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)
—
Transaktionskosten aus der Ausgabe von Aktien
(903)
(74)
Erlöse aus der Ausübung von Aktienoptionen
1,474
6,499
Rückzahlung von Darlehen und Anleihen
(3,840)
—
Einzahlungen aus Krediten und Anleihen
-
300,000
Transaktionskosten im Zusammenhang mit Darlehen und Anleihen
—
(5,373)
Zahlung von Leasingverbindlichkeiten
(2,674)
(1,962)
Erwerb von Anteilen ohne beherrschenden Einfluss
(39,751)
—
Vom Tochterunternehmen an nicht beherrschende Anteile gezahlte Dividende
(260)
(880)
(155,112)
298,210
Auswirkung von Wechselkursschwankungen auf die Zahlungsmittel
223
(4,582)
Nettozunahme der Zahlungsmittel und Zahlungsmitteläquivalente
5,036
108,012
Zahlungsmittel und Zahlungsmitteläquivalente – zu Beginn der Periode
748,576
180,722
Zahlungsmittel und Zahlungsmitteläquivalente – zum Ende der Periode
753,612
288,734
Überleitung des bereinigten EBITDA und des bereinigten EBITDA abzüglich Investitionen zum Nettoergebnis
(In Tausend U.S.-Dollar)
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)
Abschreibung und Amortisation
26,269
23,152
79,758
64,890
Income tax expense
5,393
6,202
19,836
17,381
Akquisitions-, Integrations- und Abfindungskosten(a)
11,324
7,218
21,490
17,058
Aktienbasierte Vergütungen und damit verbundene Lohnsteuern (b)
33,819
11,187
103,763
20,245
Loss (gain) on foreign currency exchange
(12,528)
727
(20,415)
1,973
Rechtsstreitigkeiten und Sonstiges(c)
190
(138)
1,397
(42)
Bereinigtes EBITDA
81,201
80,943
265,632
225,780
Erwerb von Sachanlagen und immateriellen Vermögenswerten
(12,724)
(6,402)
(33,811)
(17,527)
Bereinigtes EBITDA abzüglich Investitionsausgaben
68,477
74,541
231,821
208,253
Diese Ausgaben beziehen sich auf:
Fach-, Rechts-, Beratungs-, Buchhaltungs- und sonstige Gebühren und Aufwendungen im Zusammenhang mit unseren Akquisitions- und Finanzierungsaktivitäten. In den drei Monaten und neun Monaten bis zum 30. September 2022 beliefen sich diese Aufwendungen auf 2,8 Mio. USD und 6,2 Mio. USD (0,7 Mio. USD und 10,5 Mio. USD in den drei Monaten und neun Monaten bis zum 30. September 2021). Diese Kosten werden unter dem Posten Honorare in den Vertriebs-, Verwaltungs- und Gemeinkosten ausgewiesen.
Die akquisitionsbedingten Vergütungen betrugen 7,5 Mio. USD und 14,3 Mio. USD für die drei Monate und neun Monate bis zum 30. September 2022 und 6,3 Mio. USD für die drei Monate und neun Monate bis zum 30. September 2021. Diese Kosten werden unter dem Posten Mitarbeitervergütung in den Vertriebs-, Verwaltungs- und Gemeinkosten ausgewiesen.
Veränderung der aufgeschobenen Kaufpreiszahlungen für zuvor erworbene Unternehmen. In den drei Monaten und neun Monaten bis zum 30. September 2022 wurden 0,5 Mio. $ bzw. 1,0 Mio. $ Gewinn verbucht, im Jahr 2021 waren es null. Diese Beträge werden unter dem Posten Anpassung der bedingten Gegenleistung in den Vertriebs-, Verwaltungs- und Gemeinkosten ausgewiesen.
Abfindungs- und Integrationskosten, die sich in den drei Monaten und neun Monaten zum 30. September 2022 auf 1,5 Mio. USD und 2,1 Mio. USD beliefen (0,3 Mio. USD in den drei Monaten und neun Monaten zum 30. September 2021). Diese Aufwendungen sind in den Vertriebs-, Verwaltungs- und Gemeinkosten enthalten.
Bei diesen Aufwendungen handelt es sich um Ausgaben, die im Zusammenhang mit Aktienoptionen und anderen im Rahmen von aktienbasierten Plänen ausgegebenen Prämien verbucht wurden, sowie um die damit verbundenen Lohnsteuern, die direkt auf die aktienbasierten Vergütungen zurückzuführen sind. Für die drei Monate und neun Monate bis zum 30. September 2022 bestanden die Aufwendungen aus nicht zahlungswirksamen aktienbasierten Vergütungen in Höhe von 33,8 Mio. USD und 103,7 Mio. USD (11,2 Mio. USD und 20,2 Mio. USD für die drei Monate und neun Monate bis zum 30. September 2021), die unwesentlich waren, und 0,1 Mio. USD für die damit verbundenen Lohnsteuern (null im Jahr 2021).
Dieser Posten umfasst in erster Linie Rechtsstreitigkeiten und damit verbundene Rechtskosten sowie nicht zahlungswirksame Gewinne, Verluste und Rückstellungen und bestimmte andere Kosten. Diese Kosten werden in den Vertriebs-, Verwaltungs- und Gemeinkosten ausgewiesen.
Überleitung des bereinigten Nettogewinns und des bereinigten Nettogewinns je unverwässerter und je verwässerter Aktie zum Nettogewinn
(In Tausend US-Dollar, mit Ausnahme der Beträge für Aktien und je Aktie)
Three months endedSeptember 30
Nine months endedSeptember 30
2022
2021
2022
2021
$
$
$
$
Net income
13,006
28,002
52,603
94,706
Veränderung des beizulegenden Zeitwerts der Verbindlichkeit für den Aktienrückkauf
-
-
(5,710)
-
Abschreibung von akquisitionsbezogenen immateriellen Vermögenswerten(a)
22,427
20,042
68,904
56,151
Akquisitions-, Integrations- und Abfindungskosten(b)
11,324
7,218
21,490
17,058
Aktienbasierte Vergütungen und damit verbundene Lohnsteuern(c)
33,819
11,187
103,763
20,245
Loss (gain) on foreign currency exchange
(12,528)
727
(20,415)
1,973
Rechtsstreitigkeiten und Sonstiges(d)
190
(138)
1,397
(42)
Anpassungen
55,232
39,036
169,429
95,385
Ertragsteueraufwand im Zusammenhang mit Anpassungen(e)
(5,803)
(4,697)
(15,882)
(12,083)
Bereinigtes Nettoeinkommen
62,435
62,341
206,150
178,008
Den nicht beherrschenden Anteilen zurechenbares Nettoergebnis
(1,296)
(1,161)
(3,911)
(3,221)
Bereinigter Nettogewinn, der den Stammaktionären des Unternehmens zuzurechnen ist
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
Bereinigter Nettogewinn je Aktie, der den Stammaktionären des Unternehmens zuzurechnen ist(f)
Basic
0.43
0.44
1.43
1.26
Diluted
0.43
0.42
1.39
1.22
Dieser Posten bezieht sich auf den Abschreibungsaufwand für immaterielle Vermögenswerte, die aus dem Kaufpreisanpassungsprozess für erworbene Unternehmen und Geschäftsbereiche entstanden sind und aus einer Änderung der Kontrolle über das Unternehmen resultieren.
