$PSFE details from last ER -- "Total volume was down 25% year-over-year to $4.6 billion while revenue declined by 13% to $95 million from $109 million. This meant adjusted EBITDA declined a material 30% to $38 million from $54 million. The eCash segment was a bright spot with revenue growth of 63% and adjusted EBITDA growth of 110%. This was against revenues for the Integrated Processing segment that was down 5% while adjusted EBITDA was down 19%. Bears would also point that it would be unlikely to repeat the record level of crypto trading during the first quarter. Paysafe stated this was a key driver for incremental revenue growth in the Digital Wallet segment and that it mitigated the revenue decline. Paysafe also pointed to its exit from a number of geographic channels during 2020 as the main reason for the decline in its Wallet segment. Management during their earnings call stated this had at least a $20 million impact on revenue" -- that's why this price tanking is justified
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@Im_Not_Real @Notsostockmaster @ncost1 @three_comma_club That's not entirely true and it ignores the fact that, unlike other fintechs, Paysafe handles sporting events and a lot of brick and mortar that were shut down during Covid. Shift4 revenue growth dropped to 4% during Covid and payment processors like Visa and Mastercard went into negative growth (-9 and -10%). Paysafe is a lot more diversified than most fintechs so simplistic comparisons are meaningless.
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