Paymentus Holdings reported strong third-quarter financials, with revenue up 18.9% year-over-year, according to



Paymentus Holdings, a leading provider of cloud-based bill payment technology, saw revenue increase 18.9% year over year to $152.4 million in the third quarter of 2023, which ended September 30, according to unaudited financial results. The company attributed the strong performance to a significant increase in transaction volume, which rose 25.2% to 115.4 million transactions.

The company’s gross profit also increased, rising 23.9% to $46.9 million. Adjusted EBITDA, a key profit metric, jumped 93.9% to $15.5 million, equivalent to a healthy margin of 25.3%.

The company’s net income was $6.4 million (GAAP) and $10.9 million (non-GAAP), with earnings per share of $0.05 and $0.09, respectively. At the same time, contribution profit increased strongly by 20.3% to US$61.5 million.

CEO Dushyant Sharma highlighted the important role of demand and competitive differentiation in driving the company’s performance during the quarter. He also pointed to a large backlog and good visibility as key factors boosting future growth prospects.

The company’s financial results underscore its continued momentum in the cloud-based bill payment technology market and its ability to capitalize on growing transaction volumes.

This article was created and translated with the help of artificial intelligence and reviewed by an editor. For more information, please see our terms and conditions.


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