Paya Holdings Stock Price, News & Analysis

Paya recently appointed Dustin Renn as its Head of Corporate Development/M&A, signaling a strong focus on strategic acquisitions to enhance its growth. Renn, with over 20 years in fintech, is expected to lead Paya's efforts in identifying and executing accretive acquisitions. His previous experience includes senior roles at Cardlytics and Global Payments. Paya aims to leverage its technology platform, Paya Connect, to expand into new markets and verticals through effective M&A strategies.

Paya Holdings reported Q3 2020 financial results, indicating year-over-year revenue growth amid the pandemic. Payment volume increased by 7.6% to $8.7 billion, with total revenue rising 2.4% to $51.8 million. The Integrated Solutions segment rose 2.7% to $30.4 million, while Payment Services grew 1.9% to $21.4 million. Gross profit was $25.9 million, maintaining a margin of 50%. Notably, the company achieved net income of $1.6 million, a turnaround from a loss a year earlier, and an adjusted EBITDA growth of 10.7%.

Grid Dynamics Holdings reported third quarter 2020 revenue of $26.3 million, marking an 18% sequential increase but a 16% year-over-year decline. Notably, the Technology vertical contributed 48% of revenue, growing 45% year-over-year. Despite a GAAP Net Loss of $(1.1) million, Adjusted EBITDA improved to $4.2 million. The company anticipates fourth quarter revenue between $27.7 million and $28.7 million, showcasing optimism for a recovery towards pre-COVID levels.

Paya has appointed Matt Humphries as the new Head of Investor Relations, effective immediately. Humphries, previously at Manhattan Associates, will enhance communications with investors as Paya continues its public company journey.

His extensive experience in financial markets and investor relations will support Paya's growth following its recent public listing on the Nasdaq under the ticker symbol PAYA. The company processes over $30 billion in annual payment volume and serves more than 100,000 customers across various sectors.

Paya has partnered with Artis Technologies, enhancing its point-of-need lending platforms. This collaboration integrates Paya’s payment technology into the Artis Connect and Artis Credit platforms, allowing businesses to offer real-time consumer financing efficiently. The integration aims to improve operational efficiency and customer experience for businesses, particularly in sectors like home improvement that have seen increased demand during the pandemic. This partnership reflects a trend towards embedded financial services, promoting seamless payment processing.

Paya Holdings Inc. (NASDAQ: PAYA) is set to host a conference call on November 9, 2020, at 8:00 am ET to discuss its third-quarter 2020 financial results. The call will feature CEO Jeff Hack and CFO Glenn Renzulli, with a press release to precede it before market opening. Paya is a significant player in integrated payments, processing over $30 billion annually through credit/debit cards, ACH, and checks. The company serves over 100,000 customers and ranks among the top 20 payment processors in the US.

Paya, a leading integrated payments provider, has completed its merger with FinTech Acquisition Corp. III, following stockholder approval on October 15, 2020. The combined entity will operate under the name Paya Holdings Inc., trading on Nasdaq as 'PAYA' starting October 19, 2020. CEO Jeff Hack emphasized the company's growth strategy, leveraging its Paya Connect platform for integrated payments, particularly in the B2B sector. The firm has also made significant acquisitions, including The Payments Group, enhancing its service offerings to over 100,000 customers, processing over $30 billion annually.