PAY - Paymentus stock falls premarket on 2022 guidance cut

• Paymentus ( NYSE: PAY ) stock dropped 21% premarket in low volumes on Thursday after the bill payment solution provider cut its 2022 guidance in its Q2 earnings report .
• PAY expects 2022 revenue of $485M-$492M, up ~25-27% Y/Y, vs. prior outlook of $492M-$497M. Consensus estimate is $495.34M.
• 2022 contribution profit is estimated to be $200M-$204M, up 26-29% Y/Y, vs. prior outlook of $206M-$208M.
• PAY expects 2022 adj. EBITDA of $25M-$28.5M and adj. EBITDA margin of ~13-14%. Its earlier forecast was adj. EBITDA of $30M-$33M and adj. EBITDA margin of ~14.5-16%.
• PAY reported Q2 adj. EPS of $0 vs. consensus estimate of $0.01.
• Revenue increased 28.3% Y/Y to $120M vs. consensus estimate of $117.96M.
• PAY processed 89.5M transactions in Q2, up 39.4% Y/Y.
• Contribution profit was $48.7M, up 30.1% Y/Y.
• Shares of PAY have fallen ~47% YTD.

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