Accelerate growth and revenue of social gaming with frictionless payments

Reconciliation management

issuing

Discover Nuvei's seamless issuing payment solutions, including customizable physical and virtual cards, unified acquiring and issuing, and data-driven insights.

Power your checkout with APM solutions: digital wallets, local bank transfers, QR payments, buy-now-pay-later, and more. Deliver seamless, regionally preferred payment experiences that boost conversions and expand your reach.

Boost your business with Nuvei's real-time payments. Experience seamless, instant transaction processing to enhance cash flow and stay compliant with secure payment solutions.

Experience cost-efficient, reliable, and fast bank transfers with Nuvei. Streamline your payment processing, elevate customer satisfaction, and boost conversion rates globally.

reconciliation-management

Streamline your financial processes with Nuvei's Reconciliation Management. Automate and manage payment reconciliation effortlessly for improved accuracy and efficiency.

Payment orchestration

payment-orchestration

Master your payment operations with Nuvei's Payment Orchestration. Streamline and manage complex payment flows with our comprehensive tools for maximum control and insight.

Crypto & digital assets

crypto-digital-assets

Streamline your Web3 business with Nuvei's painless fiat-crypto conversion. Partner with us for seamless blockchain payment technologies and infrastructure to drive your crypto success.

Elevate the buying experience with Nuvei's embedded financial services. Discover seamless integration today and transform your revenue streams.

Chargeback resolution

chargeback-resolution

Mitigate chargeback risks with Nuvei's effective resolution services. Streamline dispute processes, reduce fraudulent claims, and protect your revenue with our advanced tools.

Facilitate global commerce with Nuvei's Currency Management. Simplify FX transactions, enhance payment flexibility, and offer customers native currency options for improved satisfaction.

Fraud & risk management

Authorization optimization

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Protect your business with Nuvei's Fraud & Risk Management solutions. Minimize threats and secure data while maintaining a smooth customer experience.

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Optimize payment authorizations across every channel. Boost your approval rates by up to 5 points, reduce declines, and recover revenue with intelligent routing and retry.

Accounts Receivable Management

accounts-receivable-management

Healthcare payment solutions

healthcare-payment-solutions

Legal and Professional Services

legal-and-professional-services

Small business financing

small-business-financing

Charitable Organizations

charitable-organizations

Service-based businesses

Independent software vendors

service-based-businesses

Nuvei offers tailored payment solutions for hospitality businesses, streamlining transactions for an elevated customer experience. Discover how our flexible, secure and easy-to-use systems can enhance your venue’s payment flow.

Boost customer satisfaction and operational efficiency with Nuvei's tailored automotive payment solutions. Enjoy seamless DMS integrations, multiple payment options, advanced fraud protection, and 24/7 support to elevate your business and focus on delivering exceptional service.

Simplify and elevate your grocery operations with Nuvei’s integrated payment solutions. Deliver fast, secure, and flexible payment experiences that build customer loyalty and keep your business thriving.

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Boost your software with Nuvei: Seamless integration, top security, diverse payments. Elevate your ISV platform today.

Crypto platforms & exchanges

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Discover the future of cryptocurrency transactions with Nuvei's scalable blockchain solutions. Access global payment ecosystems, enjoy seamless fiat-to-crypto exchanges, and benefit from full fraud protection. Ideal for platforms and exchanges seeking efficiency, compliance, and extended market reach.

Small & medium sized businesses

small-medium-sized-businesses

Empower your SMB with Nuvei's tailored payment solutions. Enjoy flexible, secure payment processing, innovative POS hardware, and 24/7 support to enhance your customer experience and growth.

Nuvei offers a comprehensive government payment solution designed for public sector agencies. Streamline operations, enhance security, reduce costs, and improve citizen experience with our innovative payment technology.

Discover leading B2B payment solutions that enhance efficiency. Elevate your AP and AR business operations today for seamless financial management.

Boost your travel business with Nuvei. Experience seamless, secure payments worldwide. Transform customer interactions now.

Transform your financial services with Nuvei's cutting-edge payment solutions. Experience enhanced security, compliance, and efficiency. Discover how we can help streamline your operations and elevate customer trust.

Unlock the full potential of your gaming platform with Nuvei's specialized payment solutions for the Online Gaming industry. Ensure seamless, secure transactions and enhance player satisfaction.

Upgrade your gaming business with Nuvei. Achieve better acceptance rates and global reach. Enhance player joy today.

Elevate your online store with Nuvei. Offer 700 payment methods and boost global sales. Start optimizing today.

Digital content & subscriptions

digital-content-subscriptions

Enhance digital content revenue with Nuvei's payment solutions. Perfect for subscriptions, offering seamless billing, global market access, and secure transaction processing.

Revolutionize your marketplace with Nuvei. Ensure secure, smooth transactions and expand globally. Discover how now.

Nuvei appoints Vicky Bindra as CPO / COO

nuvei-appoints-vicky-bindra-as-cpo-coo

Bindra will oversee Nuvei's product development and operations, supporting growth across geographies and verticals

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.

For more information, visit www.nuvei.com.

Contact:

Investor Relations

IR@nuvei.com

Public Relations
PR@nuvei.com

Nuvei appoints Laura Miller as Chief Revenue Officer and Global Head of eCommerce

nuvei-appoints-laura-miller-as-chief-revenue-officer-and-global-head-of-ecommerce

Learn about Nuvei's latest appointment of Laura Miller as Chief Revenue Officer and Global Head of E-commerce.

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.

For more information, visit www.nuvei.com

‍Contact: Public Relations

‍alex.hammond@nuvei.com

‍Investor Relations

‍IR@nuvei.com

Nuvei Announces Voting Results of its Annual Shareholders’ Meeting and Appointment of General Counsel and Corporate Secretary

nuvei-announces-voting-results-of-its-annual-shareholders-meeting-and-appointment-of-general-counsel-and-corporate-secretary

Nuvei 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”)

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

Nuvei Announces Third Quarter 2024 Results

nuvei-announces-third-quarter-2024-results

Nuvei Announces Third Quarter 2024 Results

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.

For more information, visit www.nuvei.com

Non-IFRS and Other Financial Measures

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.

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.

Contact:

Investors

Chris Mammone, Head of Investor Relations

IR@nuvei.com

_{(a) 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 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:}

_{(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.}

‍

Nuvei Announces Third Quarter 2023 Results

nuvei-announces-third-quarter-2023-results

Unveil the highlights of Nuvei's Q3 2023 performance. Discover key insights and growth milestones.

Nuvei Announces Third Quarter 2022 Results

nuvei-announces-third-quarter-2022-results

Nuvei Corporation (Nasdaq: NVEI) (TSX: NVEI), today reported its financial results for the three and nine months ended September 30, 2022

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.

Conference Call 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 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

Non-IFRS Financial Ratios

Adjusted EBITDA margin: Adjusted EBITDA margin means Adjusted EBITDA divided by revenue.

Supplementary Financial Measures

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.

