Paysafe reported a third-quarter FY21 revenue decline of 1 percent year-on-year to $353.6 million, missing the consensus of $370.6 million. Total Payment Volume of $31.1 billion increased 19 percent Y/Y. Segments Integrated Processing revenue grew 3.5 percent Y/Y to $186.9 million, Digital Wallet revenue declined 15.1 percent Y/Y to $83.7 million, and eCash Solutions revenue increased 10 percent Y/Y to $90.2 million. The adjusted EBITDA margin contracted 10 bps to 30.1 percent. Paysafe held $262.3 million in cash and equivalents and generated $51.6 million in operating cash flow. In the third quarter, we reported Adjusted EBITDA in line with our expectations, despite softer than expected revenue, reflecting both market and performance challenges within the digital wallet business, CEO Philip McHugh said. Outlook Paysafe sees Q4 revenue of $355 million–$365 million, below the consensus of $417.7 million. The company slashed FY21 revenue from $1.53 billion – $1.55 billion to $1.47 billion – $1.48 billion below …
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