Paysafe Limited (PSFE) Q3 Earnings call transcript Nov 13, 2024
1min read In Paysafe's third quarter 2024 earnings call, executives provided an update on the company's financial performance, strategic initiatives, and future outlook. Despite the challenges presented by a recent hurricane, Paysafe reported a revenue increase of 8% year-over-year to $427 million, with Merchant Solutions growing 11% and Digital Wallets growing 4%. The company's adjusted EBITDA of $117.8 million was up 1% year-over-year, and the adjusted EBITDA margin expanded by 70 basis points in the third quarter.
Paysafe also highlighted its strategic priorities for 2024, including the expansion of sales capabilities, portfolio optimization, consumer acquisition efforts, and product innovation. The company has made significant strides in these areas, with 83 enterprise wins booked in Q3 and a focus on optimizing the portfolio. Notably, Paysafe's partnership with Revolut has yielded positive results, with 28,000 unique Revolut consumers transacting with the company in the first three months.
Looking ahead, Paysafe is optimistic about its future prospects, with plans to continue investing in strategic initiatives and driving higher-quality revenue growth. The company is also focused on reducing net leverage and improving operational efficiencies, with a net leverage ratio of 4.7x as of Q3. Paysafe reaffirmed its full year financial outlook for 2024, with revenue growth expected to be in the range of 7% to 8% and adjusted EBITDA margin in the range of 27.5% to 28%.
Key shareholders and investors expressed confidence in Paysafe's performance and strategic direction, with questions focusing on the company's plans for revenue growth, portfolio optimization, and strategic partnerships. Paysafe executives provided reassuring responses, emphasizing the company's focus on executing its strategic initiatives and driving sustainable growth.
Overall, Paysafe's third quarter 2024 earnings call highlighted the company's strong financial performance and strategic progress. With a clear focus on optimizing its portfolio, expanding its sales capabilities, and driving consumer acquisition efforts, Paysafe is well-positioned for continued growth and success in the coming year.