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

[ad_1]


©Reuters.

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.

[ad_2]

Source link

Related Posts

NEAR and Polygon collaborate on zero-knowledge proof innovation

[ad_1] The NEAR Foundation has partnered with Polygon Labs to develop zkWASM, a cutting-edge zero-knowledge solution that enhances the interoperability and security of WASM chains. The NEAR…

Amazon, Olympus challenges OpenAI, Microsoft’s AI dominance

[ad_1] Amazon, Olympus challenges OpenAI, Microsoft’s AI dominance AmazonThe world’s largest online retail and technology provider, through its web services arm AWS (Amazon Web Services), recently revealed…

Financial giant Fidelity responds to 9 common misconceptions and criticisms about Bitcoin

[ad_1] Financial services giant Fidelity has addressed nine common criticisms and misconceptions about Bitcoin, highlighting that some of them are “unfounded or unlikely to be…

Third-quarter profits lower, revenue higher, according to Investing.com

[ad_1] ©Reuters. Lyft reports: Third-quarter profits down, revenue up Investing.com – Lyft (NASDAQ: ) on Wednesday reported third-quarter results that missed analysts’ expectations and revenue that beat…

CEHV partners say future uncertain during Genesis shutdown

[ad_1] Many analysts are speculating on the outcome of the spot Bitcoin ETF race, and CEHV partner Adam Cochran shared his views in a Nov. 8 X…

Second-quarter profits lower, revenue higher, according to Investing.com

[ad_1] ©Reuters. Take-Two reports: Second-quarter profits fall, revenue rises Investing.com – Take-Two (NASDAQ: ) on Wednesday reported second-quarter results that missed analysts’ expectations and revenue that beat…

Trả lời

Email của bạn sẽ không được hiển thị công khai. Các trường bắt buộc được đánh dấu *