Paysafe falls after weak annual forecast

Paysafe

07/03/2024 19:27

** Shares of British payments platform Paysafe  PSFE.N  fall
as much as 16.1%, last down 12.6% at $12.44
    ** Co forecasts annual adj. EBITDA between $473 mln and $488
mln, below analysts' expectation of $495 mln - LSEG data
    ** PSFE expects annual revenue between ~$1.69 bln and $1.71
bln, the midpoint of which is in-line with estimates of ~$1.70
bln
    ** BTIG analysts said the 2024 forecast was underwhelming
with the soft EBITDA outlook impacted by gross margin headwinds
likely to grab most investors' attention
    ** Q4 adj. net income came in at 66 cents/shr compared to 54
cents/shr last year
    ** Up to last close, stock up 11.3% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))