Paymentus Holdings, Inc. ( (PAY) ) has released its Q3 earnings. Here is a breakdown of the information Paymentus Holdings, Inc. presented to its investors.
Paymentus Holdings, Inc. is a prominent provider of cloud-based bill payment technology and solutions, serving over 2,200 billers and financial institutions across North America. The company is known for its omni-channel platform that facilitates secure and flexible electronic bill payments for consumers.
Paymentus recently reported its third quarter 2024 financial results, showcasing significant growth with a 51.9% year-over-year increase in revenue and a 58.2% rise in adjusted EBITDA. The company highlighted its strong performance, emphasizing continued confidence in achieving its growth and strategic objectives.
Key financial metrics from the report include a record revenue of $231.6 million for the quarter, driven by an increase in billers and transactions. The gross profit rose to $60.7 million, and the company recorded a net income of $14.4 million. Notably, Paymentus processed 155.3 million transactions during the quarter, marking a 34.6% increase compared to the previous year.
Looking ahead, Paymentus provided financial guidance for the fourth quarter and full fiscal year 2024, projecting revenues between $829 million and $834 million and an adjusted EBITDA ranging from $89 million to $91 million. The management remains optimistic about sustaining its growth trajectory and meeting strategic goals in the coming periods.
