Revenue Growth and Performance - Revenue excluding interest income grew 15% year-over-year to $173.7 million, while total revenue increased 16% to $239.5 million[2] - Revenue increased to $239.52 million in Q2 2024, up 15.9% from $206.73 million in Q2 2023[13] - Greater China region contributed $84.44 million in revenue, representing 35.3% of total revenue in Q2 2024[15] - Revenue recognized at a point in time increased to $170.75 million in Q2 2024, up 20.9% from $141.23 million in Q2 2023[14] - Interest income on customer balances grew to $65.82 million in Q2 2024, up 19.0% from $55.29 million in Q2 2023[14] Profitability and Adjusted EBITDA - Adjusted EBITDA rose 30% year-over-year to $72.8 million, reflecting improved profitability[2] - Adjusted EBITDA rose to $72.78 million in Q2 2024, up 30.1% from $55.97 million in Q2 2023[16] - Operating income increased to $46.31 million in Q2 2024, up 38.7% from $33.39 million in Q2 2023[13] Volume Growth and Customer Metrics - 22% volume growth year-over-year, with B2B volume increasing 40% to $2.5 billion, marketplace volume up 15% to $11.4 billion, and merchant services volume surging 192% to $119 million[5] - Active Ideal Customer Profiles (ICPs) grew 10% year-over-year to 547,000, with larger ICPs (over $10,000/month) increasing 7%[5] - SMB customer take rate increased 1 basis point year-over-year to 111 bps, driven by B2B volume growth[2] - Payoneer card spend grew 33% year-over-year to $1.2 billion, supported by new integrations with accounting platforms like Xero and QuickBooks[5] - Enterprise payouts volume increased 31% year-over-year to $4.7 billion, led by expansion in the travel vertical[5] Acquisitions and Strategic Investments - Payoneer acquired Skuad for $61 million in cash, with potential additional payments of up to $20 million, to expand into global workforce management services[4] Financial Position and Cash Flow - Customer funds increased 9% year-over-year to $6.0 billion as of June 30, 2024[5] - Cash and cash equivalents decreased to $575,730 thousand as of June 30, 2024, from $617,022 thousand as of December 31, 2023[19] - Customer funds decreased to $6,037,105 thousand as of June 30, 2024, from $6,390,526 thousand as of December 31, 2023[19] - Net cash provided by operating activities for the six months ended June 30, 2024, was $80,914 thousand, compared to $59,919 thousand for the same period in 2023[20] - Net cash used in investing activities for the six months ended June 30, 2024, was $665,298 thousand, compared to $63,453 thousand for the same period in 2023[20] - Net cash used in financing activities for the six months ended June 30, 2024, was $443,475 thousand, compared to $315,444 thousand for the same period in 2023[20] Net Income and Earnings - Net income decreased to $32.43 million in Q2 2024, down 28.8% from $45.55 million in Q2 2023[13] - Basic earnings per share decreased to $0.09 in Q2 2024 from $0.12 in Q2 2023[18] - Net income for the six months ended June 30, 2024, was $61,399 thousand, compared to $53,487 thousand for the same period in 2023[20] Expenses and Compensation - Research and development expenses slightly decreased to $27.58 million in Q2 2024 from $27.99 million in Q2 2023[13] - Stock-based compensation expenses decreased to $13.67 million in Q2 2024 from $16.17 million in Q2 2023[17] Assets, Liabilities, and Equity - Total assets decreased to $6,920,312 thousand as of June 30, 2024, from $7,283,119 thousand as of December 31, 2023[19] - Total liabilities decreased to $6,250,933 thousand as of June 30, 2024, from $6,618,846 thousand as of December 31, 2023[19] - Retained earnings (accumulated deficit) improved to $46,203 thousand as of June 30, 2024, from a deficit of $15,196 thousand as of December 31, 2023[19] - Common stock repurchased during the six months ended June 30, 2024, amounted to $98,654 thousand, compared to $17,125 thousand for the same period in 2023[20] Guidance and Future Projections - Payoneer raised 2024 guidance, projecting revenue of $920 million to $930 million and adjusted EBITDA of $225 million to $235 million[6]

Investing in cheap software stocks is a compelling idea due to several key factors. First, the recent performance of technology-related sectors, including information technology and communication services, has been outstanding. This trend underscores the continued investor enthusiasm and confidence in these sectors. Second, software companies are at the forefront of innovation, particularly in artificial intelligence. AI is expected to drive significant growth and efficiencies across various industries. Fin ...

