Payoneer Global Inc. Files Q3 2024 10-Q Report
Ticker: PAYO · Form: 10-Q · Filed: Nov 5, 2024 · CIK: 1845815
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
Payoneer's Q3 2024 10-Q is in. Check financials.
AI Summary
Payoneer Global Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter. Key financial figures and disclosures regarding their business operations are presented in this report.
Why It Matters
This 10-Q filing provides investors and analysts with a detailed look into Payoneer's financial health and operational performance during the third quarter of 2024, influencing investment decisions.
Risk Assessment
Risk Level: medium — 10-Q filings are standard financial reports, but the specific details within can reveal significant financial health indicators or operational risks.
Key Numbers
- Q3 2024 — Reporting Period (The third quarter of 2024 financial results are detailed.)
- 1231 — Fiscal Year End (Indicates the end of the company's fiscal year.)
Key Players & Entities
- Payoneer Global Inc. (company) — Filer of the 10-Q report
- 20240930 (date) — End of the reporting period
- 20241105 (date) — Filing date of the report
- New York (location) — Business and mailing address city
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended September 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on November 5, 2024.
What is the company's Central Index Key (CIK)?
The Central Index Key for Payoneer Global Inc. is 0001845815.
What is the company's former name?
The former company name was New Starship Parent, Inc.
What is the fiscal year end for Payoneer Global Inc.?
The fiscal year end for Payoneer Global Inc. is December 31.
Filing Stats: 4,414 words · 18 min read · ~15 pages · Grade level 17.3 · Accepted 2024-11-05 16:05:46
Key Financial Figures
- $0.01 — ch registered Common Stock, par value $0.01 per share PAYO The Nasdaq Stock Mar
Filing Documents
- payo-20240930x10q.htm (10-Q) — 2123KB
- payo-20240930xex31d1.htm (EX-31.1) — 13KB
- payo-20240930xex31d2.htm (EX-31.2) — 13KB
- payo-20240930xex32d1.htm (EX-32.1) — 7KB
- payo-20240930xex32d2.htm (EX-32.2) — 6KB
- payo-20240930x10q001.jpg (GRAPHIC) — 13KB
- 0001558370-24-014423.txt ( ) — 9793KB
- payo-20240930.xsd (EX-101.SCH) — 74KB
- payo-20240930_cal.xml (EX-101.CAL) — 96KB
- payo-20240930_def.xml (EX-101.DEF) — 244KB
- payo-20240930_lab.xml (EX-101.LAB) — 592KB
- payo-20240930_pre.xml (EX-101.PRE) — 434KB
- payo-20240930x10q_htm.xml (XML) — 1804KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION 4
Financial Statements (Unaudited)
Item 1. Financial Statements (Unaudited) 4 Condensed consolidated balance sheets (Unaudited) 5 Condensed consolidated statements of comprehensive income (Unaudited) 6 Condensed consolidated statements of changes in shareholders' equity (Unaudited) 7 Condensed consolidated statements of cash flows (Unaudited) 9 Notes to the condensed consolidated financial statements (Unaudited) 11
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 28
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 36
Controls and Procedures
Item 4. Controls and Procedures 37
- OTHER INFORMATION
PART II. - OTHER INFORMATION 38
Legal Proceedings
Item 1. Legal Proceedings 38
Risk Factors
Item 1A. Risk Factors 38
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 38
Defaults upon Senior Securities
Item 3. Defaults upon Senior Securities 38
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 39
Other Information
Item 5. Other Information 39
Exhibits
Item 6. Exhibits 39
Signatures
Signatures 40 2 Table of Contents CAUTIONARY STATEMENT ON FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q, including the information incorporated herein by reference, contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements are typically identified by words such as "anticipate," "appear," "approximate," "believe," "continue," "could," "estimate," "expect," "foresee," "intends," "may," "might," "plan," "possible," "potential," "predict," "project," "seek," "should," "would" and other similar words and expressions (or the negative version of such words or expressions), but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements are based on the current expectations of Payoneer's management and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to: (1) changes in applicable laws or regulations; (2) the possibility that Payoneer may be adversely affected by geopolitical events and conflicts, such as Israel's ongoing conflicts in the region, and other economic, business and/or competitive factors; (3) changes in the assumptions underlying our financial estimates; (4) the outcome of any known and/or unknown legal or
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION PAYONEER GLOBAL INC. QUARTERLY REPORT FOR THE PERIOD ENDED SEPTEMBER 30, 2024 TABLE OF CONTENTS Page Condensed consolidated financial statements (unaudited) in thousands of U.S. dollars: Condensed consolidated balance sheets (Unaudited) 5 Condensed consolidated statements of comprehensive income (Unaudited) 6 Condensed consolidated statements of changes in shareholders' equity (Unaudited) 7 Condensed consolidated statements of cash flows (Unaudited) 9 Notes to condensed consolidated financial statements (Unaudited) 11 4 Table of Contents PAYONEER GLOBAL INC. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) U.S. DOLLARS IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA September 30, December 31, 2024 2023 Assets: Current assets: Cash and cash equivalents $ 534,170 $ 617,022 Restricted cash 4,994 7,030 Customer funds 5,560,767 6,390,526 Accounts receivable (net of allowance of $ 407 at September 30, 2024 and $ 385 at December 31, 2023) 13,529 7,980 Capital advance receivables (net of allowance of $ 6,094 at September 30, 2024 and $ 5,059 at December 31, 2023) 56,948 45,493 Other current assets 78,880 40,672 Total current assets 6,249,288 7,108,723 Non-current assets: Property, equipment and software, net 14,469 15,499 Goodwill 76,094 19,889 Intangible assets, net 99,915 76,266 Customer funds 525,000 — Restricted cash 16,848 5,780 Deferred taxes 29,556 15,291 Severance pay fund 828 840 Operating lease right-of-use assets 21,585 24,854 Other assets 17,591 15,977 Total assets $ 7,051,174 $ 7,283,119 Liabilities and shareholders' equity: Current liabilities: Trade payables $ 45,118 $ 33,941 Outstanding operating balances 6,085,767 6,390,526 Short-term debt from related party (refer to Notes 12 and 21 for further information) 13,219 — Other payables 118,482 117,508 Total current liabilit