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.

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.

Contact:

Investors

Anthony Gerstein
Vice President, Head of Investor Relations
anthony.gerstein@nuvei.com

‍Statements of Profit or Loss and Comprehensive Income or Loss Data

(in thousands of U.S. dollars except for shares and per share amounts)

	Three months endedSeptember 30		Nine months endedSeptember 30
	2022	2021	2022	2021
	$	$	$	$
Revenue	197,146	183,932	622,984	512,651
Cost of revenue	38,363	38,332	121,259	98,640
Gross profit	158,783	145,600	501,725	414,011
Selling, general and administrative expenses	149,184	106,076	442,501	290,382
Operating profit	9,599	39,524	59,224	123,629
Finance income	(4,131)	(538)	(6,427)	(2,309)
Finance cost	7,859	5,131	13,627	11,878
Net finance cost	3,728	4,593	7,200	9,569
Loss (gain) on foreign currency exchange	(12,528)	727	(20,415)	1,973
Income before income tax	18,399	34,204	72,439	112,087
Income tax expense	5,393	6,202	19,836	17,381
Net income	13,006	28,002	52,603	94,706
Other comprehensive income (loss)
Items that may be reclassified subsequently to profit and loss
Foreign operations – foreign currency translation differences	(33,599)	(9,572)	(64,054)	(20,111)
Comprehensive income (loss)	(20,593)	18,430	(11,451)	74,595
Net income attributable to:
Common shareholders of the Company	11,710	26,841	48,692	91,485
Non-controlling interest	1,296	1,161	3,911	3,221
	13,006	28,002	52,603	94,706
Comprehensive income (loss) attributable to:
Common shareholders of the Company	(21,889)	17,269	(15,362)	71,374
Non-controlling interest	1,296	1,161	3,911	3,221
	(20,593)	18,430	(11,451)	74,595
Net income per share
Net income per share attributable to common shareholders of the Company
Basic	0.08	0.19	0.34	0.66
Diluted	0.08	0.19	0.34	0.64
Weighted average number of common shares outstanding
Basic	141,311,785	139,252,523	141,866,671	138,728,421
Diluted	143,716,424	144,006,451	145,186,798	143,452,170

Consolidated Statements of Financial Position Data(in thousands of U.S. dollars)September 30, 2022December 31, 2021$$AssetsCurrent assetsCash and cash equivalents 753,612 748,576Trade and other receivables 53,562 39,262Inventory 1,239 1,277Prepaid expenses 8,225 8,483Income taxes receivable 2,757 3,702Current portion of advances to third parties 924 3,104Current portion of contract assets 1,359 1,354Total current assets before segregated funds 821,678 805,758Segregated funds 628,892 720,874Total current assets 1,450,570 1,526,632Non-current assetsAdvances to third parties 3,290 13,676Property and equipment 28,066 18,856Intangible assets 689,457 747,600Goodwill 1,099,715 1,126,768Deferred tax assets 13,221 13,036Contract assets 980 1,091Processor deposits 4,462 4,788Other non-current assets 2,622 3,023Total Assets 3,292,383 3,455,470LiabilitiesCurrent liabilitiesTrade and other payables 110,772 101,848Income taxes payable 15,796 13,478Current portion of loans and borrowings 8,526 7,349Other current liabilities 6,222 13,226Total current liabilities before due to merchants 141,316 135,901Due to merchants 628,892 720,874Total current liabilities 770,208 856,775Non-current liabilitiesLoans and borrowings 503,470 501,246Deferred tax liabilities 58,634 71,100Other non-current liabilities 2,664 4,509Total Liabilities 1,334,976 1,433,630EquityEquity attributable to shareholdersShare capital 2,015,091 2,057,105Contributed surplus 169,758 69,943Deficit (164,274) (108,749)Accumulated other comprehensive loss (72,615) (8,561) 1,947,960 2,009,738Non-controlling interest 9,447 12,102Total Equity 1,957,407 2,021,840Total Liabilities and Equity 3,292,383 3,455,470

Consolidated Statements of Cash Flow Data(in thousands of U.S. dollars)
For the nine months ended September 30,	2022	2021
	$	$
Cash flow from operating activities
Net income	52,603	94,706
Adjustments for:
Depreciation of property and equipment	5,936	4,276
Amortization of intangible assets	73,822	60,614
Amortization of contract assets	1,425	1,585
Share-based payments	103,666	20,245
Net finance cost	7,200	9,569
Loss (gain) on foreign currency exchange	(20,415)	1,973
Income tax expense	19,836	17,381
Changes in non-cash working capital items	(17,050)	15,269
Interest paid	(15,152)	(9,559)
Interest received	4,577	117
Income taxes paid (net)	(23,295)	(14,291)
	193,153	201,885
Cash flow used in investing activities
Business acquisitions, net of cash acquired	—	(387,654)
Payment of acquisition-related contingent consideration	(2,027)	—
Acquisition of property and equipment	(8,681)	(3,564)
Acquisition of intangible assets	(25,130)	(13,963)
Decrease in other non-current assets	726	9,756
Net decrease in advances to third parties	1,884	7,924
	(33,228)	(387,501)
Cash flow from (used in) financing activities
Shares repurchased and cancelled	(109,158)	—
Transaction costs from issuance of shares	(903)	(74)
Proventi da esercizio di stock option	1,474	6,499
Rimborso di prestiti e mutui	(3,840)	—
Proventi da prestiti e mutui	-	300,000
Costi di transazione relativi a prestiti e mutui	—	(5,373)
Pagamento di debiti di leasing	(2,674)	(1,962)
Acquisto di partecipazioni di minoranza	(39,751)	—
Dividendo pagato da una società controllata a una partecipazione di minoranza	(260)	(880)
	(155,112)	298,210
Effetto delle variazioni dei tassi di cambio sulla liquidità	223	(4,582)
Aumento netto della liquidità e degli equivalenti di liquidità	5,036	108,012
Disponibilità liquide e mezzi equivalenti – All'inizio del periodo	748,576	180,722
Disponibilità liquide e mezzi equivalenti – Fine periodo	753,612	288,734

Riconciliazione dell'EBITDA rettificato e dell'EBITDA rettificato meno le spese in conto capitale con l'utile netto

(In migliaia di dollari USA)

	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)
Ammortamento	26,269	23,152	79,758	64,890
Income tax expense	5,393	6,202	19,836	17,381
Costi di acquisizione, integrazione e liquidazione^(a)	11,324	7,218	21,490	17,058
Pagamenti basati su azioni e relative imposte sui salari ^(b)	33,819	11,187	103,763	20,245
Loss (gain) on foreign currency exchange	(12,528)	727	(20,415)	1,973
Transazioni legali e altro^(c)	190	(138)	1,397	(42)
EBITDA rettificato	81,201	80,943	265,632	225,780
Acquisizione di immobili e attrezzature e di attività immateriali	(12,724)	(6,402)	(33,811)	(17,527)
EBITDA rettificato meno spese in conto capitale	68,477	74,541	231,821	208,253

