Nuvei earns US$14.1 million in fourth quarter, revenues also rise

The Canadian Press

Phil Fayer, founder and chief executive officer of Nuvei Corp., speaks during the Canada FinTech Forum in Montreal, Quebec, Canada, on Tuesday, Sept. 26, 2023. The event aims to showcase emerging global trends in FinTech, new technology solutions for the financial industry and emerging FinTech start-ups. , Allen McInnis/Bloomberg

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Nuvei Corp. says it earned US$14.1 million in the fourth quarter, up from US$9.4 million a year earlier.

The Montreal-based payment technology company, which reports in U.S. dollars, says revenue for the quarter ended Dec. 31 was US$321.5 million, up from US$220.3 million during the same quarter in 2022.

Earnings per diluted share were eight cents, up from six cents a year earlier.

The company reported a loss for the full financial year of US$696,000, down from earnings of US$62 million in 2022.

In 2023, revenues rose to US$1.2 billion from US$843.3 million in 2022.

Nuvei says it's taking a prudent approach in 2024, weighing optimism for its business against macro uncertainties.

This report by The Canadian Press was first published March 5, 2024.