Slide 1: First Quarter 2025 Earnings
First Quarter 2025 Earnings May 13, 2025
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. These forward-looking statements are provided for illustrative purposes only and are no
Slide 3: Q1 2025 financial summary
Q1 2025 financial summary Revenue Adj. EBITDA Adj. EPS Net Leverage $401m $95m $0.34 4.9x (4%) YoY; +5% organic1 23.7% margin versus $0.57 1Q24 versus 4.7x Dec-24 2025 priorities Leverage our network Product innovation Sales efficiency New partnerships and drive scale Note: Organic growth, Adj. EBIT
Slide 4: Enabling experiences for merchants and consumers through our unified Wallet Platform
Enabling experiences for merchants and consumers through our unified Wallet Platform Core wallet Payment Value added capabilities capabilities services Wallet User and merchant wallets, eKYC, secure authentication Pay-ins and payouts - bank, card, LPMs, cash and P2P e.g., Prepaid cards, loyalty & re
Slide 5: Peru's favorite way to pay - now with a wallet
Peru’s favorite way to pay - now with a wallet Instant merchant Cash-to-digital 1-tap CIP payouts to wallet (easy top-ups) payments Seamless merchant Safely deposit Send & receive payments & store funds money (P2P) Product Sales New Leverage our network innovation efficiency partnerships and drive s
Slide 6: Consumer profile spotlight: Casual Gambler in Peru
Consumer profile spotlight Casual Gambler in Peru 18 to 45 year-old male Demographics and behavioral traits • Enjoys online gambling, video gaming, and esports • Predominately urban or semi-urban • Smart phone user with basic digital literacy • User of PagoEfectivo vouchers or similar cash solutions
Slide 7: Consumer profile spotlight: Everyday user in Peru
Consumer profile spotlight Everyday user in Peru 25 to 55 year-old Demographics and behavioral traits • Male or female • Alternative banking or cash preferred user • Often supporting family across rural/urban divide • Receives cross-border remittance Payments needs and values • Seeks cash to digital
Slide 8: Merchant profile spotlight: Wallet Platform
Merchant profile spotlight Wallet Platform • Needs a digital ecosystem with a prepaid card solution Cash intensive • Solutions embedded into the merchant’s mobile app verticals and tech platform • Regulatory compliance Gaming • Needs to enable payouts to influencers and creators commerce • Needs a p
Slide 9: Updates on enterprise and SMB sales initiatives
Updates on enterprise and SMB sales initiatives Enterprise SMB Q1 highlights (YoY) Status and focus areas to improve 102 • Revenue flat YoY (excl. business disposal); +2% normalized for ✓ 31% revenue growth in e-commerce Multi, 16 Leap Year ✓ Improving productivity with >20% Processing, 41 • Mix hea
Slide 10: Rolling out new partnerships to bolster sales and product distribution
Rolling out new partnerships to bolster sales and product distribution Enterprise SMB Consumer and e-commerce Launched the integration of Clover Enhanced our ISV offering with Strengthened our PaysafeCard Capital, providing SMBs with improved PayFac-as-a-Service solutions network in Ireland access t
Slide 11: 1Q25 Financial Results
1Q25 Financial Results
Slide 12: Q1 financial highlights
Q1 financial highlights Contribution from disposed business Volume ($bn) Revenue ($m) Adj. EBITDA1 ($m) uFCF1 ($m) Adj. Net Income1 ($m) (4%) (15%) +10% organic +5%1 cc (14%)2 (17%) (41%) ~$17m inorganic headwinds $417.7 $39.9 $401.0 $36.1 $35.3 $111.9 $69.2 $95.2 $57.3 $20.9 62% 60% 1.2% 1.0% 26.8%