Diese Ausgaben beziehen sich auf:
Fach-, Rechts-, Beratungs-, Buchhaltungs- und sonstige Gebühren und Aufwendungen im Zusammenhang mit unseren Akquisitions- und Finanzierungsaktivitäten. In den drei Monaten und neun Monaten bis zum 30. September 2022 beliefen sich diese Aufwendungen auf 2,8 Mio. USD und 6,2 Mio. USD (0,7 Mio. USD und 10,5 Mio. USD in den drei Monaten und neun Monaten bis zum 30. September 2021). Diese Kosten werden unter dem Posten Honorare in den Vertriebs-, Verwaltungs- und Gemeinkosten ausgewiesen.
Die akquisitionsbedingten Vergütungen betrugen 7,5 Mio. USD und 14,3 Mio. USD für die drei Monate und neun Monate bis zum 30. September 2022 und 6,3 Mio. USD für die drei Monate und neun Monate bis zum 30. September 2021. Diese Kosten werden unter dem Posten Mitarbeitervergütung in den Vertriebs-, Verwaltungs- und Gemeinkosten ausgewiesen.
Veränderung der aufgeschobenen Kaufpreiszahlungen für zuvor erworbene Unternehmen. In den drei Monaten und neun Monaten bis zum 30. September 2022 wurden 0,5 Mio. $ bzw. 1,0 Mio. $ Gewinn verbucht, im Jahr 2021 waren es null. Diese Beträge werden unter dem Posten Anpassung der bedingten Gegenleistung in den Vertriebs-, Verwaltungs- und Gemeinkosten ausgewiesen.
Abfindungs- und Integrationskosten, die sich in den drei Monaten und neun Monaten zum 30. September 2022 auf 1,5 Mio. USD und 2,1 Mio. USD beliefen (0,3 Mio. USD in den drei Monaten und neun Monaten zum 30. September 2021). Diese Aufwendungen sind in den Vertriebs-, Verwaltungs- und Gemeinkosten enthalten.
Bei diesen Aufwendungen handelt es sich um Ausgaben, die im Zusammenhang mit Aktienoptionen und anderen im Rahmen von aktienbasierten Plänen ausgegebenen Prämien verbucht wurden, sowie um die damit verbundenen Lohnsteuern, die direkt auf die aktienbasierten Vergütungen zurückzuführen sind. Für die drei Monate und neun Monate bis zum 30. September 2022 bestanden die Aufwendungen aus nicht zahlungswirksamen aktienbasierten Vergütungen in Höhe von 33,8 Mio. USD und 103,7 Mio. USD (11,2 Mio. USD und 20,2 Mio. USD für die drei Monate und neun Monate bis zum 30. September 2021), die unwesentlich waren, und 0,1 Mio. USD für die damit verbundenen Lohnsteuern (null im Jahr 2021).
Dieser Posten umfasst in erster Linie Rechtsstreitigkeiten und damit verbundene Rechtskosten sowie nicht zahlungswirksame Gewinne, Verluste und Rückstellungen und bestimmte andere Kosten. Diese Kosten werden in den Vertriebs-, Verwaltungs- und Gemeinkosten ausgewiesen.
Dieser Posten spiegelt den Ertragsteueraufwand für steuerpflichtige Anpassungen unter Anwendung des Steuersatzes des jeweiligen Landes wider.
Die Anzahl der aktienbasierten Vergütungen, die bei der Berechnung des bereinigten Nettogewinns je verwässerter Aktie als verwässerter gewichteter Durchschnitt der im Umlauf befindlichen Stammaktien verwendet wird, wird nach der Treasury-Stock-Methode ermittelt, wie sie nach IFRS zulässig ist.
Umsatz nach Geografie
Die folgende Tabelle fasst unsere Umsätze nach geografischen Regionen zusammen, basierend auf dem Rechnungsort des Händlers:
Three months endedSeptember 30
ändern
Nine months endedSeptember 30
ändern
(In Tausend U.S. Dollar, außer Prozentangaben)
2022
2021
2022
2021
$
$
$
%
$
$
$
%
Revenue
Europa, Naher Osten und Afrika
105,520
101,335
4,185
4 %
350,039
266,902
83,137
31 %
Nord-Amerika
83,087
76,020
7,067
9 %
247,170
225,028
22,142
10 %
Lateinamerika
7,588
5,929
1,659
28 %
20,924
16,437
4,487
27 %
Asien-Pazifik
951
648
303
47 %
4,851
4,284
567
13 %
197,146
183,932
13,214
7 %
622,984
512,651
110,333
22 %
Die folgende Tabelle zeigt die Überleitung der Umsatzerlöse zu den währungsbereinigten Umsatzerlösen und dem währungsbereinigten Umsatzwachstum für den angegebenen Zeitraum:
(In Tausend U.S. Dollar, außer bei Prozentangaben)
Dreimonatszeitraum endend am30. September 2022
Drei Monate bis zum30. September 2021
Einnahmen wie berichtet
Auswirkungen von Wechselkursen auf die Einnahmen
Umsatz zu konstanten Wechselkursen
Einnahmen wie berichtet
Umsatzwachstum
Umsatzwachstum bei konstanten Wechselkursen
$
$
$
$
Revenue
197,146
11,490
208,636
183,932
7 %
13 %
Überleitung des währungsbereinigten organischen Umsatzes und des währungsbereinigten organischen Umsatzwachstums zu den Umsatzerlösen
Die folgende Tabelle zeigt eine Überleitung vom Umsatz zum währungsbereinigten organischen Umsatz und zum währungsbereinigten organischen Umsatzwachstum für den angegebenen Zeitraum:
(In Tausend U.S. Dollar, außer bei Prozentangaben)
Dreimonatszeitraum endend am30. September 2022
Drei Monate bis zum30. September 2021
Einnahmen wie berichtet
Umsatzerlöse aus Akquisitionen (a)
Einnahmen aus Veräußerungen
Währungseffekte auf den organischen Umsatz
Organischer Umsatz zu konstanten Wechselkursen
Einnahmen wie berichtet
Einnahmen aus Veräußerungen
Vergleichbarer organischer Umsatz
Umsatzwachstum
Organisches Umsatzwachstum bei konstanten Wechselkursen
$
$
$
$
$
$
$
Revenue
197,146
(7,345)
-
10,999
200,800
183,932
-
183,932
7 %
9 %
(In Tausend U.S. Dollar, außer bei Prozentangaben)
Neun Monate bis zum30. September 2022
Neun Monate bis zum30. September 2021
Einnahmen wie berichtet
Umsatzerlöse aus Akquisitionen (a)
Einnahmen aus Veräußerungen
Währungseffekte auf den organischen Umsatz
Organischer Umsatz zu konstanten Wechselkursen
Einnahmen wie berichtet
Einnahmen aus Veräußerungen
Vergleichbarer organischer Umsatz
Umsatzwachstum
Organisches Umsatzwachstum bei konstanten Wechselkursen
$
$
$
$
$
$
$
Revenue
622,984
(37,608)
-
26,712
612,088
512,651
-
512,651
22 %
19 %
(a) Wir haben Mazooma Technical Services Inc. ("Mazooma") am 3. August 2021 und SimplexCC Ltd. ("Simplex") und Paymentez LLC ("Paymentez") am 1. September 2021.
