Paysafe Reports Fourth Quarter and Full Year 2022 Results; Provides 2023 Outlook
March 09 2023 - 06:55
Paysafe Limited (“Paysafe” or the “Company”) (NYSE: PSFE), a leading payments platform, today announced its financial results for the fourth quarter and full year 2022.
Fourth Quarter 2022 Financial Highlights
(Metrics compared to fourth quarter of 2021)
Total Payment Volume of $33.1 billion*, increased 5%
Revenue of $383.6 million, increased 3%; increased 8% on a constant currency basis
Net loss attributable to the Company of $33.7 million, compared to net income attributable to the Company of $90.3 million
Adjusted net income of $33.1 million, compared to $52.2 million
Adjusted EBITDA of $107.6 million, increased 2%; increased 6% on a constant currency basis
Full Year 2022 Financial Highlights
(Metrics compared to full year 2021)
Total Payment Volume of $130.1 billion*, increased 6%
Revenue of $1,496.1 million, increased 1%; increased 5% on a constant currency basis
Net loss attributable to the Company of $1.9 billion and inclusive of non-cash impairment charges of $1.9 billion in 2022, compared to $111.0 million
Adjusted net income of $137.0 million, compared to adjusted net income of $185.8 million
Adjusted EBITDA of $410.0 million, decreased 8%; decreased 3% on a constant currency basis
Bruce Lowthers, CEO of Paysafe, commented: “We are pleased with our progress and fourth quarter financial results, including 8% year-over-year constant currency revenue growth. When I joined Paysafe, we said our focus would be on returning to growth in the back half of the year and into 2023, and we have done exactly that. 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. Looking ahead, we remain relentlessly focused on client experience, product innovation, and further sales transformation to fully leverage our assets globally and capture meaningful growth opportunities for years to come."
