Updates
** Payments platform Paysafe's shares down 20.8% at $8.05
** PSFE reduced the midpoints of the FY25 revenue guide by 1% and adj. EBITDA by 9%
** Company cites slower growth in high-margin areas like digital wallet, e-commerce and stronger growth in low-margin areas like the ISO channel, hurting overall profitability
** PSFE reports adjusted Q3 net income of $40.3 million or 70 cents per share, compared to net loss of $12.98 or 21 cents per share, a year ago
** Co attributes the widening of loss to an accounting charge of $81.2 million due to the One Big Beautiful Bill that changed tax rules
** The increase in net loss was also attributed to higher restructuring and other costs of $12.4 million, primarily related to legal fees
** One of seven brokerages rate the stock "strong buy", five "hold" and one "sell"; median PT $14.55 - data compiled by LSEG
** As of last close, PSFE stock down ~40.6% YTD
(Reporting by Anuj T in Bengaluru)
((anuj.t@thomsonreuters.com))