Nuvei reports in U.S. dollars and in accordance with International Financial Reporting Standards (“IFRS”)
MONTREAL, 9. November 2021 - Nuvei Corporation ("Nuvei" oder das "Unternehmen") (Nasdaq: NVEI) (TSX: NVEI), der globale Partner für Zahlungstechnologien erfolgreicher Marken, gab heute seine Finanzergebnisse für das dritte Quartal zum 30. September 2021 bekannt.
"Wir haben im dritten Quartal eine Reihe von wichtigen Meilensteinen erreicht, darunter Finanzergebnisse, die den zuvor gegebenen Ausblick übertrafen, die Veröffentlichung neuer innovativer Produktlösungen, die Erweiterung unseres Portfolios alternativer Zahlungsmethoden ("APMs"), die Bekanntgabe mehrerer interessanter neuer Kunden und der Abschluss von drei Akquisitionen, die unseren adressierbaren Markt, unsere Produktfähigkeiten und unsere geografische Präsenz verbessern und erweitern", sagte Philip Fayer, Vorsitzender und CEO von Nuvei. "Im dritten Quartal feierten wir außerdem unser einjähriges Jubiläum als börsennotiertes Unternehmen an der Toronto Stock Exchange, gefolgt von unserem erfolgreichen Börsengang in den Vereinigten Staaten an der Nasdaq Anfang Oktober. Ich möchte dem gesamten Nuvei-Team für seinen unermüdlichen Einsatz und dafür danken, dass es all dies möglich gemacht hat. Wenn wir uns das Geschäft ansehen, wird unsere Leistung von unserem unablässigen Bestreben angetrieben, unseren Kunden dabei zu helfen, sich mit ihren Kunden weiter zu verbinden, unabhängig von Land, Währung oder Zahlungsart durch unsere einzige integrierte Plattform. Wir erleben weiterhin eine erhebliche Dynamik in unserem Geschäft und sind gut positioniert für ein nachhaltiges und profitables Wachstum. Wir sind stolz auf unsere Ergebnisse und heben unseren finanziellen Ausblick für das Gesamtjahr 2021 an und bekräftigen unsere bereits angekündigten mittel- und langfristigen Wachstumsziele."
Finanzielle Höhepunkte für die drei Monate bis zum 30. September 2021
Das Gesamtvolumen(1) stieg um 88% von 11,5 Mrd. USD auf 21,6 Mrd. USD
Der eCommerce machte 83% des Gesamtvolumens aus
Der Umsatz stieg von 93,8 Mio. $ um 96% auf 183,9 Mio. $.
Der Nettogewinn stieg um 105,9 Mio. $ auf 28,0 Mio. $ nach einem Nettoverlust von 77,9 Mio. $.
Das bereinigte EBITDA(2) stieg um 97% von 41,0 Mio. USD auf 80,9 Mio. USD.
Der bereinigte Nettogewinn(2) betrug 62,3 Mio. USD gegenüber 16,5 Mio. USD
Nettogewinn pro verwässerter Aktie von 0,19 US-Dollar gegenüber einem Nettoverlust von 0,88 US-Dollar
Bereinigter Nettogewinn(2) pro verwässerter Aktie von 0,42 USD gegenüber 0,17 USD
Barguthaben von 288,7 Mio. USD am 30. September 2021 gegenüber 180,7 Mio. USD am 31. Dezember 2020
Finanzielle Höhepunkte für die neun Monate bis zum 30. September 2021
Das Gesamtvolumen(1) stieg um 119% von 29,3 Mrd. USD auf 64,1 Mrd. USD
85% des Gesamtvolumens entfielen auf den eCommerce
Der Umsatz stieg um 97% von 260,3 Mio. $ auf 512,7 Mio. $.
Der Nettogewinn stieg um 221,0 Mio. $ auf 94,7 Mio. $, verglichen mit einem Nettoverlust von 126,2 Mio. $.
Das bereinigte EBITDA(2) stieg um 102% von 111,7 Mio. USD auf 225,8 Mio. USD
Der bereinigte Nettogewinn(2) betrug 178,0 Mio. USD gegenüber 42,5 Mio. USD
Nettogewinn pro verwässerter Aktie von 0,64 US-Dollar gegenüber einem Nettoverlust pro Aktie von 1,49 US-Dollar
Bereinigter Nettogewinn(2) pro verwässerter Aktie von $1,22 gegenüber $0,46
Der Cashflow aus betrieblicher Tätigkeit in Höhe von 201,9 Mio. USD stieg von 49,0 Mio. USD
Operative Höhepunkte
Das Gesamtvolumen(1) im Quartal stieg in allen vier Regionen: in Nordamerika um 118%, in Europa, dem Nahen Osten und Afrika (EMEA) um 62%, in Asien-Pazifik (APAC) um 140% und in Lateinamerika (LATAM) um 93%.
Nuvei fügte mehrere neue alternative Zahlungsmethoden ("APMs") hinzu, wodurch sich das Portfolio des Unternehmens zum Ende des dritten Quartals 2021 auf mehr als 500 APMs erhöhte, was den Zugang erweiterte und es den Kunden ermöglichte, mehr regional bekannte und bevorzugte digitale Zahlungsmethoden zu akzeptieren, um höhere Konversionsraten zu erzielen.
