Nuvei Announces Fourth Quarter and Fiscal Year 2021 Results

authorization-optimization

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

Accounts Receivable Management

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Healthcare payment solutions

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Legal and Professional Services

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Small business financing

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Charitable Organizations

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Service-based businesses

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

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

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

独立软件供货商

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

加密货币平台与兑换

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

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

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

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

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

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

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

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

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

数字内容与订阅

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

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

Nuvei appoints Vicky Bindra as CPO / COO

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

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

MONTREAL, November 2, 2022 – Nuvei Corporation (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces the appointment of Vicky Bindra as Chief Product and Operations Officer, effective November 14, 2022.

In this newly created role reporting to Nuvei Chair and CEO Phil Fayer, Bindra will oversee product development and operations, supporting growth across geographies and verticals. His focus will be on delivering custom-made solutions and supporting processes designed to accelerate revenue for Nuvei’s customers. He will be based in San Francisco.

Bindra joins Nuvei from his position of Chief Product Officer at FIS where he was responsible for the strategic product function across the company, identifying and creating products and propositions for merchants, banks, fintechs, insurance and investment companies.

Prior to FIS, he had a successful career in payment and fintech, including being CEO of Pine Labs, the Sequoia-backed Indian Fintech Unicorn. He also managed Mastercard’s business across APAC and MEA as its president prior to leading product and solutions globally at Visa.

Bindra started his career in finance and strategy consulting with various senior leadership roles including CEO of GE Capital India, EVP at Citi and as a partner at Bain & Company.

He took numerous non-executive director and advisor positions at, among others, Inchcape, Blackhawk Network, CloudPay and Billtrust. He is a chartered accountant and has an MBA from MIT’s Sloan School of Management.

“I am delighted to see Vicky getting on board. Our growth comes from our beautiful products and technology, and Vicky, with his expertise and deep understanding of our end market will help shape our future,” said Fayer. “He will also bring with him his warmth and positivity that will radiate through the organization,” Fayer added.

About Nuvei

Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company accelerating the business of clients around the world. Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 570 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.

For more information, visit www.nuvei.com.

Contact:

Investor Relations

IR@nuvei.com

Public Relations
PR@nuvei.com

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

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

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

MONTREAL, June 9, 2023 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today the appointment of Laura Miller to a newly created role of Chief Revenue Officer and Global Head of eCommerce, reporting directly to Nuvei President Yuval Ziv.

An inspirational leader in the financial services industry with a proven track record of delivering success at the highest level, Miller joins Nuvei immediately to spearhead the company’s global commercial strategy across many of its key high growth target verticals. Her primary responsibilities will include developing Nuvei’s strengthening relationships with the leading enterprises in global eCommerce, as well as heading up its eCommerce commercial organization in North America, Europe, MEA, APAC and LATAM.

Miller joins at an exciting time for Nuvei as the company continues to demonstrate its enhanced proposition across diversified use cases in global eCommerce, B2B, ISV and Government. Recent Nuvei large enterprise commercial wins include Radisson Hotel Group, Sabre, Virgin Atlantic, Cart.com, and Shein.

Miller commented on the announcement: “I am thrilled to be joining Nuvei at such an important moment. The company is establishing great momentum with many of the world’s most significant eCommerce businesses, and I am eager to support accelerating its growth further. Nuvei is uniquely positioned to enable global businesses to scale internationally while optimizing their payments in regional markets, so I am looking forward to leveraging my experience working with many leading enterprise businesses as we go on this journey.”

Miller brings almost 25 years of expertise in strategic planning, sales leadership, and business development within the payments industry. Her deep understanding of the payments ecosystem will support Nuvei’s mission to provide innovative payment solutions that are tailored to the unique needs of global businesses and built to accelerate eCommerce growth.

Prior to joining Nuvei, Miller held prominent positions at several leading, global financial institutions. Most recently, she served as President, JPMorgan Merchant Services, overseeing the bank’s commercial relationships with its largest global customers. Before joining JPMorgan Chase & Co., Miller held senior leadership positions at American Express, where she played a key role in driving sales growth and client management in the commercial card segment. Throughout her esteemed career, Laura has demonstrated expertise in leading large sales organizations, implementing sales strategies, and expanding client relationships.

“We are excited to welcome Laura to the Nuvei team,” commented Nuvei’s President Yuval Ziv. “Laura is a highly skilled and experienced leader with a deep understanding of the payments industry. She is also a strong advocate for businesses and has a proven track record of success in helping them accelerate growth which matches our mission at Nuvei. I have every confidence that Laura will be a key contributor to helping Nuvei achieve our ambitious goals.”

‍About Nuvei

‍Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company accelerating the business of clients around the world. Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 47+ markets, 150 currencies and more than 600 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.

For more information, visit www.nuvei.com

‍Contact: Public Relations

‍alex.hammond@nuvei.com

‍Investor Relations

‍IR@nuvei.com

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

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

Nuvei today announced that shareholders voted in favour of all items of business put forth by the Company at its annual shareholders’ meeting held on May 28, 2021 (the “Meeting”)

MONTREAL, May 31, 2021 – Nuvei Corporation (“Nuvei” or the “Company”) (TSX: NVEI and NVEI.U) today announced that shareholders voted in favour of all items of business put forth by the Company at its annual shareholders’ meeting held on May 28, 2021 (the “Meeting”).

Voting Results of the Meeting

Election of Directors

The five (5) nominees for directors were elected by a majority of the votes cast by the shareholders present or represented by proxy at the Meeting. The votes cast for each nominee were as follows:

NomineesVotes ForPercentage of Votes ForVotes WithheldPercentage of Votes Withheld(a) Philip Fayer855,927,75999.98%195,6990.02%(b) Michael Hanley854,984,76499.87%1,138,3100.13%(c) David Lewin855,785,02399.96%338,0510.04%(d) Daniela Mielke856,088,12299.99%34,9520.01%(e) Pascal Tremblay855,451,94199.92%671,1330.08%

Appointment of Auditors

PricewaterhouseCoopers LLP, chartered accountants, were appointed as auditors of the Company by a majority of the votes cast by the shareholders present or represented by proxy at the Meeting. The votes cast were as follows:

Votes ForPercentage of Votes ForVotes WithheldPercentage of Votes Withheld859,234,53199.99%18,4870.01%

Final voting results on all matters voted at the Meeting are available on SEDAR at www.sedar.com.

Appointment of Lindsay Matthews as General Counsel and Corporate Secretary

Nuvei announced that Lindsay Matthews will be joining its management team as General Counsel and Corporate Secretary effective today, May 31, 2021.

Ms. Matthews has over 23 years of broad legal experience in corporate, securities and commercial law, as well as in M&A and corporate governance, both as in-house counsel and in private practice. She was most recently Vice-President, General Counsel and Corporate Secretary of Gildan Activewear Inc., where she led the global legal team since 2010. Prior to joining Gildan in 2004, Ms. Matthews practised corporate and securities law at Ogilvy Renault (now Norton Rose Fulbright). Ms. Matthews holds a B.C.L. and LL.B. from the McGill University Faculty of Law as well as a B.A. from Northwestern University.

About Nuvei

We are Nuvei (TSX: NVEI and NVEI.U), the global payment technology partner of thriving brands. We provide the intelligence and technology businesses need to succeed locally and globally, through one integration – propelling them further, faster. Uniting payment technology and consulting, we help businesses remove payment barriers, optimize operating costs and increase acceptance rates. Our proprietary platform provides seamless pay-in and payout capabilities, connecting merchants with their customers in 200 markets worldwide with local acquiring in 44 markets. With support for over 470 local and alternative payment methods, nearly 150 currencies and 40 cryptocurrencies, merchants can capture every payment opportunity that comes their way. Our purpose is to make our world a local marketplace. For more information, visit www.nuvei.com.

Forward-Looking Information

This press release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information involves known and unknown risks and uncertainties, many of which are beyond the Company’s control, that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include but are not limited to those described under the “Risks Factors” section of the Company’s annual information form filed on March 17, 2021. Forward-looking information is based on management’s beliefs and assumptions and on information currently available to management. Although the forward-looking information contained in this press release is based upon what management believes are reasonable assumptions, you are cautioned against placing undue reliance on this information since actual results may vary from the forward-looking information. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained in this press release is provided as of the date of this press release, and the Company does not undertake to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.

Contact:

Investors
Anthony Gerstein
Vice President, Head of Investor Relations
agerstein@nuvei.com

Nuvei Announces Third Quarter 2024 Results

nuvei-announces-third-quarter-2024-results

Nuvei Announces Third Quarter 2024 Results

MONTREAL, NOVEMBER 12, 2024 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, today reported its financial results for the three and nine months ended September 30, 2024.

