Payoneer Q3 revenue beats estimates
Overview
Payoneer Q3 revenue of $270.9 mln beats analyst expectations
Revenue excluding interest income grew 15% yr/yr, driven by 9% volume growth
Net income for Q3 fell 66% yr/yr to $14.1 mln
Company repurchased $45 mln shares, totaling $94 mln year-to-date
Outlook
Payoneer raises 2025 revenue guidance to $1,050 mln - $1,070 mln
Company increases 2025 adjusted EBITDA guidance to $270 mln - $275 mln
Payoneer expects transaction costs to be ~16.0% of revenue in 2025
Result Drivers
REVENUE GROWTH - Revenue excluding interest income grew 15% yr/yr, driven by 9% volume growth and significant take rate expansion with SMB customers
ARPU INCREASE - ARPU excluding interest income grew 22% yr/yr, driven by larger customers and strategic pricing initiatives
CARD USAGE - Record $1.6 bln of spend on Payoneer cards, up 19% yr/yr, driven by higher usage per customer
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $270.90 mln | $263.37 mln (10 Analysts) |
Q3 EPS | $0.04 | ||
Q3 Net Income | $14.10 mln | ||
Q3 Operating Expenses | $234.50 mln | ||
Q3 Operating income | $36.34 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the business support services peer group is "buy"
Wall Street's median 12-month price target for Payoneer Global Inc is $9.23, about 37.3% above its November 4 closing price of $5.79
The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 27 three months ago
Press Release:
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.