{"success":true,"data":{"pressRelease":{"id":"25380","rtpr_id":"nPn4M1zDLa","ticker":"PAYO","exchange":"NASDAQ","all_tickers":["PAYO"],"title":"Payoneer Reports First Quarter 2026 Financial Results","author":"PR Newswire","published_at":"2026-05-07T11:30:07.431Z","article_body":"Payoneer Reports First Quarter 2026 Financial Results\n\nPR Newswire\n\nNEW YORK, May 7, 2026\n\n11% increase in revenue ex. interest and strong profitability\n\n44% B2B volume growth reflects acceleration across every major region\n\nIncreases 2026 guidance\n\nNEW YORK, May 7, 2026 /PRNewswire/ -- Payoneer Global Inc. (\"Payoneer\" or the\n\"Company\") (NASDAQ: PAYO), the global financial technology company powering\nbusiness growth across borders, today reported financial results for its first\nquarter ended March 31, 2026.\n\n(https://mma.prnewswire.com/media/2748009/Payoneer_Logo.html)\n\nFirst Quarter 2026 Financial Highlights\n\n ($ in mm unless otherwise noted) 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 YoY Change\n Revenue ex. interest income $188.6 $202.3 $211.4 $218.9 $210.1 11 %\n Interest income 58.0 58.3 59.5 55.8 51.5 (11) %\n Revenue $246.6 $260.6 $270.9 $274.7 $261.6 6 %\n Transaction costs as a % of revenue 16.0 % 15.6 % 15.7 % 15.6 % 13.5 % (250) bps\n Net income $20.6 $19.5 $14.1 $19.0 $19.6 (5) %\n Adjusted EBITDA 65.4 66.4 71.3 68.5 69.4 6 %\n Adjusted EBITDA ex. interest income 7.5 8.1 11.7 12.8 17.9 140 %\n\n Operational Metrics\n Volume ($bn) $19.7 $20.7 $22.3 $24.8 $22.8 16 %\n Average Revenue Per User (ARPU)(1) $ 439 $ 452 $ 471 $ 488 $513 17 %\n Revenue as a % of volume (\"Take Rate\") 125 bps 126 bps 121 bps 111 bps 115 bps (10) bps\n SMB customer take rate(2) 119 bps 120 bps 121 bps 113 bps 120 bps 1 bp\n\n 1. Please refer to \"Additional Information and Definitions\" for a description of\n ARPU.\n 2. SMB customer take rate represents revenue from SMBs who sell on marketplaces,\n B2B SMBs, and Checkout (previously known as Merchant Services), divided by the\n associated volume from each respective channel.\n\n\"In Q1 we delivered acceleration across major KPIs: revenue growth ex.\ninterest accelerated to 11%, B2B volume growth more than doubled to 44%, and\nwe delivered another quarter of significant core profitability expansion. We\nare driving broad-based momentum across our business, supported by\ndifferentiated assets that compound as we scale. We have infrastructure built\non years of investment and innovation, network effects that strengthen as\nvolumes grow, and platform depth that allows us to meet the needs of how our\ncustomers operate globally.\n\nWe're a profitable, scaled platform in a multi-trillion-dollar B2B market\nthat's still in the early innings of digitization, and our strong Q1 results\ndemonstrate we're capturing share. We are executing consistently, moving fast\nwhere we see opportunities, and building a business that's not just larger,\nbut structurally more valuable, with deeper strategic advantages and stronger\ncustomer relationships.\"\n\nJohn Caplan, Chief Executive Officer\n\nFirst Quarter 2026 Business Highlights (unless otherwise noted)\n\n * Revenue excluding interest income grew 11% year-over-year, driven by 16%\nvolume growth led by a significant acceleration in B2B.\n * SMB customer revenue of $189 million grew 12% year-over-year, reflecting:\n* SMBs that sell on marketplaces revenue of $115 million, up 4%\nyear-over-year.\n * B2B SMBs revenue of $64 million, up 23% year-over-year.\n * Checkout revenue of $10 million, up 46% year-over-year.\n * B2B volume growth accelerated significantly to 44% year-over-year driven by\nstrong growth in China, EMEA and APAC.\n * Strong enterprise payouts momentum continued with 28% year-over-year volume\ngrowth.\n * 17% growth in ARPU, and 22% growth in ARPU excluding interest income, the\nseventh consecutive quarter of 20%+ growth in ARPU excluding interest income.\n * 1bp of SMB customer take rate expansion driven by mix shift towards higher\nyield products and services and the impact of our fee and monetization\ninitiatives.\n * $7.6 billion of customer funds (including both short-term and long-term funds)\nas of March 31, 2026. Customer funds growth of 15% year-over-year partially\noffset the impact of lower interest rates on year-over-year interest income.\n * Significant year-over-year increase in share repurchases, with $74 million in\nthe first quarter at a weighted average price of $5.16, vs $17 million in Q1\n2025.\n * Announced a strategic collaboration with FundPark, a fintech that provides\nfinancing solutions that help e-commerce businesses in Hong Kong accelerate\ntheir global business expansion.\n2026 Outlook\n\n\"We begin 2026 with strong momentum. Revenue ex. interest is accelerating,\nrobust growth in our B2B franchise is driving SMB take rate expansion,\nexecution against our upmarket strategy is gaining traction and contributed to\na seventh consecutive quarter of 20%+ growth in ARPU ex. interest, and core\nbusiness profitability increased substantially. We're unlocking significant\noperating leverage while making meaningful investments, including\nin stablecoin and agentic AI, that we believe will support our durable,\nprofitable growth.\n\nWe are increasing our full year 2026 guidance, reflecting $900-$940 million in\nrevenue ex. interest and $200 million in interest income. We expect adjusted\nEBITDA(1 )of $285-$295 million. Our business fundamentals are strong, our\nstrategic initiatives are working, and we're well-positioned to capitalize on\nthe significant opportunity ahead of us.\"\n\nBea Ordonez, Chief Financial Officer\n\n2026 guidance is as follows:\n\n Revenue $1,100 million - $1,140 million\n Transaction costs ~15.0% of revenue\n Adjusted EBITDA(1) $285 million to $295 million\n\n 1. The Company cannot reconcile its expected adjusted EBITDA to expected net\n income under \"2026 Guidance\" without unreasonable effort because certain items\n that impact net income and other reconciling metrics are out of the Company's\n control and/or cannot be reasonably predicted at this time, including income\n taxes and other financial (income) expense, net. Such unavailable information\n could have a significant impact on the Company's GAAP financial results.\n Please refer to \"Financial Information; Non-GAAP Financial Measures\" below for\n a description of the calculation of adjusted EBITDA.\n\nWebcast\n\nPayoneer will host a live webcast of its earnings on a conference call with\nthe investment community beginning at 8:30 a.m. ET today, May 7, 2026. To\naccess the webcast, go to the investor relations section of the Company's\nwebsite at https://investor.payoneer.com (https://investor.payoneer.com) . A\nreplay will be available on the investor relations website following the call.\n\nAbout Payoneer\n\nPayoneer is the financial platform for cross-border business and global\npayments. Payoneer empowers millions of businesses with the financial tools\nand services they need to grow and transact globally with confidence. We make\nit easier for SMBs, particularly in emerging markets, to connect to the global\neconomy, pay and get paid across borders, manage their funds across multiple\ncurrencies, and grow their businesses.