Paysafe Results Presentation Deck

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Paysafe

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May 2023

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#1First Quarter 2023 Earnings MAY 16, 2023 Paysafe: ■#2Forward looking statements and non-GAAP financial measures Forward-Looking Statements This presentation includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Paysafe Limited's ("Paysafe," "PSFE" or the "Company") actual results may differ from their expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "anticipate," "appear," "approximate," "believe," "budget," "continue," "could," "estimate," "expect," "forecast," "foresee," "guidance," "intends," "may," "might," "plan," "possible," "potential," "predict," "project," "seek," "should," "would" and variations of such words and similar expressions (or the negative version of such words or expressions) may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include, without limitation, Paysafe's expectations with respect to future performance. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially, and potentially adversely, from those expressed or implied in the forward-looking statements. While the Company believes its assumptions concerning future events are reasonable, a number of factors could cause actual results to differ materially from those projected, including, but not limited to: cyberattacks and security vulnerabilities; complying with and changes in money laundering regulations, financial services regulations, cryptocurrency regulations, consumer and business privacy and data use regulations or other regulations in Bermuda, the UK, Ireland, Switzerland, the United States, Canada and elsewhere; risks related to our focus on specialized and high-risk verticals; geopolitical events and the economic and other impacts of such geopolitical events and the responses of governments around the world; acts of war and terrorism; the effects of global economic uncertainties, including inflationary pressure and rising interest rates, on consumer and business spending; risks associated with foreign currency exchange rate fluctuations; changes in our relationships with banks, payment card networks, issuers and financial institutions; risk related to processing online payments for merchants and customers engaged in the online gambling and foreign exchange trading sectors; risks related to becoming an unwitting party to fraud or be deemed to be handling proceeds of crimes being committed by customers; the effects of chargebacks, merchant insolvency and consumer deposit settlement risk; changes to our continued financial institution sponsorships; failure to hold, safeguard or account accurately for merchant or customer funds; risks related to the availability, integrity and security of internal and external IT transaction processing systems and services; our ability to manage regulatory and litigation risks, and the outcome of legal and regulatory proceedings; failure of third parties to comply with contractual obligations; changes and compliance with payment card network operating rules; substantial and increasingly intense competition worldwide in the global payments industry; risks related to developing and maintaining effective internal controls over financial reporting; managing our growth effectively, including growing our revenue pipeline; any difficulties maintaining a strong and trusted brand; keeping pace with rapid technological developments; risks associated with the significant influence of our principal shareholders; the effect of the COVID-19 pandemic on our business; and other factors included in the "Risk Factors" in our Form 20-F and in other filings we make with the SEC, which are available at https://www.sec.gov. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in their expectations with respect thereto or any change in events, conditions, or circumstances on which any statement is based, except as required by law. Trademarks This presentation may contain trademarks, service marks, trade names and copyrights of other companies, which are the property of their respective owners. Solely for convenience, some of the trademarks, service marks, trade names and copyrights referred to in this presentation may be listed without the TM, SM O or symbols, but Paysafe will assert, to the fullest extent under applicable law, the rights of the applicable owners, if any, to these trademarks, service