Simplify, accelerate, and secure your payments with the power of Canada Bank Transfer
Enjoy effortless and rapid transactions online or via phone, with instant payment options for quick fund movement. With robust security and customizable fraud prevention, our reliable solutions offer comprehensive, transparent reporting for your convenience.
Simple, flexible online bank payments
Supercharge your business by easily integrating Interac into your payment system. Experience lightning-fast payments through direct account-to-account transfers.
Join forces with the robust interbank network of Canadian financial institutions, processing billions of transactions annually.
A fast and secure way to transfer money between private and business accounts
Interac solutions seamlessly power transactions across the nation's leading financial institutions and are universally accepted at over half a million locations
Move funds quickly with faster and instant payment options
Cost-effective alternative to credit cards
Unify features through a single integration
Your ultimate instant bank transfer solution
Discover Instant Bank Transfer (IBT), your ultimate solution for secure and seamless payment verification in Canada.
IBT streamlines deposit and withdrawal processes while ensuring top-notch identity verification. Trust in IBT's cutting-edge risk management technology to safeguard your transactions and provide a hassle-free experience.
Boost conversion with a fast, secure mobile experience
Seamless user experience with Xpress 1-click payments
Easy and fast deposits for ultimate convenience
Enjoy higher transaction limits, up to $100,000
Cutting-edge risk management for enhanced security
Frictionless flows and instant payments
Customers and businesses can make and receive payments instantly, in a matter of seconds.
Benefit from enhanced conversion rates, an improved user path offering a smooth, and mobile-centric customer journey.
Instant payments for customers and businesses in seconds
Enhanced conversion rates with a smooth mobile user journey
Lower payment processing costs by bypassing card network charges
Simplify, accelerate, and secure your payments with the power of UK Bank Transfer
Enjoy effortless and rapid transactions online or via phone, with instant payment options for quick fund movement. With robust security and customizable fraud prevention, our reliable solutions offer comprehensive, transparent reporting for your convenience.
Simple, flexible online bank payments
Experience instant money transfers, bypass card network limitations, and harness the power of trusted banking connections.
Save time and money with processing through the Faster Payments network while offering a reliable and affordable alternative to credit cards.
Swift and secure transactions between UK bank accounts
24/7 accessibility for uninterrupted financial transactions
Real-time money transfers for a delay-free payment experience
Enjoy the convenience of a generous £1,000,000 per transaction limit
Cost-effective alternative to credit cards
Unify features through a single integration
Secure, direct bank payments for effortless transactions
Enjoy secure, hassle-free payments directly from your bank account with Pay with Bank transfer, powered by American Express but accessible to all.
Boost conversion with a fast, secure mobile experience
Enhanced security with bank authentication, no shared payment details
Broadly accepted, not limited to AMEX, for UK bank users
Low-cost, simple fee structure with easy reconciliation
Frictionless flows and instant payments
Customers and businesses can make and receive payments instantly, in a matter of seconds.
Benefit from enhanced conversion rates, an improved user path offering a smooth, and mobile-centric customer journey.
Instant payments for customers and businesses in seconds
Enhanced conversion rates with a smooth mobile user journey
Lower payment processing costs by bypassing card network charges
Simplify, accelerate, and secure your payments with EU Bank Transfer
Enjoy effortless and rapid transactions online or via phone, with instant payment options for quick fund movement. With robust security and customizable fraud prevention, our reliable solutions offer comprehensive, transparent reporting for your convenience.
Fast, reliable online bank payments
SEPA (Single Euro Payments Area) transforms E.U. cashless transactions, offering rapid euro transfers, 24/7, and near-instant processing for all participants.
With a single integration, supercharge your operations, fulfill orders faster, and boost cash flow with lightning-fast, real-time payments. Providing customers with unparalleled convenience, no matter where they are.
Instant payments are the closest substitute to cash: the transfer of money is immediate
24/7/365 accessibility for uninterrupted financial transactions
Real-time money transfers for a delay-free payment experience
Reduce payment processing costs by cutting out fees from card schemes
Enjoy higher transaction limits, up to €100,000
Bypass card network limits for maximum payment flexibility
Customers and businesses can make and receive payments in a matter of seconds using their trusted bank relationships.
Enhanced conversion rates, an improved user path offering a smooth, mobile-centric customer journey. Decreased payment processing expenses by eliminating charges associated with card networks.
Consumers and merchants can pay and get paid instantly, within seconds
Higher conversion rates, a better user journey providing a seamless, customer experience
Reduce payment processing costs by cutting out fees from card schemes
Customer authentication and zero chargeback guarantee
Safeguard your business with highly secure bank transfers
Protect your customers' data and prevent fraud. Say goodbye to chargebacks with our guaranteed solution.
Consumers and merchants can pay and get paid instantly, within seconds
Simplify, accelerate, and secure your payments with U.S. Bank Transfer
Enjoy effortless transactions, instant payment options, and transparent reporting. Protect your business with our Assured Funds guarantee.
Simple, flexible ACH payments
Empower your customers with a cost-effective, convenient payment solution. Debit funds directly from bank accounts for single or repeat transactions.
Save time and money with processing via Automated Clearing House (ACH), Real-time Payments (RTP®), and FedNow.
Simplify payments for clients with a seamless checkout
Streamline banking information entry - no physical card is needed
Secure digital enrollment for swift, authenticated payments
Process one-time or recurring transactions effortlessly
Economical alternative to credit and debit cards
Protection for your business, guaranteed
Mitigate payment risks effectively with Nuvei's Assured Funds, an insurance solution designed to protect businesses from potential losses caused by unauthorized, returned payments.
Assured Essential
Ensures protection against unpaid transactions and fraud. We assume the risk and handle collections, letting you focus on business.
Assured Complete
Guarantees funds on all returns, including unauthorized returns. Rapid merchant funding accelerates settlement and payment.
Instantly validate accounts for secure, timely payments
Prevent fraud and reduce returns with smart approval logic. We offer three validation levels for your unique business needs.
Basic
Enhanced security, real-time validation, and commercially reasonable bank account validation.
Enhanced
Powerful add-on that offers a deeper level of validation and greater fraud prevention.
Premier
Reduces administrative and NSF returns by providing the latest status of customer bank accounts.
Process paper checks electronically
Check 21+ is a cutting-edge payment solution that allows merchants to process paper checks electronically.
With this innovative technology, merchants can say goodbye to time-consuming trips to the bank and hello to faster, safer processing.
Enjoy higher checks limits and fewer limitations
Avoid ACH restrictions
Eliminate risk with guaranteed protection
Accept checks in person, by mail, or at a drop box location
Retrieve payments quickly with electronic deposits
Just like a finely tuned race car, every marginal improvement in your payment processes can lead to big growth. Maximize your approval rates and revenue with Nuvei's issuing solution.
Turbocharge your brand
Elevate your brand with Nuvei’s customizable physical cards.
Put your brand in your customers’ wallets and give them ability to pay with your card for their day-to-day expenses.
Tailor cards and wallets to reflect your brand's identity, including logo and colors
Enable seamless and secure transactions across online, in-store, and in-app purchases
Create a consistent and convenient customer experience for repeat customers
Also available—a high-end metal card with premium finish, elegance, and durability
Accelerate your transactions with virtual cards
Streamline vendor, consumer, and business payments with versatile virtual cards that cut costs and accelerate transactions.
Unify card issuing, acquiring, and settlement accounts on one seamless platform.
Easily generate single-use or multi-use virtual cards tailored to your needs, providing flexibility and control
Effortlessly manage single or batch card formats to scale your operations efficiently
Utilize our APIs for full automation and seamless integration of your card-issuing processes
Offer compatibility with Apple Pay and Google Pay wallets for seamless everyday use
Fuel your growth with precision
Maximize your revenue and make informed business decisions with Nuvei's data-driven insights.
Nuvei’s powerful reporting technology allows you to see holistic payments data and detailed transaction information—all on a single platform.
Take advantage of shared interchange opportunities to boost your revenue
Gain valuable, actionable insights from your issuing and acquiring operations to make informed business decisions
Access API-driven reporting to power custom dashboards and real-time insights
Navigate complex data to act upon critical business insights
Gain the winning edge with industry-specific payment solutions
Propel your business to the front of the pack with Nuvei's custom tailored payments.
Our issuing solution enables you to benefit from simpler, faster customer payouts, innovative accounts payable features, and streamlined B2B travel.
Disburse funds, such as winnings, to white-labeled physical or virtual cards, enhancing loyalty and engagement
Enable online travel agents to generate virtual cards for paying airlines and hotels, simplifying transactions
Streamline iGaming payouts and digital asset transactions, ensuring speed, security, and global reach
Generate virtual cards to pay suppliers, simplifying complex payment ecosystems and reducing fraud
Unlock new possibilities with API-powered payment solutions
Connect and customize with ease through Nuvei’s flexible API suite.
Get instant and insightful control over reporting, security, and global reach.
Automate accounting with leading platforms to reduce manual work
Set limits and rules for teams and sub-teams in real time
Connect to major blockchain networks for seamless digital asset payments
Accept payments anywhere Visa is supported worldwide
Strengthen protection with the Arculus Card combining credentials, wallet storage, and authentication
Elevate your business offering with faster, more secure pay-ins and payouts
Enjoy quick, effortless transactions online or by phone, backed by our customizable fraud prevention and assured funds guarantee. Benefit from clear, detailed reporting for complete transparency.
Lightning-fast funds without delay
Why wait? Experience lightning-fast fund transfers with our instant payment solutions. Streamline your financial operations with ease and speed and delight your customers.
Move funds quickly with faster and instant payment solutions
Instantly validate accounts and ensure timely, effective payments
Added flexibility to meet your fast-paced business needs
Setup can be done quickly and easily to ensure rapid compliance
Full integration support so that you can rest easy
Leverage real-time global payments
Harness the power of instant, real-time payments with our global network of providers. Our expansive reach offers unparalleled bank and country coverage, keeping you at the forefront of the financial world.
Boost your revenue and provide exceptional convenience to customers worldwide, facilitating growth at the speed of now.
Bank Transfers: Real-time Payments (RTP®) and FedNow in the US, SEPA Instant in the EU, Faster Payments and Amex’s Pay with Bank Transfer in the UK, plus Interac® Instant for Canadian transactions
Visa Direct & Mastercard Send: offering instant payment capabilities with secure money transfers, across various global banks and payment networks
EWallets: including PayPal, Neteller, Skrill, Pay4Fun, EcoPayz, Much Better, and more for virtually instant payments and minimal processing fees
Stablecoin Money Movement: blockchain-powered cross-border payouts that deliver faster settlement, lower FX costs in emerging markets, and full fund transparency, enabling local-in, local-out transfers without crypto exposure
Provide a seamless customer checkout experience
Embrace a world where intricate transaction processes are replaced by a streamlined, intuitive experience.
This shift promises not only higher conversion rates but also reduced processing costs, and a fortified security environment.
Efficient and secure, balancing protection and ease of use
Integrated simplicity, to make every checkout seamless
Extensive network access connects you to a wide array of banks and financial institutions
Frictionless bank login and payment process for faster transactions
Fast and dependable, transfer funds with remarkable speed and reliability
Gain a competitive edge with faster payments and settlement, flexibility and security
Meet the fast-paced needs of your organization with our rapid and instant payment options that pave the way for growth. Our Open Banking Technology and vast global partnerships offer a competitive edge. Every major market and network, all through a single integration.
Provide a seamless customer experience
Our bank transfer solutions give your customers the advantage of paying with their banking information, all within your regular checkout experience.
Say goodbye to confusing transaction flows and hello to higher conversion rates, lower processing costs, and enhanced security.
Simple, secure and flexible solution
Single integration into your checkout experience
Access to the major banks and financial institutions
Frictionless, seamless bank login and payment
Funds transfer is quick and reliable
Enhance consumer choice and convenience
Our bank transfer solutions are designed with your customers' preferences in mind, offering them a broader range of payment options that cater to their diverse needs.
This not only simplifies transactions but also broadens your appeal to a wider audience, including those who prefer not to use credit cards or seek alternatives to traditional payment methods.
Enable customer bank choice at checkout
No additional sign-ups to deter purchases
Real-time options for faster payments
Guaranteed and non-guaranteed models
Support for all major customer banks
Secure your payments with unmatched protection
Step into a realm of unparalleled security with our zero chargeback solutions, designed to safeguard your business against fraud while securing your customers' sensitive data.
Our guaranteed solution assures that once a payment is made, it cannot be reversed by the payer. Unlike credit card payments which can be disputed by the cardholder, we make chargebacks a thing of the past.
Peace of mind built into every transaction
Historical checks and intelligent approval system minimizes potential returns
Customizable security measures for fraud prevention tailored to your needs
Comprehensive, consolidated reporting, crafted for your ease
Reduce customer costs to increase profits and loyalty
Offer your customers a seamless payment experience while enjoying the benefits of lower processing fees compared to traditional credit card transactions.
This cost-effective solution not only makes payments more affordable but also enhances operational efficiency, allowing you to invest more in growing your business.
Lower per-transaction processing fees
Minimal chargeback fees and risks
Reduced interchange and network fees
Direct bank-to-bank transaction savings
Quicker access to your revenue
Unlock growth with our global banking network
Get unmatched country and bank coverage with our extensive network of global providers. Stay ahead of the curve and expand your revenue streams. Delight your customers with unparalleled convenience no matter where they are.
With a streamlined process, everything is faster, more accurate and less expensive to manage.
Automated and streamlined transaction management
Automatically match and reconcile your payments across multiple service providers and data sources. We can connect, integrate and monitor any new method.
With a streamlined process, everything is faster, more accurate and less expensive to manage.
Save revenue that would otherwise be lost to mismatches, reconciliation errors and incorrect fees
Get a clear overview of your finances and ensure that your revenue is exactly where it should be
All credit cards and over 700 alternative payment methods are supported
Totally managed solution to save time and money
Nuvei Reconciliation Manager+ takes care of the entire process all the way from implementation to updates, and reporting.
Save more time, reduce customer support tickets, spot technical issues and save more money.
Set up taken care of by a dedicated Account Manager
Achieve best-in-class performance through one dashboard
Control and manage the entire payment process for optimal performance, sales and revenue.
Simple-to-use orchestration hub
Optimize and control your payment experience through the Control Panel of the Payment Orchestration hub.
Manage settings that can boost acceptance rates, increase security and reduce declines or capture more revenue.
Configure, manage and personalize routing parameters
Manage online exemptions to maximize authorizations and optimize approval rates
Set limits and manage authentication to increase conversions and eliminate fraud
Set custom rules fueled with business insights to ensure maximum conversions
Risk analysis allows for strategic adjustments and personalization to stop chargebacks
Maximize acceptance rates
Boost your transaction approval and authorization rates by managing online exemption submissions.
More detailed data points mean more authorizations, better security, and a personalized, seamless experience for your customers.
Descope PSD2 compliance
Prevent fraud
Manage risk
Rescue revenue from declined transactions
Convert more payments by avoiding declined transactions. From one dashboard, you can set and manage data-driven rules.
Advanced analytics power innovative transaction routing.
Set custom rules based on your business insights for when payments are declined
Maximize conversion for hosted check out
Control and reporting from one central dashboard
Multi-faceted protection
Nuvei chargeback management tools can prevent and eliminate potential chargebacks before they happen - and mitigate the damage of those that do.
Dynamic 3D Secure
3DS exemption management
Verifi Rapid Dispute Resolution (Visa)
Ethoca (Mastercard)
Chargeback representment service
Understandable and actionable data
Keep on top of business performance with a crystal-clear view of your payments data across all channels.
Totally transparent view and dynamic reporting of your payments data
Spot actional insights amongst large volumes of complex data
Understandable analytics, including traffic optimization for higher approval rates and revenues
Block fraudulent transactions with enhanced verification flow
Live your best business life
Sometimes all you need is a nudge in the right direction. Business Coach is there to highlight when you could be achieving higher sales or customer engagement.
Business Coach offers actionable tips and key business metrics to help grow your business.