\n\nForward-Looking Statements\n\nThis press release includes, and oral statements made from time to time by\nrepresentatives of Payoneer, may be considered \"forward-looking statements\"\nwithin the meaning of the \"safe harbor\" provisions of the United States\nPrivate Securities Litigation Reform Act of 1995. Forward-looking statements\ngenerally relate to future events or Payoneer's future financial or operating\nperformance. For example, projections of future revenue, transaction costs and\nadjusted EBITDA are forward-looking statements. In some cases, you can\nidentify forward-looking statements by terminology such as \"may,\" \"should,\"\n\"expect,\" \"intend,\" \"plan,\" \"will,\" \"estimate,\" \"anticipate,\" \"believe,\"\n\"predict,\" \"potential\" or \"continue,\" or the negatives of these terms or\nvariations of them or similar terminology. Such forward-looking statements are\nsubject to risks, uncertainties, and other factors which could cause actual\nresults to differ materially from those expressed or implied by such forward\nlooking statements. These forward-looking statements are based upon estimates\nand assumptions that, while considered reasonable by Payoneer and its\nmanagement, as the case may be, are inherently uncertain. Factors that may\ncause actual results to differ materially from current expectations include,\nbut are not limited to: (1) changes in applicable laws or regulations; (2) the\npossibility that Payoneer may be adversely affected by geopolitical events and\nconflicts, such as Israel's and the United States' conflicts in the Middle\nEast, and other economic, business and/or competitive factors, such as changes\nin global trade policies (including the imposition of tariffs); (3) changes in\nthe assumptions underlying our financial estimates; (4) the outcome of any\nknown and/or unknown legal or regulatory proceedings; and (5) other risks and\nuncertainties set forth in Payoneer's Annual Report on Form 10-K for the\nperiod ended December 31, 2025 and future reports that Payoneer may file with\nthe SEC from time to time. Nothing in this press release should be regarded as\na representation by any person that the forward-looking statements set forth\nherein will be achieved or that any of the contemplated results of such\nforward-looking statements will be achieved. You should not place undue\nreliance on forward-looking statements, which speak only as of the date they\nare made. Payoneer does not undertake any duty to update these forward-looking\nstatements.\n\nFinancial Information; Non-GAAP Financial Measures\n\nSome of the financial information and data contained in this press release,\nsuch as adjusted EBITDA, have not been prepared in accordance with United\nStates generally accepted accounting principles (\"GAAP\"). Payoneer uses\ncertain non-GAAP measures to compare Payoneer's performance to that of prior\nperiods for budgeting and planning purposes. Payoneer believes these non-GAAP\nmeasures of financial results provide useful information to management and\ninvestors regarding certain financial and business trends relating to\nPayoneer's results of operations. Payoneer's method of determining these\nnon-GAAP measures may be different from other companies' methods and,\ntherefore, may not be comparable to those used by other companies and Payoneer\ndoes not recommend the sole use of these non-GAAP measures to assess its\nfinancial performance. Payoneer management does not consider these non-GAAP\nmeasures in isolation or as an alternative to financial measures determined in\naccordance with GAAP. The principal limitation of these non-GAAP financial\nmeasures is that they exclude significant expenses and income that are\nrequired by GAAP to be recorded in Payoneer's financial statements. In\naddition, they are subject to inherent limitations as they reflect the\nexercise of judgments by management about which expense and income are\nexcluded or included in determining these non-GAAP financial measures. In\norder to compensate for these limitations, management presents non-GAAP\nfinancial measures in connection with GAAP results. You should review\nPayoneer's financial statements, which are included in Payoneer's Annual\nReport on Form 10-K for the year ended December 31, 2025 and its subsequent\nQuarterly Reports on Form 10-Q, and not rely on any single financial measure\nto evaluate Payoneer's business.\n\nNon-GAAP measures include the following items:\n\nAdjusted EBITDA: We provide adjusted EBITDA, a non-GAAP financial measure that\nrepresents our net income (loss) adjusted to exclude, as applicable: M&A\nrelated expense (income), stock-based compensation expenses, restructuring\ncharges, loss (gain) from change in fair value of warrants and warrant\nrepurchase/redemption, other financial expense (income), net, income taxes,\nand depreciation and amortization.\n\nAdjusted EBITDA ex. Interest: represents Adjusted EBITDA excluding interest\nincome.\n\nOther companies may calculate the above measure differently, and therefore\nPayoneer's measures may not be directly comparable to similarly titled\nmeasures of other companies.\n\nAdditional Information and Definitions\n\nIn this earnings release, we reference volume, which is an operational metric.\nVolume refers to the total dollar value of transactions successfully completed\nor enabled by our platform, not including orchestration transactions. For a\ncustomer that both receives and later sends payments, we count the volume only\nonce. Note: orchestration transactions ceased in 2024 and were related to our\n2020 acquisition of optile GmbH.\n\nWe also reference ARPU (Average Revenue Per User), which is defined as the\nRevenue from Active Customers divided by the number of Active Customers over\nthe period in which the Revenue was earned. Active Customers for these\npurposes are defined as Payoneer accountholders with at least 1 financial\ntransaction over the period. Revenue from Active Customers represents revenue\nattributed to Active Customers based on their use of the Payoneer platform,\nincluding interest income earned from their balances, and excluding revenues\nunrelated to their activities.\n\nInvestor Contact:\nMichelle Wang\ninvestor@payoneer.com (mailto:investor@payoneer.com)\n\nMedia Contact:\nAngela Sullivan\nPR@payoneer.com (mailto:PR@payoneer.com)\n TABLE - 1\n\nPAYONEER GLOBAL INC.