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Nuvei (NVEI) investor relations material

Nuvei Q3 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2024 earnings summary11 Nov, 2024

Executive summary

  • Total volume grew 27% year-over-year to $61.3B in Q3 2024; revenue up 17% to $357.6M, reflecting rapid business scaling and global expansion investments.

  • Net income turned positive at $17.2M from a net loss of $18.1M in Q3 2023; adjusted EBITDA decreased 2% to $108.8M.

  • Pending take-private transaction by Advent International at $34/share, valuing Nuvei at $6.3B, is expected to close in Q4 2024.

  • Over 300 new roles being added across product, technology, and commercial teams to support growth.

Financial highlights

  • Q3 2024 revenue: $357.6M (+17% YoY); nine-month revenue: $1,038.2M (+20% YoY).

  • Q3 net income: $17.2M (vs. $-18.1M YoY); nine-month net income: $17.8M (vs. $-14.8M YoY).

  • Adjusted EBITDA for Q3: $108.8M (-2% YoY); nine months: $340.4M (+7% YoY).

  • Adjusted net income per diluted share for Q3: $0.34 (-13% YoY); nine months: $1.16 (-4% YoY).

  • Cash dividends declared YTD: $42.3M; additional $0.10/share dividend authorized, subject to transaction timing.

Outlook and guidance

  • No financial outlook or growth targets provided due to the pending take-private transaction.

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Frequently asked questions

Nuvei Corporation is a global provider of payments technology to merchants, offering solutions to businesses worldwide. The company provides unmatched approval rates and access to more than 400 payment methods in over 150 currencies. Nuvei leverages proprietary artificial intelligence and machine learning technology, incorporating dynamic currency conversion, multi-country pricing and dynamic payment routing through their end-to-end platform. Nuvei Corporation was founded in 2003 and is headquartered in Montreal, Canada.

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