LONDON–(BUSINESS WIRE)–Paysafe Limited (“Paysafe” or the “Company”) (NYSE: PSFE), a leading payments platform, today announced its financial results for the fourth quarter and full year 2022.
Fourth Quarter 2022 Financial Highlights
(Metrics compared to fourth quarter of 2021)
- Total Payment Volume of $33.1 billion*, increased 5%
- Revenue of $383.6 million, increased 3%; increased 8% on a constant currency basis
- Net loss attributable to the Company of $33.7 million, compared to net income attributable to the Company of $90.3 million
- Adjusted net income of $33.1 million, compared to $52.2 million
- Adjusted EBITDA of $107.6 million, increased 2%; increased 6% on a constant currency basis
Full Year 2022 Financial Highlights
(Metrics compared to full year 2021)
- Total Payment Volume of $130.1 billion*, increased 6%
- Revenue of $1,496.1 million, increased 1%; increased 5% on a constant currency basis
- Net loss attributable to the Company of $1.9 billion and inclusive of non-cash impairment charges of $1.9 billion in 2022, compared to $111.0 million
- Adjusted net income of $137.0 million, compared to adjusted net income of $185.8 million
- Adjusted EBITDA of $410.0 million, decreased 8%; decreased 3% on a constant currency basis
Bruce Lowthers, CEO of Paysafe, commented: “We are pleased with our progress and fourth quarter financial results, including 8% year-over-year constant currency revenue growth. When I joined Paysafe, we said our focus would be on returning to growth in the back half of the year and into 2023, and we have done exactly that. We have recruited high-caliber talent, simplified and re-positioned the business, and re-built our sales organization, which is driving early success in cross-selling and multi-product client wins. Looking ahead, we remain relentlessly focused on client experience, product innovation, and further sales transformation to fully leverage our assets globally and capture meaningful growth opportunities for years to come.”
Recent Strategic and Operational Highlights
- Completed 1-for-12 reverse stock split of the Company’s common shares
- Constant currency revenue growth of 9% year-over-year in the second half of 2022 (3% reported basis)
- Expanded into the new Ohio online sports betting market – Paysafe now powers payments for iGaming operators across 25 U.S. states or jurisdictions
- Announced a new partnership with Virgin Voyages to streamline online payments
- Expanded relationship with Microsoft, bringing Paysafe’s eCash solution to the U.S. and eight countries in Europe; collaboration now spans 31 countries
* Volumes exclude embedded wallet related volumes of $9.2 billion and $37.5 billion in the fourth quarter and full year 2022, respectively.
Changes to Segment Names and Reporting Structure
As previously announced, Paysafe renamed and realigned its two reportable segments as follows:
-
Merchant Solutions (renamed from US Acquiring) continues to include the Company’s US Acquiring business and now also includes the integrated & eCommerce (IES) business.
- IES was previously included within Digital Commerce.
- Digital Wallets (renamed from Digital Commerce) continues to include the Company’s digital wallets and eCash businesses.
The recast of certain historical financials are available within the materials accompanying this press release.