Das Unternehmen ermöglichte Auszahlungen in Nordamerika mit Visa Direct und erweiterte damit sein Portfolio an Echtzeit-Auszahlungsoptionen, die vollständig abgestimmt und netto abgewickelt werden, wodurch der Zahlungsprozess vereinfacht, die Effizienz verbessert und den Händlerkunden erhebliche Vorteile geboten werden.
Nuvei hat mit der Kartenausgabe in Europa einen neuen Geschäftszweig für das Unternehmen eröffnet, der das Produktangebot und die Lösungskapazitäten für seine Händlerkunden in der Region erweitert und neue Marktchancen eröffnet.
Nuvei konnte im dritten Quartal mehrere neue Kunden gewinnen, darunter BetMGM, 888 und SI Sportsbook (Sports Illustrated's erster Einstieg in Online-Glücksspiel und Sportwetten in den USA), Carousel Group, Triplebet/Matchbet und PrizePicks. Außerdem wurde das Unternehmen von Holland Casino, dem ersten Online-Casino in den Niederlanden, als Anbieter von Zahlungslösungen ausgewählt.
Nuvei hat die bereits angekündigten Übernahmen von SimplexCC Ltd. ("Simplex") und Paymentez LLC ("Paymentez") am 1. September 2021 abgeschlossen.
Die Übernahme von Simplex erweitert die Möglichkeiten von Nuvei, maßgeschneiderte Betrugspräventions- und Risikomanagement-Tools anzubieten, die auf bewährter künstlicher Intelligenz (KI) basieren. Dies führt zu höheren Konversionsraten und besserer Liquidität, die sofortige Fiat-Käufe für Kryptowährungen, NFTs und dezentrale Finanzdienstleister (DeFi) vereinfachen. Nuvei beabsichtigt, die fortschrittlichen Fähigkeiten und verbesserten Lösungen von Simplex seinen Händlern in allen seinen Schwerpunktbranchen anzubieten und in ähnlicher Weise alle Produktlösungen und Fähigkeiten von Nuvei bei den Kunden von SImplex einzuführen.
Mit der Übernahme von Paymentez vergrößert Nuvei seinen gesamten adressierbaren Markt, indem es seine Präsenz in Lateinamerika deutlich ausbaut und stärkt, seine regionalen Abwicklungskapazitäten erweitert, die Unterstützung zusätzlicher lokaler Zahlungsmethoden ermöglicht und sicherstellt, dass das Unternehmen gut aufgestellt ist, um neue und bestehende globale Kunden in dieser schnell wachsenden Region für den Online-Handel zu bedienen.
Das Unternehmen verstärkte seine Führungsspitze und beförderte Max Attias zum Group Chief Technology Officer ("CTO"), nachdem der frühere langjährige CTO Keith Birdsong in den Ruhestand getreten war, und ernannte den Fintech-Branchenveteranen Guillaume Conteville zum Chief Marketing Officer und die Personalleiterin Nikki Zinman zum Chief People Officer.
Am 8. Oktober 2021 schloss Nuvei seinen Börsengang in den Vereinigten Staaten am Nasdaq Global Select Market (Nasdaq) ab und emittierte insgesamt 3,45 Millionen nachrangig stimmberechtigte Aktien (einschließlich der vollständigen Ausübung der Mehrzuteilungsoption durch die Konsortialbanken) für einen Bruttoerlös von rund 424,8 Millionen US-Dollar.
Finanzieller Ausblick
Für die drei Monate und das Jahr, das am 31. Dezember 2021 endet, erwartet Nuvei ein Gesamtvolumen(1), einen Umsatz und ein bereinigtes EBITDA(2) in den unten aufgeführten Bereichen. In Anbetracht der starken Leistung in den drei Monaten bis zum 30. September 2021, in denen Nuvei den zuvor erwarteten Umsatz und das bereinigte EBITDA(2) übertraf, sowie der anhaltenden Dynamik des Geschäfts hebt die Geschäftsführung den Finanzausblick für das Jahr bis zum 31. Dezember 2021 an. Der aktualisierte Finanzausblick und insbesondere das bereinigte EBITDA(2) spiegeln die Strategie des Unternehmens wider, seine Investitionen in Vertrieb, Marketing, Innovation, Technologie und die Infrastruktur, die sich aus der jüngsten Übernahme von Mazooma ergeben hat, zu beschleunigen. Das Unternehmen erwartet, dass diese Investitionen seinen Wachstumsplan unterstützen werden. Der Finanzausblick umfasst auch die kürzlich abgeschlossenen Übernahmen von Simplex und Paymentez.
Der Finanzausblick ist in vollem Umfang eingeschränkt und basiert auf einer Reihe von Annahmen, die unter der Überschrift "Zukunftsgerichtete Informationen" in dieser Pressemitteilung beschrieben werden. Der Ausblick von Nuvei stellt auch einen "Finanzausblick" im Sinne der geltenden Wertpapiergesetze dar und dient dazu, dem Leser das Verständnis der finanziellen Leistung des Unternehmens zu erleichtern und den Fortschritt bei der Erreichung der Ziele des Managements zu messen; der Leser wird darauf hingewiesen, dass er für andere Zwecke möglicherweise nicht geeignet ist.
Drei Monate bis zum 31. Dezember 2021
Jahr bis 31. Dezember 2021
(In U.S. dollars)
$
$
$
Previous
Aktualisiert
Total volume(1) (in billions)
25.5 - 26.5
88 - 91
90 - 91
Revenue (in millions)
204 - 210
690 - 705
717 - 723
Bereinigtes EBITDA(2) (in Millionen)
86 - 90
295 - 305
312 - 316
Wachstumsziele
Die mittelfristigen(3) jährlichen Wachstumsziele von Nuvei für das Gesamtvolumen(1) und den Umsatz sowie das längerfristige Ziel für die bereinigte EBITDA-Marge(2) sind in der folgenden Tabelle aufgeführt. Das Unternehmen geht davon aus, dass es seine mittel-(3) und langfristigen(3) Ziele durch die anhaltende Dynamik und Leistung seines Kerngeschäfts erreichen wird, die durch die geografische Expansion, Produktinnovationen, den wachsenden Anteil an Händlerkunden, die Gewinnung neuer Händlerkunden über seinen Direktvertriebskanal und die wachsende Vertriebspipeline sowie den günstigen Rückenwind der von ihm bedienten Branchen angetrieben wird.
Growth Targets
Total volume(1)
Mittelfristig mehr als 30 % jährliches Wachstum(3)
Revenue
Mittelfristig mehr als 30 % jährliches Wachstum(3)
Adjusted EBITDA margin(2)
50 % auf lange Sicht(3)
(1) Das Gesamtvolumen stellt nicht den vom Unternehmen erzielten Umsatz dar, sondern den Gesamtwert der Transaktionen, die von Händlern im Rahmen einer vertraglichen Vereinbarung mit dem Unternehmen abgewickelt werden. Das Gesamtvolumen wird im jüngsten Bericht der Geschäftsführung über die Finanz- und Ertragslage des Unternehmens ausführlicher erläutert.
