Charlotte-based Paymentus Holdings saw its stock rise 24.6% Tuesday after it reported fourth-quarter results that topped Wall Street estimates for revenue and earnings.
The payment company controlled by the Accel-KKR private equity group reported record revenue of $257.9 million, a year-over-year increase of 56.5%, driven largely by increased billings and transactions. The consensus was $222 million.
Gross profit was $66 million, an increase of 33.4%. Adjusted gross profit was $71.8 million, up 32.4%.
The company processed 166 million transactions in the fourth quarter, an increase of 33%.
For the full year, revenue was $871.7 million,a 42% increase. Adjusted gross profit was $259.6 million, up 30.4% year-over-year.
The company processed 597 million transactions for the full year 2024, gaining 40% from 2023
Paymentus also provided 2025 revenue guidance of between $1.04 billion-$1.06 billion, compared with the consensus of $1.02 billion.
Shares closed Tuesday at $30.75, up $6.07. Shares are up nearly 48% in the past year, after trading between $16.94 and $38.94. It has a market capitalization of $3.8 billion.
“These results, combined with our strong bookings and backlog at year-end, give us confidence that we are well positioned to deliver solid growth in 2025, as we continue to execute on our longer-term strategic goals,” said Dushyant Sharma, founder and CEO, in a release.
The company began in 2004 and was acquired by Accel-KKR in 2011. It went public for $21 in 2021. Accel-KKR controls about 75% of the company’s voting power. The company moved its headquarters from Redmond, Washington, to Charlotte in 2022.
Paymentus had 1,307 full-time employees as of Dec. 31, and a few part-time employees. Its more than 2,200 customers include banks, utilities and brand partners including PayPal, Walmart, CVS and Walgreens.