Nuvei releases financial results for 2021 revenue up 93

Nuvei Corporation’s revenue almost doubled in the 12 months ending 31 December 2021, with the payments company’s share price rising 11% after releasing its financial results

Nuvei Corporation’s revenue almost doubled inwards the 12 months termination 31 December 2021, with the payments company’s divvy up cost rising 11% after releasing its financial results.

With a mark of electropositive results crossways the board, the companionship attributed a warm 2021 to a combining of “product innovation, growth with existing customers, attracting new customers and acquisitions.”

The tote up value of payments processed past Nuvei, which partners with 50,000 businesses worldwide, reached $95.6bn. This inwards itself represented a $52bn, or 121%, growth compared with the previous year.

Nuvei also proclaimed revenue of $725m, which represented an step-up of $348m, or 93% year-on-year; familiarized EBITDA was reported at $317m, representing an growth of $154m, or 95% compared with 2020, and adjusted net income of $249m, an increase of $160m or 179% year-on-year.

The companionship also saw its cash in reserves growth during the period, double to $290m from $145m.

Philip Fayer, CEO & Chairman, Nuvei, commented: “Our team delivered an fantabulous quarter in which we exceeded our financial outlook, capping cancelled an exceptional year. We have made tremendous forward motion patch investment inwards our flexible, scalable, modular engineering platform to computer address the rapidly evolving world(a) and local needs of our customers.

“As our addressable market place increases, 4 pillars underpin our flight and remain central to our strategic priorities inwards driving the futurity of commerce: product innovation, ontogeny with existing customers, attracting unexampled customers, and acquisitions. These put down the substructure for us to build on our impulse which is reflected inwards the financial outlook.”

Nuvei also released its financial results for Q4 2021, which followed a similar pattern to those of its replete(p) year.

Total intensity of payments amounted to $31.5bn, increasing by 127%; revenue reached $212m, up past 83%; adjusted Earnings Before Interest Taxes Depreciation and Amortization increased to $92m, upwardly by 78% and familiarized network income stood at $71m, an increase of 52%.

Included among its in operation(p) highlights was the gain of 75 employees, expanding capabilities in the LatAm and UAE regions and securing licences inward Hong Kong and Singapore.