Paysafe Group plc (PAYS.L), a provider of digital payments and solutions, has reported its preliminary results for the year ending December 31, 2016 – the group saw an all-time high across key metrics, en route to a successful year-end filing.
Paysafe’s revenues experienced strong growth in 2016, rising to an all-time high of $1.0 billion vs. just $613.4 million in 2015, or 63.0 percent year-over-year. The group’s adjusted EBITDA margin was also on the uptick, climbing to $300.8 million in 2016 from $152.6 million in the year prior – good for a 97.1 percent ascension year-over-year.
Looking at its operating profits, Paysafe also saw a successful year in this metric, which reported $194.4 million in 2016, justifying a growth of 641.9 percent year-over-year from $26.2 million in 2015. This strength extended towards its earnings-per-share (EPS) on a diluted basis, which showed a figure of $0.42 in 2016, up from $0.26 in 2015.
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Paysafe also saw its net debt drop precipitously in 2016, with the figure waning to $279.8 million against $431.3 million in 2015, which represents a decline of -35.1 percent year-over-year.
According to Paysafe’s Chairman Dennis Jones in a statement on the financials: “This is our first full year as Paysafe, and it’s been a year of continuing change, with growth, agility, and risk management at the heart of our business. The management team has not only delivered on the promise of our Skrill acquisition but continued to grow and diversify our capabilities, while delivering an impressive financial performance.”
“We have big ambitions in a sector that is rapidly accelerating. We will continue to invest strategically and have commenced development of our consolidated, comprehensive and scalable payments platform. I am confident in the Group’s ability to retain this positive momentum into 2017 and we are passionate about delivering the products and services to support the changing payment needs of consumers and merchants in an evolving digital economy,” explained President and Chief Executive Officer Joel Leonoff.