Finance
Adyen's soft payment volume overshadows revenue growth, shares tumble 15%
Published by Global Banking & Finance Review®
Posted on February 12, 2026
2 min readLast updated: February 12, 2026
Quick Summary
Adyen's revenue grew by 21% in the second half of 2025, reaching 1.27 billion euros. The company forecasts continued growth and a rising EBITDA margin.
Adyen's soft payment volume overshadows revenue growth, shares tumble 15%
Adyen's Financial Performance Overview
Feb 12 (Reuters) - Dutch payments processor Adyen's revenue grew by more than a fifth in the second half of 2025, but weaker than expected transaction volumes and a cautious guidance, seen as signs of slowing momentum, sent its shares falling 15% on Thursday.
The company's processed volumes of 745 billion euros ($885 billion) rose 19% in the second half, but fell short of market expectations which stood at 771 billion euros, according to analysts from KBC Securities, though they said higher fees per transaction partially offset the shortfall.
The results and outlook "might not be enough to turn around the very negative sentiment on the payment sector we have seen recently", the analysts said in a note to investors.
Revenue and Transaction Volume Analysis
Adyen, which processes card and digital wallet payments for companies like Uber and H&M, said its net revenue grew 21% on a constant currency basis to 1.27 billion euros in the July-December period.
Future Revenue Growth Forecast
It forecast revenue growth of 20-22% for 2026, and said it expected its core profit margin to be above 55% by 2028, compared with 53% last year.
Unified Commerce Growth
The Amsterdam-based company continued to gain ground in unified commerce, processing 173 billion euros worth of transactions through in-store terminals in the second half of the year, up 26% from a year earlier, as it expanded partnerships with key clients including Starbucks and Uber.
($1 = 0.8420 euros)
(Reporting by Leo Marchandon in Gdansk, editing by Milla Nissi-Prussak)
Key Takeaways
- •Adyen reported a 21% revenue increase in the second half of 2025.
- •Full-year revenue rose to 2.36 billion euros.
- •EBITDA margin projected to exceed 55% by 2028.
- •Processed 173 billion euros in transactions, up 26%.
- •Strengthened position against PayPal and Stripe.
Frequently Asked Questions about Adyen's soft payment volume overshadows revenue growth, shares tumble 15%
1What is revenue growth?
Revenue growth refers to the increase in a company's sales over a specific period, often expressed as a percentage. It indicates how well a company is performing in generating income.
2What is EBITDA margin?
EBITDA margin is a financial metric that measures a company's operating performance. It is calculated by dividing earnings before interest, taxes, depreciation, and amortization by total revenue.
3What is transaction processing?
Transaction processing involves the handling of transactions, including the authorization, processing, and settlement of payments made through various methods such as credit cards and digital wallets.
4What is a core profit margin?
Core profit margin is a measure of a company's profitability, calculated as the ratio of core earnings to total revenue. It reflects the efficiency of a company's core business operations.
5What is wallet share?
Wallet share refers to the percentage of a customer's total spending within a particular category that a company captures. It indicates how much of a customer's budget is allocated to a specific brand or service.
