Payoneer Inc. ( (PAYO) ) has released its Q3 earnings. Here is a breakdown of the information Payoneer Inc. presented to its investors.
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Payoneer Inc. is a financial technology company that empowers small and medium-sized businesses globally to transact and grow by offering a comprehensive financial stack that simplifies cross-border commerce. In its latest earnings report, Payoneer announced record-breaking quarterly results for Q3 2024, highlighting significant growth in revenue and profitability. The company’s revenue increased by 19% year-over-year to $248.3 million, driven by a 25% growth in transaction volume, including a notable 57% increase in B2B volume. Net income saw a dramatic rise of 224% to $41.6 million, while adjusted EBITDA grew by 19% to $69.3 million, showcasing the company’s improving financial health. Key performance highlights include a 41% increase in spending on Payoneer cards and a positive uptick in active customer profiles by 11%. Looking forward, Payoneer has raised its 2024 guidance, reflecting strong Q3 performance and higher expectations for growth and profitability in the final quarter, signaling confidence in its strategic execution and market positioning.