\n\nCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)\n\n(U.S. dollars in thousands, except share and per share data)\n\n (Unaudited)\n Three months ended\n March 31,\n 2026 2025\n\n Revenues $ 261,595 $ 246,617\n\n Transaction costs 35,202 39,349\n Other operating expenses 40,011 41,658\n Research and development expenses 43,326 37,271\n Sales and marketing expenses 58,112 54,726\n General and administrative expenses 36,007 29,904\n Depreciation and amortization 18,916 14,390\n Total operating expenses 231,574 217,298\n\n Operating income 30,021 29,319\n\n Financial expense:\n Other financial expense, net 812 1,550\n Financial expense, net 812 1,550\n\n Income before income taxes 29,209 27,769\n\n Income taxes 9,641 7,192\n\n Net income $ 19,568 $ 20,577\n\n Other comprehensive income (loss)\n Unrealized gain (loss) on available-for-sale debt securities, net (8,351) 7,239\n Tax benefit (expense) on unrealized gain (loss) on available-for-sale debt 1,902 (1,605)\n securities, net\n Unrealized loss on cash flow hedges, net (2,284) (1,787)\n Tax benefit on unrealized loss on cash flow hedges, net 446 327\n Unrealized gain on interest rate floor, net 2,154 6,021\n Tax expense on unrealized gain on interest rate floor, net (613) (1,276)\n Foreign currency translation adjustments (111) (169)\n Other comprehensive income (loss) (6,857) 8,750\n\n Comprehensive income $ 12,711 $ 29,327\n\n Per Share Data\n Net income per share attributable to common stockholders — Basic earnings $ 0.06 $ 0.06\n per\n share\n — Diluted earnings per share $ 0.06 $ 0.05\n\n Weighted average common shares outstanding — Basic 345,342,308 362,979,571\n Weighted average common shares outstanding — Diluted 350,470,788 382,215,129\n\nDisaggregation of revenue\n\nThe following table presents revenue recognized from contracts with customers\nas well as revenue from other sources:\n (Unaudited)\n Three months ended\n March 31,\n 2026 2025\n Revenue recognized at a point in time $ 206,899 $ 185,333\n Revenue recognized over time 1,152 930\n Revenue from contracts with customers $ 208,051 $ 186,263\n Interest income on customer balances $ 51,537 $ 57,972\n Capital advance income 2,007 2,382\n Revenue from other sources $ 53,544 $ 60,354\n Total revenues $ 261,595 $ 246,617\n\nThe following table presents the Company's revenue disaggregated by primary\nregional market, with revenues being attributed to the country (in the region)\nin which the billing address of the transacting customer is located, with the\nexception of global bank transfer revenues, where revenues are disaggregated\nbased on the billing address of the transaction funds source.\n (Unaudited)\n Three months ended\n March 31,\n 2026 2025\n Primary regional markets\n Greater China((1)) $ 86,616 $ 84,896\n Europe, Middle East, and Africa((2)) 64,751 58,893\n Asia-Pacific((2)) 58,185 51,260\n Latin America((2)) 26,047 27,873\n North America((3)) 25,996 23,695\n Total revenues $ 261,595 $ 246,617\n\n 1. Greater China is inclusive of mainland China, Hong Kong, Macao and Taiwan.\n 2. No single country included in any of these regions generated more than 10% of\n total revenue.\n 3. The United States is the Company's country of domicile. Of North America\n revenues, the U.S. represents $25,123 and $22,624 during the three months\n ended March 31, 2026 and 2025\n\n \n TABLE - 2\n\nPAYONEER GLOBAL INC.\n\nRECONCILIATION OF NET INCOME TO ADJUSTED EBITDA (UNAUDITED)\n\n(U.S. dollars in thousands)\n\n Three months ended\n March 31,\n 2026 2025\n Net income $ 19,568 $ 20,577\n Depreciation and amortization 18,916 14,390\n Income taxes 9,641 7,192\n Other financial expense, net 812 1,550\n EBITDA 48,937 43,709\n Stock based compensation expenses((1)) 18,524 18,755\n M&A related expenses((2)) 478 337\n Restructuring charges((3)) 1,509 2,630\n Adjusted EBITDA $ 69,448 $ 65,431\n\n Three months ended,\n Mar. 31, 2025 June 30, 2025 Sept. 30, 2025 Dec. 31, 2025 Mar. 31, 2026\n Net income $ 20,577 $ 19,480 $ 14,123 $ 19,012 $ 19,568\n Depreciation and amortization 14,390 15,553 16,140 19,542 18,916\n Income taxes 7,192 10,370 16,388 8,446 9,641\n Other financial expense, net 1,550 227 5,836 1,466 812\n EBITDA 43,709 45,630 52,487 48,466 48,937\n Stock based compensation expenses((1)) 18,755 20,059 17,799 16,491 18,524\n M&A related expenses((2)) 337 736 981 1,339 478\n Restructuring charges((3)) 2,630 — — 2,243 1,509\n Adjusted EBITDA $ 65,431 $ 66,425 $ 71,267 $ 68,539 $ 69,448\n\n 1. Represents non-cash charges associated with stock-based compensation expense,\n which has been, and will continue to be for the foreseeable future, a\n significant recurring expense in our business and an important part of our\n compensation strategy.\n 2. Amounts relate to M&A-related third-party fees, including related legal,\n consulting and other expenditures. For the three months ended March 31, 2026,\n $0.5 million of these expenses related to the acquisition of Boundless and the\n non-recurring fair value adjustment of the Skuad contingent consideration\n liability discussed in Note 3 to our condensed consolidated financial\n statements included elsewhere within this Quarterly Report on Form 10-Q.\n Amounts for the three months ended March 31, 2025 include $0.3 million in\n non-recurring fair value adjustment of the Skuad contingent consideration\n liability discussed in Note 3 to our condensed consolidated financial\n statements included elsewhere within this Quarterly Report on Form 10-Q.\n 3. Represents non-recurring costs related to severance and other employee\n termination benefits.\n\n \n TABLE - 3\n\nPAYONEER GLOBAL INC.\n\nEARNINGS PER SHARE\n\n(U.S. dollars in thousands, except share and per share data)\n\n (Unaudited)\n Three months ended March 31,\n 2026 2025\n Numerator:\n Net income $ 19,568 $ 20,577\n Denominator:\n Weighted average common shares outstanding —\n Basic 345,342,308 362,979,571\n Add:\n Dilutive impact of RSUs, ESPP and options to purchase common stock 5,128,480 18,362,026\n Dilutive impact of private Warrants — 873,532\n Weighted average common shares — diluted 350,470,788 382,215,129\n Net income per share attributable to common stockholders — Basic earnings $ 0.06 $ 0.06\n per\n share\n Diluted earnings per share $ 0.06 $ 0.05\n\n \n TABLE - 4\n\nPAYONEER GLOBAL INC.\n\nCONSOLIDATED BALANCE SHEETS (UNAUDITED)\n\n(U.S. dollars in thousands, except share and per share data)\n\n March 31, December 31,\n 2026 2025\n Assets:\n Current assets:\n Cash and cash equivalents $ 339,365 $ 415,537\n Restricted cash 4,851 6,090\n Customer funds 7,245,415 7,544,541\n Accounts receivable (net of allowance of $843 and $501 at March 31, 2026 and 12,634 10,412\n December 31, 2025, respectively)\n Capital advance receivables (net of allowance of $3,676 at March 31, 2026 37,234 43,665\n and $3,953 at\n December 31, 2025)\n Other current assets 83,969 90,671\n Total current assets 7,723,468 8,110,916\n Non-current assets:\n Property, equipment and software, net 39,739 32,437\n Goodwill 86,188 77,785\n Intangible assets, net 214,443 208,053\n Customer funds 350,000 350,000\n Restricted cash 23,561 23,604\n Deferred tax assets, net 60,261 56,898\n Severance pay fund 867 856\n Operating lease right-of-use assets 63,750 62,257\n Other assets 35,729 33,783\n Total assets $ 8,598,006 $ 8,956,589\n Liabilities and shareholders' equity:\n Current liabilities:\n Trade payables $ 41,811 $ 44,611\n Outstanding operating balances 7,595,415 7,894,541\n Other payables 124,637 144,568\n Total current liabilities 7,761,863 8,083,720\n Non-current liabilities:\n Deferred tax liabilities, net 25,455 25,051\n Other long-term liabilities 151,613 143,391\n Total liabilities 7,938,931 8,252,162\n Commitments and contingencies\n\n Shareholders' equity:\n Preferred stock, $0.01 par value, 380,000,000 shares authorized; no shares — —\n were issued\n and outstanding at March 31, 2026 and December 31, 2025.