Paysafe Limited (NYSE:PSFE) today announced financial results for the first quarter of 2026.

For the first quarter of 2026, Paysafe reported revenue of $442.7 million, an increase of 10%, compared to $401.0 million for the first quarter of 2025. Organic revenue growth was 8%, comprised of 7% organic growth from Digital Wallets and 9% organic growth from Merchant Solutions.

Digital Wallets benefited from positive momentum and active user growth in Latin America, coupled with strong growth from PaysafeWallet in Europe. In Merchant Solutions, growth was driven by e-commerce, attributable to robust iGaming volumes in North America. First quarter growth was further supported by the company’s improved sales efficiency and go-to-market execution, including increased investment in marketing.

Net loss for the first quarter widened to $36.5 million, or ($0.71) per diluted share, compared to $19.5 million, or ($0.33) per diluted share, in the prior year period, mainly reflecting an increase in selling, general and administrative expense. This increase was primarily driven by an increase in share-based compensation of $9.9 million, mainly due to a one-time share award granted to a majority of the company’s employees, as well as an increase in credit losses of $9.7 million.

Adjusted net income for the first quarter was $21.0 million, an increase of 1% compared to $20.9 million in the prior year period.

Adjusted EPS for the first quarter was $0.41, an increase of 21%, compared to $0.34 in the prior year period, reflecting the benefit of a reduced share count.

Adjusted EBITDA for the first quarter increased 4% to $99.2 million, compared to $95.2 million in the prior year period as revenue growth was partially offset by an increase in selling, general and administrative expenses (excluding share-based compensation).

Movement in Forex rates was favorable to first quarter revenue and Adjusted EBITDA by $18.9 million and $6.3 million, respectively.

First quarter operating cash flow was $63.9 million, compared to $52.5 million in the prior year period, which was mainly driven by increased revenue and an increase in realized foreign exchange gains, partly offset by increased outflows from working capital. Unlevered free cash flow was $66.9 million, compared to $57.3 million in the prior year period.

As of March 31, 2026, total cash and cash equivalents were $257.2 million, total debt was $2.5 billion and net debt was $2.2 billion. Compared to December 31, 2025, total debt decreased by $121.8 million, reflecting net repayments of $104.3 million, as well as fluctuations in the EUR/USD exchange rate, which decreased total debt by $19.9 million.