PAYO - Payoneer Global stock soars over 16% on upbeat guidance strong earnings

Payoneer Global ( NASDAQ: PAYO ) stock soared as much as 16.6% to an over three-month high on Wednesday as the payment services provider provided upbeat 2023 guidance and posted better-than-expected Q4 results .

The company expects 2023 revenue of $800M-$810M, topping estimates, driven by continued customer acquisition, especially growth in larger, more profitable customers and in higher take rate regions.

Adj. EBITDA is projected to be $120M-$130M, more than double Y/Y, benefitting from strong revenue growth and expense rationalization measures.

"In 2023, we will focus our customer acquisition strategy on larger, more profitable SMBs. We will also invest in our technology platform while driving increased operating efficiency," said CFO Bea Ordonez.

Payoneer ( PAYO ) plans to invest ~$30M in 2023 to build the next generation of its technology platform.

Q4 EPS was -$0.03 vs. -$0.06 in Q4 2021. Revenue rose 31.8% Y/Y to $183.56M, driven by growth of high-value services, continued customer acquisition, and accelerating interest income. B2B AP/AR volumes grew 39% Y/Y, representing 12% of total volume in 2022, up from 9% in 2021.

Payoneer ( PAYO ) also named Caplan as CEO and Bea Ordonez as CFO.

Earlier, Jefferies initiated Payoneer ( PAYO ) at Buy on first-mover advantage and geographic reach .

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