Workflow
Paysafe (PSFE)
icon
Search documents
Paysafe (PSFE) - 2022 Q3 - Quarterly Report
2022-10-19 21:08
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934 For the month of October 2022 (Commission File No. 001-40302) PAYSAFE LIMITED (Exact name of registrant as specified in its charter) Not Applicable (Translation of registrant's name into English) Paysafe Limited 25 Canada Square 27th Floor London, United Kingdom E14 5LQ (Address of Principal Executive Offices) (Zip Code) Indicate b ...
Paysafe (PSFE) - 2022 Q2 - Earnings Call Transcript
2022-08-10 15:58
Financial Data and Key Metrics Changes - The second quarter revenue was $379 million, with adjusted EBITDA of $103 million, aligning with guidance despite unexpected foreign exchange headwinds [7][28] - Total volume was $33.4 billion, reflecting a 7% sequential increase and a 3% year-over-year increase [29] - Adjusted net income for Q2 was $37.5 million, down from $66.4 million in the prior year, primarily due to increased depreciation and interest expenses [34] Business Line Data and Key Metrics Changes - Digital Commerce segment saw volumes of $111.2 billion, a decline of 5% year-over-year, with revenue down 13% due to FX impacts and soft iGaming activity in Europe [35] - U.S. Acquiring segment reported volumes of $22.1 billion, an 8% year-on-year increase, with revenue increasing 14% to $187.2 million and adjusted EBITDA rising 30% to $53 million [38] Market Data and Key Metrics Changes - The Americas region experienced strong growth, particularly in U.S. Acquiring and regulated iGaming, which grew 18% in the first half of 2022 [18] - European markets continued to show weakness, particularly in iGaming, influenced by regulatory changes and the Russia-Ukraine conflict [30][41] Company Strategy and Development Direction - The company aims to enhance product innovation and improve cross-selling opportunities to better serve merchant and consumer customers [12][21] - A focus on operational efficiency and simplifying the organizational structure is underway to support sales and product innovation [20][23] - The company is committed to returning to growth in 2023, with plans to align product direction and improve client experience [26][46] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the impact of macroeconomic factors on consumer spending, particularly in Europe, and revised guidance to reflect these challenges [10][41] - The company expects revenue for the full year to be between $1.47 billion and $1.49 billion, indicating a flat year-over-year performance [43] Other Important Information - The company reported a GAAP net loss of $631.5 million due to goodwill impairment, which is a non-cash charge [33] - Free cash flow for the 12-month period was $222 million, reflecting a 53% conversion rate [31] Q&A Session Summary Question: Does the new revenue guide assume softening trends in verticals outside of European gaming? - Management indicated that the revenue guide predominantly reflects weakness in European gaming, driven by macroeconomic factors affecting discretionary spending [50] Question: What are the expectations for interest expense and leverage by year-end? - Management expects leverage to end in the 5.5x range, with minimal changes in interest expense due to effective hedging against rate changes [52] Question: What are the key takeaways regarding the business after a few months? - Management expressed confidence in the company's position within the merchant acquiring and issuing platforms, highlighting opportunities for product innovation and sales improvement [55] Question: What is the growth rate in the iGaming segment this quarter? - The iGaming segment saw a 25% volume growth year-on-year, with regulated iGaming close to 70% growth [75] Question: Is the weakness in European gambling due to increased competition or macro factors? - Management clarified that the weakness is primarily macro-driven, with some regulatory impacts, rather than competitive pressures [62]
Paysafe (PSFE) - 2022 Q2 - Earnings Call Presentation
2022-08-10 15:56
Paysafe: Second Quarter 2022 Earnings A U G U S T 1 0 , 2 0 2 2 Forward looking statements and non-GAAP financial measures 2 Forward-Looking Statements This presentation includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance ...
Paysafe (PSFE) - 2022 Q2 - Quarterly Report
2022-08-10 11:01
Exhibit 99.1 PAYSAFE REPORTS SECOND QUARTER 2022 RESULTS UPDATES FULL YEAR OUTLOOK London, UK – August 10, 2022 – Paysafe Limited ("Paysafe" or the "Company") (NYSE: PSFE) (PSFE.WS), a leading specialized payments platform, today announced its financial results for the second quarter of 2022. Second Quarter 2022 Financial Highlights (Metrics compared to second quarter of 2021) Bruce Lowthers, CEO of Paysafe, commented: "Through the first half of the year, Paysafe has delivered financial results in line with ...
Paysafe (PSFE) - 2022 Q1 - Quarterly Report
2022-05-18 21:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934 For the month of May 2022 (Commission File No. 001-40302) PAYSAFE LIMITED (Exact name of registrant as specified in its charter) Not Applicable (Translation of registrant's name into English) Paysafe Limited 25 Canada Square 27th Floor London, United Kingdom E14 5LQ (Address of Principal Executive Offices) (Zip Code) Indicate by ch ...
