Payoneer Reports Second Quarter 2024 Financial Results

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[{"type":"text","content":"\nRaises 2024 guidance\n22% volume growth accelerates for a sixth consecutive quarter, reflecting consistent execution\n40% B2B volume growth driving continued SMB take rate expansion\nExpands into global workforce management services for SMBs with the acquisition of Skuad\n\n\n NEW YORK--(BUSINESS WIRE)--\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 second quarter ended June 30, 2024.\n\n\nSecond Quarter 2024 Financial Highlights\n\n\n\n($ in mm)\n\n2Q 2023\n\n\n\n\n\n\n3Q 2023\n\n\n\n\n\n\n4Q 2023\n\n\n\n\n\n\n1Q 2024\n\n\n\n\n\n\n2Q 2024\n\n\n\n\n\n\n \n\n\n\n\n\n\nYoY\nChange\n\n\n\n\n\n\n\nRevenue ex. interest income\n\n$151.4\n\n\n\n\n\n\n$147.6\n\n\n\n\n\n\n$159.4\n\n\n\n\n\n\n$162.9\n\n\n\n\n\n\n$173.7\n\n\n\n\n\n\n \n\n\n\n\n\n\n15%\n\n\n\n\n\n\n\nInterest income\n\n55.3\n\n\n\n\n\n\n60.4\n\n\n\n\n\n\n64.9\n\n\n\n\n\n\n65.3\n\n\n\n\n\n\n65.8\n\n\n\n\n\n\n \n\n\n\n\n\n\n19%\n\n\n\n\n\n\n\nRevenue\n\n$206.7\n\n\n\n\n\n\n$208.0\n\n\n\n\n\n\n$224.3\n\n\n\n\n\n\n$228.2\n\n\n\n\n\n\n$239.5\n\n\n\n\n\n\n \n\n\n\n\n\n\n16%\n\n\n\n\n\n\n\nTransaction costs as a % of revenue\n\n13.8%\n\n\n\n\n\n\n14.6%\n\n\n\n\n\n\n16.2%\n\n\n\n\n\n\n14.9%\n\n\n\n\n\n\n15.4%\n\n\n\n\n\n\n \n\n\n\n\n\n\n160 bps\n\n\n\n\n\n\n\nNet income\n\n$45.5\n\n\n\n\n\n\n$12.8\n\n\n\n\n\n\n$27.0\n\n\n\n\n\n\n$29.0\n\n\n\n\n\n\n$32.4\n\n\n\n\n\n\n \n\n\n\n\n\n\n-29%\n\n\n\n\n\n\n\nAdjusted EBITDA\n\n56.0\n\n\n\n\n\n\n58.2\n\n\n\n\n\n\n52.2\n\n\n\n\n\n\n65.2\n\n\n\n\n\n\n72.8\n\n\n\n\n\n\n \n\n\n\n\n\n\n30%\n\n\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\nOperational Metrics\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n\nVolume ($bn)\n\n$15.3\n\n\n\n\n\n\n$16.3\n\n\n\n\n\n\n$19.0\n\n\n\n\n\n\n$18.5\n\n\n\n\n\n\n$18.7\n\n\n\n\n\n\n \n\n\n\n\n\n\n22%\n\n\n\n\n\n\n\nActive Ideal Customer Profiles (ICPs) ('000s)1\n\n495\n\n\n\n\n\n\n502\n\n\n\n\n\n\n516\n\n\n\n\n\n\n530\n\n\n\n\n\n\n547\n\n\n\n\n\n\n \n\n\n\n\n\n\n10%\n\n\n\n\n\n\n\nRevenue as a % of volume (\"Take Rate\")\n\n135 bps\n\n\n\n\n\n\n127 bps\n\n\n\n\n\n\n118 bps\n\n\n\n\n...

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