EVO Paymentsparent company of the Spanish subsidiary UniversalPay and multinational leader in payment solutions, has announced the financial results for the first quarter of the fiscal year. The company has recorded a 20% increase in revenue, totaling $126.9 million compared to $106.2 million a year earlier.
Regardless of currencies, quarterly revenue increased 23%. On a GAAP basis, net profit for the quarter was $5.2 million, compared to a net loss of $2.8 million in the prior year. Adjusted EBITDA increased 18% to $40 million in the quarter and, excluding currencies, Adjusted EBITDA increased 21%.
«I am very pleased with our first quarter results and with the continued acceleration of business that we are showing so far this year.“, said James, G. Kelly, CEO of EVO Payments. «Our strong financial results have been driven by the growth of our banking and technology sales channels in the Americas and Europe. Now we can say that we have more capacity than ever to accelerate the results of our business”.
perspectives
The company expects revenue from the entire year 2022 will range between 550 and 560 million dollarsrepresenting 11% to 13% growth over 2021 results. On a GAAP basis, net income expectations range from $47 million to $54 million, versus $18 million in 2021.
The Adjusted EBITDA outlook is between $202 million and $205 million, reflecting 13% to 15% growth over 2021 Adjusted EBITDA. In addition, Adjusted EBITDA margin is expected to range from 36.6% and 36.7%, reflecting an 80 to 90 basis point expansion over 2021 adjusted EBITDA margin.