\n Common stock, $0.01 par value, 3,800,000,000 and 3,800,000,000 shares 4,153 4,118\n authorized;\n 415,278,698 and 411,826,086 shares issued and 337,813,340 and 348,704,315\n shares\n outstanding at March 31, 2026 and December 31, 2025, respectively.\n Treasury stock at cost, 77,465,358 and 63,121,771 shares as of March 31, 2026 (443,483) (368,867)\n and\n December 31, 2025, respectively.\n Additional paid-in capital 912,812 896,294\n Accumulated other comprehensive loss (13,134) (6,277)\n Retained earnings 198,727 179,159\n Total shareholders' equity 659,075 704,427\n Total liabilities and shareholders' equity $ 8,598,006 $ 8,956,589\n\n \n TABLE - 5\n\nPAYONEER GLOBAL INC.\n\nCONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)\n\n(U.S. dollars in thousands)\n\n March 31,\n 2026 2025\n Cash Flows from Operating Activities\n Net income $ 19,568 $ 20,577\n Adjustment to reconcile net income to net cash provided by operating\n activities:\n Depreciation and amortization 18,916 14,390\n Deferred taxes (1,108) (2,279)\n Stock-based compensation expenses 18,524 18,755\n Interest on certificate of deposits (5,718) (6,725)\n Interest and amortization of premium/discount on investments 401 (2,685)\n Net realized (gains) losses on derivative instruments (94) 117\n Foreign currency re-measurement (gain) loss 684 (1,811)\n Changes in operating assets and liabilities:\n Other current assets 6,802 17,165\n Trade payables (6,750) (2,883)\n Deferred revenue 1,900 358\n Accounts receivable, net (2,187) 2,555\n Capital advance extended to customers (64,160) (84,078)\n Capital advance collected from customers 70,591 95,232\n Other payables (15,154) (17,108)\n Other long-term liabilities 6,603 (781)\n Operating lease right-of-use assets 3,139 2,121\n Other assets (126) 796\n Net cash provided by operating activities 51,831 53,716\n\n Cash Flows from Investing Activities\n Purchase of property, equipment and software (10,148) (4,726)\n Capitalization of internal use software (18,619) (16,067)\n Severance pay fund distributions, net (11) 17\n Customer funds in transit, net (22,319) (19,742)\n Purchases of investments in available-for-sale debt securities (80,375) (71,968)\n Maturities of investments in available-for-sale debt securities 75,000 64,500\n Settlement of cash flow hedges 2,061 —\n Cash paid in connection with acquisition, net of cash acquired (6,479) —\n Net cash used in investing activities (60,890) (47,986)\n\n Cash Flows from Financing Activities\n Proceeds from issuance of common stock in connection with stock-based (2,543) (4,400)\n compensation plan,\n net of taxes paid related to settlement of equity awards and proceeds from\n employee equity\n transactions to be remitted to employees\n Outstanding operating balances, net (301,781) (385,763)\n Receipts of collateral on interest rate derivatives 32,860 25,610\n Payments of collateral on interest rate derivatives (32,680) (20,140)\n Consideration related to previous acquisitions (6,519) —\n Common stock repurchased (74,991) (17,753)\n Net cash used in financing activities (385,654) (402,446)\n\n Effect of exchange rate changes on cash and cash equivalents (808) 1,878\n\n Net change in cash, cash equivalents, restricted cash and customer funds (395,521) (394,838)\n Cash, cash equivalents, restricted cash and customer funds at beginning of 6,416,707 5,658,210\n period\n Cash, cash equivalents, restricted cash and customer funds at end of period $ 6,021,186 $ 5,263,372\n Supplemental information of investing and financing activities not involving\n cash flows:\n Property, equipment, and software acquired but not paid $ 1,485 $ —\n Internal use software capitalized but not paid $ 6,694 $ 4,959\n Common stock repurchased but not paid $ 1,942 $ —\n Right of use assets obtained in exchange for new operating lease liabilities $ 2,330 $ 2,724\n\n \n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/payoneer-reports-first-quarter-2026-financial-results-302764826.html\n(https://www.prnewswire.com/news-releases/payoneer-reports-first-quarter-2026-financial-results-302764826.html)\n\nSOURCE Payoneer\n\n\n\nPhoto: \nhttps://mma.prnewswire.com/media/2748009/Payoneer_Logo.jpg\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nPn4M1zDLa","title":"Payoneer Reports First Quarter 2026 Financial Results","author":"PR Newswire","ticker":"PAYO","created":"2026-05-07T11:30:07.431Z","tickers":["PAYO"],"exchange":"NASDAQ","article_body":"Payoneer Reports First Quarter 2026 Financial Results\n\nPR Newswire\n\nNEW YORK, May 7, 2026\n\n11% increase in revenue ex. interest and strong profitability\n\n44% B2B volume growth reflects acceleration across every major region\n\nIncreases 2026 guidance\n\nNEW YORK, May 7, 2026 /PRNewswire/ -- Payoneer Global Inc. (\"Payoneer\" or the\n\"Company\") (NASDAQ: PAYO), the global financial technology company powering\nbusiness growth across borders, today reported financial results for its first\nquarter ended March 31, 2026.\n\n(https://mma.prnewswire.com/media/2748009/Payoneer_Logo.html)\n\nFirst Quarter 2026 Financial Highlights\n\n ($ in mm unless otherwise noted) 1Q 2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 YoY Change\n Revenue ex. interest income $188.6 $202.3 $211.4 $218.9 $210.1 11 %\n Interest income 58.0 58.3 59.5 55.8 51.5 (11) %\n Revenue $246.6 $260.6 $270.9 $274.7 $261.6 6 %\n Transaction costs as a % of revenue 16.0 % 15.6 % 15.7 % 15.6 % 13.5 % (250) bps\n Net income $20.6 $19.5 $14.1 $19.0 $19.6 (5) %\n Adjusted EBITDA 65.4 66.4 71.3 68.5 69.4 6 %\n Adjusted EBITDA ex. interest income 7.5 8.1 11.7 12.8 17.9 140 %\n\n Operational Metrics\n Volume ($bn) $19.7 $20.7 $22.3 $24.8 $22.8 16 %\n Average Revenue Per User (ARPU)(1) $ 439 $ 452 $ 471 $ 488 $513 17 %\n Revenue as a % of volume (\"Take Rate\") 125 bps 126 bps 121 bps 111 bps 115 bps (10) bps\n SMB customer take rate(2) 119 bps 120 bps 121 bps 113 bps 120 bps 1 bp\n\n 1. Please refer to \"Additional Information and Definitions\" for a description of\n ARPU.\n 2. SMB customer take rate represents revenue from SMBs who sell on marketplaces,\n B2B SMBs, and Checkout (previously known as Merchant Services), divided by the\n associated volume from each respective channel.\n\n\"In Q1 we delivered acceleration across major KPIs: revenue growth ex.\ninterest accelerated to 11%, B2B volume growth more than doubled to 44%, and\nwe delivered another quarter of significant core profitability expansion. We\nare driving broad-based momentum across our business, supported by\ndifferentiated assets that compound as we scale. We have infrastructure built\non years of investment and innovation, network effects that strengthen as\nvolumes grow, and platform depth that allows us to meet the needs of how our\ncustomers operate globally.