The bad…Financial Outlook(4)
For the three months ending September 30, 2023 and the fiscal year ending December 31, 2023, Nuvei anticipates Total volume(1), Revenue, Revenue at constant currency(2) and Adjusted EBITDA(2) to be in the ranges below. The Company has revised its growth expectations for the second half of the year, primarily due to two factors. The first and more significant factor relates to longer than anticipated lag times in new business. The second factor stems from the Company’s recent decision to exit its relationship with a large customer. The Company estimates it has approximately $100 million in annualized revenue in various stages that it expects to activate within the next four quarters. Nuvei now expects Organic revenue growth excluding digital assets and cryptocurrencies at constant currency(2) to be between 16% and 20% for the fiscal year ending December 31, 2023.