Payoneer Global (NasdaqGM:PAYO) Q3 2025 Earnings Call November 05, 2025 08:30 AM ET Speaker1Ladies and gentlemen, thank you for standing by. My name is Colby and I'll be your conference operator today. At this time I'd like to welcome you to the Payoneer third quarter 2025 earnings call. All lines have been placed on mute to prevent any background noise and after the speaker's remarks there will be a question and answer session. If you'd like to ask a question at that time, please press Star then the number ...

3Q 2025 Investor Presentation NASDAQ:PAYO | November 5, 2025 Disclaimers This presentation does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation to purchase any security. You should not construe the contents of this presentation as legal, tax, accounting or investment advice or a recommendation. Forward-Looking Statements Certain statements in this presentation may be considered "forward- looking statements" within the meaning of the "safe harbor" provisions of the Uni ...

核心财务表现 - 第二季度GAAP收入2.606亿美元 超出分析师平均预估的2.532亿美元 [1] - GAAP每股收益0.05美元 低于市场预期的0.06美元 [1] - 净利润1950万美元 同比下滑39.8% [2] - 调整后EBITDA为6640万美元 同比下降8.8% [2][7] - 不含利息收入的核心收入达2.023亿美元 同比增长16.4% [2][5] 业务增长驱动 - 交易总额达207亿美元 同比增长11% [5] - 中小企业板块收入同比增长18% 其中B2B业务增长37% 在线市场业务增长8% [6] - Checkout支付解决方案收入同比激增86% [6] - 卡片业务消费额达15亿美元 同比增长25% [6] - 高价值客户群（月交易额超500美元）增至55.9万户 [9] - 单用户平均收入（不含利息）同比增长21% [9] 成本与资本管理 - 总运营费用同比增长19% 其中研发费用增长36% 行政费用增长42% [7] - 加速股票回购 本季度回购3300万美元 较上季1700万美元近乎翻倍 [8] - 董事会批准3亿美元股票回购授权 有效期至2027年 [8] - 期末现金余额4.97亿美元 [8] 战略方向与展望 - 聚焦高价值客户深度经营与合规基础设施投入 [4] - 与万事达续签合作伙伴关系保障卡片业务覆盖 [6] - 2025财年收入指引10.4-10.6亿美元 调整后EBITDA指引2.6-2.75亿美元 [10] - 核心收入（不含利息）预期8.15-8.35亿美元 反映中小企业和B2B业务中双位数增长 [10] - 交易成本率预计稳定在16.5%左右 [10] 风险暴露 - 中美贸易摩擦影响约20%收入（含浮动收益） 潜在不利影响达5000万美元 [10] - 利率环境持续低迷可能继续压制利息收入 [10]