Paysafe on track to meet FY revenue and earnings guidance

FTSE 250 payment solutions provider Paysafe reiterated its guidance on full-year revenue and adjusted earnings on Tuesday.

In a trading update for the period since the half-year results on 10 August, the group said it continues to perform in line with management expectations.

Paysafe said its expectations for revenue and adjusted earnings before interest, taxes, depreciation and amortisation remain unchanged at between $970m and $990m, and $287m and $293m, respectively. This is based on an adjusted EBITDA margin of 29.6%.

President and chief executive officer Joel Leonoff said: “I am delighted to report that we are on track to achieve the upgraded revenue and adjusted EBITDA projections for the current financial year which we set out at the time of our half-year results in August, all while maintaining our focus on further expanding our payments business and enhancing our core technology platform.

“We remain focused on delivering innovative payment solutions that serve the evolving needs of the merchants we work with and look forward to updating the market on our FY 2016 results in early 2017."