Paymentus Holdings Rallies 25%+ After Hours on Q3 Earnings and Revenue Beats

PAY gained 25.9% to $33.50 shortly before 4:30 p.m. ET after reporting the Q3 earnings came in at $0.15 per share, beating the $0.09 that analysts had reportedly forecast. Revenues totaled $231.6 million, exceeding the $190.6 million that analysts had expected, according to published reported.

"Paymentus has delivered excellent results to date in 2024, with third quarter revenue, contribution profit and adjusted EBITDA increasing 51.9%, 30.1% and 58.2% year-over-year, respectively," company founder and CEO Dushyant Sharma said in releasing the latest numbers. "We exited the quarter with strong bookings and backlog, and are confident in our ability to continue to deliver on our near- and longer-term growth and strategic objectives."