Why Payoneer Global Stock Is Trading Higher Today

Payoneer Global PAYO shares are trading higher after the company reported better-than-expected fourth-quarter EPS and issued full-year 2023 guidance above estimates.

What to Know: On Tuesday after market closure, Payoneer Global reported its results for full-year and fourth quarter ended Dec. 31st, 2022. The company also provided guidance for 2023.

Payoneer reported quarterly earnings (losses) of $(0.03) compared to the analyst consensus estimate of $(0.05), representing an earnings surprise of 40%. The company reported quarterly sales of $183.56 million compared to the analyst consensus estimate of $170.88 million, representing an earnings surprise of 7.4%.

The company reported yearly earnings of $(0.03) per share compared to $(0.33) per share in 2021. Payoneer reported yearly sales of $627.6 million compared to sales of $473.4 in 2021.

Payoneer Global also provided guidance for 2023. The company expects sales in the range of $800-$810 million, and an adjusted EBITDA in the range of $120-$130 million. Additionally, the company expects transaction costs to account for ~16% of yearly revenue.

"Payoneer's 2022 results demonstrated our ability to deliver strong revenue growth while significantly expanding adjusted EBITDA," said Michael Levine, Chief Financial Officer.

Payoneer is a financial technology company empowering the world's small businesses to transact, do business and grow globally. Payoneer was founded in 2005 with the belief that talent is equally distributed, but opportunity is not.

According to data from Benzinga Pro, Payoneer Global shares were up 12.8%, trading at $6.53 at the time of publication. The stock has a 52-week high of $8.04 and a 52-week low of $3.33.