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Mar 31, 2023
Payoneer Q1 2023 Earnings Report
Payoneer experienced revenue growth and increased profitability, driven by strategic focus on Ideal Customer Profiles (ICPs) and expansion in key markets.
Key Takeaways
Payoneer reported a 40% year-over-year revenue increase in Q1 2023, reaching $192 million. Net income was $7.9 million, and adjusted EBITDA grew significantly to $38.8 million. The company is focused on acquiring customers who meet their Ideal Customer Profiles (ICPs) and has raised its 2023 guidance.
Revenue increased by 40% year-over-year, reaching $192 million.
Active Ideal Customer Profiles (ICPs) grew by 9% year-over-year.
Net income was $7.9 million, a decrease of 61% year-over-year.
Adjusted EBITDA increased by 273% year-over-year to $38.8 million.
Payoneer
Payoneer
Forward Guidance
Payoneer is raising its full year 2023 guidance, reflecting strong first quarter results and $200 million of interest income revenue for the full year.