\n\n3Q 2022\n\n\n\n\nYoY\n\n\nChange\n\n\n\n\nRevenue\n\n$122.7\n\n\n\n$139.2\n\n\n\n$137.0\n\n\n\n$148.2\n\n\n\n$158.9\n\n\n\n\n30%\n\n\n\n\nTransaction costs as a % of revenue\n\n20.1%\n\n\n\n20.2%\n\n\n\n18.7%\n\n\n\n17.7%\n\n\n\n17.6%\n\n\n\n(250 bps)\n\n\nRevenue less transaction costs\n\n$98.0\n\n\n\n$111.1\n\n\n\n$111.4\n\n\n\n$122.0\n\n\n\n$130.9\n\n\n\n\n34%\n\n\n\n\nNet income (loss)\n\n0.8\n\n\n\n(18.9)\n\n\n\n20.2\n\n\n\n4.4\n\n\n\n(26.5)\n\n\n\nN.M.\n\n\nAdjusted EBITDA\n\n6.1\n\n\n\n13.5\n\n\n\n10.4\n\n\n\n14.7\n\n\n\n12.7\n\n\n\n\n108%\n\n\n\n\n\n\n\n\n\n\n\n \n\n\nOperational Metrics\n\n\n\n\n\n\n\n\n\nVolume ($bn)\n\n$13.6\n\n\n\n$16.2\n\n\n\n$14.6\n\n\n\n$14.6\n\n\n\n$15.1\n\n\n\n\n11%\n\n\n\n\nRevenue as a % of volume (\"Take Rate\")\n90 bps\n86 bps\n94 bps\n101 bps\n105 bps\n\n15 bps\n\n\n“Payoneer reported strong third quarter results, achieving 30% revenue growth year-over-year, highlighting the global breadth and diversity of our revenue drivers,” said Scott Galit, Co-Chief Executive Officer of Payoneer. “Our performance reflects solid customer acquisition, adoption of High Value Services including B2B AP/AR and Commercial Mastercard, as well as accelerating interest income revenue from customer funds on our platform.”\n\n“Payoneer is powering the cross-border economy and capturing market share in high growth emerging markets. For example, we saw over 50% year-over-year revenue growth in the third quarter from customers in Latin America,” said John Caplan, Co-Chief Executive Officer of Payoneer. “Our opportunity is significant and emerging market SMBs are increasingly using our platform, even in times of macroeconomic and geopolitical uncertainty. We have an abundance of opportunity, a diversified business model, and talented people, and we are confident in our ability to execute going forward.”\n\nThird Quarter 2022 Business Highlights\n\nThe Compan...