“We are pleased to report third quarter financial results that underscore the rapid scaling of our business, with total volume increasing 27% and revenue higher by 17% year-over-year, setting us up well to achieve our targeted growth in the quarters and years ahead as we deliver more differentiated value across our global payment solutions platform,” said Philip Fayer, Nuvei Chair and CEO. “Our business remains highly profitable, with third quarter margins reflecting opportunistic investments to expand our global footprint. As we look to finalize our pending take-private, we are already executing on a highly compelling value creation plan, and we have initiated the process of adding 300-plus new roles across our product, technology, and commercial teams,” concluded Fayer.

Financial Highlights for the Three Months Ended September 30, 2024 Compared to 2023:

Total volume(a) increased by 27% to $61.3 billion from $48.2 billion;
Revenue increased by 17% to $357.6 million from $304.9 million;
Net income increased to $17.2 million from a net loss of $18.1 million;
Adjusted EBITDA(b) decreased by 2% to $108.8 million from $110.7 million;
Adjusted net income(b) decreased by 8% to $52.3 million from $56.8 million;
Net income per diluted share increased to $0.10 from a net loss per diluted share of $0.14;
Adjusted net income per diluted share(b) decreased by 13% to $0.34 from $0.39;
Adjusted EBITDA less capital expenditures(b) decreased to $92.6 million from $97.5 million.

Financial Highlights for the Nine Months Ended September 30, 2024 Compared to 2023:

Total volume(a) increased by 30% to $183.1 billion from $141.2 billion;
Revenue increased 20% to $1,038.2 million from $868.4 million;
Net income increased to $17.8 million from a net loss of $14.8 million;
Adjusted EBITDA(b) increased by 7% to $340.4 million from $317.3 million;
Adjusted net income(b) decreased by 1% to $177.4 million from $179.3 million;
Net income per diluted share increased to $0.08 from a net loss per diluted share of $0.14;
Adjusted net income per diluted share(b) decreased by 4% to $1.16 from $1.21;
Adjusted EBITDA less capital expenditures(b)increased by 4% to $288.0 million from $277.0 million; and,
Cash dividends declared were $42.3 million.

(a) Total volume does not represent revenue earned by the Company, but rather the total dollar value of transactions processed by merchants under contractual agreement with the Company. See “Non-IFRS and Other Financial Measures”.

(b) Adjusted EBITDA, Adjusted net income, Adjusted net income per diluted share and Adjusted EBITDA less capital expenditures are non-IFRS measures and non-IFRS ratios. These measures are not recognized measures under IFRS and do not have standardized meanings prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. See “Non-IFRS and Other Financial Measures”.

Proposed take private transaction

As previously announced, on April 1, 2024 the Company entered into a definitive arrangement agreement to be taken private by Advent International (“Advent”), one of the world’s largest and most experienced global private equity investors, as well as a longstanding sponsor in the payments space, alongside existing Canadian shareholders Philip Fayer, certain investment funds managed by Novacap Management Inc. and Caisse de dépôt et placement du Québec, in an all-cash transaction which values the Company at an enterprise value of approximately $6.3 billion (the “Proposed transaction”). Advent will acquire all the issued and outstanding Subordinate Voting Shares and any Multiple Voting Shares (collectively the “Shares”) that are not Rollover Shares , for a price of $34.00 per Share, in cash. This price represents an attractive and significant premium of approximately 56% to the closing price of the Subordinate Voting Shares on the Nasdaq Global Select Market (“Nasdaq”) on March 15, 2024, the last trading day prior to media reports concerning a potential transaction involving the Company, and a premium of approximately 48% to the 90-day volume weighted average trading price per Subordinate Voting Share as of such date.

The Proposed transaction will be implemented by way of a statutory plan of arrangement under the Canada Business Corporations Act. The Proposed transaction was approved by shareholders at a special meeting held on June 18, 2024 and received court approval on June 20, 2024. The Proposed transaction remains subject to customary closing conditions, including receipt of key regulatory approvals (a majority of which were received and/or for which the waiting period has expired as of the date hereof, with a limited number of approvals remaining outstanding), is not subject to any financing condition and, assuming the timely receipt of all required key regulatory approvals, is expected to close in the fourth quarter of 2024.

Following completion of the transaction, it is expected that the Subordinate Voting Shares will be delisted from each of the Toronto Stock Exchange and the Nasdaq and that Nuvei will cease to be a reporting issuer in all applicable Canadian jurisdictions and will deregister the Subordinate Voting Shares with the U.S. Securities and Exchange Commission (the “SEC”).

Cash Dividend

Nuvei today announced that its Board of Directors has authorized and declared a cash dividend of $0.10 per Subordinate Voting Share and Multiple Voting Share, payable on December 12, 2024 to shareholders of record on November 26, 2024. The aggregate amount of the dividend is expected to be approximately $14 million, to be funded from the Company’s existing cash on hand. In accordance with the Plan of arrangement, shareholders are entitled to dividends with a record date prior to the effective date of the Proposed transaction. Should the Proposed transaction be completed before the record date, the dividend will not be paid. Accordingly, payment of the dividend will be made on December 12, 2024 if the Proposed transaction is not completed prior to the record date of November 26, 2024.

The Company, for the purposes of the Income Tax Act (Canada) and any similar provincial or territorial legislation, designates the dividend declared for the quarter ended September 30, 2024, and any future dividends, to be eligible dividends. The Company further expects to report such dividends as a dividend to U.S. shareholders for U.S. federal income tax purposes. Subject to applicable limitations, dividends paid to certain non-corporate U.S. shareholders may be eligible for taxation as “qualified dividend income” and therefore may be taxable at rates applicable to long-term capital gains. A U.S. shareholder should talk to its advisor regarding such dividends, including with respect to the “extraordinary dividend” provisions of the Internal Revenue Code (US).

The declaration, timing, amount and payment of future dividends remain at the discretion of the Board of Directors, as more fully described under the heading “Forward-Looking Information” of this press release.

Conference Call, Financial Outlook and Growth Targets

In light of the Proposed transaction, Nuvei no longer holds earnings conference calls or provides a financial outlook or growth targets.

About Nuvei

Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company accelerating the business of clients around the world. Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 50 markets, 150 currencies and 720 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.

For more information, visit www.nuvei.com

Non-IFRS and Other Financial Measures

Nuvei’s condensed interim consolidated financial statements have been prepared in accordance with IFRS applicable to the preparation of interim financial statements, including IAS 34, Interim Financial Reporting, as issued by the IASB. The information presented in this press release includes non-IFRS financial measures, non-IFRS financial ratios and supplementary financial measures, namely Adjusted EBITDA, Adjusted net income, Adjusted net income per basic share, Adjusted net income per diluted share, Adjusted EBITDA less capital expenditures and Total volume. These measures are not recognized measures under IFRS and do not have standardized meanings prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement IFRS measures by providing further understanding of our results of operations from our perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of the Company’s financial statements reported under IFRS. These measures are used to provide investors with additional insight of our operating performance and thus highlight trends in Nuvei’s business that may not otherwise be apparent when relying solely on IFRS measures. We also believe that securities analysts, investors and other interested parties frequently use these non-IFRS and other financial measures in the evaluation of issuers. We also use these measures to facilitate operating performance comparisons from period to period, to prepare annual operating budgets and forecasts and to determine components of management compensation. We believe these measures are important additional measures of our performance, primarily because they and similar measures are used widely among others in the payment technology industry as a means of evaluating a company’s underlying operating performance.

Non-IFRS Financial Measures

Adjusted EBITDA: We use Adjusted EBITDA as a means to evaluate operating performance, by eliminating the impact of non-operational or non-cash items. Adjusted EBITDA is defined as net income (loss) before finance costs (recovery), finance income, depreciation and amortization, income tax expense, acquisition, integration and severance costs, share-based payments and related payroll taxes, loss (gain) on foreign currency exchange, and legal settlement and other.

Adjusted EBITDA less capital expenditures: We use Adjusted EBITDA less capital expenditures (which we define as acquisition of intangible assets and property and equipment) as a supplementary indicator of our operating performance.

Adjusted net income: We use Adjusted net income as an indicator of business performance and profitability with our current tax and capital structure. Adjusted net income is defined as net income (loss) before acquisition, integration and severance costs, share-based payments and related payroll taxes, loss (gain) on foreign currency exchange, amortization of acquisition-related intangible assets, and the related income tax expense or recovery for these items. Adjusted net income also excludes change in redemption value of liability-classified common and preferred shares, change in fair value of share repurchase liability and accelerated amortization of deferred financing fees and legal settlement and other.

