Kraken parent Payward reports $487m Q3 total platform margin and drops Adjusted Revenue as headline metric
MARKETSPaywardcoinbrief/daily · 1 source
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What happened
Payward, the private company behind the crypto exchange Kraken, has changed the main number it uses to report its results. Its third-quarter figure for the new measure, total platform margin, was $487 million. Payward still shows its older measure, Adjusted Revenue, for comparison only.
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What to do
- Compare the new total platform margin figure only with Payward's restated numbers, since the metric is not the same as the old Adjusted Revenue.
- Note that the Q3 figures are unaudited and the company has not said when, or whether, its confidential IPO filing will proceed.
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