By Robb M. Stewart
Nuvei logged a loss for the latest quarter as the Canadian financial technology company was squeezed by currency movements and a finance cost.
Nuvei recorded a net loss of $18.1 million, or 14 cents a share, for the third quarter, compared with a year-earlier profit of $13 million, or 8 cents.
The loss included an increase in the company’s net finance cost of $23.6 million, mainly related to amounts drawn under a reducing revolving credit line, as well as a foreign-currency exchange hit of $25.6 million.
Adjusted earnings before interest, tax, depreciation and amortization increased to $110.7 million from $81.2 million last year, just ahead of the $105 million to $110 million the company forecast in August.
Revenue rose 55% to $304.9 million, in line with the $300 million to $308 million the company was targeting and the $303.2 million mean expectation of analysts polled by FactSet.
Volume–the value of transactions processed by merchants under contractual agreement–increased 72% to $48.2 billion.
Write to Robb M. Stewart at [email protected]
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