PayPal Holdings, Inc. Files 2024 10-K

TL;DR

PYPL filed its 2024 10-K. Full financials and risks disclosed.

AI Summary

PayPal Holdings, Inc. filed its 2024 10-K on February 4, 2025, detailing its financial performance for the fiscal year ending December 31, 2024. The filing provides a comprehensive overview of the company's operations, financial condition, and risk factors. Key financial data and disclosures are presented for investors and stakeholders.

Why It Matters

This 10-K filing provides crucial insights into PayPal's financial health and strategic direction for the past fiscal year, impacting investor decisions and market perception.

Risk Assessment

Risk Level: medium — 10-K filings inherently contain forward-looking statements and risk factors that can significantly impact a company's future performance.

Key Players & Entities

• PayPal Holdings, Inc. (company) — Filer of the 10-K
• 20241231 (date) — Fiscal year end
• 20250204 (date) — Filing date
• 2211 NORTH FIRST STREET (address) — Company business and mail address
• SAN JOSE (location) — Company city
• CA (location) — Company state
• 95131 (zip_code) — Company zip code
• (408) 967-1000 (phone_number) — Company phone number

FAQ

Key Financial Figures

• $0.0001 — ange on which registered Common stock, $0.0001 par value per share PYPL NASDAQ Global
• $1.68 — ORMANCE METRICS In 2024, we processed $1.68 trillion of total payment volume ("TPV"

Filing Documents

• pypl-20241231.htm (10-K) — 3373KB
• exhibit1018amendmentandres.htm (EX-10.18) — 1296KB
• exhibit1020deedofamendment.htm (EX-10.20) — 92KB
• exhibit1021deedofamendment.htm (EX-10.21) — 74KB
• a2025independentdirectorco.htm (EX-10.27) — 31KB
• exhibit1901-2025insidertra.htm (EX-19.01) — 105KB
• exhibit2101subsidiarylistf.htm (EX-21.01) — 10KB
• consentletterfy2024.htm (EX-23.01) — 2KB
• exhibit3101ceoq42024.htm (EX-31.01) — 9KB
• exhibit3102cfoq42024.htm (EX-31.02) — 9KB
• exhibit3201ceoq42024.htm (EX-32.01) — 5KB
• exhibit3202cfoq42024.htm (EX-32.02) — 5KB
• exhibit9701paypalholdingsi.htm (EX-97.01) — 35KB
• pypl-20241231_g1.jpg (GRAPHIC) — 38KB
• pypl-20241231_g10.jpg (GRAPHIC) — 28KB
• pypl-20241231_g11.jpg (GRAPHIC) — 32KB
• pypl-20241231_g12.jpg (GRAPHIC) — 29KB
• pypl-20241231_g13.jpg (GRAPHIC) — 27KB
• pypl-20241231_g2.jpg (GRAPHIC) — 81KB
• pypl-20241231_g3.jpg (GRAPHIC) — 52KB
• pypl-20241231_g4.jpg (GRAPHIC) — 16KB
• pypl-20241231_g5.jpg (GRAPHIC) — 23KB
• pypl-20241231_g6.jpg (GRAPHIC) — 21KB
• pypl-20241231_g7.jpg (GRAPHIC) — 30KB
• pypl-20241231_g8.jpg (GRAPHIC) — 43KB
• pypl-20241231_g9.jpg (GRAPHIC) — 30KB
• 0001633917-25-000019.txt ( ) — 22487KB
• pypl-20241231.xsd (EX-101.SCH) — 114KB
• pypl-20241231_cal.xml (EX-101.CAL) — 207KB
• pypl-20241231_def.xml (EX-101.DEF) — 619KB
• pypl-20241231_lab.xml (EX-101.LAB) — 1355KB
• pypl-20241231_pre.xml (EX-101.PRE) — 1029KB
• pypl-20241231_htm.xml (XML) — 4031KB

Risk Factors

Item 1A. Risk Factors 14

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 29 Item 1C. Cybersecurity 29

