Core Insights - Payoneer reported record quarterly revenue for Q3 2025, demonstrating resilience and strength in its diverse business model, with a 15% year-over-year growth in revenue excluding interest income [3][8][10] - The company has raised its 2025 guidance for total revenue, reflecting consistent expectations for revenue growth and increased interest income due to strong year-over-year growth in customer funds [10][11] Financial Performance - Q3 2025 revenue excluding interest income reached $211.4 million, a 15% increase from Q3 2024, driven by 9% volume growth and significant take rate expansion with SMB customers [8][19] - Total revenue for Q3 2025 was $270.9 million, up 9% year-over-year [19] - Net income for Q3 2025 was $14.1 million, a decrease of 66% compared to $41.6 million in Q3 2024 [19][27] - Adjusted EBITDA for Q3 2025 was $71.3 million, reflecting a 3% increase year-over-year [19][25] Business Highlights - The company achieved a record $1.6 billion in spend on Payoneer cards, a 19% increase year-over-year, indicating higher usage per customer [14] - SMB customer revenue grew to $192 million, a 17% increase year-over-year, with marketplace sales contributing $121 million, up 11% [8][14] - The average revenue per user (ARPU) excluding interest income grew by 22% year-over-year, marking the fifth consecutive quarter of over 20% growth [8][10] 2025 Guidance - Payoneer has increased its 2025 revenue guidance to a range of $1,050 million to $1,070 million, with adjusted EBITDA expected between $270 million and $275 million [11][10] - The company anticipates transaction costs to be approximately 16.0% of revenue [11] Operational Metrics - Active Ideal Customer Profiles (ICPs) decreased by 2% year-over-year to 548,000 [8] - The volume of transactions processed was $22.3 billion, a 9% increase year-over-year [8]

Global Commerce - The report indicates a shift in global commerce norms, potentially driven by actions that rebuff America [1]

Bitcoin & Technology - Bitcoin is presented as a technology mirroring ancient systems like gold, aiming to normalize global commerce with verifiable, apolitical money [1] - JAN3 highlights a talk by its Chief Scientist on Bitcoin and international trade at LuganoPlanB [1]

BRICS foreign ministers voiced concern over rising protectionism and unilateral trade measures, saying such actions threaten global commerce and marginalize the Global South https://t.co/y3lbLY4tOl ...

The BRICS are now trading more with one another than with America, and the gap is widening. China might be the biggest winner from Donald Trump’s reshaping of global commerce https://t.co/hvrDJJkdZ0 ...