PAYO - Payoneer GlobAl stock surges after Q2 beat guidance boost

Payoneer Global ( NASDAQ: PAYO ) stock rose 15% in Thursday after-hours trading after the company raised its 2022 guidance, helped by an improving outlook for its business in Ukraine and the contribution from interest income in a rising rate environment.

The company now expects revenue for the year of $580M-$590M , up from its previous range of $550M-$560M and exceeding the $563M consensus estimate.

Transaction costs guidance of ~19.5% of revenue compares with ~21.5% in its prior view. Adjusted EBITDA is expected to be $30M-$35M vs. prior range of -$10M to -$20M.

Q2 revenue of $148.2M increased from $137.0M in Q1 and from $110.9M in the year-ago ago quarter. Transaction as a percentage of revenue improved to 17.7% in Q2 2022 from 18.7% in Q1 and from 25.7% in the year-ago quarter.

Q2 adjusted EBITDA of $14.7M rose from $10.4M in the prior quarter and from $0.7M in the year-ago quarter.

Take rate of 101 basis points rose from 94 bps in Q1 and 82 bps a year ago.

"We are growing the number of customers using our services, benefitting from our strategic expansion into higher value services, as well as seeing better-than-expected results from Ukraine and rising interest rate tailwinds," said co-CEO Scott Galit.

Q2 GAAP EPS of $0.01, beating the consensus of -$0.06, fell from $0.06 in Q1 and improved from -$0.63 in Q2 2021.

Earlier, Payoneer Global ( PAYO ) GAAP EPS of $0.01 beats by $0.07, revenue of $148.2M beats by $16.72M

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