Accelerate engagement with client segments that drive higher revenue
Analyze your performance from a single dashboard that showcases your reviews and social media ratings
React quickly to social media reviews by receiving instant alerts
Offering an unmatched range of services, we empower hundreds of partners to enable millions of people to buy billions of dollars in digital assets. We are the leading payment partner of over 450 leading exchanges, wallets, brokers, coins, NFT platforms and blockchain games.
A turnkey crypto experience
Nuvei's fiat on-ramp and off-ramp provides a smooth experience for converting between fiat and cryptocurrencies. Accessible to both those with no blockchain experience and on-chain gaming experts through a single API.
Join hundreds of global businesses and discover the power of fiat-crypto conversion on demand delivered by fully licensed, publicly listed provider.
Enables Web2-style onboarding for Web3
Wide payment options globally and locally
350+ partners: exchanges, wallets, brokers, and coins
3.5+ million end users, $4B+ in processed payments
100+ fiat currencies and 200+ cryptocurrencies
Issuer of co-branded Visa for unified crypto transactions
Experience the power of stablecoin payments
Stablecoins are becoming a true alternative form of payment to offer to merchants on top of more traditional payment methods.
We enable real-time stablecoin transactions, easy conversion between fiat and stablecoins, and comprehensive settlement services tailored to meet your needs.
Supports all stablecoins, including merchant-minted ones
On-chain settlements reduce business operational costs
Take your blockchain project mainstream
One partnership for all your crypto business needs. Enable your blockchain assets for seamless onramps with 100+ fiat currencies, globally.
Support for multiple blockchains and tokens adds flexibility
Easy coin/token purchases with 100+ fiat currencies
Grow your brand equity with our large partner network of leading exchanges, wallets and platforms
Expand into new markets with global payment coverage
Easy and secure crypto payments
Accelerate transactions and enhance data accuracy, plus boost customer loyalty through our innovative crypto payment options. Experience the confidence of partnering with a provider that goes beyond fraud prevention to offer full-scale payment processing support.
Cryptocurrency payments broaden market access and lower costs by eliminating intermediaries, offering global reach with minimal transaction fees.
Access new markets and facilitate global financial access
Guaranteed zero fraud and no risk of chargebacks
Reduce costs and simplify management compared with card payments
Increase transaction speed and reduce security risks
Boosts customer loyalty and trust through safe payments
Instant access to funds with crypto, no middlemen
The future of paying for digital entertainment
Crypto is transforming gaming, offering significant advantages. Larger transaction limits, quicker payouts, and enhanced security minimize the need to share banking information.
With lower fees and global fund access, cryptocurrencies offer convenience and signals innovation. Additionally, players can receive bonuses as incentives for using crypto, enriching their gaming experience.
Near real-time crypto transactions improve cash flow
Crypto operations have less overhead
Nominal blockchain fees vs. card fees
Enhanced security with less data liability
Growing customer demand for crypto support
Access to new, unbanked legal markets
Empowering your journey into Web 3.0 and the Metaverse
Nuvei leads the move to Web 3.0, making your blockchain and Metaverse projects successful. With top partnerships and tools, we help you stand out.
Our approach gives users full control over their digital assets and privacy, boosting confidence in digital exploration.
Multiple integration options
Highly customizable UI and dynamic UX
Supports several blockchain protocols: Ethereum, Polkadot, or Binance Smart Chain
Smooth UX overcomes Web3 barriers like high fees and slow transactions
Tailors experiences to user preferences
Enhanced security, transparency and less central authority
Keep customers within your ecosystem by adding financial services into your payment mix. Offer bank deposits and payouts, as well as cards and financing. Make it easier for customers to buy more, more often.
Fast, reliable and secure digital banking
Expand your global reach and optimize transactions with Nuvei Business Accounts. Deliver real-time funds access, lower fees, and seamless integration to enhance efficiency and financial control.
Streamline your financial operations with Nuvei as your single partner for acquiring, issuing, and banking services.
Multi-currency accounts with European IBANs for EUR, GBP, and over 20 other currencies
Instantly receive funds for faster working capital, and efficiently manage settlements with potentially lower costs
Secure customer funds with dedicated solutions for VASPs and financial firms
Flexible pay-ins and payouts via SEPA, SWIFT, open banking, and blockchain-based BMM processing
Turbo-charge your brand
Elevate your brand and streamline payments with Nuvei’s customizable physical and virtual cards, offering seamless and secure transactions across all channels.
We take care of all the back-office complications including card scheme approval, global regulatory compliance, technical setup and card manufacturing.
Tailor physical and virtual cards to promote your brand identity
Easily manage single-use or multi-use cards through one platform
Automate secure transactions for online, in-store, and in-app purchases
Manage vendor payments and scale operations cost-effectively with flexible card formats
Finance your business goals: no bank required
Your business moves fast. Make sure your financing can, too.
Access funds quickly to achieve your goals and seize more opportunities. No banks or red tape involved.
Up to $1 million per business location
Receive funds in under a week upon approval
Pre-qualify in just 3 minutes
No collateral required
Flexible repayment options
Maximize revenue with consumer credit options
Grow your business with industry-leading buy now, pay later options. Get paid upfront while offering customers flexible payment terms.
Make it easier for your customers to get what they need right now. Best of all, it's integrated seamlessly into the checkout experience.
Offer flexible installment plans for your customers
Give consumers the freedom to pay at their own pace
Increase customer conversions by offering more payment options
Prevent the majority of would-be chargebacks before they materialize. Transactions are protected with pre-chargeback mitigation, smart fraud-screening, alerts and communications.
Detect, control, and mitigate chargebacks
Reduce the costs of disputes and chargebacks with Nuvei Chargeback Resolve. Every chargeback actioned is centralized and managed through Nuvei’s Control Panel. The whole process maximizes transparency and efficiency.
Prevention - alerts and enhanced communication minimizes unnecessary disputes
Reduce operational costs - management chargebacks through one centralized dashboard
Preserve your reputation - avoid chargeback monitoring programs and additional fees associated with a high-risk label
Additional tools from Visa & Mastercard
Control disputes or chargebacks quickly and easily with integrated solutions from Visa and Mastercard.
Verifi Rapid Dispute Resolution® (Visa) - avoid chargebacks by issuing refunds and charging Nuvei directly with no clearing process
Ethoca® (Mastercard) - gives merchants 24 hours to review, respond and action chargebacks
Whether your customers want to do business with you online or in-store, we make it easier to do business with and encourage return visits.
Price your goods and services in the world’s most popular currencies
According to Insider Intelligence’s Global eCommerce report, 92% of customers prefer to buy from sites that price items in their local currency.
Make buying simple and frictionless for customers while receiving settlement and reporting in your domestic currency.
Expand your business into new territories
Enhance existing customer relationships
Zero investment or infrastructure changes
Earn additional revenue from FX markup and attract more international customers
By offering customers pricing in their domestic currency, you can make card purchasing transparent and trustworthy while earning a percentage commission.
From advanced fraud detection to industrial grade tokenization and KYC, Nuvei protects you and your customers.
Reduce payment fraud and chargebacks with Nuvei Shields Up
Transaction data is our greatest weapon in the fight against fraud. Crush false positives with a powerful set of customizable tools without compromising customer experience.
Set 200+ unique rules for your industry and market
Increase conversion rates and reduce fraud with Smart 3DS Routing
Automated decisioning using IP geo location and AVS / CVV rules
Chargeback dispute tool for efficient case creation and management
Smart Routing and Dynamic Descriptor to minimize potential chargebacks
Encrypt and access customer data for secure, frictionless payments
Replacing sensitive data with a secure token means faster and more secure payments that can help create a better customer experience.
Through a combination of our agnostic and network tokenization features, we offer one of the most flexible and complete solutions in the market.
Encrypt and store customer payment information to make the checkout experience secure and frictionless
Tokens are dynamically updated to deliver higher authorization rates, simplified fraud management, and an improved customer experience
Payment methods are updated in real-time so cardholder credentials stay current even if a physical card is locked due to fraud
Provides a better customer experience with fewer false declines due to outdated information
Ensure your security and compliance
We recognize the need for the highest security available to protect you and your customers. In compliance with PCI Data Security Standards, we have met and surpassed all requirements set forth as a Level 1 Service Provider.
Our technology and expert staff can help you reduce risk, chargebacks and simplify PCI DSS compliance.
Mitigate threats before they become an issue
Reduce effort and cost for Payment Card Industry (PCI) compliance
Access solutions to descope your PCI DSS requirements
Nuvei Optimize is your always‑on optimization engine. It quietly improves your conversions, reduces declines and recovers revenue at every stage of the transaction journey. Activate only the modules that match your strategy—so you’re always getting smarter, more efficient payments.
Remove unnecessary friction without compromising compliance
By optimizing your authentication strategy up front, you can balance security with speed, especially in markets with evolving regulations. Smarter authentication means your customers sail through checkout while you keep regulators and issuers happy.
3D Secure optimization: support for global and local 3DS schemes keeps your customers’ experience smooth
Exemptions management: smart logic applies exemptions where they make sense, so your genuine customers aren’t burdened by unnecessary steps
Soft decline handling: automatically initiates the 3DS flow when issuers require authentication, giving you another chance to convert
Send transactions through the rails that work hardest for you
Get the most out of every payment with intelligent routing that matches transactions to the best‑performing bank, network or local scheme. It’s orchestration that does the hard work for you, so you see more approvals without lifting a finger.
Direct scheme connections: enjoy more control and faster decisions by connecting directly to card networks
Local scheme routing: route transactions through local rails like Debit Routing (US), Cartes Bancaires (FR) or Bancontact (BE) to increase acceptance in local markets
Bank routing: dynamic logic based on card type, region and performance data ensures every transaction takes the most effective path
Make the moment of truth work harder for you
This is where approvals happen—or don’t. You maximize success by making transactions cleaner, more complete and easier for issuers to approve. When every detail counts, you’ll benefit from precision and smart enrichment.
Partial approval: capture what’s available so you never lose the sale
Account updater: keep card‑on‑file credentials fresh automatically, minimizing declines due to outdated details
Recover revenue with smarter retries
Not every payment goes through the first time. With Nuvei Optimize, failed transactions don’t mean failed revenue. Retry tools quietly re‑attempt declined payments, switch banks or offer a fallback method—all without disrupting your customer’s experience.
Auth messaging: adjust how a retry is presented to increase issuer acceptance
CVV reattempts: give soft-declined payments a second chance by re-validating credentials
Bank cascading: instantly try a backup bank for better recovery
Payment recovery: offer the customer an alternative method to complete the purchase
Full visibility. Real-time impact
Stay in control of your performance with the data, tools and expert support needed to keep things moving forward—even as the payment landscape evolves. Real‑time insights and hands‑on guidance help you make data-driven decisions, quickly.
Real-time insights: see what’s working and what isn’t so you can act immediately
Conversion analysts: hands‑on experts helping you launch and optimize your payment flows for peak performance
Collaborative issuer relations: benefit from direct relationships with issuers to improve logic and deliver better outcomes for your business
MONTREAL, November 2, 2022 – Nuvei Corporation (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces the appointment of Vicky Bindra as Chief Product and Operations Officer, effective November 14, 2022.
In this newly created role reporting to Nuvei Chair and CEO Phil Fayer, Bindra will oversee product development and operations, supporting growth across geographies and verticals. His focus will be on delivering custom-made solutions and supporting processes designed to accelerate revenue for Nuvei’s customers. He will be based in San Francisco.
Bindra joins Nuvei from his position of Chief Product Officer at FIS where he was responsible for the strategic product function across the company, identifying and creating products and propositions for merchants, banks, fintechs, insurance and investment companies.
Prior to FIS, he had a successful career in payment and fintech, including being CEO of Pine Labs, the Sequoia-backed Indian Fintech Unicorn. He also managed Mastercard’s business across APAC and MEA as its president prior to leading product and solutions globally at Visa.
Bindra started his career in finance and strategy consulting with various senior leadership roles including CEO of GE Capital India, EVP at Citi and as a partner at Bain & Company.
He took numerous non-executive director and advisor positions at, among others, Inchcape, Blackhawk Network, CloudPay and Billtrust. He is a chartered accountant and has an MBA from MIT’s Sloan School of Management.
“I am delighted to see Vicky getting on board. Our growth comes from our beautiful products and technology, and Vicky, with his expertise and deep understanding of our end market will help shape our future,” said Fayer. “He will also bring with him his warmth and positivity that will radiate through the organization,” Fayer added.
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company accelerating the business of clients around the world. Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 570 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
MONTREAL, June 9, 2023 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today the appointment of Laura Miller to a newly created role of Chief Revenue Officer and Global Head of eCommerce, reporting directly to Nuvei President Yuval Ziv.
An inspirational leader in the financial services industry with a proven track record of delivering success at the highest level, Miller joins Nuvei immediately to spearhead the company’s global commercial strategy across many of its key high growth target verticals. Her primary responsibilities will include developing Nuvei’s strengthening relationships with the leading enterprises in global eCommerce, as well as heading up its eCommerce commercial organization in North America, Europe, MEA, APAC and LATAM.
Miller joins at an exciting time for Nuvei as the company continues to demonstrate its enhanced proposition across diversified use cases in global eCommerce, B2B, ISV and Government. Recent Nuvei large enterprise commercial wins include Radisson Hotel Group, Sabre, Virgin Atlantic, Cart.com, and Shein.
Miller commented on the announcement: “I am thrilled to be joining Nuvei at such an important moment. The company is establishing great momentum with many of the world’s most significant eCommerce businesses, and I am eager to support accelerating its growth further. Nuvei is uniquely positioned to enable global businesses to scale internationally while optimizing their payments in regional markets, so I am looking forward to leveraging my experience working with many leading enterprise businesses as we go on this journey.”
Miller brings almost 25 years of expertise in strategic planning, sales leadership, and business development within the payments industry. Her deep understanding of the payments ecosystem will support Nuvei’s mission to provide innovative payment solutions that are tailored to the unique needs of global businesses and built to accelerate eCommerce growth.
Prior to joining Nuvei, Miller held prominent positions at several leading, global financial institutions. Most recently, she served as President, JPMorgan Merchant Services, overseeing the bank’s commercial relationships with its largest global customers. Before joining JPMorgan Chase & Co., Miller held senior leadership positions at American Express, where she played a key role in driving sales growth and client management in the commercial card segment. Throughout her esteemed career, Laura has demonstrated expertise in leading large sales organizations, implementing sales strategies, and expanding client relationships.
“We are excited to welcome Laura to the Nuvei team,” commented Nuvei’s President Yuval Ziv. “Laura is a highly skilled and experienced leader with a deep understanding of the payments industry. She is also a strong advocate for businesses and has a proven track record of success in helping them accelerate growth which matches our mission at Nuvei. I have every confidence that Laura will be a key contributor to helping Nuvei achieve our ambitious goals.”
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company accelerating the business of clients around the world. Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 47+ markets, 150 currencies and more than 600 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
MONTREAL, May 31, 2021 –Nuvei Corporation (“Nuvei” or the “Company”) (TSX: NVEI and NVEI.U) today announced that shareholders voted in favour of all items of business put forth by the Company at its annual shareholders’ meeting held on May 28, 2021 (the “Meeting”).
Voting Results of the Meeting
Election of Directors
The five (5) nominees for directors were elected by a majority of the votes cast by the shareholders present or represented by proxy at the Meeting. The votes cast for each nominee were as follows:
NomineesVotes ForPercentage of Votes ForVotes WithheldPercentage of Votes Withheld(a) Philip Fayer855,927,75999.98%195,6990.02%(b) Michael Hanley854,984,76499.87%1,138,3100.13%(c) David Lewin855,785,02399.96%338,0510.04%(d) Daniela Mielke856,088,12299.99%34,9520.01%(e) Pascal Tremblay855,451,94199.92%671,1330.08%
Appointment of Auditors
PricewaterhouseCoopers LLP, chartered accountants, were appointed as auditors of the Company by a majority of the votes cast by the shareholders present or represented by proxy at the Meeting. The votes cast were as follows:
Votes ForPercentage of Votes ForVotes WithheldPercentage of Votes Withheld859,234,53199.99%18,4870.01%
Final voting results on all matters voted at the Meeting are available on SEDAR at www.sedar.com.
