Payoneer Global Inc.

Listed Company

PAYOCIK 0001845815NasdaqLarge AcceleratedServices-Business Services, NecDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.05B

Net Income

$73.19M

Total Assets

$8.96B

Equity

$704.43M

Shares Out

344.77M

Op. Cash Flow

$233.49M

Business

Payoneer Global Inc. is a financial technology company that enables small and medium-sized businesses to access and operate in the global digital economy by providing cross-border payment and financial infrastructure. It offers a suite of services including multi-currency Payoneer Accounts, billing and accounts receivable and payable solutions, physical and virtual cards, Checkout for webstores, working capital, global workforce and payroll services, and enterprise payout capabilities. The business is organized around its proprietary technology and regulated subsidiary network, supported by compliance, risk management and regional sales and support teams. Payoneer distributes its products through a global network of banking and payment partners, marketplace and platform integrations, partnerships, direct sales, and digital channels.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	1,053	978	831	628	473
Transaction costs	165	152	122	110	101
Other operating expenses	165	170	161	149	125
Research and development expenses	155	135	119	115	81
Sales and marketing expenses	235	212	197	165	114
General and administrative expenses	141	113	101	90	64
Depreciation and amortization	66	47	28	21	18
Total operating expenses	928	829	727	650	504
Operating income	125	149	104	−22	−30
Gain from change in fair value of Warrants	—	3	17	34	12
Loss on Warrant repurchase/redemption	—	−15	—	—	—
Other financial income (expense), net	−9	2	12	−10	−7
Financial income (expense), net	−9	−10	29	24	5
Income before income taxes	116	139	133	2	−25
Income taxes	42	18	39	14	9
Net income	73	121	93	−12	−34
Unrealized gain (loss) on available-for-sale debt securities, net	12	−412,000	—	—	—
Tax (expense) benefit on unrealized gain (loss) on available-for-sale debt securities, net	−3	90,000	—	—	—
Unrealized gain on cash flow hedges, net	2	1	—	—	—
Tax expense on unrealized gain on cash flow hedges, net	−323,000	−233,000	—	—	—
Unrealized loss on interest rate floor, net	−4	−17	—	—	—
Tax benefit on unrealized loss on interest rate floor, net	1	4	—	—	—
Foreign currency translation adjustments	−613,000	−66,000	—	−2	−2
Other comprehensive income (loss)	6	−12	0	−2	−2
Comprehensive income	80	109	93	−14	−36
Net income per share attributable to common stockholders - Basic earnings per share (in dollars per share)	0.2	0.34	0.26	−0.03	−0.33
- Diluted earnings per share (in dollars per share)	0.19	0.31	0.24	−0.03	−0.33
Weighted average common shares outstanding - Basic (in shares)	361	358	362	348	203
Weighted average common shares outstanding - Diluted (in shares)	377	386	393	348	203

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	416	497	617	543	466
Restricted cash	6	7	7	3	3
Customer funds	7,545	6,439	6,391	5,839	4,401
Accounts receivable (net of allowance of $501 in 2025 and $382 in 2024)	10	12	8	13	14
Capital advance receivables (net of allowance of $3,953 in 2025 and $4,955 in 2024)	44	56	45	37	54
Other current assets	91	88	41	36	25
Total current assets	8,111	7,100	7,109	6,471	4,963
Property, equipment and software, net	32	16	15	14	12
Goodwill	78	78	20	20	21
Intangible assets, net	208	102	76	45	38
Customer funds	350	525	—	—	—
Restricted cash	24	18	6	5	5
Deferred taxes, net	57	42	15	4	5
Severance pay fund	856,000	757,000	840,000	1	2
Operating lease right-of-use assets	62	19	25	15	13
Other assets	34	30	16	12	14
Total assets	8,957	7,930	7,283	6,595	5,079
Trade payables	45	37	34	42	17
Outstanding operating balances	7,895	6,964	6,391	5,839	4,401
Other payables	145	130	118	97	79
Total current liabilities	8,084	7,131	6,542	5,978	4,498
Deferred taxes, net	25	1	—	—	—
Other long-term liabilities	143	73	50	30	20
Total liabilities	8,252	7,206	6,619	6,049	4,592
Commitments and contingencies (Note 18)	—	—	—	—	—
Preferred stock, $0.01 par value, 380,000,000 shares authorized; no shares were issued and outstanding at December 31, 2025 and December 31, 2024.	—	—	—	—	—
Common stock, $0.01 par value, 3,800,000,000 and 3,800,000,000 shares authorized; 411,826,086 and 395,965,588 shares issued and 348,704,315 and 360,093,249 shares outstanding at December 31, 2025 and December 31, 2024, respectively.	4	4	4	4	3
Treasury stock at cost, 63,121,771 and 35,872,339 shares at December 31, 2025 and December 31, 2024, respectively.	−369	−194	−57	—	—
Additional paid-in capital	896	821	733	650	575
Accumulated other comprehensive loss	−6	−13	−176,000	−176,000	2
Retained earnings	179	106	−15	−109	−94
Total shareholders' equity	704	725	664	545	487
Total liabilities and shareholders' equity	8,957	7,930	7,283	6,595	5,079

