Paymentus Holdings (PAY, Financial) just set Wall Street ablaze. Shares of the cloud-based bill payment powerhouse jumped 22.5% today after the company dropped jaw-dropping Q3 2024 numbers. Revenue shot up 51.9% year-over-year to a record $231.6 million, while adjusted EBITDA surged 58.2%, landing at a healthy 30.7% margin. CEO Dushyant Sharma didn't hold back, calling the results a testament to the company's strategic momentum. With transactions soaring 34.6% to a record 155.3 million, Paymentus is looking like a fintech freight train gaining speed.
It wasn't just top-line growth that got investors hyped. Net income came in at $14.4 million, with GAAP earnings per share hitting $0.11. On a non-GAAP basis, EPS rose to $0.15, giving Paymentus a strong profitability narrative. Gross profit surged 29.3%, driven by a bigger biller base and escalating transaction volumes. Management also teased their Q4 guidance—revenues projected at $215–$220 million, with fiscal-year revenue expected to hit as high as $834 million. Add in a steady backlog and robust bookings, and you've got a company firing on all cylinders.
So, what's next? Paymentus is positioning itself as a long-term winner in the rapidly evolving payment tech space, and this quarter's blowout performance only solidifies its case. For Q4, the company is targeting adjusted EBITDA between $22–$24 million, which could cap off a record-setting year. With their consistent growth in profitability and a laser focus on innovation, Paymentus is becoming a fintech darling investors can't afford to ignore.
