Paysafe beats by $0.02, beats on revs; reaffirms FY24 revs guidance
- Reports Q1 (Mar) earnings of $0.57 per share, excluding non-recurring items, $0.02 better than the FactSet Consensus of $0.55; revenues rose 7.7% year/year to $417.74 mln vs the $408.2 mln FactSet Consensus.
- Total Payment Volume of $36.1 billion, increased 7%.
- Co reaffirms guidance for FY24, sees FY24 revs of $1.688-1.712 bln vs. $1.7 bln FactSet Consensus.
Paysafe launches to new 52-week highs after payment platform operator posts upside Q1 results and reaffirms FY24 revenue guidance
- The company's better-than-expected results were mainly driven by its Merchant Solutions segment, which generated revenue growth of 11% to $231.4 mln. PSFE specifically noted that it saw strength from SMBs, driven by its efforts to expand its sales capabilities.
- Revenue in the Digital Wallets segment was up by 5% to $190.5 mln.
- PSFE is also generating higher profits. For Q1, adjusted net income improved by 7% to $35.3 mln, while adjusted EBITDA was up 4% to $111.9 mln.