Appointment of Lindsay Matthews as General Counsel and Corporate Secretary
Nuvei announced that Lindsay Matthews will be joining its management team as General Counsel and Corporate Secretary effective today, May 31, 2021.
Ms. Matthews has over 23 years of broad legal experience in corporate, securities and commercial law, as well as in M&A and corporate governance, both as in-house counsel and in private practice. She was most recently Vice-President, General Counsel and Corporate Secretary of Gildan Activewear Inc., where she led the global legal team since 2010. Prior to joining Gildan in 2004, Ms. Matthews practised corporate and securities law at Ogilvy Renault (now Norton Rose Fulbright). Ms. Matthews holds a B.C.L. and LL.B. from the McGill University Faculty of Law as well as a B.A. from Northwestern University.
About Nuvei
We are Nuvei (TSX: NVEI and NVEI.U), the global payment technology partner of thriving brands. We provide the intelligence and technology businesses need to succeed locally and globally, through one integration – propelling them further, faster. Uniting payment technology and consulting, we help businesses remove payment barriers, optimize operating costs and increase acceptance rates. Our proprietary platform provides seamless pay-in and payout capabilities, connecting merchants with their customers in 200 markets worldwide with local acquiring in 44 markets. With support for over 470 local and alternative payment methods, nearly 150 currencies and 40 cryptocurrencies, merchants can capture every payment opportunity that comes their way. Our purpose is to make our world a local marketplace. For more information, visit www.nuvei.com.
Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information involves known and unknown risks and uncertainties, many of which are beyond the Company’s control, that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include but are not limited to those described under the “Risks Factors” section of the Company’s annual information form filed on March 17, 2021. Forward-looking information is based on management’s beliefs and assumptions and on information currently available to management. Although the forward-looking information contained in this press release is based upon what management believes are reasonable assumptions, you are cautioned against placing undue reliance on this information since actual results may vary from the forward-looking information. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained in this press release is provided as of the date of this press release, and the Company does not undertake to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.
Contact:
Investors Anthony Gerstein Vice President, Head of Investor Relations agerstein@nuvei.com
MONTREAL, NOVEMBER 12, 2024 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, today reported its financial results for the three and nine months ended September 30, 2024.
“We are pleased to report third quarter financial results that underscore the rapid scaling of our business, with total volume increasing 27% and revenue higher by 17% year-over-year, setting us up well to achieve our targeted growth in the quarters and years ahead as we deliver more differentiated value across our global payment solutions platform,” said Philip Fayer, Nuvei Chair and CEO. “Our business remains highly profitable, with third quarter margins reflecting opportunistic investments to expand our global footprint. As we look to finalize our pending take-private, we are already executing on a highly compelling value creation plan, and we have initiated the process of adding 300-plus new roles across our product, technology, and commercial teams,” concluded Fayer.
Financial Highlights for the Three Months Ended September 30, 2024 Compared to 2023:
Total volume(a) increased by 27% to $61.3 billion from $48.2 billion;
Revenue increased by 17% to $357.6 million from $304.9 million;
Net income increased to $17.2 million from a net loss of $18.1 million;
Adjusted EBITDA(b) decreased by 2% to $108.8 million from $110.7 million;
Adjusted net income(b) decreased by 8% to $52.3 million from $56.8 million;
Net income per diluted share increased to $0.10 from a net loss per diluted share of $0.14;
Adjusted net income per diluted share(b) decreased by 13% to $0.34 from $0.39;
Adjusted EBITDA less capital expenditures(b) decreased to $92.6 million from $97.5 million.
Financial Highlights for the Nine Months Ended September 30, 2024 Compared to 2023:
Total volume(a) increased by 30% to $183.1 billion from $141.2 billion;
Revenue increased 20% to $1,038.2 million from $868.4 million;
Net income increased to $17.8 million from a net loss of $14.8 million;
Adjusted EBITDA(b) increased by 7% to $340.4 million from $317.3 million;
Adjusted net income(b) decreased by 1% to $177.4 million from $179.3 million;
Net income per diluted share increased to $0.08 from a net loss per diluted share of $0.14;
Adjusted net income per diluted share(b) decreased by 4% to $1.16 from $1.21;
Adjusted EBITDA less capital expenditures(b)increased by 4% to $288.0 million from $277.0 million; and,
Cash dividends declared were $42.3 million.
(a) Total volume does not represent revenue earned by the Company, but rather the total dollar value of transactions processed by merchants under contractual agreement with the Company. See “Non-IFRS and Other Financial Measures”.
(b) Adjusted EBITDA, Adjusted net income, Adjusted net income per diluted share and Adjusted EBITDA less capital expenditures are non-IFRS measures and non-IFRS ratios. These measures are not recognized measures under IFRS and do not have standardized meanings prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. See “Non-IFRS and Other Financial Measures”.
Proposed take private transaction
As previously announced, on April 1, 2024 the Company entered into a definitive arrangement agreement to be taken private by Advent International (“Advent”), one of the world’s largest and most experienced global private equity investors, as well as a longstanding sponsor in the payments space, alongside existing Canadian shareholders Philip Fayer, certain investment funds managed by Novacap Management Inc. and Caisse de dépôt et placement du Québec, in an all-cash transaction which values the Company at an enterprise value of approximately $6.3 billion (the “Proposed transaction”). Advent will acquire all the issued and outstanding Subordinate Voting Shares and any Multiple Voting Shares (collectively the “Shares”) that are not Rollover Shares , for a price of $34.00 per Share, in cash. This price represents an attractive and significant premium of approximately 56% to the closing price of the Subordinate Voting Shares on the Nasdaq Global Select Market (“Nasdaq”) on March 15, 2024, the last trading day prior to media reports concerning a potential transaction involving the Company, and a premium of approximately 48% to the 90-day volume weighted average trading price per Subordinate Voting Share as of such date.
The Proposed transaction will be implemented by way of a statutory plan of arrangement under the Canada Business Corporations Act. The Proposed transaction was approved by shareholders at a special meeting held on June 18, 2024 and received court approval on June 20, 2024. The Proposed transaction remains subject to customary closing conditions, including receipt of key regulatory approvals (a majority of which were received and/or for which the waiting period has expired as of the date hereof, with a limited number of approvals remaining outstanding), is not subject to any financing condition and, assuming the timely receipt of all required key regulatory approvals, is expected to close in the fourth quarter of 2024.
Following completion of the transaction, it is expected that the Subordinate Voting Shares will be delisted from each of the Toronto Stock Exchange and the Nasdaq and that Nuvei will cease to be a reporting issuer in all applicable Canadian jurisdictions and will deregister the Subordinate Voting Shares with the U.S. Securities and Exchange Commission (the “SEC”).
Cash Dividend
Nuvei today announced that its Board of Directors has authorized and declared a cash dividend of $0.10 per Subordinate Voting Share and Multiple Voting Share, payable on December 12, 2024 to shareholders of record on November 26, 2024. The aggregate amount of the dividend is expected to be approximately $14 million, to be funded from the Company’s existing cash on hand. In accordance with the Plan of arrangement, shareholders are entitled to dividends with a record date prior to the effective date of the Proposed transaction. Should the Proposed transaction be completed before the record date, the dividend will not be paid. Accordingly, payment of the dividend will be made on December 12, 2024 if the Proposed transaction is not completed prior to the record date of November 26, 2024.
The Company, for the purposes of the Income Tax Act (Canada) and any similar provincial or territorial legislation, designates the dividend declared for the quarter ended September 30, 2024, and any future dividends, to be eligible dividends. The Company further expects to report such dividends as a dividend to U.S. shareholders for U.S. federal income tax purposes. Subject to applicable limitations, dividends paid to certain non-corporate U.S. shareholders may be eligible for taxation as “qualified dividend income” and therefore may be taxable at rates applicable to long-term capital gains. A U.S. shareholder should talk to its advisor regarding such dividends, including with respect to the “extraordinary dividend” provisions of the Internal Revenue Code (US).
The declaration, timing, amount and payment of future dividends remain at the discretion of the Board of Directors, as more fully described under the heading “Forward-Looking Information” of this press release.
Conference Call, Financial Outlook and Growth Targets
In light of the Proposed transaction, Nuvei no longer holds earnings conference calls or provides a financial outlook or growth targets.
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company accelerating the business of clients around the world. Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 50 markets, 150 currencies and 720 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
Nuvei’s condensed interim consolidated financial statements have been prepared in accordance with IFRS applicable to the preparation of interim financial statements, including IAS 34, Interim Financial Reporting, as issued by the IASB. The information presented in this press release includes non-IFRS financial measures, non-IFRS financial ratios and supplementary financial measures, namely Adjusted EBITDA, Adjusted net income, Adjusted net income per basic share, Adjusted net income per diluted share, Adjusted EBITDA less capital expenditures and Total volume. These measures are not recognized measures under IFRS and do not have standardized meanings prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement IFRS measures by providing further understanding of our results of operations from our perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of the Company’s financial statements reported under IFRS. These measures are used to provide investors with additional insight of our operating performance and thus highlight trends in Nuvei’s business that may not otherwise be apparent when relying solely on IFRS measures. We also believe that securities analysts, investors and other interested parties frequently use these non-IFRS and other financial measures in the evaluation of issuers. We also use these measures to facilitate operating performance comparisons from period to period, to prepare annual operating budgets and forecasts and to determine components of management compensation. We believe these measures are important additional measures of our performance, primarily because they and similar measures are used widely among others in the payment technology industry as a means of evaluating a company’s underlying operating performance.
Non-IFRS Financial Measures
Adjusted EBITDA: We use Adjusted EBITDA as a means to evaluate operating performance, by eliminating the impact of non-operational or non-cash items. Adjusted EBITDA is defined as net income (loss) before finance costs (recovery), finance income, depreciation and amortization, income tax expense, acquisition, integration and severance costs, share-based payments and related payroll taxes, loss (gain) on foreign currency exchange, and legal settlement and other.
Adjusted EBITDA less capital expenditures: We use Adjusted EBITDA less capital expenditures (which we define as acquisition of intangible assets and property and equipment) as a supplementary indicator of our operating performance.
Adjusted net income: We use Adjusted net income as an indicator of business performance and profitability with our current tax and capital structure. Adjusted net income is defined as net income (loss) before acquisition, integration and severance costs, share-based payments and related payroll taxes, loss (gain) on foreign currency exchange, amortization of acquisition-related intangible assets, and the related income tax expense or recovery for these items. Adjusted net income also excludes change in redemption value of liability-classified common and preferred shares, change in fair value of share repurchase liability and accelerated amortization of deferred financing fees and legal settlement and other.
Non-IFRS Financial Ratios
Adjusted net income per basic share and per diluted share: We use Adjusted net income per basic share and per diluted share as an indicator of performance and profitability of our business on a per share basis. Adjusted net income per basic share and per diluted share means Adjusted net income less net income attributable to non-controlling interest divided by the basic and diluted weighted average number of common shares outstanding for the period, respectively. The number of share-based awards used in the diluted weighted average number of common shares outstanding in the Adjusted net income per diluted share calculation is determined using the treasury stock method as permitted under IFRS.
Supplementary Financial Measures
We monitor the following key performance indicators to help us evaluate our business, measure our performance, identify trends affecting our business, formulate business plans and make strategic decisions. Our key performance indicators may be calculated in a manner that differs from similar key performance indicators used by other companies.
Total volume: We believe Total volume is an indicator of performance of our business. Total volume and similar measures are used widely among others in the payments industry as a means of evaluating a company’s performance. We define Total volume as the total dollar value of transactions processed in the period by customers under contractual agreement with us. Total volume does not represent revenue earned by us. Total volume includes acquiring volume, where we are in the flow of funds in the settlement transaction cycle, gateway/technology volume, where we provide our gateway/technology services but are not in the flow of funds in the settlement transaction cycle, as well as the total dollar value of transactions processed relating to APMs and payouts. Since our revenue is primarily sales volume and transaction-based, generated from merchants’ daily sales and through various fees for value-added services provided to our customers, fluctuations in Total volume will generally impact our revenue.
Forward-Looking Information
This press release contains “forward-looking information” and “forward-looking statements” (collectively, “Forward-looking information”) within the meaning of applicable securities laws. Such forward-looking information may include, without limitation, information with respect to our objectives and the strategies to achieve these objectives, as well as information with respect to our beliefs, plans, expectations, anticipations, estimates and intentions. This forward-looking information is identified by the use of terms and phrases such as “may”, “would”, “should”, “could”, “expect”, “intend”, “estimate”, “anticipate”, “plan”, “foresee”, “believe”, or “continue”, the negative of these terms and similar terminology, including references to assumptions, although not all forward-looking information contains these terms and phrases. Particularly, information regarding our expectations of future results, performance, achievements, prospects or opportunities or the markets in which we operate, expectations regarding industry trends and the size and growth rates of addressable markets, our business plans and growth strategies, addressable market opportunity for our solutions, expectations regarding growth and cross-selling opportunities and intention to capture an increasing share of addressable markets, the costs and success of our sales and marketing efforts, intentions to expand existing relationships, further penetrate verticals, enter new geographical markets, expand into and further increase penetration of international markets, intentions to selectively pursue and successfully integrate acquisitions, and expected acquisition outcomes, cost savings, synergies and benefits, including with respect to the acquisition of Paya, future investments in our business and anticipated capital expenditures, our intention to continuously innovate, differentiate and enhance our platform and solutions, expected pace of ongoing legislation of regulated activities and industries, our competitive strengths and competitive position in our industry, and expectations regarding our revenue, revenue mix and the revenue generation potential of our solutions and expectations regarding our margins and future profitability, as well as statements regarding the Proposed transaction with Advent International L.P., alongside existing Canadian shareholders Philip Fayer, certain investment funds managed by Novacap Management Inc., and Caisse de dépôt et placement du Québec, including the proposed timing and various steps contemplated in respect of the transaction and statements regarding the plans, objectives, and intentions of Philip Fayer, certain investment funds managed by Novacap Management Inc., Caisse de dépôt et placement du Québec or Advent, are forward-looking information. Economic and geopolitical uncertainties, including regional conflicts and wars, including potential impacts of sanctions, may also heighten the impact of certain factors described herein.
In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events or circumstances.
Forward-looking information is based on management's beliefs and assumptions and on information currently available to management, regarding, among other things, assumptions regarding foreign exchange rate, competition, political environment and economic performance of each region where the Company operates and general economic conditions and the competitive environment within our industry, including the following assumptions: (a) the Company will continue to effectively execute against its key strategic growth priorities, without any material adverse impact from macroeconomic or geopolitical headwinds on its or its customers' business, financial condition, financial performance, liquidity or any significant reduction in demand for its products and services, (b) the economic conditions in our core markets, geographies and verticals, including resulting consumer spending and employment, remaining at close to current levels, (c) assumptions as to foreign exchange rates and interest rates, including inflation, (d) the Company's continued ability to manage its growth effectively, (e) the Company's ability to continue to attract and retain key talent and personnel required to achieve its plans and strategies, including sales, marketing, support and product and technology operations, in each case both domestically and internationally, (f) the Company’s ability to successfully identify, complete, integrate and realize the expected benefits of past and recent acquisitions and manage the associated risks, as well as future acquisitions, (g) the absence of adverse changes in legislative or regulatory matters, (h) the Company’s continued ability to upskill and modify its compliance capabilities as regulations change or as the Company enters new markets or offers new products or services, (i) the Company’s continued ability to access liquidity and capital resources, including its ability to secure debt or equity financing on satisfactory terms, and (j) the absence of adverse changes in current tax laws. Unless otherwise indicated, forward-looking information does not give effect to the potential impact of any mergers, acquisitions, divestitures or business combinations that may be announced or closed after the date hereof. Although the forward-looking information contained herein is based upon what we believe are reasonable assumptions, investors are cautioned against placing undue reliance on this information since actual results may vary from the forward-looking information.
