(Montreal) Nuvei saw its first-quarter revenue jump 20% year-on-year, but posted a loss for the first three months of the year due to costs of around US$20 million related to a agreement to acquire the American company Paya Holdings.
The Montreal-based payments technology company reported a net loss of $8.3 million, or 7 cents per share, for its quarter ended March 31.
That result compared with net income of $4.5 million, or 2 cents per share, in the first quarter of last year.
Revenue for the first three months of the fiscal year totaled US256.5 million, down from US214.5 million last year.
On an adjusted basis, Nuvei earned 44 cents per share in its most recent quarter, down from 46 cents per share in the same period a year ago.
Nuvei announced in January that it had reached an agreement that will see it acquire Atlanta-based Paya for US$1.3 billion in cash.
Company in this story: (TSX: NVEI)