Payoneer Global Inc
Q1 2026 Earnings
Market Reaction
S&P 500 over the same 30 days: +0.75%.
Did PAYO Beat Earnings? Q1 2026 Results
Payoneer Global delivered a mixed first quarter for fiscal 2026, narrowly missing Wall Street expectations on both the top and bottom lines as a headwind from declining interest income weighed on headline results. The company reported revenue of $261.60 million, up just 0.4% year over year and short of the $270.18 million consensus by 3.18%, while EPS of $0.06 fell slightly below the $0.06 estimate. The culprit was a familiar one: interest income slid 11% to $51.50 million as lower interest rates more than offset 15% growth in customer funds to $7.60 billion. Strip that out, however, and the underlying business looked considerably more resilient, with revenue excluding interest climbing 11% and B2B volume accelerating 44% year over year. Analysts maintaining buy ratings pointed to that core momentum as the more meaningful signal. Payoneer appeared to agree, raising its full-year 2026 guidance to revenue of $1.10 billion to $1.14 billion and adjusted EBITDA of $285 million to $295 million, underscoring confidence in its B2B and upmarket expansion strategy.
- 44% B2B volume growth driven by strong performance in China, EMEA and APAC
- 11% revenue ex. interest growth year-over-year
- 22% growth in ARPU excluding interest income, seventh consecutive quarter of 20%+ growth
- 1bp SMB customer take rate expansion from mix shift towards higher yield products and fee/monetization initiatives
- 28% year-over-year enterprise payouts volume growth
- 15% year-over-year customer funds growth partially offsetting lower interest rates
“In Q1 we delivered acceleration across major KPIs: revenue growth ex. interest accelerated to 11%, B2B volume growth more than doubled to 44%, and we delivered another quarter of significant core profitability expansion. We are driving broad-based momentum across our business, supported by differentiated assets that compound as we scale. We have infrastructure built on years of investment and innovation, network effects that strengthen as volumes grow, and platform depth that allows us to meet the needs of how our customers operate globally.”
Payoneer Global CEO, on the earnings call
Forward Guidance & Outlook
Payoneer raised its full-year 2026 guidance: revenue of $1,100 million to $1,140 million (comprising $900-$940 million revenue ex. interest and $200 million in interest income), transaction costs of approximately 15.0% of revenue, and adjusted EBITDA of $285 million to $295 million. Management highlighted accelerating revenue ex. interest, robust B2B growth driving take rate expansion, upmarket strategy traction with seven consecutive quarters of 20%+ ARPU ex. interest growth, and investments in stablecoin and agentic AI to support durable profitable growth.
PAYO YoY Financials
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Figures from SEC filings and company reports. Not investment advice.