Payoneer Global Inc. (NASDAQ:PAYO) Q4 2023 Earnings Conference Call February 28, 2024 8:30 AM ET Michelle Wang - Vice President-Investor Relations Bea Ordonez - Chief Financial Officer Will Nance - Goldman Sachs Chris Kennedy - William Blair Good morning. Thank you for standing by. Welcome to PayoneerÂ's Fourth Quarter and Full Year 2023 Earnings Conference Call. At this time, all lines have been placed on mute to prevent any background noise. Following the speakersÂ' remarks, we will open the lines for you ...

Exhibit 99.1 Payoneer Reports Fourth Quarter and Full Year 2023 Financial Results Third consecutive year of 30%+ revenue growth since going public in 2021 Significantly expanded profitability in 2023 NEW YORK – February 28, 2024 – Payoneer Global Inc. ("Payoneer" or the "Company") (NASDAQ: PAYO), the financial technology company empowering the world's small and medium-sized businesses to transact, do business and grow globally, today reported financial results for its fourth quarter and full year ended Dece ...

NEW YORK--(BUSINESS WIRE)--Payoneer (NASDAQ: PAYO), the financial technology company empowering the world’s small and medium-sized businesses (SMBs) to transact, do business and grow globally, will report its Fourth Quarter and Full Year 2023 financial results on Wednesday, February 28, 2024, before the market open. Senior management will also host a conference call and earnings webcast to discuss financial results at 8:30 a.m. Eastern Time the same day. A live webcast and replay of the event will be availa ...

VioletaStoimenovaFounded in 2005, Payoneer Global (NASDAQ:PAYO) is a global payment provider focusing on helping digital SMBs in emerging markets engage in international transactions. PAYO has been underperforming since going public in 2021, with a price return of -51.6%. It reached an all-time high of $10.75 per share the same year. Since then, it has gradually declined to reach $4.8 per share today. I initiate my coverage with a buy rating and a 1-year price target of $6.44, a potential upside of over ...

3Q 2023 Earnings Supplement Nasdaq: PAYO This presentation does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation to purchase any security. You should not construe the contents of this presentation as legal, tax, accounting or investment advice or a recommendation. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Payoneer and its management, as the case may be are inherently uncertain. Factors that may cause ...

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 September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . (212) 600-9272 Registrant's Telephone Number, Including Area Code N/A (Former name or former address, if changed since last report) Payoneer G ...

Certain statements in this presentation may be considered "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or the Company's future financial or operating performance. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "expect," "intend," "will," "plan," "estimate," "anticipate," "believe," "predict," ...

Financial Data and Key Metrics - Q2 revenue increased 40% YoY to $207 million, driven by higher margin products, improved monetization, and growth in key B2B regions [9] - Adjusted EBITDA of $56 million, nearly quadrupled YoY, representing a 27% adjusted EBITDA margin [4] - Q2 take rate was 131 basis points, up 30 basis points YoY and 9 basis points sequentially [14] - Customer funds held by Payoneer increased 8% YoY to $5.5 billion, with $55 million in interest income earned from these balances [16] - Q2 net income was $46 million, compared to $4 million in Q2 2022, with basic and diluted EPS of $0.12 [19] Business Line Performance - B2B payments volume declined 2% YoY, but grew 12% YoY excluding proactive customer terminations made last year [5] - Strong traction in B2B business in service-oriented markets like APAC, SAMEA, and Latin America [5] - Total active ICPs grew 6% YoY, with 13% growth in APAC, SAMEA, and Latin America [6] - Largest ICPs (those with >$10,000 monthly volume) grew 18%, contributing over 50% of total revenues [6] - Originations from first-time users increased 80% in Q2 [11] Market Performance - APAC, SAMEA, and Latin America saw 29% YoY volume growth, with Europe showing stable growth despite Ukraine war impacts [31] - China remains a significant market, with over 50% YoY revenue growth in Q2, driven by customer growth and ARPU increases [121] - New verticals in Europe, such as agricultural exporters, represent $30 billion in potential annual volume [10] Strategic Direction and Industry Competition - Focus on acquiring ICPs, improving ARPU, and expanding product offerings like commercial cards and checkout services [7][48] - Investments in platform transformation, including cloud-based infrastructure and new onboarding functionality [11] - Strategic acquisitions, such as a China-based payment service provider and an Israeli data platform, to enhance underwriting and risk management [61][103] - Emphasis on operating efficiency and cost discipline, with headcount reductions and streamlined operations [21][102] Management Commentary on Operating Environment and Future Outlook - Management expects interest income to remain a meaningful contributor to core revenue in the coming years [15] - Guidance for 2023 adjusted EBITDA raised to $160-$170 million, reflecting a 20% margin [26] - Anticipated 10% core revenue growth in the back half of 2023, driven by B2B acceleration and new verticals [47][162] - Long-term focus on ICP growth, ARPU expansion, and leveraging technology for operational efficiency [87] Other Important Information - Payoneer repurchased $20 million of shares at a weighted average cost of $4.68 per share [20] - The company expects to use 25% of interest income for platform investments and stock repurchases [17] - New product features, such as real-time fund availability and enhanced commercial card functionality, aim to improve customer experience and drive growth [7] Q&A Session Summary Question: What drives the confidence in continued ICP growth in H2 2023? - Answer: Strong product offerings, focused go-to-market efforts, and exceptional partnerships globally enable continued ICP growth [68][69] Question: How are B2B headwinds in North America and Europe expected to evolve? - Answer: Outside of China, strong YoY volume growth is seen, with Ukraine showing resilience despite challenges [70] Question: What is the outlook for interest income and its sustainability? - Answer: Interest income is expected to remain a meaningful driver of revenue, with medium-term interest rates projected at 2%-3% [49][156] Question: What are the expectations for M&A activity? - Answer: The company continues to evaluate M&A opportunities, particularly in product extensions and regional footprint expansion [50] Question: How is Payoneer managing operating efficiency and cost discipline? - Answer: Recent headcount reductions and streamlined operations are driving greater efficiency, with a focus on high-growth areas [21][102]

