Payward reported $60 million in third-quarter adjusted EBITDA on Friday, which is a 66% drop from the $178.6 million it posted a year earlier. Total platform margin rose to $487 million in Q3 from $436 million in Q2, but this figure fell 12% year over year. Customers transacted $353 billion across Payward platforms during the quarter, representing a 30% decrease from a year earlier despite a 22% increase from the second quarter. The company ended September with 7.1 million funded accounts, up 37% year over year, while billable accounts grew 74% year over year to 1.5 million.
New products and AI tools
Payward plans to add prediction markets for U.S. clients to its roadmap. Chief Commercial Officer Mark Greenberg discussed a possible rollout on CNBC last December, though the company gave no planned launch date on Friday. Payward also intends to offer stock perpetual futures through its own CFTC-regulated exchange, clearinghouse, and broker. The company aims to test a U.S. credit card, settle U.S. dollar wires through its Federal Reserve master account, and fund lending in Europe using customer deposits.
| Metric | Q3 Value | Comparison |
|---|---|---|
| Adjusted EBITDA | $60 million | Down 66% YoY |
| Total Platform Margin | $487 million | Down 12% YoY |
| Funded Accounts | 7.1 million | Up 37% YoY |
Payward is developing a separate AI agent for personal finance that works within limits set by customers. These users would approve each trade or workflow before it runs. This follows the release of Kraken AI in the U.S. app, where clients buy, sell, convert, and stake through chat. Payward also plans to launch xPO to let private companies raise capital by issuing shares onchain, subject to regulatory approval.