Fourth Quarter and Full Year 2022 Summary of Consolidated Results
|
|
|
Three Months Ended |
|
|
Year Ended |
|
||||||||||
|
|
|
December 31, |
|
|
December 31, |
|
||||||||||
|
($ in thousands) (unaudited) |
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
||||
|
Revenue |
|
$ |
383,568 |
|
|
$ |
371,661 |
|
|
$ |
1,496,137 |
|
|
$ |
1,487,013 |
|
|
Gross Profit (excluding depreciation and amortization) |
|
$ |
227,443 |
|
|
$ |
223,550 |
|
|
$ |
882,112 |
|
|
$ |
887,235 |
|
|
Net (loss) / income attributable to the Company |
|
$ |
(33,711 |
) |
|
$ |
90,296 |
|
|
$ |
(1,862,655 |
) |
|
$ |
(110,954 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
Adjusted EBITDA |
|
$ |
107,561 |
|
|
$ |
105,459 |
|
|
$ |
409,951 |
|
|
$ |
443,898 |
|
|
Adjusted EBITDA margin |
|
|
28.0 |
% |
|
|
28.4 |
% |
|
|
27.4 |
% |
|
|
29.9 |
% |
|
Adjusted net income attributable to the Company |
|
$ |
33,089 |
|
|
$ |
52,196 |
|
|
$ |
137,043 |
|
|
$ |
185,798 |
|
Fourth Quarter 2022 Results
Total revenue for the fourth quarter of 2022 was $383.6 million, an increase of 3%, compared to $371.7 million in the prior year period, driven by strong revenue growth from Merchant Solutions, which increased 10%, partly offset by Digital Wallets, which declined 4%. Excluding a $17.6 million unfavorable impact from changes in foreign exchange rates, total revenue increased 8% compared to the prior year period. Digital Wallets revenue increased 6% on a constant currency basis, reflecting growth from acquisitions completed in the last twelve months and growth from new products, which more than offset an impact from the Russia-Ukraine war of approximately 1%.
Net loss attributable to the Company for the fourth quarter was $33.7 million, compared to net income of $90.3 million in the prior year period. The decrease is largely attributable to a fair value gain on the remeasurement of the warrant liability and an income tax benefit in the prior year period as well as increases in interest expense and share-based compensation expense in the fourth quarter of 2022.
Adjusted EBITDA for the fourth quarter was $107.6 million, an increase of 2%, compared to $105.5 million in the prior year period. Excluding a $4.1 million unfavorable impact from changes in foreign exchange rates, Adjusted EBITDA increased 6% compared to the prior year period. Adjusted EBITDA margin for the fourth quarter was 28.0%, compared to 28.4% in the prior year period.
Adjusted net income for the fourth quarter was $33.1 million, compared to $52.2 million in the prior year period, reflecting an increase in interest expense.
Fourth quarter net cash used in operating activities was $449.1 million, compared to an inflow of $131.9 million in the prior year period, mainly reflecting the timing of settlement of funds payable and amounts due to customers. Free cash flow was $91.5 million, compared to $53.1 million in the prior year period, which includes the movement in customer accounts and other restricted cash which was an increase of $504.8 million in 2022, compared to a decrease of $94.8 million in the prior year period.
Full Year 2022 Results
Total revenue for the full year 2022 was $1,496.1 million, an increase of 1%, compared to $1,487.0 million in the prior year, driven by strong revenue growth from Merchant Solutions, which increased 10%, partly offset by Digital Wallets, which declined 9%. Excluding a $70.5 million unfavorable impact from changes in foreign exchange rates, total revenue increased 5% compared to the prior year. Digital Wallets revenue increased 1% on a constant currency basis, reflecting growth from acquisitions completed in the last twelve months and growth from new products, which more than offset market headwinds related to gambling regulations in Europe as well as an impact from the Russia-Ukraine war of approximately 1%.
Net loss attributable to the Company for the full year 2022 was $1,862.7 million, compared to a net loss of $111.0 million in the prior year, largely attributable to non-cash charges related to the impairment of goodwill and intangibles recognized in 2022.
Adjusted EBITDA for the full year 2022 was $410.0 million, a decrease of 8%, compared to $443.9 million in the prior year, including unfavorable impacts from foreign exchange rates and business mix, as well as an impact from the Russia-Ukraine war, partly offset by contribution from the acquisitions. Excluding an $18.9 million unfavorable impact from changes in foreign exchange rates, Adjusted EBITDA decreased 3% compared to the prior year. Adjusted EBITDA margin decreased to 27.4%, compared to 29.9% in the prior year.
Adjusted net income for the full year 2022 was $137.0 million, compared to $185.8 million in the prior year. The change in adjusted net income was largely attributable to the same factors impacting Adjusted EBITDA as well as an increase in depreciation and amortization expense, excluding the amortization of acquired intangibles, and an increase in interest expense, excluding the impact of the acceleration of deferred debt financing expense in the prior year.
