Payoneer (US:PAYO)2025-06-23 11:16Business Overview - Payoneer aims to connect underserved businesses to the global economy, addressing the complexities of cross-border transactions for SMBs[17, 18] - The company serves diverse customer types, including consumer goods sellers, contractors, service providers, and goods traders in fast-growing markets[28, 29] - Payoneer has 198 million active customers, including 530,000 active Ideal Customer Profiles (ICPs), and holds $59 billion in customer balances[38] Financial Performance - Total volume grew by 21% in Q1 2024, driven by diverse customer channels[44] - Revenue excluding interest income and onboarding fees from an enterprise client grew by 21% year-over-year in Q1 2024, reaching $163 million[71] - The company earned $65 million in interest income on customer funds in Q1 2024[53] Growth Strategy - Payoneer is focused on driving faster ICP growth in higher take rate regions and with larger, higher volume ICPs[63] - The number of active ICPs increased by 8% year-over-year, reaching 530,000 in Q1 2024[64] - The company is expanding its accounts payable (AP) capabilities to drive greater retention and lifetime value among larger SMBs[57] Financial Outlook - Payoneer is reiterating its 2024 full-year revenue guidance of $895-905 million and adjusted EBITDA guidance of $200-210 million[91] - The company targets a mid-teens revenue growth and a 25% adjusted EBITDA margin in the medium term (through 2026)[95]