Nuvei Stock Price, News & Analysis

Nuvei (Nasdaq: NVEI) has secured all necessary regulatory approvals for its previously announced going-private transaction through a plan of arrangement with Neon Maple Purchaser Inc., an entity formed by Advent International. The arrangement includes participation from Philip Fayer, investment funds managed by Novacap Management Inc., and CDPQ. The transaction, which received shareholder approval on June 18, 2024, and court approval on June 20, 2024, is expected to close around November 15, 2024.

Nuvei (NVEI) reported strong Q3 2024 financial results with total volume increasing 27% to $61.3 billion and revenue growing 17% to $357.6 million year-over-year. The company posted net income of $17.2 million, compared to a net loss of $18.1 million in the previous year. However, Adjusted EBITDA decreased 2% to $108.8 million, and Adjusted net income fell 8% to $52.3 million. The company is proceeding with its previously announced take-private transaction by Advent International, valued at approximately $6.3 billion or $34.00 per share, expected to close in Q4 2024. A quarterly dividend of $0.10 per share was declared, payable December 12, 2024.

Nuvei (Nasdaq: NVEI) (TSX: NVEI) has been named Payment Service Provider of the Year for the 2024 American Gambling Awards, produced by Gambling.com Group (Nasdaq: GAMB). This accolade highlights Nuvei's leadership in iGaming payment solutions and its commitment to empowering operators in the regulated U.S. online gambling industry.

With over 20 years of expertise, Nuvei offers innovative payment solutions tailored to the highly regulated U.S. market, connecting operators to over 200 local acquirers and more than 700 alternative payment methods. The company's services address critical challenges such as regulatory compliance and optimization of player engagement.

Nuvei's adoption of Open Banking through its Instant Bank Transfer platform, powered by Clearing House's RTP Network, showcases its commitment to addressing key operator payment challenges, including speed, reliability, and user experience.

Nuvei (Nasdaq: NVEI) (TSX: NVEI) has partnered with BigCommerce (Nasdaq: BIGC) to provide comprehensive omnichannel payment solutions to BigCommerce customers through its Nuvei for Platforms solution. The partnership, launching across North America, Europe, and APAC, offers a suite of services including payment acceptance, pre-authorization, refund management, advanced 3DS2 technology, multi-currency support, and embedded checkout integration.

Benefits for BigCommerce brands and retailers include bank-agnostic fast settlements, access to alternative payment methods, centralized payment management, and dedicated integration support. The collaboration aims to streamline operations, cater to diverse customer preferences, and optimize payment processing costs with same-day or next-day funding options.

JCB and Nuvei have expanded their global partnership to include Singapore and Hong Kong, enabling businesses in these markets to accept payments by JCB credit and debit cards through their existing Nuvei integration. This expansion builds on Nuvei's existing relationship with JCB in Europe, strengthening Nuvei's position in the rapidly growing Asia-Pacific (APAC) eCommerce market.

Key points:

• Nuvei now offers JCB acceptance to its global merchant ecosystem
• JCB's 158 million cardmembers can pay directly to online businesses integrated with Nuvei
• Nuvei is a fully licensed direct local acquirer in Singapore and Hong Kong
• Singapore's eCommerce market is predicted to grow at a CAGR of nearly 10%, reaching US$23.5 billion by 2027
• Hong Kong's eCommerce market is projected to grow at a CAGR of nearly 9%, exceeding US$7 billion by 2029

Nuvei (Nasdaq: NVEI) (TSX: NVEI) has announced new features and enhancements for its Nuvei for Platforms product. The upgrades aim to accelerate growth and drive revenue for various business models, including marketplaces, commerce platforms, and payment facilitators. Key features include:

1. Decoupled pay-ins and payouts for greater flexibility in managing cash flow and expanding geographic reach.
2. Split Payments for automatic transaction splitting and PSD2 compliance.
3. Auto Reconciliation to simplify accounting and operations.
4. Enhanced Balance Management and Seller Invoicing capabilities.

The Embedded Payments market is projected to grow from $83bn in 2023 to $730bn by 2032, presenting significant revenue opportunities for Nuvei. The company also recently acquired marketplace technology provider Payaut to further support innovation in the payments space.

Nuvei (Nasdaq: NVEI) (TSX: NVEI), a Canadian fintech company, has released its third annual Environmental, Social and Governance (ESG) Report for 2023. The report highlights Nuvei's ongoing achievements across key ESG pillars and its commitment to being a people-first, technology-led global payments platform.

Key 2023 ESG achievements include:

• Integrating ESG Materiality Assessment results into long-term strategy
• Establishing a formal ESG Policy
• Conducting and implementing results from a companywide team member engagement survey
• Creating a Team Member Resource Group, OneNuvei, with sub-groups for DE&I, Wellness, and Global Collaboration
• Meeting the goal of 30% women representation on the Board
• Assessing GHG emissions to understand environmental impact

The report aligns with SASB Technology and Communications standards and UN Sustainable Development Goals.

Nuvei (Nasdaq: NVEI) published its third annual ESG Report for 2023, outlining progress across governance, information security, team member wellbeing, community contributions and environmental stewardship.

Key disclosures include a formal ESG Policy, results from an inaugural ESG Materiality Assessment, a companywide team member engagement survey and the launch of the OneNuvei team member resource group with DE&I, Whole Person Wellness and Global Collaboration subgroups. The company also reported meeting its Board Diversity Policy target of ≥30% women on the board by fiscal 2023 and completing a GHG inventory assessment. Report data aligns with SASB technology standards and the UN SDGs.

Nuvei (Nasdaq: NVEI) (TSX: NVEI) has partnered with Scanco Software, to enhance Scanco's new Invoice2Payment (i2PAY) solution. This collaboration integrates Nuvei's advanced B2B payment capabilities into Scanco's warehouse management software, offering features like online payment processing, email receipts, automated deposits, and analytics. The partnership aims to streamline operations, improve financial visibility, and shorten invoice-to-cash cycles for Scanco's customers in the manufacturing and distribution industries.

Nuvei's ERP payments engine will provide seamlessly integrated payment acceptance and disbursement solutions, along with single-view visibility of data and insights. This integration will help Scanco customers reconcile financial information across systems more efficiently and support Scanco's goal of developing an Autonomous Supply Chain platform.