Checkout.com has provided clarification regarding its financial position in light of recent reports concerning profit losses and significant staff cuts.
The payments processor’s response follows extensive media coverage subsequent to the release of its 2023 UK accounts filed with Companies House. The reports indicated a 13% decline in transaction processing, totaling $204 million, a 23% drop in gross profits to $57 million, and a staggering 73% increase in losses, reaching $306 million.
In its statement, Checkout.com emphasized, “These filings represent only a fraction of our global business and should not be viewed as a reflection of our overall performance. Our global results continue to demonstrate strong growth, with over 40% net revenue growth anticipated in 2024.”
The company also addressed claims regarding its workforce: “Our employee headcount did not decrease by 72%. The reduction reported is due to an internal transfer between two UK entities (Checkout Ltd and Checkout Technology Ltd). On a global scale, our headcount increased from 1,700 in 2023 to over 1,900 by the end of 2024, with plans for continuous growth in 2025.”