Paysafe Limited PSFE reported third-quarter FY23 revenue growth of 8% year-over-year to $396.4 million, missing the consensus of $397.3 million. The revenue was up 5% Y/Y on a constant currency basis.
Adjusted EPS of the online payments company was $0.57, up from $0.48 in 3Q22, beating the consensus of $0.07.
The Q3 total payment volume totaled $35.1 billion, up 8% Y/Y.
Segment revenues: Merchant Solutions +6% Y/Y, led by double-digit growth from e-commerce solutions, and Digital Wallets +12% Y/Y due to double-digit growth from classic digital wallets.
Adjusted EBITDA was $116.1 million (+22% Y/Y), and the margin expanded by 320 bps to 29.3%.
As of September 30, 2023, total cash and equivalents were $226.5 million, and total debt was $2.5 billion.
Bruce Lowthers, CEO of Paysafe, commented: “Paysafe has continued to build momentum through the third quarter, led by double-digit growth from our e-commerce solutions and classic digital wallets.”
FY23 Outlook: Paysafe reiterated its revenue outlook to $1.595 billion – $1.608 billion, versus the consensus of $1.59 billion.
The company reiterated adjusted EBITDA of $454 million – $462 million.
Before the up move today, PSFE stock had lost 26% year-to-date.
Price Action: PSFE shares were trading higher by 20.60% at $12.91 on the last check Tuesday.
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