marks, trade names and copyrights. Statement Regarding Non-GAAP Financial Measures This presentation also contains non-GAAP financial information. Paysafe management believes the presentation of these non-GAAP financial measures, when considered together with the Company's results presented in accordance with GAAP, provide users with useful supplemental information regarding Paysafe's operating performance. Reconciliations of these non-GAAP financial measures to their most directly comparable GAAP measures are set forth in the Appendix. These non-GAAP measures exclude items that are significant in understanding and assessing Paysafe's financial results or position. Therefore, these measures should not be considered in isolation or as alternatives to measures under GAAP. Paysafe: 2#3Summary Q1'23 results +7% total revenue growth YoY CC Merchant Solutions +8% (incl. double-digit e-comm growth) and Digital Wallets +6% CC Organization update • Welcomed Nicole Carroll - Chief Strategy & Innovation Officer Continued to expand sales organization 2023 outlook Maintaining FY outlook - driving growth and margin improvement Paysafe: Volume¹ $34bn +8% YoY Revenue $388m +7% YoY cc²; +5% Adj. EBITDA $108m 27.8% margin Adj. Net Income $33m $0.54 per share CC= constant currency. Note: Adj. EBITDA and Adj Net Income are non-GAAP financial measures. See appendix for reconciliations of non-GAAP measures. (1) Volume excludes embedded wallet-related volumes of $9.6 billion 1Q23 and $4.4 billion 1022. (2) Constant currency growth excludes revenue headwinds of $7.3 million, resulting from movement in foreign exchange rates. (3) Enterprise reflects deals with annual contract value >$100K. ★ Recent Highlights Ranked #3 on J.D. Power U.S. Merchant Services Satisfaction Study North America iGaming launches in 3 new states (OH, MA, WA) with multiple operators 20 multi-product, enterprise³ deals in Q1 3#4Sales transformation focused on new customer acquisition, cross-selling and geographical expansion Paysafe: Cross-Selling Products to Existing Merchants Client vertical: 3 gaming merchants (Europe) Solutions provided: Adding card processing for existing digital wallet clients Paysafe advantage: Trusted partner with strong brand recognition and long- standing relationships Q1 enterprise deal examples Expanding Merchants to New Regions ATFX Client vertical: Forex/multi-asset trading Solutions provided: Expanding to LatAm (digital wallets/SafetyPay) Paysafe advantage: Existing client in Europe; easy expansion to LatAm through a single API Winning New Merchants CRYPTOORANGE Client vertical: Cryptocurrency exchange Solutions provided: Full suite of traditional and alternative payments Paysafe advantage: Higher conversion rates; single API connection; extensive LatAm network#5Returning to growth in classic digital wallet Stability in 3-month active users² classic digital wallet underlying active user trend 1.0m Q1'22 19.6 0.9m Q1'22 Q2'22 21.6 0.9m Growth in avg. transactions per active user (TPA) classic digital wallet TPA, based on 3-month actives Q2'22 Q3'22 22.3 0.9m Q3'22 Q4'22 25.9 Q4'22 0.9m Paysafe:¹ Revenue growth, excluding a $3.4m headwind related to movement in foreign exchange rates. Q1'23 24.9 Q1'23 CC = constant currency. Reflects classic digital wallets (Skrill, NETELLER) and does not reflect the reported segment, which combines classic digital wallets and eCash solutions. Metrics exclude embedded wallet, with the exception of Revenue growth. (2) Underlying 3-month active users exclude war impacted territories (Russia, Ukraine, Belarus) and Nigeria (one-off benefit in prior year). ● Revenue¹ +10%cc Q1 classic digital wallet growth YoY Stability in active user base Double-digit growth in 3-month transactions, TPA and average revenue per active user ● • Continued focus on innovation, customer acquisition and retention to drive active user growth LO 5#6Q1 2023 Financial Results Paysafe: ■#7Q1 revenue exceeds guidance range, Adj. EBITDA in line $millions Revenue Adj. EBITDA Adj. EBITDA margin % Paysafe: (1) Q1'23 guidance range was revenue of $375m - $380m and Adj. EBITDA of $105m - $108m. Q1 Guidance (midpoint¹) $377.5 $106.5 ~28% Q1 Actual $387.8 $107.8 27.8% 7#8● Q1 financial highlights Volume¹ (sbn) $31.2 Q1 2022 +8% $33.8 Q1 2023 Paysafe: Volume mix % (YoY change): 84% Merchant (+150bps) 16% Wallet (-140bps) ● ● Revenue ($m) $367.7 1.2% take rate Q1 2022 +5% +7% CC² $395.2 CC e-commerce $387.8 reported 1.1% take rate Q1 2023 Solid constant currency growth from both segments Strong performance from classic digital wallet and FX headwind ● Adj. EBITDA 2,3 ($m) $104.0 28.3% margin Q1 2022 +4% +5% cc² $109.3 CC $107.8 reported 27.8% margin Q1 2023 FX headwind Margin decline includes higher unallocated/Corp. SG&A (e.g., exec severance) LTM FCF3 ($m) $237.0 +30% $307.9 LTM Mar'22 LTM Mar'23 Note: Volume = total payment volume. Take rate = total revenue divided by volume. CC = constant currency. LTM = last twelve months. (1) Volume excludes embedded wallet-related volumes of $9.6 billion Q1'23 and $4.4 billion Q1'22. Volume mix and change exclude inter-segment amounts. 