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We also executed well against our key growth initiatives, including strong progress implementing significant new partnerships; key wins in the education and healthcare verticals; and our acquisition of The Payment Group, a leading integrated payment provider focused on the local government and municipality sectors, which closed on October 1st. Our results this quarter, as well our year-to-date performance, demonstrate the power and durability of integrated payments, particularly in our attractive end markets,” said Jeff Hack, CEO of Paya. (a) Represents acquisition related amortization expense. (d) Represents costs associated with restructuring plans designed to streamline operations and reduce costs including costs associated with the relocation of headquarters from Reston, VA to Atlanta, GA and certain staff restructuring charges, including severance. The conference call will be available by live webcast through the Investors section of Paya’s website at www.Paya.com or by dialing in as follows: Domestic: 1-833-665-0668 All rights reserved. Gross profit was $25.9 million, resulting in a gross profit margin of 50.0%, as compared to $25.8 million with a gross profit margin of 51.0% for the third quarter of 2019. Reconciliations of these measures to the most directly comparable GAAP financial measures are contained herein. Because of these limitations, you should consider EBITDA, Adjusted EBITDA and Adjusted Net Income alongside other financial performance measures, including net income and our other financial results presented in accordance with GAAP. Registration on or use of this site constitutes acceptance of our Terms of Service and Privacy Policy. Disclaimer | Media Contact: Kerry Close 212-784-5717 kclose@groupgordon.com (e) Represents costs incurred to retire certain tools, applications and services that are no longer in use. Paya is headquartered in Atlanta, GA, with offices in Reston, VA, Fort Walton Beach, FL, Dayton, OH, Mt. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. Gross profit represents revenue less cost of services excluding depreciation and amortization. John Fetterman calls Trump's election lawsuits 'mandatorily aired absurdities' and calls out Twitter over its handling of the president's misinformation », Paya to Present at Upcoming Virtual Investor Conferences, Dustin Renn Joins Leading Integrated Payments Provider Paya as Head of Corporate Development/M&A, Paya Holdings Inc. In this role, Humphries will be responsible for communicating the vision and value of Paya’s integrated payments model and technology with shareholders, analysts, and the broader financial community. Total revenue was $51.8 million, an increase of 2.4% from $50.6 million for the third quarter of 2019. Cautionary Statement Regarding Forward Looking Statements. The financial information for the three and nine months ended September 30, 2020 and the three and nine months ended September 30, 2019 included in this press release reflects, and is based upon, information of Paya prior to giving effect to the business combination with FinTech Acquisition Corp. III Parent Corp. completed on October 16, 2020 (as further discussed below). Paya serves more than 100,000 customers through over 2,000 key distribution partners focused on targeted, high growth verticals such as healthcare, education, non-profit, government, utilities, and other B2B goods and services. (f) Represents advisory fees associated with the former owner that we will not be required to pay post public transaction. Segment gross profit margin represents segment gross profit as a percentage of total segment revenue. (c) Represents costs associated with restructuring plans designed to streamline operations and reduce costs including costs associated with the relocation of headquarters from Reston, VA to Atlanta, GA and certain staff restructuring charges, including severance. The company processes over $30 billion of annual payment volume across credit/debit card, ACH, and check, making it a top 20 provider of payment processing in the US and number 6 overall in e-Commerce. Paya serves more than 100,000 customers through over 2,000 key distribution partners focused on targeted, high growth verticals such as healthcare, education, non-profit, government, utilities, and other B2B goods and services. Integrated Solutions segment revenue was $30.4 million, an increase of 2.7% from $29.6 million for the third quarter of 2019. Should one or more of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. The company processes over $30 billion of annual payment volume across credit/debit card, ACH, and check, making it a top 20 provider of payment processing in the US and #6 overall in e-Commerce. Nov 9, 2020. Nov 2, 2020. Paya, leading integrated payments and commerce solution provider, has announced that Matt Humphries has joined as its Head of Investor Relations. The business has built its foundation on offering robust integrations into front-end CRM and back-end accounting systems to enhance customer experience and workflow. (c) Represents non-cash charges associated with stock-based compensation expense, which has been, and will continue to be for the foreseeable future, a significant recurring expense in our