Slide 1: Paysafe Fourth Quarter and Full Year 2025 Earnings Presentation
Paysafe Fourth Quarter and Full Year 2025 Earnings Presentation March 3, 2026
Slide 2: Forward-looking statements and non-GAAP financial measures
Forward -looking statements and non -GAAP financial measures Forward - Looking Statements This presentation and today’s webcast include “forward -looking statements” within the meaning of U.S. federal securities laws. T hese forward -looking statements are provided for illustrative purposes only and
Slide 3: Key messages
Key messages 3 rd consecutive year of organic revenue growth, now with a more durable, strategic portfolio Renewed focus on innovation, achieving double -digits on Paysafe’s vitality index in 2025 Significantly upgraded talent, while reducing senior management by >30% (2025 vs 2022) Platform now reb
Slide 4: 2025 financial highlights
2025 financial highlights Volume Revenue $167bn $1,701m • Revenue growth of 6%, excluding the business disposal +10% YoY flat YoY; +5% organic • Mid to high single -digit growth across North America and Europe; LatAm exits 2025 with double -digit growth Adj. EBITDA Adj. EPS • uFCF $298m, nearly flat
Slide 5: Summary of 2025 revenue drivers
Summary of 2025 revenue drivers 2024 to 2025 full year revenue walk (YoY, $m) Summary +6% $1,705 10% $1,701 • Revenue growth ~1% less than original guidance (at midpoint) $1,600 8% • Growth categories largely in line with expectations despite mix challenges • New sales and NPI accelerated in H2 (12
Slide 6: Balanced regional revenue growth
Balanced regional revenue growth 1 Full year 2025 regional revenue growth US & Canada 53% of Revenue • Robust e - comm +5% growth (iGaming) FY25 growth • Soft SMB growth Europe 36% of Revenue • eCash growth +12% RoW 4% of Revenue +7% cc • Classic wallet growth FY25 growth • Decline in classic (6%) w
Slide 7: Achievements in 2025 position us for stronger execution in 2026
Achievements in 2025 position us for stronger execution in 2026 Key achievements Progress Product innovation Execution and timing • National launch of a local consumer wallet • Monetization of partnerships (PagoEfectivo Wallet) • Sales onboarding in targeted e -comm verticals • Growth from new produ
Slide 8: 2025 Merchant sales execution
2025 Merchant sales execution Enterprise SMB Full Year 2025 vs 2024 Full Year 2025 vs 2024 +38% +10% +27% e-comm revenue +6% +1% Enterprise deal Deals with ACV New MID growth SMB revenue growth count growth >$0.5m growth (total billable MIDs -3%) Enterprise sales momentum SMB puts and takes • New fu
Slide 9: Consumer snapshot
Consumer snapshot Digital Wallet Segment Classic Wallets Revenue mix • Classic wallets (Skrill) remains a high value asset +4% Gaming Financial 26% 10% • 3-month actives >900K for last 5 quarters; up 12% vs. 2022 (normalized for war -region) 2025 organic Other revenue growth 64% • Improving user exp
Slide 10: Our progression towards sustainable innovation
Our progression towards sustainable innovation Our new product vitality index Why (new products as a % of total revenue) Double -digit >20% ❖ Momentum revenue growth 16% ❖ Sustainability 10% ❖ Engagement 2% ❖ Adaptability 2023 2024 2025 Mid-term goal Revenue from products launched in the last three
Slide 11: Introducing PaysafeWallet
Introducing PaysafeWallet Successful rollout PaysafeWallet is our full -service consumer solution, including a personal bank account and debit card, allowing customers to send, receive, spend, and withdraw money. • Live in 18 countries • Annual revenue $30m in 2025 • Total sign -ups 0.5m • Evolved t
Slide 12: Our 2026 priorities
Our 2026 priorities Company - wide Consumer E- Comm Merchant SMB Merchant Vitality index progression E-commerce revenue Return SMB to growth; Grow active users towards 20% target growth in the teens increase billable MIDs 12 12
Slide 13: Methodical modernization with deliberate redeployment to growth
