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  5. NVEI: What do you think of the latest result (published may 10th) - The market doesn't seam to be impressed. [Nuvei Corporation Subordinate Voting Shares]
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Q: What do you think of the latest result (published may 10th) - The market doesn't seam to be impressed.

Asked by André on May 10, 2022
5i Research Answer:

EPS of 46c was 13% better than estimates. Revenue of $214M was 1% better. EBITDA of $91.6M was 9% better. Revenue rose 43%. However, guidance was lowered: 2022 sales are expected to be $940M to $980M, vs estimates $865M. 2Q revenue guidance was lowered to $217M ($230M estimates). Guidance reflects tough crypto headwinds, f/x changes and marketing spending. Investors do not like the guidance, nor the $33.1M in share based payments. However, the latter was due to acquisitions and basically comes with any tech deal these days. Good growth is still expected overall, it is debt free with excess cash and highly profitable. It is down to 20X earnings, which we consider attractive for an investor willing to ride out the current market turmoil.