Paymentus Powers Up: Q3 Revenue Soars 51.9%, Fueling High Hopes For FY24

Paymentus Holdings, Inc. PAY shares traded higher premarket on Wednesday after the company reported third-quarter results and strong guidance.

Revenue escalated 51.9% year-over-year to $231.6 million, beating the consensus of $190.6 million, led by increased billers and transactions.

The company processed 155.3 million transactions in the quarter, an increase of 34.6% year-over-year. Adjusted gross profit rose 29.1% year-over-year to $66.2 million, and contribution profit surged 30.1%.

Adjusted EBITDA stood at $24.6 million, up 58.2% year-over-year, representing an adjusted EBITDA margin of 30.7%. Adjusted EPS of $0.15 exceeded the consensus of $0.09.

Outlook: For the fourth quarter, Paymentus expects revenue of $215 million and $220 million vs. $203.62 million estimate, with contribution profit expected to be $79 million – $81 million and adjusted EBITDA of $22 million – $24 million.

For FY24, the company anticipates revenue of $829 million – $834 million (prior view: $770 million – $780 million), compared to the consensus of $776.58 million, with contribution profit of $305 million – $307 million and adjusted EBITDA of $89 million – $91 million.

Price Action: PAY shares are up 22.7% at $32.65 premarket at the last check Wednesday.

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