Revenue increased 18.9% year-over-year Adjusted
EBITDA rose 93.9% year-over-year
Paymentus Holdings, Inc. (“Paymentus”) (NYSE: PAY), a leading
provider of cloud-based bill payment technology and solutions,
today announced its unaudited financial results for the quarter
ended September 30, 2023.
“Paymentus reported exceptional results for the third quarter
highlighted by strong growth in revenue, contribution profit and
adjusted EBITDA with year-over-year increases of 18.9%, 20.3% and
93.9%, respectively. Demand and competitive differentiation remains
strong, reflected in our substantial backlog at quarter end, which
we believe provides us good visibility for the rest of 2023 and
well into 2024,” said Dushyant Sharma, Founder and CEO.
Third Quarter 2023 Financial and
Business Highlights
- Revenue was $152.4 million, an increase of 18.9%
year-over-year, driven largely by increased transactions.
- Gross profit was $46.9 million, an increase of 23.9%
year-over-year. Adjusted gross profit(1) was $51.3 million, up
24.9% year-over-year.
- Contribution profit(1) was $61.5 million, a year-over-year
increase of 20.3%.
- Net income was $6.4 million and GAAP earnings per share was
$0.05. Non-GAAP net income(1) was $10.9 million and non-GAAP
earnings per share(1) was $0.09. Prior year non-GAAP net income and
non-GAAP earnings per share have been recast to align with the
updated methodology described in the section "Use and Definitions
of Non-GAAP Financial Measures" below.
- Adjusted EBITDA(1) was $15.5 million for the third quarter of
2023, representing a 25.3% adjusted EBITDA margin(1), an increase
of 93.9% year-over-year.
- The Company processed 115.4 million transactions in the third
quarter of 2023, an increase of 25.2% from the third quarter of
2022.
(1) Descriptions of the non-GAAP financial measures adjusted
gross profit, contribution profit, non-GAAP net income, non-GAAP
earnings per share, adjusted EBITDA, and adjusted EBITDA margin are
provided below under “Use and Definitions of Non-GAAP Financial
Measures,” and reconciliations are provided in the tables at the
end of this release.
Financial Guidance
The statements in this section are forward-looking statements.
For additional information regarding the use and limitations of
such statements, refer to “Forward-Looking Statements” below and
the “Risk Factors” section of Paymentus’ most recent Form 10-K for
the fiscal year ended December 31, 2022 filed with the Securities
and Exchange Commission, or SEC, on March 3, 2023 and subsequent
Forms 10-Q filed with the SEC.
Fourth Quarter 2023
Fiscal-Year 2023
Revenue
$155 million to $159 million
$604.5 million to $608.5
million
Contribution Profit
$60.5 million to $62.5
million
$235 million to $237 million
Adjusted EBITDA
$12 million to $14 million
$50 million to $52 million
Paymentus does not reconcile its forward-looking guidance for
non-GAAP measures because certain financial information, the
probable significance of which cannot be determined, is not
available and cannot be reasonably estimated due to potential
variability, complexity and uncertainty as to the items that would
be excluded from the GAAP measure in the relevant future period.
Refer to “Use of Forward-Looking Non-GAAP Measures” below for
additional explanation.
Conference Call Information
In conjunction with this announcement, Paymentus will host a
conference call for investors at 5:00 p.m. ET (2:00 p.m. PT) today
to discuss third quarter 2023 results and its outlook for the
remainder of 2023. The live webcast and replay will be available at
the Investor Relations section of Paymentus’ website at
ir.paymentus.com or click here. To participate via telephone, dial
1-833-470-1428 (U.S. Toll-Free) or 1-404-975-4839 (International),
access code 158842. A replay will be available after 5:00 p.m. PT
on the same web site.
About Paymentus
Paymentus is a leading provider of cloud-based bill payment
technology and solutions for more than 1,900 billers and financial
institutions across North America. Our omni-channel platform
provides consumers with easy-to-use, flexible and secure electronic
bill payment experiences through their preferred payment channel
and type. Paymentus’ proprietary Instant Payment NetworkTM, or IPN,
extends our reach by connecting our IPN partners’ platforms and
tens of thousands of billers to our integrated billing, payment,
and reconciliation capabilities. For more information, please visit
www.paymentus.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934 and the Private
Securities Litigation Reform Act of 1995. All statements other than
statements of historical or current fact included in this press
release are forward-looking statements, including but not limited
to statements regarding demand, bookings and backlog, the
continuing competitive market momentum and growth visibility in
2023 and into 2024, our future financial performance and our
updated fourth quarter and full-year 2023 financial guidance.
