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Unlock seamless financial transactions with Interac and Instant Bank Transfer. Enjoy rapid, secure payments anytime, anywhere.
Enjoy effortless and rapid transactions online or via phone, with instant payment options for quick fund movement. With robust security and customizable fraud prevention, our reliable solutions offer comprehensive, transparent reporting for your convenience.
Supercharge your business by easily integrating Interac into your payment system. Experience lightning-fast payments through direct account-to-account transfers.
Join forces with the robust interbank network of Canadian financial institutions, processing billions of transactions annually.
Discover Instant Bank Transfer (IBT), your ultimate solution for secure and seamless payment verification in Canada.
IBT streamlines deposit and withdrawal processes while ensuring top-notch identity verification. Trust in IBT's cutting-edge risk management technology to safeguard your transactions and provide a hassle-free experience.
Customers and businesses can make and receive payments instantly, in a matter of seconds.
Benefit from enhanced conversion rates, an improved user path offering a smooth, and mobile-centric customer journey.
Unlock seamless financial transactions with Faster Payments and Pay with Bank Transfer. Enjoy rapid, secure payments anytime, anywhere.
Enjoy effortless and rapid transactions online or via phone, with instant payment options for quick fund movement. With robust security and customizable fraud prevention, our reliable solutions offer comprehensive, transparent reporting for your convenience.
Experience instant money transfers, bypass card network limitations, and harness the power of trusted banking connections.
Save time and money with processing through the Faster Payments network while offering a reliable and affordable alternative to credit cards.
Enjoy secure, hassle-free payments directly from your bank account with Pay with Bank transfer, powered by American Express but accessible to all.
Customers and businesses can make and receive payments instantly, in a matter of seconds.
Benefit from enhanced conversion rates, an improved user path offering a smooth, and mobile-centric customer journey.
Unlock seamless financial transactions with SEPA and SEPA Instant Credit Transfer. Enjoy rapid, secure payments anytime, anywhere.
Enjoy effortless and rapid transactions online or via phone, with instant payment options for quick fund movement. With robust security and customizable fraud prevention, our reliable solutions offer comprehensive, transparent reporting for your convenience.
SEPA (Single Euro Payments Area) transforms E.U. cashless transactions, offering rapid euro transfers, 24/7, and near-instant processing for all participants.
With a single integration, supercharge your operations, fulfill orders faster, and boost cash flow with lightning-fast, real-time payments. Providing customers with unparalleled convenience, no matter where they are.
Customers and businesses can make and receive payments in a matter of seconds using their trusted bank relationships.
Enhanced conversion rates, an improved user path offering a smooth, mobile-centric customer journey. Decreased payment processing expenses by eliminating charges associated with card networks.
Protect your customers' data and prevent fraud. Say goodbye to chargebacks with our guaranteed solution.
Discover Nuvei's U.S. Bank Transfer services for seamless, rapid, and secure payments. Leverage ACH, RTP, and FedNow networks for flexible money transfers.
Enjoy effortless transactions, instant payment options, and transparent reporting. Protect your business with our Assured Funds guarantee.
Empower your customers with a cost-effective, convenient payment solution. Debit funds directly from bank accounts for single or repeat transactions.
Save time and money with processing via Automated Clearing House (ACH), Real-time Payments (RTP®), and FedNow.
Mitigate payment risks effectively with Nuvei's Assured Funds, an insurance solution designed to protect businesses from potential losses caused by unauthorized, returned payments.
Ensures protection against unpaid transactions and fraud. We assume the risk and handle collections, letting you focus on business.
Guarantees funds on all returns, including unauthorized returns. Rapid merchant funding accelerates settlement and payment.
Prevent fraud and reduce returns with smart approval logic. We offer three validation levels for your unique business needs.
Enhanced security, real-time validation, and commercially reasonable bank account validation.
Powerful add-on that offers a deeper level of validation and greater fraud prevention.
Reduces administrative and NSF returns by providing the latest status of customer bank accounts.
Check 21+ is a cutting-edge payment solution that allows merchants to process paper checks electronically.
With this innovative technology, merchants can say goodbye to time-consuming trips to the bank and hello to faster, safer processing.
Discover Nuvei's seamless issuing payment solutions, including customizable physical and virtual cards, unified acquiring and issuing, and data-driven insights.
Just like a finely tuned race car, every marginal improvement in your payment processes can lead to big growth. Maximize your approval rates and revenue with Nuvei's issuing solution.
Elevate your brand with Nuvei’s customizable physical cards.
Put your brand in your customers’ wallets and give them ability to pay with your card for their day-to-day expenses.
Streamline vendor, consumer, and business payments with versatile virtual cards that cut costs and accelerate transactions.
Unify card issuing, acquiring, and settlement accounts on one seamless platform.
Maximize your revenue and make informed business decisions with Nuvei's data-driven insights.
Nuvei’s powerful reporting technology allows you to see holistic payments data and detailed transaction information—all on a single platform.
Propel your business to the front of the pack with Nuvei's custom tailored payments.
Our issuing solution enables you to benefit from simpler, faster customer payouts, innovative accounts payable features, and streamlined B2B travel.
Connect and customize with ease through Nuvei’s flexible API suite.
Get instant and insightful control over reporting, security, and global 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.
Enjoy quick, effortless transactions online or by phone, backed by our customizable fraud prevention and assured funds guarantee. Benefit from clear, detailed reporting for complete transparency.
Why wait? Experience lightning-fast fund transfers with our instant payment solutions. Streamline your financial operations with ease and speed and delight your customers.
Harness the power of instant, real-time payments with our global network of providers. Our expansive reach offers unparalleled bank and country coverage, keeping you at the forefront of the financial world.
Boost your revenue and provide exceptional convenience to customers worldwide, facilitating growth at the speed of now.
Embrace a world where intricate transaction processes are replaced by a streamlined, intuitive experience.
This shift promises not only higher conversion rates but also reduced processing costs, and a fortified security environment.
Experience cost-efficient, reliable, and fast bank transfers with Nuvei. Streamline your payment processing, elevate customer satisfaction, and boost conversion rates globally.
Meet the fast-paced needs of your organization with our rapid and instant payment options that pave the way for growth. Our Open Banking Technology and vast global partnerships offer a competitive edge. Every major market and network, all through a single integration.
Our bank transfer solutions give your customers the advantage of paying with their banking information, all within your regular checkout experience.
Say goodbye to confusing transaction flows and hello to higher conversion rates, lower processing costs, and enhanced security.
Our bank transfer solutions are designed with your customers' preferences in mind, offering them a broader range of payment options that cater to their diverse needs.
This not only simplifies transactions but also broadens your appeal to a wider audience, including those who prefer not to use credit cards or seek alternatives to traditional payment methods.
Step into a realm of unparalleled security with our zero chargeback solutions, designed to safeguard your business against fraud while securing your customers' sensitive data.
Our guaranteed solution assures that once a payment is made, it cannot be reversed by the payer. Unlike credit card payments which can be disputed by the cardholder, we make chargebacks a thing of the past.
Offer your customers a seamless payment experience while enjoying the benefits of lower processing fees compared to traditional credit card transactions.
