Payoneer Global (PAYO) Q4 2025 Earnings
How Did PAYO Stock React to Q4 2025 Earnings?
S&P 500 over the same 30 days: −8.32%.
Did PAYO Beat Earnings? Q4 2025 Results
No. Payoneer Global reported Q4 2025 earnings of $0.05 a share on Feb 26, 2026, missing the $0.07 consensus estimate by 24.6%. Revenue was $274.7M against a $282.4M estimate.
Payoneer Global posted a mixed fourth quarter, falling short on both the top and bottom lines as declining interest income weighed on results. Revenue came in at $274.69 million, up 5.0% year-over-year but trailing the $282.39 million consensus by 2.73%, while earnings per share of $0.05 missed the $0.07 estimate by 24.59%. The primary culprit was a familiar one: interest income slid 8% year-over-year in the quarter as lower rates eroded yield on $7.90 billion in customer funds, masking genuinely solid momentum in the company's core business, where revenue excluding interest grew 9% in Q4 and the B2B segment expanded 17%. The quarter capped a full year in which Payoneer crossed $1.05 billion in total revenue, and shares rallied on the company's announcement of plans to pursue a national trust bank charter to integrate stablecoin infrastructure into its payments platform. Looking ahead, management guided 2026 revenue of $1.09 billion to $1.13 billion with adjusted EBITDA of $275 million to $285 million, targeting mid-teens growth exiting the year.
- B2B SMB revenue growth of 17% YoY in Q4 and 28% for the full year
- Checkout revenue growth of 25% YoY in Q4 and 55% for the full year
- ARPU grew 15% YoY, and excluding interest income was up 21%, marking 6 consecutive quarters of 20%+ growth
- Customer funds grew 13% YoY to $7.9 billion partially offsetting interest income decline from lower rates
- Continued strength with larger customers and strategic pricing initiatives
- Growth in higher take rate B2B, Checkout and Card franchises
“Payoneer continued to support the global ambitions of our customers and delivered record results in 2025. We crossed $1 billion in annual revenue, delivered significant profitability, and generated meaningful free cash flow. We repurchased $175 million, or 8% of shares outstanding during the year, underscoring our conviction in the intrinsic value of the business and our commitment to driving long-term shareholder returns.”
Payoneer Global CEO, on the earnings call
What Was Payoneer Global's Outlook in Q4 2025?
For 2026, Payoneer guides revenue of $1,090-$1,130 million, transaction costs of ~15.0% of revenue, and adjusted EBITDA of $275-$285 million. Revenue excluding interest income is expected to be $900-$940 million, with adjusted EBITDA ex. interest of $85-$95 million, more than doubling the prior year. Guidance includes a 300 basis point estimated headwind from deliberate customer portfolio optimization efforts. The company expects to accelerate growth during the year as it executes on its upmarket strategy, targeting mid-teens growth exiting the year and beyond. The company is investing in agentic AI capabilities and stablecoin infrastructure to unlock further platform leverage.
PAYO YoY Financials
| Metric | Q4 2025 | Q4 2024 | Year over year |
|---|---|---|---|
| Revenue | $274.7M | $261.7M | +5.0% |
| Operating Income | $28.9M | $29.2M | −0.9% |
| Net Income | $19.0M | $18.2M | +4.5% |
PAYO Revenue by Segment
PAYO Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.