EVO Reports Fourth Quarter and Year-End 2019 Results

EVO Payments (NASDAQ:EVOP) announced its fourth quarter and year-end 2019 financial results.

As quoted in the press release:

For the fourth quarter ended December 31, 2019, reported revenue was $129.4 million, compared to $150.8 million in the prior year, which reflects the adoption of Accounting Standards Codification Topic 606, Revenue from Contracts with Customers (“ASC 606”), effective January 1, 2019. As required for comparability purposes in the year of adoption, the Company also reports adjusted revenue to exclude network fees. Adjusted revenue for the fourth quarter was $160.0 million, compared to $150.8 million in the prior year, an increase of 6%. On a currency neutral basis, adjusted revenue for the fourth quarter increased 7%. On a GAAP basis for the fourth quarter, the Company recognized a net loss of $3.2 million, or ($0.09) per share, an improvement of 84% compared to the prior year. Adjusted EBITDA increased 8% to $48.1 million for the quarter. On a currency neutral basis, adjusted EBITDA grew 9% over the prior year.

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