ATLANTA, Nov. 07, 2019 (GLOBE NEWSWIRE) — EVO Payments, Inc. (NASDAQ: EVOP) (“EVO” or the “Company”) today announced its third quarter 2019 financial results. For the third quarter ended September 30, 2019, reported revenue was $122.4 million, compared to $144.8 million in the prior year, which reflects the adoption of Accounting Standards Codification Topic 606, Revenue from Contracts with Customers (“ASC 606”), effective January 1, 2019. Adjusted revenue for the third quarter was $152.6 million, compared to $144.8 million in the prior year, an increase of 5%. On a currency neutral basis, adjusted revenue for the third quarter increased 8%. On a GAAP basis for the third quarter, net loss was $5.0 million or a loss of $0.05 per share, basic and diluted, attributable to EVO Payments, Inc. Adjusted EBITDA increased 10% to $42.2 million for the quarter, compared to $38.4 million in the prior year. On a currency-neutral basis, adjusted EBITDA grew 13% over the prior year.
“EVO delivered strong growth once again in the third quarter” stated James G. Kelly, Chief Executive Officer of EVO. “We expanded our tech-enabled businesses through enhanced capabilities and distribution in both Europe and North America to secure additional growth opportunities to complement our bank referral channels. This quarter we also announced the acquisition of Delego to support our B2B business in the U.S. and Canada, as there is a long runway in this fast-growing component of the payments market.”
About EVO Payments, Inc.
EVO Payments, Inc. (NASDAQ: EVOP) is a leading payment technology and services provider. EVO offers an array of innovative, reliable, and secure payment solutions to merchants ranging from small and mid-size enterprises to multinational companies and organizations across the Americas and Europe. As a fully integrated merchant acquirer and payment processor in over 50 markets and 150 currencies worldwide, EVO provides competitive solutions that promote business growth, increase customer loyalty, and enhance data security in the markets it serves.
Sarah Jane Perry
Investor Relations & Corporate Communications Manager