Payoneer Reports Robust Q1 2025 Results with Strong Growth and Continued Profitability

Payoneer (NASDAQ: PAYO), a global fintech platform dedicated to helping small and medium-sized businesses (SMBs) grow internationally, has announced its financial results for the first quarter ended March 31, 2025. The company reported robust revenue growth and sustained profitability, reinforcing its strategic position in the rapidly evolving global payments landscape.

In Q1 2025, Payoneer reported a 16% year-over-year increase in revenue excluding interest income, reaching $188.6 million. This growth was primarily driven by its expanding B2B customer base and increased adoption of its Card product. Total revenue, including interest income, stood at $246.6 million—an 8% rise compared to the same period last year.

The company’s adjusted EBITDA came in at $65.4 million, maintaining a strong 27% margin. This performance underscores Payoneer’s disciplined execution strategy and focus on sustainable profitability.

Operational highlights for the quarter included a 7% year-over-year increase in total volume, which rose to $19.7 billion. The number of active Ideal Customer Profiles also grew by 5%, reaching 556,000. The company’s overall take rate stood at 125 basis points, with SMB-specific take rates increasing 11 basis points to 119 basis points year-over-year.

SMBs remained the core growth engine for Payoneer in Q1 2025, generating $170 million in revenue—an 18% year-over-year increase. Within this segment, marketplace SMB revenue rose by 8%, B2B SMB revenue surged by 37%, and Merchant Services (Checkout) revenue experienced a remarkable 96% growth. Additionally, spending on Payoneer-issued cards reached $1.4 billion, reflecting a 29% increase compared to Q1 2024, with growth seen across all operating regions. Customer funds held by the platform totaled $6.6 billion as of March 31, 2025, marking an 11% increase year-over-year.

John Caplan, CEO of Payoneer, attributed the strong performance to the company’s focus on high-value products, strategic global positioning, and disciplined financial execution. “Payoneer delivered another solid quarter, driven by strong ARPU growth, increasing adoption of our high-value products, focus on quality customers, and continued profitability,” Caplan stated. “We also extended our regulatory advantage by becoming the third foreign company licensed as a payment service provider in China, highlighting our commitment to complex, high-potential markets.”

Caplan emphasized Payoneer’s vision of enabling global trade and supporting cross-border SMBs. “As supply chains shift and global workforces expand, we’re positioning ourselves to capture the upside. We are building the financial stack for the next generation of borderless SMBs and serving as their long-term growth partner.”

In a strategic move to bolster its regulatory and operational presence in Asia, Payoneer completed the acquisition of Easylink Payment Co., Ltd., a licensed payment service provider based in China. This acquisition enhances Payoneer’s ability to support Chinese businesses seeking to expand into global markets.

Despite a strong first quarter, Payoneer is suspending its previously issued full-year 2025 guidance due to global economic uncertainties. Bea Ordonez, Chief Financial Officer, acknowledged the unpredictable macroeconomic environment and emphasized the company’s continued commitment to its long-term strategy. “While we delivered 16% growth in revenue excluding interest income and sustained profitability, the global environment remains volatile. We are focused on supporting our diverse customer base and ensuring we’re positioned to navigate this dynamic landscape.”

Ordonez added that the company remains confident in its core thesis: enabling SMBs and entrepreneurs to thrive through a comprehensive and differentiated financial infrastructure.

As Payoneer continues to expand its global footprint and strengthen its fintech ecosystem, it remains committed to serving the complex needs of international businesses operating in today’s fast-changing digital economy.

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