Paysafe announces 2021 financial results total payment volume up 22

Paysafe processed $122bn worth of payments in 2021, representing growth of 22% year-on-year

Paysafe processed $122bn worth of payments in 2021, representing ontogeny of 22% year-on-year.

This was just unity of the positively charged metrics reported past Paysafe as component part of its full-year and Q4 2021 financial statement, which saw its pre-trading caudex value rise by 9%, hitting $3.15.

Full-year revenue amounted to $1.48bn, an increment of $60m, or 4%, compared with the previous year. The troupe attributed its revenue development to successful risks it took inward “certain markets and channels,” as advantageously as the recovering planetary economy.

Net red also provided a positively charged picture, shrinkage to $111m from $127m YoY, aided past an step-up in income taxation benefit and just note value make on the company’s stock-purchase warrant liability.

Finally, Paysafe recorded familiarised EBITDA of $444m for 2021, which represented maturation of $18m, or 4%, compared with 2020.

Philip McHugh, CEO, Paysafe, commented: “We are pleased with our fourth-quarter results, which exceeded our revised steering for revenue and adjusted EBITDA.

“We saw continued warm carrying out from US Acquiring and the turnaround time of our digital wallet stage business is easily underway with the actions we’ve taken impulsive electropositive results; repositioning the business organisation for success, and enabling us to imbibe marketplace risks inwards Europe.”

The society also released financial results from its modish trading period, Q4, which for the most part followed a similar trend to the total year.

Total payment intensity smash $31.5bn, an increment of 20%; revenue of $372m, which was broadly speaking matte compared with the previous year; nett red ink increased to $90m from $3.4m, largely due to the acquisition of SafetyPay, piece familiarized Earnings Before Interest Taxes Depreciation and Amortization totalled $106m, an step-up of 11% YoY.

Paysafe also highlighted recent strategical and in operation(p) events, which included partnering with Binance, expanding inward the New York sports betting marketplace and partnering with Hard Rock International and Bally’s Corporation.

McHugh continued: “We bear on to win and follow up on private-enterprise(a) deals with some of the most turbulent companies inward heights maturation verticals, such as North America iGaming and crypto, and our teams remain extremely focussed on delivering on our commitments."