74% LTM FCF conversion of Adj. EBITDA • ● Adj. Net Income³ ($m) (2) Q1 constant currency growth excludes revenue and Adj. EBITDA headwinds of $7.3 million and $1.5 million, respectively, resulting from movement in foreign exchange rates. (3) Adj. EBITDA, FCF, Adj Net Income and Adj EPS are non-GAAP financial measures. See the appendix of this presentation for reconciliations to the most directly comparable GAAP financial measures. $37.3 $0.62 Adj. EPS Q1 2022 -11% $33.1 $0.54 Adj. EPS Q1 2023 Lower Adj. Net Income mainly reflects higher interest expense GAAP net loss of $3.8m vs. $1.2bn loss Q1'22 (impairment charge prior year) 8#9Merchant Solutions Volume ($bn) $25.9 Q1 2022 Paysafe: +10% $28.6 Q1 2023 Revenue ($m) $192.3 0.74% take rate Q1 2022 +8% $208.5 0.73% take rate Q1 2023 Adj. EBITDA ($m) $48.5 25.2% margin Q1 2022 +8% $52.3 25.1% margin Q1 2023 Note: Movement in foreign exchange rates were immaterial to Merchant Solutions segment growth rates: 1Q'23 currency impact to segment revenue was a headwind of $0.1 million and the impact to Adj. EBITDA was negligible. Volume and revenue reflect double-digit e-comm growth and resiliency in US SMB • YoY comparison includes prior year Omicron impact in Jan '22 9#10Digital Wallets Volume¹ ($bn) $5.4 Q1 2022 Paysafe: flat $5.4 Q1 2023 Revenue² ($m) $177.8 3.3% take rate Q1 2022 +2% +6% CC $188.7 CC $181.4 reported 3.3% take rate Q1 2023 FX headwind Adj. EBITDA² ($m) $74.5 41.9% margin +6% +12% CC Q1 2022 $83.5 CC $79.2 reported 43.7% margin Q1 2023 FX headwind (1) Volume excludes embedded wallet-related volumes of $9.6 billion Q1'23 and $4.4 billion Q1'22. (2) Q1'23 constant currency growth excludes revenue and Adj. EBITDA headwinds of $7.2 million and $4.3 million respectively, resulting from movement in foreign exchange rates. • Performance reflects momentum across growth initiatives (user experience, innovation, and sales transformation) • Growth supported by interest revenue and underlying growth from core verticals incl. digital assets and iGaming 10#11Continued focus on reducing leverage Liquidity position ($m) Committed RCF(¹) 3/31/23 $305 Amounts drawn (37) 222 Cash and cash equivalents Total $490 Facility (as of 3/31/23) ($m) Fixed rate SSN Interest rate swap (notional) Total fixed (excl. digital wallet deposits) Natural hedge from interest earning deposits in digital wallet Total fixed (incl. digital wallet deposits) Total floating Total Debt(¹) Net Debt(¹) Net Debt-to-LTM Adj. EBITDA (²) Paysafe: % total $817 $352 $1,169 ~45% $913 $2,082 $529 $2,611 $2,389 5.8X ~80% ~20% 100% ● ~$50m Q1 net repayments of debt; movement in FX increased debt by ~$15m Avg. interest rate (incl. interest rate swap) at ~5.4% as of Mar-23 (compared to ~3.5% Mar-22) Interest expense: Q2e ~$35-37m Est. year-end net leverage 5.1x to 5.3x (1) Total debt includes the outstanding principal on the Company's borrowings. Total debt definition includes the drawn amounts of a local $75m Credit Facility held in the US outside the Company's Senior Credit Facility. The nature of the facility is to draw on the facility daily and to prefund daily interchange and it acts as a source of working capital. This facility is not considered in total debt for covenant calculation purposes. (2) Net debt-to-LTM Adj. EBITDA is defined as Net Debt (Total Debt less Cash and cash equivalents) divided by the Company's adjusted EBITDA, as defined in the appendix, for the last 12 months and does not represent the definitions of net debt and adjusted EBITDA used for covenant calculation purposes. 