Slide 13: Summary of Q1 revenue drivers
Summary of Q1 revenue drivers 1Q24 to 1Q25 revenue walk ($m) • Reported (4%) and organic +5% • Strong growth from existing $418 $401 customers offsets attrition $387 +2% • New customers and NPI (12%) +13% expected to accelerate in 2H25 incl. interest, FX, and $5m direct marketing 1Q24 Disposed 1Q24
Slide 14: Merchant Solutions
Merchant Solutions Contribution from disposed business Volume ($bn) Revenue ($m) Adj. EBITDA ($m) • 6% organic growth led by ongoing reported (6%) strength e-commerce +11% (40%) organic +6% • March Madness processing ~$12m impact from volumes up ~80% YoY business disposal $231.4 $217.8 • Adj. EBITDA
Slide 15: Digital Wallets
Digital Wallets Volume ($bn) Revenue ($m) Adj. EBITDA ($m) • 3% organic revenue growth reported (2%) (1%) +5% organic +3% cc +2%1 • 3-month active users stable at 7.3m ~$6m impact from interest and FX • Continued growth in TPA +9% $5.9 $190.5 $187.6 YoY and ARPU +1% YoY $5.7 $83.3 $82.5 3.4% 3.2% 43
Slide 16: Continued focus on reducing leverage
Continued focus on reducing leverage Liquidity position ($m) 3/31/25 Committed RCF(1) $305 Amounts drawn (92) Cash and cash equivalents 234 • Net leverage of 4.9x (vs. 4.7x at 2024 year-end) Total $447 • $23m principal debt prepayment during Q1 • 613k shares repurchased for $10m during Q1 at a weigh
Slide 17: Affirming 2025 guidance
Affirming 2025 guidance 2025 Full Year Guidance see slides 18 and 20 for additional Revenue (reported) $1,710m to $1,734m assumptions Year-over-year growth (reported) 0% to 2% Organic growth 6.5% to 8.0% Adj. EBITDA $463m to $478m Adj. EBITDA margin % 27.1% to 27.6% Adj. EPS $2.21 to $2.51 Note: Org
Slide 18: Additional detail on revenue growth and margin cadence for the balance of the year
Additional detail on revenue growth and margin cadence for the balance of the year 1H 2025 2H 2025 • Reported revenue down 3.5% to 4% • Reported revenue growth MSD, with Q4 being the strongest quarter • Organic growth 4% to 6% • Organic growth 8% to 10%, with Q4 being the • Gross margins softer in 1
Slide 19: Appendix
Appendix
Slide 20: 2025 other assumptions
2025 other assumptions In Millions supplemental information for Adj. EPS Interest expense, net $129 to $131 D&A $138 to $140 Non-GAAP D&A excludes amortization of acquired intangibles Non-GAAP other operating expense excludes the Other operating expense $1 to $2 impact of other non-operating income
Slide 21: Summary of segment results
Summary of segment results 2024 2025 Q1 Q2 Q3 Q4 FY2024 Q1 Volume ($m) Merchant Solutions $ 30,787 $ 32,719 $ 32,033 $ 34,360 $ 129,899 $ 34,275 Digital Wallets 5,675 5,717 5,906 6,029 23,327 5,946 Intersegment (340) (376) (402) (363) (1,481) (370) Total $ 36,122 $ 38,060 $ 37,537 $ 40,026 $ 151,745
Slide 22: Summary of direct marketing (disposed business)
Summary of direct marketing (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 13.7 6
Slide 23: Merchant KPIs Q1 2025
Merchant KPIs Q1 2025 excluding disposed business (direct marketing) Enterprise NRR Billable MIDs 100% -4% YoY Rev/New Merchant Rev/Merchant +Double-digits YoY +Double-digits YoY 23
Slide 24: Digital Wallets KPIs
Digital Wallets KPIs Average transactions per active user (TPA) TPA based on 3-month active users2 +9% 14 14 14 14 13 7.3m 3-month active users 1Q’24 2Q’24 3Q’24 4Q’24 1Q’25 $16 Average revenue per user (ARPU)1 ARPU based on 3-month active users2 consumer acquisition cost (CAC)3 +1% $26 $27 $27 $27
