Nuvei Reports Solid Performance in Q4 And Full Year 2020

Canada-based payment technology company Nuvei Corporation (Nuvei), formerly known as Pivotal Payments, yesterday published its financial figures for the fourth quarter and the full year of 2020, ending on December 31, indicating a huge growth in revenue.

Key Financial Highlights for Q4:

Total volume came in at $13.9 billion, up 53% compared to the same period in 2019.

The company recorded $115.9 million in revenue (2019:  $79.3 million).

Adjusted EBITDA reached $51.3 million, showing an increase of 61%.

Net income per share was $0.16 compared to a net loss per share of $0.05.

Adjusted net income per diluted share of $0.33 compared to $0.06.

Key Financial Highlights for 2020:

Total volume was $43.2 billion(2019:$24.6 billion), revealing a YoY increase of 76%. 

Revenue grew 53%, to $375.0 million from $245.8 million compared to 2019.

Net loss was $103.7 million compared to a net loss of $69.5 million.

Adjusted EBITDA up 87%, to $163.0 million from $87.2 million.

Adjusted net income was $89.0 million compared to $22.3 million.

Net loss per share of $1.08 compared to a net loss per share of $1.15.

Adjusted net income per diluted share of $0.84 compared to $0.33.

Let's recall that, earlier this year, Fazzaco reported that Nuvei has completed the acquisition of Base Commerce​, LLC to bolster the company's product capabilities with a proprietary AHC processing platform as well as enlarge the company’s distribution network.