Methodical modernization with deliberate redeployment to growth AI adoption played a key supporting role as we transformed over the last 3 years, enabling acceleration across all aspects of the company Technology Operations Marketing • Generated 30+% of all code via • Shifted >5m consumer contacts t
Slide 14: AI remains foundational to Paysafe as we scale, innovate and expand our addressable market
AI remains foundational to Paysafe as we scale, innovate and expand our addressable market AI Products Agentic Commerce AI Automation • Launched and commercialized a fully • Aligning with agentic commerce protocol • Accelerated operations optimization brandable and configurable modern Wallet and net
Slide 15: 4Q and FY 2025 Financial Results
4Q and FY 2025 Financial Results
Slide 16: Q4 2025 financial highlights
Q4 2025 financial highlights Contribution from disposed business (see appendix) Volume ($bn) Revenue ($m) Adj. EBITDA 1 ($m) uFCF 1 ($m) Adj. Net Income 1 ($m) +10% +4% (1%) +46% (14%) organic +4% 1 $43.9 $40.0 $420.1 $438.4 $103.3 $102.1 $103.0 $70.5 $29.6 $25.5 68% 101% 1.0% 1.0 % 24.6 % 23.3% con
Slide 17: 2025 full year financial highlights
2025 full year financial highlights Contribution from disposed business (see appendix) Volume ($bn) Revenue ($m) Adj. EBITDA 1 ($m) uFCF 1 ($m) Adj. Net Income 1 ($m) +10% flat (5%) (1%) (14%) organic +5% 1 $41m headwind from business disposal $166.8 $151.7 $1,704.8 $1,701.4 $452.1 $428.8 $299.6 $29
Slide 18: Merchant Solutions
Merchant Solutions Contribution from disposed business (see appendix) 2025 4Q25 Volume ($bn) Revenue ($m) Adj. EBITDA ($m) Volume ($bn) Revenue ($m) Adj. EBITDA ($m) +9% (6%) (24%) +8% (3%) (11%) organic +5% organic +2% $41m headwind from business disposal $142.0 $129.9 $957.6 $37.1 $904.7 $34.4 $19
Slide 19: Digital Wallets
Digital Wallets 2025 4Q25 Volume ($bn) Revenue ($m) Adj. EBITDA ($m) Volume ($bn) Revenue ($m) Adj. EBITDA ($m) +13% +6% +4% +18% +13% +4% organic +4% +9% cc +10% cc +6% organic $26.4 $23.3 $814.7 $7.1 $765.5 $6.0 $220.3 $339.0 $351.7 $194.4 $89.2 $93.1 3.3% 3.1% 44.3% 43.2% 3.2% 3.1% 45.9% 42.3% ta
Slide 20: Balance sheet summary
Balance sheet summary Debt and net leverage ($m, 12/31/25) Total debt (1) $2,615 • Total debt increased $252m compared to 2024 year -end, Cash and cash equivalents 250 including an FX impact of $144m Net debt (1) 2,365 • $64m of RCF repaid in January 2026 LTM Adj. EBITDA 429 Net leverage ratio (2) 5
Slide 21: 2026 Guidance
2026 Guidance 2026 Full Year Guidance Revenue - Revenue and Adj. EBITDA growth of $1,790m to $1,830m approximately 5% to 8% - Adj. EBITDA margin roughly flat - Double -digit Adj. EPS growth - See appendix for additional assumptions Adj. EBITDA $449m to $464m Adj. EPS $2.12 to $2.32 Note: Adj. EBITDA
Slide 22: Entering 2026 with a stronger financial position
Entering 2026 with a stronger financial position Track record of consistent A more durable revenue base with Divestiture lapped – less noise in organic revenue growth significantly improved risk profile YoY comparisons 2026: targeting 5% to 8% revenue Focused on reducing leverage to Strong cash conv
Slide 23: Paysafe
Paysafe >
Slide 24: Appendix
Appendix
Slide 25: 2026 other assumptions
2026 other assumptions $Millions supplemental information for Adj. EPS Interest expense, net $132 - $134 Non-GAAP D&A excludes amortization of acquired $146 - $148 D&A intangibles Other expense $5 - $7 Other operating expense mainly relates to derivative financial instruments and certain banking fee
Slide 26: Summary of segment results
Summary of segment results 2024 2025 Q1 Q2 Q3 Q4 FY2024 Q1 Q2 Q3 Q4 FY2025 Volume ($m) Merchant Solutions $ 30,787 $ 32,719 $ 32,033 $ 34,360 $ 129,899 $ 34,275 $ 35,651 $ 34,935 $ 37,117 $ 141,978 Digital Wallets 5,675 5,717 5,906 6,029 23,327 5,946 6,581 6,685 7,138 26,350 Intersegment (340) (376)
Slide 27: Summary of direct marketing (the disposed business)
