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Midas Edge

Payoneer Global Inc

For the period ended Dec 31, 2023. Filed Feb 28, 2024.

View on SEC.gov

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 28, 2024

PAYO$7.16+0.1%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated statements of comprehensive income (loss

U.S. DOLLARS IN THOUSANDS, EXCEPT SHARE AND PER SHARE DATA

​​​​​​​​​​
​Year ended December 31
​202320222021
​​​​​​​​​​
Revenues​$831,103​$627,623​$473,403
​​​​​​​​​​
Transaction costs (Exclusive of depreciation and amortization shown separately below and inclusive of $1,781, $1,491, and $220 interest expense and fees associated with related party transactions in 2023, 2022, and 2021 respectively, refer to Notes 11 and 22 for further information)​122,291​110,165​101,476
Other operating expenses​160,609​149,199​124,649
Research and development expenses​119,197​115,041​80,760
Sales and marketing expenses​196,654​164,564​114,331
General and administrative expenses​100,929​90,010​64,399
Depreciation and amortization​27,814​20,858​17,997
Total operating expenses​727,494​649,837​503,612
​​​​​​​​​​
Operating income (loss)​103,609​(22,214)​(30,209)
​​​​​​​​​​
​​​​​​​​​​
Financial income (expense):​​​​​​
Gain from change in fair value of Warrants​​17,359​​33,963​​11,824
Other financial income (expense), net​11,568​(10,131)​(6,854)
Financial income, net​​28,927​​23,832​​4,970
​​​​​​​​​​
Income (loss) before taxes on income and share in losses of associated company​​132,536​​1,618​​(25,239)
​​​​​​​
Taxes on income​39,203​13,586​8,711
​​​​​​​​​​
Share in losses of associated company​​—​​2​​37
​​​​​
Net income (loss)​$93,333​$(11,970)​$(33,987)
​​​​​​​​​​
Other comprehensive loss, net of tax​​​​​​​​​
Foreign currency translation adjustments​​—​​(2,429)​​(1,921)
Other comprehensive loss, net of tax​​—​​(2,429)​​(1,921)
​​​​​​​​​​
Comprehensive income (loss)​$93,333​$(14,399)​$(35,908)
​​​​​​​​​​
Per Share Data​​​​​​​​​
Net income (loss) per share attributable to common stockholders — Basic earnings (loss) per share​$0.26​$(0.03)​$(0.33)
— Diluted earnings (loss) per share​$0.24​$(0.03)​$(0.33)
​​​​​
Weighted average common shares outstanding — Basic​​361,678,893​​348,044,831​​202,881,911
Weighted average common shares outstanding — Diluted​​392,665,718​​348,044,831​​202,881,911

CONSOLIDATED STATEMENTS OF CHANGES IN REDEEMABLE PREFERRED STOCK, REDEEMABLE CONVERTIBLE PREFERRED

STOCK AND SHAREHOLDERS’ EQUITY

U.S. DOLLARS IN THOUSANDS, EXCEPT SHARE DATA

​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​
​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · Accumulated · ​ · ​ · ​ · ​ · ​ · ​
​ · ​ · Redeemable convertible · ​ · ​ · Redeemable · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · Additional · ​ · other · ​ · ​ · ​ · ​ · ​ · ​
​ · ​ · preferred stock · ​ · ​ · preferred stock · ​ · ​ · Common Stock · ​ · ​ · Treasury Stock · ​ · paid-in · ​ · comprehensive · ​ · Accumulated · ​ · ​ · ​
​ · Shares · Amount · Shares · Amount · Shares · Amount · Shares · Amount · capital · income (loss) · deficit · Total
Balance at January 1, 2021209,529,798​$154,800​​3,500$10,735​​48,608,176​$486​​—​$—​$79,706​$4,174​$(60,067)​$24,299
Reverse Recapitalization transaction(209,529,798)​​(154,800)​​—​​—​​249,792,546​​2,498​​—​​—​​189,056​​—​—​191,554
PIPE financing—​​—​​—​​—​​30,000,000​​300​​—​​—​279,885​​—​—​280,185
Redemption of Redeemable Preferred Stock—​​—​​(3,500)​​(10,735)​​—​​—​​—​​—​(29,069)​​—​—​(29,069)
Exercise of options and vested RSUs​—​​—​​—​​—​​11,704,229​​117​​—​​—​​18,883​​—​​—​​19,000
Stock-based compensation—​​—​​—​​—​​—​​—​​—​​—​37,012​​—​—​37,012
Deferred consideration related to acquisition of optile—​​—​​—​​—​​279,206​​3​​—​​—​(3)​​—​—​—
Other comprehensive loss, net of tax—​​—​​—​​—​​—​​—​​—​​—​​—​​(1,921)​​—​​(1,921)
Net loss​—​​—​​—​​—​​—​​—​​—​​—​—​​—​(33,987)​(33,987)
Balance at December 31, 2021​—​$—​​—​$—​​340,384,157​$3,404​​—​$—​$575,470​$2,253​$(94,054)​$487,073
​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​
Balance at January 1, 2022—​$—​​—$—​​340,384,157​$3,404​​—​$—​$575,470​$2,253​$(94,054)​$487,073
Adoption of ASC 326​—​​—​​—​​—​​—​​—​​—​​—​​—​​—​​(2,505)​​(2,505)
Exercise of options and vested RSUs​—​​—​​—​​—​​11,478,291​​114​​—​​—​​17,392​​—​​—​​17,506
Stock-based compensation​—​​—​​—​​—​​—​​—​​—​​—​​53,741​​—​​—​​53,741
ESPP shares issued​—​​—​​—​​—​​979,577​​10​​—​​—​​3,830​​—​​—​​3,840
Other comprehensive loss, net of tax​—​​—​​—​​—​​—​​​​​—​​​​​—​​(2,429)​​—​​(2,429)
Net loss​—​​—​​—​​—​​—​​—​​—​​—​—​​—​(11,970)​(11,970)
Balance at December 31, 2022​—​$—​​—​$—​​352,842,025​$3,528​​—​$—​$650,433​$(176)​$(108,529)​$545,256
​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​
Balance at January 1, 2023—​$—​​—$—​​352,842,025​$3,528​​—​$—​$650,433​$(176)​$(108,529)​$545,256
Exercise of options and vested RSUs, and shares granted, net of taxes paid related to settlement of equity awards​—​​—​​—​​—​​13,959,542​​140​​—​​—​​6,329​​—​​—​​6,469
Stock-based compensation​—​​—​​—​​—​​—​​—​​—​​—​​69,028​​—​​—​​69,028
ESPP shares issued​—​​—​​—​​—​​1,853,618​​19​​—​​—​​7,104​​—​​—​​7,123
Common stock repurchased​—​​—​​—​​—​​—​​—​​(11,064,692)​​(56,936)​​—​​—​​—​​(56,936)
Net income​—​​—​​—​​—​​—​​—​​—​​—​—​​—​93,333​93,333
Balance at December 31, 2023​—​$—​​—​$—​​368,655,185​$3,687​​(11,064,692)​$(56,936)​$732,894​$(176)​$(15,196)​$664,273
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.