Slide 25: Statement regarding non-GAAP financial measures
Statement regarding non-GAAP financial measures This presentation also contains non-GAAP financial information. Paysafe management believes the presentation of these non-GAAP financial measures, when considered together with the Company’s results presented in accordance with GAAP, provide users with
Slide 26: Paysafe organic growth
Paysafe organic growth Three Months E nded March 31, ( #039;000s) 2024 2025 Revenue 417, 738 401, 000 Currency adjustment - 5,430 1 Interest revenue adjustment (9,475) (5,647) Disposal adjustments (30,665) (5,213) 2 O rganic revenue 377, 59 9 39 5, 570 Reported revenue growth (4%) 3 Organic revenue gro
Slide 27: Organic growth by segment
Organic growth by segment Merchant solutions segment Digital wallets segment Three Months E nded Ma rch 31, Three Months E nded Ma rch 31, ( #039;000s) 2024 2025 ( #039;000s) 2024 2025 Revenue 231, 39 8 217, 786 Revenue 19 0, 457 187, 56 7 Currency adjustment - 148 Currency adjustment - 5,282 1 1 Interest
Slide 28: Reconciliation of GAAP Gross Profit to Gross Profit (excl. D&A)
Reconciliation of GAAP Gross Profit to Gross Profit (excl. D&A) Three Months E nded March 31, ($ in thousands) 2025 2024 Revenue $ 401, 000 $ 417, 738 Cost of services (excluding depreciation and amortization) 174,181 170,373 Depreciation and amortization 68,269 68,310 Gross Profit (1 ) $ 158, 550 $
Slide 29: Reconciliation of GAAP net income (loss) to Adj. EBITDA
Reconciliation of GAAP net income (loss) to Adj. EBITDA Three Months Ended March 31, ($ in thousands) 2025 2024 Net (loss) / income $ (19,472) $ 3,056 Income tax (benefit) / expense (3,059) 7,299 Interest expense, net 33,673 34,965 Depreciation and amortization 68,269 68,310 Share-based compensation
Slide 30: Supplemental: Adj. EBITDA to Adj. net income walk
Supplemental: Adj. EBITDA to Adj. net income walk Three Months E nded March 31, ($ in thousands) 2025 2024 Adjusted E BITDA $ 9 5, 170 $ 111, 9 16 Depreciation and amortization (1) 35,001 34,707 Other operating (income) (2) (1,387) (2,581) Interest expense, net 33,673 34,965 Adjusted income tax 6,97
Slide 31: Reconciliation of GAAP net income (loss) to Adj. net income
Reconciliation of GAAP net income (loss) to Adj. net income Three Months Ended March 31, ($ in thousands) 2025 2024 Net (loss) / income $ (19,472) $ 3,056 (1) Other non operating expense / (income), net 564 (9,774) Impairment expense on goodwill and other assets 1,282 653 (2) Accelerated amortizatio
Slide 32: Net income (loss) per share: Adjusted and GAAP
Net income (loss) per share: Adjusted and GAAP Three Months Ended March 31, Non-GAAP 2025 2024 Numerator ($ in thousands) Adjusted net income - basic $ 20,913 $ 35,306 Adjusted net income - diluted $ 20,913 $ 35,306 Denominator (in millions) Weighted average shares – basic 59.8 61.6 (1) Adjusted wei
Slide 33: Reconciliation of Operating Cash Flow to Unlevered Free Cash Flow
Reconciliation of Operating Cash Flow to Unlevered Free Cash Flow Three Months Ended March 31, ($ in thousands) 2025 2024 Net cash inflows from operating activities $ 52,479 $ 58,835 Capital expenditure (27,221) (24,425) Cash paid for interest 25,906 31,331 Payments relating to Restructuring and oth
Slide 34: Thank You
Thank You 34