Queste spese si riferiscono a:
onorari e spese professionali, legali, di consulenza, di contabilità e di altro tipo relative alle nostre attività di acquisizione e di finanziamento. Per i tre mesi e i nove mesi chiusi al 30 settembre 2022, tali spese sono state pari a 2,8 e 6,2 milioni di dollari (0,7 e 10,5 milioni di dollari per i tre mesi e i nove mesi chiusi al 30 settembre 2021). Questi costi sono presentati nella voce "onorari professionali" delle spese di vendita, generali e amministrative.
I compensi legati alle acquisizioni sono stati di 7,5 milioni di dollari e 14,3 milioni di dollari per i tre mesi e i nove mesi conclusi il 30 settembre 2022 e di 6,3 milioni di dollari per i tre mesi e i nove mesi conclusi il 30 settembre 2021. Questi costi sono presentati nella voce retribuzione dei dipendenti delle spese di vendita, generali e amministrative.
variazione del corrispettivo d'acquisto differito per le attività precedentemente acquisite. Sono stati riconosciuti 0,5 milioni di dollari e 1,0 milioni di dollari di guadagno per i tre mesi e i nove mesi conclusi il 30 settembre 2022 e zero per il 2021. Questi importi sono presentati nella voce rettifica dei corrispettivi potenziali delle spese di vendita, generali e amministrative.
spese di licenziamento e di integrazione, che sono state pari a 1,5 milioni di dollari e 2,1 milioni di dollari per i tre mesi e i nove mesi conclusi il 30 settembre 2022 (0,3 milioni di dollari per i tre mesi e i nove mesi conclusi il 30 settembre 2021). Queste spese sono presentate nella sezione spese di vendita, generali e amministrative.
Queste spese rappresentano le spese riconosciute in relazione alle stock option e ad altri premi emessi nell'ambito di piani basati su azioni, nonché le relative imposte sui salari che sono direttamente attribuibili ai pagamenti basati su azioni. Per i tre mesi e i nove mesi chiusi al 30 settembre 2022, le spese sono consistite in pagamenti non in contanti basati su azioni per 33,8 milioni di dollari e 103,7 milioni di dollari (11,2 milioni di dollari e 20,2 milioni di dollari per i tre mesi e i nove mesi chiusi al 30 settembre 2021), spese non significative e 0,1 milioni di dollari per le relative imposte sui salari (nulle nel 2021).
Questa voce rappresenta principalmente le transazioni legali e i relativi costi legali, oltre a guadagni, perdite e accantonamenti non monetari e alcuni altri costi. Questi costi sono presentati nelle spese generali, amministrative e di vendita.

Riconciliazione dell'utile netto rettificato e dell'utile netto rettificato per azione base e per azione diluita con l'utile netto

(In migliaia di dollari USA, esclusi i valori per azione e per azione)

	Three months endedSeptember 30		Nine months endedSeptember 30
	2022	2021	2022	2021
$	$	$	$

Net income	13,006	28,002	52,603	94,706
Variazione del valore equo della passività di riacquisto di azioni	-	-	(5,710)	-
Ammortamento delle attività immateriali legate alle acquisizioni^(a)	22,427	20,042	68,904	56,151
Costi di acquisizione, integrazione e liquidazione^(b)	11,324	7,218	21,490	17,058
Pagamenti basati su azioni e relative imposte sui salari^(c)	33,819	11,187	103,763	20,245
Loss (gain) on foreign currency exchange	(12,528)	727	(20,415)	1,973
Transazioni legali e altro^(d)	190	(138)	1,397	(42)
Aggiustamenti	55,232	39,036	169,429	95,385
Imposte sul reddito relative alle rettifiche^(e)	(5,803)	(4,697)	(15,882)	(12,083)
Utile netto rettificato	62,435	62,341	206,150	178,008
Utile netto attribuibile alle partecipazioni di minoranza	(1,296)	(1,161)	(3,911)	(3,221)
Utile netto rettificato attribuibile agli azionisti ordinari della Società	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

Utile netto rettificato per azione attribuibile agli azionisti comuni della Società^(f)
Basic	0.43	0.44	1.43	1.26
Diluted	0.43	0.42	1.39	1.22

Questa voce si riferisce alle spese di ammortamento sostenute per le attività immateriali create dal processo di aggiustamento del prezzo di acquisto di società e aziende acquisite e derivanti da un cambio di controllo della Società.
Queste spese si riferiscono a:
onorari e spese professionali, legali, di consulenza, di contabilità e di altro tipo relative alle nostre attività di acquisizione e di finanziamento. Per i tre mesi e i nove mesi chiusi al 30 settembre 2022, tali spese sono state pari a 2,8 e 6,2 milioni di dollari (0,7 e 10,5 milioni di dollari per i tre mesi e i nove mesi chiusi al 30 settembre 2021). Questi costi sono presentati nella voce "onorari professionali" delle spese di vendita, generali e amministrative.
I compensi legati alle acquisizioni sono stati pari a 7,5 milioni di dollari e 14,3 milioni di dollari per i tre mesi e i nove mesi conclusi il 30 settembre 2022 e a 6,3 milioni di dollari per i tre mesi e i nove mesi conclusi il 30 settembre 2021. Questi costi sono presentati nella voce retribuzione dei dipendenti delle spese di vendita, generali e amministrative.
variazione del corrispettivo d'acquisto differito per le attività precedentemente acquisite. Sono stati riconosciuti 0,5 milioni di dollari e 1,0 milioni di dollari di guadagno per i tre mesi e i nove mesi conclusi il 30 settembre 2022 e zero per il 2021. Questi importi sono presentati nella voce rettifica dei corrispettivi potenziali delle spese di vendita, generali e amministrative.
spese di licenziamento e di integrazione, che sono state pari a 1,5 milioni di dollari e 2,1 milioni di dollari per i tre mesi e i nove mesi conclusi il 30 settembre 2022 (0,3 milioni di dollari per i tre mesi e i nove mesi conclusi il 30 settembre 2021). Queste spese sono presentate nella sezione spese di vendita, generali e amministrative.
Queste spese rappresentano le spese riconosciute in relazione alle stock option e ad altri premi emessi nell'ambito di piani basati su azioni, nonché le relative imposte sui salari che sono direttamente attribuibili ai pagamenti basati su azioni. Per i tre mesi e i nove mesi chiusi al 30 settembre 2022, le spese sono consistite in pagamenti non in contanti basati su azioni per 33,8 milioni di dollari e 103,7 milioni di dollari (11,2 milioni di dollari e 20,2 milioni di dollari per i tre mesi e i nove mesi chiusi al 30 settembre 2021), spese non significative e 0,1 milioni di dollari per le relative imposte sui salari (nulle nel 2021).
Questa voce rappresenta principalmente le transazioni legali e i relativi costi legali, oltre a guadagni, perdite e accantonamenti non monetari e alcuni altri costi. Questi costi sono presentati nelle spese generali, amministrative e di vendita.
Questa voce riflette le spese per le imposte sul reddito sulle rettifiche imponibili utilizzando l'aliquota fiscale della giurisdizione applicabile.
Il numero di premi basati su azioni utilizzato nel calcolo della media ponderata diluita delle azioni ordinarie in circolazione nel calcolo dell'utile netto rettificato per azione diluita è determinato utilizzando il metodo delle azioni proprie come consentito dagli IFRS.

