Payments platform Paysafe Limited (NYSE:PSFE) today announced its financial results for the fourth quarter and full year of 2024.
Paysafe’s financial results were significantly impacted by accelerated merchant exits and associated credit losses during the fourth quarter, reflecting the Company’s strategic decision to reduce its exposure to direct marketing, a business line within the SMB portfolio of the Merchant Solutions segment. This had an unfavorable impact to fourth quarter reported revenue growth for total Paysafe and the Merchant Solutions segment of approximately 3 percentage-points and 5 percentage-points, respectively.
Total revenue for the fourth quarter of 2024 was $420.1 million, an increase of 1%, compared to $414.5 million in the prior year period. Excluding a $1.8 million headwind from movement in foreign exchange rates, revenue increased 2%.
Revenue from the Merchant Solutions segment increased 1%,…
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