11#12Maintaining 2023 guidance $millions Revenue year-over-year growth Adj. EBITDA year-over-year growth Adj. EBITDA margin % Paysafe: 2023 FY Guidance (unchanged) $1,580 - $1,600 6% to 7% $452 - $462 10% to 13% 28.5% to 29% ● Other: - Approximate FX sensitivity: 1% EUR weakening versus USD impacts annual revenue by ($7m) and Adj. EBITDA by ($2m) 12#13Closing 1 FO Leading Payments Provider ✓ Leading mid-tier SMB acquirer ✓ Leading Digital Wallet in Europe ✓ Leading eCash network Paysafe: 2 30 Large, High Growth Verticals with Strong Tailwinds Solid footprint in entertainment verticals driven by innovation ✓ Stronghold in iGaming ✓ Large TAM opportunity 3 5 Scarce and Attractive Two- Sided Network ✓ Powerful network effects ✓ Premier client base with cross-sell opportunities ✓ Integrated end-to-end solutions 4 all Well Positioned for Growth ✓ Re-accelerating top-line growth ✓ Scalable model ✓ Projecting double-digit EBITDA growth 13#14Appendix Paysafe: ■#15Supplemental: summary of segment results Paysafe: Volume ($m) Merchant Solutions Digital Wallets Intersegment Total Take Rate Merchant Solutions Digital Wallets Total Revenue ($m) Merchant Solutions Digital Wallets Intersegment Total Gross Profit, excl. D&A ($m) Merchant Solutions Digital Wallets Total Gross Profit Margin, excl. D&A Merchant Solutions Digital Wallets Total Adj. EBITDA ($m) Merchant Solutions Digital Wallets Corporate Total Adj. EBITDA Margin Merchant Solutions Digital Wallets Total $ $ 25,862 $ 28,392 5,444 5,095 $ $ $ $ $ Q1 $ (137) 31,169 0.7% 3.3% 1.2% 192.3 177.8 (2.5) 367.7 $ 51% 69% 60% 97.4 $ 123.2 220.6 48.5 74.5 (19.1) 104.0 (126) $ 33,361 $ 25% 42% 28% Q2 $ $ 0.7% 3.3% 1.1% 378.9 212.8 $ 168.2 (2.1) 49% 69% 58% $ $ 27,826 $ 28,000 4,786 5,278 (161) (117) 32,495 $ 33,117 26% 41% 27% $ 55.1 $ 69.6 (21.8) $ 103.0 $ 2022 Q3 0.7% 3.4% 1.1% 104.2 $ 115.7 101.2 126.3 219.9 $ 214.2 $ 227.5 97.4 $ 116.8 Q4 203.7 163.0 (0.7) 366.0 $ 383.6 208.5 177.1 (2.1) 48% 72% 59% $ 0.7% 3.4% 1.2% 22% 42% 26% 49% 71% 59% 45.6 $ 51.0 68.1 (18.3) 77.1 (20.6) 95.5 $ 107.6 24% 44% 28% $ 110,080 20,603 (541) $ 130,142 $ FY2022 817.4 686.2 (7.4) $ 1,496.1 $ $ 400.2 482.0 882.1 $ 0.7% 3.3% 1.1% $ 49% 70% 59% 200.3 289.4 (79.8) 410.0 25% 42% 27% $ 28,571 5,443 (196) $ 33,818 $ $ $ $ 2023 Q1 $ 0.7% 3.3% 1.1% 208.5 181.4 (2.1) 387.8 98.7 130.3 228.9 47% 72% 59% 52.3 79.2 (23.7) $ 107.8 25% 44% 28% Note: Q1'22, Q2'22, Q3'22, Q4'22 and Q1'23 volume excludes embedded wallet-related volumes of approximately $4.4 billion, $13.5 billion, $10.4 billion, $9.2 billion and $9.6 billion, respectively. Note: Gross Profit calculated as revenue, less cost of services and depreciation and amortization. Gross profit is not presented within the Company's consolidated financial statements. 15#16Statement regarding non-GAAP financial measures To supplement the Company's condensed consolidated financial statements presented in accordance with generally accepted accounting principles, or GAAP, the company uses non-GAAP measures of certain components of financial performance. This includes Gross Profit (excluding depreciation and amortization), Gross Profit Margin (excluding depreciation and amortization), Adjusted EBITDA, Adjusted EBITDA margin, Free cash flow and Free cash flow conversion, Adjusted net income and Adjusted net income per share, which are supplemental measures that are not required by, or presented in accordance with, accounting principles generally accepted in the United States ("U.S. GAAP"). Gross Profit (excluding depreciation and amortization) is defined as revenue less cost of services (excluding depreciation and amortization). Gross Profit Margin (excluding depreciation and amortization) is defined as Gross Profit (excluding depreciation and amortization) as a percentage of revenue. Management believes Gross Profit to be a useful profitability measure to assess the performance of our businesses and ability to manage cost. Adjusted EBITDA is defined as net income/(loss) before the impact of income tax (benefit)/expense, interest expense, net, depreciation and amortization, share based compensation, impairment expense on goodwill and intangible assets, restructuring and other costs, loss/(gain) on disposal of a subsidiaries and other assets, net, and other income/(expense), net. These adjustments also include certain costs and transaction items that are not reflective of the underlying operating performance of the Company. Adjusted EBITDA margin is defined as Adjusted EBITDA as a percentage of Revenue. Management believes Adjusted EBITDA to be a useful profitability measure to assess the performance of our businesses and improves the comparability of operating results across reporting periods. Adjusted net income excludes the impact of certain non-operational and non-cash items. Adjusted