Ricavi per area geografica

La seguente tabella riassume i nostri ricavi per area geografica in base al luogo di fatturazione dell'esercente:

	Three months endedSeptember 30			Cambiamento			Nine months endedSeptember 30			Cambiamento
(In migliaia di dollari USA, eccetto le percentuali)	2022	2021					2022	2021
$	$		$	%		$	$		$	%
Revenue
Europa, Medio Oriente e Africa	105,520	101,335		4,185	4 %		350,039	266,902		83,137	31 %
Nord America	83,087	76,020		7,067	9 %		247,170	225,028		22,142	10 %
America Latina	7,588	5,929		1,659	28 %		20,924	16,437		4,487	27 %
Asia Pacifico	951	648		303	47 %		4,851	4,284		567	13 %
	197,146	183,932		13,214	7 %		622,984	512,651		110,333	22 %

La seguente tabella riconcilia i ricavi con i ricavi a valuta costante e la crescita dei ricavi a valuta costante per il periodo indicato:

(In migliaia di dollari USA, eccetto le percentuali)	Trimestre chiuso alil 30 settembre 2022				Trimestre chiuso alil 30 settembre 2021
Ricavi come riportati	Impatto delle valute estere sui ricavi	Ricavi a valuta costante		Ricavi come riportati	Crescita dei ricavi	Crescita dei ricavi a valuta costante
$	$	$		$

Revenue	197,146	11,490	208,636		183,932	7 %	13 %

Riconciliazione del fatturato organico a valuta costante e della crescita del fatturato organico a valuta costante con il fatturato

La seguente tabella riconcilia i ricavi con i ricavi organici a valuta costante e la crescita dei ricavi organici a valuta costante per il periodo indicato:

(In migliaia di dollari USA, eccetto le percentuali)	Trimestre chiuso alil 30 settembre 2022						Trimestre chiuso alil 30 settembre 2021
Ricavi come riportati	Ricavi da acquisizioni (a)	Ricavi da dismissioni	Impatto dei cambi sui ricavi organici	Fatturato organico a valuta costante		Ricavi come riportati	Ricavi da dismissioni	Ricavi organici comparabili	Crescita dei ricavi	Crescita organica dei ricavi a valuta costante
$	$	$		$		$	$	$

Revenue	197,146	(7,345)	-	10,999	200,800		183,932	-	183,932	7 %	9 %

(In migliaia di dollari USA, eccetto le percentuali)	Nove mesi chiusi alil 30 settembre 2022						Nove mesi chiusi alil 30 settembre 2021
Ricavi come riportati	Ricavi da acquisizioni (a)	Ricavi da dismissioni	Impatto dei cambi sui ricavi organici	Fatturato organico a valuta costante		Ricavi come riportati	Ricavi da dismissioni	Ricavi organici comparabili	Crescita dei ricavi	Crescita organica dei ricavi a valuta costante
$	$	$	$	$		$		$

Revenue	622,984	(37,608)	-	26,712	612,088		512,651	-	512,651	22 %	19 %

(a) Abbiamo acquisito Mazooma Technical Services Inc. ("Mazooma") il 3 agosto 2021 e SimplexCC Ltd. ("Simplex") e Paymentez LLC ("Paymentez") il 1° settembre 2021. ("Simplex") e Paymentez LLC ("Paymentez") il 1° settembre 2021.

Nuvei annuncia i risultati del terzo trimestre 2021

nuvei-annuncia-i-risultati-del-terzo-trimestre-2021

Nuvei Corporation (Nasdaq: NVEI) (TSX: NVEI) ha comunicato oggi i risultati finanziari del terzo trimestre conclusosi il 30 settembre 2021.

Nuvei reports in U.S. dollars and in accordance with International Financial Reporting Standards (“IFRS”)

MONTREAL, 9 novembre 2021 - Nuvei Corporation ("Nuvei" o la "Società") (Nasdaq: NVEI) (TSX: NVEI), partner tecnologico globale per i pagamenti di marchi prestigiosi, ha comunicato oggi i risultati finanziari del terzo trimestre conclusosi il 30 settembre 2021.

"Nel terzo trimestre abbiamo raggiunto una serie di importanti traguardi, tra cui risultati finanziari che hanno superato le previsioni fornite in precedenza, il rilascio di nuove soluzioni di prodotto innovative, la crescita del nostro portafoglio di metodi di pagamento alternativi ("APM"), l'annuncio di numerose ed entusiasmanti acquisizioni da parte di nuovi clienti e il completamento di tre acquisizioni che migliorano ed espandono il nostro mercato, le nostre capacità di prodotto e la nostra presenza geografica", ha dichiarato Philip Fayer, Presidente e CEO di Nuvei. "Il terzo trimestre ha segnato anche il nostro anniversario di un anno come società pubblica quotata alla Borsa di Toronto, seguito dal successo della nostra offerta pubblica iniziale negli Stati Uniti sul Nasdaq all'inizio di ottobre. Voglio ringraziare l'intero team di Nuvei per il suo instancabile contributo e per aver reso possibile tutto questo. Guardando all'attività, i nostri risultati sono guidati dalla nostra costante attenzione nell'aiutare i nostri clienti a connettersi ulteriormente con i loro clienti indipendentemente dal paese, dalla valuta o dal tipo di pagamento attraverso la nostra unica piattaforma integrata. Continuiamo a registrare uno slancio significativo nell'attività e siamo ben posizionati per una crescita sostenibile e redditizia. Siamo orgogliosi dei nostri risultati e abbiamo alzato le nostre prospettive finanziarie per l'intero anno 2021, ribadendo gli obiettivi di crescita a medio e lungo termine annunciati in precedenza".

Dati finanziari salienti per i tre mesi conclusi il 30 settembre 2021

Il volume totale⁽¹⁾ è aumentato dell'88%, passando da 11,5 miliardi di dollari a 21,6 miliardi di dollari.
L'eCommerce ha rappresentato l'83% del volume totale
I ricavi sono aumentati del 96%, passando da 93,8 milioni di dollari a 183,9 milioni di dollari.
L'utile netto è aumentato di 105,9 milioni di dollari, passando a 28,0 milioni di dollari da una perdita netta di 77,9 milioni di dollari.
L'EBITDA rettificato⁽²⁾ è aumentato del 97%, passando da 41,0 milioni di dollari a 80,9 milioni di dollari.
L'utile netto rettificato⁽²⁾ è stato di 62,3 milioni di dollari, rispetto ai 16,5 milioni di dollari del precedente^esercizio.
Utile netto per azione diluita di $0,19 rispetto a una perdita netta di $0,88
Utile netto rettificato⁽²⁾ per azione diluita di 0,42 dollari rispetto a 0,17 dollari.
Saldo di cassa di 288,7 milioni di dollari al 30 settembre 2021 rispetto a 180,7 milioni di dollari al 31 dicembre 2020.

