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Payoneer Payoneer Announces Second Quarter 2022 Financial Results August 11 , 2022 Q2 2022 Revenue Growth of 34 % Year - over - Year and Continued Positive Adjusted EBITDA Raises Full Year 2022 Revenue and Adjusted EBITDA Guidance NEW YORK -- ( BUSINESS WIRE ) -- Payoneer Global Inc. ( " Payoneer ” ) ( NASDAQ : PAYO ) , the commerce technology company powering payments and growth for the new global economy , today reported financial results for its second quarter ended June 30 , 2022 . Second Quarter 2022 Financial Highlights ( $ in mm ) 2Q 2021 3Q 2021 4Q 2021 1Q 2022 Revenue $ 110.9 $ 122.7 $ 139.2 $ Transaction costs as a % of revenue 25.7 % 20.1 % 20.2 % Revenue less transaction costs $ 82.4 $ 98.0 $ 111.1 $ 137.0 $ 18.7 % 111.4 $ 2Q 2022 148.2 ΥΟΥ Change 34 % 17.7 % ( 800 bps ) 122.0 48 % Net income ( loss ) ( 12.4 ) 0.8 ( 18.9 ) 20.2 4.4 N.M. Adjusted EBITDA 0.7 6.1 13.5 10.4 14.7 2,087 % Operational Metrics Volume ( $ bn ) $ Revenue as a % of volume ( " Take Rate " ) 13.6 $ 82 bps 13.6 $ 16.2 $ 90 bps 86 bps 14.6 $ 94 bps 14.6 8 % 101 bps 19 bps " Payoneer delivered strong revenue growth and profitability , " said Scott Galit , Co - Chief Executive Officer of Payoneer . " Results highlight our multi - year investments to build a diverse and global business model across industries , products , and geographies , which together continues to increase our overall effective take rate . We are growing the number of customers using our services , benefitting from our strategic expansion into higher value services , as well as seeing better - than - expected results from Ukraine and rising interest rate tailwinds . " " We plan to continue to deliver positive adjusted EBITDA going forward , " said John Caplan , Co - Chief Executive Officer of Payoneer . " We are optimistic about our long - term growth opportunity and are committed to creating enduring value for all our stakeholders . We intend to expand our suite of solutions for our customers , provide a dynamic , inclusive workplace for our employees , and deliver strong , consistent financial returns for our shareholders . " Second Quarter 2022 Business Highlights The Company had several achievements in the quarter , reinforcing its conviction for its long - term investment strategy and ability to drive growth across its diversified business model . • 50 % year - over - year revenue growth in its portfolio of emerging markets , which includes Latin America , Southeast Asia , South Asia , Middle East , North Africa and more • B2B AP / AR volumes grew over 65 % year - over - year and represented 12 % of total volume in the second quarter • The Payoneer ecosystem continues to expand with a significant increase in integration activity with banks and SMB platforms , including new partnerships with EC21 , Linnworks , PrivatBank , and Shoplazza • Customer funds exceeded $ 5 billion for the first time as of June 30 , 2022 Updated 2022 Guidance " We are pleased with our second quarter and first half results , which highlighted the global breadth of our business and diversity of our revenue drivers , " said Michael Levine , Chief Financial Officer of Payoneer . " We have good momentum heading into the second half of 2022 , and we see traction in our strategic investments . " " Therefore , we are raising our revenue guidance for the full year . This reflects our latest views on the evolving broader macro- economic and geopolitical environment , the diversity of geographies and industries that we serve , and the strength of our operations . It also includes our improving outlook on our business in Ukraine given the resilience of its people despite the ongoing war , along with the contribution from interest income in a rising rate environment . " " We anticipate positive adjusted EBITDA for 2022 while we invest in our long - term growth . We remain confident that our continued execution , customer adoption of our higher value services , and successful penetration into high - growth regions all support our increased guidance for the full year 2022 , even with uncertainty ahead around inflation , economic growth , and interest rate levels . "