Non-IFRS Financial Ratios

Adjusted net income per basic share and per diluted share: We use Adjusted net income per basic share and per diluted share as an indicator of performance and profitability of our business on a per share basis. Adjusted net income per basic share and per diluted share means Adjusted net income less net income attributable to non-controlling interest divided by the basic and diluted weighted average number of common shares outstanding for the period, respectively. The number of share-based awards used in the diluted weighted average number of common shares outstanding in the Adjusted net income per diluted share calculation is determined using the treasury stock method as permitted under IFRS.

Supplementary Financial Measures

We monitor the following key performance indicators to help us evaluate our business, measure our performance, identify trends affecting our business, formulate business plans and make strategic decisions. Our key performance indicators may be calculated in a manner that differs from similar key performance indicators used by other companies.

Total volume: We believe Total volume is an indicator of performance of our business. Total volume and similar measures are used widely among others in the payments industry as a means of evaluating a company’s performance. We define Total volume as the total dollar value of transactions processed in the period by customers under contractual agreement with us. Total volume does not represent revenue earned by us. Total volume includes acquiring volume, where we are in the flow of funds in the settlement transaction cycle, gateway/technology volume, where we provide our gateway/technology services but are not in the flow of funds in the settlement transaction cycle, as well as the total dollar value of transactions processed relating to APMs and payouts. Since our revenue is primarily sales volume and transaction-based, generated from merchants’ daily sales and through various fees for value-added services provided to our customers, fluctuations in Total volume will generally impact our revenue.

Forward-Looking Information

This press release contains “forward-looking information” and “forward-looking statements” (collectively, “Forward-looking information”) within the meaning of applicable securities laws. Such forward-looking information may include, without limitation, information with respect to our objectives and the strategies to achieve these objectives, as well as information with respect to our beliefs, plans, expectations, anticipations, estimates and intentions. This forward-looking information is identified by the use of terms and phrases such as “may”, “would”, “should”, “could”, “expect”, “intend”, “estimate”, “anticipate”, “plan”, “foresee”, “believe”, or “continue”, the negative of these terms and similar terminology, including references to assumptions, although not all forward-looking information contains these terms and phrases. Particularly, information regarding our expectations of future results, performance, achievements, prospects or opportunities or the markets in which we operate, expectations regarding industry trends and the size and growth rates of addressable markets, our business plans and growth strategies, addressable market opportunity for our solutions, expectations regarding growth and cross-selling opportunities and intention to capture an increasing share of addressable markets, the costs and success of our sales and marketing efforts, intentions to expand existing relationships, further penetrate verticals, enter new geographical markets, expand into and further increase penetration of international markets, intentions to selectively pursue and successfully integrate acquisitions, and expected acquisition outcomes, cost savings, synergies and benefits, including with respect to the acquisition of Paya, future investments in our business and anticipated capital expenditures, our intention to continuously innovate, differentiate and enhance our platform and solutions, expected pace of ongoing legislation of regulated activities and industries, our competitive strengths and competitive position in our industry, and expectations regarding our revenue, revenue mix and the revenue generation potential of our solutions and expectations regarding our margins and future profitability, as well as statements regarding the Proposed transaction with Advent International L.P., alongside existing Canadian shareholders Philip Fayer, certain investment funds managed by Novacap Management Inc., and Caisse de dépôt et placement du Québec, including the proposed timing and various steps contemplated in respect of the transaction and statements regarding the plans, objectives, and intentions of Philip Fayer, certain investment funds managed by Novacap Management Inc., Caisse de dépôt et placement du Québec or Advent, are forward-looking information. Economic and geopolitical uncertainties, including regional conflicts and wars, including potential impacts of sanctions, may also heighten the impact of certain factors described herein.

Forward-looking information is based on management's beliefs and assumptions and on information currently available to management, regarding, among other things, assumptions regarding foreign exchange rate, competition, political environment and economic performance of each region where the Company operates and general economic conditions and the competitive environment within our industry, including the following assumptions: (a) the Company will continue to effectively execute against its key strategic growth priorities, without any material adverse impact from macroeconomic or geopolitical headwinds on its or its customers' business, financial condition, financial performance, liquidity or any significant reduction in demand for its products and services, (b) the economic conditions in our core markets, geographies and verticals, including resulting consumer spending and employment, remaining at close to current levels, (c) assumptions as to foreign exchange rates and interest rates, including inflation, (d) the Company's continued ability to manage its growth effectively, (e) the Company's ability to continue to attract and retain key talent and personnel required to achieve its plans and strategies, including sales, marketing, support and product and technology operations, in each case both domestically and internationally, (f) the Company’s ability to successfully identify, complete, integrate and realize the expected benefits of past and recent acquisitions and manage the associated risks, as well as future acquisitions, (g) the absence of adverse changes in legislative or regulatory matters, (h) the Company’s continued ability to upskill and modify its compliance capabilities as regulations change or as the Company enters new markets or offers new products or services, (i) the Company’s continued ability to access liquidity and capital resources, including its ability to secure debt or equity financing on satisfactory terms, and (j) the absence of adverse changes in current tax laws. Unless otherwise indicated, forward-looking information does not give effect to the potential impact of any mergers, acquisitions, divestitures or business combinations that may be announced or closed after the date hereof. Although the forward-looking information contained herein is based upon what we believe are reasonable assumptions, investors are cautioned against placing undue reliance on this information since actual results may vary from the forward-looking information.

Forward-looking information involves known and unknown risks and uncertainties, many of which are beyond our control, that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, the risk factors described in greater detail under “Risk Factors” of the Company's annual information form ("AIF") and the “Risk Factor’s” in the Company’s management’s discussion and analysis of financial condition and results of operations for the three and nine months ended September 30, 2024 (“MD&A”), such as: risks relating to our business, industry and overall economic uncertainty; the rapid developments and change in our industry; substantial competition both within our industry and from other payments providers; challenges implementing our growth strategy; challenges to expand our product portfolio and market reach; changes in foreign currency exchange rates, interest rates, consumer spending and other macroeconomic factors affecting our customers and our results of operations; challenges in expanding into new geographic regions internationally and continuing our growth within our markets; challenges in retaining existing customers, increasing sales to existing customers and attracting new customers; reliance on third-party partners to distribute some of our products and services; risks associated with future acquisitions, partnerships or joint-ventures; challenges related to economic and political conditions, business cycles and credit risks of our customers, such as wars like the Russia-Ukraine and Middle East conflicts and related economic sanctions; the occurrence of a natural disaster, a widespread health epidemic or pandemic or other similar events; history of net losses and additional significant investments in our business; our level of indebtedness; challenges to secure financing on favorable terms or at all; difficulty to maintain the same rate of revenue growth as our business matures and to evaluate our future prospects; inflation; challenges related to a significant number of our customers being small and medium businesses ("SMBs"); a certain degree of concentration in our customer base and customer sectors; compliance with the requirements of payment networks; reliance on, and compliance with, the requirements of acquiring banks and payment networks; challenges related to the reimbursement of chargebacks from our customers; financial liability related to the inability of our customers (merchants) to fulfill their requirements; our bank accounts being located in multiple territories and relying on banking partners to maintain those accounts; decline in the use of electronic payment methods; loss of key personnel or difficulties hiring qualified personnel; deterioration in relationships with our employees; impairment of a significant portion of intangible assets and goodwill; increasing fees from payment networks; misappropriation of end-user transaction funds by our employees; frauds by customers, their customers or others; coverage of our insurance policies; the degree of effectiveness of our risk management policies and procedures in mitigating our risk exposure; the integration of a variety of operating systems, software, hardware, web browsers and networks in our services; the costs and effects of pending and future litigation; various claims such as wrongful hiring of an employee from a competitor, wrongful use of confidential information of third parties by our employees, consultants or independent contractors or wrongful use of trade secrets by our employees of their former employers; deterioration in the quality of the products and services offered; managing our growth effectively; challenges from seasonal fluctuations on our operating results; changes in accounting standards; estimates and assumptions in the application of accounting policies; risks associated with less than full control rights of some of our subsidiaries and investments; challenges related to our holding company structure; impacts of climate change; development of AI and its integration in our operations, as well as risks relating to intellectual property and technology, risks related to data security incidents, including cyber-attacks, computer viruses, or otherwise which may result in a disruption of services or liability exposure; challenges regarding regulatory compliance in the jurisdictions in which we operate, due to complex, conflicting and evolving local laws and regulations and legal proceedings and risks relating to our Subordinate Voting Shares. [These risks and uncertainties further include (but are not limited to) as concerns the Proposed transaction with Advent, the failure of the parties to obtain the necessary regulatory approvals or to otherwise satisfy the conditions to the completion of the transaction, failure of the parties to obtain such approvals or satisfy such conditions in a timely manner, significant transaction costs or unknown liabilities, failure to realize the expected benefits of the transaction, and general economic conditions. Failure to obtain the necessary regulatory approvals, or the failure of the parties to otherwise satisfy the conditions to the completion of the transaction or to complete the transaction, may result in the transaction not being completed on the proposed terms, or at all.] In addition, if the transaction is not completed, and the Company continues as a publicly-traded entity, there are risks that the announcement of the Proposed transaction and the dedication of substantial resources of the Company to the completion of the transaction could have an impact on its business and strategic relationships (including with future and prospective employees, customers, suppliers and partners), operating results and activities in general, and could have a material adverse effect on its current and future operations, financial condition and prospects. Furthermore, in certain circumstances, the Company may be required to pay a termination fee pursuant to the terms of the arrangement agreement which could have a material adverse effect on its financial position and results of operations and its ability to fund growth prospects and current operations.