Group 1: Momentum Investing Overview - Momentum investing involves following a stock's recent trend, with the aim of buying high and selling higher, capitalizing on established price movements [1] - The Zacks Momentum Style Score helps investors identify effective metrics for momentum, addressing the challenges in defining momentum [2] Group 2: Payoneer Global Inc. (PAYO) Performance - Payoneer Global Inc. currently has a Momentum Style Score of B and a Zacks Rank of 2 (Buy), indicating strong potential for outperformance [3][4] - Over the past week, PAYO shares increased by 14.96%, while the Zacks Technology Services industry saw a decline of 0.21% [6] - In a longer timeframe, PAYO shares rose by 21.58% monthly, compared to the industry's 1.31% [6] - Over the past quarter, PAYO shares increased by 8.52%, and over the last year, they gained 31.98%, outperforming the S&P 500's respective increases of 5.3% and 28.9% [7] Group 3: Trading Volume and Earnings Outlook - PAYO's average 20-day trading volume is 2,655,776 shares, which serves as a bullish indicator when combined with rising stock prices [8] - Recent earnings estimate revisions for PAYO show positive trends, with three estimates moving higher for the current year, raising the consensus estimate from $0.20 to $0.24 [10] - For the next fiscal year, two estimates have also increased, with no downward revisions noted [10] Group 4: Conclusion - Given the positive performance metrics and earnings outlook, PAYO is positioned as a strong momentum pick for investors seeking short-term opportunities [11]

The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008. The company is expected to earn $0.24 per share for the full year, which represents a change of 0% from the prior-year number. Consensus earnings estimates for the next quarter and full year have moved considerably higher for Payoneer Global, a ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Payoneer Global Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation) Delaware 001-40547 86-1 ...

Financial Data and Key Metrics - Revenue for Q1 2024 was $228 million, up 19% year-over-year, driven by interest income, B2B business momentum, SMB performance, and pricing initiatives [22] - Adjusted EBITDA margin reached a record 29% in Q1, with adjusted EBITDA of $65 million, up from $39 million in the prior year period [44] - Free cash flow conversion is well above 100% year-to-date, with $587 million in cash and cash equivalents at the end of Q1 [26] - The company repurchased $51 million worth of shares in Q1, accelerating its capital return to shareholders [26] Business Line Performance - B2B volume grew 33% in Q1, a significant acceleration from 13% growth in Q4 2023, driven by service-oriented markets in APEC, LATAM, and SEMEA [17][67] - Merchant services volume grew over 200% in Q1, with strong adoption of the checkout product among 10K+ ICPs [67] - SMB revenue grew 21%, with a 4 basis points increase in take rate due to pricing initiatives and cross-selling of financial products [7][22] - Enterprise payout growth was 34%, driven by strong travel volume and new routes [41] Market Performance - The company achieved double-digit growth in all major regions, with over 20% revenue growth in higher take-rate regions [54] - Greater China showed significant strength, with strong growth in B2B and commercial card products [80] - CEMEA and APAC regions saw 41% and 39% year-over-year B2B growth, respectively [88] Strategic Direction and Industry Competition - The company is focused on expanding its financial stack, including cross-border AR and AP solutions, and enhancing product offerings for SMBs [33][35] - New verticals such as agriculture in Ukraine, beauty products in Asia, and marketing services globally contributed tens of millions in incremental B2B volume in Q1 [35] - The company is investing in a sophisticated pricing engine and segment-based pricing strategies to improve monetization [96] Management Commentary on Operating Environment and Future Outlook - Management highlighted the transformative evolution of cross-border trade, driven by technological advancements, demographic shifts, and rising consumer purchasing power [20] - The company raised its full-year revenue guidance by $20 million and adjusted EBITDA guidance by $15 million, reflecting strong Q1 performance and momentum heading into Q2 [71] - Management remains confident in the company's ability to capture opportunities in the $6 trillion global cross-border B2B market [34] Other Important Information - Sales and marketing expenses increased by $2 million (4%) due to higher marketing spend on card incentive programs and partner commissions [24] - R&D expenses increased by $3 million (9%), with a focus on growth initiatives, product enhancements, and improving user experience [25][43] - Transaction costs increased by 25% to $34 million, in line with volume growth and mix shift toward higher take-rate businesses [42] Q&A Session Summary Question: Revenue growth cadence and expectations for the year [49] - The company expects a U-shaped revenue trajectory for 2024, with strong Q1 and Q2 performance, moderating in Q3, and accelerating again in Q4 [50][51] - Q2 revenue growth is expected to be high single digits, with mid-teens normalized growth, driven by strong B2B momentum [50] Question: Performance in Greater China and macro impact [54] - Greater China showed double-digit growth, with strong execution in B2B and commercial card products, benefiting from consumer spending in the West [80] Question: Capital deployment priorities [56] - The company is balancing share buybacks with tuck-in M&A opportunities to extend its financial stack, having repurchased $51 million worth of shares in Q1 [81][82] Question: B2B volume growth expectations for 2024 [87] - The company maintains its expectation of 25% year-over-year B2B volume growth, with potential for outperformance if macroeconomic conditions remain stable [65][88] Question: Drivers of SMB take rate improvement [100] - The SMB take rate increased by 4 basis points, driven by pricing initiatives, cross-selling of financial products, and strong performance in B2B and merchant services [7][100] Question: Updated thoughts on B2B volume growth for 2024 [87] - The company remains confident in its 25% year-over-year B2B volume growth target, with strong momentum in CEMEA and APAC regions [88] Question: Delta between revenue and adjusted EBITDA guidance raises [89] - The company attributed the delta to transaction costs and investments in growth initiatives, with no significant changes in cash OpEx [66]

