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Nuvei Details Preliminary Q4 2020 Results; Sees Revs Between US$114-$118 Million in Q4 2020

· 02/05/2021 03:02

07:46 AM EST, 02/05/2021 (MT Newswires) -- Nuvei Corporation (NVEI.TO), the global payment technology partner of thriving brands, expects total volume of between $13.8 billion and $14.1 billion in Q4 2020, an increase of more than 50% compared to Q4 2019. The company also expects total volume of between $43.1 billion and $43.4 billion for FY 2020, an increase of over 70% compared to FY 2019.

eCommerce represents approximately 80% and 76% of total volume in Q4 and FY 2020, respectively.

The company also expects Q4 revenue of between $114 million and $118 million, a more than 40% increase when compared to the Q4 2019. Nuvei also expects revenue of between $373 million and $377 million for FY 2020, an increase of over 50% compared to the full year of 2019.

"I am very pleased with our preliminary financial results for the fourth quarter and the full year," said Philip Fayer, Nuvei's chairman and CEO. "We made progress on our strategic initiatives, executed on multiple growth opportunities, enhanced our product offerings and capabilities, allowing our merchants to connect further with their customers regardless of country, currency, or payment type. Through our single integrated platform, Nuvei provides one the industry's most complete technology solutions, simplifying our merchants' needs and requirements, improving conversions, reducing fraud, and driving sales, in addition to servicing 200 markets globally with a full set of payment capabilities including the ability to accept more than 450 different payment methods in nearly 150 different currencies. We are well-positioned for the future and I want to thank all of Nuvei's team members for their contributions."

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