Payoneer Global 2022 guidance excludes Russia, Belarus, Ukraine revenue

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• Payoneer Global (NASDAQ:PAYO) stock is dropping 5.2% in after-hours trading after the company's 2022 revenue guidance, reflecting the potential impact of the Ukraine war, trailed the consensus estimate.
• The payment tech firm expects 2022 revenue of $530M-$540M vs. Visible Alpha consensus of $561.6M.
• "Russia and Belarus combined represent approximately 3% of our revenues, and together with Ukraine were slightly less than 10% of revenue in 2021," said Chief Financial Officer Michael Levine. "For the remaining ten months of the year, we had projected these countries would generate approximately $46M of revenue, which we are now excluding from our guidance."
• The company expects the rest of its global business to increase 22%-24% in 2022.
• He added that its guidance for 2022 adjusted EBITDA of -$25M to -$35M is intended to reflect a "downside outcome based on the full impact to our current unrevised investment plans."
• Q4 revenue of $139.2M beat the $126.3M consensus and jumped 47% from the year-ago quarter.
• Adjusted EBITDA of $18.9M swung from -$0.8M a year earlier. GAAP EPS of -$0.06 missed the consensus of -$0.02 and narrowed from -$0.29 in Q4 2020.
• Earlier, Payoneer Global (PAYO) GAAP EPS of -$0.06 misses by $0.04, revenue of $139.22 beats by $12.93M

Comments

[Shangrila Value]

That's the kind of countries Payoneer is working with...