Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
- Paysafe (NYSE:PSFE) reported a third-quarter FY21 revenue decline of 1% year-on-year to $353.6 million, missing the consensus of $370.6 million. Total Payment Volume of $31.1 billion increased 19% Y/Y.
- Segments: Integrated Processing revenue grew 3.5% Y/Y to $186.9 million, Digital Wallet revenue declined 15.1% Y/Y to $83.7 million, and eCash Solutions revenue increased 10% Y/Y to $90.2 million.
- The adjusted EBITDA margin contracted 10 bps to 30.1%.
- Paysafe held $262.3 million in cash and equivalents and generated $51.6 million in operating cash flow.
- In the third quarter, we reported Adjusted EBITDA in line with our expectations, despite softer than expected revenue, reflecting both market and performance challenges within the digital wallet business, CEO Philip McHugh said.
- Outlook: Paysafe sees Q4 revenue of $355 million – $365 million, below the consensus of $417.7 million.
- The company slashed FY21 revenue from $1.53 billion - $1.55 billion to $1.47 billion - $1.48 billion below the consensus of $1.55 billion.
- Price Action: PSFE shares traded lower by 40.8% at $4.31 in the market session on the last check Thursday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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