Summary of direct marketing (the disposed business) Direct Marketing in $M 1Q23 2Q23 3Q23 4Q23 2023 1Q24 2Q24 3Q24 4Q24 2024 1Q25 Volume 938 983 1,013 1,072 4,006 1,150 1,251 1,075 963 4,439 642 Revenue 26.4 27.2 24.8 23.6 102.1 30.7 36.7 24.1 12.9 104.4 5.2 Gross Profit, excl. D&A 17.8 17.6 15.8 13
Slide 28: FX and interest rate sensitivity on revenue and Adj. EBITDA
FX and interest rate sensitivity on revenue and Adj. EBITDA 1% EUR weakening vs. USD: FX sensitivity • Annualized revenue ($6m) to ($8m) • Annualized Adj. EBITDA ($1.5m) to ($2.5m) Currency fluctuation associated with translating our functional currency financial statements into USD, with the larges
Slide 29: Statement regarding non-GAAP financial measures
Statement regarding non - GAAP financial measures This presentation also contains non - GAAP financial information. Paysafe management believes the presentation of these non - GAAP f inancial measures, when considered together with the Company’s results presented in accordance with GAAP, provide use
Slide 30: Organic growth 2023 – 2025
Organic growth 2023 – 2025 2023 Organic Growth 2024 Organic Growth 2025 Organic Growth Year ended December 31 Year ended December 31 Year ended December 31 (#039;000s) 2022 2023 (#039;000s) 2023 2024 (#039;000s) 2024 2025 Revenue 1,496,137 1,601,138 Revenue 1,601,138 1,704,835 Revenue 1,704,835 1,701,388 Cur
Slide 31: Organic growth by segment
Organic growth by segment Merchant Solutions Digital Wallets Three months ended Twelve Months Ended Three months ended Twelve Months Ended December 31 December 31 December 31 December 31 (#039;000s) 2024 2025 2024 2025 (#039;000s) 2024 2025 2024 2025 Revenue 230,105 222,702 957,623 904,668 Revenue 194,445
Slide 32: Reconciliation of GAAP Gross Profit to Gross Profit (excl. D&A)
Reconciliation of GAAP Gross Profit to Gross Profit (excl. D&A) Three Months Ended Year Ended December 31, December 31, ($ in thousands) 2025 2024 2025 2024 Revenue $ 438,355 $ 420,070 $ 1,701,388 $ 1,704,835 Cost of services (excluding depreciation and amortization) 193,791 183,465 741,197 715,762
Slide 33: Supplemental: Adj. EBITDA to Adj. net income walk
Supplemental: Adj. EBITDA to Adj. net income walk Three Months Ended Year Ended December 31, December 31, ($ in thousands) 2025 2024 2025 2024 Adjusted EBITDA $ 102,081 $ 103,345 $ 428,848 $ 452,054 (1) Depreciation and amortization 36,589 32,896 142,460 139,073 Other income (2) (459) (1,447) (4,001
Slide 34: Reconciliation of GAAP net income (loss) to Adj. EBITDA
Reconciliation of GAAP net income (loss) to Adj. EBITDA Three Months Ended Year Ended December 31, December 31, ($ in thousands) 2025 2024 2025 2024 Net (loss) / income $ (25,228) $ 33,511 $ (182,507) $ 22,160 Income tax (benefit) / expense (7,844) (17,694) 110,446 (8,136) Interest expense, net 34,0
Slide 35: Reconciliation of GAAP net income (loss) to Adj. net income
Reconciliation of GAAP net income (loss) to Adj. net income Three Months Ended December 31, Year Ended December 31, 2025 2024 2025 2024 ($ in thousands) Net (loss) / income $ (25,228) $ 33,511 $ (182,507) $ 22,160 (1) Other non operating expense / (income), net 1,523 (18,018) 11,564 (12,594) Impairm
Slide 36: Net income (loss) per share: Adjusted and GAAP
Net income (loss) per share: Adjusted and GAAP Three Months Ended Year Ended December 31, December 31, Non-GAAP 2025 2024 2025 2024 Numerator ($ in thousands) Adjusted net income - basic $ 25,515 $ 29,563 $ 114,318 $ 132,520 Adjusted net income - diluted $ 25,515 $ 29,563 $ 114,318 $ 132,520 Denomin
Slide 37: Reconciliation of Operating Cash Flow to Unlevered Free Cash Flow
Reconciliation of Operating Cash Flow to Unlevered Free Cash Flow Three Months Ended Year Ended December 31, December 31, ($ in thousands) 2025 2024 2025 2024 Net cash inflows from operating activities $ 74,911 $ 58,895 $ 236,155 $ 253,804 Capital expenditure (25,166) (31,875) (106,766) (111,718) Ca
Slide 38: Thank You
Thank You