Paymentus Holdings, a bill payment technology provider based in Charlotte, N.C., has announced a significant increase in profit for the fourth quarter. With sales soaring by over $30 million year over year, the company is seeing impressive financial growth.
Profit and Sales Figures
During the three months ending on Dec. 31, Paymentus Holdings reported a profit of $9.4 million, or 7 cents per share, compared to $957,000, or 1 cent per share, in the same period the previous year. This exceeded analysts' expectations of a per-share profit of 3 cents. Adjusted per-share earnings, when excluding certain one-time items, stood at 11 cents, surpassing the 6 cents forecasted by analysts.
Revenue and Transactions
The company also saw a substantial increase in revenue, reaching $164.8 million, compared to $132.2 million in the previous year. This beat analysts' expectations of $157.4 million. Paymentus processed 124.8 million transactions in the fourth quarter, marking a notable 28.4% increase from the same period a year ago.
Future Projections
Looking ahead, Paymentus anticipates revenue ranging between $170 million and $176 million in the first quarter of 2024. Additionally, the company expects a contribution profit between $64 million and $66 million during this time frame.
These strong financial results indicate promising growth opportunities for Paymentus Holdings in the upcoming quarters.