\n\nWe're a profitable, scaled platform in a multi-trillion-dollar B2B market\nthat's still in the early innings of digitization, and our strong Q1 results\ndemonstrate we're capturing share. We are executing consistently, moving fast\nwhere we see opportunities, and building a business that's not just larger,\nbut structurally more valuable, with deeper strategic advantages and stronger\ncustomer relationships.\"\n\nJohn Caplan, Chief Executive Officer\n\nFirst Quarter 2026 Business Highlights (unless otherwise noted)\n\n * Revenue excluding interest income grew 11% year-over-year, driven by 16%\nvolume growth led by a significant acceleration in B2B.\n * SMB customer revenue of $189 million grew 12% year-over-year, reflecting:\n* SMBs that sell on marketplaces revenue of $115 million, up 4%\nyear-over-year.\n * B2B SMBs revenue of $64 million, up 23% year-over-year.\n * Checkout revenue of $10 million, up 46% year-over-year.\n * B2B volume growth accelerated significantly to 44% year-over-year driven by\nstrong growth in China, EMEA and APAC.\n * Strong enterprise payouts momentum continued with 28% year-over-year volume\ngrowth.\n * 17% growth in ARPU, and 22% growth in ARPU excluding interest income, the\nseventh consecutive quarter of 20%+ growth in ARPU excluding interest income.\n * 1bp of SMB customer take rate expansion driven by mix shift towards higher\nyield products and services and the impact of our fee and monetization\ninitiatives.\n * $7.6 billion of customer funds (including both short-term and long-term funds)\nas of March 31, 2026. Customer funds growth of 15% year-over-year partially\noffset the impact of lower interest rates on year-over-year interest income.\n * Significant year-over-year increase in share repurchases, with $74 million in\nthe first quarter at a weighted average price of $5.16, vs $17 million in Q1\n2025.\n * Announced a strategic collaboration with FundPark, a fintech that provides\nfinancing solutions that help e-commerce businesses in Hong Kong accelerate\ntheir global business expansion.\n2026 Outlook\n\n\"We begin 2026 with strong momentum. Revenue ex. interest is accelerating,\nrobust growth in our B2B franchise is driving SMB take rate expansion,\nexecution against our upmarket strategy is gaining traction and contributed to\na seventh consecutive quarter of 20%+ growth in ARPU ex. interest, and core\nbusiness profitability increased substantially. We're unlocking significant\noperating leverage while making meaningful investments, including\nin stablecoin and agentic AI, that we believe will support our durable,\nprofitable growth.\n\nWe are increasing our full year 2026 guidance, reflecting $900-$940 million in\nrevenue ex. interest and $200 million in interest income. We expect adjusted\nEBITDA(1 )of $285-$295 million. Our business fundamentals are strong, our\nstrategic initiatives are working, and we're well-positioned to capitalize on\nthe significant opportunity ahead of us.\"\n\nBea Ordonez, Chief Financial Officer\n\n2026 guidance is as follows:\n\n Revenue $1,100 million - $1,140 million\n Transaction costs ~15.0% of revenue\n Adjusted EBITDA(1) $285 million to $295 million\n\n 1. The Company cannot reconcile its expected adjusted EBITDA to expected net\n income under \"2026 Guidance\" without unreasonable effort because certain items\n that impact net income and other reconciling metrics are out of the Company's\n control and/or cannot be reasonably predicted at this time, including income\n taxes and other financial (income) expense, net. Such unavailable information\n could have a significant impact on the Company's GAAP financial results.\n Please refer to \"Financial Information; Non-GAAP Financial Measures\" below for\n a description of the calculation of adjusted EBITDA.\n\nWebcast\n\nPayoneer will host a live webcast of its earnings on a conference call with\nthe investment community beginning at 8:30 a.m. ET today, May 7, 2026. To\naccess the webcast, go to the investor relations section of the Company's\nwebsite at https://investor.payoneer.com (https://investor.payoneer.com) . A\nreplay will be available on the investor relations website following the call.\n\nAbout Payoneer\n\nPayoneer is the financial platform for cross-border business and global\npayments. Payoneer empowers millions of businesses with the financial tools\nand services they need to grow and transact globally with confidence. We make\nit easier for SMBs, particularly in emerging markets, to connect to the global\neconomy, pay and get paid across borders, manage their funds across multiple\ncurrencies, and grow their businesses.\n\nForward-Looking Statements\n\nThis press release includes, and oral statements made from time to time by\nrepresentatives of Payoneer, may be considered \"forward-looking statements\"\nwithin the meaning of the \"safe harbor\" provisions of the United States\nPrivate Securities Litigation Reform Act of 1995. Forward-looking statements\ngenerally relate to future events or Payoneer's future financial or operating\nperformance. For example, projections of future revenue, transaction costs and\nadjusted EBITDA are forward-looking statements. In some cases, you can\nidentify forward-looking statements by terminology such as \"may,\" \"should,\"\n\"expect,\" \"intend,\" \"plan,\" \"will,\" \"estimate,\" \"anticipate,\" \"believe,\"\n\"predict,\" \"potential\" or \"continue,\" or the negatives of these terms or\nvariations of them or similar terminology. Such forward-looking statements are\nsubject to risks, uncertainties, and other factors which could cause actual\nresults to differ materially from those expressed or implied by such forward\nlooking statements. These forward-looking statements are based upon estimates\nand assumptions that, while considered reasonable by Payoneer and its\nmanagement, as the case may be, are inherently uncertain. Factors that may\ncause actual results to differ materially from current expectations include,\nbut are not limited to: (1) changes in applicable laws or regulations; (2) the\npossibility that Payoneer may be adversely affected by geopolitical events and\nconflicts, such as Israel's and the United States' conflicts in the Middle\nEast, and other economic, business and/or competitive factors, such as changes\nin global trade policies (including the imposition of tariffs); (3) changes in\nthe assumptions underlying our financial estimates; (4) the outcome of any\nknown and/or unknown legal or regulatory proceedings; and (5) other risks and\nuncertainties set forth in Payoneer's Annual Report on Form 10-K for the\nperiod ended December 31, 2025 and future reports that Payoneer may file with\nthe SEC from time to time. Nothing in this press release should be regarded as\na representation by any person that the forward-looking statements set forth\nherein will be achieved or that any of the contemplated results of such\nforward-looking statements will be achieved. You should not place undue\nreliance on forward-looking statements, which speak only as of the date they\nare made. Payoneer does not undertake any duty to update these forward-looking\nstatements.