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Investing.com -- Payoneer Global Inc. shares surged 7.7% premarket on Wednesday after the global financial technology company reported better-than-expected second-quarter revenue and reinstated its full-year outlook, demonstrating strong momentum in its cross-border payment business.
The company posted revenue of $260.6 million for the second quarter, exceeding analyst estimates of $253 million and representing a 9% increase YoY. However, adjusted earnings per share came in at $0.05, missing the analyst consensus of $0.07. Revenue excluding interest income reached a record $202.3 million, jumping 16% YoY, driven by 11% volume growth and take rate expansion with SMB customers.
Payoneer reinstated its fiscal year 2025 guidance, projecting revenue between $1.04 billion and $1.06 billion, above the consensus estimate of $1.01 billion. The company also announced a $300 million share repurchase authorization through December 2027.
"Payoneer delivered another strong quarter, with record revenue excluding interest income up 16% year-over-year and robust growth across our SMB customers," said John Caplan, Chief Executive Officer. "Our global customers continue to adapt and innovate in a rapidly evolving global trade environment and they’re choosing Payoneer as their global financial partner."
The company reported transaction volume of $20.7 billion, up 11% from the same period last year. SMB customer revenue grew 18% YoY to $183 million, with particularly strong performance in B2B SMBs (up 37%) and Checkout services (up 86%).
Customer funds reached $7.0 billion as of June 30, representing a 17% increase YoY. The company also accelerated its share repurchases to $33 million at an average price of $6.80 per share during the quarter.
Adjusted EBITDA for the quarter was $66.4 million, down 9% YoY, while the company projects full-year adjusted EBITDA between $260 million and $275 million.