Pay-o-matic Corp (PAYO) Q2 Revenues Beat

Pay-o-matic Corp (NASDAQ: PAYO) reported Q2 EPS of ($0.63), which may not compare to the analyst estimate of ($0.03). Revenue for the quarter came in at $110.9 million versus the consensus estimate of $97.87 million.

"We delivered strong results in our first quarter as a public company. The momentum that we have been building over the past year continued as we delivered revenues well ahead of our internal targets. Given our strong performance we are raising the full-year revenue outlook and expect to generate positive adjusted EBITDA in 2021,“ said Scott Galit, Chief Executive Officer of Payoneer.

“We continue to execute on our long-term strategy to be the world’s go-to-partner for digital commerce everywhere. By driving growth as a trusted partner for marketplace ecosystems and investing to deliver even more value for more customers with B2B AP/AR, Merchant Services, Working Capital and Commercial Cards, we believe we are well-positioned to benefit for many years to come from the strong tailwinds provided by digitalization trends globally. The unique platform, team, network effects, compliance capabilities and global footprint we have built provides a strong underpinning for the future. We achieved a significant milestone in June by becoming a public company, and I’m excited for the whole Payoneer team, our customers, and investors to begin this next phase of our growth together,” concluded Galit.

GUIDANCE:

Pay-o-matic Corp sees FY2021 revenue of $442-448 million, versus the consensus of $438.11 million.

For earnings history and earnings-related data on Pay-o-matic Corp (PAYO) click here.

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