Kraken parent Payward posts Q3 profit rebound but earnings remain well below last year
MARKETSPaywardcoinbrief/daily · 1 source
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What happened
Payward's Q3 adjusted EBITDA reached $60 million, up from $23 million in Q2 but down 67% year on year, per a Bloomberg report citing a shareholder letter. Average assets on platform fell 21% to $43 billion, while constant-price client assets rose 29% to $71 billion. Total Platform Margin, now the headline metric, was $487 million, up 12% quarter on quarter and down 12% year on year. Payward's share of industry spot volume rose to 6.5% in September from 3.3% a year earlier. The Q3 release does not mention the IPO; the Q4 figures are the next thing to watch.
For experienced traders · Written by AI from 1 source · Wrong?
What to do
- Watch Payward's fourth-quarter results to see whether the profit rebound continues into 2027.
- Watch for any announcement on the timing of Kraken's US listing, which currently has no date set.
Written by AI from the sources, checked against them
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Who reported · 1 outlet
BeInCrypto