Financial Performance - Payoneer achieved a record annual volume of $80 billion, reflecting a 21% year-over-year growth[6] - Revenue for 2024 was $977.7 million, an 18% increase compared to $831.1 million in 2023[2] - Adjusted EBITDA for 2024 was $270.6 million, representing a 32% growth from $205.1 million in 2023[2] - The company reported a 20% year-over-year growth in revenue excluding interest income, reaching $720.9 million in 2024[2] - Revenues for Q4 2024 reached $261.739 million, a 16.7% increase from $224.320 million in Q4 2023[21] - Total revenues for the year 2024 were $977.716 million, up 17.6% from $831.103 million in 2023[21] - Operating income for Q4 2024 was $29.184 million, compared to $25.706 million in Q4 2023, reflecting a 9.7% increase[21] - Adjusted EBITDA for Q4 2024 was $63.271 million, an increase of 21.5% from $52.245 million in Q4 2023[27] - Revenue recognized from contracts with customers for Q4 2024 was $198.233 million, a 26.4% increase from $156.774 million in Q4 2023[22] Net Income and Earnings - Net income for Q4 2024 was $18.2 million, a decrease of 33% compared to $41.6 million in Q3 2024[2] - Net income for Q4 2024 was $18.190 million, down 32.8% from $27.021 million in Q4 2023[21] - Basic earnings per share for Q4 2024 were $0.05, down from $0.08 in Q4 2023[21] - Net income for Q4 2024 was $18.19 million, a decrease of 32.5% from $27.02 million in Q4 2023[31] - Basic earnings per share for Q4 2024 was $0.05, down from $0.08 in Q4 2023, while diluted earnings per share decreased from $0.07 to $0.05[31] Customer and Market Growth - Active Ideal Customer Profiles (ICPs) grew by 8% year-over-year, totaling 560,000[6] - B2B volume grew by 42% year-over-year, contributing significantly to overall volume growth[6] - Greater China contributed $89.938 million in revenue for Q4 2024, up 11.8% from $80.244 million in Q4 2023[24] - North America revenues for Q4 2024 were $25.898 million, a 10.2% increase from $23.499 million in Q4 2023[24] Assets and Liabilities - Total assets increased to $7.93 billion in 2024 from $7.28 billion in 2023, representing an 8.99% growth[33] - Cash and cash equivalents decreased to $497.47 million in 2024 from $617.02 million in 2023, a decline of 19.4%[33] - Customer funds increased to $6.44 billion in 2024, up from $6.39 billion in 2023, reflecting a growth of 0.99%[33] - Total current liabilities rose to $7.13 billion in 2024, compared to $6.54 billion in 2023, an increase of 9.03%[33] - Total shareholders' equity increased to $724.79 million in 2024 from $664.27 million in 2023, a growth of 9.09%[33] Cash Flow - Net cash provided by operating activities for 2024 was $176.93 million, compared to $159.49 million in 2023, an increase of 10.95%[35] - Net cash used in investing activities significantly increased to $1.96 billion in 2024 from $44.25 million in 2023[35] - Cash, cash equivalents, restricted cash, and customer funds at the end of the period totaled $5.66 billion, down from $7.02 billion in 2023, a decrease of 19.4%[35] Future Outlook - Payoneer plans to achieve revenue guidance of $1,040 million to $1,050 million for 2025[11] - The company acquired Skuad, enhancing its financial stack for SMBs operating internationally[12]
PAYONEER GLEQ.WARRT.EXP(PAYOW) - 2024 Q4 - Annual Results