This cost-effective solution not only makes payments more affordable but also enhances operational efficiency, allowing you to invest more in growing your business.
Get unmatched country and bank coverage with our extensive network of global providers. Stay ahead of the curve and expand your revenue streams. Delight your customers with unparalleled convenience no matter where they are.
Automated Clearing House (ACH), Real-time Payments (RTP®), FedNow
SEPA, SEPA Instant
Faster Payments, Pay with Bank Transfer
Interac®
Streamline your financial processes with Nuvei's Reconciliation Management. Automate and manage payment reconciliation effortlessly for improved accuracy and efficiency.
With a streamlined process, everything is faster, more accurate and less expensive to manage.
Automatically match and reconcile your payments across multiple service providers and data sources. We can connect, integrate and monitor any new method.
With a streamlined process, everything is faster, more accurate and less expensive to manage.
Nuvei Reconciliation Manager+ takes care of the entire process all the way from implementation to updates, and reporting.
Save more time, reduce customer support tickets, spot technical issues and save more money.
Master your payment operations with Nuvei's Payment Orchestration. Streamline and manage complex payment flows with our comprehensive tools for maximum control and insight.
Control and manage the entire payment process for optimal performance, sales and revenue.
Optimize and control your payment experience through the Control Panel of the Payment Orchestration hub.
Manage settings that can boost acceptance rates, increase security and reduce declines or capture more revenue.
Boost your transaction approval and authorization rates by managing online exemption submissions.
More detailed data points mean more authorizations, better security, and a personalized, seamless experience for your customers.
Convert more payments by avoiding declined transactions. From one dashboard, you can set and manage data-driven rules.
Advanced analytics power innovative transaction routing.
Nuvei chargeback management tools can prevent and eliminate potential chargebacks before they happen - and mitigate the damage of those that do.
Keep on top of business performance with a crystal-clear view of your payments data across all channels.
Sometimes all you need is a nudge in the right direction. Business Coach is there to highlight when you could be achieving higher sales or customer engagement.
Business Coach offers actionable tips and key business metrics to help grow your business.
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.
Offering an unmatched range of services, we empower hundreds of partners to enable millions of people to buy billions of dollars in digital assets. We are the leading payment partner of over 450 leading exchanges, wallets, brokers, coins, NFT platforms and blockchain games.
Nuvei's fiat on-ramp and off-ramp provides a smooth experience for converting between fiat and cryptocurrencies. Accessible to both those with no blockchain experience and on-chain gaming experts through a single API.
Join hundreds of global businesses and discover the power of fiat-crypto conversion on demand delivered by fully licensed, publicly listed provider.
Stablecoins are becoming a true alternative form of payment to offer to merchants on top of more traditional payment methods.
We enable real-time stablecoin transactions, easy conversion between fiat and stablecoins, and comprehensive settlement services tailored to meet your needs.
One partnership for all your crypto business needs. Enable your blockchain assets for seamless onramps with 100+ fiat currencies, globally.
Accelerate transactions and enhance data accuracy, plus boost customer loyalty through our innovative crypto payment options. Experience the confidence of partnering with a provider that goes beyond fraud prevention to offer full-scale payment processing support.
Cryptocurrency payments broaden market access and lower costs by eliminating intermediaries, offering global reach with minimal transaction fees.
Crypto is transforming gaming, offering significant advantages. Larger transaction limits, quicker payouts, and enhanced security minimize the need to share banking information.
With lower fees and global fund access, cryptocurrencies offer convenience and signals innovation. Additionally, players can receive bonuses as incentives for using crypto, enriching their gaming experience.
Nuvei leads the move to Web 3.0, making your blockchain and Metaverse projects successful. With top partnerships and tools, we help you stand out.
Our approach gives users full control over their digital assets and privacy, boosting confidence in digital exploration.
Elevate the buying experience with Nuvei's embedded financial services. Discover seamless integration today and transform your revenue streams.
Keep customers within your ecosystem by adding financial services into your payment mix. Offer bank deposits and payouts, as well as cards and financing. Make it easier for customers to buy more, more often.
Expand your global reach and optimize transactions with Nuvei Business Accounts. Deliver real-time funds access, lower fees, and seamless integration to enhance efficiency and financial control.
Streamline your financial operations with Nuvei as your single partner for acquiring, issuing, and banking services.
Elevate your brand and streamline payments with Nuvei’s customizable physical and virtual cards, offering seamless and secure transactions across all channels.
We take care of all the back-office complications including card scheme approval, global regulatory compliance, technical setup and card manufacturing.
Your business moves fast. Make sure your financing can, too.
Access funds quickly to achieve your goals and seize more opportunities. No banks or red tape involved.
Grow your business with industry-leading buy now, pay later options. Get paid upfront while offering customers flexible payment terms.
Make it easier for your customers to get what they need right now. Best of all, it's integrated seamlessly into the checkout experience.
Mitigate chargeback risks with Nuvei's effective resolution services. Streamline dispute processes, reduce fraudulent claims, and protect your revenue with our advanced tools.
Prevent the majority of would-be chargebacks before they materialize. Transactions are protected with pre-chargeback mitigation, smart fraud-screening, alerts and communications.
Reduce the costs of disputes and chargebacks with Nuvei Chargeback Resolve. Every chargeback actioned is centralized and managed through Nuvei’s Control Panel. The whole process maximizes transparency and efficiency.
Control disputes or chargebacks quickly and easily with integrated solutions from Visa and Mastercard.
Facilitate global commerce with Nuvei's Currency Management. Simplify FX transactions, enhance payment flexibility, and offer customers native currency options for improved satisfaction.
Whether your customers want to do business with you online or in-store, we make it easier to do business with and encourage return visits.
According to Insider Intelligence’s Global eCommerce report, 92% of customers prefer to buy from sites that price items in their local currency.
Make buying simple and frictionless for customers while receiving settlement and reporting in your domestic currency.
By offering customers pricing in their domestic currency, you can make card purchasing transparent and trustworthy while earning a percentage commission.
Protect your business with Nuvei's Fraud & Risk Management solutions. Minimize threats and secure data while maintaining a smooth customer experience.
From advanced fraud detection to industrial grade tokenization and KYC, Nuvei protects you and your customers.
Transaction data is our greatest weapon in the fight against fraud. Crush false positives with a powerful set of customizable tools without compromising customer experience.
Replacing sensitive data with a secure token means faster and more secure payments that can help create a better customer experience.
Through a combination of our agnostic and network tokenization features, we offer one of the most flexible and complete solutions in the market.
We recognize the need for the highest security available to protect you and your customers. In compliance with PCI Data Security Standards, we have met and surpassed all requirements set forth as a Level 1 Service Provider.
Our technology and expert staff can help you reduce risk, chargebacks and simplify PCI DSS compliance.
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.
Nuvei Optimize is your always‑on optimization engine. It quietly improves your conversions, reduces declines and recovers revenue at every stage of the transaction journey. Activate only the modules that match your strategy—so you’re always getting smarter, more efficient payments.
By optimizing your authentication strategy up front, you can balance security with speed, especially in markets with evolving regulations. Smarter authentication means your customers sail through checkout while you keep regulators and issuers happy.
