Adyen Q3 2024 $ADYEN (-0,21 %)
Financial results
- Net revenue: EUR 498.3 million in Q3 2024, an increase of 20% year-on-year; on a constant currency basis, year-on-year growth was 21%.
- Volume processed: 320.6 billion euros, an increase of 32% year-on-year.
Balance sheet and cash flow overview
- Balance sheet: The report does not contain any specific balance sheet information.
- Income statement: Apart from net sales, no further details on the income statement are provided.
- Cash flow: Cash flow details are missing from the report.
Key figures and profitability metrics
- EBITDA margin: The company is aiming to improve its EBITDA margin to over 50% by 2026.
Segment information
- Platforms: Volume processed increased by 44% year-on-year; excluding eBay, growth was 54%.
- Digital: Processed volume increased by 29 % year-on-year.
- Unified Commerce: Volume processed increased by 33% year-on-year.
Competitive position
- Scaling the customer base: The company is constantly expanding its customer base; 25 platforms currently process over one billion euros annually, compared to 17 in the previous year.
Management forecasts and comments
- Net sales growth: Expected to grow net sales between low and high 20 percent ranges annually through 2026.
- Capital expenditure: Capital expenditure to be maintained at up to 5% of net sales.
Opportunities and risks
- Opportunities: Expansion in North America and improvements to the product range, such as the "Intelligent Payment Routing" solution.
- Risks: Dependence on a single large customer, which could affect volume growth.
Positive aspects
- Strong sales growth: Net sales increased by 20% year-on-year.
- Platform expansion: Processed volume via platforms increased by 44 % year-on-year.
- Unified Commerce growth: Processed volume increased by 33% year-on-year.
- Product innovation: Launch of new products such as the SFO1 terminal and "Intelligent Payment Routing".
- Expansion of the customer base: Increasing number of platforms with a processed volume of over one billion euros annually.
Negative aspects
- Dependence on volume growth: Limited volume growth due to a single large customer.
- Lack of financial details: No detailed balance sheet, income statement or cash flow information.
- Unchanged financial targets: No adjustment to financial forecasts despite market conditions.
- Hiring challenges: Non-linear hiring processes, yet focus on key investments.
- Currency effects: Currency fluctuations slightly affect net sales growth.