POPA ReconKraken Parent Payward Reports $508M Q2 Revenue as Adjusted EBITDA Falls to $23M
Kraken Parent Payward Reports $508M Q2 Revenue as Adjusted EBITDA Falls to $23M Payward, the parent company of Kraken, reported Q2 adjusted revenue of $508 million, up 17% year over year, while adjusted EBITDA fell to $23 million from about $80 million a year earlier. Total platform transaction volume declined to $310 billion, while funded accounts rose 42% to a record 6.6 million. Asset-based and other revenue accounted for 60% of total revenue, up from 55% a year earlier, pointing to a broader revenue mix despite weaker trading activity and lower profitability. — link
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