\n\nFinancial Information; Non-GAAP Financial Measures\n\nSome of the financial information and data contained in this press release,\nsuch as adjusted EBITDA, have not been prepared in accordance with United\nStates generally accepted accounting principles (\"GAAP\"). Payoneer uses\ncertain non-GAAP measures to compare Payoneer's performance to that of prior\nperiods for budgeting and planning purposes. Payoneer believes these non-GAAP\nmeasures of financial results provide useful information to management and\ninvestors regarding certain financial and business trends relating to\nPayoneer's results of operations. Payoneer's method of determining these\nnon-GAAP measures may be different from other companies' methods and,\ntherefore, may not be comparable to those used by other companies and Payoneer\ndoes not recommend the sole use of these non-GAAP measures to assess its\nfinancial performance. Payoneer management does not consider these non-GAAP\nmeasures in isolation or as an alternative to financial measures determined in\naccordance with GAAP. The principal limitation of these non-GAAP financial\nmeasures is that they exclude significant expenses and income that are\nrequired by GAAP to be recorded in Payoneer's financial statements. In\naddition, they are subject to inherent limitations as they reflect the\nexercise of judgments by management about which expense and income are\nexcluded or included in determining these non-GAAP financial measures. In\norder to compensate for these limitations, management presents non-GAAP\nfinancial measures in connection with GAAP results. You should review\nPayoneer's financial statements, which are included in Payoneer's Annual\nReport on Form 10-K for the year ended December 31, 2025 and its subsequent\nQuarterly Reports on Form 10-Q, and not rely on any single financial measure\nto evaluate Payoneer's business.\n\nNon-GAAP measures include the following items:\n\nAdjusted EBITDA: We provide adjusted EBITDA, a non-GAAP financial measure that\nrepresents our net income (loss) adjusted to exclude, as applicable: M&A\nrelated expense (income), stock-based compensation expenses, restructuring\ncharges, loss (gain) from change in fair value of warrants and warrant\nrepurchase/redemption, other financial expense (income), net, income taxes,\nand depreciation and amortization.\n\nAdjusted EBITDA ex. Interest: represents Adjusted EBITDA excluding interest\nincome.\n\nOther companies may calculate the above measure differently, and therefore\nPayoneer's measures may not be directly comparable to similarly titled\nmeasures of other companies.\n\nAdditional Information and Definitions\n\nIn this earnings release, we reference volume, which is an operational metric.\nVolume refers to the total dollar value of transactions successfully completed\nor enabled by our platform, not including orchestration transactions. For a\ncustomer that both receives and later sends payments, we count the volume only\nonce. Note: orchestration transactions ceased in 2024 and were related to our\n2020 acquisition of optile GmbH.\n\nWe also reference ARPU (Average Revenue Per User), which is defined as the\nRevenue from Active Customers divided by the number of Active Customers over\nthe period in which the Revenue was earned. Active Customers for these\npurposes are defined as Payoneer accountholders with at least 1 financial\ntransaction over the period. Revenue from Active Customers represents revenue\nattributed to Active Customers based on their use of the Payoneer platform,\nincluding interest income earned from their balances, and excluding revenues\nunrelated to their activities.\n\nInvestor Contact:\nMichelle Wang\ninvestor@payoneer.com (mailto:investor@payoneer.com)\n\nMedia Contact:\nAngela Sullivan\nPR@payoneer.com (mailto:PR@payoneer.com)\n TABLE - 1\n\nPAYONEER GLOBAL INC.\n\nCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED)\n\n(U.S. dollars in thousands, except share and per share data)\n\n (Unaudited)\n Three months ended\n March 31,\n 2026 2025\n\n Revenues $ 261,595 $ 246,617\n\n Transaction costs 35,202 39,349\n Other operating expenses 40,011 41,658\n Research and development expenses 43,326 37,271\n Sales and marketing expenses 58,112 54,726\n General and administrative expenses 36,007 29,904\n Depreciation and amortization 18,916 14,390\n Total operating expenses 231,574 217,298\n\n Operating income 30,021 29,319\n\n Financial expense:\n Other financial expense, net 812 1,550\n Financial expense, net 812 1,550\n\n Income before income taxes 29,209 27,769\n\n Income taxes 9,641 7,192\n\n Net income $ 19,568 $ 20,577\n\n Other comprehensive income (loss)\n Unrealized gain (loss) on available-for-sale debt securities, net (8,351) 7,239\n Tax benefit (expense) on unrealized gain (loss) on available-for-sale debt 1,902 (1,605)\n securities, net\n Unrealized loss on cash flow hedges, net (2,284) (1,787)\n Tax benefit on unrealized loss on cash flow hedges, net 446 327\n Unrealized gain on interest rate floor, net 2,154 6,021\n Tax expense on unrealized gain on interest rate floor, net (613) (1,276)\n Foreign currency translation adjustments (111) (169)\n Other comprehensive income (loss) (6,857) 8,750\n\n Comprehensive income $ 12,711 $ 29,327\n\n Per Share Data\n Net income per share attributable to common stockholders — Basic earnings $ 0.06 $ 0.06\n per\n share\n — Diluted earnings per share $ 0.06 $ 0.05\n\n Weighted average common shares outstanding — Basic 345,342,308 362,979,571\n Weighted average common shares outstanding — Diluted 350,470,788 382,215,129\n\nDisaggregation of revenue\n\nThe following table presents revenue recognized from contracts with customers\nas well as revenue from other sources:\n (Unaudited)\n Three months ended\n March 31,\n 2026 2025\n Revenue recognized at a point in time $ 206,899 $ 185,333\n Revenue recognized over time 1,152 930\n Revenue from contracts with customers $ 208,051 $ 186,263\n Interest income on customer balances $ 51,537 $ 57,972\n Capital advance income 2,007 2,382\n Revenue from other sources $ 53,544 $ 60,354\n Total revenues $ 261,595 $ 246,617\n\nThe following table presents the Company's revenue disaggregated by primary\nregional market, with revenues being attributed to the country (in the region)\nin which the billing address of the transacting customer is located, with the\nexception of global bank transfer revenues, where revenues are disaggregated\nbased on the billing address of the transaction funds source.\n (Unaudited)\n Three months ended\n March 31,\n 2026 2025\n Primary regional markets\n Greater China((1)) $ 86,616 $ 84,896\n Europe, Middle East, and Africa((2)) 64,751 58,893\n Asia-Pacific((2)) 58,185 51,260\n Latin America((2)) 26,047 27,873\n North America((3)) 25,996 23,695\n Total revenues $ 261,595 $ 246,617\n\n 1. Greater China is inclusive of mainland China, Hong Kong, Macao and Taiwan.