Financial Performance & Growth - Payoneer's total revenue for 1Q'24 was $228 million, a 19% year-over-year increase[175] - Revenue excluding interest income and onboarding fees from an enterprise client is $163 million in 1Q'24, a 21% year-over-year increase[175] - Customer funds reached $5.9 billion as of March 31, 2024[71, 103] - The company earned $65 million in interest income on customer funds in 1Q'24[5] - Adjusted EBITDA margin for 2023 was 25%[24] Customer Base & Usage - Payoneer has 198 million active customers, including 530,000 active Ideal Customer Profiles (ICPs)[93] - Volume into the Payoneer network reached $66 billion in 2023[38] - Active ICPs increased by 8% year-over-year, reaching 530,000 in 1Q'24[160, 184] - SMBs that sell on marketplaces saw a volume of $11002 million in 1Q'24, a 13% year-over-year increase[183] Strategic Focus - The company is focused on its Ideal Customer Profiles (ICPs)[31] - Payoneer is optimizing operations and capital allocation[18] - The company is driving faster ICP growth in higher take rate regions[11]

Payoneer Global Inc. (PAYO) came out with quarterly earnings of $0.08 per share, beating the Zacks Consensus Estimate of $0.05 per share. This compares to earnings of $0.02 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 60%. A quarter ago, it was expected that this company would post earnings of $0.05 per share when it actually produced earnings of $0.05, delivering no surprise.Over the last four quarters, the company has sur ...

First Quarter 2024 Financial Highlights Exhibit 99.1 1. Active ICPs are defined as customers with a Payoneer Account that have on average over $500 per month in volume and were active over the trailing twelve-month period. Payoneer Reports First Quarter 2024 Financial Results Record quarterly revenue, up 19% year-over-year, driven by strong growth across the entire platform 21% volume growth, including 33% B2B volume growth NEW YORK – May 8, 2024 – Payoneer Global Inc. ("Payoneer" or the "Company") (NASDAQ: ...

NEW YORK--(BUSINESS WIRE)--Payoneer Global Inc. (NASDAQ: PAYO), the financial technology company empowering the world’s small and medium sized businesses to transact, do business, and grow globally, today announced that senior management will participate in a fireside chat at the Wolfe Research FinTech Forum on Wednesday, March 13, 2024 at approximately 1:45PM ET. Investors and interested parties can access the live webcast and replay of the fireside chat by visiting the Company’s investor relations websit ...