Finance Magnet

Paysafe has released its financial report for the second quarter of 2024, highlighting a 9% increase in revenue to $439.9 million compared to the same period last year. According to the company’s statement, this growth has led the payment platform to revise its full-year revenue forecast upwards.

Strong Q2 Performance

The company’s total payment volume reached $38.1 billion, marking a 7% increase year-over-year. Although Paysafe recorded a net loss of $1.4 million, this was an improvement from the $1.8 million loss in the same quarter last year.

Adjusted net income grew to $36.3 million, or $0.59 per diluted share, up from $34.7 million, or $0.56 per diluted share, a year ago. Adjusted EBITDA also experienced a modest rise of 5%, reaching $119 million.

Commenting about the strong performance, Paysafe‘s CEO, Bruce Lowthers, said: “Given our robust performance in the first half of the year, we are raising our revenue guidance for 2024 to a growth range of 7% to 8%.” Lowthers also highlighted a 125 basis point increase at the midpoint from their original guidance.

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