Forward-looking information involves known and unknown risks and uncertainties, many of which are beyond our control, that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, the risk factors described in greater detail under “Risk Factors” of the Company's annual information form ("AIF") and the “Risk Factor’s” in the Company’s management’s discussion and analysis of financial condition and results of operations for the three and nine months ended September 30, 2024 (“MD&A”), such as: risks relating to our business, industry and overall economic uncertainty; the rapid developments and change in our industry; substantial competition both within our industry and from other payments providers; challenges implementing our growth strategy; challenges to expand our product portfolio and market reach; changes in foreign currency exchange rates, interest rates, consumer spending and other macroeconomic factors affecting our customers and our results of operations; challenges in expanding into new geographic regions internationally and continuing our growth within our markets; challenges in retaining existing customers, increasing sales to existing customers and attracting new customers; reliance on third-party partners to distribute some of our products and services; risks associated with future acquisitions, partnerships or joint-ventures; challenges related to economic and political conditions, business cycles and credit risks of our customers, such as wars like the Russia-Ukraine and Middle East conflicts and related economic sanctions; the occurrence of a natural disaster, a widespread health epidemic or pandemic or other similar events; history of net losses and additional significant investments in our business; our level of indebtedness; challenges to secure financing on favorable terms or at all; difficulty to maintain the same rate of revenue growth as our business matures and to evaluate our future prospects; inflation; challenges related to a significant number of our customers being small and medium businesses ("SMBs"); a certain degree of concentration in our customer base and customer sectors; compliance with the requirements of payment networks; reliance on, and compliance with, the requirements of acquiring banks and payment networks; challenges related to the reimbursement of chargebacks from our customers; financial liability related to the inability of our customers (merchants) to fulfill their requirements; our bank accounts being located in multiple territories and relying on banking partners to maintain those accounts; decline in the use of electronic payment methods; loss of key personnel or difficulties hiring qualified personnel; deterioration in relationships with our employees; impairment of a significant portion of intangible assets and goodwill; increasing fees from payment networks; misappropriation of end-user transaction funds by our employees; frauds by customers, their customers or others; coverage of our insurance policies; the degree of effectiveness of our risk management policies and procedures in mitigating our risk exposure; the integration of a variety of operating systems, software, hardware, web browsers and networks in our services; the costs and effects of pending and future litigation; various claims such as wrongful hiring of an employee from a competitor, wrongful use of confidential information of third parties by our employees, consultants or independent contractors or wrongful use of trade secrets by our employees of their former employers; deterioration in the quality of the products and services offered; managing our growth effectively; challenges from seasonal fluctuations on our operating results; changes in accounting standards; estimates and assumptions in the application of accounting policies; risks associated with less than full control rights of some of our subsidiaries and investments; challenges related to our holding company structure; impacts of climate change; development of AI and its integration in our operations, as well as risks relating to intellectual property and technology, risks related to data security incidents, including cyber-attacks, computer viruses, or otherwise which may result in a disruption of services or liability exposure; challenges regarding regulatory compliance in the jurisdictions in which we operate, due to complex, conflicting and evolving local laws and regulations and legal proceedings and risks relating to our Subordinate Voting Shares. [These risks and uncertainties further include (but are not limited to) as concerns the Proposed transaction with Advent, the failure of the parties to obtain the necessary regulatory approvals or to otherwise satisfy the conditions to the completion of the transaction, failure of the parties to obtain such approvals or satisfy such conditions in a timely manner, significant transaction costs or unknown liabilities, failure to realize the expected benefits of the transaction, and general economic conditions. Failure to obtain the necessary regulatory approvals, or the failure of the parties to otherwise satisfy the conditions to the completion of the transaction or to complete the transaction, may result in the transaction not being completed on the proposed terms, or at all.] In addition, if the transaction is not completed, and the Company continues as a publicly-traded entity, there are risks that the announcement of the Proposed transaction and the dedication of substantial resources of the Company to the completion of the transaction could have an impact on its business and strategic relationships (including with future and prospective employees, customers, suppliers and partners), operating results and activities in general, and could have a material adverse effect on its current and future operations, financial condition and prospects. Furthermore, in certain circumstances, the Company may be required to pay a termination fee pursuant to the terms of the arrangement agreement which could have a material adverse effect on its financial position and results of operations and its ability to fund growth prospects and current operations.
Our dividend policy is at the discretion of the Board. Any future determination to declare cash dividends on our securities will be made at the discretion of our Board, subject to applicable Canadian laws, and will depend on a number of factors, including our financial condition, results of operations, capital requirements, contractual restrictions (including covenants contained in our credit facilities), general business conditions and other factors that our Board may deem relevant. Further, our ability to pay dividends, as well as make share repurchases, will be subject to applicable laws and contractual restrictions contained in the instruments governing our indebtedness, including our credit facility. Any of the foregoing may have the result of restricting future dividends or share repurchases.
Consequently, all of the forward-looking information contained herein is qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained herein represents our expectations as of the date hereof or as of the date it is otherwise stated to be made, as applicable, and is subject to change after such date. However, we disclaim any intention or obligation or undertaking to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.
(i) professional, legal, consulting, accounting and other fees and expenses related to our acquisition and financing activities, including the expenses related to the Proposed transaction. For the three months and nine months ended September 30, 2024, these expenses were $2.4 million and $16.8 million ($3.4 million and $23.0 million for the three months and nine months ended September 30, 2023). These costs are presented in the professional fees line item of selling, general and administrative expenses.
(ii) acquisition-related compensation was $0.7 million and $2.4 million for the three months and nine months ended September 30, 2024 and $0.6 million and $3.5 million for the three months and nine months ended September 30, 2023. These costs are presented in the employee compensation line item of selling, general and administrative expenses.
(iii) change in deferred purchase consideration for previously acquired businesses. No amount was recognized for the three months and nine months ended September 30, 2024 and 2023. These amounts are presented in the contingent consideration adjustment line item of selling, general and administrative expenses.
(iv) severance and integration expenses, which were $4.6 million and $5.1 million for the three months and nine months ended September 30, 2024 ($1.1 million and $10.6 million for three months and nine months ended September 30, 2023). These expenses are presented in selling, general and administrative expenses and cost of revenue.
(b) These expenses are recognized in connection with stock options and other awards issued under share-based plans as well as related payroll taxes that are directly attributable to share-based payments. For the three months and nine months ended September 30, 2024, the expenses consisted of non-cash share-based payments of $14.9 million and $65.3 million ($34.0 million and $105.5 million for the three months and nine months ended September 30, 2023), $0.5 million and $4.9 million for related payroll taxes ($0.1 million and $0.9 million for the three months and nine months ended September 30, 2023),
(c) This primarily represents legal settlements and associated legal costs, as well as non-cash gains, losses and provisions and certain other costs. These costs are presented in selling, general and administrative expenses. For the nine months ended September 30, 2024, the gain consisted mainly of a gain on business combination of $4.0 million.
(a) This line item relates to amortization expense taken on intangible assets created from the purchase price adjustment process on acquired companies and businesses and resulting from a change in control of the Company.
(b) These expenses relate to:
(i) professional, legal, consulting, accounting and other fees and expenses related to our acquisition and financing activities, including the expenses related to the Proposed transaction. For the three months and nine months ended September 30, 2024, these expenses were $2.4 million and $16.8 million ($3.4 million and $23.0 million for the three months and nine months ended September 30, 2023). These costs are presented in the professional fees line item of selling, general and administrative expenses.
(ii) acquisition-related compensation was $0.7 million and $2.4 million for the three months and nine months ended September 30, 2024 and $0.6 million and $3.5 million for the three months and nine months ended September 30, 2023. These costs are presented in the employee compensation line item of selling, general and administrative expenses.
(iii) change in deferred purchase consideration for previously acquired businesses. No amount was recognized for the three months and nine months ended September 30, 2024 and 2023. These amounts are presented in the contingent consideration adjustment line item of selling, general and administrative expenses.
(iv) severance and integration expenses, which were $4.6 million and $5.1 million for the three months and nine months ended September 30, 2024 ($1.1 million and $10.6 million for the three months and nine months ended September 30, 2023). These expenses are presented in selling, general and administrative expenses and cost of revenue.
(c) These expenses are recognized in connection with stock options and other awards issued under share-based plans as well as related payroll taxes that are directly attributable to share-based payments. For the three months and nine months ended September 30, 2024, the expenses consisted of non-cash share-based payments of $14.9 million and $65.3 million ($34.0 million and $105.5 million for the three months and nine months ended September 30, 2023), $0.5 million and $4.9 million for related payroll taxes ($0.1 million and $0.9 million for the three months and nine months ended September 30, 2023).
(d) This primarily represents legal settlements and associated legal costs, as well as non-cash gains, losses and provisions and certain other costs. These costs are presented in selling, general and administrative expenses. For the nine months ended September 30, 2024, the gain consisted mainly of a gain on business combination of $4.0 million.
(e) This line item reflects income tax expense on taxable adjustments using the tax rate of the applicable jurisdiction.
(f) The number of share-based awards used in the diluted weighted average number of common shares outstanding in the Adjusted net income per diluted share calculation is determined using the treasury stock method as permitted under IFRS.
MONTREAL, November 3, 2022 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, today reported its financial results for the three and nine months ended September 30, 2022.
“We are pleased with our results for the quarter, which exceeded the financial outlook previously provided. Results were driven by higher volumes and wallet share expansion as reflected in our constant currency volume growth of 38%, new client wins, our continued investment in technology and product offerings, and our geographic expansion,” said Philip Fayer, Nuvei’s Chair and CEO.
“We’re executing on our strategic initiatives and with the momentum we’re experiencing in the business year-to-date through October, we are increasing certain metrics as well as reaffirming the outlook for the full year 2022. We are also reiterating our medium and long-term targets.”
Financial Highlights for the Three Months Ended September 30, 2022
Total volume(1) increased 30% to $28.0 billion from $21.6 billion;
eCommerce represented 87% of total volume;
Total volume growth at constant currency(1) was 38% with Total volume at constant currency(1) increasing to $29.7 billion from $21.6 billion;
Revenue increased 7% to $197.1 million from $183.9 million;
Revenue was impacted unfavorably by changes in foreign currency exchange rates year-over-year by $11.5 million;
Revenue growth at constant currency(2) was 13% with Revenue at constant currency(2) increasing to $208.6 million from $183.9 million;
Net income decreased by 54% to $13.0 million from $28.0 million, primarily due to a $22.6 million increase in share-based payments;
Adjusted EBITDA(2) increased to $81.2 million from $80.9 million;
Adjusted EBITDA was impacted unfavorably by changes in foreign currency exchange rates year-over-year by approximately $5 million;
Adjusted net income(2) increased to $62.4 million from $62.3 million;
Net income per diluted share decreased by 58% to $0.08 compared to $0.19;
Adjusted net income(2) per diluted share increased to $0.43 compared to $0.42; and
Adjusted EBITDA less capital expenditures(2) decreased by 8% to $68.5 million from $74.5
Financial Highlights for the Nine Months Ended September 30, 2022
Total volume(1) increased 36% to $87.4 billion from $64.1 billion;
eCommerce represented 87% of total volume;
Total volume growth at constant currency(1) was 42% with Total volume at constant currency(1) increasing to $90.9 billion from $64.1 billion;
Revenue increased 22% to $623.0 million from $512.7 million;
Revenue was impacted unfavorably by changes in foreign currency exchange rates year-over-year by $28.3 million;
Revenue growth at constant currency(2) was 27% with Revenue at constant currency(2) increasing to $651.3 million from $512.7 million;
Net income decreased to $52.6 million from net income of $94.7 million, primarily due to a $83.4 million increase in share-based payments;
Adjusted EBITDA(2) increased by 18% to $265.6 million from $225.8 million;
Adjusted net income(2) increased by 16% to $206.2 million from $178.0 million;
Net income per diluted share decreased by 47% to $0.34 from $0.64;
Adjusted net income(2) per diluted share increased by 14% to $1.39 from $1.22;
Adjusted EBITDA less capital expenditures(2) increased by 11% to $231.8 million from $208.3 million; and
Cash balance of $754 million at September 30, 2022 compared to $749 million at December 31, 2021, mainly due to cash generation being offset by the repurchase and cancellation of approximately 8 million Subordinate Voting Shares for total consideration, including transaction costs, of $109 million.
(1) Total volume and Total volume at constant currency do not represent revenue earned by the Company, but rather the total dollar value of transactions processed by merchants under contractual agreement with the Company. See “Non-IFRS and Other Financial Measures”.
(2) Adjusted EBITDA, Revenue at constant currency, Revenue growth at constant currency, Adjusted net income, Adjusted net income per diluted share and Adjusted EBITDA less capital expenditures are non-IFRS measures and non-IFRS ratios. These measures are not recognized measures under IFRS and do not have standardized meanings prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. See “Non-IFRS and Other Financial Measures”.
Operational Highlights
Revenue for the third quarter of 2022 increased 4% to $105.5 million in Europe, the Middle East and Africa, increased 9% to $83.1 million in North America, increased 28% to $7.6 million in Latin America, and increased 47% to $1.0 million in Asia Pacific.
North America eCommerce direct revenue increased 40% to $25.6 million in this year’s third quarter from last year’s third quarter, representing approximately 30% of total North America revenue.
With respect to advancements in technology and product innovation, Nuvei:
Enhanced its platform architecture and infrastructure to support a greater number of transactions per second than previously, accommodate local data protection residency rules further enabling the Company to expand in more countries around the world, and offer segregated environments for large customers should it be a requirement.
Launched “Nuvei for Platforms” accelerating its marketplace offering with its fully customizable solution supporting complete functionality of its modular platform via a single integration.
Enhanced its payment orchestration platform with a self-service routing manager allowing customers to choose the routing of transactions amongst different acquirers based on their preferences using the Company’s data analytics.
Launched several additional products including Account Updater in Europe, Mastercard tokenization, Visa Account Funding Transaction Support, its partnership with Visa for buy now pay later in Canada, and its enhanced risk services and reporting offerings.
Nuvei added multiple new alternative payment methods (“APMs”) increasing its portfolio to 586 at the end of the third quarter, expanding access and allowing its customers to accept more forms of regionally familiar and preferred digital payment method
Nuvei received its gaming license in Maryland and Kansas, as well as a money transmitter license in Puerto Rico, expanding its online gaming reach in the United States.
Nuvei expanded it executive leadership team with the hiring of Vicky Bindra in the newly created position of Chief Operating and Product Officer.
The Company added 66 new team members in the third quarter of 2022, ending with 1,636 employees at September 30, 2022 compared with 1,368 employees at December 31, 2021.
Financial Outlook(3)
For the three months ending December 31, 2022 and the fiscal year ending December 31, 2022, Nuvei anticipates Total volume(1), Revenue, Revenue in constant currency and Adjusted EBITDA(2) to be in the ranges below.
The financial outlook, including the various underlying assumptions, constitute forward-looking information within the meaning of applicable securities laws and is fully qualified and based on a number of assumptions and subject to a number of risks described under the headings “Forward-Looking Information” and “Financial Outlook and Growth Targets Assumptions” of this press release.
Three months ending December 31,
Year ending December 31,
2022
2022
Forward-looking
Forward-looking
Forward-looking
Previous
Revised
(In U.S. dollars)
$
$
$
Total volume(1) (in billions)
33 – 35
117 – 121
120 – 122
Revenue (in millions)
197 – 227
820 – 850
820 – 850
Revenue at constant currency(2) (in millions)
210 – 234
855 – 885
861 – 885
Adjusted EBITDA(2) (in millions)
75 – 84
335 – 350
341 – 350
Growth Targets
Nuvei’s medium-term(4) annual growth targets for Total volume(1) and revenue, as well as its long-term target for Adjusted EBITDA margin(2), are shown in the table below. These medium(4) and long-term(4) targets should not be considered as projections, forecasts or expected results but rather goals that we seek to achieve from the execution of our strategy over time, and at a further stage of business maturity, through geographic expansion, product innovation, growing wallet share with existing customers and new customer wins, as more fully described under the heading “Summary of Factors Affecting our Performance” of our most recent Management’s Discussion and Analysis of Financial Condition and Results of Operations. These growth targets, including the various underlying assumptions, constitute forward-looking information within the meaning of applicable securities laws and are fully qualified and based on a number of assumptions and subject to a number of risks described under the headings “Forward-Looking Information” and “Financial Outlook and Growth Targets Assumptions” of this press release. We will review and revise these growth targets as economic, market and regulatory environments change.