\n 2. No single country included in any of these regions generated more than 10% of\n total revenue.\n 3. The United States is the Company's country of domicile. Of North America\n revenues, the U.S. represents $25,123 and $22,624 during the three months\n ended March 31, 2026 and 2025\n\n \n TABLE - 2\n\nPAYONEER GLOBAL INC.\n\nRECONCILIATION OF NET INCOME TO ADJUSTED EBITDA (UNAUDITED)\n\n(U.S. dollars in thousands)\n\n Three months ended\n March 31,\n 2026 2025\n Net income $ 19,568 $ 20,577\n Depreciation and amortization 18,916 14,390\n Income taxes 9,641 7,192\n Other financial expense, net 812 1,550\n EBITDA 48,937 43,709\n Stock based compensation expenses((1)) 18,524 18,755\n M&A related expenses((2)) 478 337\n Restructuring charges((3)) 1,509 2,630\n Adjusted EBITDA $ 69,448 $ 65,431\n\n Three months ended,\n Mar. 31, 2025 June 30, 2025 Sept. 30, 2025 Dec. 31, 2025 Mar. 31, 2026\n Net income $ 20,577 $ 19,480 $ 14,123 $ 19,012 $ 19,568\n Depreciation and amortization 14,390 15,553 16,140 19,542 18,916\n Income taxes 7,192 10,370 16,388 8,446 9,641\n Other financial expense, net 1,550 227 5,836 1,466 812\n EBITDA 43,709 45,630 52,487 48,466 48,937\n Stock based compensation expenses((1)) 18,755 20,059 17,799 16,491 18,524\n M&A related expenses((2)) 337 736 981 1,339 478\n Restructuring charges((3)) 2,630 — — 2,243 1,509\n Adjusted EBITDA $ 65,431 $ 66,425 $ 71,267 $ 68,539 $ 69,448\n\n 1. Represents non-cash charges associated with stock-based compensation expense,\n which has been, and will continue to be for the foreseeable future, a\n significant recurring expense in our business and an important part of our\n compensation strategy.\n 2. Amounts relate to M&A-related third-party fees, including related legal,\n consulting and other expenditures. For the three months ended March 31, 2026,\n $0.5 million of these expenses related to the acquisition of Boundless and the\n non-recurring fair value adjustment of the Skuad contingent consideration\n liability discussed in Note 3 to our condensed consolidated financial\n statements included elsewhere within this Quarterly Report on Form 10-Q.\n Amounts for the three months ended March 31, 2025 include $0.3 million in\n non-recurring fair value adjustment of the Skuad contingent consideration\n liability discussed in Note 3 to our condensed consolidated financial\n statements included elsewhere within this Quarterly Report on Form 10-Q.\n 3. Represents non-recurring costs related to severance and other employee\n termination benefits.\n\n \n TABLE - 3\n\nPAYONEER GLOBAL INC.\n\nEARNINGS PER SHARE\n\n(U.S. dollars in thousands, except share and per share data)\n\n (Unaudited)\n Three months ended March 31,\n 2026 2025\n Numerator:\n Net income $ 19,568 $ 20,577\n Denominator:\n Weighted average common shares outstanding —\n Basic 345,342,308 362,979,571\n Add:\n Dilutive impact of RSUs, ESPP and options to purchase common stock 5,128,480 18,362,026\n Dilutive impact of private Warrants — 873,532\n Weighted average common shares — diluted 350,470,788 382,215,129\n Net income per share attributable to common stockholders — Basic earnings $ 0.06 $ 0.06\n per\n share\n Diluted earnings per share $ 0.06 $ 0.05\n\n \n TABLE - 4\n\nPAYONEER GLOBAL INC.\n\nCONSOLIDATED BALANCE SHEETS (UNAUDITED)\n\n(U.S. dollars in thousands, except share and per share data)\n\n March 31, December 31,\n 2026 2025\n Assets:\n Current assets:\n Cash and cash equivalents $ 339,365 $ 415,537\n Restricted cash 4,851 6,090\n Customer funds 7,245,415 7,544,541\n Accounts receivable (net of allowance of $843 and $501 at March 31, 2026 and 12,634 10,412\n December 31, 2025, respectively)\n Capital advance receivables (net of allowance of $3,676 at March 31, 2026 37,234 43,665\n and $3,953 at\n December 31, 2025)\n Other current assets 83,969 90,671\n Total current assets 7,723,468 8,110,916\n Non-current assets:\n Property, equipment and software, net 39,739 32,437\n Goodwill 86,188 77,785\n Intangible assets, net 214,443 208,053\n Customer funds 350,000 350,000\n Restricted cash 23,561 23,604\n Deferred tax assets, net 60,261 56,898\n Severance pay fund 867 856\n Operating lease right-of-use assets 63,750 62,257\n Other assets 35,729 33,783\n Total assets $ 8,598,006 $ 8,956,589\n Liabilities and shareholders' equity:\n Current liabilities:\n Trade payables $ 41,811 $ 44,611\n Outstanding operating balances 7,595,415 7,894,541\n Other payables 124,637 144,568\n Total current liabilities 7,761,863 8,083,720\n Non-current liabilities:\n Deferred tax liabilities, net 25,455 25,051\n Other long-term liabilities 151,613 143,391\n Total liabilities 7,938,931 8,252,162\n Commitments and contingencies\n\n Shareholders' equity:\n Preferred stock, $0.01 par value, 380,000,000 shares authorized; no shares — —\n were issued\n and outstanding at March 31, 2026 and December 31, 2025.\n Common stock, $0.01 par value, 3,800,000,000 and 3,800,000,000 shares 4,153 4,118\n authorized;\n 415,278,698 and 411,826,086 shares issued and 337,813,340 and 348,704,315\n shares\n outstanding at March 31, 2026 and December 31, 2025, respectively.\n Treasury stock at cost, 77,465,358 and 63,121,771 shares as of March 31, 2026 (443,483) (368,867)\n and\n December 31, 2025, respectively.\n Additional paid-in capital 912,812 896,294\n Accumulated other comprehensive loss (13,134) (6,277)\n Retained earnings 198,727 179,159\n Total shareholders' equity 659,075 704,427\n Total liabilities and shareholders' equity $ 8,598,006 $ 8,956,589\n\n \n TABLE - 5\n\nPAYONEER GLOBAL INC.\n\nCONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)\n\n(U.S. dollars in thousands)\n\n March 31,\n 2026 2025\n Cash Flows from Operating Activities\n Net income $ 19,568 $ 20,577\n Adjustment to reconcile net income to net cash provided by operating\n activities:\n Depreciation and amortization 18,916 14,390\n Deferred taxes (1,108) (2,279)\n Stock-based compensation expenses 18,524 18,755\n Interest on certificate of deposits (5,718) (6,725)\n Interest and amortization of premium/discount on investments 401 (2,685)\n Net realized (gains) losses on derivative instruments (94) 117\n Foreign currency re-measurement (gain) loss 684 (1,811)\n Changes in operating assets and liabilities:\n Other current assets 6,802 17,165\n Trade payables (6,750) (2,883)\n Deferred revenue 1,900 358\n Accounts receivable, net (2,187) 2,555\n Capital advance extended to customers (64,160) (84,078)\n Capital advance collected from customers 70,591 95,232\n Other payables (15,154) (17,108)\n Other long-term liabilities 6,603 (781)\n Operating lease right-of-use assets 3,139 2,121\n Other assets (126) 796\n Net cash provided by operating activities 51,831 53,716\n\n Cash Flows from Investing Activities\n Purchase of property, equipment and software (10,148) (4,726)\n Capitalization of internal use software (18,619) (16,067)\n Severance pay fund distributions, net (11) 17\n Customer funds in transit, net (22,319) (19,742)\n Purchases of investments in available-for-sale debt securities (80,375) (71,968)\n Maturities of investments