Principali dati finanziari per i nove mesi conclusi il 30 settembre 2021

Il volume totale⁽¹⁾ è aumentato del 119%, passando da 29,3 miliardi di dollari a 64,1 miliardi di dollari.
L'eCommerce ha rappresentato l'85% del volume totale
I ricavi sono aumentati del 97%, passando da 260,3 milioni di dollari a 512,7 milioni di dollari.
L'utile netto è aumentato di 221,0 milioni di dollari, passando a 94,7 milioni di dollari, rispetto a una perdita netta di 126,2 milioni di dollari.
L'EBITDA rettificato⁽²⁾ è aumentato del 102%, passando da 111,7 milioni di dollari a 225,8 milioni di dollari.
L'utile netto rettificato⁽²⁾ è stato pari a 178,0 milioni di dollari rispetto ai 42,5 milioni di dollari del precedente^esercizio.
Utile netto per azione diluita di 0,64 dollari, rispetto a una perdita netta per azione di 1,49 dollari.
Utile netto rettificato⁽²⁾ per azione diluita di 1,22 dollari rispetto a 0,46 dollari.
Il flusso di cassa derivante dalle attività operative, pari a 201,9 milioni di dollari, è aumentato rispetto ai 49,0 milioni di dollari del precedente esercizio.

Punti salienti dell'attività

Il volume totale⁽¹⁾ nel trimestre è aumentato in tutte e quattro le regioni: il Nord America è cresciuto del 118%, l'Europa, il Medio Oriente e l'Africa (EMEA) del 62%, l'Asia-Pacifico (APAC) del 140% e l'America Latina (LATAM) del 93%.
Nuvei ha aggiunto diversi nuovi metodi di pagamento alternativi ("APM"), aumentando il portafoglio di APM della Società a più di 500 alla fine del terzo trimestre del 2021, ampliando l'accesso e consentendo ai suoi clienti di accettare un maggior numero di forme di metodi di pagamento digitali regionali e preferiti al fine di ottenere tassi di conversione più elevati.
La Società ha abilitato i pagamenti in Nord America con Visa Direct, ampliando e migliorando ulteriormente il suo portafoglio di opzioni di pagamento in tempo reale, completamente riconciliato e regolato al netto, semplificando così il processo di pagamento, migliorando l'efficienza e fornendo vantaggi significativi ai suoi clienti commercianti.
Nuvei ha lanciato l'emissione di carte in Europa, una nuova linea di business per l'azienda che ha ampliato ulteriormente l'offerta di prodotti e le capacità di soluzione per i suoi clienti commercianti nella regione e che presenta opportunità di mercato incrementali.
Nuvei ha guadagnato terreno nel settore del gioco online e delle scommesse sportive negli Stati Uniti ("Stati Uniti"), annunciando diversi nuovi clienti nel terzo trimestre, tra cui BetMGM, 888 e SI Sportsbook (la prima impresa di Sports Illustrated nel settore del gioco online e delle scommesse sportive negli Stati Uniti), Carousel Group, Triplebet/Matchbet e PrizePicks. Inoltre, la Società è stata scelta come fornitore di soluzioni di pagamento da Holland Casino, il primo casinò online dei Paesi Bassi.
Nuvei ha completato le acquisizioni precedentemente annunciate di SimplexCC Ltd. ("Simplex") e Paymentez LLC ("Paymentez") il 1° settembre 2021. ("Simplex") e Paymentez LLC ("Paymentez") il 1° settembre 2021.
L'acquisizione di Simplex espande le capacità di Nuvei di offrire strumenti di prevenzione delle frodi e di gestione del rischio su misura, supportati da una comprovata tecnologia di intelligenza artificiale (AI), con conseguenti tassi di conversione più elevati e una migliore liquidità che semplifica gli acquisti istantanei di criptovalute, NFT e fornitori di finanza decentralizzata (DeFi). Nuvei intende offrire le funzionalità avanzate e le soluzioni potenziate di Simplex ai suoi commercianti in tutti i suoi settori verticali, introducendo allo stesso modo tutte le soluzioni e le funzionalità dei prodotti di Nuvei ai clienti di SImplex.
L'acquisizione di Paymentez aumenta ulteriormente il mercato totale a cui Nuvei può rivolgersi, espandendo e rafforzando in modo significativo la sua presenza in America Latina, migliorando le sue capacità di elaborazione a livello regionale, consentendo il supporto di ulteriori metodi di pagamento locali e assicurando alla Società una buona posizione per servire i clienti globali nuovi ed esistenti in questa regione in rapida crescita per il commercio online.
La Società ha rafforzato la sua leadership esecutiva, promuovendo Max Attias a Group Chief Technology Officer ("CTO") dopo il pensionamento dell'ex CTO di lunga data, Keith Birdsong, e nominando Guillaume Conteville, veterano del settore fintech, come Chief Marketing Officer e Nikki Zinman, leader delle risorse umane, come Chief People Officer.
L'8 ottobre 2021, Nuvei ha completato la sua offerta pubblica iniziale (IPO) negli Stati Uniti sul Nasdaq Global Select Market (Nasdaq) emettendo un totale di 3,45 milioni di azioni con diritto di voto subordinato (incluso l'esercizio completo da parte dei sottoscrittori della loro opzione di sovrallocazione) per un ricavo lordo complessivo di circa 424,8 milioni di dollari.

Prospettive finanziarie

Per i tre mesi e l'anno che si concluderanno il 31 dicembre 2021, Nuvei prevede che il volume totale⁽¹⁾, i ricavi e l'EBITDA rettificato⁽²⁾ si collocheranno negli intervalli indicati di seguito. Considerando la forte performance dei tre mesi terminati il 30 settembre 2021, in cui Nuvei ha superato le previsioni di fatturato e di EBITDA rettificato⁽²⁾ precedentemente anticipate, nonché il continuo slancio dell'attività, la direzione ha alzato le previsioni finanziarie per l'anno che terminerà il 31 dicembre 2021. L'aggiornamento delle previsioni finanziarie e in particolare dell'EBITDA rettificato⁽²⁾ riflette la strategia della Società di accelerare gli investimenti in distribuzione, marketing, innovazione, tecnologia e nell'infrastruttura derivante dalla recente acquisizione di Mazooma. La Società prevede che questi investimenti sosterranno il suo piano di crescita. Le prospettive finanziarie includono anche le acquisizioni recentemente completate di Simplex e Paymentez.

