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Payoneer Payoneer Announces Third Quarter 2022 Financial Results November 9 , 2022 Q3 2022 Revenue Growth of 30 % and 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 third quarter ended September 30 , 2022 . Third Quarter 2022 Financial Highlights ( $ in mm ) 3Q 2021 4Q 2021 Revenue $ 122.7 $ 139.2 1Q 2022 2Q 2022 $ 137.0 3Q 2022 ΥΟΥ Change $ 148.2 $ 158.9 30 % Transaction costs as a % of revenue 20.1 % 20.2 % 18.7 % 17.7 % 17.6 % ( 250 bps ) Revenue less transaction costs $ 98.0 $ 111.1 $ 111.4 $ 122.0 $ 130.9 34 % Net income ( loss ) 0.8 ( 18.9 ) 20.2 4.4 ( 26.5 ) N.M. 6.1 13.5 10.4 14.7 12.7 108 % Adjusted EBITDA Operational Metrics Volume ( $ bn ) Revenue as a % of volume ( " Take Rate " ) $ 13.6 $ 16.2 90 bps 86 bps $ 14.6 94 bps $ 14.6 $ 15.1 101 bps 105 bps 11 % 15 bps " Payoneer reported strong third quarter results , achieving 30 % revenue growth year - over - year , highlighting the global breadth and diversity of our revenue drivers , " said Scott Galit , Co - Chief Executive Officer of Payoneer . “ Our performance reflects solid customer acquisition , adoption of High Value Services including B2B AP / AR and Commercial Mastercard , as well as accelerating interest income revenue from customer funds on our platform . " " Payoneer is powering the cross - border economy and capturing market share in high growth emerging markets . For example , we saw over 50 % year - over - year revenue growth in the third quarter from customers in Latin America , " said John Caplan , Co - Chief Executive Officer of Payoneer . “ Our opportunity is significant and emerging market SMBs are increasingly using our platform , even in times of macroeconomic and geopolitical uncertainty . We have an abundance of opportunity , a diversified business model , and talented people , and we are confident in our ability to execute going forward . " Third Quarter 2022 Business Highlights The Company had several achievements in the quarter , reinforcing its conviction for its long - term strategy and growth investments across its diversified business model . • 39 % 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 represented 12 % of total volume in the third quarter , compared to 9 % a year ago , and grew 39 % year - over - year • Third quarter customer cohort 9 % larger than the second quarter • Take rate of 105 basis points , up from 90 basis points a year ago • $ 5 + billion of customer funds as of September 30 , 2022 • Expanded executive leadership bench with the creation of a Chief Platform Officer role to lead technology , product , and High Value Service teams Updated 2022 Guidance " We are raising our guidance for 2022 , " said Michael Levine , Chief Financial Officer . " We are delivering strong results despite higher inflation , slowing economic growth , and the war in Ukraine . Payoneer is trusted by customers , it's geographically and vertically diversified , and it benefits from rising interest rates . Our outlook on our business in Ukraine also remains consistent at 75 % of our original budget . " " We remain committed to adjusted EBITDA profitability as we continue to invest in our go - to - market efforts , platform development , and efficiency of our operations . We plan to make approximately $ 16 million of non - compensation discretionary investments in the fourth quarter to accelerate market penetration , further strengthen our organization , and focus our growth strategy . " " We plan to moderately expand adjusted EBITDA margins for 2023 while funding our growth initiatives with a portion of our interest income revenue . We will provide full year 2023 guidance when we release fourth quarter and full year 2022 results in