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Deferred taxes	−17	−23	−11	731,000	−1
Stock-based compensation expenses	73	65	66	52	37
Interest on certificate of deposits	−13	−11	—	—	—
Interest and amortization of discount on investments	1	−9	—	—	—
Foreign currency re-measurement (gain) loss	−5	4	−4	3	1
Other current assets	4	−43	−4	−11	−15
Trade payables	8	1	−8	24	469,000
Deferred revenue	1	2	1	224,000	−432,000
Accounts receivable, net	2	337,000	5	964,000	4
Capital advance extended to customers	−313	−330	−299	−224	−331
Capital advance collected from customers	326	319	291	238	343
Other payables	−797,000	4	14	17	691,000
Other long-term liabilities	18	6	232,000	−3	−5
Operating lease right-of-use assets	11	14	10	11	10
Other assets	540,000	−3	−4	2	−1
Net cash provided by operating activities	233	177	159	84	20
Purchase of property, equipment and software	−27	−8	−8	−11	−7
Capitalization of internal use software	−61	−52	−39	−18	−14
Related party asset acquisition	—	—	−4	—	—
Severance pay fund distributions, net	−99,000	83,000	255,000	628,000	−99,000
Customer funds in transit, net	−39	−51	930,000	34	31
Investments in interest rate derivatives	−16	−35	—	—	—
Purchases of investments in available-for-sale debt securities	−446	−1,444	—	—	—
Maturities of investments in available-for-sale debt securities	329	277	—	—	—
Purchases of investments in term deposits	—	−600	—	—	—
Maturities of investments in term deposits	75	—	—	—	—
Cash paid in connection with acquisition, net of cash and customer funds acquired (Refer to Note 3 for further information)	−33	−48	—	—	—
Net cash inflow from acquisition of remaining interest in joint venture	—	—	6	—	—
Net cash used in investing activities	−218	−1,961	−44	6	10
Proceeds from issuance of common stock in connection with stock-based compensation plan, net of taxes paid related to settlement of equity awards and proceeds from employee equity transactions to be remitted to employees	714,000	21	13	—	—
Outstanding operating balances, net	908	564	552	1,437	1,055
Borrowings under related party facility	—	15	27	29	17
Repayments under related party facility	—	−34	−25	−27	−4
Receipts of collateral on interest rate derivatives	126	38	—	—	—
Payments of collateral on interest rate derivatives	−118	−19	—	—	—
Consideration related to previous acquisitions	−4	—	—	—	—
Warrant repurchase/redemption (Refer to Note 17 for further information)	—	−20	—	—	—
Payment on exercise of warrants	−1	—	—	—	—
Common stock repurchased	−174	−138	−55	—	—
Net cash provided by financing activities	738	428	512	1,461	1,396
Effect of exchange rate changes on cash and cash equivalents	5	−4	4	−3	−1
Net change in cash, cash equivalents, restricted cash and customer funds	758	−1,360	632	1,548	1,425
Cash interest paid	—	1	2	1	2
Property, equipment, and software acquired but not paid	453,000	2	810,000	109,000	20,000
Internal use software capitalized but not paid	8	7	10	4	2
Right-of-use assets obtained in exchange for new operating lease liabilities	51	9	20	13	3
Common stock repurchased but not paid, net of excise tax	2	775,000	2	—	—

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