As we come to the halfway point for the year, momentum for fintechs is still going strong and cashless continues to dominate the marketplace. The recent trend towards mergers and acquisitions in our thriving ecosystem has paved the way for some impressive growth numbers, while the digital buzz continues to prime the marketplace for innovation and IPOs.
Adding to the roster of publicly traded payment facilitators, Phreesia announced the closing of its IPO last week (July 22). The public offering price was $18.00 per share, with total gross proceeds to Phreesia of approximately $140.6 million, according to the press release.
Here are the Q2 earnings for PayPal and Blackbaud. Stay tuned for more information on Q2 numbers for Square and Shopify. We will update this story as their earnings are announced Thursday.
“PayPal delivered another solid quarter, and consequently we are raising EPS guidance for the year. Venmo’s momentum continues, with 70% growth in total payment volume to $24 billion. And earlier this month, Xoom expanded to 32 new send markets throughout Europe,” said Dan Schulman, president and CEO of PayPal.
For Q2 2019:
- Total active accounts raised to 286 million (up 17%).
- Engagement per active account is also up 9% to 39 times per year.
- Revenue grew 12% on both a spot and foreign currency-neutral basis to $4.31 billion.
- The company reported a GAAP operating margin of 16.4%, with a non-GAAP operating margin of 23.2%.
- Payment transactions also increased to a total of 3 billion (up 28%).
- Total payment volume raised 24% to a total of $172 billion.
“This year marks our 15th year as a Nasdaq listed public company, which is a testament to the incredible team we have and their dedication to drive powerful social impact and create shareholder value,” said Mike Gianoni, Blackbaud’s president and CEO. “We continued to drive market-specific innovation across our vertical markets.”
For Q2 2019:
- Total GAAP revenue is up 5.6% at $225.6 million, with $208.5 million in GAAP recurring revenue.
- GAAP recurring revenue is up 8.2%.
- Total non-GAAP revenue is up 5.5% at $226.4 million, with $209.2 million in non-GAAP recurring revenue.
- Non-GAAP recurring revenue is up 8%.
- Non-GAAP organic recurring revenue increased 5%.
- GAAP net income was $7.1 million, with GAAP diluted earnings per share of $0.15, up $0.01.
- Non-GAAP net income was $31.9 million, with non-GAAP diluted earnings per share of $0.66, down $0.03.