Start Time: 16:30 January 1, 0000 5:20 PM ET
Payoneer Global Inc. (NASDAQ:PAYO)
Q3 2022 Earnings Conference Call
November 09, 2022, 16:30 PM ET
Company Participants
Scott Galit - Co-CEO
John Caplan - Co-CEO
Michael Levine - CFO
Michelle Wang - VP, IR
Conference Call Participants
Will Nance - Goldman Sachs
Sanjay Sakhrani - Keefe, Bruyette & Woods
Josh Siegler - Cantor Fitzgerald
Cris Kennedy - William Blair
Mayank Tandon - Needham
Mike Grondahl - Northland Securities
Operator
Good afternoon and thank you for standing by. Welcome to Payoneer's Third Quarter 2022 Earnings Conference Call. At this time, all lines have been placed on mute to prevent any background noise. Following the speakers' remarks, we will open the line for your questions. As a reminder, this conference call is being recorded.
I would now like to hand the call over to Michelle Wang, Payoneer's VP of Investor Relations.
Michelle Wang
Thank you, operator. With me on today's call are Payoneer's Co-Chief Executive Officers, Scott Galit and John Caplan; as well as Michael Levine, Payoneer's Chief Financial Officer.
Before we begin, I'd like to remind you that today's call may contain forward-looking statements. These forward-looking statements are subject to numerous risks and uncertainties, including those set forth in our filings with the SEC, which are available in the Investor Relations section of our Web site. Actual results may differ materially from any forward-looking statements we make today.
These forward-looking statements speak only as of today and the company does not assume any obligation or intent to update them, except as required by law. In addition, today's call may contain non-GAAP measures. These measures should be considered as a supplement to and not as a substitute for GAAP financial measures. Reconciliation to the nearest GAAP measure can be found in today's earnings press release, which is available on the company's Web site.
With that, I'd like to turn the call over to John to begin.
John Caplan
Good afternoon. And thank you all for joining us today to discuss our third quarter 2022 results. On today's call, I will discuss the opportunities I see for our business, our outlook for the rest of 2022 and our initial outlook for 2023 EBITDA. Scott will cover third quarter business results, and Michael will discuss third quarter financial results and our updated guidance in more detail.
Payoneer delivered a strong quarter of business and financial results. We generated 30% revenue growth and over 100% adjusted EBITDA growth year-over-year. Year-to-date, our revenue is up 33% and adjusted EBITDA is up over 150% year-over-year. It can be challenging to understand the obstacles that emerging market entrepreneurs face and the limited options they have when growing their businesses.