$PSFE

Paysafe Ltd

CIK:0001833835|SEC Filings

Consolidated Statements of Comprehensive (Loss) / Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Statement of Comprehensive Income [Abstract]
Revenue	$ 1,701,388	$ 1,704,835	$ 1,601,138
Cost of services (excluding depreciation and amortization)	741,197	715,762	663,212
Selling, general and administrative	563,647	575,553	508,136
Depreciation and amortization	274,107	273,364	263,433
Impairment expense on goodwill and intangible assets	1,423	823	1,254
Restructuring and other costs	48,366	5,178	6,061
Loss on disposal of subsidiaries and other assets, net	732	801	386
Operating income	71,916	133,354	158,656
Other (expense) / income, net	(7,563)	21,475	13,081
Interest expense, net	(136,414)	(140,805)	(151,148)
(Loss) / income before taxes	(72,061)	14,024	20,589
Income tax expense / (benefit)	110,446	(8,136)	40,840
Net (loss) / income	$ (182,507)	$ 22,160	$ (20,251)
Net (loss) / income per share - basic	$ (3.14)	$ 0.36	$ (0.33)
Net (loss) / income per share - diluted	$ (3.14)	$ 0.36	$ (0.33)
Net (loss) / income	$ (182,507)	$ 22,160	$ (20,251)
Other comprehensive income / (loss), net of tax of $0:
Gain / (loss) on foreign currency translation	24,602	(16,742)	14,330
Total comprehensive (loss) / income	$ (157,905)	$ 5,418	$ (5,921)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities
Net (loss) / income	$ (182,507)	$ 22,160	$ (20,251)
Adjustments for non-cash items:
Depreciation and amortization	276,366	274,755	264,145
Unrealized foreign exchange (gain) / loss	(7,266)	(4,123)	411
Deferred tax expense / (benefit)	74,403	(33,187)	19,692
Interest expense , net	4,075	(10,122)	(2,642)
Share based compensation	32,304	38,534	28,873
Other income, net	(2,195)	(10,159)	(20,515)
Impairment expense on goodwill and other assets, net	1,423	823	1,254
Allowance for credit losses and other	48,251	52,649	21,186
Loss on disposal of subsidiaries and other assets, net	732	801	386
Non-cash lease expense	9,348	8,939	8,937
Movements in working capital:
Accounts receivable, net	(12,763)	(43,241)	(18,813)
Prepaid expenses and other current assets	(5,398)	(11,582)	6,953
Accounts payable and other liabilities	(571)	(26,651)	(32,974)
Income tax payable / receivable	(47)	(5,792)	(22,620)
Net cash flows provided by operating activities	236,155	253,804	234,022
Cash flows from investing activities
Purchase of property, plant & equipment	(12,579)	(15,935)	(12,849)
Purchase of merchant portfolios	(21,211)	(8,778)	(30,735)
Other intangible asset expenditures	(94,187)	(95,783)	(89,319)
Disposal of subsidiaries	1,948	0	0
Receipts under derivative financial instruments	4,469	8,919	10,208
Cash inflow from merchant reserves	17,377	6,510	12,200
Cash outflow for merchant reserves	(36,390)	0	(24,400)
Other investing activities, net	163	(3,313)	(342)
Net cash flows used in investing activities	(140,410)	(108,380)	(135,237)
Cash flows from financing activities
Cash settled equity awards	0	0	(484)
Repurchases of shares withheld for taxes	(10,580)	(7,554)	(8,467)
Proceeds from exercise of warrants	0	0	5
Proceeds from employee share purchase plan	1,111	786	0
Purchase of treasury shares	(90,831)	(42,921)	0
Settlement funds - merchants and customers, net	(160,813)	(163,837)	(588,151)
Repurchases of borrowings	0	(92,278)	(167,424)
Proceeds from loans and borrowings	251,963	220,352	125,597
Repayment of loans and borrowings	(156,214)	(174,718)	(121,724)
Payment of debt issuance costs	0	(491)	0
Proceeds under line of credit	847,000	855,000	900,000
Repayments under line of credit	(838,000)	(865,000)	(900,000)
Other financing activities	300	0	300
Contingent and deferred consideration paid	(7,319)	(10,138)	(10,680)
Net cash flows used in financing activities	(163,383)	(280,799)	(771,028)
Effect of foreign exchange rate changes	114,347	(64,315)	43,317
Increase / (decrease) in cash and cash equivalents, including customer accounts and other restricted cash, during the year	46,709	(199,690)	(628,926)
Cash and cash equivalents, including customer accounts and other restricted cash, net at beginning of the year	1,298,579	1,498,269	2,127,195
Cash and cash equivalents, including customer accounts and other restricted cash, net at end of the year	1,345,288	1,298,579	1,498,269
Supplemental cash flow disclosures:
Cash paid for interest	132,339	150,927	153,790
Cash paid/(received) for Income taxes, net	36,090	30,843	43,768
Cash and cash equivalents	250,168	216,683	202,322
Customer accounts and other restricted cash	1,095,120	1,081,896	1,295,947
Total cash and cash equivalents, including customer accounts and other restricted cash, net	$ 1,345,288	$ 1,298,579	$ 1,498,269