Le previsioni finanziarie sono pienamente qualificate e si basano su una serie di ipotesi descritte nella sezione "Informazioni previsionali" del presente comunicato stampa. Le previsioni di Nuvei costituiscono inoltre "prospettive finanziarie" ai sensi delle leggi vigenti in materia di titoli e sono fornite allo scopo di aiutare il lettore a comprendere le prestazioni finanziarie della Società e a misurare i progressi compiuti verso gli obiettivi del management; si avverte il lettore che potrebbero non essere adatte ad altri scopi.

	Tre mesi fino al 31 dicembre 2021	Anno che termina 31 dicembre 2021
(In U.S. dollars)	$	$	$
		Previous	Aggiornato
Total volume⁽¹⁾ (in billions)	25.5 - 26.5	88 - 91	90 - 91
Revenue (in millions)	204 - 210	690 - 705	717 - 723
EBITDA rettificato⁽²⁾ (in milioni)	86 - 90	295 - 305	312 - 316

Obiettivi di crescita

Gli obiettivi di crescita annuale di Nuvei a medio termine⁽³⁾ per il volume totale⁽¹⁾ e il fatturato, nonché l'obiettivo a più lungo termine per il margine EBITDA rettificato⁽²⁾, sono riportati nella tabella seguente. La Società prevede di raggiungere i suoi obiettivi a medio⁽³⁾ e lungo termine⁽³⁾ grazie al continuo slancio e alle prestazioni della sua attività principale, grazie all'espansione geografica, all'innovazione dei prodotti, all'aumento della quota di portafoglio presso i clienti commerciali esistenti, alla conquista di nuovi clienti commerciali attraverso il canale di vendita diretta e alla crescente pipeline di vendita, nonché alle favorevoli prospettive dei settori in cui opera.

	Growth Targets

Total volume⁽¹⁾	Crescita annua del 30%+ nel medio termine⁽³⁾
Revenue	Crescita annua del 30%+ nel medio termine⁽³⁾
Adjusted EBITDA margin⁽²⁾	50% nel lungo periodo⁽³⁾

^{(1) Il}volume totale non rappresenta i ricavi della Società, ma piuttosto il valore totale in dollari delle transazioni elaborate dagli esercenti in base a un accordo contrattuale con la Società. Il volume totale è spiegato in modo più dettagliato nella più recente Discussione e analisi delle condizioni finanziarie e dei risultati operativi della Società.

^{(2) L'}EBITDA rettificato, il margine EBITDA rettificato e l'utile netto rettificato sono misure non IFRS. Vedere "Misure non IFRS".

⁽³⁾I termini "a medio termine" e "a lungo termine" non sono stati definiti da Nuvei né Nuvei intende definirli. Questi obiettivi non devono essere considerati come proiezioni, previsioni o risultati attesi, ma piuttosto come obiettivi che possono derivare dall'esecuzione della nostra strategia. Questi obiettivi di crescita sono completamente qualificati e si basano su una serie di ipotesi descritte nella sezione "Informazioni previsionali" del presente comunicato stampa.

Conference Call Information

Nuvei terrà una conference call per discutere i risultati finanziari del terzo trimestre 2021 oggi 9 novembre 2021 alle 8:30 am ET. Alla teleconferenza parteciperanno Philip Fayer, Presidente e CEO, e David Schwartz, CFO.

È possibile accedere alla teleconferenza in diretta chiamando il numero 877-425-9470 (numero verde USA/Canada) o 201-389-0878 (internazionale). Un replay sarà disponibile un'ora dopo la teleconferenza e sarà possibile accedervi chiamando il numero 844-512-2921 (numero verde USA/Canada) o 412-317-6671 (internazionale); l'ID della conferenza è 13724346. Il replay sarà disponibile fino a martedì 23 novembre 2021.

About Nuvei

Siamo Nuvei (Nasdaq: NVEI) (TSX: NVEI), il partner tecnologico globale per i pagamenti dei marchi più importanti. Forniamo l'intelligenza e la tecnologia di cui le aziende hanno bisogno per avere successo a livello locale e globale, attraverso un'unica integrazione - spingendole più avanti, più velocemente. Unendo tecnologia di pagamento e consulenza, aiutiamo le aziende a rimuovere gli ostacoli ai pagamenti, a ottimizzare i costi operativi e ad aumentare i tassi di accettazione. La nostra piattaforma proprietaria offre funzionalità di pay-in e payout senza soluzione di continuità, collegando gli esercenti con i loro clienti in 204 mercati in tutto il mondo, con l'acquiring locale in 45 mercati. Grazie al supporto di oltre 500 metodi di pagamento locali e alternativi, quasi 150 valute e 40 criptovalute, gli esercenti possono cogliere ogni opportunità di pagamento. Il nostro obiettivo è rendere il nostro mondo un mercato locale.

For more information, visit www.nuvei.com

Misure non IFRS

Il bilancio consolidato intermedio sintetico non revisionato di Nuvei è stato redatto in conformità agli IFRS emessi dall'International Accounting Standards Board. Le informazioni presentate in questo comunicato stampa includono misure finanziarie non IFRS, ovvero l'EBITDA rettificato, il margine EBITDA rettificato, l'utile netto rettificato, l'utile netto rettificato per azione base e l'utile netto rettificato per azione diluita. Queste misure non sono riconosciute dagli IFRS e non hanno un significato standardizzato prescritto dagli IFRS, pertanto è improbabile che siano comparabili con misure simili presentate da altre società. Piuttosto, queste misure sono fornite come informazioni aggiuntive per integrare le misure IFRS fornendo un'ulteriore comprensione dei risultati delle operazioni della Società dal punto di vista del management. Di conseguenza, queste misure non devono essere considerate isolatamente o in sostituzione dell'analisi delle informazioni finanziarie della Società riportate secondo gli IFRS. L'EBITDA rettificato, il margine EBITDA rettificato, l'utile netto rettificato, l'utile netto rettificato per azione di base e l'utile netto rettificato per azione diluita sono utilizzati per fornire agli investitori una misura supplementare delle prestazioni operative della Società e quindi per evidenziare le tendenze dell'attività principale di Nuvei che altrimenti potrebbero non essere evidenti se ci si basa esclusivamente sulle misure IFRS. La direzione della Società ritiene inoltre che gli analisti di titoli, gli investitori e altre parti interessate utilizzino spesso misure non IFRS nella valutazione degli emittenti. La direzione di Nuvei utilizza anche misure non IFRS per facilitare il confronto delle prestazioni operative da un periodo all'altro, per preparare i bilanci e le previsioni operative annuali e per determinare le componenti della retribuzione dei dirigenti. Il management della Società ritiene che l'EBITDA rettificato, il margine EBITDA rettificato, l'utile netto rettificato, l'utile netto rettificato per azione base e l'utile netto rettificato per azione diluita siano importanti misure integrative delle prestazioni di Nuvei, soprattutto perché queste e altre misure simili sono ampiamente utilizzate nel settore della tecnologia dei pagamenti come strumento di valutazione delle prestazioni operative sottostanti di una società. Per una descrizione e una riconciliazione di queste misure, si veda la sezione "Misure non IFRS" della discussione e analisi del management.