Forward-looking statements include statements containing words such
as “expect,” “anticipate,” “believe,” “project,” “will” and similar
expressions intended to identify forward-looking statements.
These forward-looking statements are based on our current
expectations. Forward-looking statements involve risks and
uncertainties. Our actual results and the timing of events could
differ materially from those anticipated in such forward-looking
statements as a result of these risks and uncertainties, which
include, without limitation, risks related to our ability to
effectively manage our growth and expand our operations, including
into new channels and industry verticals across different markets;
our ability to expand and retain our biller, financial institution,
partner and consumer base; our ability to timely implement new
bookings and recognize anticipated revenue therefrom, our ability
to manage economic challenges, including inflation; the impact of
future widespread health issues on our operating results, liquidity
and financial condition and on our employees, billers, financial
institutions, partners, consumers and other key stakeholders; our
ability to remain competitive; our ability to develop new product
features and enhance our platform and brand; our future
acquisitions and strategic investments; our ability to hire and
retain experienced and talented employees; and other risks and
uncertainties included under the caption “Risk Factors” and
elsewhere in our filings with the SEC, including, without
limitation, our Annual Report on Form 10-K for the year ended
December 31, 2022, filed with the SEC on March 3, 2023, and
subsequent Quarterly Reports on Form 10-Q, including our Quarterly
Report on Form 10-Q for the quarter ended September 30, 2023, which
we expect to file with the SEC shortly after the date of this
release. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release.
All forward-looking statements are qualified in their entirety
by this cautionary statement, and we undertake no obligation to
revise or update any forward-looking statements to reflect events
or circumstances after the date hereof.
Use of Forward-Looking Non-GAAP Measures
We do not meaningfully reconcile guidance for adjusted EBITDA
and adjusted EBITDA margin, because we cannot provide guidance for
the more significant reconciling items between net income and
adjusted EBITDA without unreasonable effort. This is due to the
fact that future period non-GAAP guidance includes adjustments for
items not indicative of our core operations, which may include,
without limitation, items included in the supplemental financial
information for reconciliation of reported GAAP results to non-GAAP
results. Such items include acquisition related amortization
expense for acquired intangibles, foreign exchange gains and
losses, adjustments to our income tax provision and certain other
items we believe to be non-indicative of our ongoing operations.
Such adjustments may be affected by changes in ongoing assumptions
and judgments, as well as nonrecurring, unusual or unanticipated
charges, expenses or gains/losses or other items that may not
directly correlate to the underlying performance of our business
operations. The exact amount of these adjustments is not currently
determinable but may be significant. In addition, we do not
meaningfully reconcile guidance for contribution profit, because
the determination of contribution is subject to variables outside
our control, such as an increase in the average payment amount,
changes in the payment mix, or the payment channel used by
consumers that can influence contribution profit, and cannot be
determined without unreasonable effort, if at all.
Use and Definitions of Non-GAAP Financial Measures
In addition to disclosing financial measures in accordance with
accounting principles generally accepted in the United States, or
GAAP, this press release and the accompanying tables contain
certain non-GAAP financial measures, including adjusted gross
profit, contribution profit, non-GAAP net income (including those
amounts as a percentage of revenue), non-GAAP earnings per share,
adjusted EBITDA, adjusted EBITDA margin, non-GAAP operating expense
and free cash flow. We use non-GAAP measures to supplement
financial information presented on a GAAP basis. We believe that
excluding certain items from our GAAP results allows management and
our board of directors to more fully understand our consolidated
financial performance from period to period and helps management
project our future consolidated financial performance as forecasts
are developed at a level of detail different from that used to
prepare GAAP-based financial measures.
Adjusted gross profit is defined as gross profit adjusted
for certain non-cash items, primarily stock-based compensation and
amortization of acquisition-related intangible assets and
capitalized software development costs.
Contribution profit is defined as gross profit plus other
cost of revenue. Other cost of revenue equals cost of revenue less
interchange and assessment fees paid by us to our payment
processors. Interchange and assessment fees paid by us to our
payment processors are excluded from contribution profit because we
believe inclusion is less directly reflective of our operating
performance as we do not control the payment channel used by
consumers, which is the primary determinant of the amount of
interchange and assessment fees. We use contribution profit to
measure the amount available to fund our operations after
interchange and assessment fees, which are directly linked to the
number of transactions we process and thus our revenue and gross
profit.
