Payoneer Global Inc. Stock Price, News & Analysis

Pelico, a factory operations SaaS platform, has raised $18M in funding led by 83North and Serena, aiming to enhance its technology and expand its team. The funding will support Pelico's goal to become the Operational Management System for modern factories amid rising complexity in supply chains. With prominent clients like Collins Aerospace and Safran, Pelico has demonstrated its impact by reducing logistical cycle times by 50% and parts shortages by 72%. The company plans to open 50 new positions in France and the US over the next 18 months.

Payoneer Global Inc. (NASDAQ: PAYO) reported a 30% year-over-year revenue growth for Q3 2022, reaching $158.9 million. Key metrics include a 34% increase in revenue less transaction costs, and a net loss of $26.5 million. Adjusted EBITDA rose by 108% to $12.7 million. The company raised its 2022 revenue guidance to $605-$615 million and decreased transaction costs to ~18.0% of revenue. Notably, revenue from emerging markets grew 39% year-over-year, showcasing Payoneer's expanding market share.

Payoneer Global Inc. (NASDAQ: PAYO) announced its participation in two upcoming investor conferences. The management team will present at Citi’s FinTech Conference on November 14, 2022, at 10:30 am ET, followed by Credit Suisse’s 26th Annual Technology Conference on November 29, 2022, at 10:35 am ET. Interested parties can access the webcast and replay on Payoneer’s investor relations website. As a leader in digital commerce, Payoneer enables businesses worldwide to thrive in the global economy.

Payoneer has partnered with WooCommerce to launch the Payoneer Checkout plug-in, enhancing payment solutions for small and medium-sized businesses (SMBs) in the cross-border ecommerce sector. This integration aims to simplify payment acceptance globally, allowing merchants to consolidate funds in multi-currency accounts for easier management. The DTC ecommerce market is projected to reach $212 billion by 2024, highlighting the growth potential. WooCommerce, which powers 25% of top online stores, will enable more merchants to access Payoneer's services.

Payoneer Global Inc. (NASDAQ: PAYO) will announce its third quarter 2022 financial results on November 9, 2022, after market close. A conference call and earnings webcast will follow at 4:30 p.m. Eastern Time. The event will be accessible via the Payoneer Investor Relations website. Since 2005, Payoneer has established itself as a leading partner for digital commerce, facilitating cross-border payments for businesses ranging from entrepreneurs in emerging markets to major brands like Airbnb and Amazon.

Alibaba.com has expanded its Manifest Grants Program, committing a total of $750,000 to support American small and medium-sized businesses. This initiative, conducted in partnership with organizations like Hello Alice and Indiegogo, aims to provide 50 grant recipients with $10,000 each in cash and $5,000 for logistics support. Participants will also gain access to various resources and mentoring opportunities, including a potential mentorship with Daymond John during Black Entrepreneurs Day on October 27. The program highlights Alibaba's commitment to enhancing diversity in entrepreneurship.

Payoneer (NASDAQ: PAYO) has appointed Assaf Ronen as its first Chief Platform Officer, tasked with leading the newly established Platform division combining Technology, Product, and High Value Service units. Ronen, previously Chief Product Officer at SoFi, brings extensive experience from Amazon and Microsoft. His leadership is expected to drive innovation in High Value Service offerings and enhance the Payoneer Account functionality. This strategic move aims to empower entrepreneurs and SMBs, focusing on customer-centric solutions in the evolving digital economy.