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Mar 31, 2024
Payoneer Q1 2024 Earnings Report
Payoneer reported record quarterly revenue and strong profitability, driven by growth across all channels and faster growth in higher take rate B2B and Merchant Services businesses.
Key Takeaways
Payoneer delivered record quarterly revenue of $228.2 million, up 19% year-over-year, driven by strong growth across the entire platform. The company grew ICPs by 8% and generated 21% volume growth. Net income increased by 265% year-over-year to $29.0 million.
Record quarterly revenue, up 19% year-over-year.
Volume grew by 21%, including 33% B2B volume growth.
Active ICP growth of 8%, including 13% growth in larger ICPs.
Spend on Payoneer cards increased by 34% year-over-year.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Payoneer is raising its 2024 revenue guidance to $895 million - $905 million and adjusted EBITDA guidance to $200 million to $210 million.
Positive Outlook
- Strong growth across the entire platform
- Faster growth in higher take rate B2B and Merchant Services businesses
- Increased acquisition
- Improved retention of most valuable customers
- Enhancing financial stack and further penetrate the fast-growing B2B market
Challenges Ahead
- Changes in applicable laws or regulations
- Adversely affected by geopolitical events and conflicts
- Changes in the assumptions underlying our financial estimates
- Outcome of any known and/or unknown legal or regulatory proceedings
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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