Get the most out of every payment with intelligent routing that matches transactions to the best‑performing bank, network or local scheme. It’s orchestration that does the hard work for you, so you see more approvals without lifting a finger.
This is where approvals happen—or don’t. You maximize success by making transactions cleaner, more complete and easier for issuers to approve. When every detail counts, you’ll benefit from precision and smart enrichment.
Not every payment goes through the first time. With Nuvei Optimize, failed transactions don’t mean failed revenue. Retry tools quietly re‑attempt declined payments, switch banks or offer a fallback method—all without disrupting your customer’s experience.
Stay in control of your performance with the data, tools and expert support needed to keep things moving forward—even as the payment landscape evolves. Real‑time insights and hands‑on guidance help you make data-driven decisions, quickly.
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.
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.
Investor Relations
Public Relations
PR@nuvei.com
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
Investor Relations
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”).
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%
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.
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.
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.
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.
Investors
Anthony Gerstein
Vice President, Head of Investor Relations
agerstein@nuvei.com
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:
Financial Highlights for the Nine Months Ended September 30, 2024 Compared to 2023:
(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.
In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events or circumstances.
Forward-looking information is based on management's beliefs and assumptions and on information currently available to management, regarding, among other things, assumptions regarding foreign exchange rate, competition, political environment and economic performance of each region where the Company operates and general economic conditions and the competitive environment within our industry, including the following assumptions: (a) the Company will continue to effectively execute against its key strategic growth priorities, without any material adverse impact from macroeconomic or geopolitical headwinds on its or its customers' business, financial condition, financial performance, liquidity or any significant reduction in demand for its products and services, (b) the economic conditions in our core markets, geographies and verticals, including resulting consumer spending and employment, remaining at close to current levels, (c) assumptions as to foreign exchange rates and interest rates, including inflation, (d) the Company's continued ability to manage its growth effectively, (e) the Company's ability to continue to attract and retain key talent and personnel required to achieve its plans and strategies, including sales, marketing, support and product and technology operations, in each case both domestically and internationally, (f) the Company’s ability to successfully identify, complete, integrate and realize the expected benefits of past and recent acquisitions and manage the associated risks, as well as future acquisitions, (g) the absence of adverse changes in legislative or regulatory matters, (h) the Company’s continued ability to upskill and modify its compliance capabilities as regulations change or as the Company enters new markets or offers new products or services, (i) the Company’s continued ability to access liquidity and capital resources, including its ability to secure debt or equity financing on satisfactory terms, and (j) the absence of adverse changes in current tax laws. Unless otherwise indicated, forward-looking information does not give effect to the potential impact of any mergers, acquisitions, divestitures or business combinations that may be announced or closed after the date hereof. Although the forward-looking information contained herein is based upon what we believe are reasonable assumptions, investors are cautioned against placing undue reliance on this information since actual results may vary from the forward-looking information.
Forward-looking information involves known and unknown risks and uncertainties, many of which are beyond our control, that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, the risk factors described in greater detail under “Risk Factors” of the Company's annual information form ("AIF") and the “Risk Factor’s” in the Company’s management’s discussion and analysis of financial condition and results of operations for the three and nine months ended September 30, 2024 (“MD&A”), such as: risks relating to our business, industry and overall economic uncertainty; the rapid developments and change in our industry; substantial competition both within our industry and from other payments providers; challenges implementing our growth strategy; challenges to expand our product portfolio and market reach; changes in foreign currency exchange rates, interest rates, consumer spending and other macroeconomic factors affecting our customers and our results of operations; challenges in expanding into new geographic regions internationally and continuing our growth within our markets; challenges in retaining existing customers, increasing sales to existing customers and attracting new customers; reliance on third-party partners to distribute some of our products and services; risks associated with future acquisitions, partnerships or joint-ventures; challenges related to economic and political conditions, business cycles and credit risks of our customers, such as wars like the Russia-Ukraine and Middle East conflicts and related economic sanctions; the occurrence of a natural disaster, a widespread health epidemic or pandemic or other similar events; history of net losses and additional significant investments in our business; our level of indebtedness; challenges to secure financing on favorable terms or at all; difficulty to maintain the same rate of revenue growth as our business matures and to evaluate our future prospects; inflation; challenges related to a significant number of our customers being small and medium businesses ("SMBs"); a certain degree of concentration in our customer base and customer sectors; compliance with the requirements of payment networks; reliance on, and compliance with, the requirements of acquiring banks and payment networks; challenges related to the reimbursement of chargebacks from our customers; financial liability related to the inability of our customers (merchants) to fulfill their requirements; our bank accounts being located in multiple territories and relying on banking partners to maintain those accounts; decline in the use of electronic payment methods; loss of key personnel or difficulties hiring qualified personnel; deterioration in relationships with our employees; impairment of a significant portion of intangible assets and goodwill; increasing fees from payment networks; misappropriation of end-user transaction funds by our employees; frauds by customers, their customers or others; coverage of our insurance policies; the degree of effectiveness of our risk management policies and procedures in mitigating our risk exposure; the integration of a variety of operating systems, software, hardware, web browsers and networks in our services; the costs and effects of pending and future litigation; various claims such as wrongful hiring of an employee from a competitor, wrongful use of confidential information of third parties by our employees, consultants or independent contractors or wrongful use of trade secrets by our employees of their former employers; deterioration in the quality of the products and services offered; managing our growth effectively; challenges from seasonal fluctuations on our operating results; changes in accounting standards; estimates and assumptions in the application of accounting policies; risks associated with less than full control rights of some of our subsidiaries and investments; challenges related to our holding company structure; impacts of climate change; development of AI and its integration in our operations, as well as risks relating to intellectual property and technology, risks related to data security incidents, including cyber-attacks, computer viruses, or otherwise which may result in a disruption of services or liability exposure; challenges regarding regulatory compliance in the jurisdictions in which we operate, due to complex, conflicting and evolving local laws and regulations and legal proceedings and risks relating to our Subordinate Voting Shares. [These risks and uncertainties further include (but are not limited to) as concerns the Proposed transaction with Advent, the failure of the parties to obtain the necessary regulatory approvals or to otherwise satisfy the conditions to the completion of the transaction, failure of the parties to obtain such approvals or satisfy such conditions in a timely manner, significant transaction costs or unknown liabilities, failure to realize the expected benefits of the transaction, and general economic conditions. Failure to obtain the necessary regulatory approvals, or the failure of the parties to otherwise satisfy the conditions to the completion of the transaction or to complete the transaction, may result in the transaction not being completed on the proposed terms, or at all.] In addition, if the transaction is not completed, and the Company continues as a publicly-traded entity, there are risks that the announcement of the Proposed transaction and the dedication of substantial resources of the Company to the completion of the transaction could have an impact on its business and strategic relationships (including with future and prospective employees, customers, suppliers and partners), operating results and activities in general, and could have a material adverse effect on its current and future operations, financial condition and prospects. Furthermore, in certain circumstances, the Company may be required to pay a termination fee pursuant to the terms of the arrangement agreement which could have a material adverse effect on its financial position and results of operations and its ability to fund growth prospects and current operations.