Net cash from operating activities for 2022 was $924.1 million, compared to $224.5 million in the prior year, mainly reflecting the timing of settlement of funds payable and amounts due to customers. Free cash flow was $297.8 million, compared to $286.3 million in the prior year which includes movements in customer accounts and restricted cash which was a decrease of $684.9 million in 2022, compared to an increase of $32.4 million in the prior year.
Balance Sheet
As of December 31, 2022, total cash and cash equivalents were $260.2 million, total debt was $2.6 billion and net debt was $2.4 billion.
Summary of Segment Results
|
|
|
Three Months Ended |
|
|
|
|
|
Year Ended |
|
|
|
|
|
||||||||||||
|
|
|
December 31, |
|
|
YoY |
|
|
December 31, |
|
|
YoY |
|
|
||||||||||||
|
($ in thousands) (unaudited) |
|
2022 |
|
|
2021 |
|
|
change |
|
|
2022 |
|
|
2021 |
|
|
change |
|
|
||||||
|
Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Merchant Solutions |
|
$ |
208,505 |
|
|
$ |
190,323 |
|
|
|
9.6 |
% |
|
$ |
817,353 |
|
|
$ |
745,344 |
|
|
|
9.7 |
% |
|
|
Digital Wallets |
|
$ |
177,141 |
|
|
$ |
183,821 |
|
|
|
-3.6 |
% |
|
$ |
686,165 |
|
|
$ |
750,025 |
|
|
|
-8.5 |
% |
|
|
Intersegment |
|
$ |
(2,078 |
) |
|
$ |
(2,483 |
) |
|
|
-16.3 |
% |
|
$ |
(7,381 |
) |
|
$ |
(8,356 |
) |
|
|
-11.7 |
% |
|
|
Total Revenue |
|
$ |
383,568 |
|
|
$ |
371,661 |
|
|
|
3.2 |
% |
|
$ |
1,496,137 |
|
|
$ |
1,487,013 |
|
|
|
0.6 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Adjusted EBITDA: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Merchant Solutions |
|
$ |
51,022 |
|
|
$ |
51,755 |
|
|
|
-1.4 |
% |
|
$ |
200,304 |
|
|
$ |
186,878 |
|
|
|
7.2 |
% |
|
|
Digital Wallets |
|
$ |
77,127 |
|
|
$ |
80,009 |
|
|
|
-3.6 |
% |
|
$ |
289,413 |
|
|
$ |
332,090 |
|
|
|
-12.9 |
% |
|
|
Corporate |
|
$ |
(20,588 |
) |
|
$ |
(26,305 |
) |
|
|
21.7 |
% |
|
$ |
(79,766 |
) |
|
$ |
(75,070 |
) |
|
|
-6.3 |
% |
|
|
Total Adjusted EBITDA |
|
$ |
107,561 |
|
|
$ |
105,459 |
|
|
|
2.0 |
% |
|
$ |
409,951 |
|
|
$ |
443,898 |
|
|
|
-7.6 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Adjusted EBITDA margin: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Merchant Solutions |
|
|
24.5 |
% |
|
|
27.2 |
% |
|
(270 bps) |
|
|
|
24.5 |
% |
|
|
25.1 |
% |
|
(60 bps) |
|
|
||
|
Digital Wallets |
|
|
43.5 |
% |
|
|
43.5 |
% |
|
(0 bps) |
|
|
|
42.2 |
% |
|
|
44.3 |
% |
|
(210 bps) |
|
|
||
|
Total Adjusted EBITDA margin |
|
|
28.0 |
% |
|
|
28.4 |
% |
|
(40 bps) |
|
|
|
27.4 |
% |
|
|
29.9 |
% |
|
(250 bps) |
|
|
||
Financial Guidance
For the first quarter and full year 2023, Paysafe expects revenue and Adjusted EBITDA to be in the ranges provided below.
