Paysafe Group plc (LSE: PAYS, “Paysafe” or the “Group”), a leading global provider of payment solutions, issues the following scheduled trading update covering the period since the release of the Group’s Half-Year Results on 10 August, 2016.
-Further to the update on trading given at the Group’s Half-Year results in August, Paysafe continues to perform in line with management expectations.
-The Group’s expectations for revenue and adjusted EBITDA(1) remain unchanged, with revenue in the range of $970m – $990m and an adjusted EBITDA range of $287m – $293m, based on an adjusted EBITDA margin of 29.6%.
Paysafe President and Chief Executive Officer Joel Leonoff said:
“I am delighted to report that we are on track to achieve the upgraded revenue and adjusted EBITDA projections for the current financial year which we set out at the time of our Half-Year results in August, all while maintaining our focus on further expanding our payments business and enhancing our core technology platform.
We remain focused on delivering innovative payment solutions that serve the evolving needs of the merchants we work with and look forward to updating the market on our FY 2016 results in early 2017.”
(1) Adjusted EBITDA is defined as results of operating activities before depreciation, amortisation, and share-based payments and adjusted for exceptional non-recurring items which are defined as items of income and expense of such size, nature or incidence that, in the view of management, should be disclosed to explain the performance of the Group.
Paysafe provides digital payments and transaction-related solutions to businesses and consumers around the world. Paysafe makes transactions easy by enabling fast, convenient and secure ways to pay before, pay now and pay later through its digital wallets, prepaid solution, payment processing and card issuing and acquiring products and services. We believe that every point of every payment should be relevant, simple and secure. With two decades of experience, Paysafe is trusted by merchants and consumers in more than 200 countries and territories, to move and manage money via more than 100 payment types and 40 currencies. Paysafe offers multi-platform products with an emphasis on emerging payment technologies including mobile. Paysafe’s brand portfolio includes NETELLER® and Skrill®, MeritCard, paysafecard®, payolution®, Income Access and FANS Entertainment. Paysafe Group plc shares trade on the London Stock Exchange under the symbol (PAYS.L). For more information, visit: www.paysafe.com.