Payoneer Global Inc. has reported its financial results for the fourth quarter and full year of 2025, showcasing a 14% increase in revenue ex. interest, including a substantial 28% growth in business-to-business (B2B) revenue. The company's revenue ex. interest income for the fourth quarter of 2025 was $218.9 million, reflecting a 9% year-over-year increase from $201.1 million in the same period in 2024. The full-year revenue ex. interest income for 2025 amounted to $821.2 million, marking a 14% increase from the previous year's $720.9 million.
Despite a decline in interest income, the company's net income for the fourth quarter of 2025 was $19.0 million, up 5% from the same period in 2024. However, the full-year net income for 2025 decreased by 40% to $73.2 million from $121.2 million in 2024. Adjusted EBITDA for the fourth quarter of 2025 was $68.5 million, showing an 8% increase from the previous year. The full-year adjusted EBITDA for 2025 was relatively flat at $271.7 million compared to $270.6 million in 2024.
In terms of operational metrics, the volume for the fourth quarter of 2025 was $24.8 billion, up 10% from the same period in 2024. The active Ideal Customer Profiles (ICPs) decreased by 4% year-over-year to 536,000. The average revenue per user (ARPU) for the fourth quarter of 2025 was $488, reflecting a 15% increase from the same period in 2024.
Looking at the full year, the company achieved several milestones, including reaching $1 billion in annual revenue and delivering significant profitability. Payoneer also repurchased $175 million, or 8% of shares outstanding during the year, indicating a commitment to driving long-term shareholder returns.
In terms of the outlook for 2026, Payoneer expects to deliver $900-940 million in revenue ex. interest and $85-95 million of adjusted EBITDA ex. interest. The company is focused on optimizing its customer portfolio and anticipates a 300 basis point estimated headwind related to those efforts.
In addition to its financial performance, the company has also made strategic moves, such as the acquisition of Boundless, receiving authorization as a payment aggregator-cross border (PA-CB) in India, and plans to launch stablecoin capabilities embedded within the Payoneer platform.
The market has reacted to these announcements by moving the company's shares -0.18% to a price of $5.39. For the full picture, make sure to review Payoneer Global's 8-K report.