Our dividend policy is at the discretion of the Board. Any future determination to declare cash dividends on our securities will be made at the discretion of our Board, subject to applicable Canadian laws, and will depend on a number of factors, including our financial condition, results of operations, capital requirements, contractual restrictions (including covenants contained in our credit facilities), general business conditions and other factors that our Board may deem relevant. Further, our ability to pay dividends, as well as make share repurchases, will be subject to applicable laws and contractual restrictions contained in the instruments governing our indebtedness, including our credit facility. Any of the foregoing may have the result of restricting future dividends or share repurchases.

Consequently, all of the forward-looking information contained herein is qualified by the foregoing cautionary statements, and there can be no guarantee that the results or developments that we anticipate will be realized or, even if substantially realized, that they will have the expected consequences or effects on our business, financial condition or results of operation. Unless otherwise noted or the context otherwise indicates, the forward-looking information contained herein represents our expectations as of the date hereof or as of the date it is otherwise stated to be made, as applicable, and is subject to change after such date. However, we disclaim any intention or obligation or undertaking to update or amend such forward-looking information whether as a result of new information, future events or otherwise, except as may be required by applicable law.

Contact:

Investors

Chris Mammone, Head of Investor Relations

IR@nuvei.com

_{(a) These expenses relate to:}

_{(i) professional, legal, consulting, accounting and other fees and expenses related to our acquisition and financing activities, including the expenses related to the Proposed transaction. For the three months and nine months ended September 30, 2024, these expenses were $2.4 million and $16.8 million ($3.4 million and $23.0 million for the three months and nine months ended September 30, 2023). These costs are presented in the professional fees line item of selling, general and administrative expenses.}

_{(ii) acquisition-related compensation was $0.7 million and $2.4 million for the three months and nine months ended September 30, 2024 and $0.6 million and $3.5 million for the three months and nine months ended September 30, 2023. These costs are presented in the employee compensation line item of selling, general and administrative expenses.}

_{(iii) change in deferred purchase consideration for previously acquired businesses. No amount was recognized for the three months and nine months ended September 30, 2024 and 2023. These amounts are presented in the contingent consideration adjustment line item of selling, general and administrative expenses.}

_{(iv) severance and integration expenses, which were $4.6 million and $5.1 million for the three months and nine months ended September 30, 2024 ($1.1 million and $10.6 million for three months and nine months ended September 30, 2023). These expenses are presented in selling, general and administrative expenses and cost of revenue.}

_{(b) These expenses are recognized in connection with stock options and other awards issued under share-based plans as well as related payroll taxes that are directly attributable to share-based payments. For the three months and nine months ended September 30, 2024, the expenses consisted of non-cash share-based payments of $14.9 million and $65.3 million ($34.0 million and $105.5 million for the three months and nine months ended September 30, 2023), $0.5 million and $4.9 million for related payroll taxes ($0.1 million and $0.9 million for the three months and nine months ended September 30, 2023),}

_{(c) This primarily represents legal settlements and associated legal costs, as well as non-cash gains, losses and provisions and certain other costs. These costs are presented in selling, general and administrative expenses. For the nine months ended September 30, 2024, the gain consisted mainly of a gain on business combination of $4.0 million.}

_{(a) This line item relates to amortization expense taken on intangible assets created from the purchase price adjustment process on acquired companies and businesses and resulting from a change in control of the Company.}

_{(b) These expenses relate to:}

_{(iv) severance and integration expenses, which were $4.6 million and $5.1 million for the three months and nine months ended September 30, 2024 ($1.1 million and $10.6 million for the three months and nine months ended September 30, 2023). These expenses are presented in selling, general and administrative expenses and cost of revenue.}

_{(c) These expenses are recognized in connection with stock options and other awards issued under share-based plans as well as related payroll taxes that are directly attributable to share-based payments. For the three months and nine months ended September 30, 2024, the expenses consisted of non-cash share-based payments of $14.9 million and $65.3 million ($34.0 million and $105.5 million for the three months and nine months ended September 30, 2023), $0.5 million and $4.9 million for related payroll taxes ($0.1 million and $0.9 million for the three months and nine months ended September 30, 2023).}

_{(d) This primarily represents legal settlements and associated legal costs, as well as non-cash gains, losses and provisions and certain other costs. These costs are presented in selling, general and administrative expenses. For the nine months ended September 30, 2024, the gain consisted mainly of a gain on business combination of $4.0 million.}

_{(e) This line item reflects income tax expense on taxable adjustments using the tax rate of the applicable jurisdiction.}

_{(f) The number of share-based awards used in the diluted weighted average number of common shares outstanding in the Adjusted net income per diluted share calculation is determined using the treasury stock method as permitted under IFRS.}

‍

Nuvei Announces Third Quarter 2023 Results

nuvei-announces-third-quarter-2023-results

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

Nuvei Announces Third Quarter 2022 Results

nuvei-announces-third-quarter-2022-results

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

MONTREAL, November 3, 2022 – Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, today reported its financial results for the three and nine months ended September 30, 2022.

“We are pleased with our results for the quarter, which exceeded the financial outlook previously provided. Results were driven by higher volumes and wallet share expansion as reflected in our constant currency volume growth of 38%, new client wins, our continued investment in technology and product offerings, and our geographic expansion,” said Philip Fayer, Nuvei’s Chair and CEO.

“We’re executing on our strategic initiatives and with the momentum we’re experiencing in the business year-to-date through October, we are increasing certain metrics as well as reaffirming the outlook for the full year 2022. We are also reiterating our medium and long-term targets.”

Financial Highlights for the Three Months Ended September 30, 2022

Total volume⁽¹⁾ increased 30% to $28.0 billion from $21.6 billion;
eCommerce represented 87% of total volume;
Total volume growth at constant currency⁽¹⁾ was 38% with Total volume at constant currency⁽¹⁾ increasing to $29.7 billion from $21.6 billion;
Revenue increased 7% to $197.1 million from $183.9 million;
Revenue was impacted unfavorably by changes in foreign currency exchange rates year-over-year by $11.5 million;
Revenue growth at constant currency⁽²⁾ was 13% with Revenue at constant currency⁽²⁾ increasing to $208.6 million from $183.9 million;
Net income decreased by 54% to $13.0 million from $28.0 million, primarily due to a $22.6 million increase in share-based payments;
Adjusted EBITDA⁽²⁾ increased to $81.2 million from $80.9 million;
Adjusted EBITDA was impacted unfavorably by changes in foreign currency exchange rates year-over-year by approximately $5 million;
Adjusted net income⁽²⁾ increased to $62.4 million from $62.3 million;
Net income per diluted share decreased by 58% to $0.08 compared to $0.19;
Adjusted net income⁽²⁾ per diluted share increased to $0.43 compared to $0.42; and
Adjusted EBITDA less capital expenditures⁽²⁾ decreased by 8% to $68.5 million from $74.5

Financial Highlights for the Nine Months Ended September 30, 2022

Total volume⁽¹⁾ increased 36% to $87.4 billion from $64.1 billion;
eCommerce represented 87% of total volume;
Total volume growth at constant currency⁽¹⁾ was 42% with Total volume at constant currency⁽¹⁾ increasing to $90.9 billion from $64.1 billion;
Revenue increased 22% to $623.0 million from $512.7 million;
Revenue was impacted unfavorably by changes in foreign currency exchange rates year-over-year by $28.3 million;
Revenue growth at constant currency⁽²⁾ was 27% with Revenue at constant currency⁽²⁾ increasing to $651.3 million from $512.7 million;
Net income decreased to $52.6 million from net income of $94.7 million, primarily due to a $83.4 million increase in share-based payments;
Adjusted EBITDA⁽²⁾ increased by 18% to $265.6 million from $225.8 million;
Adjusted net income⁽²⁾ increased by 16% to $206.2 million from $178.0 million;
Net income per diluted share decreased by 47% to $0.34 from $0.64;
Adjusted net income⁽²⁾ per diluted share increased by 14% to $1.39 from $1.22;
Adjusted EBITDA less capital expenditures⁽²⁾ increased by 11% to $231.8 million from $208.3 million; and
Cash balance of $754 million at September 30, 2022 compared to $749 million at December 31, 2021, mainly due to cash generation being offset by the repurchase and cancellation of approximately 8 million Subordinate Voting Shares for total consideration, including transaction costs, of $109 million.