in available-for-sale debt securities 75,000 64,500\n Settlement of cash flow hedges 2,061 —\n Cash paid in connection with acquisition, net of cash acquired (6,479) —\n Net cash used in investing activities (60,890) (47,986)\n\n Cash Flows from Financing Activities\n Proceeds from issuance of common stock in connection with stock-based (2,543) (4,400)\n compensation plan,\n net of taxes paid related to settlement of equity awards and proceeds from\n employee equity\n transactions to be remitted to employees\n Outstanding operating balances, net (301,781) (385,763)\n Receipts of collateral on interest rate derivatives 32,860 25,610\n Payments of collateral on interest rate derivatives (32,680) (20,140)\n Consideration related to previous acquisitions (6,519) —\n Common stock repurchased (74,991) (17,753)\n Net cash used in financing activities (385,654) (402,446)\n\n Effect of exchange rate changes on cash and cash equivalents (808) 1,878\n\n Net change in cash, cash equivalents, restricted cash and customer funds (395,521) (394,838)\n Cash, cash equivalents, restricted cash and customer funds at beginning of 6,416,707 5,658,210\n period\n Cash, cash equivalents, restricted cash and customer funds at end of period $ 6,021,186 $ 5,263,372\n Supplemental information of investing and financing activities not involving\n cash flows:\n Property, equipment, and software acquired but not paid $ 1,485 $ —\n Internal use software capitalized but not paid $ 6,694 $ 4,959\n Common stock repurchased but not paid $ 1,942 $ —\n Right of use assets obtained in exchange for new operating lease liabilities $ 2,330 $ 2,724\n\n \n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/payoneer-reports-first-quarter-2026-financial-results-302764826.html\n(https://www.prnewswire.com/news-releases/payoneer-reports-first-quarter-2026-financial-results-302764826.html)\n\nSOURCE Payoneer\n\n\n\nPhoto: \nhttps://mma.prnewswire.com/media/2748009/Payoneer_Logo.jpg\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved."},"type":"article","timestamp":"2026-05-07T11:30:07.554618636Z","server_sent_at_ms":1778153407554},"received_at":"2026-05-07T11:30:07.710Z","source_url":"https://www.prnewswire.com/news-releases/payoneer-reports-first-quarter-2026-financial-results-302764826.html"},"analysis":{"id":"19867","press_release_id":"25380","analysis_json":{"industry":{"label":"Financial Services","sector":"Financials"},"redFlags":[],"eventType":"earnings","narrative":"Payoneer reported Q1 2026 revenue ex-interest of $210.1 million, up 11% year-over-year, driven by a 44% acceleration in B2B volume growth across major regions.\n\nTotal revenue reached $261.6 million while Adjusted EBITDA grew 6% to $69.4 million, leading the company to raise its full-year 2026 revenue guidance to $1.10-$1.14 billion.\n\nThe company returned significant capital to shareholders, repurchasing $74 million of stock at an average price of $5.16, and announced a strategic partnership with FundPark to support e-commerce businesses in Hong Kong.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Payoneer accelerates B2B growth and raises guidance backed by aggressive $74M buyback."},"keyFigures":{"eps":0.06,"revenue":261600000,"guidance":"FY26 Revenue $1,100 million - $1,140 million; Adjusted EBITDA $285 million - $295 million","revenueYoy":"6 %","customDimensions":{"arpu":"$513","volume":"$22.8 billion","adjusted_ebitda":"$69.4 million","b2b_volume_growth":"44 %","share_repurchases":"$74 million","revenue_ex_interest":"$210.1 million","revenue_ex_interest_yoy":"11 %"}},"quotedText":"In Q1 we delivered acceleration across major KPIs: revenue growth ex. interest accelerated to 11%, B2B volume growth more than doubled to 44%, and we delivered another quarter of significant core profitability expansion.","namedEntities":{"people":[{"name":"John Caplan","role":"Chief Executive Officer"},{"name":"Bea Ordonez","role":"Chief Financial Officer"}],"products":[],"companies":[{"name":"Payoneer Global Inc.","ticker":"PAYO"},{"name":"FundPark","relationship":"partner"}],"dollarAmounts":[{"amount":"$210.1 million","context":"Q1 2026 revenue ex. interest income"},{"amount":"$261.6 million","context":"Q1 2026 total revenue"},{"amount":"$74 million","context":"Q1 2026 share repurchases"},{"amount":"$5.16","context":"weighted average price of share repurchases"},{"amount":"$1,100 million - $1,140 million","context":"2026 revenue guidance"}]},"materialImpact":{"score":4,"reasoning":"Strong quarter with 11% revenue growth ex-interest and 44% B2B volume acceleration. Management raised full-year 2026 guidance and executed significant share repurchases of $74 million."},"tickerRelevance":{"others":[{"ticker":"FundPark","relevance":"partner"}],"primary":"PAYO"},"globalImportance":30,"audienceRelevance":25,"eventTypeSecondary":["guidance_update","buyback"],"importanceComponents":{"tickerTier":"mid-cap","eventGravity":"earnings_with_guidance_raise_and_buyback","sectorWeight":"fintech"}},"event_type":"earnings","event_type_secondary":["guidance_update","buyback"],"sentiment":"bullish","material_impact_score":4,"narrative":"Payoneer reported Q1 2026 revenue ex-interest of $210.1 million, up 11% year-over-year, driven by a 44% acceleration in B2B volume growth across major regions.\n\nTotal revenue reached $261.6 million while Adjusted EBITDA grew 6% to $69.4 million, leading the company to raise its full-year 2026 revenue guidance to $1.10-$1.14 billion.\n\nThe company returned significant capital to shareholders, repurchasing $74 million of stock at an average price of $5.16, and announced a strategic partnership with FundPark to support e-commerce businesses in Hong Kong.","key_figures":{"eps":0.06,"revenue":261600000,"guidance":"FY26 Revenue $1,100 million - $1,140 million; Adjusted EBITDA $285 million - $295 million","revenueYoy":"6 %","customDimensions":{"arpu":"$513","volume":"$22.8 billion","adjusted_ebitda":"$69.4 million","b2b_volume_growth":"44 %","share_repurchases":"$74 million","revenue_ex_interest":"$210.1 million","revenue_ex_interest_yoy":"11 %"}},"named_entities":{"people":[{"name":"John Caplan","role":"Chief Executive Officer"},{"name":"Bea Ordonez","role":"Chief Financial Officer"}],"products":[],"companies":[{"name":"Payoneer Global Inc.","ticker":"PAYO"},{"name":"FundPark","relationship":"partner"}],"dollarAmounts":[{"amount":"$210.1 million","context":"Q1 2026 revenue ex. interest income"},{"amount":"$261.6 million","context":"Q1 2026 total revenue"},{"amount":"$74 million","context":"Q1 2026 share repurchases"},{"amount":"$5.16","context":"weighted average price of share repurchases"},{"amount":"$1,100 million - $1,140 million","context":"2026 revenue guidance"}]},"model_name":"glm-4.7","prompt_hash":"sha256:f66160e0fe5301b2","schema_hash":"sha256:12363694422af5d9","created_at":"2026-05-07T21:14:29.253Z","global_importance":30,"audience_relevance":25,"importance_components":{"tickerTier":"mid-cap","eventGravity":"earnings_with_guidance_raise_and_buyback","sectorWeight":"fintech"}},"durationMs":null,"modelName":"glm-4.7"}}