Our dividend policy is at the discretion of the Board. Any future determination to declare cash dividends on our securities will be made at the discretion of our Board, subject to applicable Canadian laws, and will depend on a number of factors, including our financial condition, results of operations, capital requirements, contractual restrictions (including covenants contained in our credit facilities), general business conditions and other factors that our Board may deem relevant. Further, our ability to pay dividends, as well as make share repurchases, will be subject to applicable laws and contractual restrictions contained in the instruments governing our indebtedness, including our credit facility. Any of the foregoing may have the result of restricting future dividends or share repurchases.
Consequently, all of the forward-looking information contained herein is qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained herein represents our expectations as of the date hereof or as of the date it is otherwise stated to be made, as applicable, and is subject to change after such date. However, we disclaim any intention or obligation or undertaking to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.
Contact:
Investors
Chris Mammone, Head of Investor Relations





(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:
(i) professional, legal, consulting, accounting and other fees and expenses related to our acquisition and financing activities, including the expenses related to the Proposed transaction. For the three months and nine months ended September 30, 2024, these expenses were $2.4 million and $16.8 million ($3.4 million and $23.0 million for the three months and nine months ended September 30, 2023). These costs are presented in the professional fees line item of selling, general and administrative expenses.
(ii) acquisition-related compensation was $0.7 million and $2.4 million for the three months and nine months ended September 30, 2024 and $0.6 million and $3.5 million for the three months and nine months ended September 30, 2023. These costs are presented in the employee compensation line item of selling, general and administrative expenses.
(iii) change in deferred purchase consideration for previously acquired businesses. No amount was recognized for the three months and nine months ended September 30, 2024 and 2023. These amounts are presented in the contingent consideration adjustment line item of selling, general and administrative expenses.
(iv) severance and integration expenses, which were $4.6 million and $5.1 million for the three months and nine months ended September 30, 2024 ($1.1 million and $10.6 million for the three months and nine months ended September 30, 2023). These expenses are presented in selling, general and administrative expenses and cost of revenue.
(c) These expenses are recognized in connection with stock options and other awards issued under share-based plans as well as related payroll taxes that are directly attributable to share-based payments. For the three months and nine months ended September 30, 2024, the expenses consisted of non-cash share-based payments of $14.9 million and $65.3 million ($34.0 million and $105.5 million for the three months and nine months ended September 30, 2023), $0.5 million and $4.9 million for related payroll taxes ($0.1 million and $0.9 million for the three months and nine months ended September 30, 2023).
(d) This primarily represents legal settlements and associated legal costs, as well as non-cash gains, losses and provisions and certain other costs. These costs are presented in selling, general and administrative expenses. For the nine months ended September 30, 2024, the gain consisted mainly of a gain on business combination of $4.0 million.
(e) This line item reflects income tax expense on taxable adjustments using the tax rate of the applicable jurisdiction.
(f) The number of share-based awards used in the diluted weighted average number of common shares outstanding in the Adjusted net income per diluted share calculation is determined using the treasury stock method as permitted under IFRS.

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.”
(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”.
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 |
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.
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.
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
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.
Revenue at constant currency: Revenue at constant currency means revenue adjusted for the impact of foreign currency exchange fluctuations. This measure helps provide insight on comparable revenue growth by removing the effect of changes in foreign currency exchange rates year-over-year. Foreign currency exchange impact in the current period is calculated using prior period quarterly average exchange rates applied to the current period foreign currency amounts.
Organic revenue at constant currency: Organic revenue at constant currency means revenue excluding the revenue attributable to acquired businesses for a period of 12 months following their acquisition and excluding revenue attributable to divested businesses, adjusted for the impact of foreign currency exchange fluctuations. Foreign currency exchange impact in the current period is calculated using prior period quarterly average exchange rates applied to the current period foreign currency amounts. This measure helps provide insight on organic and acquisition-related growth and presents useful information about comparable revenue growth.
Adjusted EBITDA: We use Adjusted EBITDA as a means to evaluate operating performance, by eliminating the impact of non-operational or non-cash items. Adjusted EBITDA is defined as net income (loss) before finance costs (recovery), finance income, depreciation and amortization, income tax expense, acquisition, integration and severance costs, share-based payments and related payroll taxes, loss (gain) on foreign currency exchange, and legal settlement and other.
Adjusted net income: We use Adjusted net income as an indicator of business performance and profitability with our current tax and capital structure. Adjusted net income is defined as net income (loss) before acquisition, integration and severance costs, share-based payments and related payroll taxes, loss (gain) on foreign currency exchange, amortization of acquisition-related intangible assets, and the related income tax expense or recovery for these items. Adjusted net income also excludes change in redemption value of liability-classified common and preferred shares, change in fair value of share repurchase liability and accelerated amortization of deferred transaction costs and legal settlement and other.
Adjusted EBITDA less capital expenditures: We use Adjusted EBITDA less capital expenditures (acquisition of intangible assets and property and equipment) as a supplementary indicator of our operating performance. In the third quarter of 2022, we retrospectively modified the label of this measure from “Free cash flow” in order to clearly reflect its composition.
Non-IFRS Financial Ratios
Revenue growth at constant currency: Revenue growth at constant currency means the year-over-year change in Revenue at constant currency divided by reported revenue in the prior period. We use Revenue growth at constant currency to provide better comparability of revenue trends year-over-year, without the impact of fluctuations in foreign currency exchange rates.
Organic revenue growth at constant currency: Organic revenue growth at constant currency means the year-over-year change in Organic revenue at constant currency divided by comparable Organic revenue in the prior period. We use Organic revenue growth at constant currency to provide better comparability of revenue trends year-over-year, without the impact of acquisitions, divestitures and fluctuations in foreign currency exchanges rates.
Adjusted EBITDA margin: Adjusted EBITDA margin means Adjusted EBITDA divided by revenue.
Adjusted net income per basic share and per diluted share: We use Adjusted net income per basic share and per diluted share as an indicator of performance and profitability of our business on a per share basis. Adjusted net income per basic share and per diluted share means Adjusted net income less net income attributable to non-controlling interest divided by the basic and diluted weighted average number of common shares outstanding for the period. The number of share-based awards used in the diluted weighted average number of common shares outstanding in the Adjusted net income per diluted share calculation is determined using the treasury stock method as permitted under IFRS.
We monitor the following key performance indicators to help us evaluate our business, measure our performance, identify trends affecting our business, formulate business plans and make strategic decisions. Our key performance indicators may be calculated in a manner that differs from similar key performance indicators used by other companies.
Adjusted net income: We use Adjusted net income as an indicator of business performance and profitability with our current tax and capital structure. Adjusted net income is defined as net income (loss) before acquisition, integration and severance costs, share-based payments and related payroll taxes, loss (gain) on foreign currency exchange, amortization of acquisition-related intangible assets, and the related income tax expense or recovery for these items. Adjusted net income also excludes change in redemption value of liability-classified common and preferred shares, change in fair value of share repurchase liability and accelerated amortization of deferred transaction costs and legal settlement and other.