⁽¹⁾Total volume and Total volume at constant currency do not represent revenue earned by the Company, but rather the total dollar value of transactions processed by merchants under contractual agreement with the Company. See “Non-IFRS and Other Financial Measures”.

⁽²⁾ Adjusted EBITDA, Revenue at constant currency, Revenue growth at constant currency, Adjusted net income, Adjusted net income per diluted share and Adjusted EBITDA less capital expenditures are non-IFRS measures and non-IFRS ratios. These measures are not recognized measures under IFRS and do not have standardized meanings prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. See “Non-IFRS and Other Financial Measures”.

Operational Highlights

Revenue for the third quarter of 2022 increased 4% to $105.5 million in Europe, the Middle East and Africa, increased 9% to $83.1 million in North America, increased 28% to $7.6 million in Latin America, and increased 47% to $1.0 million in Asia Pacific.
North America eCommerce direct revenue increased 40% to $25.6 million in this year’s third quarter from last year’s third quarter, representing approximately 30% of total North America revenue.
With respect to advancements in technology and product innovation, Nuvei:
Enhanced its platform architecture and infrastructure to support a greater number of transactions per second than previously, accommodate local data protection residency rules further enabling the Company to expand in more countries around the world, and offer segregated environments for large customers should it be a requirement.
Launched “Nuvei for Platforms” accelerating its marketplace offering with its fully customizable solution supporting complete functionality of its modular platform via a single integration.
Enhanced its payment orchestration platform with a self-service routing manager allowing customers to choose the routing of transactions amongst different acquirers based on their preferences using the Company’s data analytics.
Launched several additional products including Account Updater in Europe, Mastercard tokenization, Visa Account Funding Transaction Support, its partnership with Visa for buy now pay later in Canada, and its enhanced risk services and reporting offerings.
Nuvei added multiple new alternative payment methods (“APMs”) increasing its portfolio to 586 at the end of the third quarter, expanding access and allowing its customers to accept more forms of regionally familiar and preferred digital payment method
Nuvei received its gaming license in Maryland and Kansas, as well as a money transmitter license in Puerto Rico, expanding its online gaming reach in the United States.
Nuvei expanded it executive leadership team with the hiring of Vicky Bindra in the newly created position of Chief Operating and Product Officer.
The Company added 66 new team members in the third quarter of 2022, ending with 1,636 employees at September 30, 2022 compared with 1,368 employees at December 31, 2021.

Financial Outlook⁽³⁾

For the three months ending December 31, 2022 and the fiscal year ending December 31, 2022, Nuvei anticipates Total volume⁽¹⁾, Revenue, Revenue in constant currency and Adjusted EBITDA⁽²⁾ to be in the ranges below.

The financial outlook, including the various underlying assumptions, constitute forward-looking information within the meaning of applicable securities laws and is fully qualified and based on a number of assumptions and subject to a number of risks described under the headings “Forward-Looking Information” and “Financial Outlook and Growth Targets Assumptions” of this press release.

	Three months ending December 31,	Year ending December 31,
	2022	2022
	Forward-looking	Forward-looking	Forward-looking
		Previous	Revised
(In U.S. dollars)	$	$	$
Total volume⁽¹⁾ (in billions)	33 – 35	117 – 121	120 – 122
Revenue (in millions)	197 – 227	820 – 850	820 – 850
Revenue at constant currency⁽²⁾(in millions)	210 – 234	855 – 885	861 – 885
Adjusted EBITDA⁽²⁾(in millions)	75 – 84	335 – 350	341 – 350

Growth Targets

Nuvei’s medium-term⁽⁴⁾ annual growth targets for Total volume⁽¹⁾ and revenue, as well as its long-term target for Adjusted EBITDA margin⁽²⁾, are shown in the table below. These medium⁽⁴⁾ and long-term⁽⁴⁾ targets should not be considered as projections, forecasts or expected results but rather goals that we seek to achieve from the execution of our strategy over time, and at a further stage of business maturity, through geographic expansion, product innovation, growing wallet share with existing customers and new customer wins, as more fully described under the heading “Summary of Factors Affecting our Performance” of our most recent Management’s Discussion and Analysis of Financial Condition and Results of Operations. These growth targets, including the various underlying assumptions, constitute forward-looking information within the meaning of applicable securities laws and are fully qualified and based on a number of assumptions and subject to a number of risks described under the headings “Forward-Looking Information” and “Financial Outlook and Growth Targets Assumptions” of this press release. We will review and revise these growth targets as economic, market and regulatory environments change.

	Growth Targets
Total volume⁽¹⁾	30%+ annual year-over-year growth in the medium-term⁽⁴⁾
Revenue	30%+ annual year-over-year growth in the medium-term⁽⁴⁾
Adjusted EBITDA margin⁽²⁾	50%+ over the long-term⁽⁴⁾

⁽¹⁾Total volume do not represent revenue earned by the Company, but rather the total dollar value of transactions processed by merchants under contractual agreement with the Company. See “Non-IFRS and Other Financial Measures” below.

⁽²⁾Revenue at constant currency, Revenue growth at constant currency, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income, Adjusted net income per diluted share and Adjusted EBITDA less capital expenditures are non-IFRS measures. See “Non-IFRS and Other Financial Measures”.

⁽³⁾ Other than with respect to revenue, the Company only provides guidance on a non-IFRS basis. The Company does not provide a reconciliation of forward-looking revenue at constant currency (non-IFRS), Adjusted EBITDA (non-IFRS) to net income (loss) due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation. In periods where significant acquisitions or divestitures are not expected, the Company believes it might have a basis for forecasting the IFRS equivalent for certain costs, such as employee benefits, commissions and depreciation and amortization. However, because other deductions such as share-based payments, net finance costs, gain (loss) on financial instruments carried at fair market value and current and deferred income taxes used to calculate projected net income (loss) can vary significantly based on actual events, the Company is not able to forecast on an IFRS basis with reasonable certainty all deductions needed in order to provide an IFRS calculation of projected net income (loss). The amount of these deductions may be material and, therefore, could result in projected IFRS net income (loss) being materially less than projected Adjusted EBITDA (non-IFRS). These statements represent forward-looking information and may represent a financial outlook, and actual results may vary. See the risk and assumptions described under the headings “Forward-looking information” and “Financial Outlook and Growth Targets Assumptions” of this press release.

⁽⁴⁾The Company defines “Medium-term” as between three and five years and “long-term” as five to seven years.

Conference Call Information

Nuvei will host a conference call to discuss its third quarter 2022 financial results today, Thursday, November 3, 2022 at 8:30 am ET. Hosting the call will be Philip Fayer, Chair and CEO, and David Schwartz, CFO.

The conference call will be webcast live from the Company’s investor relations website at https://investors.nuvei.com under the “Events & Presentations” section. A replay will be available on the investor relations website following the call.

The conference call can also be accessed live over the phone by dialing 844-826-3033 (US/Canada toll-free), or 412-317-5185 (international). A replay will be available one hour after the call and can be accessed by dialing 844-512-2921 (US/Canada toll-free), or 412-317-6671 (international); the conference ID is 10171461. The replay will be available through Tuesday, November 17, 2022.

About Nuvei

Nuvei (Nasdaq: NVEI) (TSX: NVEI) is the Canadian fintech company accelerating the business of clients around the world. Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 47 markets, 150 currencies and 586 alternative payment methods, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.

