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Paysafe Limited (NYSE:PSFE) shares are trading lower on Thursday.
The company reported fourth-quarter adjusted earnings per share of 66 cents, beating the street view of 16 cents.
Quarterly revenue of $414.54 million beat the analyst consensus of $413.575 million. Sales increased 8% year over year.
Revenue from the Merchant Solutions segment increased 9%, led by double-digit growth from e-commerce solutions.
Revenue from the Digital Wallets segment increased 8% on a reported basis, as a decline from eCash solutions was more than offset by double-digit growth from classic digital wallets, partly reflecting the company’s initiatives to increase consumer engagement and merchant checkout conversion rates.
Total payment volume in the quarter under review was $35.8 billion, increased by 8%.
Fourth quarter adjusted EBITDA is $121.7 million, increasing 13% year over year.
Adjusted net income for the fourth quarter increased 23% to $40.9 million, compared to $33.1 million in the prior year.
Fourth quarter operating cash flow was $61.6 million, compared to $64.1 million in the prior year period.
As of December 31, 2023, total cash and equivalents were $202.3 million, total debt was $2.5 billion, and net debt was $2.3 billion.
Outlook: Paysafe sees FY24 revenue of $1.688 billion-$1.712 billion versus the $1.7 billion estimate.
The company expects adjusted EBITDA of $473 million-$488 million.
Price Action: PSFE shares are trading lower by 15.5% to $12.02 on the last check Thursday.
Posted In: PSFE