Growth Targets
Total volume(1)
30%+ annual year-over-year growth in the medium-term(4)
Revenue
30%+ annual year-over-year growth in the medium-term(4)
Adjusted EBITDA margin(2)
50%+ over the long-term(4)
(1) Total volume do not represent revenue earned by the Company, but rather the total dollar value of transactions processed by merchants under contractual agreement with the Company. See “Non-IFRS and Other Financial Measures” below.
(2) Revenue at constant currency, Revenue growth at constant currency, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income, Adjusted net income per diluted share and Adjusted EBITDA less capital expenditures are non-IFRS measures. See “Non-IFRS and Other Financial Measures”.
(3) Other than with respect to revenue, the Company only provides guidance on a non-IFRS basis. The Company does not provide a reconciliation of forward-looking revenue at constant currency (non-IFRS), Adjusted EBITDA (non-IFRS) to net income (loss) due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation. In periods where significant acquisitions or divestitures are not expected, the Company believes it might have a basis for forecasting the IFRS equivalent for certain costs, such as employee benefits, commissions and depreciation and amortization. However, because other deductions such as share-based payments, net finance costs, gain (loss) on financial instruments carried at fair market value and current and deferred income taxes used to calculate projected net income (loss) can vary significantly based on actual events, the Company is not able to forecast on an IFRS basis with reasonable certainty all deductions needed in order to provide an IFRS calculation of projected net income (loss). The amount of these deductions may be material and, therefore, could result in projected IFRS net income (loss) being materially less than projected Adjusted EBITDA (non-IFRS). These statements represent forward-looking information and may represent a financial outlook, and actual results may vary. See the risk and assumptions described under the headings “Forward-looking information” and “Financial Outlook and Growth Targets Assumptions” of this press release.
(4) The Company defines “Medium-term” as between three and five years and “long-term” as five to seven years.
ConferenceCall Information
Nuvei will host a conference call to discuss its third quarter 2022 financial results today, Thursday, November 3, 2022 at 8:30 am ET. Hosting the call will be Philip Fayer, Chair and CEO, and David Schwartz, CFO.
The conference call will be webcast live from the Company’s investor relations website at https://investors.nuvei.com under the “Events & Presentations” section. A replay will be available on the investor relations website following the call.
The conference call can also be accessed live over the phone by dialing 844-826-3033 (US/Canada toll-free), or 412-317-5185 (international). A replay will be available one hour after the call and can be accessed by dialing 844-512-2921 (US/Canada toll-free), or 412-317-6671 (international); the conference ID is 10171461. The replay will be available through Tuesday, November 17, 2022.
About Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company accelerating the business of clients around the world. Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 47 markets, 150 currencies and 586 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.
For more information, visit www.nuvei.com
Non-IFRS and Other Financial Measures
Nuvei’s unaudited condensed interim consolidated financial statements have been prepared in accordance with IFRS applicable to the preparation of interim financial statements, including International Accounting Standard (“IAS”) 34, Interim Financial Reporting, as issued by the International Accounting Standards Board. The information presented in this press release includes non-IFRS financial measures, non-IFRS financial ratios and supplementary financial measures, namely Adjusted EBITDA, Adjusted EBITDA margin, Revenue at constant currency, Revenue growth at constant currency, Organic Revenue at constant currency, Organic revenue growth at constant currency, Adjusted net income, Adjusted net income per basic share, Adjusted net income per diluted share, Adjusted EBITDA less capital expenditures, Total volume, Total volume at constant currency, Total organic volume at constant currency and eCommerce volume. These measures are not recognized measures under IFRS and do not have standardized meanings prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement IFRS measures by providing further understanding of our results of operations from our perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of the Company’s financial statements reported under IFRS. These measures are used to provide investors with additional insight of our operating performance and thus highlight trends in Nuvei’s core business that may not otherwise be apparent when relying solely on IFRS measures. We also believe that securities analysts, investors and other interested parties frequently use these non-IFRS and other financial measures in the evaluation of issuers. We also use these measures in order to facilitate operating performance comparisons from period to period, to prepare annual operating budgets and forecasts and to determine components of management compensation. We believe these measures are important additional measures of our performance, primarily because they and similar measures are used widely among others in the payment technology industry as a means of evaluating a company’s underlying operating performance.
Non-IFRS Financial Measures
Revenue at constant currency: Revenue at constant currency means revenue adjusted for the impact of foreign currency exchange fluctuations. This measure helps provide insight on comparable revenue growth by removing the effect of changes in foreign currency exchange rates year-over-year. Foreign currency exchange impact in the current period is calculated using prior period quarterly average exchange rates applied to the current period foreign currency amounts.
Organic revenue at constant currency: Organic revenue at constant currency means revenue excluding the revenue attributable to acquired businesses for a period of 12 months following their acquisition and excluding revenue attributable to divested businesses, adjusted for the impact of foreign currency exchange fluctuations. Foreign currency exchange impact in the current period is calculated using prior period quarterly average exchange rates applied to the current period foreign currency amounts. This measure helps provide insight on organic and acquisition-related growth and presents useful information about comparable revenue growth.
Adjusted EBITDA: We use Adjusted EBITDA as a means to evaluate operating performance, by eliminating the impact of non-operational or non-cash items. Adjusted EBITDA is defined as net income (loss) before finance costs (recovery), finance income, depreciation and amortization, income tax expense, acquisition, integration and severance costs, share-based payments and related payroll taxes, loss (gain) on foreign currency exchange, and legal settlement and other.
Adjusted net income: We use Adjusted net income as an indicator of business performance and profitability with our current tax and capital structure. Adjusted net income is defined as net income (loss) before acquisition, integration and severance costs, share-based payments and related payroll taxes, loss (gain) on foreign currency exchange, amortization of acquisition-related intangible assets, and the related income tax expense or recovery for these items. Adjusted net income also excludes change in redemption value of liability-classified common and preferred shares, change in fair value of share repurchase liability and accelerated amortization of deferred transaction costs and legal settlement and other.
Adjusted EBITDA less capital expenditures: We use Adjusted EBITDA less capital expenditures (acquisition of intangible assets and property and equipment) as a supplementary indicator of our operating performance. In the third quarter of 2022, we retrospectively modified the label of this measure from “Free cash flow” in order to clearly reflect its composition.
Non-IFRS Financial Ratios
Revenue growth at constant currency: Revenue growth at constant currency means the year-over-year change in Revenue at constant currency divided by reported revenue in the prior period. We use Revenue growth at constant currency to provide better comparability of revenue trends year-over-year, without the impact of fluctuations in foreign currency exchange rates.
Organic revenue growth at constant currency: Organic revenue growth at constant currency means the year-over-year change in Organic revenue at constant currency divided by comparable Organic revenue in the prior period. We use Organic revenue growth at constant currency to provide better comparability of revenue trends year-over-year, without the impact of acquisitions, divestitures and fluctuations in foreign currency exchanges rates.
Adjusted EBITDA margin: Adjusted EBITDA margin means Adjusted EBITDA divided by revenue.
Adjusted net income per basic share and per diluted share: We use Adjusted net income per basic share and per diluted share as an indicator of performance and profitability of our business on a per share basis. Adjusted net income per basic share and per diluted share means Adjusted net income less net income attributable to non-controlling interest divided by the basic and diluted weighted average number of common shares outstanding for the period. The number of share-based awards used in the diluted weighted average number of common shares outstanding in the Adjusted net income per diluted share calculation is determined using the treasury stock method as permitted under IFRS.
Supplementary Financial Measures
We monitor the following key performance indicators to help us evaluate our business, measure our performance, identify trends affecting our business, formulate business plans and make strategic decisions. Our key performance indicators may be calculated in a manner that differs from similar key performance indicators used by other companies.
Adjusted net income: We use Adjusted net income as an indicator of business performance and profitability with our current tax and capital structure. Adjusted net income is defined as net income (loss) before acquisition, integration and severance costs, share-based payments and related payroll taxes, loss (gain) on foreign currency exchange, amortization of acquisition-related intangible assets, and the related income tax expense or recovery for these items. Adjusted net income also excludes change in redemption value of liability-classified common and preferred shares, change in fair value of share repurchase liability and accelerated amortization of deferred transaction costs and legal settlement and other.
Adjusted EBITDA less capital expenditures: We use Adjusted EBITDA less capital expenditures (acquisition of intangible assets and property and equipment) as a supplementary indicator of our operating performance. In the third quarter of 2022, we retrospectively modified the label of this measure from “Free cash flow” in order to clearly reflect its composition.
Non-IFRS Financial Ratios
Revenue growth at constant currency: Revenue growth at constant currency means the year-over-year change in Revenue at constant currency divided by reported revenue in the prior period. We use Revenue growth at constant currency to provide better comparability of revenue trends year-over-year, without the impact of fluctuations in foreign currency exchange rates.
Organic revenue growth at constant currency: Organic revenue growth at constant currency means the year-over-year change in Organic revenue at constant currency divided by comparable Organic revenue in the prior period. We use Organic revenue growth at constant currency to provide better comparability of revenue trends year-over-year, without the impact of acquisitions, divestitures and fluctuations in foreign currency exchanges rates.
Adjusted EBITDA margin: Adjusted EBITDA margin means Adjusted EBITDA divided by revenue.
Adjusted net income per basic share and per diluted share: We use Adjusted net income per basic share and per diluted share as an indicator of performance and profitability of our business on a per share basis. Adjusted net income per basic share and per diluted share means Adjusted net income less net income attributable to non-controlling interest divided by the basic and diluted weighted average number of common shares outstanding for the period. The number of share-based awards used in the diluted weighted average number of common shares outstanding in the Adjusted net income per diluted share calculation is determined using the treasury stock method as permitted under IFRS.
Supplementary Financial Measures
We monitor the following key performance indicators to help us evaluate our business, measure our performance, identify trends affecting our business, formulate business plans and make strategic decisions. Our key performance indicators may be calculated in a manner that differs from similar key performance indicators used by other companies.
Forward-Looking Information
This press release contains “forward-looking information” within the meaning of applicable securities laws, including Nuvei’s outlook on Total volume, Revenue, Revenue at constant currency and Adjusted EBITDA for the three months ending December 31, 2022 and the year ending December 31, 2022 as well as medium and long-term targets on Total volume, Revenue and Adjusted EBITDA margin. Forward-looking information is identified by the use of terms and phrases such as “may”, “would”, “should”, “could”, “expect”, “intend”, “estimate”, “anticipate”, “plan”, “foresee”, “believe”, or “continue”, the negative of these terms and similar terminology, including references to assumptions, although not all forward-looking information contains these terms and phrases. Particularly, information regarding our expectations of future results, performance, achievements, prospects or opportunities or the markets in which we operate, expectations regarding industry trends and the size and growth rates of addressable markets, our business plans and growth strategies, addressable market opportunity for our solutions, expectations regarding growth and cross-selling opportunities and intention to capture an increasing share of addressable markets, the costs and success of our sales and marketing efforts, intentions to expand existing relationships, further penetrate verticals, enter new geographical markets, expand into and further increase penetration of international markets, intentions to selectively pursue and successfully integrate acquisitions, and expected acquisition outcomes and benefits, future investments in our business and anticipated capital expenditures, our intention to continuously innovate, differentiate and enhance our platform and solutions, expected pace of ongoing legislation of regulated activities and industries, our competitive strengths and competitive position in our industry, expectations regarding our revenue, revenue mix and the revenue generation potential of our solutions, expectations regarding our margins and future profitability, our financial outlook and guidance as well as medium and long-term targets in various financial metrics, and the future impact of the COVID-19 pandemic is forward-looking information. The Russia and Ukraine conflict, including potential impacts of sanctions, may also heighten the impact of certain factors described herein.
In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events or circumstances. Forward-looking information is based on management’s beliefs and assumptions and on information currently available to management, regarding, among other things, general economic conditions and the competitive environment within our industry. See also “Financial Outlook and Growth Targets Assumptions”.
Unless otherwise indicated, forward-looking information does not give effect to the potential impact of any mergers, acquisitions, divestitures or business combinations that may be announced or closed after the date hereof. Although the forward-looking information contained herein is based upon what we believe are reasonable assumptions, investors are cautioned against placing undue reliance on this information since actual results may vary from the forward-looking information. Nuvei’s financial outlook also constitutes financial outlook within meaning of applicable securities laws and is provided for the purposes of assisting the reader in understanding management’s expectations regarding our financial performance and the reader is cautioned that it may not be appropriate for other purposes. Our medium and long-term growth targets serve as guideposts as we execute on our strategic priorities in the medium to long term and are provided for the purposes of assisting the reader in measuring progress toward management’s objectives, and the reader is cautioned that they may not be appropriate for other purposes.
Forward-looking information involves known and unknown risks and uncertainties, many of which are beyond our control, that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, the risk factors described in greater detail under “Risk Factors” of the Company’s annual information form filed on March 8, 2022 (the “AIF”). In particular, our financial outlook and medium and long-term targets are subject to risks and uncertainties related to:
risks relating to our business and industry, such as the ongoing COVID-19 pandemic, including the resulting global economic uncertainty and measures taken in response to the pandemic, and increasing inflationary pressures and interest rates;
a declining level of volume activity in certain verticals, including digital assets and cryptocurrencies, and the resulting negative impact on the demand for, and prices of, our products and services;
the rapid developments and change in our industry;
intense competition both within our industry and from other payments methods;
challenges implementing our growth strategy;
challenges to expand our product portfolio and market reach;
challenges in expanding into new geographic regions internationally and continuing our growth within our markets;
challenges in retaining existing clients, increasing sales to existing clients and attracting new clients;
managing our growth effectively;
difficulty to maintain the same rate of revenue growth as our business matures and to evaluate our future prospects;
history of net losses and additional significant investments in our business;
our level of indebtedness;
risks associated with past and future acquisitions;
challenges related to a significant number of our merchants being small-and-medium sized businesses (“SMBs”);
concentration of our revenue from payment services;
compliance with the requirements of payment networks;
challenges related to the reimbursement of chargebacks from our merchants;
decline in the use of electronic payment methods;
changes in foreign currency exchange rates, inflation, interest rates, consumer spending trends and other macroeconomic factors affecting results of operations;
loss of key personnel or difficulties hiring qualified personnel;
impairment of a significant portion of intangible assets and goodwill;
increasing fees from payment networks;
challenges related to general economic, financial market and geopolitical conditions, business cycles and credit risks of our clients;
reliance on third-party partners to sell some of our products and services;
misappropriation of end-user transaction funds by our employees;
fraud by merchants, their customers or others;
the degree of effectiveness of our risk management policies and procedures in mitigating our risk exposure;
the integration of a variety of operating systems, software, hardware, web browsers and networks in our services;
the costs and effects of pending and future litigation;
challenges to secure financing on favorable terms or at all;
challenges from seasonal fluctuations on our operating results;
changes in accounting standards;
estimates and assumptions in the application of accounting policies;
risks relating to intellectual property and technology;
risks relating to regulatory and legal proceedings;
the impact of supply chain challenges on our customers;
measures determined in accordance with IFRS may be affected by unusual, extraordinary, or non-recurring items, or by items which do not otherwise reflect operating performance, making period-to-period comparisons less relevant; and
any potential acquisitions or other strategic opportunities, some of which may be material in size or result in significant integration difficulties or expenditures, or otherwise impact our ability to achieve profitability on our intended timeline or at all.
Consequently, all of the forward-looking information contained herein is qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained herein represents our expectations as of the date hereof or as of the date it is otherwise stated to be made, as applicable, and is subject to change after such date. However, we disclaim any intention or obligation or undertaking to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.
