Nuvei Corporation releases its Q2 financials; total volume increase 68%

August 9, 2023
Leer en Español

Nuvei chair said, 'Nuvei delivered solid second quarter results with total volume and revenue increasing 68% and 45%, respectively.'

The Canadian fintech company Nuvei has reported its financial results for the three and six months that ended June 30 2023.

For the three months that ended on June 30, 2023, Nuvei saw its total volume increase 68% from $30.1bn to $50.6bn while its total volume growth at constant currency was 67%. During that time, ecommerce represented 88% of Nuvei’s total volume.

Also during that period, Nuvei’s revenue increased 45% from $211.3m to $307m. The company's adjusted EBITDA increased by 19% from $92.9m to $110.3m.

For the six months that ended on June 30, 2023, Nuvei saw its total volume increase 57% from $59.3bn to $93bn. During that time, ecommerce represented 89% of the total volume.

Also during that time, Nuvei’s revenue increased 32% from $425.8m to $563.5m. However, net income did decrease from $39.6m to $3.3m. Adjusted EBITDA for that period increased by 12% from $184.4m to $206.6m.

Philip Fayer, Nuvei Chair and CEO, said, “Nuvei delivered solid second-quarter results with total volume and revenue increasing 68% and 45%, respectively, as we continued to advance our strategic initiatives and scale our platform.

"The quarter was notable for the number of new customer wins and growing pipeline across all regions, as well as wallet share expansion opportunities with existing customers, underscoring momentum in the business and laying the foundation for sustainable long-term growth."


Product Spotlight

Bragg Gaming Group

Bragg Gaming Group is a global content-driven iGaming technology provider, serving online and land-based gaming operators with its proprietary and exclusive content and cutting-edge technology.

John Connelly - Interblock preparing to launch online by the end of year

John Connelly, the Global CEO of Interblock, joins the Huddle to talk about:
- The company's conversion to the online space
- The performance of ETGs
- Interblock's new philanthropic efforts
- The trend of companies going private
- And more!

Michael Hershman - Dispelling casino 'myths:' New York needs to lose fear of the unknown

Michael Hershman, CEO of the Soloviev Group, joins Tim Poole on the Huddle to put forward his case that the Freedom Plaza is the way to go for one of New York's casino licences. He fields a variety of questions - not shying away from any of them - on why 'myths' about casinos and a fear of the unknown should be dispelled, as well as acknowledging the strength of rival bids and discussing opposition to the project.

As the Tribal gaming sector congregates once more in the Golden State, is it too cliché of me to suggest we are heading for a golden era of Tribal gaming? With the industry set to meet at the Indian Gaming Association t...

From The Top: Will youth be served by Sports Betting?
Two recent interviews in our Huddle podcast revealed to Las Vegas correspondent Brian Joseph just how young sports betting entrepreneurs are becoming.
The Global Gaming Awards: Rewarding Excellence
The 10th edition of the Global Gaming Awards took place in Las Vegas last year. Gaming America looks back... and ahead to this year's.
Preview: Indian Gaming Tradeshow & Convention
Gaming America looks ahead to the 2024 Indian Gaming Tradeshow & Convention and what attendees can expect when they arrive at the Anaheim Convention Centre.
888 and the US Market: A cautionary tale
Gaming America explores the risk of resting on your laurels and the challenge of remaining relevant in a rapidly expanding market.