Why Paya Holdings Inc. (PAYA) stock performed well on Friday?

Paya Holdings Inc. (PAYA) stock surged 8.57% in after-hours on Friday, August 27, 2021, and closed at $11.02. In the regular trading session of Friday, PAYA’s stock gained 8.32%. PAYA shares have fallen 0.98% over the last 12 months, and they have moved up 1.20% in the past week. Over the past three months, the stock has gained 2.32%, while over the past six months, it has declined 19.32%.

Let’s see is there any reason behind its recent gains on Friday?

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PAYA Warrant’s exchange offer

On August 13, 2021, Paya Holdings Inc. (PAYA) commenced an exchange offer and consent solicitation relating to its outstanding public warrants and private placement warrants to purchase shares of common stock, par value $0.001 per share of the Company. The purpose of the Offer and Consent Solicitation is to simplify the Company’s capital structure and reduce the potentially dilutive impact of the warrants, thereby providing the Company with more flexibility for financing its operations in the future.

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PAYA recent financial results announcement

On August 06, 2021, Paya Holdings Inc (PAYA) reported financial results for its second quarter ended June 30, 2021.

Q2 2021 financial highlights

  • PAYA reported total revenue of $63.9 million for Q2 2021 compared to $51.1 million for the second quarter of 2020.
  • In Q2 2021, gross profit was 33.8 million compared to $26.2 million in Q2 2020.
  • The company’s net income was $3.1 million in Q2 2021 compared to $0.6 million in Q2 2020.
  • Adjusted EBITDA was $16.8 million in Q2 2021 compared to $14.2 million for the second quarter of 2020.
  • Earnings per basic and diluted share were $0.02 in Q2 2021 compared to earnings per basic and diluted share of $0.01 in Q2 2020.
  • The company had $135.6 million of cash and $250.0 million of total debt on June 30, 2021.

The financial outlook for FY 2021

For FY 2021, the company is expecting

  • Revenue in the range of $244.0 million to 248.0 million.
  • Gross margin in the range of 52% to 53%.
  • Adjusted EBITDA in the range of $64 million to $68 million.

PAYA partnership with RECUR360

On July 13, 2021, Paya announced a strategic partnership with RECUR360, a cloud-based software and automation solution provider which offers recurring payment, invoicing, and collection capabilities across many B2B verticals. Through the partnership, RECUR360 will offer its clients enhanced capabilities and support for integrated card and ACH while also tapping into new, underserved markets such as wholesalers, distributors, and field service providers.

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Well, as of this writing, we have no recent development to justify its gains on Friday. we are not sure how it will commence the new trading week on Monday

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