Financial Outlook and Growth Targets Assumptions
The financial outlook for the remainder of 2022 assumes greater currency headwinds than previously expected from the stronger U.S. dollar; higher volatility and lower volume in digital assets and cryptocurrencies than previously anticipated; and the potential impact from higher inflation and rising interest rates which could increase pressure on consumer spending in the second half of the year. The updated financial outlook and specifically the Adjusted EBITDA, as well as the Adjusted EBITDA margin long-term growth target, reflect the Company’s strategy to accelerate its investment in distribution, marketing, innovation, and technology. When measured as a percentage of revenue, these expenses are expected to decrease as our investments in distribution, marketing, innovation, and technology normalize over time.
Our financial outlook and growth targets are based on a number of additional assumptions, including the following:
our results of operations and ability to achieve suitable margins will continue in line with management’s expectations,
we will continue to effectively execute against our key strategic growth priorities, without any material adverse impact from the COVID-19 pandemic on our or our merchants’ business, financial condition, financial performance, liquidity nor any significant reduction in demand for our products and services,
losses owing to business failures of merchants and customers will remain in line with anticipated levels,
existing customers growing their business and expanding into new markets within selected high-growth eCommerce and mobile end-markets, including online retail, online marketplaces, digital goods and services, regulated online gaming, social gaming, financial services and travel;
our ability to cross-sell and up-sell new and existing products and services to our existing customers with limited incremental sales and marketing expenses;
our customers increasing their daily sales, and in turn their business volume of our solutions, at growth rates at or above historical levels for the past few years;
our ability to maintain existing customer relationships and to continue to expand our customers’ use of more solutions from our Native Commerce Platform at or above historical levels for the past few years;
our ability to leverage our sales and marketing experience in capturing and serving SMBs in North America and large enterprises in Europe and enable customer base expansion by targeting large enterprises in North America, with a focus in the eCommerce and mobile commerce channels;
our sales and marketing efforts and continued investment in our direct sales team and account management driving future growth by adding new customers adopting our technology processing transactions in existing and new geographies at or above historical levels;
our ability to further leverage our broad and diversified network of distribution partners;
our ability to expand and deepen our footprint and to add new customers adopting our technology processing transactions in geographies where we have an emerging presence, such as Asia Pacific and Latin America;
our ability to expand and keep our portfolio of services technologically current through continued investment in our Native Commerce Platform and to design and deliver solutions that meet the specific and evolving needs of our customers;
our ability to maintain and/or expand our relationships with acquiring banks in North America;
our continued ability to maintain our competitiveness relative to competitors’ products or services, including as to changes in terms, conditions and pricing,
our continued ability to manage our growth effectively,
we will continue to attract and retain key talent and personnel required to achieve our plans and strategies, including sales, marketing, support and product and technology operations, in each case both domestically and internationally,
our ability to successfully identify, complete, integrate and realize the expected benefits of, acquisitions and manage the associated risks, such as the Base Commerce, Mazooma, Simplex and Paymentez acquisitions, as well as future acquisitions;
gradual recovery in macroeconomic conditions and financial markets following 2022, and absence of material adverse changes in economic conditions in our core markets, geographies and verticals,
average foreign currency exchange rates remaining at near current levels;
interest rates increasing modestly and inflation remaining in line with central bank expectations in countries where we are doing business;
the absence of adverse changes in legislative or regulatory matters,
our continued ability to upskill and modify our compliance capabilities as regulations change or as we enter new markets, such as our customer underwriting, risk management, know your customer and anti-money laundering capabilities, with minimal disruption to our customers’ businesses;
our liquidity and capital resources, including our ability to secure debt or equity financing on satisfactory terms;
the absence of adverse changes in current tax laws,
our ability to expand profit margins by reducing variable costs as a percentage of total expenses, and leveraging fixed costs with additional scale and as the issuer’s investments in, for example, direct sales and marketing normalize; and
increases in volume driving profitable revenue growth with limited additional overhead costs required, as a result of the highly scalable nature of our business model and the inherent operating leverage.
Net income per share attributable to common shareholders of the Company
Basic
0.08
0.19
0.34
0.66
Diluted
0.08
0.19
0.34
0.64
Weighted average number of common shares outstanding
Basic
141,311,785
139,252,523
141,866,671
138,728,421
Diluted
143,716,424
144,006,451
145,186,798
143,452,170
Consolidated Statements of Financial Position Data(in thousands of U.S. dollars)September 30, 2022December 31, 2021$$AssetsCurrent assetsCash and cash equivalents 753,612 748,576Trade and other receivables 53,562 39,262Inventory 1,239 1,277Prepaid expenses 8,225 8,483Income taxes receivable 2,757 3,702Current portion of advances to third parties 924 3,104Current portion of contract assets 1,359 1,354Total current assets before segregated funds 821,678 805,758Segregated funds 628,892 720,874Total current assets 1,450,570 1,526,632Non-current assetsAdvances to third parties 3,290 13,676Property and equipment 28,066 18,856Intangible assets 689,457 747,600Goodwill 1,099,715 1,126,768Deferred tax assets 13,221 13,036Contract assets 980 1,091Processor deposits 4,462 4,788Other non-current assets 2,622 3,023Total Assets 3,292,383 3,455,470LiabilitiesCurrent liabilitiesTrade and other payables 110,772 101,848Income taxes payable 15,796 13,478Current portion of loans and borrowings 8,526 7,349Other current liabilities 6,222 13,226Total current liabilities before due to merchants 141,316 135,901Due to merchants 628,892 720,874Total current liabilities 770,208 856,775Non-current liabilitiesLoans and borrowings 503,470 501,246Deferred tax liabilities 58,634 71,100Other non-current liabilities 2,664 4,509Total Liabilities 1,334,976 1,433,630EquityEquity attributable to shareholdersShare capital 2,015,091 2,057,105Contributed surplus 169,758 69,943Deficit (164,274) (108,749)Accumulated other comprehensive loss (72,615) (8,561) 1,947,960 2,009,738Non-controlling interest 9,447 12,102Total Equity 1,957,407 2,021,840Total Liabilities and Equity 3,292,383 3,455,470
Consolidated Statements of Cash Flow Data(in thousands of U.S. dollars)
For the nine months ended September 30,
2022
2021
$
$
Cash flow from operating activities
Net income
52,603
94,706
Adjustments for:
Depreciation of property and equipment
5,936
4,276
Amortization of intangible assets
73,822
60,614
Amortization of contract assets
1,425
1,585
Share-based payments
103,666
20,245
Net finance cost
7,200
9,569
Loss (gain) on foreign currency exchange
(20,415)
1,973
Income tax expense
19,836
17,381
Changes in non-cash working capital items
(17,050)
15,269
Interest paid
(15,152)
(9,559)
Interest received
4,577
117
Income taxes paid (net)
(23,295)
(14,291)
193,153
201,885
Cash flow used in investing activities
Business acquisitions, net of cash acquired
—
(387,654)
Payment of acquisition-related contingent consideration
(2,027)
—
Acquisition of property and equipment
(8,681)
(3,564)
Acquisition of intangible assets
(25,130)
(13,963)
Decrease in other non-current assets
726
9,756
Net decrease in advances to third parties
1,884
7,924
(33,228)
(387,501)
Cash flow from (used in) financing activities
Shares repurchased and cancelled
(109,158)
—
Transaction costs from issuance of shares
(903)
(74)
Receitas do exercício de opções de ações
1,474
6,499
Amortização de empréstimos e financiamentos
(3,840)
—
Receitas de empréstimos e financiamentos
-
300,000
Custos de transação relacionados a empréstimos e financiamentos
—
(5,373)
Pagamento de obrigações de arrendamento
(2,674)
(1,962)
Compra de participação de não controladores
(39,751)
—
Dividendos pagos pela subsidiária a participações não controladoras
(260)
(880)
(155,112)
298,210
Efeito das variações nas taxas de câmbio sobre o caixa
223
(4,582)
Aumento líquido em caixa e equivalentes de caixa
5,036
108,012
Caixa e equivalentes de caixa – Início do período
748,576
180,722
Caixa e equivalentes de caixa – Final do período
753,612
288,734
Reconciliação do EBITDA ajustado e do EBITDA ajustado menos despesas de capital com o lucro líquido
(Em milhares de dólares americanos)
Three months endedSeptember 30
Nine months endedSeptember 30
2022
2021
2022
2021
$
$
$
$
Net income
13,006
28,002
52,603
94,706
Finance cost
7,859
5,131
13,627
11,878
Finance income
(4,131)
(538)
(6,427)
(2,309)
Depreciação e amortização
26,269
23,152
79,758
64,890
Income tax expense
5,393
6,202
19,836
17,381
Custos de aquisição, integração e rescisão(a)
11,324
7,218
21,490
17,058
Pagamentos baseados em ações e impostos relacionados à folha de pagamento (b)
33,819
11,187
103,763
20,245
Loss (gain) on foreign currency exchange
(12,528)
727
(20,415)
1,973
Acordos judiciais e outros(c)
190
(138)
1,397
(42)
EBITDA ajustado
81,201
80,943
265,632
225,780
Aquisição de propriedades e equipamentos e ativos intangíveis
(12,724)
(6,402)
(33,811)
(17,527)
EBITDA ajustado menos despesas de capital
68,477
74,541
231,821
208,253
Essas despesas estão relacionadas a:
honorários e despesas profissionais, legais, de consultoria, contábeis e outros relacionados às nossas atividades de aquisição e atividades de financiamento. Nos três meses e nove meses findos em 30 de setembro de 2022, essas despesas foram de US$ 2,8 milhões e US$ 6,2 milhões (US$ 0,7 milhão e US$ 10,5 milhões nos três meses e nove meses findos em 30 de setembro de 2021). Esses custos são apresentados no item de honorários profissionais das despesas com vendas, gerais e administrativas.
A remuneração relacionada a aquisições foi de US$ 7,5 milhões e US$ 14,3 milhões nos três e nove meses findos em 30 de setembro de 2022 e US$ 6,3 milhões nos três e nove meses findos em 30 de setembro de 2021. Esses custos são apresentados no item de remuneração de funcionários das despesas com vendas, gerais e administrativas.
alteração na contraprestação de compra diferida para negócios adquiridos anteriormente. Foram reconhecidos ganhos de US$ 0,5 milhão e US$ 1,0 milhão nos três e nove meses findos em 30 de setembro de 2022, e nada em 2021. Esses valores são apresentados no item de ajuste de contraprestação contingente das despesas com vendas, gerais e administrativas.
despesas com indenizações e integração, que foram de US$ 1,5 milhão e US$ 2,1 milhões nos três e nove meses findos em 30 de setembro de 2022 (US$ 0,3 milhão nos três e nove meses findos em 30 de setembro de 2021). Essas despesas são apresentadas em despesas com vendas, gerais e administrativas.
Essas despesas representam despesas reconhecidas em relação a opções de ações e outros prêmios emitidos de acordo com planos baseados em ações, bem como impostos sobre a folha de pagamento relacionados que são diretamente atribuíveis a pagamentos baseados em ações. Nos três e nove meses findos em 30 de setembro de 2022, as despesas consistiram em pagamentos não monetários com base em ações no valor de US$ 33,8 milhões e US$ 103,7 milhões (US$ 11,2 milhões e US$ 20,2 milhões nos três e nove meses findos em 30 de setembro de 2021), imateriais, e US$ 0,1 milhão em impostos sobre a folha de pagamento relacionados (nulos em 2021).
Esse item representa principalmente acordos legais e custos legais associados, bem como ganhos, perdas e provisões não monetários e outros custos. Esses custos são apresentados em despesas com vendas, gerais e administrativas.
Reconciliação do lucro líquido ajustado e do lucro líquido ajustado por ação básica e por ação diluída com o lucro líquido
(Em milhares de dólares americanos, exceto valores por ação e por ação)
Three months endedSeptember 30
Nine months endedSeptember 30
2022
2021
2022
2021
$
$
$
$
Net income
13,006
28,002
52,603
94,706
Alteração no valor justo do passivo de recompra de ações
-
-
(5,710)
-
Amortização de ativos intangíveis relacionados a aquisições(a)
22,427
20,042
68,904
56,151
Custos de aquisição, integração e rescisão(b)
11,324
7,218
21,490
17,058
Pagamentos baseados em ações e impostos relacionados à folha de pagamento(c)
33,819
11,187
103,763
20,245
Loss (gain) on foreign currency exchange
(12,528)
727
(20,415)
1,973
Acordos judiciais e outros(d)
190
(138)
1,397
(42)
Ajustes
55,232
39,036
169,429
95,385
Despesa de imposto de renda relacionada a ajustes(e)
(5,803)
(4,697)
(15,882)
(12,083)
Lucro líquido ajustado
62,435
62,341
206,150
178,008
Lucro líquido atribuível à participação de não controladores
(1,296)
(1,161)
(3,911)
(3,221)
Lucro líquido ajustado atribuível aos acionistas ordinários da empresa
61,139
61,180
202,239
174,787
Weighted average number of common shares outstanding
Basic
141,311,785
139,252,523
141,866,671
138,728,421
Diluted
143,716,424
144,006,451
145,186,798
143,452,170
Lucro líquido ajustado por ação atribuível aos acionistas ordinários da Companhia(f)
Basic
0.43
0.44
1.43
1.26
Diluted
0.43
0.42
1.39
1.22
Esse item refere-se à despesa de amortização dos ativos intangíveis criados a partir do processo de ajuste do preço de compra de empresas e negócios adquiridos e resultantes de uma mudança no controle da empresa.
Essas despesas estão relacionadas a:
honorários e despesas profissionais, legais, de consultoria, contábeis e outros relacionados às nossas atividades de aquisição e atividades de financiamento. Nos três meses e nove meses findos em 30 de setembro de 2022, essas despesas foram de US$ 2,8 milhões e US$ 6,2 milhões (US$ 0,7 milhão e US$ 10,5 milhões nos três meses e nove meses findos em 30 de setembro de 2021). Esses custos são apresentados no item de honorários profissionais das despesas com vendas, gerais e administrativas.
A remuneração relacionada a aquisições foi de US$ 7,5 milhões e US$ 14,3 milhões nos três e nove meses findos em 30 de setembro de 2022 e US$ 6,3 milhões nos três e nove meses findos em 30 de setembro de 2021. Esses custos são apresentados no item de remuneração de funcionários das despesas com vendas, gerais e administrativas.
alteração na contraprestação de compra diferida para negócios adquiridos anteriormente. Foram reconhecidos ganhos de US$ 0,5 milhão e US$ 1,0 milhão nos três e nove meses findos em 30 de setembro de 2022, e nada em 2021. Esses valores são apresentados no item de ajuste de contraprestação contingente das despesas com vendas, gerais e administrativas.
despesas com indenizações e integração, que foram de US$ 1,5 milhão e US$ 2,1 milhões nos três e nove meses findos em 30 de setembro de 2022 (US$ 0,3 milhão nos três e nove meses findos em 30 de setembro de 2021). Essas despesas são apresentadas em despesas com vendas, gerais e administrativas.
Essas despesas representam despesas reconhecidas em relação a opções de ações e outros prêmios emitidos de acordo com planos baseados em ações, bem como impostos sobre a folha de pagamento relacionados que são diretamente atribuíveis a pagamentos baseados em ações. Nos três e nove meses findos em 30 de setembro de 2022, as despesas consistiram em pagamentos não monetários com base em ações no valor de US$ 33,8 milhões e US$ 103,7 milhões (US$ 11,2 milhões e US$ 20,2 milhões nos três e nove meses findos em 30 de setembro de 2021), imateriais, e US$ 0,1 milhão em impostos sobre a folha de pagamento relacionados (nulos em 2021).
Esse item representa principalmente acordos legais e custos legais associados, bem como ganhos, perdas e provisões não monetários e outros custos. Esses custos são apresentados em despesas com vendas, gerais e administrativas.
Esse item reflete a despesa de imposto de renda sobre ajustes tributáveis usando a taxa de imposto da jurisdição aplicável.
O número de prêmios baseados em ações usado na média ponderada diluída do número de ações ordinárias em circulação no cálculo do lucro líquido ajustado por ação diluída é determinado usando o método de ações em tesouraria, conforme permitido pelo IFRS.
