Why Are Paya Shares Plunging Today?

Paya Holdings Inc PAYA reported third-quarter FY21 revenue growth of 21.8% year-on-year to $63.1 million, missing the consensus of $63.8 million.
Revenue from the Integrated Solutions segment rose 30.6% Y/Y to $39.7 million, and the Payment Services segment increased 9.1% Y/Y to $23.4 million. Payment volume was up 27.7% Y/Y to $11.1 billion.
The gross margin expanded 170 bps to 51.7%. Payment Services gross margin expanded 800 bps to 53%.
Adjusted EPS of $0.04 missed the consensus of $0.10.
Paya generated $18.7 million in operating cash flow during the nine months ended September 30.
The company held $133.1 million in cash and equivalents.
"Paya performed well in the quarter, with payment volume growing 28%, revenue growing 22%, and gross profit growing 26%. We signed some great new partners across our verticals and saw a certain B2B partner scale faster than expected, which is promising as we focus on our medium-term growth ambitions," CEO Jeff Hack said.
Outlook: Paya reiterated FY21 revenue of $244 million - $248 million, below the consensus of $247.8 million.
Price action: PAYA shares traded lower 16.5% at $7.92 on the last check Friday.