Paysafe Delivers Strong Performance in Q1 2023, with Revenue of $387.8M

Paysafe Limited, a multinational online payments company, has released its financial results for the first quarter of 2023, unveiling that the revenue during the period reached $387.8 million, increasing 5% compared to that of Q1 2022, and 7% on a constant currency basis.

The total payment volume for Q1 2023 come in at 3.8 billion, growing 8% on a yearly basis. Net loss attributable to the company was $3.8 million, plummeting from the last same period’s $1,171.2 million.

The yearly adjusted net income declined from Q1 2022’s $37.3 million to $33.1 million. And adjusted EBITDA reached $107.8 million, up 4% year-over-year and 5% on a constant currency basis.

"We kicked off 2023 by delivering our strongest quarterly revenue since going public. We are confident in maintaining our full year outlook and remain very pleased with the progress of our sales transformation initiative, which is driving cross-selling and higher value client wins," commented Bruce Lowthers, CEO of Paysafe.

In the full year of 2022, Paysafe has generated total revenue of $1,496.1 million​, an increase of 1%, compared to $1,487.0 million in 2021. Net loss attributable to the company for the year was $1,862.7 million, compared to a net loss of $111.0 million in the prior year.