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Dec 31, 2025
Payoneer Q4 2025 Earnings Report
Payoneer reported fourth quarter 2025 results with revenue growth driven by B2B momentum, expanding adjusted EBITDA and double-digit volume growth.
Key Takeaways
In Q4 2025, Payoneer delivered 5% revenue growth and 9% revenue ex. interest growth year over year, supported by 10% volume growth and strong B2B performance. Net income and adjusted EBITDA both increased compared to the prior year period.
Total revenue increased to 274693000, up 5% year over year.
Volume grew 10% to 24800000000.
Adjusted EBITDA rose to 68539000 from 63271000 in the prior year quarter.
B2B SMB revenue increased 17% year over year.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For 2026, Payoneer expects revenue of 1090000000 to 1130000000 and adjusted EBITDA of 275000000 to 285000000, with focus on high-margin growth and accelerating revenue ex. interest growth exiting the year.
Positive Outlook
- Revenue ex. interest expected between 900000000 and 940000000.
- Adjusted EBITDA ex. interest expected between 85000000 and 95000000.
- Acceleration to mid-teens revenue ex. interest growth exiting 2026.
- Continued focus on high-margin B2B and upmarket strategy.
- Ongoing share repurchases supporting shareholder returns.
Challenges Ahead
- 300 basis point headwind to revenue ex. interest from customer portfolio optimization.
- Lower interest income expected due to rate environment.
- Active ICPs declined 4% year over year.
- Take rate declined year over year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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