business and an important part of our compensation strategy. Data Provided by Refinitiv. Announces Third Quarter 2020 Results, Matt Humphries Joins Leading Integrated Payments Provider Paya as Head of Investor Relations, Canaccord signs on as Paya bull on potential for payments platform integration, Paya Partners With Consumer Lending Provider Artis Technologies, Cost of services exclusive of depreciation and amortization, Selling, general & administrative expenses, Property and equipment, net and Other long-term assets, Deferred tax liability, net and Other long-term liabilities, Changes in operating assets and liabilities, Purchases of property and equipment, net of impact of business acquisitions and Purchases of customer lists. Certain statements made in this press release are "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Commerce Policy | Payment Services segment revenue was $21.4 million, an increase of 1.9% from $21.0 million for the third quarter of 2019. Adjusted EBITDA was $13.5 million, an increase of 10.7% from $12.2 million for the third quarter of 2019. Investor Relations About us Paya is a leading provider of integrated payment and frictionless commerce solutions that help customers accept and make payments, expedite receipt of money, and increase operating efficiencies. On September 21, 2020, the Company entered into a purchase agreement with TPG Holdco, Inc. (“TPG”) to acquire TPG for an aggregate purchase price of approximately $21.0 million in cash. Upon completion of the business combination, the Company changed its name from FinTech Acquisition Corp. III Parent Corp. to Paya Holdings Inc., and its common stock and warrants began trading on the Nasdaq Stock Market under the ticker symbols “PAYA” and “PAYAW,” respectively, on October 19, 2020. Adjusted EBITDA represents earnings before interest expense, income taxes, depreciations, and amortization, or EBITDA and further adjustments to EBITDA to exclude certain non-cash items and other non-recurring items that management believes are not indicative of ongoing operations to come to Adjusted EBITDA. (f) Expenses related to carving out the entity from former Corporate owner Sage PLC including rebranding, technology implementation, consulting and transitional service agreement expenses. TPG specializes in providing integrated payments solutions to local municipalities for court, utility, license and permit payments. Investor Contact: Matt Humphries, CFA. As we continue to expand our business and build long-term shareholder value, Paya is well-positioned to capitalize on the significant opportunities available to us.”. Announces Third Quarter 2020 Results. Paya to Present at Upcoming Virtual Investor Conferences, Dustin Renn Joins Leading Integrated Payments Provider Paya as Head of Corporate Development/M&A, Paya Holdings Inc. Made In NYC | (e) Represents advisory fees associated with the former owner that we will not be required to pay post public transaction. Paya Holdings Inc.Payment Volume($ in millions)(unaudited), Registration on or use of this site constitutes acceptance of our, 'No longer a stock but a full casino': Palantir will lose one-third of its value by year-end after surging more than 300% since going public, short-seller Citron Research says », Pennsylvania Lt. Gov. On October 16, 2020, Paya and FinTech Acquisition Corp. III (“FinTech”), a special purpose acquisition company, announced that they completed the previously announced business combination under which all of the equity interest of GTCR Ultra-Holdings II, LLC was contributed to the Company and a subsidiary of the Company merged with and into FinTech, with each outstanding share of FinTech common stock converting into one share of Paya common stock. The conference call will be available by live webcast through the Investors section of Paya’s website at www.Paya.com or by dialing in as follows: Please register for the webcast or dial into the conference call approximately 15 minutes prior to the scheduled start time. Using these non-GAAP financial measures to analyze our business would have material limitations because the calculations are based on the subjective determination of management regarding the nature and classification of events and circumstances that investors may find significant. To the extent required, statements disclosing the definitions, utility and purposes of these measures are also set forth herein. Paya Holdings Inc.Reconciliation of Net income, (loss) to Adjusted Net Income($ in millions)(unaudited), Paya Holdings Inc.Reconciliation of Net income, (loss) to Adjusted Net IncomeDefinitions. © 2020 Insider Inc. and finanzen.net GmbH ( Imprint ) the definitions, utility and purposes these... Time to discuss the third quarter of 2019 services that are no longer in use 8.7. And Privacy Policy Privacy Policy of 2019 229.3 million of gross debt other..., Credit Suisse 24th Annual Technology Conference, Credit Suisse 24th Annual Technology Conference, Citi financial Virtual! Permit payments 8.0 billion for the third quarter of 2019 2020 at 8:00 a.m. Eastern to... Million, compared to a net loss of $ ( 0.6 ) million for the quarter... Total revenue was $ 8.2 million, an increase of 2.7 % from 29.6... 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