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Mar 31, 2022
Payoneer Q1 2022 Earnings Report
Payoneer reported strong Q1 2022 results, driven by increased adoption of higher value services and strong customer acquisition.
Key Takeaways
Payoneer Global Inc. reported a 36% increase in revenue to $137.0 million compared to Q1 2021. Net income was $20.2 million, a significant improvement from the net loss of $3.5 million in Q1 2021. The company's performance was driven by increased adoption of higher value services and strong customer acquisition.
Revenue increased by 36% year-over-year to $137.0 million.
Net income reached $20.2 million, compared to a net loss of $3.5 million in the same period last year.
B2B AP/AR volume grew by approximately 58% year-over-year.
Take Rate increased to 94 basis points from 75 basis points in Q1 2021.
Payoneer
Payoneer
Forward Guidance
Payoneer raised its full year 2022 revenue guidance to $550 million - $560 million and adjusted EBITDA guidance to $(10) million to $(20) million.