|
($ in millions) (unaudited) |
|
Q1 2023 |
|
Full Year 2023 |
|
Revenue |
|
$375 – $380 |
|
$1,580 – $1,600 |
|
Adjusted EBITDA |
|
$105 – $108 |
|
$452 – $462 |
Webcast and Conference Call
Paysafe will host a live webcast to discuss the results today at 8:30 a.m. (ET). The webcast and supplemental information can be accessed on the investor relations section of the Paysafe website at ir.paysafe.com. An archive will be available after the conclusion of the live event and will remain available via the same link for one year.
|
Time |
Thursday, March 9, 2023, at 8:30 a.m. ET |
|
Webcast |
Go to the Investor Relations section of the Paysafe website to listen and view slides |
|
Dial in |
877-407-3037 (U.S. toll-free); 215-268-9852 (International) |
Paysafe Analyst and Investor Day
As previously announced, Paysafe will be hosting its 2023 Analyst & Investor Day on March 13, 2023 at the New York Stock Exchange. The presentations and Q&A session will be followed by a reception for in-person attendees. The presentation will be webcast live in listen-only mode beginning at approximately 1:00 p.m. ET. To register for the webcast please visit the following link and fill in the requested details here. The webcast can also be accessed on the investor relations section of Paysafe’s website at ir.paysafe.com. A replay will be also available after the event.
Reorganization and Recapitalization (the “Transaction”)
On March 30, 2021, Paysafe completed the previously announced transaction with FTAC, a special purpose acquisition company, which resulted in Paysafe Limited acquiring, and becoming the successor to, the Accounting Predecessor. Simultaneously, it completed the merger with FTAC with an exchange of the shares and warrants issued by Paysafe Limited for those of FTAC. The acquisition was accounted for as a capital reorganization followed by the merger with FTAC, which was treated as a recapitalization. Following the transaction, both the Accounting Predecessor and FTAC are indirect wholly owned subsidiaries of Paysafe Limited. Upon completion of the Transaction, the common stock and warrants began trading on the New York Stock Exchange under the ticker symbols “PSFE” and “PSFE WS,” respectively, on March 31, 2021.
Basis of Presentation
The financial information for the year ended December 31, 2021 included in this press release reflect, and is based upon, information of Paysafe Limited after giving effect to the transaction with Foley Trasimene Acquisition Corporation II (“FTAC”) completed on March 30, 2021.
About Paysafe
Paysafe Limited (“Paysafe”) (NYSE: PSFE) (PSFE.WS) is a leading payments platform with an extensive track record of serving merchants and consumers in the global entertainment sectors. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, and online cash solutions. With over 20 years of online payment experience, an annualized transactional volume of over $130 billion in 2022, and approximately 3,300 employees located in 12+ countries, Paysafe connects businesses and consumers across 100 payment types in over 40 currencies around the world. Delivered through an integrated platform, Paysafe solutions are geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments. Further information is available at www.paysafe.com.
Forward-looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Paysafe Limited’s (“Paysafe,” “PSFE” or the “Company”) actual results may differ from their expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “anticipate,” “appear,” “approximate,” “believe,” “budget,” “continue,” “could,” “estimate,” “expect,” “forecast,” “foresee,” “guidance,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “would” and variations of such words and similar expressions (or the negative version of such words or expressions) may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, without limitation, Paysafe’s expectations with respect to future performance.
