PAYO - Payoneer Global shares climbs after Q3 tops estimates upside outlook

Payoneer Global (NASDAQ:PAYO) up 8% premarket after it reported third-quarter earnings, surpassing consensus on top and bottom lines. Total revenue grew 35% year-over-year to $122.7M, above the consensus of $111.1M. The company did break even in the quarter vs. the $0.04 loss expected by analysts. "We acquired a record number of new customers and drove adoption of services like B2B AP/AR, Bank Partnerships, our Commercial Card, Merchant Services, and Working Capital". "We also accelerated growth in key regions like Latin America and Eastern Europe and forged new partnerships highlighted by our recently announced relationship with Coupang." Transaction costs improved to 20% of revenue compared to 27% of revenue in 2020. Adjusted EBITDA increased 138% to $6.1M as compared to the year-ago period. Operational Metrics: Volume increased 16% to $13.6B compared to $11.7B in 2020; Revenue as a percentage of volume increased to 90 bps from 77 bps in 2020. FY21 Outlook:

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Payoneer Global shares climbs after Q3 tops estimates, upside outlook