This was just one of the positive metrics reported by Paysafe as part of its full-year and Q4 2021 financial statement, which saw its pre-trading stock value rise by 9%, hitting $3.15.
Full-year revenue amounted to $1.48bn, an increase of $60m, or 4%, compared with the previous year. The company attributed its revenue growth to successful risks it took in “certain markets and channels,” as well as the recovering global economy.
Net loss also provided a positive picture, shrinking to $111m from $127m YoY, aided by an increase in income tax benefit and fair value gain on the company’s warrant liability.
Finally, Paysafe recorded adjusted EBITDA of $444m for 2021, which represented growth of $18m, or 4%, compared with 2020.
Philip McHugh, CEO, Paysafe, commented: “We are pleased with our fourth-quarter results, which exceeded our revised guidance for revenue and adjusted EBITDA.
“We saw continued strong performance from US Acquiring and the turnaround of our digital wallet business is well underway with the actions we’ve taken driving positive results; repositioning the business for success, and enabling us to absorb market risks in Europe.”
The company also released financial results from its latest trading period, Q4, which largely followed a similar trend to the full year.
Total payment volume hit $31.5bn, an increase of 20%; revenue of $372m, which was broadly flat compared with the previous year; net loss increased to $90m from $3.4m, largely due to the acquisition of SafetyPay, while adjusted EBITDA totalled $106m, an increase of 11% YoY.
Paysafe also highlighted recent strategic and operational events, which included partnering with Binance, expanding in the New York sports betting market and partnering with Hard Rock International and Bally’s Corporation.
McHugh continued: “We continue to win and pursue competitive deals with some of the most disruptive companies in high growth verticals, such as North America iGaming and crypto, and our teams remain extremely focused on delivering on our commitments."
