PAX Technology Announces 2024 Financial Results

PAX Global Technology Limited (stock code: 00327.HK), the world leader in payment terminal solutions, today unveiled its financial results for the year ended 31 December 2024, reporting total revenues of USD 777.9 million.

This modest decrease from the previous year underscores a strategic recalibration and resilience in a challenging global economic climate. The Group has continued to innovate aggressively, introducing new smart payment terminals like the handheld models A8900 and A99, along with the unattended payment terminal model IM25. The latest product lineup also features the A920 MAX 5G, an industry first with 5G connectivity catering to growing demand, and the refreshed A77.

EMEA Region Performance

PAX cemented its leadership in the EMEA region (Europe, the Middle East, and Africa), reporting revenues of USD 283.4 million, the largest contribution to the company's global revenue. This success was propelled by the widespread adoption of the iconic A920Pro smart payment terminal model - renowned for its elegance and functionality - and has become a staple across the majority of EMEA countries.

PAX has made substantial inroads in key European markets, such as the United Kingdom, Italy, France, and Greece, delivering advanced payment solutions - coupled with the industry-leading MAXSTORE device management platform and app store - which are tailored to diverse sectors including retail & hospitality, transportation, and sports venues. However, demand in a few countries, such as Germany and Spain, has proven to be volatile.

In the Middle East, PAX's strategic expansion efforts have been fruitful, with significant revenue growth noted particularly in the GCC countries where Saudi Arabia and the United Arab Emirates are important markets.

In Africa, PAX is actively expanding its footprint in the UEMOA region (the West African Economic and Monetary Union) and South Africa, where an increasing number of customers are adopting the portable A920Pro and the multilane retail A35 payment terminal models.

Financial Highlights of 2024

• Revenue: PAX recorded a global revenue of USD 777.9 million, with EMEA emerging as the leading revenue region, accounting for 36% of total revenue. LACIS followed with 31%, APAC contributed 18%, and USCA made up 15%.
• Profitability: The company achieved a profit of USD 92.7 million, maintaining a solid net profit margin of 11.9%.
• Robust Cash Flow Reinforces Stability: Net cash generated from operating activities reached USD 149.6 million in 2024, highlighting PAX Technology’s strong cash flow generation and financial strength which ensures the company’s long-term market presence and reliability as a supplier, providing customers with confidence in our enduring commitment and operational continuity.
• Dividend: The board proposed a final dividend of HKD 0.25 per share, reflecting a commitment to rewarding shareholders while maintaining strong financial health.
• Reinvestment in Innovation: PAX reinvested 11.3% of its revenue into research and development, underscoring its commitment to pioneering new technologies and maintaining leadership in the payment solutions industry.

Innovation and Customer Value

In line with its commitment to innovation, PAX Technology's SaaS offerings saw impressive growth, with revenue increasing by 30.5% year-over-year. The MAXSTORE platform, which during the year grew to supporting over 14 million payment terminals across more than 300 licensed marketplaces in over 100 countries, now offers access to more than 14,000 diverse software applications and services, enhancing operational efficiencies for customers globally.

As PAX moves forward, the company remains focused on penetrating new markets, enriching product offerings, and delivering unmatched value to customers and stakeholders.

For the full official press release, click here.

About PAX Global Technology Limited

PAX Global Technology Limited (Stock Code: 00327.HK) is a leading provider of electronic payment terminal solutions worldwide. As one of the fastest-growing suppliers in the payment industry, PAX has advanced manufacturing facilities, robust R&D capabilities, and a global network of reputable channel partners. The company has deployed 100 million payment terminals in more than 120 countries