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 June 30, 2023 OR Registrant's Telephone Number, Including Area Code N/A ☐ 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) Delaware 001-405 ...

Financial Data and Key Metrics Changes - Adjusted EBITDA increased by $28 million year-over-year to $39 million, representing a 20% adjusted EBITDA margin [5] - Q1 volume increased by 8% year-over-year to $15.7 billion, driven by a recovery in travel and mid single-digit growth from large e-commerce marketplaces [14] - Customer funds held by Payoneer increased by $837 million, or 18% year-over-year, to $5.5 billion [15] - Q1 net income was $8 million compared to $20 million in the first quarter of last year, which included a gain of over $30 million from the change in fair value of warrants [17] Business Line Data and Key Metrics Changes - B2B AP/AR volumes increased by 23% year-over-year on an apples-to-apples basis, while overall B2B volumes increased by 2% year-over-year [31] - The penetration of the virtual commercial card increased by over 50% and more than doubled year-over-year [9] - The take rate for Q1 was 122 basis points, up from 94 basis points in the prior year period [39] Market Data and Key Metrics Changes - Payoneer experienced over 25% year-over-year revenue growth in each of its six regions, with over 70% growth in Latin America [5] - Key countries such as Vietnam, Argentina, Mexico, Colombia, and UAE saw over 50% year-over-year growth [5] - The company is focusing on emerging markets, particularly in Latin America, CEMEA, and APAC, which are expected to drive future growth [50][74] Company Strategy and Development Direction - The company aims to deliver strong and sustainable revenue growth, focusing on Ideal Customer Profiles (ICPs) and building a next-generation technology platform [28] - Payoneer is actively evaluating product-driven M&A opportunities to enhance its growth strategy and expand its market presence [10][18] - The company is incorporating AI in its onboarding processes to increase efficiency and reduce customer acquisition costs [7] Management's Comments on Operating Environment and Future Outlook - Management noted that while volume growth is below expectations, there is strong customer acquisition momentum [8] - The company anticipates interest rates will begin to decrease in the latter half of the year, which may impact revenue [20] - Management expressed confidence in meeting updated 2023 financial targets despite macroeconomic headwinds [21] Other Important Information - The company has paused hiring plans across the organization to generate savings in 2023 [61] - Payoneer will host its first Investor Day on September 21, 2023, in New York City [62] Q&A Session Summary Question: What are your thoughts on the ability to grow the ICP base during different macro environments? - Management indicated that they are focused on acquiring and serving customers who meet the ICP criteria, with early momentum observed [46][64] Question: Can you provide insights on ARPU opportunities and pricing strategies? - Management is experimenting with pricing strategies, including account fees, and noted that B2B business monetizes at 50% greater than marketplace payouts [48][99] Question: How do you see the geographic mix evolving with the focus on ICPs? - Management expects to see a shift in geographic mix as they penetrate high-growth markets, particularly in Latin America and APAC [49][70] Question: What is the impact of the recent banking turmoil on customer behavior? - Management reported no significant changes in customer behavior despite the banking turmoil, indicating strong trust in Payoneer [85][101] Question: What types of businesses are being considered for M&A? - Management is evaluating M&A opportunities focused on product extensions, regional footprint expansion, and enhancing existing licensing frameworks [128]