For more information, visit www.nuvei.com

Non-IFRS and Other Financial Measures

Nuvei’s unaudited condensed interim consolidated financial statements have been prepared in accordance with IFRS applicable to the preparation of interim financial statements, including International Accounting Standard (“IAS”) 34, Interim Financial Reporting, as issued by the International Accounting Standards Board. The information presented in this press release includes non-IFRS financial measures, non-IFRS financial ratios and supplementary financial measures, namely Adjusted EBITDA, Adjusted EBITDA margin, Revenue at constant currency, Revenue growth at constant currency, Organic Revenue at constant currency, Organic revenue growth at constant currency, Adjusted net income, Adjusted net income per basic share, Adjusted net income per diluted share, Adjusted EBITDA less capital expenditures, Total volume, Total volume at constant currency, Total organic volume at constant currency and eCommerce volume. These measures are not recognized measures under IFRS and do not have standardized meanings prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. Rather, these measures are provided as additional information to complement IFRS measures by providing further understanding of our results of operations from our perspective. Accordingly, these measures should not be considered in isolation nor as a substitute for analysis of the Company’s financial statements reported under IFRS. These measures are used to provide investors with additional insight of our operating performance and thus highlight trends in Nuvei’s core business that may not otherwise be apparent when relying solely on IFRS measures. We also believe that securities analysts, investors and other interested parties frequently use these non-IFRS and other financial measures in the evaluation of issuers. We also use these measures in order to facilitate operating performance comparisons from period to period, to prepare annual operating budgets and forecasts and to determine components of management compensation. We believe these measures are important additional measures of our performance, primarily because they and similar measures are used widely among others in the payment technology industry as a means of evaluating a company’s underlying operating performance.

Non-IFRS Financial Measures

Revenue at constant currency: Revenue at constant currency means revenue adjusted for the impact of foreign currency exchange fluctuations. This measure helps provide insight on comparable revenue growth by removing the effect of changes in foreign currency exchange rates year-over-year. Foreign currency exchange impact in the current period is calculated using prior period quarterly average exchange rates applied to the current period foreign currency amounts.

Organic revenue at constant currency: Organic revenue at constant currency means revenue excluding the revenue attributable to acquired businesses for a period of 12 months following their acquisition and excluding revenue attributable to divested businesses, adjusted for the impact of foreign currency exchange fluctuations. Foreign currency exchange impact in the current period is calculated using prior period quarterly average exchange rates applied to the current period foreign currency amounts. This measure helps provide insight on organic and acquisition-related growth and presents useful information about comparable revenue growth.

Adjusted EBITDA: We use Adjusted EBITDA as a means to evaluate operating performance, by eliminating the impact of non-operational or non-cash items. Adjusted EBITDA is defined as net income (loss) before finance costs (recovery), finance income, depreciation and amortization, income tax expense, acquisition, integration and severance costs, share-based payments and related payroll taxes, loss (gain) on foreign currency exchange, and legal settlement and other.

Adjusted EBITDA less capital expenditures: We use Adjusted EBITDA less capital expenditures (acquisition of intangible assets and property and equipment) as a supplementary indicator of our operating performance. In the third quarter of 2022, we retrospectively modified the label of this measure from “Free cash flow” in order to clearly reflect its composition.

Non-IFRS Financial Ratios

Revenue growth at constant currency: Revenue growth at constant currency means the year-over-year change in Revenue at constant currency divided by reported revenue in the prior period. We use Revenue growth at constant currency to provide better comparability of revenue trends year-over-year, without the impact of fluctuations in foreign currency exchange rates.

Organic revenue growth at constant currency: Organic revenue growth at constant currency means the year-over-year change in Organic revenue at constant currency divided by comparable Organic revenue in the prior period. We use Organic revenue growth at constant currency to provide better comparability of revenue trends year-over-year, without the impact of acquisitions, divestitures and fluctuations in foreign currency exchanges rates.

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

Adjusted net income per basic share and per diluted share: We use Adjusted net income per basic share and per diluted share as an indicator of performance and profitability of our business on a per share basis. Adjusted net income per basic share and per diluted share means Adjusted net income less net income attributable to non-controlling interest divided by the basic and diluted weighted average number of common shares outstanding for the period. The number of share-based awards used in the diluted weighted average number of common shares outstanding in the Adjusted net income per diluted share calculation is determined using the treasury stock method as permitted under IFRS.

Supplementary Financial Measures

Non-IFRS Financial Ratios

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

Supplementary Financial Measures

Forward-Looking Information

This press release contains “forward-looking information” within the meaning of applicable securities laws, including Nuvei’s outlook on Total volume, Revenue, Revenue at constant currency and Adjusted EBITDA for the three months ending December 31, 2022 and the year ending December 31, 2022 as well as medium and long-term targets on Total volume, Revenue and Adjusted EBITDA margin. Forward-looking information is identified by the use of terms and phrases such as “may”, “would”, “should”, “could”, “expect”, “intend”, “estimate”, “anticipate”, “plan”, “foresee”, “believe”, or “continue”, the negative of these terms and similar terminology, including references to assumptions, although not all forward-looking information contains these terms and phrases. Particularly, information regarding our expectations of future results, performance, achievements, prospects or opportunities or the markets in which we operate, expectations regarding industry trends and the size and growth rates of addressable markets, our business plans and growth strategies, addressable market opportunity for our solutions, expectations regarding growth and cross-selling opportunities and intention to capture an increasing share of addressable markets, the costs and success of our sales and marketing efforts, intentions to expand existing relationships, further penetrate verticals, enter new geographical markets, expand into and further increase penetration of international markets, intentions to selectively pursue and successfully integrate acquisitions, and expected acquisition outcomes and benefits, future investments in our business and anticipated capital expenditures, our intention to continuously innovate, differentiate and enhance our platform and solutions, expected pace of ongoing legislation of regulated activities and industries, our competitive strengths and competitive position in our industry, expectations regarding our revenue, revenue mix and the revenue generation potential of our solutions, expectations regarding our margins and future profitability, our financial outlook and guidance as well as medium and long-term targets in various financial metrics, and the future impact of the COVID-19 pandemic is forward-looking information. The Russia and Ukraine conflict, including potential impacts of sanctions, may also heighten the impact of certain factors described herein.

In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events or circumstances. Forward-looking information is based on management’s beliefs and assumptions and on information currently available to management, regarding, among other things, general economic conditions and the competitive environment within our industry. See also “Financial Outlook and Growth Targets Assumptions”.

Unless otherwise indicated, forward-looking information does not give effect to the potential impact of any mergers, acquisitions, divestitures or business combinations that may be announced or closed after the date hereof. Although the forward-looking information contained herein is based upon what we believe are reasonable assumptions, investors are cautioned against placing undue reliance on this information since actual results may vary from the forward-looking information. Nuvei’s financial outlook also constitutes financial outlook within meaning of applicable securities laws and is provided for the purposes of assisting the reader in understanding management’s expectations regarding our financial performance and the reader is cautioned that it may not be appropriate for other purposes. Our medium and long-term growth targets serve as guideposts as we execute on our strategic priorities in the medium to long term and are provided for the purposes of assisting the reader in measuring progress toward management’s objectives, and the reader is cautioned that they may not be appropriate for other purposes.

risks relating to our business and industry, such as the ongoing COVID-19 pandemic, including the resulting global economic uncertainty and measures taken in response to the pandemic, and increasing inflationary pressures and interest rates;
a declining level of volume activity in certain verticals, including digital assets and cryptocurrencies, and the resulting negative impact on the demand for, and prices of, our products and services;
the rapid developments and change in our industry;
intense competition both within our industry and from other payments methods;
challenges implementing our growth strategy;
challenges to expand our product portfolio and market reach;
challenges in expanding into new geographic regions internationally and continuing our growth within our markets;
challenges in retaining existing clients, increasing sales to existing clients and attracting new clients;
managing our growth effectively;
difficulty to maintain the same rate of revenue growth as our business matures and to evaluate our future prospects;
history of net losses and additional significant investments in our business;
our level of indebtedness;
risks associated with past and future acquisitions;
challenges related to a significant number of our merchants being small-and-medium sized businesses (“SMBs”);
concentration of our revenue from payment services;
compliance with the requirements of payment networks;
challenges related to the reimbursement of chargebacks from our merchants;
decline in the use of electronic payment methods;
changes in foreign currency exchange rates, inflation, interest rates, consumer spending trends and other macroeconomic factors affecting results of operations;
loss of key personnel or difficulties hiring qualified personnel;
impairment of a significant portion of intangible assets and goodwill;
increasing fees from payment networks;
challenges related to general economic, financial market and geopolitical conditions, business cycles and credit risks of our clients;
reliance on third-party partners to sell some of our products and services;
misappropriation of end-user transaction funds by our employees;
fraud by merchants, their customers or others;
the degree of effectiveness of our risk management policies and procedures in mitigating our risk exposure;
the integration of a variety of operating systems, software, hardware, web browsers and networks in our services;
the costs and effects of pending and future litigation;
challenges to secure financing on favorable terms or at all;
challenges from seasonal fluctuations on our operating results;
changes in accounting standards;
estimates and assumptions in the application of accounting policies;
risks relating to intellectual property and technology;
risks relating to regulatory and legal proceedings;
the impact of supply chain challenges on our customers;
measures determined in accordance with IFRS may be affected by unusual, extraordinary, or non-recurring items, or by items which do not otherwise reflect operating performance, making period-to-period comparisons less relevant; and
any potential acquisitions or other strategic opportunities, some of which may be material in size or result in significant integration difficulties or expenditures, or otherwise impact our ability to achieve profitability on our intended timeline or at all.

