Paymentus Q4 2022 Earnings Report
Key Takeaways
Paymentus reported a strong fourth quarter and full year 2022. Q4 revenue increased by 22.2% year-over-year, and gross profit increased by 21.9% year-over-year. The company signed Citizens Financial Group to Bill Center and expanded its reach through partnerships with Green Dot and a large real estate software provider.
Revenue was $132.2 million, an increase of 22.2% from the fourth quarter of 2021.
Gross profit was $41.1 million compared to $33.7 million for the fourth quarter of 2021.
Net income was $1.0 million and GAAP earnings per share was $0.01.
Adjusted EBITDA was $10.2 million, representing a 18.9% adjusted EBITDA margin.
Paymentus
Paymentus
Forward Guidance
Paymentus expects revenue for the first quarter of 2023 to be between $136 million and $140 million, or 17% to 20% growth current quarter over prior year quarter. Paymentus expects revenue for the full year 2023 to be between $575 million and $600 million, or 16% to 21% growth year-over-year.
Positive Outlook
- Revenue for Q1 2023 is expected to grow 17% to 20% compared to the prior year quarter, with a range of $136 million to $140 million.
- Contribution profit for Q1 2023 is anticipated to grow 8% to 12% compared to the prior year quarter, with a range of $51 million to $53 million.
- Adjusted EBITDA for Q1 2023 is expected to be between $7 million and $8 million, resulting in an adjusted EBITDA margin of approximately 13% to 15%.
- Revenue for the full year 2023 is expected to grow 16% to 21% year-over-year, with a range of $575 million to $600 million.
- Contribution profit for the full year 2023 is anticipated to grow 11% to 18% year-over-year, with a range of $224 million to $237 million.
Challenges Ahead
- Adjusted EBITDA for the full year 2023 is expected to result in a margin of approximately 14% to 16%, implying a limited expansion from current levels.
- The company does not reconcile its forward-looking guidance for non-GAAP measures because certain financial information is not available and cannot be reasonably estimated.
- Future period non-GAAP guidance includes adjustments for items not indicative of the core operations.
- Such adjustments may be affected by changes in ongoing assumptions, judgements, as well as nonrecurring, unusual or unanticipated charges, expenses or gains/losses or other items that may not directly correlate to the underlying performance of our business operations.
- The exact amount of these adjustments is not currently determinable but may be significant.