net income is defined as net income/(loss) attributable to the Company before the impact of other non-operating income / (expense), net, impairment expense on goodwill and intangible assets, restructuring and other costs, accelerated amortization of debt fees, amortization of acquired assets, loss/(gain) on disposal of subsidiaries and other assets, share based compensation, discrete tax items and the income tax (benefit)/expense on these non-GAAP adjustments. Adjusted net income per share is adjusted net income as defined above divided by adjusted weighted average dilutive shares outstanding. Management believes the removal of certain non-operational and non-cash items from net income enhances shareholders ability to evaluate the Company's business performance and profitability by improving comparability of operating results across reporting periods. Free cash flow is defined as net cash flows provided by/used in operating activities, adjusted for the impact of capital expenditure, payments relating to restructuring and other costs, cash paid for interest and movements in customer accounts and other restricted cash. Capital expenditure includes purchases of property plant & equipment and purchases of other intangible assets, including software development costs. Capital expenditure does not include purchases of merchant portfolios. Free cash flow conversion is defined as free cash flow as a percentage of Adjusted EBITDA. Management believes free cash flow to be a liquidity measure that provides useful information about the amount of cash generated by the business. Management believes the presentation of these non-GAAP financial measures, when considered together with the Company's results presented in accordance with GAAP, provide users with useful supplemental information in comparing the operating results across reporting periods by excluding items that are not considered indicative of Paysafe's core operating performance. In addition, management believes the presentation of these non-GAAP financial measures provides useful supplemental information in assessing the Company's results on a basis that fosters comparability across periods by excluding the impact on the Company's reported GAAP results of acquisitions and dispositions that have occurred in such periods. However, these non-GAAP measures exclude items that are significant in understanding and assessing Paysafe's financial results or position. Therefore, these measures should not be considered in isolation or as alternatives to revenue, net income, cash flows from operations or other measures of profitability, liquidity or performance under GAAP. You should be aware that Paysafe's presentation of these measures may not be comparable to similarly titled measures used by other companies. In addition, the forward-looking non-GAAP financial measures of Adjusted EBITDA, Free Cash Flow conversion and Gross Profit provided herein have not been reconciled to comparable GAAP measures due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations. We have reconciled the historical non-GAAP financial measures presented herein to their most directly comparable GAAP financial measures. A reconciliation of our forward-looking non-GAAP financial measures to their most directly comparable GAAP financial measures cannot be provided without unreasonable effort because of the inherent difficulty of accurately forecasting the occurrence and financial impact of the adjusting items necessary for such reconciliations that have not yet occurred, are out of our control, or cannot be reasonably predicted. For the same reasons, we are unable to address the probable significance of the unavailable information, which could be material to future results. Paysafe: 16#17Reconciliation of GAAP Net loss to Adj. EBITDA Paysafe: ($ in thousands) Net loss Income tax expense / (benefit) Interest expense, net Depreciation and amortization Share-based compensation expense Impairment expense on goodwill and intangible assets Restructuring and other costs Other income, net Adjusted EBITDA Adjusted EBITDA Margin 2023 Three Months Ended March 31, (3,808) 3,879 37,456 63,547 7,216 82 1,990 (2,547) 107,815 27.8% 2022 (1,170,812) (43,414) 25,956 63,423 13,970 1,205,731 12,591 (3,478) 103,967 28.3% 17#18Reconciliation of GAAP Net loss to Adj. net income ($ in thousands) Net loss attributable to the Company Other non operating income, net (1) Impairment expense on goodwill and intangible assets Amortization