These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially, and potentially adversely, from those expressed or implied in the forward-looking statements. While the Company believes its assumptions concerning future events are reasonable, a number of factors could cause actual results to differ materially from those projected, including, but not limited to: cyberattacks and security vulnerabilities; complying with and changes in money laundering regulations, financial services regulations, cryptocurrency regulations, consumer and business privacy and data use regulations or other regulations in Bermuda, the UK, Ireland, Switzerland, the United States, Canada and elsewhere; geopolitical events and the economic and other impacts of such geopolitical events and the responses of governments around the world; acts of war and terrorism, including the conflict in Ukraine; the effects of global economic uncertainties, including inflationary pressure and rising interest rates, on consumer and business spending; risks associated with foreign currency exchange rate fluctuations; changes in our relationships with banks, payment card networks, issuers and financial institutions; risk related to processing online payments for merchants and customers engaged in the online gambling and foreign exchange trading sectors; risks related to our focus on specialized and high-risk verticals; risks related to becoming an unwitting party to fraud or be deemed to be handling proceeds of crimes being committed by customers; the effects of chargebacks, merchant insolvency and consumer deposit settlement risk; changes to our continued financial institution sponsorships; failure to hold, safeguard or account accurately for merchant or customer funds; risks related to the availability, integrity and security of internal and external IT transaction processing systems and services; our ability to manage regulatory and litigation risks, and the outcome of legal and regulatory proceedings; failure of third parties to comply with contractual obligations; changes and compliance with payment card network operating rules; substantial and increasingly intense competition worldwide in the global payments industry; risks related to developing and maintaining effective internal controls over financial reporting; managing our growth effectively, including growing our revenue pipeline; any difficulties maintaining a strong and trusted brand; keeping pace with rapid technological developments; risks associated with the significant influence of our principal shareholders; the effect of the COVID-19 pandemic on our business; and other factors included in the “Risk Factors” in our Form 20-F and in other filings we make with the SEC, which are available at https://www.sec.gov. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in their expectations with respect thereto or any change in events.
Paysafe Limited Condensed Consolidated Balance Sheets (unaudited)
|
($ in thousands) |
|
December 31, 2022 |
|
|
December 31, 2021 |
|
||
|
Assets |
|
|
|
|
|
|
||
|
Current assets |
|
|
|
|
|
|
||
|
Cash and cash equivalents |
|
$ |
260,219 |
|
|
$ |
313,439 |
|
|
Customer accounts and other restricted cash, net of allowance for credit losses of $0 and $673, respectively |
|
|
1,866,976 |
|
|
|
1,658,279 |
|
|
Accounts receivable, net of allowance for credit losses of $10,558 and $8,642, respectively |