Properties

Item 2. Properties 30

Legal Proceedings

Item 3. Legal Proceedings 31

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 31 Part II

Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities 31

[Reserved]

Item 6. [Reserved] 32

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 32

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 50

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 52

Changes in and Disagreements With Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 52

Controls and Procedures

Item 9A. Controls and Procedures 52

Other Information

Item 9B. Other Information 53

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 53 Part III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 53

Executive Compensation

Item 11. Executive Compensation 53

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 53

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 53

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 54 Part IV

Exhibits, Financial Statement Schedules

Item 15. Exhibits, Financial Statement Schedules 55

Form 10-K Summary

Item 16. Form 10-K Summary 121 Trademarks, Trade Names and Service Marks PayPal owns or has rights to use the trademarks, service marks, and trade names that it uses in conjunction with the operation of its business. Some of the more important trademarks that PayPal owns or has rights to use that appear in this Annual Report on Form 10-K include: PayPal , PayPal Credit , Braintree, Venmo, Xoom, Zettle, Hyperwallet, Honey, and Paidy, which may be registered or trademarked in the United States and other jurisdictions. PayPal's rights to some of these trademarks may be limited to select markets. This report may contain additional trade names and trademarks of other companies. The use or display of other companies' trade names or trademarks does not imply our endorsement or sponsorship of, or a relationship with these companies. Table of Contents PART I

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K ("Form 10-K") contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements that involve expectations, plans or intentions (such as those relating to future business, future results of operations or financial condition, new or planned features or services, mergers or acquisitions, or management strategies). These forward-looking statements can be identified by words such as "may," "will," "would," "should," "could," "expect," "anticipate," "believe," "estimate," "intend," "continue," "strategy," "future," "opportunity," "plan," "project," "forecast," and other similar expressions. These forward-looking statements involve risks and uncertainties that could cause our actual results and financial condition to differ materially from those expressed or implied in our forward-looking statements. Such risks and uncertainties include, among others, those discussed in "Item 1A. Risk Factors" of this Form 10-K, as well as in our consolidated financial statements, related notes, and the other information appearing in this report and our other filings with the Securities and Exchange Commission ("SEC"). We do not intend, and undertake no obligation except as required by law, to update any of our forward-looking statements after the date of this report to reflect actual results, new information, or future events or circumstances. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. You should read the information in this report in conjunction with the audited consolidated financial statements and the related notes that appear in this report.

BUSINESS

ITEM 1. BUSINESS OVERVIEW At PayPal Holdings, Inc., our mission is to revolutionize commerce globally. Our products are designed to enable digital payments and simplify commerce experiences for consumers and merchants to make selling, shopping, and sending and receiving money simple, personalized, and secure, online or offline, including mobile. Our two-sided platform serves millions of consumers and merchants worldwide. We help consumers transact quickly and securely with merchants, manage their financial lives, and send to and receive money from friends and family around the globe. We provide consumers with a digital wallet that enables them to send payments to merchants securely using a variety of funding sources, which may include a bank account, a PayPal or Venmo account balance, our consumer credit products, a credit card, a debit card, certain cryptocurrencies, or other stored value products such as gift cards, and eligible rewards. We help merchants connect with customers, increase conversion rates and sales, and grow their businesses in the markets where our services are available. We provide large enterprises and small and medium businesses with online branded checkout solutions, including PayPal and Venmo; online unbranded payments processing, including Braintree and PayPal Complete Payments; our buy now, pay later solutions, which we refer to as PayPal Pay Later; in-person point of sale systems, including Zettle; business financing, including PayPal Working Capital ("PPWC") and PayPal Business Loan ("PPBL"); payouts capabilities; and risk tools. We operate a global, two-sided network at scale that connects consumers and merchants with 434 million active accounts across approximately 200 markets as of December 31, 2024. We earn revenues primarily by charging fees for completing payment transactions for our customers and other payment-related services, which are typically based on the volume of activity processed on our payments platform. We al

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View this 10-K filing on SEC EDGAR