(2) Das bereinigte EBITDA, die bereinigte EBITDA-Marge und der bereinigte Nettogewinn sind Non-IFRS-Kennzahlen. Siehe "Nicht-IFRS-Kennzahlen".
(3) "Mittelfristig" und "Langfristig" wurden von Nuvei nicht definiert und Nuvei beabsichtigt auch nicht, sie zu definieren. Diese Ziele sollten nicht als Projektionen, Prognosen oder erwartete Ergebnisse betrachtet werden, sondern als Ziele, die sich aus der Umsetzung unserer Strategie ergeben können. Diese Wachstumsziele sind voll qualifiziert und basieren auf einer Reihe von Annahmen, die unter der Überschrift "Zukunftsgerichtete Informationen" in dieser Pressemitteilung beschrieben sind.
ConferenceCall Information
Nuvei wird heute, am 9. November 2021, um 8:30 Uhr ET eine Telefonkonferenz zu den Finanzergebnissen des dritten Quartals 2021 abhalten. Moderiert wird die Telefonkonferenz von Philip Fayer, Vorsitzender und CEO, und 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.
Die Telefonkonferenz kann auch live per Telefon unter der Nummer 877-425-9470 (gebührenfrei in den USA/Kanada) oder 201-389-0878 (international) verfolgt werden. Eine Stunde nach der Telefonkonferenz wird eine Aufzeichnung verfügbar sein, die unter der Nummer 844-512-2921 (gebührenfrei in den USA/Kanada) oder 412-317-6671 (international) abgerufen werden kann; die Konferenz-ID lautet 13724346. Die Aufzeichnung wird bis Dienstag, den 23. November 2021, verfügbar sein.
About Nuvei
Wir sind Nuvei (Nasdaq: NVEI) (TSX: NVEI), der globale Partner für Zahlungssysteme erfolgreicher Marken. Wir bieten die Intelligenz und die Technologie, die Unternehmen brauchen, um lokal und global erfolgreich zu sein, und zwar durch eine einzige Integration. Durch die Verbindung von Zahlungstechnologie und Beratung helfen wir Unternehmen, Zahlungsbarrieren zu beseitigen, Betriebskosten zu optimieren und die Akzeptanzraten zu erhöhen. Unsere firmeneigene Plattform bietet nahtlose Ein- und Auszahlungsmöglichkeiten und verbindet Händler mit ihren Kunden in 204 Märkten weltweit, mit lokalem Acquiring in 45 Märkten. Mit der Unterstützung von über 500 lokalen und alternativen Zahlungsmethoden, fast 150 Währungen und 40 Kryptowährungen können Händler/innen jede Zahlungsmöglichkeit nutzen, die sich ihnen bietet. Unser Ziel ist es, unsere Welt zu einem lokalen Marktplatz zu machen.
Der ungeprüfte verkürzte Konzernzwischenabschluss von Nuvei wurde in Übereinstimmung mit den vom International Accounting Standards Board herausgegebenen IFRS erstellt. Die Informationen in dieser Pressemitteilung enthalten Non-IFRS-Kennzahlen, nämlich das bereinigte EBITDA, die bereinigte EBITDA-Marge, den bereinigten Nettogewinn, den bereinigten Nettogewinn je unverwässerter Aktie und den bereinigten Nettogewinn je verwässerter Aktie. Diese Kennzahlen sind nach IFRS nicht anerkannt und haben keine standardisierte Bedeutung, die von den IFRS vorgeschrieben ist, und sind daher wahrscheinlich nicht mit ähnlichen Kennzahlen anderer Unternehmen vergleichbar. Vielmehr werden diese Kennzahlen als zusätzliche Informationen zur Verfügung gestellt, um die IFRS-Kennzahlen zu ergänzen und ein besseres Verständnis der Geschäftsergebnisse des Unternehmens aus Sicht der Geschäftsführung zu ermöglichen. Dementsprechend sollten diese Kennzahlen weder isoliert noch als Ersatz für die Analyse der nach IFRS ausgewiesenen Finanzdaten des Unternehmens betrachtet werden. Das bereinigte EBITDA, die bereinigte EBITDA-Marge, der bereinigte Reingewinn, der bereinigte Reingewinn je unverwässerte Aktie und der bereinigte Reingewinn je verwässerte Aktie werden verwendet, um den Anlegern ein zusätzliches Maß für die betriebliche Leistung des Unternehmens an die Hand zu geben und so Trends im Kerngeschäft von Nuvei aufzuzeigen, die bei ausschließlicher Verwendung von IFRS-Kennzahlen möglicherweise nicht ersichtlich sind. Die Unternehmensleitung ist außerdem der Ansicht, dass Wertpapieranalysten, Investoren und andere interessierte Parteien bei der Bewertung von Emittenten häufig Non-IFRS-Kennzahlen verwenden. Die Unternehmensleitung von Nuvei verwendet auch Non-IFRS-Kennzahlen, um Vergleiche der Betriebsleistung von Periode zu Periode zu erleichtern, um jährliche Betriebsbudgets und -prognosen zu erstellen und um Komponenten der Managementvergütung zu bestimmen. Die Unternehmensleitung ist der Ansicht, dass das bereinigte EBITDA, die bereinigte EBITDA-Marge, der bereinigte Nettogewinn, der bereinigte Nettogewinn je unverwässerte Aktie und der bereinigte Nettogewinn je verwässerte Aktie wichtige zusätzliche Kennzahlen für die Leistung von Nuvei sind, vor allem weil diese und ähnliche Kennzahlen in der Zahlungsverkehrsbranche weit verbreitet sind, um die zugrunde liegende operative Leistung eines Unternehmens zu bewerten. Im Abschnitt "Non-IFRS-Kennzahlen" in den Erläuterungen und Analysen der Geschäftsführung finden Sie eine Beschreibung und Überleitung dieser Kennzahlen.
