PAY - Paymentus Reports Q4 and FY 2023 Financial Results

2024-03-05 04:30:00 ET

DENVER, Colo., Mar 05, 2024 ( 247marketnews.com )- Paymentus Holdings, Inc. (NYSE: PAY ) reported, after yesterday’s market close, its unaudited fourth quarter and full year 2023 financial results.

Paymentus is trading at $19.40, up $3.05 (+18.65%), on 2K shares.

PAY’s 24.7% year-over-year quarterly revenue increase grew its adjusted EBITDA 95.4% year-over-year, reflecting 30% of contribution profit.

Increased transactions caused revenue to increase 23.6%, year-over-year, to $614.5 million and 2024 revenue is projected to grow to $720-$744 million.

Full year EBITDA is projected to grow from $58.1 million, in 2023, to $65-$75 million, in 2024.

“Paymentus again reported quarterly results that exceeded our original expectations as revenue rose 24.7%, contribution profit grew 22.7% and adjusted EBITDA was up 95.4% year-over-year. We also ended the year on solid footing with a strong backlog, which we believe leaves us well positioned for continued growth in 2024,” said Dushyant Sharma, Founder and CEO.

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