|
|
159,324 |
|
|
|
147,780 |
|
|
Settlement receivables, net of allowance for credit losses of $5,398 and $4,049, respectively |
|
|
147,774 |
|
|
|
149,852 |
|
|
Prepaid expenses and other current assets |
|
|
60,810 |
|
|
|
64,497 |
|
|
Related party receivables – current |
|
|
— |
|
|
|
6,492 |
|
|
Contingent consideration receivable – current |
|
|
— |
|
|
|
2,842 |
|
|
Total current assets |
|
|
2,495,103 |
|
|
|
2,343,181 |
|
|
Deferred tax assets |
|
|
104,538 |
|
|
|
21,926 |
|
|
Property, plant and equipment, net |
|
|
11,947 |
|
|
|
14,907 |
|
|
Operating lease right-of-use assets |
|
|
35,509 |
|
|
|
33,118 |
|
|
Derivative asset |
|
|
17,321 |
|
|
|
— |
|
|
Intangible assets, net |
|
|
1,291,458 |
|
|
|
1,202,204 |
|
|
Goodwill |
|
|
1,999,132 |
|
|
|
3,650,037 |
|
|
Other assets – noncurrent |
|
|
2,048 |
|
|
|
1,856 |
|
|
Total non-current assets |
|
|
3,461,953 |
|
|
|
4,924,048 |
|
|
Total assets |
|
$ |
5,957,056 |
|
|
$ |
7,267,229 |
|
|
|
|
|
|
|
|
|
||
|
Liabilities and equity |
|
|
|
|
|
|
||
|
Current liabilities |
|
|
|
|
|
|
||
|
Accounts payable and other liabilities |
|
$ |
241,529 |
|
|
$ |
211,841 |
|
|
Short-term debt |
|
|
10,190 |
|
|
|
10,190 |
|
|
Funds payable and amounts due to customers |
|
|
1,997,867 |
|
|
|
1,400,057 |
|
|
Operating lease liabilities – current |
|
|
7,953 |
|
|
|
8,845 |
|
|
Income taxes payable |
|
|
11,325 |
|
|
|
11,041 |
|
|
Contingent and deferred consideration payable – current |
|
|
18,171 |
|
|
|
13,673 |
|
|
Liability for share-based compensation – current |
|
|
11,400 |
|
|
|
3,360 |
|
|
Total current liabilities |
|
|
2,298,435 |
|
|
|
1,659,007 |
|
|
Non-current debt |
|
|
2,633,269 |
|
|
|
2,748,178 |
|
|
Operating lease liabilities – non-current |
|
|
29,913 |
|
|
|
28,008 |
|
|
Deferred tax liabilities |
|
|
118,791 |
|
|
|
64,886 |
|
|
Warrant liabilities |
|
|
3,094 |
|
|
|
35,575 |
|
|
Liability for share-based compensation – non-current |
|
|
4,942 |
|
|
|
6,664 |
|
|
Contingent and deferred consideration payable – non-current |
|
|
8,975 |
|
|
|
17,142 |
|
|
Total non-current liabilities |
|
|
2,798,984 |
|
|
|
2,900,453 |
|
|
Total liabilities |
|
|
5,097,419 |
|
|
|
4,559,460 |
|
|
Commitments and contingent liabilities |
|
|
|
|
|
|
||
|
Shareholders’ equity in the Company |
|
|
859,637 |
|
|
|
2,569,764 |
|
|
Non-controlling interest |
|
|
— |
|
|
|
138,005 |
|
|
Total shareholders’ equity |
|
|
859,637 |
|
|
|
2,707,769 |
|
|
Total liabilities and shareholders’ equity |
|
$ |
5,957,056 |
|
|
$ |
7,267,229 |
|
Paysafe Limited Condensed Consolidated Statements of Operations (unaudited)
|
|
|
Three Months Ended |
|
|
Year Ended |
|
||||||||||
|
|
|
December 31, |
|
|
December 31, |
|
||||||||||
|
($ in thousands) |
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
||||
|
Revenue |
|
$ |
383,568 |
|
|
$ |
371,661 |
|
|
$ |
1,496,137 |
|
|
$ |
1,487,013 |
|
|
Cost of services (excluding depreciation and amortization) |
|
|
156,125 |
|
|
|
148,111 |
|
|
|
614,025 |
|
|
|
599,778 |
|
|
Selling, general and administrative |
|
|
136,988 |
|
|
|
127,031 |
|
|
|
534,515 |
|
|
|
545,107 |
|
|
Depreciation and amortization |
|
|
67,723 |
|
|
|
63,964 |
|
|
|
266,819 |
|
|
|
261,372 |
|
|
Impairment expense on goodwill and intangible assets |
|
|
1,000 |
|
|
|
— |
|
|
|
1,887,223 |
|
|
|
324,145 |