Forward-Looking Information
Diese Pressemitteilung enthält "zukunftsgerichtete Informationen" im Sinne der geltenden Wertpapiergesetze, einschließlich Nuveis Ausblick auf das Gesamtvolumen, den Umsatz und das bereinigte EBITDA für die drei Monate und das Jahr bis zum 31. Dezember 2021 sowie die mittel- und langfristigen Ziele für das Gesamtvolumen, den Umsatz und das bereinigte EBITDA. In einigen Fällen sind zukunftsgerichtete Informationen an der Verwendung von zukunftsgerichteten Begriffen wie "plant", "Ziele", "erwartet" oder "erwartet nicht", "wird erwartet", "eine Chance besteht", "Budget", "geplant", "Schätzungen", "Ausblick", "Prognosen", "Projektion", "Aussichten", "Strategie", "beabsichtigt", "antizipiert", "geht nicht davon aus", "glaubt" oder Abwandlungen solcher Wörter und Phrasen oder Aussagen, dass bestimmte Handlungen, Ereignisse oder Ergebnisse "können", "könnten", "würden", "könnten", "werden", "werden ergriffen", "auftreten" oder "erreicht werden", die Verneinung dieser Begriffe und ähnliche Terminologie. Darüber hinaus enthalten alle Aussagen, die sich auf Erwartungen, Absichten, Projektionen oder andere Charakterisierungen zukünftiger Ereignisse oder Umstände beziehen, zukunftsgerichtete Informationen. Aussagen, die zukunftsgerichtete Informationen enthalten, sind keine historischen Fakten, sondern stellen vielmehr die Erwartungen, Schätzungen und Prognosen der Geschäftsleitung in Bezug auf zukünftige Ereignisse oder Umstände dar. Der Ausblick und die Ziele von Nuvei in Bezug auf den Umsatz, das bereinigte EBITDA und die bereinigte EBITDA-Marge stellen ebenfalls einen "Finanzausblick" im Sinne der geltenden Wertpapiergesetze dar und sollen dem Leser helfen, die finanzielle Leistung des Unternehmens zu verstehen und die Fortschritte bei der Erreichung der Ziele des Managements zu messen; der Leser wird darauf hingewiesen, dass sie für andere Zwecke möglicherweise nicht geeignet sind. Zukunftsgerichtete Informationen beinhalten bekannte und unbekannte Risiken und Ungewissheiten, von denen viele außerhalb der Kontrolle des Unternehmens liegen und die dazu führen können, dass die tatsächlichen Ergebnisse erheblich von denen abweichen, die in diesen zukunftsgerichteten Informationen offengelegt oder impliziert werden. Zu diesen Risiken und Unwägbarkeiten gehören u. a. die im Abschnitt "Risikofaktoren" des am 17. März 2021 eingereichten jährlichen Informationsformulars des Unternehmens beschriebenen Risiken. Zukunftsgerichtete Informationen beruhen auf den Einschätzungen und Annahmen der Geschäftsführung und auf Informationen, die der Geschäftsführung derzeit zur Verfügung stehen. Insbesondere die hier dargelegten Einschätzungen, Aussichten und Ziele des Managements für das Gesamtvolumen, den Umsatz, das bereinigte EBITDA und die bereinigte EBITDA-Marge beruhen im Allgemeinen auf den folgenden Annahmen: (a) Die Betriebsergebnisse von Nuvei werden sich wie erwartet fortsetzen, (b) das Unternehmen wird seine wichtigsten strategischen Wachstumsprioritäten trotz der aktuellen COVID-19-Pandemie und der Maßnahmen zur Eindämmung des Virus weiterhin effektiv umsetzen, (c) das Unternehmen wird seinen bestehenden Kundenstamm beibehalten und ausbauen und gleichzeitig neue Kunden hinzugewinnen, (d) das Unternehmen wird keine Akquisitionen oder Veräußerungen vornehmen, (e) die wirtschaftlichen Bedingungen werden während des gesamten Zeitraums relativ stabil bleiben, (f) die Branchen, in denen Nuvei tätig ist, werden wie in der Vergangenheit weiter wachsen, (g) es wird keine Wechselkursschwankungen und keine Volatilität auf den Finanzmärkten geben, (h) es wird keine wesentlichen Änderungen in der Gesetzgebung oder bei den Vorschriften geben und (i) die aktuellen Steuergesetze bleiben in Kraft und werden nicht wesentlich geändert. Obwohl die in dieser Pressemitteilung enthaltenen zukunftsgerichteten Informationen auf Annahmen beruhen, die die Geschäftsführung für vernünftig hält, wird davor gewarnt, sich zu sehr auf diese Informationen zu verlassen, da die tatsächlichen Ergebnisse von den zukunftsgerichteten Informationen abweichen können. Sofern nicht anders vermerkt oder aus dem Kontext ersichtlich, werden die in dieser Pressemitteilung enthaltenen zukunftsgerichteten Informationen zum Datum dieser Pressemitteilung bereitgestellt, und das Unternehmen verpflichtet sich nicht, diese zukunftsgerichteten Informationen zu aktualisieren oder zu ändern, sei es aufgrund neuer Informationen, zukünftiger Ereignisse oder aus anderen Gründen, es sei denn, dies wird durch geltendes Recht gefordert.
Der Nettogewinn (-verlust) ist zurückzuführen auf:
Common shareholders of the Company
26,841
(78,579)
91,485
(127,956)
Non-controlling interest
1,161
710
3,221
1,709
28,002
(77,869)
94,706
(126,247)
Comprehensive income (loss) attributable to:
Common shareholders of the Company
17,269
(87,428)
71,374
(113,495)
Non-controlling interest
1,161
710
3,221
1,709
18,430
(86,718)
74,595
(111,786)
Nettogewinn (-verlust) pro Aktie
Den Stammaktionären des Unternehmens zurechenbarer Nettogewinn (-verlust) je Aktie
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
Überleitung des bereinigten EBITDA zum Nettogewinn (-verlust)
(In Tausend U.S.-Dollar)
Three months endedSeptember 30
Nine months endedSeptember 30
2021
2020
2021
2020
$
$
$
$
Nettogewinn (-verlust)
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)
Abschreibung und Amortisation
23,152
16,931
64,890
51,264
Income tax expense
6,202
3,505
17,381
3,979
Akquisitions-, Integrations- und Abfindungskosten (a)
7,218
2,418
17,058
5,296
Aktienbasierte Vergütungen (b)
11,187
6,472
20,245
7,207
Loss (gain) on foreign currency exchange
727
(9,544)
1,973
17,889
Rechtsstreitigkeiten und Sonstiges (c)
(138)
(802)
(42)
(146)
Bereinigtes EBITDA (d)
80,943
40,991
225,780
111,669
Vorschuss von Dritten - erhaltener Restbetrag des Händlers (e)
1,854
3,848
7,720
9,516
Dieser Posten stellt die Veränderung des Rücknahmewerts von Aktien dar, die vor der TSX-Notierung des Unternehmens als Verbindlichkeiten eingestuft wurden. Im Rahmen der TSX-Notierung wurden diese Aktien als nachrangige Stimmrechtsaktien in Eigenkapital umgewandelt. Diese Aufwendungen sind in den Finanzierungskosten enthalten.
