H2 2018
Shareholder letter
Robust expansion of Adyen’s global footprint
Built-out acquiring and unified commerce capabilities
Substantial expansion of suite of local payment methods, including high-volume domestic card schemes
Merchant-led geographic growth of the Adyen team
Strengthened unified commerce offering
Expanded functionality on point-of-sale (POS) terminals
Invested in POS operations and partnerships to enhance scalability on the back of increased merchant traction
Extended core offering to include easy reconciliation feature (Sales Day Payout)
Accelerating innovation on the single platform
Moved to weekly release cycles — revving up the pace of deployment of new updates on the platform
First to market with in-house built 3DS 2.0 solution
Risk product now available as standalone API
Sustained profitable growth
Increased share of full-stack vs. gateway-only volume on platform as a reflection of our growing acquiring footprint
Net revenue growth across all regions with > 100% year-on-year net revenue growth for North America and Asia-Pacific
Slower operating expenses growth in H2 relative to H1 due to the phasing of some operating expenses spend categories
Enterprise
This segment has historically been our key growth driver, and we saw a continuation of this in the second half of 2018.
Enterprise volume evolution, including share of total processed volume on the platform (%) in EUR billions. Note that 2017 numbers represent total processed volume
Unified Commerce
We continue to see strong growth in this space due to the strength of our offering, and are now expanding into new verticals.
POS volume evolution, including share of total processed volume on the platform (%) in EUR billions
Mid-market
We are seeing some good early signs in the mid-market, which we view as the next-adjacent segment to enterprise.
Mid-market volume evolution, including share of total processed volume on the platform (%) in EUR billions. Please note that in 2017 we did not differentiate mid-market volume
Interim Condensed Consolidated Financial Statements
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