Paymentus Stock Climbs After Q4: Here's Why

Paymentus Holdings, Inc. PAY shares are climbing after the company reported its fourth-quarter financial results after the bell Monday. Here's a look at the highlights.

The Details:

Paymentus reported quarterly earnings of 11 cents per share which beat the analyst consensus estimate of 7 cents per share.

Quarterly sales clocked in at $164.8 million which beat the analyst consensus estimate of $157.416 million and is a 24.68% increase over sales of $132.176 million from the same period last year.

The company processed 124.8 million transactions in the fourth quarter of 2023, an increase of 28.4% from the fourth quarter of 2022.

“Paymentus again reported quarterly results that exceeded our original expectations as revenue rose 24.7%, contribution profit grew 22.7% and adjusted EBITDA was up 95.4% year-over-year. We also ended the year on solid footing with a strong backlog, which we believe leaves us well positioned for continued growth in 2024,” said Dushyant Sharma, CEO of Paymentus Holdings.

Outlook: 

Paymentus sees first-quarter revenue between $170 million and $176 million, versus the $177.91 million estimate and fiscal year 2024 revenue between $720 million and $744 million, versus the $732.15 million consensus estimate.

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PAY Price Action: According to Benzinga Pro, Paymentus shares are trading up 17.9% after-hours at $19.25 at the time of publication.

Image: Pete Linforth from Pixabay