PAY reported EPS of 17c beating estimates of 16c and increasing 8%. Revenue missed estimates of $61.53M coming in at $59M increasing 25% year-over-year. Active users were just above 1.5M, up 24% year-over-year. Total Gross Dollar Value was $3.8B, up 29% year-over-year. PAY launched a pilot earned wage access (EWA) product with Automatic Data Processing (a global provider of Human Capital Management solutions) to the Canadian market. Revenue for 2025 is expected to be much lower excluding DoorDash contributions. The quarter displayed high growth however with a miss on revenue. We will have to see how PAY can perform without DASH contributions in future quarters but a significant decline in revenue and earnings can be expected.The strategic review is also ongoing.
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