EVO Paymentsparent company of the Spanish subsidiary UniversalPay and multinational leader in payment solutions, has announced the financial results for the second quarter of the fiscal year. In total he got $137.7 million, up from $122.2 million a year earlier, an increase of 13%.
Under generally accepted accounting principles in the United States, the net profit for the quarter was 11.3 million dollarscompared to 6.8 million the previous year, which represents a 66% increase. Adjusted EBITDA increased 21% to $51.7 million in the quarter, with the 37.6% margin widening 250 basis points. Excluding currency translation effects, Adjusted EBITDA increased 26%.
A 16% increase in revenue for the first six months of the year
If the first half of the year is analyzed, revenue was $264.6 million, compared to 228.4 million the previous year, which represents a 16% increase.
Based on generally accepted accounting principles, net income was $16.4 million, up from $4 million a year earlier, an increase of 315%. Adjusted EBITDA increased 20% to $91.7 million for the year.
“I am satisfied with the good results obtained this quarter, which are largely due to the growth of our international markets and global technology channels, as we have expanded our networks, signed new commercial agreements and built on existing relationships.“he declared James G. Kelly, CEO of EVO Payments.
Second Quarter Highlights
- The international revenue grew 33% in constant currency and now account for 62% of total revenue.
- Europe revenue up 41% in constant currency and income related to dynamic currency conversion (DCC) increased by 150%as cross-border activity surpassed pre-pandemic levels.
- Latin America revenue increased 18% in constant currency thanks to 18% growth in the merchant portfolio.
- New agreements were signed, expanding the EVO Payments technology reference network to more than 1,700 partners.
- The acquisition of e-commerce technology assets, including online storefront design solutions, CRM capabilities and shopping cart functionality, to provide a comprehensive e-commerce solution for merchants in Latin America.
- The acquisition of North49 Business Solutions, Inc. to establish native integrations with Sage 300 and Sage Intacct solutions, enabling EVO Payments to offer enhanced integrated B2B payment solutions to Sage customers. EVO’s integration suite now includes five native ERP solutions: Microsoft, SAP, Oracle, Acumatica and Sage.
- Adjusted net earnings per share increased 43% compared to last year, reaching $0.30 per share.