Receita por região geográfica
A tabela a seguir mostra nossas receitas por região, com base no local de faturamento das empresas:
Three months endedSeptember 30
Mudança
Nine months endedSeptember 30
Mudança
(Em milhares de dólares americanos, exceto as porcentagens)
2022
2021
2022
2021
$
$
$
%
$
$
$
%
Revenue
Europa, Oriente Médio e África
105,520
101,335
4,185
4 %
350,039
266,902
83,137
31 %
América do Norte
83,087
76,020
7,067
9 %
247,170
225,028
22,142
10 %
América Latina
7,588
5,929
1,659
28 %
20,924
16,437
4,487
27 %
Ásia Pacífico
951
648
303
47 %
4,851
4,284
567
13 %
197,146
183,932
13,214
7 %
622,984
512,651
110,333
22 %
A tabela a seguir reconcilia a receita com a receita em moeda constante e o crescimento da receita em moeda constante para o período indicado:
(Em milhares de dólares americanos, exceto as porcentagens)
Trimestre findo em30 de setembro de 2022
Trimestre findo em30 de setembro de 2021
Receita conforme reportada
Impacto do câmbio de moeda estrangeira na receita
Receita em moeda constante
Receita conforme reportada
Crescimento da receita
Crescimento da receita em moeda constante
$
$
$
$
Revenue
197,146
11,490
208,636
183,932
7 %
13 %
Reconciliação da receita orgânica em moeda constante e crescimento da receita orgânica em moeda constante com a receita
A tabela a seguir reconcilia a receita com a receita orgânica em moeda constante e o crescimento da receita orgânica em moeda constante para o período indicado:
(Em milhares de dólares americanos, exceto as porcentagens)
Trimestre findo em30 de setembro de 2022
Trimestre findo em30 de setembro de 2021
Receita conforme reportada
Receita de aquisições (a)
Receita de alienações
Impacto do câmbio de moeda estrangeira na receita orgânica
Receita orgânica em moeda constante
Receita conforme reportada
Receita de alienações
Receita orgânica comparável
Crescimento da receita
Crescimento orgânico da receita em moeda constante
$
$
$
$
$
$
$
Revenue
197,146
(7,345)
-
10,999
200,800
183,932
-
183,932
7 %
9 %
(Em milhares de dólares americanos, exceto as porcentagens)
Nove meses findos em30 de setembro de 2022
Nove meses findos em30 de setembro de 2021
Receita conforme reportada
Receita de aquisições (a)
Receita de alienações
Impacto do câmbio de moeda estrangeira na receita orgânica
Receita orgânica em moeda constante
Receita conforme reportada
Receita de alienações
Receita orgânica comparável
Crescimento da receita
Crescimento orgânico da receita em moeda constante
$
$
$
$
$
$
$
Revenue
622,984
(37,608)
-
26,712
612,088
512,651
-
512,651
22 %
19 %
(a) Adquirimos a Mazooma Technical Services Inc. ("Mazooma") em 3 de agosto de 2021, e a SimplexCC Ltd. ("Simplex") e Paymentez LLC ("Paymentez") em 1º de setembro de 2021.
Nuvei reports in U.S. dollars and in accordance with International Financial Reporting Standards (“IFRS”)
MONTREAL, 9 de novembro de 2021 - A Nuvei Corporation ("Nuvei" ou a "Empresa") (Nasdaq: NVEI) (TSX: NVEI), parceira global de tecnologia de pagamento de marcas prósperas, divulgou hoje seus resultados financeiros para o terceiro trimestre encerrado em 30 de setembro de 2021.
"Alcançamos uma série de marcos significativos no terceiro trimestre, incluindo resultados financeiros que excederam a perspectiva fornecida anteriormente, lançando novas soluções de produtos inovadores, aumentando nosso portfólio de métodos de pagamento alternativos ("APMs"), anunciando várias conquistas de novos clientes e concluindo três aquisições que aprimoram e expandem nosso mercado endereçável, recursos de produtos e presença geográfica", disse Philip Fayer, presidente e CEO da Nuvei. "O terceiro trimestre também marcou nosso aniversário de um ano como empresa de capital aberto negociando na Bolsa de Valores de Toronto, que foi seguido por nossa bem-sucedida oferta pública inicial nos Estados Unidos na Nasdaq no início de outubro. Gostaria de agradecer a toda a equipe da Nuvei por suas incansáveis contribuições e por tornar tudo isso possível. Analisando os negócios, nosso desempenho é impulsionado por nosso foco incessante em ajudar nossos clientes a se conectarem ainda mais com seus clientes, independentemente do país, da moeda ou do tipo de pagamento, por meio de nossa plataforma única e integrada. Continuamos a experimentar um impulso significativo nos negócios e estamos bem posicionados para um crescimento sustentável e lucrativo. Estamos orgulhosos de nossos resultados e elevamos nossas perspectivas financeiras para todo o ano de 2021 e reiteramos nossas metas de crescimento de médio e longo prazo anunciadas anteriormente."
Destaques financeiros para os três meses encerrados em 30 de setembro de 2021
O volume total(1) aumentou 88%, passando de US$ 11,5 bilhões para US$ 21,6 bilhões
O comércio eletrônico representou 83% do volume total
A receita aumentou 96%, passando de US$ 93,8 milhões para US$ 183,9 milhões
O lucro líquido aumentou em US$ 105,9 milhões, passando de um prejuízo líquido de US$ 77,9 milhões para US$ 28,0 milhões
O EBITDA ajustado(2) aumentou 97%, passando de US$ 41,0 milhões para US$ 80,9 milhões
O lucro líquido ajustado(2) foi de US$ 62,3 milhões, comparado a US$ 16,5 milhões
Lucro líquido por ação diluída de US$ 0,19, comparado a um prejuízo líquido de US$ 0,88
Lucro líquido ajustado(2) por ação diluída de US$ 0,42, comparado a US$ 0,17
Saldo de caixa de US$ 288,7 milhões em 30 de setembro de 2021, em comparação com US$ 180,7 milhões em 31 de dezembro de 2020
Destaques financeiros para os nove meses encerrados em 30 de setembro de 2021
O volume total(1) aumentou 119%, passando de US$ 29,3 bilhões para US$ 64,1 bilhões
O comércio eletrônico representou 85% do volume total
A receita aumentou 97%, passando de US$ 260,3 milhões para US$ 512,7 milhões
O lucro líquido aumentou em US$ 221,0 milhões, chegando a US$ 94,7 milhões, comparado a um prejuízo líquido de US$ 126,2 milhões
O EBITDA ajustado(2) aumentou 102%, passando de US$ 111,7 milhões para US$ 225,8 milhões
O lucro líquido ajustado(2) foi de US$ 178,0 milhões, comparado a US$ 42,5 milhões
Lucro líquido por ação diluída de US$ 0,64, comparado a um prejuízo líquido por ação de US$ 1,49
Lucro líquido ajustado(2) por ação diluída de US$ 1,22, comparado a US$ 0,46
O fluxo de caixa das atividades operacionais de US$ 201,9 milhões aumentou em relação aos US$ 49,0 milhões
Destaques operacionais
O volume total(1) no trimestre aumentou em todas as quatro regiões, com a América do Norte crescendo 118%, a Europa, o Oriente Médio e a África (EMEA) crescendo 62%, a Ásia-Pacífico (APAC) crescendo 140% e a América Latina (LATAM) crescendo 93%.
A Nuvei adicionou vários novos métodos de pagamento alternativos ("APMs"), aumentando o portfólio de APMs da empresa para mais de 500 no final do terceiro trimestre de 2021, expandindo o acesso e permitindo que seus clientes aceitem mais formas de métodos de pagamento digital regionalmente familiares e preferidos, a fim de gerar taxas de conversão mais altas.
A empresa habilitou pagamentos na América do Norte com o Visa Direct, expandindo e aprimorando ainda mais seu portfólio de opções de pagamento em tempo real, totalmente reconciliadas e liquidadas líquidas, simplificando assim o processo de pagamento, melhorando a eficiência e proporcionando benefícios significativos para seus empresas .
A Nuvei começou a emitir cartões na Europa, uma nova área de negócios para a empresa, ampliando ainda mais sua oferta de produtos e soluções para seus empresas na região e trazendo novas oportunidades de mercado.
A Nuvei ganhou força nos jogos on-line e nas apostas esportivas nos Estados Unidos ("EUA"), anunciando a conquista de vários novos clientes no terceiro trimestre, incluindo BetMGM, 888 e SI Sportsbook (o primeiro empreendimento da Sports Illustrated em jogos on-line e apostas esportivas nos EUA), Carousel Group, Triplebet/Matchbet e PrizePicks. Além disso, a empresa também foi selecionada como provedora de soluções de pagamento pelo Holland Casino, o primeiro cassino on-line da Holanda.
A Nuvei concluiu as aquisições anunciadas anteriormente da SimplexCC Ltd. ("Simplex") e Paymentez LLC ("Paymentez") em 1º de setembro de 2021.
A aquisição da Simplex expande os recursos da Nuvei para oferecer ferramentas personalizadas de prevenção de fraudes e gerenciamento de riscos apoiadas por tecnologia comprovada de inteligência artificial (IA), resultando em taxas de conversão mais altas e melhor liquidez, simplificando as compras fiduciárias instantâneas para criptomoedas, NFTs e provedores de finanças descentralizadas (DeFi). A Nuvei pretende oferecer os recursos avançados e as soluções aprimoradas da Simplex para seus comerciantes em todos os seus setores verticais de foco, introduzindo de forma semelhante todas as soluções e recursos de produtos da Nuvei para os clientes da SImplex.
A aquisição da Paymentez aumenta ainda mais o mercado total da Nuvei, expandindo e fortalecendo significativamente sua presença na América Latina, aprimora seus recursos de processamento regional, permite o suporte a métodos de pagamento locais adicionais e garante que a empresa esteja bem posicionada para atender clientes globais novos e existentes nessa região de rápido crescimento para o comércio on-line.
A empresa fortaleceu sua liderança executiva, promovendo Max Attias a diretor de tecnologia do grupo ("CTO") após a aposentadoria do antigo CTO de longa data, Keith Birdsong, e nomeando o veterano do setor de fintech Guillaume Conteville como diretor de marketing e a líder de recursos humanos Nikki Zinman como diretora de pessoal.
Em 8 de outubro de 2021, a Nuvei concluiu sua oferta pública inicial (IPO) nos Estados Unidos no Nasdaq Global Select Market (Nasdaq), emitindo um total de 3,45 milhões de ações com direito a voto subordinado (incluindo o exercício total pelos subscritores de sua opção de lote suplementar) para recursos brutos agregados de aproximadamente US$ 424,8 milhões.
Perspectivas financeiras
Para os três meses e o ano que termina em 31 de dezembro de 2021, a Nuvei prevê que o volume total(1), a receita e o EBITDA ajustado(2) estejam nas faixas abaixo. Considerando o forte desempenho durante os três meses encerrados em 30 de setembro de 2021, onde a Nuvei excedeu a receita previamente antecipada e a perspectiva de EBITDA Ajustado(2), bem como o impulso contínuo nos negócios, a administração está aumentando a perspectiva financeira para o ano encerrado em 31 de dezembro de 2021. As perspectivas financeiras atualizadas e, especificamente, o EBITDA Ajustado(2) refletem a estratégia da empresa de acelerar seus investimentos em distribuição, marketing, inovação, tecnologia, bem como a infraestrutura resultante da recente aquisição da Mazooma. A empresa espera que esses investimentos apoiem seu plano de crescimento. As perspectivas financeiras também incluem as aquisições recentemente concluídas da Simplex e da Paymentez.
As perspectivas financeiras são totalmente qualificadas e baseadas em uma série de suposições descritas sob o título "Informações Prospectivas" deste comunicado à imprensa. As perspectivas da Nuvei também constituem "perspectivas financeiras" de acordo com o significado das leis de valores mobiliários aplicáveis e são fornecidas com o objetivo de auxiliar o leitor a entender o desempenho financeiro da empresa e medir o progresso em direção aos objetivos da administração, e o leitor é advertido de que elas podem não ser apropriadas para outros fins.
Três meses encerrados em 31 de dezembro de 2021
Ano final 31 de dezembro de 2021
(In U.S. dollars)
$
$
$
Previous
Atualizado
Total volume(1) (in billions)
25.5 - 26.5
88 - 91
90 - 91
Revenue (in millions)
204 - 210
690 - 705
717 - 723
EBITDA ajustado(2) (em milhões)
86 - 90
295 - 305
312 - 316
Metas de crescimento
As metas de crescimento anual de médio prazo(3) da Nuvei para o volume total(1) e receita, bem como sua meta de longo prazo para a margem EBITDA ajustada(2), estão mostradas na tabela abaixo. A empresa espera atingir suas metas de médio(3) e longo prazo(3) por meio do impulso e desempenho contínuos de seu negócio principal, impulsionados pela expansão geográfica, inovação de produtos, aumento da participação na carteira de empresas existentes, conquista empresas novos empresas por meio de seu canal de vendas diretas e aumento do pipeline de vendas, além dos ventos favoráveis dos setores que atende.
Growth Targets
Total volume(1)
Crescimento anual de mais de 30% no médio prazo(3)
Revenue
Crescimento anual de mais de 30% no médio prazo(3)
Adjusted EBITDA margin(2)
50% a longo prazo(3)
(1) O volume total não representa a receita auferida pela Empresa, mas sim o valor total em dólares das transações processadas por comerciantes sob acordo contratual com a Empresa. O volume total é explicado em mais detalhes na mais recente Análise e Discussão da Administração sobre a Situação Financeira e os Resultados das Operações da Empresa.
(2) EBITDA ajustado, margem EBITDA ajustada e lucro líquido ajustado são medidas não IFRS. Consulte "Medidas não IFRS".
(3) "Médio prazo" e "longo prazo" não foram definidos pela Nuvei nem a Nuvei pretende defini-los. Essas metas não devem ser consideradas como projeções, previsões ou resultados esperados, mas sim como metas que podem resultar da execução de nossa estratégia. Essas metas de crescimento são totalmente qualificadas e baseadas em uma série de suposições descritas no título "Informações prospectivas" deste comunicado à imprensa.
ConferenceCall Information
A Nuvei realizará uma teleconferência para discutir seus resultados financeiros do terceiro trimestre de 2021 hoje, 9 de novembro de 2021, às 8h30 ET. A chamada será realizada por Philip Fayer, presidente e CEO, e David Schwartz, CFO.
The conference call will be webcast live from the Company’s investor relations website at https://investors.nuvei.com under the “Events & Presentations” section. A replay will be available on the investor relations website following the call.
A teleconferência também pode ser acessada ao vivo pelo telefone, discando 877-425-9470 (ligação gratuita nos EUA/Canadá) ou 201-389-0878 (internacional). Um replay estará disponível uma hora após a chamada e pode ser acessado discando 844-512-2921 (ligação gratuita nos EUA/Canadá) ou 412-317-6671 (internacional); a ID da conferência é 13724346. O replay estará disponível até terça-feira, 23 de novembro de 2021.
About Nuvei
Somos a Nuvei (Nasdaq: NVEI) (TSX: NVEI), a parceira global de tecnologia de pagamentos de marcas em expansão. Oferecemos a inteligência e a tecnologia que as empresas precisam para ter sucesso local e globalmente, através de uma única integração – impulsionando-as mais longe, mais rápido. Combinando tecnologia de pagamentos e consultoria, ajudamos as empresas a eliminar barreiras de pagamento, otimizar custos operacionais e aumentar as taxas de aceitação. Nossa plataforma proprietária oferece recursos de pagamento e recebimento sem complicações, conectando comerciantes com seus clientes em 204 mercados em todo o mundo, com adquirência local adquirência 45 mercados. Com suporte para mais de 500 métodos de pagamento locais e alternativos, quase 150 moedas e 40 criptomoedas, os comerciantes podem aproveitar todas as oportunidades de pagamento que surgirem. Nosso objetivo é tornar nosso mundo um mercado local.