Dieser Posten bezieht sich auf den Abschreibungsaufwand für immaterielle Vermögenswerte, die aus dem Kaufpreisanpassungsverfahren für erworbene Unternehmen und Geschäftsbereiche sowie aus dem Erwerb aller ausstehenden Aktien von Pivotal Holdings Ltd. durch Nuvei im September 2017 stammen.
Diese Ausgaben beziehen sich auf:
Honorare, Rechts-, Beratungs-, Buchhaltungs- und sonstige Gebühren und Aufwendungen im Zusammenhang mit unseren Akquisitions- und Finanzierungsaktivitäten. In den drei Monaten und den neun Monaten bis zum 30. September 2021 beliefen sich diese Aufwendungen auf 0,7 Mio. USD bzw. 10,5 Mio. USD (2,0 Mio. USD und 5,2 Mio. USD in den drei Monaten und den neun Monaten bis zum 30. September 2020). Diese Kosten werden unter dem Posten Honorare in den Vertriebs-, Verwaltungs- und Gemeinkosten ausgewiesen.
akquisitionsbedingte Vergütungen. In den drei Monaten und den neun Monaten bis zum 30. September 2021 beliefen sich diese Aufwendungen auf 6,3 Mio. USD (0,2 Mio. USD und 0,7 Mio. USD in den drei Monaten und den neun Monaten bis zum 30. September 2020). Diese Kosten werden unter dem Posten Mitarbeitervergütung in den Vertriebs-, Verwaltungs- und Gemeinkosten ausgewiesen.
die Veränderung der aufgeschobenen Kaufpreiszahlungen für zuvor erworbene Unternehmen, die in den drei Monaten und in den neun Monaten bis zum 30. September 2021 null betrug (null in den drei Monaten bis zum 30. September 2020 und ein Gewinn von 1,3 Mio. USD in den neun Monaten bis zum 30. September 2020).
Abfindungen und Integrationskosten. In den drei Monaten und den neun Monaten bis zum 30. September 2021 beliefen sich die Abfindungskosten auf 0,3 Mio. USD (0,2 Mio. USD und 0,6 Mio. USD in den drei Monaten und den neun Monaten bis zum 30. September 2020). Diese Aufwendungen sind in den Vertriebs-, Verwaltungs- und Gemeinkosten enthalten.
Bei diesen Aufwendungen handelt es sich um nicht zahlungswirksame Aufwendungen, die im Zusammenhang mit Aktienoptionen und anderen im Rahmen von aktienbasierten Plänen ausgegebenen Prämien erfasst wurden.
Dieser Posten umfasst in erster Linie Rechtsstreitigkeiten und damit verbundene Rechtskosten, die außerhalb des normalen Geschäftsverlaufs entstanden sind, sowie nicht zahlungswirksame Gewinne, Verluste und Rückstellungen und bestimmte andere Kosten. Diese Kosten werden unter dem Posten "Sonstige" der Vertriebs-, Verwaltungs- und Gemeinkosten ausgewiesen.
Dieser Posten spiegelt den Ertragsteueraufwand für steuerpflichtige Anpassungen unter Anwendung des Steuersatzes des jeweiligen Landes wider.
Der bereinigte Reingewinn ist eine Non-IFRS-Kennzahl, die das Unternehmen zur weiteren Bewertung seiner operativen Leistung verwendet.
Der bereinigte Reingewinn je verwässerte Aktie wird unter Berücksichtigung der am Ende des jeweiligen Zeitraums ausstehenden aktienbasierten Vergütungen auf vollständig verwässerter Basis berechnet, wenn diese zu diesem Zeitpunkt im Geld wären.
Daten zur konsolidierten Bilanz(in Tausend US-Dollar)
30. September 2021
31. Dezember 2020
$
$
Vermögenswerte
Umlaufvermögen
Bargeld
288,734
180,722
Forderungen aus Lieferungen und Leistungen und sonstige Forderungen
43,276
32,055
Inventar
419
80
Aktive Rechnungsabgrenzungsposten
6,920
4,727
Forderungen aus Ertragssteuern
4,156
6,690
Kurzfristiger Anteil der Vorschüsse an Dritte
4,630
8,520
Kurzfristiger Anteil des Vertragsvermögens
1,524
1,587
Gesamtes Umlaufvermögen vor Sondervermögen
349,659
234,381
Getrennte Fonds
592,388
443,394
Gesamtes Umlaufvermögen
942,047
677,775
Langfristige Vermögenswerte
Vorschüsse an Dritte
21,040
38,478
Eigentum und Ausrüstung
16,750
16,537
Immaterielle Vermögenswerte
756,593
524,232
Goodwill
1,133,864
969,820
Latente Steueransprüche
13,472
3,785
Vertragsvermögen
1,063
1,300
Verarbeiter-Einlagen
5,562
13,898
Sonstige langfristige Vermögenswerte
3,017
1,944
Gesamtvermögen
2,893,408
2,247,769
Verbindlichkeiten
Kurzfristige Verbindlichkeiten
Verbindlichkeiten aus Lieferungen und Leistungen und sonstige Verbindlichkeiten
98,492
64,779
Zu zahlende Ertragssteuern
22,319
7,558
Kurzfristiger Anteil von Darlehen und Krediten
8,485
2,527
Sonstige kurzfristige Verbindlichkeiten
10,110
7,132
Kurzfristige Verbindlichkeiten insgesamt vor Verbindlichkeiten gegenüber Kaufleuten
139,406
81,996
Aufgrund von Kaufleuten
592,388
443,394
Kurzfristige Verbindlichkeiten insgesamt
731,794
525,390
Langfristige Verbindlichkeiten
Darlehen und Anleihen
501,385
212,726
Latente Steuerverbindlichkeiten
75,320
50,105
Sonstige langfristige Verbindlichkeiten
7,757
1,659
Gesamtverbindlichkeiten
1,316,256
789,880
Eigenkapital
Den Aktionären zurechenbares Eigenkapital
Grundkapital
1,644,611
1,625,785
Beigetragener Überschuss
38,688
11,966
Defizit
(119,557)
(211,042)
Kumuliertes sonstiges Gesamtergebnis
2,359
22,470
1,566,101
1,449,179
Non-controlling interest
11,051
8,710
Gesamtes Eigenkapital
1,577,152
1,457,889
Gesamtverbindlichkeiten und Eigenkapital
2,893,408
2,247,769
Consolidated Statements of Cash Flow Data(in thousands of U.S. dollars)
Für die neun Monate bis zum 30. September
2021
2020
$
$
Cash flow from operating activities
Nettogewinn (-verlust)
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
Nettofinanzierungskosten
9,569
152,427
Verlust aus Währungsumrechnung
1,973
17,889
Wertminderung bei Veräußerung einer Tochtergesellschaft
-
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)
Gezahlte Ertragssteuern
(14,291)
(10,579)
201,885
48,969
Cashflow aus (verwendet für) Investitionstätigkeit
Business acquisitions, net of cash acquired
(387,654)
-
Erlöse aus dem Verkauf einer Tochtergesellschaft, abzüglich der Barmittel
-
19,045
Abnahme (Zunahme) der sonstigen langfristigen Vermögenswerte
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
Einzahlungen aus Krediten und Anleihen
300,000
-
Transaktionskosten im Zusammenhang mit Darlehen und Anleihen
(5,373)
(293)
Erlöse aus der Ausübung von Aktienoptionen
6,499
-
Erlöse aus der Ausgabe von Aktien mit nachrangigem Stimmrecht
-
758,597
Transaktionskosten aus der Ausgabe von Stammaktien
(74)
(38,561)
Rückzahlung von Wandelschuldverschreibungen von Aktionären
-
(93,384)
Rückzahlung von Darlehen und Anleihen
-
(642,786)
Zahlung von Leasingverbindlichkeiten
(1,962)
(1,795)
Vom Tochterunternehmen an nicht beherrschende Anteile gezahlte Dividende
(880)
(600)
298,210
(18,822)
Auswirkung von Wechselkursschwankungen auf die Zahlungsmittel
MONTREAL, 19. Mai 2022 - Nuvei Corporation ("Nuvei" oder das "Unternehmen") (Nasdaq: NVEI) (TSX: NVEI), die Zahlungsplattform von morgen, gibt heute bekannt, dass sie eine Partnerschaft mit dem schwedischen Online-Glücksspielbetreiber Betsson Group eingegangen ist, um sofortige Ein- und Auszahlungen in ihrem eigenen Online-Sportwettengeschäft in Colorado, in den USA, zu ermöglichen, das sie unter dem Markennamen Betsafe gestartet hat.
