PAY - Payfare looks to build off record financial numbers including gross profit

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Payfare CEO Marco Margiotta joined SteveDarling from Proactive to discuss the company's recent financialperformance and its role in powering digital banking and instantpayment solutions for the gig workforce.

Margiotta highlighted the company's impressive financialresults, with revenue reaching a record $46.5 million in the secondquarter. This represents a substantial 43% increase compared to thesame period in 2022. He also noted that Payfare is on track to meetits full-year 2023 revenue guidance, which ranges from $185 million to$195 million.

Payfare's successis driven by its partnerships with leading platforms and marketplaceslike Uber, Lyft, and DoorDash, where the company provides financialservices to support the financial health of gig workers.

Margiotta emphasized Payfare's commitment to deliveringinnovative financial solutions for this growing sector of theworkforce. The company's ability to achieve record revenue growthreflects the increasing demand for financial services tailored to thegig economy, positioning Payfare as a key player in this space.

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