Adjusted EBITDA less capital expenditures: We use Adjusted EBITDA less capital expenditures (acquisition of intangible assets and property and equipment) as a supplementary indicator of our operating performance. In the third quarter of 2022, we retrospectively modified the label of this measure from “Free cash flow” in order to clearly reflect its composition.
Non-IFRS Financial Ratios
Revenue growth at constant currency: Revenue growth at constant currency means the year-over-year change in Revenue at constant currency divided by reported revenue in the prior period. We use Revenue growth at constant currency to provide better comparability of revenue trends year-over-year, without the impact of fluctuations in foreign currency exchange rates.
Organic revenue growth at constant currency: Organic revenue growth at constant currency means the year-over-year change in Organic revenue at constant currency divided by comparable Organic revenue in the prior period. We use Organic revenue growth at constant currency to provide better comparability of revenue trends year-over-year, without the impact of acquisitions, divestitures and fluctuations in foreign currency exchanges rates.
Adjusted EBITDA margin: Adjusted EBITDA margin means Adjusted EBITDA divided by revenue.
Adjusted net income per basic share and per diluted share: We use Adjusted net income per basic share and per diluted share as an indicator of performance and profitability of our business on a per share basis. Adjusted net income per basic share and per diluted share means Adjusted net income less net income attributable to non-controlling interest divided by the basic and diluted weighted average number of common shares outstanding for the period. The number of share-based awards used in the diluted weighted average number of common shares outstanding in the Adjusted net income per diluted share calculation is determined using the treasury stock method as permitted under IFRS.
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.
This press release contains “forward-looking information” within the meaning of applicable securities laws, including Nuvei’s outlook on Total volume, Revenue, Revenue at constant currency and Adjusted EBITDA for the three months ending December 31, 2022 and the year ending December 31, 2022 as well as medium and long-term targets on Total volume, Revenue and Adjusted EBITDA margin. Forward-looking information is identified by the use of terms and phrases such as “may”, “would”, “should”, “could”, “expect”, “intend”, “estimate”, “anticipate”, “plan”, “foresee”, “believe”, or “continue”, the negative of these terms and similar terminology, including references to assumptions, although not all forward-looking information contains these terms and phrases. Particularly, information regarding our expectations of future results, performance, achievements, prospects or opportunities or the markets in which we operate, expectations regarding industry trends and the size and growth rates of addressable markets, our business plans and growth strategies, addressable market opportunity for our solutions, expectations regarding growth and cross-selling opportunities and intention to capture an increasing share of addressable markets, the costs and success of our sales and marketing efforts, intentions to expand existing relationships, further penetrate verticals, enter new geographical markets, expand into and further increase penetration of international markets, intentions to selectively pursue and successfully integrate acquisitions, and expected acquisition outcomes and benefits, future investments in our business and anticipated capital expenditures, our intention to continuously innovate, differentiate and enhance our platform and solutions, expected pace of ongoing legislation of regulated activities and industries, our competitive strengths and competitive position in our industry, expectations regarding our revenue, revenue mix and the revenue generation potential of our solutions, expectations regarding our margins and future profitability, our financial outlook and guidance as well as medium and long-term targets in various financial metrics, and the future impact of the COVID-19 pandemic is forward-looking information. The Russia and Ukraine conflict, including potential impacts of sanctions, may also heighten the impact of certain factors described herein.
In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events or circumstances. Forward-looking information is based on management’s beliefs and assumptions and on information currently available to management, regarding, among other things, general economic conditions and the competitive environment within our industry. See also “Financial Outlook and Growth Targets Assumptions”.
Unless otherwise indicated, forward-looking information does not give effect to the potential impact of any mergers, acquisitions, divestitures or business combinations that may be announced or closed after the date hereof. Although the forward-looking information contained herein is based upon what we believe are reasonable assumptions, investors are cautioned against placing undue reliance on this information since actual results may vary from the forward-looking information. Nuvei’s financial outlook also constitutes financial outlook within meaning of applicable securities laws and is provided for the purposes of assisting the reader in understanding management’s expectations regarding our financial performance and the reader is cautioned that it may not be appropriate for other purposes. Our medium and long-term growth targets serve as guideposts as we execute on our strategic priorities in the medium to long term and are provided for the purposes of assisting the reader in measuring progress toward management’s objectives, and the reader is cautioned that they may not be appropriate for other purposes.
Forward-looking information involves known and unknown risks and uncertainties, many of which are beyond our control, that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, the risk factors described in greater detail under “Risk Factors” of the Company’s annual information form filed on March 8, 2022 (the “AIF”). In particular, our financial outlook and medium and long-term targets are subject to risks and uncertainties related to:
