Paysafe reports $1.48bn in revenue for 2021
The company also reflected a lower net loss during the year in its financial report.
Paysafe has released its full-year and Q4 results for 2021. The company reported a total revenue of more than $1.48bn for the year, up by 4% from last year’s figures.
During 2021, net loss was $111m, a slight decrease from the $126.7m net loss the company had the year before.
Adjusted EBITDA increased by 4% to $443.9m for the full year. The adjusted EBITDA margin was 29.9%, a small bump from the prior year.
Net cash from operating activities was $224.5m for the year, compared to $409.1m in net cash last year. The company’s free cash flow was $286.3m, compared to last year’s $356.3m.
Paysafe’s Q4 report contained good news for the company as well. Total revenue during the fourth quarter reached $371.7m, reflecting a slight increase from the previous year’s period.
The company saw a large income boost during the fourth quarter, reporting $90.3m in net income compared to the prior year’s net loss of $3.4m.
Adjusted EBITDA was $105.5m, rising by 11% from the prior year’s Q4. The adjusted EBITDA margin rose to 28.4%, almost three percentage points higher than the previous year’s last quarter.
“We are pleased with our fourth quarter results which exceeded our revised guidance for revenue and adjusted EBITDA. We saw continued strong performance from US Acquiring and the turnaround of our digital wallet business is well underway with the actions we’ve taken driving positive results, repositioning the business for success, and enabling us to absorb market risks in Europe,” said Philip McHugh, CEO of Paysafe.
“We continue to win and pursue competitive deals with some of the most disruptive companies in high growth verticals, such as North America iGaming and crypto, and our teams remain extremely focused on delivering on our commitments, positioning Paysafe for strong future growth.”
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