Forward-Looking Information

Il presente comunicato stampa contiene "informazioni previsionali" ai sensi delle leggi vigenti in materia di titoli, tra cui le previsioni di Nuvei sul volume totale, sui ricavi e sull'EBITDA rettificato per i tre mesi e per l'anno che si concluderà il 31 dicembre 2021, nonché gli obiettivi a medio e lungo termine sul volume totale, sui ricavi e sull'EBITDA rettificato. In alcuni casi, le informazioni previsionali possono essere identificate dall'uso di terminologia previsionale come "piani", "obiettivi", "si aspetta" o "non si aspetta", "si prevede", "esiste un'opportunità", "budget", "programmato", "stime", "prospettive", "previsioni", "proiezione", "prospettive", "strategia", "intende", "prevede", "non prevede", "crede", o variazioni di tali parole e frasi o affermazioni secondo cui determinate azioni, eventi o risultati "potrebbero", "potrebbero", "potrebbero", "saranno", "saranno intrapresi", "si verificheranno" o "saranno raggiunti", il negativo di questi termini e terminologia simile. Inoltre, qualsiasi dichiarazione che faccia riferimento ad aspettative, intenzioni, proiezioni o altre caratterizzazioni di eventi o circostanze future contiene informazioni previsionali. Le dichiarazioni contenenti informazioni previsionali non sono fatti storici, ma rappresentano invece le aspettative, le stime e le proiezioni del management riguardo a eventi o circostanze future. Le previsioni e gli obiettivi di Nuvei, a seconda dei casi, su ricavi, EBITDA rettificato e margine EBITDA rettificato costituiscono inoltre "prospettive finanziarie" ai sensi delle leggi sui titoli applicabili e sono fornite allo scopo di aiutare il lettore a comprendere le prestazioni finanziarie della Società e a misurare i progressi compiuti verso gli obiettivi del management; si avverte il lettore che potrebbero non essere adatte ad altri scopi. Le informazioni previsionali comportano rischi e incertezze noti e sconosciuti, molti dei quali al di fuori del controllo dell'Azienda, che potrebbero far sì che i risultati effettivi differiscano in modo sostanziale da quelli rivelati o impliciti in tali informazioni previsionali. Tali rischi e incertezze includono, a titolo esemplificativo ma non esaustivo, quelli descritti nella sezione "Fattori di rischio" del modulo informativo annuale della Società depositato il 17 marzo 2021. Le informazioni previsionali si basano sulle convinzioni e sulle ipotesi del management e sulle informazioni attualmente a sua disposizione. In particolare, le valutazioni, le prospettive e gli obiettivi del management per il volume totale, i ricavi, l'EBITDA rettificato e il margine EBITDA rettificato riportati nel presente documento si basano generalmente sulle seguenti ipotesi: (a) i risultati delle operazioni di Nuvei continueranno come previsto, (b) l'Azienda continuerà a realizzare efficacemente le sue priorità strategiche di crescita, nonostante l'attuale pandemia COVID-19 e le misure adottate per contenere il virus, (c) l'Azienda continuerà a mantenere e a far crescere la sua base di clienti esistenti e ad aggiungerne di nuovi, (d) l'Azienda non completerà alcuna acquisizione o cessione (e) le condizioni economiche rimarranno relativamente stabili per tutto il periodo, (f) i settori in cui Nuvei opera continueranno a crescere in linea con l'esperienza passata, (g) non ci saranno fluttuazioni nei tassi di cambio e volatilità nei mercati finanziari, (h) non ci saranno cambiamenti sostanziali nelle questioni legislative o regolamentari e (i) le attuali leggi fiscali rimarranno in vigore e non subiranno modifiche sostanziali. Sebbene le informazioni previsionali contenute nel presente comunicato stampa si basino su quelle che la direzione ritiene essere ipotesi ragionevoli, ti invitiamo a non fare eccessivo affidamento su queste informazioni poiché i risultati effettivi potrebbero variare rispetto alle informazioni previsionali. Se non diversamente specificato o se il contesto non indica diversamente, le informazioni previsionali contenute nel presente comunicato stampa sono fornite alla data del presente comunicato stampa e la Società non si impegna ad aggiornare o modificare tali informazioni previsionali a seguito di nuove informazioni, eventi futuri o altro, ad eccezione di quanto richiesto dalle leggi vigenti.

Contact:

Investors

Anthony Gerstein
Vice President, Head of Investor Relations
anthony.gerstein@nuvei.com

Prospetto degli utili o delle perdite e dati complessivi sul reddito o sulle perdite

(in thousands of U.S. dollars except for shares and per share amounts)

	Tre mesi chiusi 30 settembre		Nove mesi chiusi 30 settembre
	2021	2020	2021	2020
	$	$	$	$
Revenue	183,932	93,755	512,651	260,319
Cost of revenue	38,332	17,007	98,640	45,736
Gross profit	145,600	76,748	414,011	214,583
Selling, general and administrative expenses	106,076	60,776	290,382	166,535
Operating profit	39,524	15,972	123,629	48,048
Finance income	(538)	(1,375)	(2,309)	(4,170)
Costi finanziari	5,131	101,255	11,878	156,597
Oneri finanziari netti	4,593	99,880	9,569	152,427
Loss (gain) on foreign currency exchange	727	(9,544)	1,973	17,889
Utile (perdita) prima delle imposte sul reddito	34,204	(74,364)	112,087	(122,268)
Income tax expense	6,202	3,505	17,381	3,979
Utile (perdita) netto	28,002	(77,869)	94,706	(126,247)
Other comprehensive income (loss)
Items that may be reclassified subsequently to profit and loss
Foreign operations – foreign currency translation differences	(9,572)	(8,849)	(20,111)	14,461
Comprehensive income (loss)	18,430	(86,718)	74,595	(111,786)
Utile (perdita) netto attribuibile a:
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)
Utile (perdita) netto per azione
Utile (perdita) netto per azione attribuibile agli azionisti comuni della Società
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

Riconciliazione dell'EBITDA rettificato con l'utile netto (perdita)

(In migliaia di dollari USA)

	Three months endedSeptember 30		Nine months endedSeptember 30
	2021	2020	2021	2020
	$	$	$	$
Utile (perdita) netto	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)
Ammortamento	23,152	16,931	64,890	51,264
Income tax expense	6,202	3,505	17,381	3,979
Costi di acquisizione, integrazione e liquidazione ^(a)	7,218	2,418	17,058	5,296
Pagamenti basati su azioni ^(b)	11,187	6,472	20,245	7,207
Loss (gain) on foreign currency exchange	727	(9,544)	1,973	17,889
Transazioni legali e altro ^(c)	(138)	(802)	(42)	(146)
EBITDA rettificato ( ^d)	80,943	40,991	225,780	111,669
Anticipo da terzi - residuo mercantile ricevuto ^(e)	1,854	3,848	7,720	9,516