Adjusted EBITDA is defined as net income before other
income (expense) (which consists of interest income (expense), net
and foreign exchange gain (loss)), depreciation and amortization of
acquisition related intangible assets and capitalized software
development costs, and income taxes, adjusted to exclude the
effects of stock-based compensation expense and certain
nonrecurring expenses that management believes are not indicative
of ongoing operations.
Adjusted EBITDA margin is defined as adjusted EBITDA as a
percentage of contribution profit.
Non-GAAP operating expense is defined as total operating
expense excluding amortization of acquisition-related intangibles,
stock-based compensation and other nonrecurring expenses.
Management believes that the adjustment of acquisition-related
intangibles amortization supplements the GAAP information with a
measure that can be used to assess the comparability of operating
performance. Although we exclude amortization from
acquisition-related intangible assets from our non-GAAP expenses,
management believes that it is important for investors to
understand that such intangible assets were recorded as part of
purchase accounting and contribute to revenue generation.
Amortization of intangible assets that relate to past acquisitions
will recur in future periods until such intangible assets have been
fully amortized. Any future acquisitions may result in the
amortization of additional intangible assets.
Non-GAAP net income and non-GAAP EPS are defined
as net income and net income per share, respectively, excluding
certain nonrecurring items such as discrete tax items, one-time
expenses or other non-cash items, including amortization of
acquisition-related intangibles. Beginning with the quarter ended
June 30, 2023, we have excluded stock-based compensation from the
calculation of our non-GAAP net income and non-GAAP EPS to be
consistent with our methodology for non-GAAP operating expenses,
which we believe enhances the understanding of our operating
performance and enables more meaningful period-to-period
comparisons. Our non-GAAP net income and non-GAAP EPS for the three
and nine months ended September 30, 2022 were recast to conform to
the updated methodology and are reflected herein for comparison
purposes.
We believe non-GAAP net income and non-GAAP EPS enhance the
understanding of our operating performance and enable more
meaningful period-to-period comparisons.
Free cash flow is defined as net cash provided by (used
in) operating activities less capital expenditures and capitalized
internal-use software development costs.
We believe these non-GAAP measures provide our investors with
useful information to help them evaluate our operating results by
facilitating an enhanced understanding of our operating performance
and enabling them to make more meaningful period-to-period
comparisons.
We use these non-GAAP measures in conjunction with GAAP measures
as part of our overall assessment of our performance and liquidity,
including the preparation of our annual operating budget and
quarterly forecasts, to evaluate the effectiveness of our business
strategies, and to communicate with our board of directors
concerning our financial performance and liquidity. There are
limitations to the use of the non-GAAP measures presented in this
press release. Our non-GAAP measures may not be comparable to
similarly titled measures of other companies; other companies,
including companies in our industry, may calculate non-GAAP
measures differently than we do, limiting the usefulness of those
measures for comparative purposes. These non-GAAP measures should
not be considered in isolation from or as a substitute for
financial measures prepared in accordance with GAAP.
We encourage investors and others to review our financial
information in its entirety, not to rely on any single financial
measure, and to view our non-GAAP measures in conjunction with GAAP
financial measures. For a reconciliation of these non-GAAP
financial measures to GAAP measures, please see the tables for the
reconciliation of GAAP to non-GAAP results included at the end of
this release.
PAYMENTUS HOLDINGS, INC.
CONDENSED CONSOLIDATED STATEMENTS
OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited)
(In thousands, except share and
per share data)
Three Months Ended September
30,
Nine Months Ended September
30,
2023
2022
2023
2022
Revenue
$
152,423
$
128,152
$
449,690
$
364,825
Cost of revenue
105,513
90,295
316,840
256,286
Gross profit
46,910
37,857
132,850
108,539
Operating expenses
Research and development
11,035
10,350
33,595
30,925
Sales and marketing
21,481
19,048
63,344
53,089
General and administrative
9,083
9,376
26,958
29,038
Total operating expenses
41,599
38,774
123,897
113,052
Income (loss) from operations
5,311
(917
)
8,953
(4,513
)
Other income (expense)
Interest income, net
1,905
504
5,003
594
Foreign exchange (loss) gain
(17
)
(28
)
(32
)
52
Income (loss) before income taxes
7,199
(441
)
13,924
(3,867
)
(Provision for) benefit from income
taxes
(822
)
(296
)
(1,004
)
2,397
Net income (loss)
$
6,377
$
(737
)
$
12,920
$
(1,470
)
Net income (loss) per share
Basic
$
0.05
$
(0.01
)
$
0.10
$
(0.01
)
Diluted
$
0.05
$
(0.01
)
$
0.10
$
(0.01
)
Weighted-average number of shares used to
compute net income per share
Basic
123,620,260
122,740,982
123,430,652
121,765,509
Diluted
125,639,879
122,740,982
124,457,360
121,765,509
Comprehensive income
Net income (loss)
6,377
(737
)
12,920
(1,470
)
Foreign currency translation adjustments,
net of tax
(64
)
(86
)
22
(235
)
Comprehensive income (loss)
$
6,313
$
(823
)
$
12,942
$
(1,705
)
PAYMENTUS HOLDINGS, INC.