Financial Outlook and Growth Targets Assumptions

The financial outlook for the remainder of 2022 assumes greater currency headwinds than previously expected from the stronger U.S. dollar; higher volatility and lower volume in digital assets and cryptocurrencies than previously anticipated; and the potential impact from higher inflation and rising interest rates which could increase pressure on consumer spending in the second half of the year. The updated financial outlook and specifically the Adjusted EBITDA, as well as the Adjusted EBITDA margin long-term growth target, reflect the Company’s strategy to accelerate its investment in distribution, marketing, innovation, and technology. When measured as a percentage of revenue, these expenses are expected to decrease as our investments in distribution, marketing, innovation, and technology normalize over time.

Our financial outlook and growth targets are based on a number of additional assumptions, including the following:

our results of operations and ability to achieve suitable margins will continue in line with management’s expectations,
we will continue to effectively execute against our key strategic growth priorities, without any material adverse impact from the COVID-19 pandemic on our or our merchants’ business, financial condition, financial performance, liquidity nor any significant reduction in demand for our products and services,
losses owing to business failures of merchants and customers will remain in line with anticipated levels,
existing customers growing their business and expanding into new markets within selected high-growth eCommerce and mobile end-markets, including online retail, online marketplaces, digital goods and services, regulated online gaming, social gaming, financial services and travel;
our ability to cross-sell and up-sell new and existing products and services to our existing customers with limited incremental sales and marketing expenses;
our customers increasing their daily sales, and in turn their business volume of our solutions, at growth rates at or above historical levels for the past few years;
our ability to maintain existing customer relationships and to continue to expand our customers’ use of more solutions from our Native Commerce Platform at or above historical levels for the past few years;
our ability to leverage our sales and marketing experience in capturing and serving SMBs in North America and large enterprises in Europe and enable customer base expansion by targeting large enterprises in North America, with a focus in the eCommerce and mobile commerce channels;
our sales and marketing efforts and continued investment in our direct sales team and account management driving future growth by adding new customers adopting our technology processing transactions in existing and new geographies at or above historical levels;
our ability to further leverage our broad and diversified network of distribution partners;
our ability to expand and deepen our footprint and to add new customers adopting our technology processing transactions in geographies where we have an emerging presence, such as Asia Pacific and Latin America;
our ability to expand and keep our portfolio of services technologically current through continued investment in our Native Commerce Platform and to design and deliver solutions that meet the specific and evolving needs of our customers;
our ability to maintain and/or expand our relationships with acquiring banks in North America;
our continued ability to maintain our competitiveness relative to competitors’ products or services, including as to changes in terms, conditions and pricing,
our continued ability to manage our growth effectively,
we will continue to attract and retain key talent and personnel required to achieve our plans and strategies, including sales, marketing, support and product and technology operations, in each case both domestically and internationally,
our ability to successfully identify, complete, integrate and realize the expected benefits of, acquisitions and manage the associated risks, such as the Base Commerce, Mazooma, Simplex and Paymentez acquisitions, as well as future acquisitions;
gradual recovery in macroeconomic conditions and financial markets following 2022, and absence of material adverse changes in economic conditions in our core markets, geographies and verticals,
average foreign currency exchange rates remaining at near current levels;
interest rates increasing modestly and inflation remaining in line with central bank expectations in countries where we are doing business;
the absence of adverse changes in legislative or regulatory matters,
our continued ability to upskill and modify our compliance capabilities as regulations change or as we enter new markets, such as our customer underwriting, risk management, know your customer and anti-money laundering capabilities, with minimal disruption to our customers’ businesses;
our liquidity and capital resources, including our ability to secure debt or equity financing on satisfactory terms;
the absence of adverse changes in current tax laws,
our ability to expand profit margins by reducing variable costs as a percentage of total expenses, and leveraging fixed costs with additional scale and as the issuer’s investments in, for example, direct sales and marketing normalize; and
increases in volume driving profitable revenue growth with limited additional overhead costs required, as a result of the highly scalable nature of our business model and the inherent operating leverage.

Contact:

Investors

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

‍Statements of Profit or Loss and Comprehensive Income or Loss Data

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

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

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

Consolidated Statements of Cash Flow Data(in thousands of U.S. dollars)
For the nine months ended September 30,	2022	2021
	$	$
Cash flow from operating activities
Net income	52,603	94,706
Adjustments for:
Depreciation of property and equipment	5,936	4,276
Amortization of intangible assets	73,822	60,614
Amortization of contract assets	1,425	1,585
Share-based payments	103,666	20,245
Net finance cost	7,200	9,569
Loss (gain) on foreign currency exchange	(20,415)	1,973
Income tax expense	19,836	17,381
Changes in non-cash working capital items	(17,050)	15,269
Interest paid	(15,152)	(9,559)
Interest received	4,577	117
Income taxes paid (net)	(23,295)	(14,291)
	193,153	201,885
Cash flow used in investing activities
Business acquisitions, net of cash acquired	—	(387,654)
Payment of acquisition-related contingent consideration	(2,027)	—
Acquisition of property and equipment	(8,681)	(3,564)
Acquisition of intangible assets	(25,130)	(13,963)
Decrease in other non-current assets	726	9,756
Net decrease in advances to third parties	1,884	7,924
	(33,228)	(387,501)
Cash flow from (used in) financing activities
Shares repurchased and cancelled	(109,158)	—
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

调整后 EBITDA 和调整后 EBITDA 减资本支出与净收入的调节表

(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

这些费用涉及
与我们的收购活动和融资活动相关的专业、法律、咨询、会计及其他费用和支出。截至 2022 年 9 月 30 日的三个月和九个月，这些费用分别为 280 万美元和 620 万美元（截至 2021 年 9 月 30 日的三个月和九个月分别为 70 万美元和 1050 万美元）。这些费用在销售、总务和管理费用的专业人员费项目中列报。
截至 2022 年 9 月 30 日的三个月和九个月，收购相关补偿分别为 750 万美元和 1430 万美元，截至 2021 年 9 月 30 日的三个月和九个月，收购相关补偿分别为 630 万美元。这些费用在销售、总务和管理费用的员工薪酬项目中列报。
之前收购业务的递延收购对价变化。截至 2022 年 9 月 30 日的三个月和九个月分别确认了 50 万美元和 100 万美元的收益，2021 年则为零。这些金额在销售、总务和管理费用的或有对价调整项目中列报。
截至 2022 年 9 月 30 日的三个月和九个月，离职和整合费用分别为 150 万美元和 210 万美元（截至 2021 年 9 月 30 日的三个月和九个月，离职和整合费用为 30 万美元）。这些费用在销售、总务和行政费用中列报。
这些费用是与股票期权和根据股票计划发放的其他奖励相关的确认费用，以及与股票支付直接相关的相关工资税。在截至 2022 年 9 月 30 日的三个月和九个月中，支出包括非现金股份支付 3,380 万美元和 1.037 亿美元（截至 2021 年 9 月 30 日的三个月和九个月分别为 1,120 万美元和 2,020 万美元），以及相关工资税 10 万美元（2021 年为零）。
该细目主要包括法律赔偿和相关法律费用，以及非现金收益、损失和准备金以及某些其他费用。这些费用在销售、总务和行政费用中列报。

调整后净收入、调整后每股基本净收入和每股摊薄净收入与净收入的调节表

(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
基础	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)
基础	0.43	0.44	1.43	1.26
Diluted	0.43	0.42	1.39	1.22

