Paysafe Q4 Takeaways: Registers 3% Revenue Growth Aided By Higher Payment Volume

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  • Paysafe Limited PSFE reported a fourth-quarter FY22 revenue growth of 3% year-on-year to $383.6 million, beating the consensus of $376.1 million. Total Payment Volume of $33.1 billion increased 5% Y/Y.
  • Segments: Merchant Solutions revenue (renamed from US Acquiring) and now includes the integrated & eCommerce (IES) business, rose 9.6% Y/Y to $208.5 million.
  • Digital Wallets revenue, including the company's digital wallets and eCash businesses, fell 3.6% Y/Y to $177.1 million.
  • Adjusted EBITDA margin contracted by 40 bps to 28% as the Merchant Solutions margin decreased by 270 bps. 
  • Paysafe held $2.1 billion in cash and equivalents, including customer accounts, and generated $91.5 million in free cash flow.
  • Non-GAAP EPS of $0.54 beat the consensus of $0.10.
  • Bruce Lowthers, CEO of Paysafe, commented: "We have recruited high-caliber talent, simplified and re-positioned the business, and re-built our sales organization, which is driving early success in cross-selling and multi-product client wins."
  • Outlook: Paysafe expects Q1 revenue of $375 million - $380 million, versus the consensus of $376.88 million.
  • Paysafe expects FY23 revenue of $1.580 billion – $1.600 billion, versus the consensus of $1.580 billion.
  • Price Action: PSFE shares traded higher by 6.16% at $21.55 in the premarket on the last check Thursday.
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