Paysafe Ltd ( (PSFE) ) has released its Q3 earnings. Here is a breakdown of the information Paysafe Ltd presented to its investors.
Paysafe Limited is a leading global payments platform, specializing in payment processing, digital wallet, and online cash solutions, primarily serving the entertainment sectors with a strong presence in over 40 currencies worldwide.
In its third-quarter earnings report for 2024, Paysafe Limited announced a revenue increase of 8%, reaching $427.1 million, alongside a 7% rise in total payment volume. Despite the positive revenue trajectory, the company reported a net loss of $13 million, which increased from the previous year.
Key highlights from the report include an 11% growth in revenue from the Merchant Solutions segment and a 4% increase in the Digital Wallets segment. The adjusted EBITDA saw a modest 1% rise to $117.8 million. The company also welcomed John Crawford as the new CFO, aiming to enhance its financial leadership.
Paysafe’s strategic initiatives appear on track, with significant expansions in its sales team and a promising partnership with Revolut in the UK. The company has successfully reduced its net leverage to 4.7x, reflecting improved debt management.
Looking ahead, Paysafe remains optimistic about sustaining its revenue growth and operational momentum into 2025 and beyond, reaffirming its financial outlook for the full year of 2024. The management continues to focus on strategic priorities and investment in the business.