Paysafe (PSFE) - 2022 Q1 - Earnings Call Transcript
2022-05-11 16:14
Paysafe Limited (NYSE:PSFE) Q1 2022 Earnings Conference Call May 11, 2022 8:30 AM ET Company Participants Kirsten Nielsen - Head, Investor Relations Bruce Lowthers - Chief Executive Officer Izzy Dawood - Chief Financial Officer Conference Call Participants George Mihalos - Cowen Dan Perlin - RBC Capital Markets Jason Kupferberg - Bank of America David Togut - Evercore ISI Scott Wurtzel - Wolfe Research Timothy Chiodo - Credit Suisse Andrew Hummel - WestPark Capital Operator Greetings. Welcome to the Paysafe ...
Paysafe (PSFE) - 2022 Q1 - Earnings Call Presentation
2022-05-11 11:20
Paysafe: First Quarter 2022 Earnings Presentation May 11, 2022 Forward Looking Statements and Non-GAAP Financial Measures Forward-Looking Statements This presentation includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a ...
Paysafe (PSFE) - 2021 Q4 - Annual Report
2022-03-28 19:25
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(B) OR 12(G) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 19 ...
Paysafe (PSFE) - 2021 Q4 - Earnings Call Transcript
2022-03-02 17:00
Financial Data and Key Metrics Changes - Fourth quarter revenue reached $372 million, exceeding the high-end of revised guidance, with adjusted EBITDA of $105.5 million, also above expectations [8][31] - For the full year 2021, total revenue was $1.49 billion, a 4% increase from 2020, and adjusted EBITDA was $444 million, also up 4% [34][36] - Free cash flow for Q4 was $53 million, representing a 50% conversion on adjusted EBITDA, while full year free cash flow was $286 million, or 65% conversion [33][35] Business Line Data and Key Metrics Changes - Digital Commerce segment had volumes of $44 billion and revenues of $837 million, accounting for 56% of total revenue, with adjusted EBITDA margins of 42% [30] - U.S. acquiring segment reported volumes of $78 billion and revenues of $650 million, making up 44% of total revenue, with adjusted EBITDA margins of 26% [30] - Digital wallets experienced a volume decline of 19% year-over-year in Q4, with revenues of $87.9 million, down 9% compared to the prior year [40] Market Data and Key Metrics Changes - North America iGaming saw a 58% volume growth year-on-year, with expansion into new states and partnerships with major operators [20][21] - The U.S. SMB market in acquiring reported a 20% year-on-year revenue growth in Q4, with a 15% growth compared to 2019 [24] - eCash volumes were $1.6 billion in Q4, up 9% year-over-year, with full year revenue of $406 million, a 22% increase [38] Company Strategy and Development Direction - The company is focusing on a digital commerce strategy that integrates card processing, digital wallets, eCash, and real-time banking solutions [10][16] - A significant partnership with Binance was announced, launching a white-label wallet solution to enhance crypto capabilities [18][19] - The company aims to strengthen its digital wallet business by optimizing pricing and improving user experience, with a focus on core product features [12][13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining the 2022 outlook despite headwinds from Europe and a reset of the digital wallet business [11][45] - The company anticipates 2022 to be a transitional year, with expectations for growth in U.S. acquiring and stabilization in digital wallets [15][46] - Management highlighted the importance of adapting to regulatory changes in Europe, particularly in Germany and the Netherlands, while remaining optimistic about growth in North America and Latin America [64] Other Important Information - The company successfully delivered $40 million in cost savings in 2021, exceeding the initial target of $30 million, with plans for an additional $20 million in 2022 [11][25] - A leadership change was announced, with Dan Henson appointed as the new Chairman of the Board [48][49] Q&A Session Summary Question: Can you discuss cash flow conversion dynamics for FY '22? - Management expects free cash flow conversion to remain around 65% for FY '22, driven by growth in the U.S. acquiring business and increased cash taxes [55] Question: What are the competitive dynamics in iGaming? - The company is live in 21 states and offers a comprehensive set of APIs, making it competitive in the iGaming space [57][58] Question: Can you elaborate on the 2022 guidance despite headwinds? - Management remains confident in the guidance due to strong momentum in U.S. acquiring, eCash, and North America iGaming [62] Question: What are the regulatory risks in Europe? - The company has accounted for regulatory impacts in Germany and the Netherlands, with expectations for stabilization in the second half of the year [64] Question: What is the strategy for consumer growth in digital wallets? - Management is focused on improving user experience and pricing, with expectations for growth in the second half of the year [72][73]
Paysafe (PSFE) - 2021 Q4 - Earnings Call Presentation
2022-03-02 15:16
Paysafe: Fourth Quarter and Full Year 2021 Earnings Presentation March 2, 2022 Forward Looking Statements and Non-GAAP Financial Measures Forward-Looking Statements This presentation includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, ...