Payoneer Reports First Quarter 2023 Financial Results

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[{"type":"text","content":"\n40% revenue growth with increasing profitability year-over-year\n\n\nStrategic focus on driving acquisition of customers who meet our Ideal Customer Profiles (“ICPs”)\n\n\nRaises 2023 Guidance\n\n\nBoard of Directors authorizes $80 million share repurchase program\n\n\n NEW YORK--(BUSINESS WIRE)--\n\nPayoneer Global Inc. (“Payoneer” or the “Company”) (NASDAQ: PAYO), the financial technology company empowering the world’s small and medium sized businesses to transact, do business and grow globally, today reported financial results for its first quarter ended March 31, 2023.\n\n\nFirst Quarter 2023 Financial Highlights\n\n\n\n($ in mm)\n\n \n\n\n\n\n\n\n1Q 2022\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n2Q 2022\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n3Q 2022\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n4Q 2022\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n1Q 2023\n\n\n\n\n\n\n \n\n\n\n\n\n\n YoY Change\n\n\nRevenue\n\n$\n\n\n\n\n\n\n137.0\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n148.2\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n158.9\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n183.6\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n192.0\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n40\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\nTransaction costs as a % of revenue\n\n \n\n\n\n\n\n\n18.7\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n17.7\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n17.6\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n16.6\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n14.1\n\n\n\n\n\n\n%\n\n\n\n\n\n\n(460 bps)\n\n\nRevenue less transaction costs\n\n$\n\n\n\n\n\n\n111.4\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n122.0\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n130.9\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n153.2\n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n164.9\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n48\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\nNet income (loss)\n\n \n\n\n\n\n\n\n20.2\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n4.4\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n(26.5\n\n\n\n\n\n\n)\n\n\n\n\n\n\n \n\n\n\n\n\n\n(10.2\n\n\n\n\n\n\n)\n\n\n\n\n\n\n \n\n\n\n\n\n\n7.9\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n(61\n\n\n\n\n\n\n%)\n\n\n\n\n\n\n\nAdjusted EBITDA\n\n \n\n\n\n\n\n\n10.4\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n14.7\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n12.7\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n10.6\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n38.8\n\n\n\n\n\n\n \n\n\n\n\...

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