Adyen N.V.

Earnings Release • Oct 29, 2025

Adyen publishes Q3 2025 Business Update

Adyen delivers strong broad-based net revenue growth

AMSTERDAM, October 29, 2025 — Adyen (AMS: ADYEN) today provided a business update for the quarter ending September 30, 2025.

"We're pleased with another quarter of strong, diversified growth. Our focus on growing our customer base and deepening existing relationships continues to pay off, resulting in solid momentum across all regions," said Ethan Tandowsky, CFO.

Highlights for the third quarter of 2025

• Net revenue was €598.4 million, up 20% year-over-year ("YoY") (up 23% on a constant currency basis).
• Processed volume was €346.9 billion, up 8% YoY, or up 19% YoY excluding a single large-volume customer.
• Platforms net revenue reached €68.6 million, up 50% YoY, reflecting continued underlying momentum in the SaaS segment.
• Unified Commerce net revenue reached €194.8 million, up 32% YoY, primarily driven by retail, hospitality, and entertainment.
• Digital net revenue reached €335.0 million, up 10% YoY, driven by solid momentum in verticals such as content & subscriptions and delivery & mobility.

Financial Objectives

Adyen's long-term opportunity remains significant. As we approach the end of the period covered by our financial objectives, we are refining our net revenue growth objective to reflect our current assessment of the upcoming year.

• Net revenue growth: We expect annual net revenue to grow between the lowand mid-twenties through 2026. For 2025, we continue to expect full-year net revenue growth to be broadly in line with H1 2025.
• EBITDA margin: We aim to improve EBITDA margin to levels above 50% in 2026, as we expect to benefit from operating leverage inherent to our business model.
• Capital expenditure: We aim to maintain a sustainable capital expenditure level of up to 5% of our net revenue.

This press release highlights key information and results from Adyen's Q3 2025 Business Update. Our full Q3 2025 financial results can be found here. Today, at 3PM CET, Adyen will host a Business Update call with our CFO, Ethan Tandowsky. You can access the livestream here. An audio recording will be made available shortly after on the same webpage.

About Adyen

Adyen (ADYEN:AMS) is the financial technology platform of choice for leading companies. By providing end-to-end payments capabilities, data-driven insights, and financial products in a single global solution, Adyen helps businesses achieve their ambitions faster. With offices around the world, Adyen works with the likes of Meta, Uber, H&M, eBay, and Microsoft.

Important Legal Information

This press release contains information that qualifies, or may qualify, as inside information within the meaning of Article 7(1) to (4) of Regulation (EU) No 596/2014 (Market Abuse Regulation).

Any person who comes into possession of this document must inform themselves about and comply with any legal restrictions governing possession, distribution, or use of the document.

Forward-looking statements are not facts and only represent the current views and assumptions of Adyen N.V. ("Adyen") regarding future events, many of which are by nature inherently uncertain and beyond Adyen's control. Factors that could cause actual results to deviate materially from those anticipated by forward-looking statements include, but are not limited to, macroeconomic, demographic and political conditions and risks, actions taken and policies applied by governments, financial regulators and private organizations (including payment schemes and credit rating agencies), market conditions and turbulence in financial and other markets, and the success of Adyen in managing the related risks. Subject to statutory obligations, Adyen does not intend to publicly update or revise forward-looking statements to reflect events or circumstances after the date the statements were made, and assumes no obligation to do so.

Adyen does not consent to, authorize, endorse, support, encourage, or participate in, directly or indirectly, unsponsored depository receipt ("DR") programs regarding Adyen securities. Adyen specifically disclaims any liability whatsoever arising out of or in connection with any unsponsored DR program.

The information in this press release and the Q3 Business Update is unaudited.