Soft payment volume overshadows Adyen's revenue growth, shares tumble 15%

Core Insights - Adyen's revenue grew over 20% in the second half of 2025, but transaction volumes fell short of expectations, leading to a 15% drop in shares [1][2] Financial Performance - Processed transaction volumes increased by 19% to 745 billion euros ($885 billion), below the market forecast of 771 billion euros [1] - Net revenue rose by 21% on a constant currency basis to 1.27 billion euros from July to December [2] - Adyen forecasts revenue growth of 20-22% for 2026 and expects core profit margins to exceed 55% by 2028, up from 53% in 2025 [2] Business Segments - The unified commerce segment saw significant growth, with in-store terminal transactions up 26% year-on-year to 173 billion euros, driven by partnerships with clients like Starbucks and Uber [3] - Adyen is expanding its partnership with Starbucks from Mexico to Switzerland, Austria, and Britain, implementing payment solutions in 943 stores across Europe [3] Strategic Initiatives - Existing customers are driving short-term growth, while new clients through geographic expansion are expected to contribute to long-term momentum [4] - Adyen's payment volumes are advantageous for training artificial intelligence, with ongoing discussions with retailers about utilizing AI in commerce [4] - The company plans to hire around 600 people to enhance internal automation efforts and develop new AI products for market expansion [5]