Adyen is strongly positioned to continue making progress and generating revenue, the company’s executive leadership has revealed in a letter to shareholders detailing its H1 financial results.
The Amsterdam-based fintech reported net revenue growth in line with its expectations, increasing 24% year-over-year for total revenue of €913.4m as of 30 June 2024, alongside EBITDA of €423.1m, up 32%.
Adyen’s international scope, with the company active across Europe, the Middle East and Africa, North America and South America, and much of Asia, continues to gain market share, laying the foundations for continuing growth moving into H2.
In particular, Adyen has cited obtaining additional licences in India and registering in Mexico as significant. In the latter, the firm has partnered with IKEA Mexico, which it described as one of several ‘wins’ which have ‘‘continued laying the foundation in LatAm’.
Outside of Latin America, the EMEA and North American regions have also been highlighted, with the former registering 25% revenue growth and the latter 30% revenue growth. This made North America the fastest-growing region for Adyen in H1, whilst the firm’s Tide partnership was noted as a growth driver for these regions.
More generally, partnerships with global recruitment platform Indeed and US over-the-top (OTT) TV outlet Fubo have also been cited as key to Ayden’s success. The firm cites these as examples of its successful cost optimisation, having reduced total costs of ownership for both firms.
“As we look ahead to H2, we feel strongly positioned to continue executing on the expectations we detailed when we came together at our Investor Day in San Francisco,” the letter signed by P.W. van der Does (Co-founder and Co-CEO), I.J. Uytdehaage (Co-CEO) and E.L. Tandowsky (CFO) stated.
“We aim to grow net revenue annually between the low-twenties and high-twenties percent up to and including 2026. The building blocks we outlined in November remain intact.”
The executives added that EBITDA margin levels are expected to be above 50% in 2026, alongside a sustainable capital expenditure level of up to 5% of its net revenue. For H1 2024, this figure stood at 4.6%.