CONDENSED CONSOLIDATED BALANCE
SHEETS (Unaudited)
(In thousands, except share and
per share data)
September 30,
December 31,
2023
2022
Assets
Current assets
Cash and cash equivalents
$
162,062
$
147,334
Restricted cash and cash equivalents
4,830
2,351
Accounts and other receivables, net of
allowance for expected credit losses of $234 and $370,
respectively
74,851
67,789
Income tax receivable
1,910
1,493
Prepaid expenses and other current
assets
11,415
9,994
Total current assets
255,068
228,961
Property and equipment, net
1,676
1,823
Capitalized internal-use software
development costs, net
56,488
46,032
Intangible assets, net
29,179
36,017
Goodwill
131,852
131,851
Operating lease right-of-use assets
9,596
9,561
Deferred tax asset
117
116
Other long-term assets
5,365
7,178
Total assets
$
489,341
$
461,539
Liabilities and Stockholders’
Equity
Current liabilities
Accounts payable
$
33,450
$
29,232
Accrued liabilities
18,759
15,809
Current portion of operating lease
liabilities
1,669
1,462
Contract liabilities
5,633
4,358
Income tax payable
23
635
Total current liabilities
59,534
51,496
Deferred tax liability
957
680
Operating lease liabilities, less current
portion
8,420
8,608
Contract liabilities, less current
portion
2,782
2,826
Finance leases and other finance
obligations, net of current portion
200
750
Total liabilities
71,893
64,360
Stockholders’ equity
Preferred stock, $0.0001 par value per
share, 5,000,000 shares authorized as of September 30, 2023 and
December 31, 2022, respectively; none issued and outstanding as of
September 30, 2023 and December 31, 2022, respectively
—
—
Class A common stock, $0.0001 par value
per share, 883,950,000 shares authorized as of September 30, 2023
and December 31, 2022, respectively; 20,385,106 and 19,934,331
shares issued and outstanding as of September 30, 2023 and December
31, 2022, respectively
2
2
Class B common stock, $0.0001 par value
per share, 111,050,000 shares authorized as of September 30, 2023
and December 31, 2022, respectively; 103,306,842 shares issued and
outstanding as of September 30, 2023 and December 31, 2022
10
10
Additional paid-in capital
375,094
367,767
Accumulated other comprehensive income
(loss)
—
(22
)
Retained earnings
42,342
29,422
Total stockholders’ equity
417,448
397,179
Total liabilities and stockholders'
equity
$
489,341
$
461,539
PAYMENTUS HOLDINGS, INC.
