Gross profit represents revenue less cost of services excluding depreciation and amortization. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Head of Investor Relations. Total revenue was $51.8 million, an increase of 2.4% from $50.6 million for the third quarter of 2019. The financial information for the three and nine months ended September 30, 2020 and the three and nine months ended September 30, 2019 included in this press release reflects, and is based upon, information of Paya prior to giving effect to the business combination with FinTech Acquisition Corp. III Parent Corp. completed on October 16, 2020 (as further discussed below). We have included Payment volume, Adjusted EBITDA, Reconciliation of Net income, (loss) to Adjusted Net Income, Segment gross profit (revenue less cost of services excluding depreciation and amortization) and Segment gross profit margin, which are measurements not calculated in accordance with US GAAP, in the discussion of our financial results because they are key metrics used by management to assess financial performance. Paya is a leading provider of integrated payment and frictionless commerce solutions that help customers accept and make payments, expedite receipt of money, and increase operating efficiencies. In this role, Humphries will be responsible for communicating the vision and value of Paya’s integrated payments model and technology with shareholders, analysts, and the broader financial community. Announces Third Quarter 2020 Results. In addition, although other companies in our industry may report measures titled EBITDA, Adjusted EBITDA, and Adjusted Net Income or similar measures, such non-GAAP financial measures may be calculated differently from how we calculate non-GAAP financial measures, which reduces their overall usefulness as comparative measures. (f) Expenses related to carving out the entity from former Corporate owner Sage PLC including rebranding, technology implementation, consulting and transitional service agreement expenses. Segment gross profit margin represents segment gross profit as a percentage of total segment revenue. (g) Represents non-operational gains or losses, non-standard project expense, non-operational legal expense and other. “Even amid the COVID-19 pandemic, Paya returned to year-over-year revenue growth, reported positive net income, continued to achieve year-over-year EBITDA growth, and saw improving volume figures throughout the third quarter. The business has built its foundation on offering robust integrations into front-end CRM and back-end accounting systems to enhance customer experience and workflow. Net income was $1.6 million, compared to a net loss of $(0.6) million for the third quarter of 2019. (e) Represents costs incurred to retire certain tools, applications and services that are no longer in use. Payment volume was $8.7 billion, an increase of 7.6% from $8.0 billion for the third quarter of 2019. Made In NYC | ATLANTA, Nov. 16, 2020 (GLOBE NEWSWIRE) -- Paya, a leading integrated payments and commerce solution provider, today announced that Jeff Hack, Paya CEO and other senior management team members are scheduled to participate in the following upcoming virtual investor conferences: Citi Fin ancial. Nov 9, 2020. You should not place undue reliance on such statements as we cannot assure you that future developments affecting us will be those that we have anticipated. © 2020 Insider Inc. and finanzen.net GmbH (Imprint). Nov 2, 2020. Because of these limitations, you should consider EBITDA, Adjusted EBITDA and Adjusted Net Income alongside other financial performance measures, including net income and our other financial results presented in accordance with GAAP. John Fetterman calls Trump's election lawsuits 'mandatorily aired absurdities' and calls out Twitter over its handling of the president's misinformation », Paya to Present at Upcoming Virtual Investor Conferences, Dustin Renn Joins Leading Integrated Payments Provider Paya as Head of Corporate Development/M&A, Paya Holdings Inc. The conference call will be available by live webcast through the Investors section of Paya’s website at www.Paya.com or by dialing in as follows: Please register for the webcast or dial into the conference call approximately 15 minutes prior to the scheduled start time. Vernon, OH, and Dallas, TX. Certain statements made in this press release are "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Cautionary Statement Regarding Forward Looking Statements. Upon completion of the business combination, the Company changed its name from FinTech Acquisition Corp. III Parent Corp. to Paya Holdings Inc., and its common stock and warrants began trading on the Nasdaq Stock Market under the ticker symbols “PAYA” and “PAYAW,” respectively, on October 19, 2020. On October 16, 2020, Paya and FinTech Acquisition Corp. III (“FinTech”), a special purpose acquisition company, announced that they completed the previously announced business combination under which all of the equity interest of GTCR Ultra-Holdings II, LLC was contributed to the Company and a subsidiary of the Company merged with and into FinTech, with each outstanding share of FinTech common stock converting into one share of Paya common stock. Announces Third Quarter 2020 Results, Matt Humphries Joins Leading Integrated Payments Provider Paya as Head of Investor Relations, Canaccord signs on as Paya bull on potential for payments platform integration, Paya Partners With Consumer Lending Provider Artis Technologies, Cost of services exclusive of depreciation and amortization, Selling, general & administrative expenses, Property and equipment, net and Other long-term assets, Deferred tax liability, net and Other long-term liabilities, Changes in operating assets and liabilities, Purchases of property and equipment, net of impact of business acquisitions and Purchases of customer lists. Media Contact: Kerry Close 212-784-5717 email@example.com The company processes over $30 billion of annual payment volume across credit/debit card, ACH, and check, making it a top 20 provider of payment processing in the US and number 6 overall in e-Commerce. Adjusted Net Income was $8.2 million, an increase of 17.1% from $7.0 million for the third quarter of 2019. The business has built its foundation on offering robust integrations into front-end CRM and back-end accounting systems to enhance customer experience and workflow. Integrated Solutions segment revenue was $30.4 million, an increase of 2.7% from $29.6 million for the third quarter of 2019. Gross profit was $25.9 million, resulting in a gross profit margin of 50.0%, as compared to $25.8 million with a gross profit margin of 51.0% for the third quarter of 2019. investor relations Company Profile Paya is a leading provider of integrated payment and frictionless commerce solutions that help customers accept and make payments, expedite receipt of money, and increase operating efficiencies. Commerce Policy | (e) Represents advisory fees associated with the former owner that we will not be required to pay post public transaction. Paya Holdings Inc.Payment Volume($ in millions)(unaudited), Registration on or use of this site constitutes acceptance of our, 'No longer a stock but a full casino': Palantir will lose one-third of its value by year-end after surging more than 300% since going public, short-seller Citron Research says », Pennsylvania Lt. Gov. Adjusted EBITDA was $13.5 million, an increase of 10.7% from $12.2 million for the third quarter of 2019. Matt Humphries, CFAHead of Investor Relationsmatt.firstname.lastname@example.org, Kerry Close212-784-5717 email@example.com, Paya Holdings Inc.Consolidated Statements of Operations($ in millions)(unaudited), Paya Holdings Inc.Condensed Consolidated Balance Sheet Data($ in millions), Paya Holdings Inc.Condensed Consolidated Cash Flow Data($ in millions)(unaudited), Paya Holdings Inc.Segment revenue, gross profit (revenue less cost of services excluding depreciation and amortization), gross profit margin($ in millions)(unaudited), Paya Holdings Inc.Reconciliation of Net income, (loss) to EBITDA and Adjusted EBITDA ($ in millions)(unaudited), Paya Holdings Inc.Reconciliation of Net income, (loss) to EBITDA and Adjusted EBITDA Definitions.
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