Q1 2025 Payoneer Global Inc Earnings Call Transcript
Key Points
- Payoneer Global Inc (PAYO) reported a 16% year-over-year revenue growth, excluding interest income, surpassing their medium-term targets.
- The company's B2B revenue increased by 37%, driven by strong growth in APAC, EMEA, and Latin America regions.
- Adjusted EBITDA reached $65 million with a 27% margin, marking the fourth consecutive quarter of profitability net of interest.
- Payoneer Global Inc (PAYO) successfully cross-sold more products, leading to an 18% revenue increase from $10,000-plus ICPs.
- The company has expanded its global regulatory footprint, including acquiring a licensed China-based payment provider, enhancing its position in key markets.
- Payoneer Global Inc (PAYO) suspended its full-year 2025 guidance due to uncertainty in the global macroeconomic and trade policy environment.
- The company anticipates a potential $50 million revenue headwind for the full year 2025 if the current global tariff regime remains in place.
- Transaction costs increased by 16%, driven by growth in higher transaction cost products and business lines.
- Net income decreased to $21 million from $29 million in the first quarter of the previous year.
- The company faces challenges from marketplace-driven changes in the timing of large holiday volume payouts, impacting volume growth from SMBs selling on marketplaces.
Good morning and thank you for standing by. Welcome to the Payoneer's first-quarter 2025 earnings conference call. (Operator Instructions)
As a reminder, this conference call is being recorded. I would now like to turn the call over to Michelle Wang, Payoneer's VP of Investor Relations.
Thank you, Operator. With me on today's call are Payoneer's Chief Executive Officer, John Caplan; and Payoneer's Chief Financial Officer, Bea Ordonez.
Before we begin, I'd like to remind you that today's call may contain forward-looking statements, which are subject to risks and uncertainties. For more information, please refer to our filings with SEC, which are available in the Investor Relations section of payoneer.com.
Actual results may differ materially from any forward-looking statements we make today. These forward-looking statements speak only as of today, and the company does not assume any obligation or intent to update them, except as required by law. In addition,
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