Questa voce rappresenta la variazione del valore di rimborso relativo alle azioni classificate come passività prima della quotazione della Società sul TSX. Nell'ambito della quotazione al TSX, tali azioni sono state convertite in azioni a voto subordinato. Queste spese sono incluse nei costi finanziari.
Questa voce si riferisce alle spese di ammortamento delle attività immateriali create dal processo di aggiustamento del prezzo di acquisto delle società e delle aziende acquisite e dall'acquisizione di tutte le azioni in circolazione di Pivotal Holdings Ltd. da parte di Nuvei nel settembre 2017.
Queste spese si riferiscono a:
onorari e spese professionali, legali, di consulenza, di contabilità e di altro tipo relative alle nostre attività di acquisizione e di finanziamento. Per i tre mesi e i nove mesi chiusi al 30 settembre 2021, tali spese sono state rispettivamente di 0,7 e 10,5 milioni di dollari (2,0 e 5,2 milioni di dollari per i tre mesi e i nove mesi chiusi al 30 settembre 2020). Questi costi sono presentati nella voce "onorari professionali" delle spese di vendita, generali e amministrative.
compensi legati alle acquisizioni. Per i tre mesi e i nove mesi chiusi al 30 settembre 2021, tali spese sono state pari a 6,3 milioni di dollari (0,2 milioni di dollari e 0,7 milioni di dollari per i tre mesi e i nove mesi chiusi al 30 settembre 2020). Questi costi sono presentati nella voce retribuzione dei dipendenti delle spese di vendita, generali e amministrative.
variazione del corrispettivo d'acquisto differito per le attività acquisite in precedenza, che è stato pari a zero per i tre mesi e i nove mesi chiusi al 30 settembre 2021 (zero per i tre mesi chiusi al 30 settembre 2020 e un guadagno di 1,3 milioni di dollari per i nove mesi chiusi al 30 settembre 2020).
spese di licenziamento e integrazione. Per i tre mesi e i nove mesi chiusi al 30 settembre 2021, le spese di licenziamento sono state pari a 0,3 milioni di dollari (0,2 milioni di dollari e 0,6 milioni di dollari per i tre mesi e i nove mesi chiusi al 30 settembre 2020). Queste spese sono presentate nelle spese di vendita, generali e amministrative.
Queste spese rappresentano spese non monetarie riconosciute in relazione a stock option e altri premi emessi nell'ambito di piani basati su azioni.
Questa voce rappresenta principalmente le transazioni legali e i costi legali associati sostenuti al di fuori del normale corso degli affari, oltre a guadagni, perdite e accantonamenti non monetari e alcuni altri costi. Questi costi sono presentati nella voce "Altri" delle spese generali, amministrative e di vendita.
Questa voce riflette le spese per le imposte sul reddito sulle rettifiche imponibili utilizzando l'aliquota fiscale della giurisdizione applicabile.
L'utile netto rettificato è un parametro non IFRS che la Società utilizza per valutare ulteriormente le sue prestazioni operative.
L'utile netto rettificato per azione diluita è calcolato utilizzando i premi basati su azioni in circolazione alla fine di ogni periodo, su base completamente diluita se in quel momento erano in-the-money.

Dati del bilancio consolidato(in migliaia di dollari USA)
	30 settembre 2021	31 dicembre 2020
	$	$
Attività

Attività correnti
In contanti	288,734	180,722
Crediti commerciali e altri crediti	43,276	32,055
Inventario	419	80
Risconti attivi	6,920	4,727
Imposte sul reddito da ricevere	4,156	6,690
Quota corrente di anticipi a terzi	4,630	8,520
Parte corrente delle attività contrattuali	1,524	1,587

Totale attività correnti prima dei fondi separati	349,659	234,381
Fondi segregati	592,388	443,394
Totale attività correnti	942,047	677,775

Attività non correnti
Anticipi a terzi	21,040	38,478
Immobili e attrezzature	16,750	16,537
Attività immateriali	756,593	524,232
Avviamento	1,133,864	969,820
Attività fiscali differite	13,472	3,785
Attività contrattuali	1,063	1,300
Depositi del processore	5,562	13,898
Altre attività non correnti	3,017	1,944

Totale Attività	2,893,408	2,247,769
Passivo

Passività correnti
Debiti commerciali e altri debiti	98,492	64,779
Imposte sul reddito da pagare	22,319	7,558
Quota corrente di prestiti e mutui	8,485	2,527
Altre passività correnti	10,110	7,132

Totale passività correnti prima dei debiti verso i commercianti	139,406	81,996
A causa dei commercianti	592,388	443,394

Totale passività correnti	731,794	525,390

Passività non correnti
Prestiti e mutui	501,385	212,726
Passività fiscali differite	75,320	50,105
Altre passività non correnti	7,757	1,659

Totale passività	1,316,256	789,880



Equità

Patrimonio netto attribuibile agli azionisti
Capitale sociale	1,644,611	1,625,785
Eccedenza conferita	38,688	11,966
Deficit	(119,557)	(211,042)
Altri utili complessivi accumulati	2,359	22,470

	1,566,101	1,449,179
Non-controlling interest	11,051	8,710

Patrimonio netto totale	1,577,152	1,457,889

Totale passività e patrimonio netto	2,893,408	2,247,769

Consolidated Statements of Cash Flow Data(in thousands of U.S. dollars)
Per i nove mesi chiusi al 30 settembre	2021	2020
	$	$
Cash flow from operating activities
Utile (perdita) netto	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
Oneri finanziari netti	9,569	152,427
Perdita su cambi di valuta estera	1,973	17,889
Svalutazione per la cessione di una controllata	-	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)
Imposte sul reddito pagate	(14,291)	(10,579)
	201,885	48,969
Flusso di cassa da (utilizzato in) attività di investimento
Business acquisitions, net of cash acquired	(387,654)	-
Ricavi dalla vendita di una società controllata, al netto della liquidità	-	19,045
Decremento (aumento) di altre attività non correnti	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
Proventi da prestiti e mutui	300,000	-
Costi di transazione relativi a prestiti e mutui	(5,373)	(293)
Proventi da esercizio di stock option	6,499	-
Proventi derivanti dall'emissione di azioni con diritto di voto subordinato	-	758,597
Costi di transazione per l'emissione di azioni ordinarie	(74)	(38,561)
Rimborso di obbligazioni convertibili dagli azionisti	-	(93,384)
Rimborso di prestiti e mutui	-	(642,786)
Pagamento di debiti di leasing	(1,962)	(1,795)
Dividendo pagato da una società controllata a una partecipazione di minoranza	(880)	(600)
	298,210	(18,822)
Effetto delle variazioni dei tassi di cambio sulla liquidità	(4,582)	1,386
Net increase in cash	108,012	39,354
Cash – Beginning of period	180,722	60,072
Cash – End of period	288,734	99,426

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Evaluating payment strategies for the Mexican market: Direct acquiring versus cross-border models

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