Checkout.com has addressed concerns about its financial health after reports surfaced regarding profit declines and significant layoffs.
The UK-based fintech, known for its B2B payments platform, filed its 2023 full-year earnings with Companies House, the UK government agency overseeing the country’s company registry, in December 2024.
Checkout.com reported $212.2m in revenue for 2023, reflecting a 14% drop from the previous year’s $246.3m. The company’s gross profit also fell by 23%, from $73.8m to $57m.
However, Checkout.com managed to significantly reduce its losses. The London-headquartered firm posted a $7.9m loss for 2023, a 94% decrease from the $137.7m loss in 2022.
In response to these reports, Checkout.com emphasised that the December filings do not fully capture the company’s financial performance.
The company explained: “These filings represent only a fraction of our global business and should not be considered a reflection of our overall performance. Our global results continue to show strong growth and success, with over 40% net revenue growth in 2024.”
Checkout.com also addressed claims regarding job cuts, as reported by UKTN. The company clarified: “Our employee headcount did not drop by 72%. The reduction reported reflects an internal transfer between two UK entities (Checkout Ltd and Checkout Technology Ltd). Globally, our headcount grew from 1,700 in 2023 to over 1,900 at the end of 2024, with plans for continued growth in 2025.”
