Payoneer Global Sees FY24 Revenue $895M-$905M Vs $882.83M Est.; Transaction Costs ~17.5% Of Revenue; Adjusted EBITDA $200M-$210M

Author: Benzinga Newsdesk | May 08, 2024 07:34am

2024 Guidance

"Payoneer's first quarter results reflect strong growth across our entire platform. We delivered 21% growth in revenue excluding interest income and normalizing for the $7.5 million impact of certain non-volume fees earned in the prior year period, a significant acceleration compared to 8% in 2023," said Bea Ordonez, Chief Financial Officer. "We are raising our 2024 guidance to reflect both the robust first quarter performance and our momentum heading into the second quarter. We continue to drive acquisition and improve retention of our most valuable customers while we enhance our financial stack and further penetrate the fast-growing B2B market."

2024 guidance is as follows:

		Revenue	$895 million - $905 million
		Transaction costs	~17.5% of revenue
		Adjusted EBITDA (1)	$200 million to $210 million
(1) Guidance for fiscal year, where adjusted, is provided on a non-GAAP basis, which Payoneer will continue to identify as it reports its future financial results. The Company cannot reconcile its expected adjusted EBITDA to expected net income under "2024 Guidance" without unreasonable effort because certain items that impact net income and other reconciling metrics are out of the Company's control and/or cannot be reasonably predicted at this time, which unavailable information could have a significant impact on the Company's GAAP financial results. Please refer to "Financial Information; Non-GAAP Financial Measures" below for a description of the calculation of adjusted EBITDA.

Posted In: PAYO