May 22nd, 2024

Nuvei Corp. reports US$4.8-million loss in first quarter as revenues rise

By The Canadian Press on May 7, 2024.

The Nuvei logo is shown in this undated handout photo. THE CANADIAN PRESS/HO-Nuvei

MONTREAL – Nuvei Corp. says it lost US$4.8 million in the first quarter of 2024, compared with a loss of US$8.3 million a year earlier.

The Montreal-based fintech company says revenues were US$335.1 million, up from US$256.5 million during the same quarter last year.

Net loss per diluted share was five cents US, compared with seven cents US a year earlier.

Just over a month earlier, the company said it was going to be taken private by U.S. private equity firm Advent International in a deal valuing the company at about US$6.3 billion.

The deal is expected to close in late 2024 or the first quarter of 2025.

Nuvei went public less than four years ago, in what was the Toronto Stock Exchange’s largest tech IPO ever.

This report by The Canadian Press was first published May 7, 2024.

Companies in this story: (TSX:NVEI)

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