Adyen cuts margin outlook despite strong growth
The payments processor increases payment volume but lowers its margin target for 2026.
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Adyen recorded higher revenue and payment volume than analysts expected in the third quarter. Nevertheless, the Dutch fintech company is lowering its forecast for its operating margin in 2026, partly because of additional investment in recent acquisitions, according to the company.
Adyen reported revenue of €738.1 million for the third quarter. That is 23 per cent more than a year earlier and slightly above the average analyst expectation of €730.3 million, Reuters reported based on the company update.
Total payment volume came to €451.1 billion, compared with a market expectation of approximately €435 billion. Adyen attributed the growth to existing and new customers and to the first full contribution from the acquired companies Talon.One and Orb.
At the same time, Adyen expects an operating margin of approximately 50 per cent for 2026 as a whole. Previously, the expectation was around 52 per cent. The company also said it had scrapped its medium-term margin target to retain room for investment.
According to Adyen, the higher costs are linked to expanding the teams at Talon.One and Orb and to further investment in growth. Adyen is maintaining its expectation that net revenue will increase by 21 to 23 per cent this year at constant exchange rates.
Whether the additional investment will ultimately generate sufficient new revenue remains to be seen. Adyen said it would publish its outlook for 2027 with its annual results in February.
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The key figures and revised outlook appear in the company update and are independently described by Reuters. No unverified quotations or speculative causes have been presented as facts.
- confirmed Adyen reported revenue of €738.1 million in the third quarter. — Mentioned in Reuters' summary of the quarterly update. source
- confirmed Payment volume amounted to €451.1 billion. — Mentioned in the same Reuters source. source
- confirmed Adyen is lowering its expected margin for 2026 to approximately 50 per cent. — Mentioned in the company update and by Reuters. source
- confirmed The outlook for 2027 will be published with the annual results in February. — Mentioned in the quarterly information. source
Editor's note
The revenue, volume and margin figures are taken from the quarterly update and Reuters. The precise contribution of the individual acquisitions has not been disclosed.Sources
- Dutch fintech firm Adyen's revenue tops forecast; trims 2026 margin goal — Reuters via Euronext
- Business Update - Q3 2026 — Adyen
More on this in Dutch media
- NU.nl — „adyen fintech”
- De Telegraaf — „adyen fintech”
- Trouw — „adyen fintech”