Company: PSEWF
Filing Date: 2025-03-04
Form Type: 20-F
Source: 0000950170-25-032340
Chunk: 109

Company: Paysafe Ltd
Filing Date: 2025-03-04
Form: 20-F
Item: Item 5
Chunk 109
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 Share-based compensation                                                                  38,534                 28,873  
  Impairment expense on goodwill and intangible assets                                         823                  1,254  
  Restructuring and other costs (1)                                                          5,178                  6,061  
  Loss on disposal of subsidiaries and other assets, net                                       801                    386  
  Other income, net (2)                                                                    (21,475                (13,081  
  Adjusted EBITDA                                             $                            452,054      $         458,663  

(1)

As noted above, restructuring and other costs include acquisition costs related to the Company’s merger and acquisition activity and restructuring costs. This includes certain professional advisory costs, relocation costs and legal costs. For the year ended December 31, 2024, restructuring costs were $2,614, and other costs were $2,564, which primarily consisted of legal costs. For the year ended December 31, 2023, restructuring costs were $3,168, and other costs were $2,893, which primarily consisted of legal costs.

(2)

As noted above, other income, net, consists primarily of foreign exchange gains and losses and fair value movement in contingent consideration, derivative instruments and warrants, as well as gains on debt repurchases. For the year ended December 31, 2024, other income, net includes a gain on foreign exchange of $11,316, a gain on derivative instruments of $3,994, gains on debt repurchases of $1,696 and other income of $4,776. This was partially offset by a fair value loss on contingent consideration of $329. For the year ended December 31, 2023, other expense, net includes fair value gain of warrant liabilities of $1,671, loss on foreign exchange of $7,434, fair value loss on contingent consideration of $948, gain on debt repurchases of $10,758, gain on derivative instruments of $3,314 and other income of $5,720.

Analysis by Segment

We operate in two operating segments: Merchant Solutions and Digital Wallets. Our reportable segments are the same as our operating segments. Segment Adjusted EBITDA is reported to the Chief Operating Decision Maker for purposes of making decisions about allocating resources to the segments and assessing their performance. Segment Adjusted EBITDA includes the revenues of the segment less operating expenses that are directly related to those revenues and an allocation of shared costs and excludes the impact of