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PAYO · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Payoneer Global Inc. Common Stock (PAYO) stock moving?
Payoneer's Q3 2026 print was mixed. Revenue of $276.9M and EPS of $0.04 both missed estimates, adjusted EBITDA fell 4%, and take rate compressed 12 bps to 109 bps. The positives were 13% volume growth to $25.3B, B2B volume up 59%, ARPU up 18%, and new payment licenses in Canada and Israel. Price action has been muted: the stock has held a tight $7.12-$7.22 band over the last 30 days, with closes between $7.12 and $7.17 since the Nov 5 release. Volume was elevated on Nov 2, Nov 4 and Nov 5 (3.2M, 4.8M and 3.3M shares against a roughly 1.0-1.5M baseline), but the Nov 4 spike came before the results release and cannot be tied to it. The near-flat price and the pending Nuvei transaction (targeted mid-2027 close, shareholder approval received, regulatory approvals still pending) suggest the price is anchored to deal expectations, though the deal terms are not in the provided items. The Oct 2 director resignation and the retention award for Tsafi Goldman are routine governance items. Overall, the evidence does not point clearly either way.
News behind the analysis
- Payoneer Reports Third Quarter 2026 Financial ResultsQ3 revenue was $276.9M (+2% YoY) and total volume rose 13% to $25.3B, with B2B volume up 59%. Adjusted EBITDA fell 4% to $68.3M, and the company said it obtained payment licenses in Canada and Israel.
- Payoneer Global Q3 EPS $0.04 Misses $0.06 Estimate, Sales $276.938M Miss $285.332M EstimateQ3 earnings per share of $0.04 missed the $0.06 consensus, and revenue of $276.9M missed the $285.3M estimate.
- Form 8-K: Results of Operations and Financial Condition (Exhibit 99.1)The company furnished its Q3 2026 results release, which says a targeted mid-2027 close of the Nuvei transaction remains on track. Shareholders approved the Nuvei merger agreement on Sept 14, 2026, and regulatory approvals are still in progress.
- Form 8-K: Departure of Director and Retention AwardDirector Barak Eilam resigned effective Oct 5, 2026, and also left the Audit and Risk Committees. The Compensation Committee approved a cash retention award for Tsafi Goldman, to be granted in February 2027.
About Payoneer Global Inc. Common Stock
Payoneer is a New York-based fintech that helps small businesses, online marketplace sellers and freelancers around the world get paid across borders, hold money in several currencies and pay suppliers. In June 2026 it agreed to be bought by payments company Nuvei for $7.40 per share in cash; shareholders approved the deal in September 2026, closing is targeted for around mid-2027, and the stock would then be delisted from Nasdaq.
How it makes money
Most of its money comes from fees on payments it handles: receiving marketplace payouts, currency conversion, sending money to suppliers (B2B), card spending and checkout services. It processed about $25 billion of payments in Q3 2026. It also earns interest on customer funds it holds (about $7.6 billion as of early 2026). That interest made up roughly a fifth of revenue: about $52 million of the roughly $274 million in Q2 2026. Smaller sources include cash advances to sellers. Total revenue was roughly $1.05 billion in 2025.
What usually moves PAYO
- Progress toward closing the pending $7.40-per-share cash buyout by Nuvei
- Interest rates, which affect income earned on customer funds
- Cross-border e-commerce and marketplace seller activity
- B2B payment volume growth and how much it earns per dollar processed (take rate)
- Regulatory and licensing developments across many countries