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Jun 30, 2024
Payoneer Q2 2024 Earnings Report
Payoneer achieved record revenue, accelerated volume and ICP growth, and significant profitability.
Key Takeaways
Payoneer reported a strong second quarter with a 16% increase in revenue to $239.5 million and a net income of $32.4 million. The company saw a 22% increase in volume and a 10% increase in active ICPs. Payoneer also announced the acquisition of Skuad to expand its global workforce management services.
Revenue increased by 16% year-over-year to $239.5 million.
Volume grew by 22% year-over-year to $18.7 billion.
Active ICPs increased by 10% year-over-year.
Acquired Skuad to expand global workforce management services.
Payoneer
Payoneer
Forward Guidance
Payoneer raised its 2024 guidance, expecting revenue between $920 million and $930 million and adjusted EBITDA between $225 million and $235 million.
Positive Outlook
- Driving accelerating growth across entire SMB customer business
- Delivered a second consecutive quarter of 21% growth in revenue excluding interest income
- Innovating product offerings
- Accelerating the evolution of our financial stack with acquisition of Skuad
- Strengthening our position as the dedicated partner of choice for SMBs with global, cross-border operations