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.
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:
Investors
Anthony Gerstein
Vice President, Head of Investor Relations
anthony.gerstein@nuvei.com
(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 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) | — |
| 发行股票的交易成本 | (903) | (74) |
| 行使股票期权的收益 | 1,474 | 6,499 |
| 偿还贷款和借款 | (3,840) | — |
| 贷款和借款所得 | - | 300,000 |
| 与贷款和借款有关的交易成本 | — | (5,373) |
| 支付租赁负债 | (2,674) | (1,962) |
| 购买非控股权益 | (39,751) | — |
| 子公司向非控股权益支付的股息 | (260) | (880) |
| (155,112) | 298,210 | |
| 汇率变动对现金的影响 | 223 | (4,582) |
| 现金及现金等价物净增加额 | 5,036 | 108,012 |
| 现金及现金等价物——期初余额 | 748,576 | 180,722 |
| 现金及现金等价物——期末 | 753,612 | 288,734 |
(单位:千美元)
| 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) |
| 折旧和摊销 | 26,269 | 23,152 | 79,758 | 64,890 |
| Income tax expense | 5,393 | 6,202 | 19,836 | 17,381 |
| 收购、整合和遣散费用(a) | 11,324 | 7,218 | 21,490 | 17,058 |
| 股份支付和相关工资税(b) | 33,819 | 11,187 | 103,763 | 20,245 |
| Loss (gain) on foreign currency exchange | (12,528) | 727 | (20,415) | 1,973 |
| 法律和解及其他(c) | 190 | (138) | 1,397 | (42) |
| 调整后的 EBITDA | 81,201 | 80,943 | 265,632 | 225,780 |
| 购置财产和设备以及无形资产 | (12,724) | (6,402) | (33,811) | (17,527) |
| 调整后 EBITDA 减资本支出 | 68,477 | 74,541 | 231,821 | 208,253 |
(单位:千美元,股份和每股金额除外)
| Three months endedSeptember 30 | Nine months endedSeptember 30 | |||
| 2022 | 2021 | 2022 | 2021 | |
| $ | $ | $ | $ | |
| Net income | 13,006 | 28,002 | 52,603 | 94,706 |
| 股票回购负债公允价值的变化 | - | - | (5,710) | - |
| 与收购相关的无形资产摊销(a) | 22,427 | 20,042 | 68,904 | 56,151 |
| 收购、整合和遣散费用(b) | 11,324 | 7,218 | 21,490 | 17,058 |
| 股份支付和相关工资税(c) | 33,819 | 11,187 | 103,763 | 20,245 |
| Loss (gain) on foreign currency exchange | (12,528) | 727 | (20,415) | 1,973 |
| 法律和解及其他(d) | 190 | (138) | 1,397 | (42) |
| 调整 | 55,232 | 39,036 | 169,429 | 95,385 |
| 与调整有关的所得税费用(e) | (5,803) | (4,697) | (15,882) | (12,083) |
| 调整后净收入 | 62,435 | 62,341 | 206,150 | 178,008 |
| 归属于非控股权益的净收入 | (1,296) | (1,161) | (3,911) | (3,221) |
| 调整后归属于公司普通股股东的净利润 | 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 |
| 调整后归属于公司普通股股东的每股净收益(f) | ||||
| Basic | 0.43 | 0.44 | 1.43 | 1.26 |
| Diluted | 0.43 | 0.42 | 1.39 | 1.22 |
下表汇总了我们根据商户开票地点按地区划分的收入情况:
| Three months endedSeptember 30 | 改变 | Nine months endedSeptember 30 | 改变 | ||||||||
| (单位:千美元,百分比除外) | 2022 | 2021 | 2022 | 2021 | |||||||
| $ | $ | $ | % | $ | $ | $ | % | ||||
| Revenue | |||||||||||
| 欧洲、中东和非洲 | 105,520 | 101,335 | 4,185 | 4 % | 350,039 | 266,902 | 83,137 | 31 % | |||
| 北美 | 83,087 | 76,020 | 7,067 | 9 % | 247,170 | 225,028 | 22,142 | 10 % | |||
| 拉丁美洲 | 7,588 | 5,929 | 1,659 | 28 % | 20,924 | 16,437 | 4,487 | 27 % | |||
| 亚太地区 | 951 | 648 | 303 | 47 % | 4,851 | 4,284 | 567 | 13 % | |||
| 197,146 | 183,932 | 13,214 | 7 % | 622,984 | 512,651 | 110,333 | 22 % | ||||
下表对所示期间的收入与按固定汇率计算的收入以及按固定汇率计算的收入增长进行了核对:
| (单位:千美元,百分比除外) | 截至2022年9月30日 | 截至2021年9月30日 | |||||
| 报告的收入 | 外币兑换对收入的影响 | 按固定汇率计算的收入 | 报告的收入 | 收入增长 | 按固定汇率计算的收入增长 | ||
| $ | $ | $ | $ | ||||
| Revenue | 197,146 | 11,490 | 208,636 | 183,932 | 7 % | 13 % | |
下表将所示期间的收入与按固定汇率计算的有机收入以及按固定汇率计算的有机收入增长进行了核对:
| (单位:千美元,百分比除外) | 截至2022年9月30日 | 截至2021年9月30日 | |||||||||
| 报告的收入 | 收购收入 (a) | 资产剥离收入 | 外汇兑换对有机收入的影响 | 按固定汇率计算的有机收入 | 报告的收入 | 资产剥离收入 | 可比有机收入 | 收入增长 | 按固定汇率计算的有机收入增长 | ||
| $ | $ | $ | $ | $ | $ | $ | |||||
| Revenue | 197,146 | (7,345) | - | 10,999 | 200,800 | 183,932 | - | 183,932 | 7 % | 9 % | |
| (单位:千美元,百分比除外) | 截至2022年9月30日 | 截至2021年9月30日 | |||||||||
| 报告的收入 | 收购收入 (a) | 资产剥离收入 | 外汇兑换对有机收入的影响 | 按固定汇率计算的有机收入 | 报告的收入 | 资产剥离收入 | 可比有机收入 | 收入增长 | 按固定汇率计算的有机收入增长 | ||
| $ | $ | $ | $ | $ | $ | $ | |||||
| Revenue | 622,984 | (37,608) | - | 26,712 | 612,088 | 512,651 | - | 512,651 | 22 % | 19 % | |
(a) 我们于 2021 年 8 月 3 日收购了 Mazooma Technical Services Inc.(Simplex")和 Paymentez LLC("Paymentez")。
纽威公司(Nuvei Corporation)(纳斯达克股票代码:NVEI)(多伦多证券交易所股票代码:NVEI)今天公布了截至 2021 年 9 月 30 日的第三季度财务报告。
Nuvei reports in U.S. dollars and in accordance with International Financial Reporting Standards (“IFRS”)
2021 年 11 月 9 日,蒙特利尔 -Nuvei Corporation(以下简称 "Nuvei "或 "公司")(纳斯达克股票代码:NVEI)(多伦多证券交易所股票代码:NVEI)是全球知名品牌的支付技术合作伙伴,今天公布了截至 2021 年 9 月 30 日的第三季度财务报告。
"努维公司董事长兼首席执行官菲利普-法耶(Philip Fayer)表示:"我们在第三季度实现了一系列重大的里程碑,包括财务业绩超过了之前的预期,发布了新的创新产品解决方案,扩大了替代支付方式(APM)的产品组合,宣布赢得了几家令人兴奋的新客户,并完成了三项收购,从而加强和扩大了我们的可覆盖市场、产品能力和地理覆盖范围。"第三季度还标志着我们在多伦多证券交易所上市一周年,随后我们于 10 月初在美国纳斯达克成功进行了首次公开募股。我要感谢 Nuvei 整个团队的不懈努力,是他们让这一切成为可能。纵观我们的业务,我们的业绩得益于我们坚持不懈地帮助客户通过我们的单一集成平台与他们的客户建立进一步的联系,无论客户来自哪个国家、使用哪种货币或支付类型。我们的业务发展势头依然强劲,为实现可持续的盈利增长做好了充分准备。我们对我们的业绩感到自豪,并上调了 2021 年全年的财务展望,重申了我们之前宣布的中长期增长目标。
对于截至2021年12月31日的三个月和一年,努韦预计总销量(1)、收入和调整后EBITDA(2)将在以下范围内。考虑到截至2021年9月30日的三个月期间的强劲表现,努韦公司的收入和调整后EBITDA(2)超出了之前的预期,以及业务的持续发展势头,管理层上调了截至2021年12月31日的年度财务展望。更新后的财务展望,特别是调整后 EBITDA(2),反映了公司加快对分销、营销、创新、技术以及最近收购 Mazooma 后的基础设施投资的战略。公司预计这些投资将支持其增长计划。财务展望还包括最近完成的对 Simplex 和 Paymentez 的收购。
财务展望是完全有条件的,并基于本新闻稿 "前瞻性信息 "标题下所述的一系列假设。努韦公司的展望也构成适用证券法意义上的 "财务展望",其目的是帮助读者了解公司的财务业绩和衡量管理层目标的进展情况,读者应注意其可能不适合用于其他目的。
| 截至 2021 年 12 月 31 日的三个月 | 截止年度 截至 2021 年 12 月 31 日的年度 | ||
| (In U.S. dollars) | $ | $ | $ |
| Previous | 已更新 | ||
| Total volume(1) (in billions) | 25.5 - 26.5 | 88 - 91 | 90 - 91 |
| Revenue (in millions) | 204 - 210 | 690 - 705 | 717 - 723 |
| 调整后息税折旧摊销前利润(2)(单位:百万美元) | 86 - 90 | 295 - 305 | 312 - 316 |
努韦公司总交易量(1)和收入的中期(3)年度增长目标以及调整后息税折旧摊销前利润率(2) 的长期目标如下表所示。公司希望通过核心业务的持续发展和业绩表现来实现中期(3)和长期(3)目标,其驱动力包括地域扩张、产品创新、现有商户客户钱包份额的增长、通过直销渠道赢得的新商户客户和不断增长的销售管道,以及公司所服务行业的良好发展态势。
| Growth Targets | |
| Total volume(1) | 中期年增长率超过 30%(3) |
| Revenue | 中期年增长率超过 30%(3) |
| Adjusted EBITDA margin(2) | 长期 50%(3) |
(1) 总交易量并不代表公司所赚取的收入,而是指商家根据与公司的合同协议所处理交易的美元总值。总交易量在公司最新的《管理层对财务状况和经营成果的讨论与分析》中有更详细的解释。
(2) 调整后 EBITDA、调整后 EBITDA 利润率和调整后净收入均为非国际财务报告准则计量。参见 "非国际财务报告准则计量"。
(3) "中期 "和 "长期 "尚未由努维定义,努维也不打算对其进行定义。这些目标不应被视为预测、预报或预期结果,而应被视为我们战略执行过程中可能实现的目标。这些增长目标是完全有条件的,并基于本新闻稿 "前瞻性信息 "标题下所述的一系列假设。
Nuvei 将于美国东部时间 2021 年 11 月 9 日上午 8:30 召开电话会议,讨论 2021 年第三季度财务业绩。电话会议将由董事长兼首席执行官菲利普-法耶(Philip Fayer)和首席财务官大卫-施瓦茨(David Schwartz)主持。
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.