Mit dem Produkt Sofortüberweisung ermöglicht Nuvei den Spielern des Online-Sportwettenanbieters Betsafe, sofortige Einzahlungen auf ihre Spielkonten direkt von ihrem Bankkonto aus vorzunehmen. Die Spieler profitieren auch von Sofortauszahlungen, mit denen sie ihre Gewinne in Echtzeit und rund um die Uhr direkt auf ihr Bankkonto erhalten können. Die branchenführende Nuvei-Sofortüberweisung speichert außerdem die Finanzdaten der Spieler/innen, sobald die erste Transaktion abgeschlossen ist, so dass die Spieler/innen mit nur einem Klick einzahlen oder eine Auszahlung beantragen können.
Mit dieser Ankündigung baut Nuvei sein Portfolio an Partnern auf dem US-amerikanischen iGaming-Markt weiter aus, nachdem das Jahr für das Unternehmen sehr gut begonnen hat. Betsson schließt sich anderen namhaften nordamerikanischen Betreibern wie DraftKings, FanDuel und BetMGM an und wählt Nuvei, um ein branchenführendes Zahlungserlebnis zu bieten.
"Wir sind bestrebt, unseren Spielern das beste Spielerlebnis auf dem Markt zu bieten, und der Zahlungsverkehr spielt bei der Umsetzung dieser Vision eine entscheidende Rolle", sagt Marina Bogard, Betssons Geschäftsführerin in den USA. "Die Integration von Nuvei Instant Bank Transfer in unsere Kasse gibt unseren Spielern nicht nur mehr Auswahlmöglichkeiten bei der Wahl ihrer bevorzugten Einzahlungsmethode, sondern ermöglicht es ihnen auch, Auszahlungen in Echtzeit anzufordern, von denen wir wissen, dass sie danach verlangen."
Philip Fayer, der Vorsitzende und CEO von Nuvei, sagte: "Betsson hat einen weltweiten Ruf als führendes Unternehmen in der Glücksspielbranche. Deshalb freuen wir uns, dass wir das Unternehmen nach dem erfolgreichen Start auf dem US-Markt beim Ausbau seiner Präsenz unterstützen können.
"Sofortige, bequeme Einzahlungen und Auszahlungen in Echtzeit sind absolut notwendig, um die Anforderungen der US-Spieler an ihre Sportwettenplattformen zu erfüllen. Deshalb ist Nuvei nach wie vor der Marktführer für Zahlungen im nordamerikanischen iGaming. Bereits im Jahr 2022 haben wir mit einigen der bedeutendsten Betreiber in der sich rasant entwickelnden US-Glücksspiellandschaft zusammengearbeitet, und Betsson gehört sicherlich zu dieser Kategorie."
Nuvei beweist weiterhin, warum es der weltweit führende Anbieter für Zahlungen in der Glücksspielbranche ist. Neben Instant Bank Transfer in den USA ermöglicht Nuvei Glücksspielanbietern die Akzeptanz von über 550 lokalen und alternativen Zahlungsarten sowie lokales Acquiring und Smart Routing für die Kartenakzeptanz.
Über Nuvei
Nuvei (Nasdaq: NVEI) (TSX: NVEI) ist die Zahlungsplattform von morgen. Die modulare, flexible und skalierbare Technologie von Nuvei wurde entwickelt, um das Geschäft der Kunden zu beschleunigen. Sie ermöglicht es führenden Unternehmen, Zahlungen der nächsten Generation zu akzeptieren, alle Auszahlungsoptionen anzubieten und von Kartenausgabe-, Bank-, Risiko- und Betrugsmanagementdiensten zu profitieren. Nuvei verbindet Unternehmen mit ihren Kunden in mehr als 200 Märkten, mit lokalem Acquiring in mehr als 45 Märkten, 150 Währungen und mehr als 550 alternativen Zahlungsmethoden, einschließlich Kryptowährungen, und bietet Kunden und Partnern die Technologie und den Einblick, um mit einer Integration lokal und global erfolgreich zu sein. Weitere Informationen findest du unter www.nuvei.com
Mit 20 Marken, darunter Betsafe, Betsson, NordicBet und CasinoEuro, die Sportwetten, Casinos und andere Spiele anbieten, ist die Betsson Group eine der größten Glücksspielgruppen der Welt und seit fast sechs Jahrzehnten im Herzen der Unterhaltung. Die Vision des Unternehmens ist es, das beste Kundenerlebnis in der Branche zu bieten - den Kunden zuzuhören, von ihnen zu lernen und ihre Erwartungen zu übertreffen. Die Betsson Gruppe ist eine hundertprozentige Tochtergesellschaft der an der Nasdaq Stockholm notierten Betsson AB. Weitere Informationen findest du unter www.betssongroup.com
