PSFE - Paysafe stock rises after strong Q4 guidance Q3 earnings beat

Paysafe ( NYSE: PSFE ) stock gained 6.4% in  late Thursday morning trading after the payment technology company turned in strong guidance and Q3 results topped Wall Street expectatinos.

For Q4 the company expects revenue of $370M-$378M , compared with the $370.8M consensus. Adjusted EBITDA is expected to rise to $105M-$109M, up from $95.5M reported in Q3. Visible Alpha consensus is $103.1M.

In addition, the company scheduled a special meeting of shareholders to vote on a 1-for-12 reverse stock split.

It also plans to rename and realign its two reportable segments. US Acquiring will become Merchant Solutions and will include its Integrated & eCommerce business, which had been included in its Digital Commerce segment.

Digital Commerce will be renamed Digital Wallets as will consist of Paysafe's ( PSFE ) digital wallets and eCash businesses.

Total payment volume for the quarter slipped from $32.5B from $33.4B in Q2, but increased 5% Y/Y.

Q3 adjusted EPS of $0.04 exceeded the consensus estimate of $0.02 and slipped from $0.05 in Q3 2021.

Revenue of $366.0M, topping the $353M consensus estimate, fell from $378.9M in the prior quarter and  increased from $353.6M in the year-ago quarter.

US acquiring revenue of $185.4M vs. $187.2M in Q2 and $164.9M in the year-ago quarter. Digital Commerce revenue, at $180.6M, fell from $191.8M in the prior quarter and from $188.6M in the year-ago period.

Q3 adjusted EBITDA of $95.5M, down from $102.9M in Q2 and from $106.4M in the year-ago quarter.

Earlier, Paysafe ( PSFE ) reports Q3 results, tightens FY outlook

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