您也可以拨打 877-425-9470(美国/加拿大免费电话)或 201-389-0878(国际长途),通过电话收听此次电话会议。电话会议结束一小时后将提供重播,可拨打 844-512-2921(美国/加拿大免费电话)或 412-317-6671(国际长途);会议 ID 为 13724346。重播将持续到 2021 年 11 月 23 日星期二。
我们是 Nuvei(纳斯达克股票代码:NVEI)(多伦多证券交易所股票代码:NVEI),是繁荣品牌的全球支付技术合作伙伴。我们提供企业在本地和全球取得成功所需的智能和技术,通过一次整合,推动企业更快、更远地发展。我们将支付技术与咨询相结合,帮助企业消除支付障碍、优化运营成本并提高接受率。我们的专有平台提供无缝支付和付款功能,将全球 204 个市场的商户与其客户连接起来,并在 45 个市场提供本地收单服务。该平台支持 500 多种本地支付方式和替代支付方式、近 150 种货币和 40 种加密货币,商户可以抓住每一个支付机会。我们的宗旨是让世界成为本地市场。
For more information, visit www.nuvei.com
努韦公司未经审计的简明中期合并财务报表是根据国际会计准则委员会发布的《国际财务报告准则》编制的。本新闻稿提供的信息包括非国际财务报告准则财务计量,即调整后息税折旧摊销前利润、调整后息税折旧摊销前利润率、调整后净收入、调整后每基本股净收入和调整后每摊薄股净收入。这些指标不是《国际财务报告准则》认可的指标,也没有《国际财务报告准则》规定的标准含义,因此不可能与其他公司提供的类似指标进行比较。相反,这些指标是作为补充信息提供的,通过从管理层的角度进一步了解公司的经营业绩来补充《国际财务报告准则》指标。因此,这些指标不应单独考虑,也不应替代根据《国际财务报告准则》报告的公司财务信息分析。调整后息税折旧摊销前利润、调整后息税折旧摊销前利润率、调整后净收入、调整后基本每股净收入和调整后摊薄每股净收入用于为投资者提供公司经营业绩的补充指标,从而突出努韦公司核心业务的趋势,而这些趋势如果仅依赖于《国际财务报告准则》指标可能并不明显。公司管理层还认为,证券分析师、投资者和其他相关方在评估发行人时经常使用非《国际财务报告准则》指标。Nuvei 的管理层也使用非《国际财务报告准则》衡量标准,以便于对不同时期的经营业绩进行比较,编制年度经营预算和预测,并确定管理层薪酬的组成部分。公司管理层认为,调整后息税折旧摊销前利润、调整后息税折旧摊销前利润率、调整后净收入、调整后基本每股净收入和调整后摊薄每股净收入是 Nuvei 业绩的重要补充指标,主要是因为这些指标和类似指标在支付技术行业被广泛用作评估公司基本运营业绩的一种手段。有关这些指标的描述和调节,请参阅管理层讨论与分析中的 "非国际财务报告准则指标 "部分。
本新闻稿包含适用证券法定义的 "前瞻性信息",包括努韦公司对截至2021年12月31日的三个月和一年的总量、收入和调整后EBITDA的展望,以及总量、收入和调整后EBITDA的中长期目标。In some cases, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “budget”, “scheduled”, “estimates”, “outlook”, “forecasts”, “projection”, “prospects”,"战略"、"打算"、"预计"、"不预计"、"相信",或这些词语和短语的变体,或关于某些行动、事件或结果 "可能"、"可以"、"会"、"可能"、"将要"、"将采取"、"发生 "或 "实现 "的陈述,以及这些术语和类似术语的反义词。此外,任何提及预期、意图、预测或对未来事件或情况的其他描述的陈述都包含前瞻性信息。包含前瞻性信息的声明并非历史事实,而是管理层对未来事件或情况的预期、估计和预测。努韦公司关于收入、调整后 EBITDA 和调整后 EBITDA 利润率的展望和目标(视情况而定)也构成适用证券法意义上的 "财务展望",其目的是帮助读者了解公司的财务业绩和衡量管理层目标的进展情况,读者应注意这些展望和目标可能不适合用于其他目的。前瞻性信息涉及已知和未知的风险和不确定性,其中许多风险和不确定性超出了公司的控制范围,可能导致实际结果与此类前瞻性信息披露或暗示的结果存在实质性差异。这些风险和不确定因素包括但不限于公司于 2021 年 3 月 17 日提交的年度信息表中 "风险因素 "部分所述的风险和不确定因素。前瞻性信息基于管理层的信念和假设以及管理层目前掌握的信息。特别是,管理层对总量、收入、调整后 EBITDA 和调整后 EBITDA 利润率的评估、展望和目标通常基于以下假设:(a) Nuvei 的经营业绩将一如预期,(b) 尽管目前 COVID-19 大流行并采取了遏制该病毒的措施,但公司将继续有效执行其关键战略增长优先事项,(c) 公司将继续保留和扩大现有客户群,同时增加新客户,(d) 公司将不会完成任何收购或资产剥离,(e) 经济状况在整个期间将保持相对稳定、(f) Nuvei 所涉足的行业将继续按照过去的经验增长;(g) 货币汇率不会波动,金融市场不会动荡;(h) 立法或监管事项不会发生重大变化;(i) 现行税法将继续有效,不会发生重大变化。尽管本新闻稿中包含的前瞻性信息是基于管理层认为合理的假设,但由于实际结果可能与前瞻性信息不同,因此请勿过分依赖这些信息。除非另有说明或上下文另有所指,本新闻稿中包含的前瞻性信息截至本新闻稿发布之日,公司不承诺更新或修改这些前瞻性信息,无论这些信息是否因新信息、未来事件或其他原因而更新或修改,适用法律可能要求更新或修改的除外。
Investors
Anthony Gerstein
Vice President, Head of Investor Relations
anthony.gerstein@nuvei.com
(in thousands of U.S. dollars except for shares and per share amounts)
| 截至以下日期的三个月 九月三十日 | 截至以下日期的九个月 九月三十日 | |||
| 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) |
| 财务费用 | 5,131 | 101,255 | 11,878 | 156,597 |
| 财务费用净额 | 4,593 | 99,880 | 9,569 | 152,427 |
| Loss (gain) on foreign currency exchange | 727 | (9,544) | 1,973 | 17,889 |
| 所得税前收入(亏损 | 34,204 | (74,364) | 112,087 | (122,268) |
| Income tax expense | 6,202 | 3,505 | 17,381 | 3,979 |
| 净收入(亏损) | 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) |
| 净收入(亏损)归属于 | ||||
| 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) | |
| 每股净收入(亏损 | ||||
| 归属于公司普通股股东的每股净收入(亏损 | ||||
| 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 |
(单位:千美元)
