Adyen Sees POS Volumes Surge 32% and Growing Omnichannel Demand

Adyen

Adyen posted first-half results that showed continued momentum in omnichannel commerce, particularly among clients expanding globally into new regions, and where platforms and localized payment methods are seeing strength and popularity.

North America was the fastest growing region with net revenue growth up 30% year over year, followed by EMEA, where net revenues were up 25% year on year; the Asia Pacific region gained 15% in net sales as measured against last year.

Net revenue for the Dutch firm was 913.4 million euros, up 24% year on year.

Investors cheered the results, sending the company’s ADRs up 12% in intraday trading on Thursday, (Aug. 15).

The company said in its earnings materials that during the half, the company processed volumed were 619.5 billion euros, up 45% year over year.

The company’s Unified Commerce offering, as detailed in its filings, saw volumes surge 29% year over year, and point-of-sale (POS) volumes gathered 32%. POS volumes were 15% of total processed volumes. Within the Unified Commerce segment, hospitality was the fastest growing segment, gaining 55% over last year’s first-half levels.

Growth in Unified Commerce Customers

Also during the first half, the company grew the number of Unified Commerce customers (the platform connects far-flung operations and channels of a given business) processing in multiple regions to 540, up 79 customers from last year. The number of transacting Unified Commerce terminals grew by 60,000 to 292,000 in the latest first half. The number of platform customers processing over 1 billion euros grew by seven customers to a recent 22 customers.

During the conference call with analysts, Adyen Chief Financial Officer Ethan Tandowsky noted that Unified Commerce “is becoming more and more relevant as time goes by … not only to more verticals, but also by helping them provide the right experience to their own customer base. Whereas we started with small formats and luxury retailers, we continue to grow with them and to expand to a wider set of verticals,” he said, including large format retail.

Co-CEO Ingo Uytdehaage said there had been notable growth in digital content and subscription services. “We have a very strong offering in recurring payments,” he said on the call, “which results in higher authorization rates.” He offered up an example where a live sports streaming service client was able to lift authorization rates by utilizing Adyen by 1.5%, which can be a significant improvement.

Management noted on the call that net revenue growth may be lower in the second half of the year compared to rates seen in the first half of 2024, due to the stronger comps. Momentum continues, according to commentary on the call, so revenue growth should be within previously guided ranges.