As demonstrações financeiras consolidadas interinas condensadas e não auditadas da Nuvei foram preparadas de acordo com o IFRS, conforme emitido pelo International Accounting Standards Board. As informações apresentadas neste comunicado à imprensa incluem medidas financeiras não IFRS, a saber, EBITDA ajustado, margem EBITDA ajustada, lucro líquido ajustado, lucro líquido ajustado por ação básica e lucro líquido ajustado por ação diluída. Essas medidas não são medidas reconhecidas pelo IFRS e não têm significados padronizados prescritos pelo IFRS e, portanto, é improvável que sejam comparáveis a medidas semelhantes apresentadas por outras empresas. Em vez disso, essas medidas são fornecidas como informações adicionais para complementar as medidas do IFRS, fornecendo uma compreensão mais aprofundada dos resultados das operações da Empresa sob a perspectiva da administração. Dessa forma, essas medidas não devem ser consideradas isoladamente nem como substitutas da análise das informações financeiras da Empresa relatadas de acordo com o IFRS. O EBITDA ajustado, a margem EBITDA ajustada, o lucro líquido ajustado, o lucro líquido ajustado por ação básica e o lucro líquido ajustado por ação diluída são usados para fornecer aos investidores uma medida suplementar do desempenho operacional da Empresa e, assim, destacar tendências no negócio principal da Nuvei que podem não ser aparentes quando se confia apenas nas medidas IFRS. A administração da Companhia também acredita que os analistas de valores mobiliários, investidores e outras partes interessadas frequentemente usam medidas não IFRS na avaliação de emissores. A administração da Nuvei também usa medidas não IFRS para facilitar comparações de desempenho operacional entre períodos, para preparar orçamentos e previsões operacionais anuais e para determinar componentes da remuneração da administração. A administração da empresa acredita que o EBITDA ajustado, a margem EBITDA ajustada, o lucro líquido ajustado, o lucro líquido ajustado por ação básica e o lucro líquido ajustado por ação diluída são medidas suplementares importantes do desempenho da Nuvei, principalmente porque essas medidas e outras semelhantes são amplamente utilizadas no setor de tecnologia de pagamentos como um meio de avaliar o desempenho operacional subjacente de uma empresa. Consulte a seção "Medidas não IFRS" da discussão e análise de nossa administração para obter uma descrição e reconciliação dessas medidas.
Forward-Looking Information
Este comunicado à imprensa contém "informações prospectivas" dentro do significado das leis de valores mobiliários aplicáveis, incluindo as perspectivas da Nuvei sobre o volume total, a receita e o EBITDA ajustado para os três meses e o ano encerrado em 31 de dezembro de 2021, bem como metas de médio e longo prazo sobre o volume total, a receita e o EBITDA ajustado. Em alguns casos, as informações prospectivas podem ser identificadas pelo uso de terminologia prospectiva, como "planos", "metas", "espera" ou "não espera", "é esperado", "existe uma oportunidade", "orçamento", "programado", "estimativas", "perspectiva", "previsões", "projeção", "perspectivas", "estratégia", "pretende", "antecipa", "não prevê", "acredita", ou variações de tais palavras e frases ou declarações de que determinadas ações, eventos ou resultados "podem", "poderiam", "seriam", "poderiam", "irão", "serão realizados", "ocorrerão" ou "serão alcançados", a negativa desses termos e terminologia semelhante. Além disso, quaisquer declarações que se refiram a expectativas, intenções, projeções ou outras caracterizações de eventos ou circunstâncias futuras contêm informações prospectivas. As declarações que contêm informações prospectivas não são fatos históricos, mas representam as expectativas, estimativas e projeções da administração em relação a eventos ou circunstâncias futuras. As perspectivas e metas da Nuvei, conforme o caso, sobre receita, EBITDA Ajustado e margem EBITDA Ajustada também constituem "perspectivas financeiras" dentro do significado das leis de valores mobiliários aplicáveis e são fornecidas com o objetivo de auxiliar o leitor a entender o desempenho financeiro da Empresa e medir o progresso em direção aos objetivos da administração, e o leitor é advertido de que podem não ser apropriadas para outros fins. As informações prospectivas envolvem riscos e incertezas conhecidos e desconhecidos, muitos dos quais estão fora do controle da Empresa, que podem fazer com que os resultados reais sejam materialmente diferentes daqueles divulgados ou implícitos nessas informações prospectivas. Esses riscos e incertezas incluem, entre outros, os descritos na seção "Fatores de risco" do formulário de informações anuais da empresa arquivado em 17 de março de 2021. As informações prospectivas são baseadas nas crenças e suposições da administração e nas informações atualmente disponíveis para a administração. Em particular, as avaliações da administração, as perspectivas e as metas para o volume total, a receita, o EBITDA Ajustado e a margem do EBITDA Ajustado aqui estabelecidos são geralmente baseados nas seguintes suposições: (a) os resultados das operações da Nuvei continuarão conforme o esperado, (b) a Companhia continuará a executar efetivamente suas principais prioridades estratégicas de crescimento, apesar da atual pandemia de COVID-19 e das medidas tomadas para conter o vírus, (c) a Companhia continuará a reter e aumentar sua base de clientes existente enquanto adiciona novos clientes, (d) a Companhia não concluirá nenhuma aquisição ou alienação, (e) as condições econômicas permanecerão relativamente estáveis durante o período, (f) os setores em que a Nuvei opera continuarão a crescer de forma consistente com a experiência passada, (g) não haverá flutuações nas taxas de câmbio e volatilidade nos mercados financeiros, (h) não haverá mudanças significativas em questões legislativas ou regulatórias, e (i) as leis tributárias atuais permanecerão em vigor e não serão alteradas de forma significativa. Embora as informações prospectivas contidas neste comunicado à imprensa sejam baseadas no que a administração acredita serem suposições razoáveis, você é advertido a não depositar confiança indevida nessas informações, pois os resultados reais podem variar em relação às informações prospectivas. A menos que indicado de outra forma ou que o contexto indique de outra forma, as informações prospectivas contidas neste comunicado à imprensa são fornecidas na data deste comunicado à imprensa, e a Empresa não se compromete a atualizar ou alterar essas informações prospectivas, seja como resultado de novas informações, eventos futuros ou de outra forma, exceto conforme possa ser exigido pela lei aplicável.
Lucro líquido (prejuízo) por ação atribuível aos acionistas ordinários da Companhia
Basic
0.19
(0.88)
0.66
(1.49)
Diluted
0.19
(0.88)
0.64
(1.49)
Weighted average number of common shares outstanding
Basic
139,252,523
89,217,178
138,728,421
86,153,927
Diluted
144,006,451
89,217,178
143,452,170
86,153,927
Reconciliação do EBITDA ajustado com o lucro líquido (prejuízo)
(Em milhares de dólares americanos)
Three months endedSeptember 30
Nine months endedSeptember 30
2021
2020
2021
2020
$
$
$
$
Lucro líquido (prejuízo)
28,002
(77,869)
94,706
(126,247)
Finance cost
5,131
101,255
11,878
156,597
Finance income
(538)
(1,375)
(2,309)
(4,170)
Depreciação e amortização
23,152
16,931
64,890
51,264
Income tax expense
6,202
3,505
17,381
3,979
Custos de aquisição, integração e indenização (a)
7,218
2,418
17,058
5,296
Pagamentos baseados em ações (b)
11,187
6,472
20,245
7,207
Loss (gain) on foreign currency exchange
727
(9,544)
1,973
17,889
Acordo legal e outros (c)
(138)
(802)
(42)
(146)
EBITDA ajustado (d)
80,943
40,991
225,780
111,669
Adiantamento de terceiros – empresas recebidas (e)
1,854
3,848
7,720
9,516
Esse item representa a alteração no valor de resgate relacionado às ações classificadas como passivos antes da listagem da empresa na TSX. Como parte da listagem na TSX, essas ações foram convertidas em patrimônio como ações com direito a voto subordinado. Essas despesas estão incluídas nos custos financeiros.
Esse item está relacionado à despesa de amortização dos ativos intangíveis criados a partir do processo de ajuste do preço de compra em empresas e negócios adquiridos e da aquisição de todas as ações em circulação da Pivotal Holdings Ltd. pela Nuvei em setembro de 2017.
Essas despesas estão relacionadas a:
honorários e despesas profissionais, legais, de consultoria, contábeis e outros relacionados às nossas atividades de aquisição e atividades de financiamento. Nos três meses e nos nove meses encerrados em 30 de setembro de 2021, essas despesas foram de US$ 0,7 milhão e US$ 10,5 milhões, respectivamente (US$ 2,0 milhões e US$ 5,2 milhões nos três meses e nos nove meses encerrados em 30 de setembro de 2020). Esses custos são apresentados no item de honorários profissionais das despesas com vendas, gerais e administrativas.
remuneração relacionada à aquisição. Nos três meses e nos nove meses encerrados em 30 de setembro de 2021, essas despesas foram de US$ 6,3 milhões (US$ 0,2 milhão e US$ 0,7 milhão nos três meses e nos nove meses encerrados em 30 de setembro de 2020). Esses custos são apresentados no item de remuneração de funcionários das despesas com vendas, gerais e administrativas.
alteração na contraprestação de compra diferida para negócios adquiridos anteriormente, que foi nula nos três meses e nos nove meses findos em 30 de setembro de 2021 (nula nos três meses findos em 30 de setembro de 2020 e um ganho de US$ 1,3 milhão nos nove meses findos em 30 de setembro de 2020).
Despesas com indenizações e integração. Nos três meses e nos nove meses encerrados em 30 de setembro de 2021, as despesas com indenizações foram de US$ 0,3 milhão (US$ 0,2 milhão e US$ 0,6 milhão nos três meses e nos nove meses encerrados em 30 de setembro de 2020). Essas despesas são apresentadas em despesas com vendas, gerais e administrativas.
Essas despesas representam despesas não monetárias reconhecidas em relação a opções de ações e outros prêmios emitidos de acordo com planos baseados em ações.
Esse item representa principalmente acordos legais e custos legais associados incorridos fora do curso normal dos negócios, bem como ganhos, perdas e provisões não monetários e outros custos. Esses custos são apresentados na linha de outros itens das despesas com vendas, gerais e administrativas.
Esse item reflete a despesa de imposto de renda sobre ajustes tributáveis usando a taxa de imposto da jurisdição aplicável.
O lucro líquido ajustado é uma medida não IFRS que a empresa usa para avaliar melhor seu desempenho operacional.
O lucro líquido ajustado por ação diluída é calculado usando os prêmios baseados em ações em circulação no final de cada período, em uma base totalmente diluída, se eles estivessem in-the-money naquele momento.
Dados das Demonstrações Consolidadas da Posição Financeira(em milhares de dólares americanos)
30 de setembro de 2021
31 de dezembro de 2020
$
$
Ativos
Ativos circulantes
Dinheiro
288,734
180,722
Contas a receber e outras contas a receber
43,276
32,055
Inventário
419
80
Despesas pagas antecipadamente
6,920
4,727
Imposto de renda a receber
4,156
6,690
Parcela atual dos adiantamentos a terceiros
4,630
8,520
Parcela atual dos ativos contratuais
1,524
1,587
Total de ativos circulantes antes dos fundos segregados
349,659
234,381
Fundos segregados
592,388
443,394
Total de ativos circulantes
942,047
677,775
Ativos não circulantes
Adiantamentos a terceiros
21,040
38,478
Propriedade e equipamentos
16,750
16,537
Ativos intangíveis
756,593
524,232
Ágio
1,133,864
969,820
Ativos fiscais diferidos
13,472
3,785
Ativos contratuais
1,063
1,300
Depósitos do processador
5,562
13,898
Outros ativos não circulantes
3,017
1,944
Total de ativos
2,893,408
2,247,769
Passivos
Passivo circulante
Contas a pagar e outras contas a pagar
98,492
64,779
Imposto de renda a pagar
22,319
7,558
Parcela atual de empréstimos e financiamentos
8,485
2,527
Outros passivos circulantes
10,110
7,132
Total de passivos circulantes antes de dívidas com comerciantes
139,406
81,996
Devido aos comerciantes
592,388
443,394
Total de passivos circulantes
731,794
525,390
Passivos não circulantes
Empréstimos e financiamentos
501,385
212,726
Passivos fiscais diferidos
75,320
50,105
Outros passivos não circulantes
7,757
1,659
Total de passivos
1,316,256
789,880
Patrimônio líquido
Patrimônio líquido atribuível aos acionistas
Capital social
1,644,611
1,625,785
Superávit contribuído
38,688
11,966
Déficit
(119,557)
(211,042)
Outros resultados abrangentes acumulados
2,359
22,470
1,566,101
1,449,179
Non-controlling interest
11,051
8,710
Patrimônio líquido total
1,577,152
1,457,889
Total de passivos e patrimônio líquido
2,893,408
2,247,769
Consolidated Statements of Cash Flow Data(in thousands of U.S. dollars)
Para os nove meses encerrados em 30 de setembro
2021
2020
$
$
Cash flow from operating activities
Lucro líquido (prejuízo)
94,706
(126,247)
Adjustments for:
Depreciation of property and equipment
4,276
4,142
Amortization of intangible assets
60,614
47,122
Amortization of contract assets
1,585
1,697
Share-based payments
20,245
7,207
Custos financeiros líquidos
9,569
152,427
Perda com câmbio de moeda estrangeira
1,973
17,889
Redução ao valor recuperável na alienação de uma subsidiária
-
338
Income tax expense
17,381
3,979
Changes in non-cash working capital items
15,386
(6,713)
Interest paid
(9,559)
(42,293)
Impostos sobre a renda pagos
(14,291)
(10,579)
201,885
48,969
Fluxo de caixa de (usado em) atividades de investimento
Business acquisitions, net of cash acquired
(387,654)
-
Receitas da venda de uma subsidiária, líquidas de caixa
-
19,045
Diminuição (aumento) em outros ativos não circulantes
9,756
(1,080)
Net decrease in advances to third parties
7,924
2,127
Acquisition of property and equipment
(3,564)
(1,701)
Acquisition of intangible assets
(13,963)
(10,570)
(387,501)
7,821
Cash flow from (used in) financing activities
Receitas de empréstimos e financiamentos
300,000
-
Custos de transação relacionados a empréstimos e financiamentos
(5,373)
(293)
Receitas do exercício de opções de ações
6,499
-
Recursos provenientes da emissão de ações subordinadas com direito a voto
-
758,597
Custos de transação da emissão de ações ordinárias
(74)
(38,561)
Reembolso de debêntures conversíveis de acionistas
-
(93,384)
Amortização de empréstimos e financiamentos
-
(642,786)
Pagamento de obrigações de arrendamento
(1,962)
(1,795)
Dividendos pagos pela subsidiária a participações não controladoras
(880)
(600)
298,210
(18,822)
Efeito das variações nas taxas de câmbio sobre o caixa
MONTREAL, February 2, 2022 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the global payment technology partner of thriving brands, today announced it will host its inaugural Capital Markets Day in New York, on Monday, March 28, 2022.
Management will provide insights and an update on the Company’s business, solutions and market opportunities, with time for questions. Presentations are scheduled to start at 10:00 AM Eastern Time and conclude at approximately 2:00 PM Eastern Time. Registration is required to attend the event in person and will be limited (and subject to change) due to COVID-19 protocols.
All are invited to listen to an online presentation which will be available on the Company’s investor relations website at https://investors.nuvei.com under the “Events & Presentations” section.
About Nuvei
We are Nuvei (Nasdaq: NVEI) (TSX: NVEI), the global payment technology partner of thriving brands. We provide the intelligence and technology businesses need to succeed locally and globally, through one integration – propelling them further, faster. Uniting payment technology and consulting, we help businesses remove payment barriers, optimize operating costs and increase acceptance rates. Our proprietary platform provides seamless pay-in and payout capabilities, connecting merchants with their customers in over 200 markets worldwide, with local acquiring in 45 markets. With support for over 500 local and alternative payment methods, nearly 150 currencies and 40 cryptocurrencies, merchants can capture every payment opportunity that comes their way. Our purpose is to make our world a local marketplace.