| Three months endedSeptember 30 | Nine months endedSeptember 30 | |||
| 2021 | 2020 | 2021 | 2020 | |
| $ | $ | $ | $ | |
| 净收入(亏损) | 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) |
| 折旧和摊销 | 23,152 | 16,931 | 64,890 | 51,264 |
| Income tax expense | 6,202 | 3,505 | 17,381 | 3,979 |
| 收购、整合和遣散费用(a) | 7,218 | 2,418 | 17,058 | 5,296 |
| 以股份为基础的付款(b) | 11,187 | 6,472 | 20,245 | 7,207 |
| Loss (gain) on foreign currency exchange | 727 | (9,544) | 1,973 | 17,889 |
| 法律和解及其他(c) | (138) | (802) | (42) | (146) |
| 调整后息税折旧摊销前利润(d) | 80,943 | 40,991 | 225,780 | 111,669 |
| 第三方预付款 - 已收商户余款(e) | 1,854 | 3,848 | 7,720 | 9,516 |
| 合并财务状况表数据(单位:千美元) | ||
| 2021 年 9 月 30 日 | 2020 年 12 月 31 日 | |
| $ | $ | |
| 资产 | ||
| 流动资产 | ||
| 现金 | 288,734 | 180,722 |
| 贸易和其他应收款 | 43,276 | 32,055 |
| 库存 | 419 | 80 |
| 预付费用 | 6,920 | 4,727 |
| 应收所得税 | 4,156 | 6,690 |
| 第三方预付款的当期部分 | 4,630 | 8,520 |
| 合同资产的流动部分 | 1,524 | 1,587 |
| 未计入分离基金的流动资产总额 | 349,659 | 234,381 |
| 独立基金 | 592,388 | 443,394 |
| 流动资产共计 | 942,047 | 677,775 |
| 非流动资产 | ||
| 给第三方的预付款 | 21,040 | 38,478 |
| 财产和设备 | 16,750 | 16,537 |
| 无形资产 | 756,593 | 524,232 |
| 商誉 | 1,133,864 | 969,820 |
| 递延税款资产 | 13,472 | 3,785 |
| 合同资产 | 1,063 | 1,300 |
| 处理器存款 | 5,562 | 13,898 |
| 其他非流动资产 | 3,017 | 1,944 |
| 总资产 | 2,893,408 | 2,247,769 |
| 负债 | ||
| 流动负债 | ||
| 贸易和其他应付款 | 98,492 | 64,779 |
| 应付所得税 | 22,319 | 7,558 |
| 贷款和借款的当期部分 | 8,485 | 2,527 |
| 其他流动负债 | 10,110 | 7,132 |
| 应付商家款项前的流动负债总额 | 139,406 | 81,996 |
| 由于商家 | 592,388 | 443,394 |
| 流动负债共计 | 731,794 | 525,390 |
| 非流动负债 | ||
| 贷款和借款 | 501,385 | 212,726 |
| 递延税款负债 | 75,320 | 50,105 |
| 其他非流动负债 | 7,757 | 1,659 |
| 负债总额 | 1,316,256 | 789,880 |
| 公平 | ||
| 股东应占权益 | ||
| 股本 | 1,644,611 | 1,625,785 |
| 捐款盈余 | 38,688 | 11,966 |
| 赤字 | (119,557) | (211,042) |
| 累计其他综合收益 | 2,359 | 22,470 |
| 1,566,101 | 1,449,179 | |
| Non-controlling interest | 11,051 | 8,710 |
| 权益总额 | 1,577,152 | 1,457,889 |
| 负债和权益合计 | 2,893,408 | 2,247,769 |
| Consolidated Statements of Cash Flow Data(in thousands of U.S. dollars) | ||
| 截至 9 月 30 日的九个月 | 2021 | 2020 |
| $ | $ | |
| Cash flow from operating activities | ||
| 净收入(亏损) | 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 |
| 财务费用净额 | 9,569 | 152,427 |
| 外币兑换损失 | 1,973 | 17,889 |
| 子公司处置减值 | - | 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) |
| 已付所得税 | (14,291) | (10,579) |
| 201,885 | 48,969 | |
| 来自(用于)投资活动的现金流 | ||
| Business acquisitions, net of cash acquired | (387,654) | - |
| 出售一家子公司的收益,扣除现金 | - | 19,045 |
| 其他非流动资产减少(增加)额 | 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 | ||
| 贷款和借款所得 | 300,000 | - |
| 与贷款和借款有关的交易成本 | (5,373) | (293) |
| 行使股票期权的收益 | 6,499 | - |
| 发行次级表决权股份所得款项 | - | 758,597 |
| 发行普通股的交易成本 | (74) | (38,561) |
| 股东偿还可转换债券 | - | (93,384) |
| 偿还贷款和借款 | - | (642,786) |
| 支付租赁负债 | (1,962) | (1,795) |
| 子公司向非控股权益支付的股息 | (880) | (600) |
| 298,210 | (18,822) | |
| 汇率变动对现金的影响 | (4,582) | 1,386 |
| 现金净增加额 | 108,012 | 39,354 |
| 现金--期初 | 180,722 | 60,072 |
| 现金 - 期末 | 288,734 | 99,426 |

作为Nuvei公司人工智能与分析总监,Asaf BenGal领导人工智能与分析团队,专注于创新、持续学习及新兴技术的实际应用。他的工作涵盖经典机器学习方法与先进人工智能系统,包括大型语言模型、MCP服务器及智能代理技术,所有这些都旨在提升运营效率,推动关键业务指标实现可量化的增长。
他深耕教育事业,致力于知识共享,坚信教育能揭开复杂技术的奥秘,使其触手可及。迎接新挑战并与多元化的跨职能团队协作,是他拓展视野、加速职业成长的核心途径。
他的专业领域涵盖机器学习、深度学习、分析方法论、大数据架构以及尖端的生成式人工智能。