Amsterdam · November 07, 2024
Adyen publishes Q3 2024 Business Update
Adyen achieves further growth across its single platform driven by continued expansion with existing customers
AMSTERDAM, November 7, 2024 — Adyen (AMS: ADYEN) today provided a business update for the quarter ending September 30, 2024. “As we continue to build Adyen for the long-term, the third quarter of 2024 marked a period of strong growth and continued innovation,” said Ethan Tandowsky, CFO. “Our net revenue growth of 21% at constant currency was driven by our ability to consistently execute on our land-and-expand strategy with our existing customers, in-line with the building blocks that we outlined in 2023.” “As we look towards the end of the year and into 2025, we remain confident in the vast opportunity ahead and in our ability to continue executing on our long-term vision.”
Highlights for the third quarter 2024
Net revenue was €498.3 million in Q3 2024, up 20% year-over-year (“YOY”).
On a constant currency basis, net revenue growth was 21% YOY.
Processed volume landed at €320.6 billion, up 32% YOY.
Platforms remained our fastest growing pillar overall as we continue to scale our customer base.
Unified Commerce demonstrated strong growth as we further diversified our vertical offering.
Digital continued to show consistent underlying growth trends.
This press release only partially covers information and results from Q3 2024. Our full Q3 2024 financial results including additional context on how our pillar growth and the Adyen team have developed over the period, can be found here. Today, at 3 PM CET, Adyen will host a Business Update call with our CFO, Ethan Tandowsky. You can access the livestream here. An audio recording will be made available shortly after on the same webpage.
About Adyen
Adyen (ADYEN:AMS) is the financial technology platform of choice for leading companies. By providing end-to-end payments capabilities, data-driven insights, and financial products in a single global solution, Adyen helps businesses achieve their ambitions faster. With offices around the world, Adyen works with the likes of Meta, Uber, H&M, eBay, and Microsoft.
The information in this press release and the Q3 Business Update is unaudited.
Important Legal Information
This press release contains information that qualifies, or may qualify, as inside information within the meaning of Article 7(1) to (4) of Regulation (EU) No 596/2014 (Market Abuse Regulation).
Any person who comes into possession of this document must inform themselves about and comply with any legal restrictions governing possession, distribution, or use of the document.
Forward-looking statements are not facts and only represent the current views and assumptions of Adyen N.V. (“Adyen”) regarding future events, many of which are by nature inherently uncertain and beyond Adyen’s control. Factors that could cause actual results to deviate materially from those anticipated by forward-looking statements include, but are not limited to, macroeconomic, demographic and political conditions and risks, actions taken and policies applied by governments, financial regulators and private organizations (including payment schemes and credit rating agencies), market conditions and turbulence in financial and other markets, and the success of Adyen in managing the related risks. Subject to statutory obligations, Adyen does not intend to publicly update or revise forward-looking statements to reflect events or circumstances after the date the statements were made, and assumes no obligation to do so.
Adyen does not consent to, authorize, endorse, support, encourage, or participate in, directly or indirectly, unsponsored depository receipt (“DR”) programs regarding Adyen securities. Adyen specifically disclaims any liability whatsoever arising out of or in connection with any unsponsored DR program.