本细列项目涉及因收购公司和业务的收购价格调整过程以及公司控制权变更而产生的无形资产的摊销费用。
这些费用涉及
与我们的收购活动和融资活动相关的专业、法律、咨询、会计及其他费用和支出。截至 2022 年 9 月 30 日的三个月和九个月，这些费用分别为 280 万美元和 620 万美元（截至 2021 年 9 月 30 日的三个月和九个月分别为 70 万美元和 1050 万美元）。这些费用在销售、总务和管理费用的专业人员费项目中列报。
截至 2022 年 9 月 30 日的三个月和九个月，与收购相关的补偿分别为 750 万美元和 1430 万美元，截至 2021 年 9 月 30 日的三个月和九个月，分别为 630 万美元。这些费用在销售、总务和管理费用的员工薪酬项目中列报。
之前收购业务的递延收购对价变化。截至 2022 年 9 月 30 日的三个月和九个月分别确认了 50 万美元和 100 万美元的收益，2021 年则为零。这些金额在销售、总务和管理费用的或有对价调整项目中列报。
截至 2022 年 9 月 30 日的三个月和九个月，离职和整合费用分别为 150 万美元和 210 万美元（截至 2021 年 9 月 30 日的三个月和九个月，离职和整合费用为 30 万美元）。这些费用在销售、总务和行政费用中列报。
这些费用是与股票期权和根据股票计划发放的其他奖励相关的确认费用，以及与股票支付直接相关的相关工资税。在截至 2022 年 9 月 30 日的三个月和九个月中，支出包括非现金股份支付 3,380 万美元和 1.037 亿美元（截至 2021 年 9 月 30 日的三个月和九个月分别为 1,120 万美元和 2,020 万美元），以及相关工资税 10 万美元（2021 年为零）。
该细目主要包括法律赔偿和相关法律费用，以及非现金收益、损失和准备金以及某些其他费用。这些费用在销售、总务和行政费用中列报。
本细列项目反映应税调整的所得税费用，采用适用司法管辖区的税率。
在计算调整后摊薄后每股净收入时，用于摊薄已发行普通股加权平均股数的股票奖励数量是采用《国际财务报告准则》允许的库存股法确定的。

按地理区域划分的收入

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 %

按固定汇率计算的有机收入和按固定汇率计算的有机收入增长与收入的调节表

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。

截至 2021 年 9 月 30 日的三个月财务要点

总交易量⁽¹⁾从 115 亿美元增至 216 亿美元，增长 88
电子商务占总交易量的 83
收入从 9380 万美元增至 1.839 亿美元，增长 96
净收入增加了 1.059 亿美元，从净亏损 7790 万美元增至 2800 万美元
调整后息税折旧摊销前利润⁽²⁾从 4100 万美元增至 8090 万美元，增长 97
调整后净收入⁽²⁾为 6,230 万美元，而去年为 1,650 万美元
稀释后每股净收益为 0.19 美元，而净亏损为 0.88 美元
调整后摊薄后每股净收益⁽²⁾为 0.42 美元，相比之下为 0.17 美元
截至 2021 年 9 月 30 日的现金余额为 2.887 亿美元，而截至 2020 年 12 月 31 日的现金余额为 1.807 亿美元

截至 2021 年 9 月 30 日的九个月财务要点

总交易量⁽¹⁾从 293 亿美元增至 641 亿美元，增长 119
电子商务占总交易量的 85
收入从 2.603 亿美元增至 5.127 亿美元，增长 97
与净亏损 1.262 亿美元相比，净收入增加了 2.210 亿美元，达到 9,470 万美元
调整后息税折旧摊销前利润⁽²⁾从 1.117 亿美元增至 2.258 亿美元，增长 102
调整后净收入⁽²⁾为 1.780 亿美元，而去年同期为 4250 万美元
稀释后每股净收益为 0.64 美元，而每股净亏损为 1.49 美元
调整后摊薄后每股净收益⁽²⁾为 1.22 美元，而去年同期为 0.46 美元
运营活动产生的现金流从 4,900 万美元增至 2.019 亿美元。

业务要点

本季度所有四个地区的总销量⁽¹⁾均有所增长，其中北美增长 118%，欧洲、中东和非洲增长 62%，亚太地区增长 140%，拉丁美洲增长 93%。
Nuvei 增加了多种新的替代支付方式（"APM"），使公司的 APM 组合在 2021 年第三季度末增加到 500 多种，扩大了访问范围，使客户能够接受更多形式的地区熟悉和偏好的数字支付方式，以提高转换率。
公司通过 Visa Direct 实现了北美地区的支付，进一步扩大和增强了实时支付选项组合，实现了完全对账和净结算，从而简化了支付流程，提高了效率，为商户客户带来了巨大利益。
努维公司在欧洲推出了发卡业务，这是该公司的一项新业务，进一步扩大了为该地区商户客户提供产品和解决方案的能力，并带来了更多的市场机会。
Nuvei 在美国的在线游戏和体育博彩领域取得了进展，在第三季度宣布赢得了几家新客户，包括 BetMGM、888 和 SI Sportsbook（《体育画报》在美国首次涉足在线游戏和体育博彩）、Carousel Group、Triplebet/Matchbet 和 PrizePicks。另外，公司还被荷兰第一家在线赌场 Holland Casino 选为支付解决方案提供商。
努韦公司于 2021 年 9 月 1 日完成了此前宣布的对 SimplexCC Ltd. （"Simplex"）和 Paymentez LLC（"Paymentez"）的收购。(Simplex"）和 Paymentez LLC（"Paymentez"）。
通过收购Simplex，努韦公司的能力得到了扩展，可以在成熟的人工智能（AI）技术的支持下提供定制的欺诈预防和风险管理工具，从而提高转换率和流动性，简化加密货币、NFT和去中心化金融（DeFi）提供商的即时法币购买。Nuvei 打算向其所有重点垂直行业的商户提供 Simplex 的先进功能和增强型解决方案，同时向 SImplex 的客户介绍 Nuvei 的所有产品解决方案和功能。
通过收购 Paymentez，努韦公司进一步扩大了在拉丁美洲的市场份额，增强了地区处理能力，支持更多的本地支付方式，并确保公司在这一快速增长的在线商务地区为新老全球客户提供服务。
公司加强了执行领导层，在前长期首席技术官 Keith Birdsong 退休后，提拔 Max Attias 担任集团首席技术官（"CTO"），并任命金融科技行业资深人士 Guillaume Conteville 担任首席营销官，任命人力资源领导 Nikki Zinman 担任首席人事官。
2021 年 10 月 8 日，努韦公司在美国纳斯达克全球精选市场（Nasdaq Global Select Market）完成首次公开发行（IPO），共发行 345 万股次级投票权股票（包括承销商全额行使超额配售权），募集资金总额约为 4.248 亿美元。

财务展望

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

增长目标

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。

Conference Call Information

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。

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。

About Nuvei

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

非国际财务报告准则衡量标准

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。

Forward-Looking Information

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。

Contact:

Investors

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

损益表和综合损益数据

(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
基础	0.19	(0.88)	0.66	(1.49)
Diluted	0.19	(0.88)	0.64	(1.49)
Weighted average number of common shares outstanding
基础	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

调整后 EBITDA 与净收入（亏损）的调节表

(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

本细列项目代表与公司在多伦多证券交易所上市前被归类为负债的股份相关的赎回价值变化。作为多伦多证券交易所上市的一部分，这些股份被转换为股权，成为次级投票权股份。这些费用包含在财务成本中。
该细列项目与无形资产摊销费用有关，这些无形资产是在收购公司和业务的收购价格调整过程中以及在 2017 年 9 月 Nuvei 收购 Pivotal 控股有限公司所有流通股时产生的。
这些费用涉及
与我们的收购活动和融资活动相关的专业、法律、咨询、会计及其他费用和支出。截至 2021 年 9 月 30 日的三个月和九个月，这些费用分别为 70 万美元和 1,050 万美元（截至 2020 年 9 月 30 日的三个月和九个月分别为 200 万美元和 520 万美元）。这些费用在销售、总务和行政费用的专业人员费项目中列报。
收购相关补偿。截至 2021 年 9 月 30 日的三个月和九个月，这些费用为 630 万美元（截至 2020 年 9 月 30 日的三个月和九个月分别为 20 万美元和 70 万美元）。这些费用在销售、总务和行政费用的员工薪酬项目中列报。
截至 2021 年 9 月 30 日的三个月和九个月，之前收购业务的递延购买对价变化为零（截至 2020 年 9 月 30 日的三个月为零，截至 2020 年 9 月 30 日的九个月为收益 130 万美元）。
遣散费和整合费用。截至 2021 年 9 月 30 日的三个月和九个月，遣散费用为 30 万美元（截至 2020 年 9 月 30 日的三个月和九个月分别为 20 万美元和 60 万美元）。这些费用在销售、总务和行政费用中列报。
这些支出是与股票期权和根据股票计划发放的其他奖励有关的非现金支出。
该细列项目主要是指正常业务之外的法律和解和相关法律费用，以及非现金收益、损失和准备金和某些其他费用。这些费用在销售、总务和行政费用的其他细列项目中列报。
本细列项目反映应税调整的所得税费用，采用适用司法管辖区的税率。
调整后净收入是公司用来进一步评估其经营业绩的非国际财务报告准则指标。
调整后的稀释后每股净收入是以每期期末未兑现的股票奖励为基础计算的，如果这些股票奖励当时处于价内，则按完全稀释的基础计算。

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
Net increase in cash	108,012	39,354
Cash – Beginning of period	180,722	60,072
Cash – End of period	288,734	99,426

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