Paymentus Reports Record Q4 Revenue, Projects Strong Growth Ahead

CHARLOTTE, N.C. – Paymentus Holdings, Inc., a leader in cloud-based bill payment technology, announced record financial results for the fourth quarter and full year ending December 31, 2024, highlighting substantial year-over-year growth amid a competitive market.

In its unaudited financial results, the company reported fourth quarter revenue at $257.9 million, a significant increase of 56.5% compared to the previous year. Gross profit for the same quarter was $66 million, which marks a 33.4% rise. Adjusted gross profit increased by 32.4% to $71.8 million, and contribution profit was up 30.0%, reaching $86.2 million. Additionally, Paymentus posted a net income of $13.1 million, up from $9.4 million in the prior period, translating to diluted GAAP earnings per share of $0.10.

For the entire fiscal year, Paymentus reported revenues of $871.7 million, representing a 41.9% increase over 2023. The company’s gross profit climbed to $238.2 million, an increase of 30.6%, while adjusted gross profit rose to $259.6 million. Contribution profit for the year was $312.1 million, reflecting a 29.5% increase. The total net income for 2024 was reported at $44.2 million, contributing to a diluted GAAP earnings per share of $0.35.

Throughout the fourth quarter alone, Paymentus processed 166 million transactions, marking a 33.0% increase from the same time last year. Over the entire year, the company successfully handled 597 million transactions, a 30.3% rise, indicating enhanced operational efficiency and market demand.

The company’s proprietary Instant Payment Network (IPN) has played a crucial role in expanding its operational capabilities. The network connects numerous billers to Paymentus’ integrated billing, payment, and reconciliation systems, further enhancing service delivery to consumers.

Dushyant Sharma, Founder and CEO of Paymentus, commented on the results, saying, “Paymentus ended the year with quarterly results that exceeded our expectations across virtually all facets of our business. These results, combined with our strong bookings and backlog at year-end, position us well for solid growth in 2025 as we execute our strategic goals.”

Looking ahead, Paymentus projects revenue for the first quarter of 2025 to range between $241 million and $249 million, with an expected contribution profit of $84 million to $86 million. The company anticipates full-year revenue for 2025 to be between $1,040 million and $1,060 million, alongside a contribution profit forecast of $358 million to $366 million.

The annual report, filed with the Securities and Exchange Commission, underscores Paymentus’ focus on expanding its biller and consumer base while maintaining its competitive edge in the electronic payment services market.