|
|
Restructuring and other costs |
|
|
3,496 |
|
|
|
3,562 |
|
|
|
64,132 |
|
|
|
25,883 |
|
|
Loss on disposal of subsidiary and other assets, net |
|
|
— |
|
|
|
28 |
|
|
|
1,359 |
|
|
|
— |
|
|
Operating income / (loss) |
|
|
18,236 |
|
|
|
28,965 |
|
|
|
(1,871,936 |
) |
|
|
(269,272 |
) |
|
Other (expense) / income, net |
|
|
(14,085 |
) |
|
|
64,088 |
|
|
|
83,778 |
|
|
|
239,661 |
|
|
Interest expense, net |
|
|
(37,615 |
) |
|
|
(21,536 |
) |
|
|
(126,628 |
) |
|
|
(165,827 |
) |
|
(Loss) / income before taxes |
|
|
(33,464 |
) |
|
|
71,517 |
|
|
|
(1,914,786 |
) |
|
|
(195,438 |
) |
|
Income tax expense / (benefit) |
|
|
247 |
|
|
|
(19,005 |
) |
|
|
(52,502 |
) |
|
|
(85,110 |
) |
|
Net (loss) / income |
|
$ |
(33,711 |
) |
|
$ |
90,522 |
|
|
$ |
(1,862,284 |
) |
|
$ |
(110,328 |
) |
|
Less: net income attributable to non-controlling interest |
|
|
— |
|
|
|
226 |
|
|
|
371 |
|
|
|
626 |
|
|
Net (loss) / income attributable to the Company |
|
$ |
(33,711 |
) |
|
$ |
90,296 |
|
|
$ |
(1,862,655 |
) |
|
$ |
(110,954 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
Net (loss) / income per share attributable to the Company – basic |
|
$ |
(0.56 |
) |
|
$ |
1.50 |
|
|
$ |
(30.78 |
) |
|
$ |
(1.84 |
) |
|
Net (loss) / income per share attributable to the Company – diluted |
|
$ |
(0.56 |
) |
|
$ |
1.50 |
|
|
$ |
(30.78 |
) |
|
$ |
(1.84 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
Net (loss) / income |
|
$ |
(33,711 |
) |
|
$ |
90,522 |
|
|
$ |
(1,862,284 |
) |
|
$ |
(110,328 |
) |
|
Other comprehensive income / (loss), net of tax of $0: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
Gain / (loss) on foreign currency translation |
|
|
21,409 |
|
|
|
738 |
|
|
|
(34,251 |
) |
|
|
(1,406 |
) |
|
Total comprehensive (loss) / gain |
|
$ |
(12,302 |
) |
|
$ |
91,260 |
|
|
$ |
(1,896,535 |
) |
|
$ |
(111,734 |
) |
|
Less: comprehensive income attributable to non-controlling interest |
|
|
— |
|
|
|
226 |
|
|
|
371 |
|
|
|
626 |
|
|
Total comprehensive (loss) / gain attributable to the Company |
|
$ |
(12,302 |
) |
|
$ |
91,034 |
|
|
$ |
(1,896,906 |
) |
|
$ |
(112,360 |
) |
Paysafe Limited Consolidated Net (loss) / income per share attributable to the Company
|
|
Three Months Ended |
|
|
Year Ended |
|
||||||||||
|
|
December 31, |
|
|
December 31, |
|
||||||||||
|
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
||||
|
Numerator ($ in thousands) |
|
|
|
|
|
|
|
|
|
|
|
||||
|
Net (loss) / income attributable to the Company – basic |
$ |
(33,711 |
) |
|
$ |
90,296 |
|
|
$ |
(1,862,655 |
) |
|
$ |
(110,954 |
) |
|
Net (loss) / income attributable to the Company – diluted |
$ |
(33,711 |
) |
|
$ |
90,296 |
|
|
$ |
(1,862,655 |
) |
|
$ |
(110,954 |
) |
|
Denominator (in millions) |
|
|
|
|
|
|
|
|
|
|
|
||||
|
Weighted average shares – basic |
|
60.7 |
|
|
|
60.3 |
|
|
|
60.5 |
|
|
|
60.3 |
|
|
Weighted average shares – diluted |
|
60.7 |
|
|
|
60.3 |
|
|
|
60.5 |
|
|
|
60.3 |
|
|
Net (loss) / income per share attributable to the Company |
|
|
|
|
|
|
|
|
|
|
|
||||
|
Basic |
$ |
(0.56 |
) |
|
$ |
1.50 |
|
|
$ |
(30.78 |
) |
|
$ |
(1.84 |
) |
|
Diluted |
$ |
(0.56 |
) |
|
$ |
1.50 |
|
|
$ |
(30.78 |
) |
|
$ |
(1.84 |
) |
Paysafe Limited Condensed
Contacts
Media
Kate Aldridge
Paysafe
[email protected]
+44 750 079 7547
Investors
Kirsten Nielsen
Paysafe
+1 (646) 901-3140
[email protected]
