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nuvei Payment Technology Partner Nuvei Announces Fourth Quarter and Full Year 2020 Results Nuvei reports in U.S. dollars and in accordance with International Financial Reporting Standards ( " IFRS ” ) - MONTREAL , March 10 , 2021 Nuvei Corporation ( " Nuvei ” or the “ Company ” ) ( TSX : NVEI and NVEI.U ) , the global payment technology partner of thriving brands , today reported its financial results for the fourth quarter and the full year ended December 31 , 2020 . " We are very pleased with our fourth quarter results , including 53 % total volume * growth , 46 % revenue growth and 61 % adjusted EBITDA ** growth over the fourth quarter of 2019 , " said Philip Fayer , Nuvei's chairman and CEO . “ Our performance continues to be driven by strong momentum in the high - growth verticals we serve , as well as by our customizable , scalable , and feature - rich technology platform , which provides one of the industry's most complete payment technology solutions going well beyond merchant acquiring . As we look to 2021 , we remain excited about the opportunity ahead of us with the momentum of our current customers and the strength of our new business pipeline which is reflected in our financial outlook . " Financial Highlights for the Three Months Ended December 31 , 2020 • Total volume * increased 53 % , to $ 13.9 billion from $ 9.1 billion • • • • • • ○ eCommerce represented approximately 80 % of total volume Revenue increased 46 % , to $ 115.9 million from $ 79.3 million Net income was $ 22.6 million compared to a net loss of $ 3.1 million Adjusted EBITDA ** increased 61 % , to $ 51.3 million from $ 31.9 million Adjusted net income ** was $ 46.5 million compared to $ 5.4 million Net income per share of $ 0.16 compared to a net loss per share of $ 0.05 Adjusted net income ** per diluted share of $ 0.33 compared to $ 0.06 Financial Highlights for the Year Ended December 31 , 2020 • • • Total volume * increased 76 % , to $ 43.2 billion from $ 24.6 billion ○ eCommerce represented approximately 76 % of total volume Revenue increased 53 % , to $ 375.0 million from $ 245.8 million Net loss was $ 103.7 million compared to a net loss of $ 69.5 million ○ Net loss included $ 100.9 million in non - cash finance costs resulting from changes in redemption value of liability - classified common and preferred shares , as well as the acceleration of amortization of deferred transaction costs . Of this amount , $ 83.4 million of these non - cash costs resulted from the Company's initial public offering and associated valuation in the third quarter of 2020 . Adjusted EBITDA ** increased 87 % , to $ 163.0 million from $ 87.2 million Adjusted net income ** was $ 89.0 million compared to $ 22.3 million • Net loss per share of $ 1.08 compared to a net loss per share of $ 1.15 Adjusted net income ** per diluted share of $ 0.84 compared to $ 0.33 • Operational Highlights • The fourth quarter represented the strongest growth in the Company's history driven by wallet share expansion from current merchants and the acceleration of new merchant wins driven by continued expansion and investment in Nuvei's direct distribution channel . New eCommerce business nearly tripled in the fourth quarter of 2020 compared to the fourth quarter of 2019 and the momentum has continued well into the current quarter with a deep and growing merchant pipeline providing visibility into the full year 2021 . • The Company added several new merchants in our target high - growth verticals including regulated online gaming , social games , online retail , marketplaces , digital goods , financial services and travel .