of acquired assets (2) Restructuring and other costs Share-based compensation expense Discrete tax items (3) Income tax benefit on non-GAAP adjustments Adjusted net income attributable to the Company (in millions) Weighted average shares - diluted Adjusted diluted impact Adjusted weighted average shares - diluted $ Three Months Ended March 31, 2023 (3,808) S (764) 82 33,673 1,990 7,216 5,479 (10,792) 33,076 $ 61.0 0.4 61.4 2022 (1,171,183) (5,408) 1,205,731 42,266 12,591 13,970 (6,625) (54,081) 37,261 Paysafe: (4): Income tax benefit on non-GAAP adjustments reflects the tax impact of the non-GAAP adjustments to net loss attributable to the Company to calculate adjusted net income. 60.3 0.1 60.4 (1): Other non operating income, net primarily consists of income and expenses outside of the Company's operating activities, including, fair value gain / loss on warrant liabilities and loss on contingent consideration and gain / loss on foreign exchange. For the three months ended March 31, 2023, this item also includes the gain to repurchase secured notes and fair value loss on derivative instruments. (2): Amortization of acquired asset represents amortization expense on the fair value of intangible assets acquired through various Company acquisitions, including brands, customer relationships, software and merchant portfolios. (3): Discrete tax items represents certain amounts within income tax (benefit)/expense, including changes in uncertain tax positions and the remeasurement of certain deferred tax balances due to changes in the statutory tax rates in certain jurisdictions. 18#19Reconciliation of Operating Cash Flow to Free Cash Flow Three Months Ended March 31, Paysafe: ($ in thousands) Net cash (outflows) / inflows from operating activities Capital Expenditure Cash paid for interest Payments relating to Restructuring and other costs Movement in Customer Accounts and other restricted cash Free Cash Flow Adjusted EBITDA Free Cash Flow Conversion ($ in thousands) Net cash (outflows) / inflows from operating activities Capital Expenditure Cash paid for interest Payments relating to Restructuring and other costs Movement in Customer Accounts and other restricted cash Free Cash Flow Adjusted EBITDA Free Cash Flow Conversion 2023 (118,961) $ (30,368) 28,893 23,684 167,027 70,275 107,815 65% Last Twelve Months March 31, 2023 2022 301,269 (103,337) 116,373 61,513 (67,908) 307,910 $ 413,799 74% 503,848 (20,639) 14,754 12,141 (450,882) 59,222 103,967 57% 2022 679,576 (89,076) 69,446 30,421 (453,339) 237,028 434,634 55% 19#20Reconciliation of GAAP Gross Profit to Gross Profit (excl. D&A) Paysafe: ($ in thousands) Revenue Cost of services (excluding depreciation and amortization) Depreciation and amortization Gross Profit (¹) Depreciation and amortization Gross Profit (excluding depreciation and amortization) Three Months Ended March 31, 2023 387,849 158,939 63.547 165,363 S 63.547 228,910 $ 2022 367,668 147,103 63,423 157,142 63,423 220,565 (1): Gross Profit has been calculated as revenue, less cost of services and depreciation and amortization. Gross profit is not presented within the Company's consolidated financial statements. 20#21Adjusted Net Income per Share Paysafe: Numerator ($ in thousands) Adjusted net income attributable to the Company - basic Adjusted net income attributable to the Company - diluted Denominator (in millions) Weighted average shares - basic Adjusted weighted average shares - diluted (1) Adjusted net income per share attributable to the Company Basic Diluted $ $ Three Months Ended March 31, 2023 33,076 $ 33,076 $ 61.0 61.4 0.54 0.54 69 69 $ 2022 (1): The denominator used in the calculation of diluted adjusted net income per share has been adjusted to include the dilutive effect of the Company's restricted stock units. 37,261 37,261 60.3 60.4 0.62 0.62 21#22Supplemental: Adj. EBITDA to Adj. Net Income reconciliation Paysafe: ($ in thousands) Adjusted EBITDA Depreciation and amortisation (¹) Other operating (income) / expense, net (²) Interest expense, net Adjusted tax Non-controlling interest Adjusted Net Income $ $ 2023 Three Months Ended March 31, (1) Excludes the amortization of acquired intangibles. (2) Other operating income mainly relates to payments or receipts under derivative financial instruments and certain banking fees 107,815 29,874 (1,783) 37,456 9,192 33,076 $ 2022 103,967 21,157 1,930 25,956 17,292 371 37,261 22#23Thank you Paysafe: ■

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