PAYO - Payoneer Global 2022 guidance excludes Russia Belarus Ukraine revenue

Payoneer Global (NASDAQ:PAYO) stock is dropping 5.2% in after-hours trading after the company's 2022 revenue guidance, reflecting the potential impact of the Ukraine war, trailed the consensus estimate. The payment tech firm expects 2022 revenue of $530M-$540M vs. Visible Alpha consensus of $561.6M. "Russia and Belarus combined represent approximately 3% of our revenues, and together with Ukraine were slightly less than 10% of revenue in 2021," said Chief Financial Officer Michael Levine. "For the remaining ten months of the year, we had projected these countries would generate approximately $46M of revenue, which we are now excluding from our guidance." The company expects the rest of its global business to increase 22%-24% in 2022. He added that its guidance for 2022 adjusted EBITDA of -$25M to -$35M is intended to reflect a "downside outcome based on the full impact to our current unrevised investment plans." Q4 revenue of $139.2M beat the $126.3M

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Payoneer Global 2022 guidance excludes Russia, Belarus, Ukraine revenue