CONDENSED CONSOLIDATED STATEMENTS
OF CASH FLOWS (Unaudited)
(In thousands)
Three Months Ended September
30,
Nine Months Ended September
30,
2023
2022
2023
2022
Cash flows from operating
activities
Net income
$
6,377
$
(737
)
$
12,920
$
(1,470
)
Adjustments to reconcile net income to net
cash provided by operating activities
Depreciation and amortization
7,772
6,158
22,314
17,518
Deferred income taxes
91
(9
)
278
(3,331
)
Stock-based compensation
2,456
2,002
6,891
4,622
Non-cash lease expense
442
583
1,346
1,703
Amortization of contract asset
756
529
2,197
1,347
Provision for expected credit losses
112
32
(122
)
219
Change in operating assets and
liabilities
Accounts and other receivables
(7,806
)
(9,938
)
(6,941
)
(19,143
)
Prepaid expenses and other current and
long-term assets
(2,594
)
56
(1,797
)
(854
)
Accounts payable
2,929
(230
)
4,279
2,975
Accrued liabilities
3,297
(225
)
4,188
2,390
Operating lease liabilities
(448
)
(456
)
(1,364
)
(1,398
)
Contract liabilities
(625
)
5
1,232
80
Income taxes receivable, net of
payable
384
281
(1,034
)
485
Net cash provided by operating
activities
13,143
(1,949
)
44,387
5,143
Cash flows from investing
activities
Other intangible assets acquired
—
(125
)
—
(248
)
Purchases of property and equipment
(158
)
(368
)
(511
)
(1,163
)
Capitalized internal-use software
development costs
(8,728
)
(7,793
)
(25,339
)
(22,257
)
Net cash used in investing activities
(8,886
)
(8,286
)
(25,850
)
(23,668
)
Cash flows from financing
activities
Proceeds from exercise of stock-based
awards
234
1,167
435
1,469
Financial institution funds in-transit
—
18,276
—
44,158
Payments on other financing
obligations
—
(655
)
(1,709
)
(2,486
)
Payments on finance leases
—
(66
)
(102
)
(201
)
Net cash (used in) provided by financing
activities
234
18,722
(1,376
)
42,940
Effect of exchange rate changes on Cash
and cash equivalents and Restricted cash
(67
)
(232
)
46
(329
)
Net increase in cash, cash equivalents and
Restricted cash
4,424
8,255
17,207
24,086
Cash and cash equivalents and Restricted
cash beginning of period
162,468
217,660
149,685
201,829
Cash and cash equivalents and Restricted
cash end of period
$
166,892
$
225,915
$
166,892
$
225,915
Reconciliation of Cash and cash
equivalents and Restricted Cash:
Cash and cash equivalents at beginning of
period
159,068
158,335
147,334
168,386
Restricted cash at beginning of period
3,400
—
2,351
—
Restricted funds held for financial
institutions at beginning of period
—
59,325
—
33,443
Cash and cash equivalents and Restricted
cash at beginning of period
$
162,468
$
217,660
$
149,685
$
201,829
Cash and cash equivalents at end of
period
162,062
148,314
162,062
148,314
Restricted cash at end of period
4,830
—
4,830
—
Restricted funds held for financial
institutions at end of period
—
77,601
—
77,601
Cash and cash equivalents and Restricted
cash at end of period
$
166,892
$
225,915
$
166,892
$
225,915
PAYMENTUS HOLDINGS, INC. GAAP to Non-GAAP
Reconciliations (Unaudited) (in thousands, except percentages and
per share data)
The following tables set forth our non-GAAP financial measures
with reconciliations to the most directly comparable GAAP financial
measures.
Adjusted Gross Profit
Three Months Ended September
30,
Nine Months Ended September
30,
2023
2022
2023
2022
(in thousands)
Gross profit
$
46,910
$
37,857
$
132,850
$
108,539
Stock-based compensation
36
—
110
—
Amortization of capitalized software
development costs
3,493
2,357
9,473
6,088
Amortization of acquisition-related
intangibles
829
829
2,486
2,487
Adjusted gross profit
$
51,268
$
41,043
$
144,919
$
117,114
Contribution Profit
Three Months Ended September
30,
Nine Months Ended September
30,
2023
2022
2023
2022
(in thousands)
Gross Profit
$
46,910
$
37,857
$
132,850
$
108,539
Plus: other cost of revenue
14,583
13,277
41,764
38,704
Contribution Profit
$
61,493
$
51,134
$
174,614
$
147,243
Adjusted EBITDA and Adjusted EBITDA Margin
Three Months Ended September
30,
Nine Months Ended September
30,
2023
2022
2023
2022
(in thousands)
Net income (loss) — GAAP
$
6,377
$
(737
)
$
12,920
$
(1,470
)
Interest income, net
(1,905
)
(504
)
(5,003
)
(594
)
Provision for (benefit from) income
taxes
822
296
1,004
(2,397
)
Amortization of capitalized software
development costs
5,473
3,808
15,286
10,434
Amortization of acquisition-related
intangibles
2,095
2,015
6,359
6,077
Depreciation
204
335
669
1,015
EBITDA
$
13,066
$
5,213
$
31,235
$
13,065
Adjustments
Foreign exchange loss (gain)
17
28
32
(52
)
Stock-based compensation
2,456
2,002
6,891
4,622
Other nonrecurring expense (1)
—
769
—
769
Adjusted EBITDA
$
15,539
$
8,012
$
38,158
$
18,404
Adjusted EBITDA margin
25.3
%
15.7
%
21.9
%
12.5
%
(1) Other nonrecurring expenses consist of an estimated
liability booked in the three months ended September 30, 2022
related to the potential costs of terminating a commercial
contract.