Consolidated Statements of Financial Position - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current assets
Cash and cash equivalents	$ 250,168	$ 216,683
Customer accounts and other restricted cash	1,095,120	1,081,896
Accounts receivable, net of allowance for credit losses of $9,499 and $7,994, respectively	138,356	158,197
Settlement receivables, net of allowance for credit losses of $4,524 and $4,082, respectively	150,727	138,565
Prepaid expenses and other current assets	113,733	81,298
Derivative financial assets - current	597	0
Contingent consideration receivable – current	1,498	0
Total current assets	1,750,199	1,676,639
Deferred tax assets	14,176	91,304
Property, plant and equipment, net	28,351	24,297
Operating lease right-of-use assets	40,278	40,620
Derivative financial assets - non-current	0	5,502
Intangible assets, net	874,050	981,315
Goodwill	2,076,347	1,976,851
Contingent consideration receivable – non-current	3,312	0
Other assets – non-current	16,920	12,806
Total assets	4,803,633	4,809,334
Current liabilities
Accounts payable and other liabilities	209,430	176,940
Short-term debt	10,190	10,190
Funds payable and amounts due to customers	1,181,913	1,235,104
Operating lease liabilities – current	9,016	7,653
Income taxes payable	478	5,495
Contingent consideration payable - current	1,517	8,070
Liability for share-based compensation – current	1,328	2,126
Total current liabilities	1,413,872	1,445,578
Non-current debt	2,605,038	2,353,358
Operating lease liabilities – non-current	33,814	35,573
Deferred tax liabilities	92,472	91,570
Warrant liabilities - non-current	0	1,401
Derivative financial liabilities - non-current	858	0
Liability for share-based compensation – non-current	1,100	2,268
Contingent consideration payable - non-current	1,442	325
Total liabilities	4,148,596	3,930,073
Commitments and contingent liabilities
Shareholder’s equity
Common shares - $0.012 par value; 1,600,000,000 shares authorized; 63,676,383 shares issued and 51,676,354 outstanding as of December 31, 2025 and 62,511,104 shares issued and 59,888,304 outstanding as of December 31, 2024	764	750
Additional paid in capital	3,222,985	3,199,119
Accumulated deficit	(2,420,061)	(2,237,534)
Treasury shares - at cost; 12,000,029 shares as of December 31, 2025 and 2,622,800 shares as of December 31, 2024	(132,765)	(42,586)
Accumulated other comprehensive loss	(15,886)	(40,488)
Total shareholder's equity	655,037	879,261
Total liabilities and shareholder’s equity	$ 4,803,633	$ 4,809,334