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Payoneer Global Inc.

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
 
In millions, except per share itemsDec-31-22Dec-31-21Dec-31-20Dec-31-19Dec-31-18
   10-K10-K10-K10-KS-1/A
Revenues:  
    United States  87.455.938.769.0 
    Greater China  195.7160.6127.3103.5 
    Other  289.2254.2173.6128.0 
Total revenues  572.3470.7339.6300.5 
            Revenue growth   [+]21.6%38.6%13.0%  
Cost of goods sold  110.2101.597.094.7 
Gross profit  462.2369.2242.6205.9 
            Gross margin  80.8%78.4%71.4%68.5% 
Selling, general and administrative   [+]268.2187.9131.2111.0 
Research and development  115.080.852.334.8 
Equity in earnings  0.00.00.10.1 
Other operating expenses  80.3112.859.246.1 
EBITDA   [+]-1.4-12.2-0.114.1 
            EBITDA margin  -0.2%-2.6%0.0%4.7% 
Depreciation  8.97.27.56.1 
EBITA  -10.3-19.3-7.58.0 
            EBITA margin  -1.8%-4.1%-2.2%2.7% 
Amortization of intangibles  12.010.89.64.3 
EBIT   [+]-22.2-30.2-17.23.7 
            EBIT margin  -3.9%-6.4%-5.1%1.2% 
Interest income  23.85.02.00.5 
Other income (expense), net   [+]0.00.0-0.1-0.1 
Pre-tax income  1.6-25.2-15.34.2 
Income taxes  13.68.78.34.7 
            Tax rate  839.7%  113.1% 
Net income  -12.0-34.0-23.7-0.6 
            Net margin  -2.1%-7.2%-7.0%-0.2% 
   
Basic EPS   [+]($0.03)($0.34)($0.51)($0.02) 
Diluted EPS   [+]($0.03)($0.17)($0.51)($0.02) 
   
Shares outstanding (basic)   [+]348.0101.447.036.1 
Shares outstanding (diluted)   [+]348.0202.947.036.1 
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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