PAYMENTUS HOLDINGS, INC. GAAP to Non-GAAP
Reconciliations (Unaudited) (in thousands, except percentages and
per share data)
Non-GAAP Operating Expenses
Three Months Ended September
30,
Nine Months Ended September
30,
2023
2022
2023
2022
(in thousands)
Operating expenses - GAAP
$
41,599
$
38,774
$
123,897
$
113,052
Stock-based compensation
(2,420
)
(2,002
)
(6,781
)
(4,622
)
Amortization of acquisition-related
intangibles
(1,266
)
(1,186
)
(3,873
)
(3,590
)
Other nonrecurring expense (1)
—
(769
)
—
(769
)
Non-GAAP operating expense
$
37,913
$
34,817
$
113,243
$
104,071
(1) Other nonrecurring expenses consist of an estimated
liability booked in the three months ended September 30, 2022
related to the potential costs of terminating a commercial
contract.
Non-GAAP Net Income & Non-GAAP EPS
Revised Methodology:
The prior year and most recent quarter non-GAAP net income and
non-GAAP earnings per share have been recast to align with the
updated methodology.
Three Months Ended September
30,
Nine Months Ended September
30,
2023
2022
2023
2022
(in thousands)
Net income (loss) — GAAP
$
6,377
$
(737
)
$
12,920
$
(1,470
)
Stock-based compensation
2,456
2,002
6,891
4,622
Amortization of acquisition-related
intangibles
2,095
2,015
6,359
6,077
Exclude discrete one-time items, net of
tax (1)
—
565
—
565
Non-GAAP net income
$
10,928
$
3,845
$
26,170
$
9,794
Weighted-average shares of common stock —
diluted
125,639,879
124,481,853
124,457,360
125,364,618
Non-GAAP earnings per share —
diluted
$
0.09
$
0.03
$
0.21
$
0.08
(1) Discrete one-time items, net of tax consist of the tax
impacted estimated liability booked in the three months ended
September 30, 2022 related to the potential costs for terminating a
commercial contract.
Previous Methodology:
The following tables set forth our non-GAAP financial measures
using the previous methodology with reconciliations to the most
directly comparable GAAP financial measures:
Three Months Ended September
30,
Nine Months Ended September
30,
2023
2022
2023
2022
(in thousands)
Net income (loss) — GAAP
$
6,377
$
(737
)
$
12,920
$
(1,470
)
Excluding amortization of
acquisition-related intangibles
2,095
2,015
6,359
6,077
Exclude discrete one-time items, net of
tax (1)
—
565
—
565
Non-GAAP net income
$
8,472
$
1,843
$
19,279
$
5,172
Weighted-average shares of common stock —
diluted
125,639,879
124,481,853
124,457,360
125,364,618
Non-GAAP earnings per share —
diluted
$
0.07
$
0.01
$
0.15
$
0.04
(1) Discrete one-time items, net of tax consist of the tax
impacted estimated liability booked in the three months ended
September 30, 2022 related to the potential costs for terminating a
commercial contract.
Free Cash Flow
Three Months Ended September
30,
Nine Months Ended September
30,
2023
2022
2023
2022
(in thousands)
Net cash (used in) provided by operating
activities
$
13,143
$
(1,949
)
$
44,387
$
5,143
Purchases of property and equipment and
software
(158
)
(368
)
(511
)
(1,163
)
Other intangible assets acquired
—
(125
)
—
(248
)
Capitalized software development costs
(8,728
)
(7,793
)
(25,339
)
(22,257
)
Free cash flow
$
4,257
$
(10,235
)
$
18,537
$
(18,525
)
Net cash used in investing activities
$
(8,886
)
$
(8,286
)
$
(25,850
)
$
(23,668
)
Net cash (used in) provided by financing
activities
$
234
$
18,722
$
(1,376
)
$
42,940
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231106108569/en/
At the Company Sanjay Kalra Chief Financial Officer
Paymentus Holdings, Inc. ir@paymentus.com
Investor Relations David Hanover paymentus@kcsa.com
Media Relations Tony Labriola tony@thinkinsideout.com
Paymentus (NYSE:PAY)
過去 株価チャート
から 8 2024 まで 9 2024
Paymentus (NYSE:PAY)
過去 株価チャート
から 9 2023 まで 9 2024