Payoneer Global (PAYO) Q2 2026 earnings summary

Executive summary

• Revenue for Q2 2026 was $274.3M, up 5% year-over-year; revenue excluding interest income grew 10% to $222.2M, driven by 15% volume growth and strong B2B acceleration.

• Net loss for Q2 2026 was $2.4M, compared to net income of $19.5M in Q2 2025.

• Adjusted EBITDA for Q2 2026 was $71.4M, up 7% year-over-year; Adjusted EBITDA excluding interest income was $19.3M, up 138%.

• Announced agreement to be acquired by Nuvei for $7.40 per share in cash, valuing the transaction at $2.75B; transaction expected to close mid-2027.

• Volume processed grew 15% year-over-year to $23.7B for the quarter.

Financial highlights

• Transaction costs decreased 7% year-over-year to $37.7M for Q2 2026; as a percentage of revenue, costs fell by 190 bps to 13.7%.

• Operating income for Q2 2026 was $16.9M, down 44% from Q2 2025.

• ARPU increased 18% year-over-year to $533, with ARPU excluding interest income up 22%.

• Cash and cash equivalents as of June 30, 2026, were $346.3M.

• Share repurchases totaled $17.6M in Q2 2026 and $90.4M in H1 2026; repurchase program suspended due to pending acquisition.

Outlook and guidance

• Management expects continued investment in platform enhancements, regulatory expansion, and customer growth.

• Financial guidance for 2026 and medium/long-term targets withdrawn due to the pending Nuvei transaction.

• The pending Nuvei merger may impact capital allocation, liquidity, and strategic initiatives until completion.

• Earnings conference calls suspended; quarterly earnings releases and SEC filings to continue until transaction completion.