Paysafe Group remains ‘in line’ with expectations

Paysafe Group has revealed that it is on track to meet management expectations in the full year.

The trading update, which comes after the release of the firm’s half-year results in August, states that revenue should amount to between $970 million (€873.3 million) and $990 million

The payment solutions provider’s expectations for adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) remain unchanged and should total between $287 million and $293 million, with an adjusted margin of 29.6%.

Joel Leonoff, president and chief executive of Paysafe, said: “I am delighted to report that we are on track to achieve the upgraded revenue and adjusted EBITDA projections for the current financial year which we set out at the time of our half-year results in August, all while maintaining our focus on further expanding our payments business and enhancing our core technology platform.

“We remain focused on delivering innovative payment solutions that serve the evolving needs of the merchants we work with and look forward to updating the market on our FY 2016 results in early 2017.”

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