Payoneer Global Inc. reported strong financial results for the third quarter ended September 30, 2024, achieving record quarterly volume and revenue. Total revenue reached $248.3 million, marking a 19% increase year-over-year. Revenue excluding interest income grew by 24% year-over-year to $183.1 million.
The company's B2B segment demonstrated significant growth, with volume increasing by 57% year-over-year. Adjusted EBITDA for the quarter was $69.3 million, representing a 19% increase compared to the third quarter of 2023. Active Ideal Customer Profiles (ICPs) grew 11% year-over-year, and Average Revenue Per User (ARPU) excluding interest income accelerated by 20%.
Based on this performance, Payoneer raised its full-year 2024 guidance, projecting total revenue between $950 million and $960 million. Adjusted EBITDA is now expected to be between $255 million and $265 million. The company also completed the repurchase of 25 million outstanding public warrants with a strike price of $11.50.
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