Nuvei Posts US$183.9 Million In Revenue For Q3 2021
Nuvei Corporation (TSX: NVEI) announced this morning its Q3 2021 financial results, which saw the company post US$183.9 million in revenue. This is an increase from Q2 2021’s revenue of US$178.2 million and Q3 2020’s revenue of US$93.8 billion.
The e-payment platform saw a dip in its quarterly volume to US$21.6 billion from US$21.9 billion last quarter but an increase from US$11.5 billion last year. For the quarter, 83% of the volume came from e-commerce.
The company recorded US$28.0 million in net income for the quarter, down from last quarter’s US$38.9 million but up from last year’s net loss of US$77.9 million. This translates to US$0.19 earnings per share.
However, adjusted EBITDA for the quarter increased to US$80.9 million from US$79.4 million last quarter and US$41.0 million last year.
The firm ended the quarter with US$288.7 million in cash compared to US$533.7 million at the end of the previous quarter. The balance sheet recorded a total current assets balance of US$942.0 million and a total current liabilities balance of US$731.8 million.
The fintech firm further updated its full-year 2021 financial outlook by narrowing total annual volume guidance to be between US$90 billion and US$91 billion, increasing annual revenue guidance to be between US$717 million and US$723 million, and increasing adjusted EBITDA guidance to be between US$312 million and US$316 million. To date, the company has US$64.1 billion in total volume, US$512.7 million in revenue, and US$225.8 million in adjusted EBITDA.
The company said that the third quarter marked its anniversary on the Toronto Stock Exchange. Consequently in October 2021, it also made its debut on the Nasdaq exchange, raising US$369.4 million in its initial public offering.
Nuvei Corp last traded at $144.75 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
