Adyen Shares Tumble on Weaker-Than-Anticipated Growth Outlook
Amsterdam-based payments processing giant Adyen experienced a significant stock price decline, shedding as much as 20% in early trading. This sharp sell-off followed the company’s release of its latest financial guidance, which indicated a net revenue growth forecast and payment processing volumes that fell slightly short of market expectations.
For the full year 2026, Adyen projected net revenue growth in the range of 20% to 22%. This projection comes in below the 22.8% year-on-year growth anticipated by analysts, according to estimates compiled by LSEG.
In its communication to shareholders, Adyen attributed the outlook to a robust pipeline and the continued maturation of its 2025 customer cohort, which provides a solid foundation for the upcoming fiscal year. The company anticipates that overall market volume growth will likely mirror the trends observed in 2025, a reflection of ongoing macroeconomic uncertainties.
During the second half of the year, Adyen processed a total of 745.3 billion euros ($885.5 billion) in payments. This figure fell short of the 771-billion-euro revenue estimate provided by KBC Securities.
KBC Securities noted in a research update that while Adyen’s current results and its outlook for the next year are “largely okay,” they may not be sufficient to counteract the prevailing negative sentiment that has recently impacted the payments sector.
As of 11:15 a.m. local time, Adyen’s stock was down approximately 16%, continuing a downward trend that has seen its shares decline around 16% year-to-date.
Reviewing Adyen’s performance for the second half of the year, the company reported a 17% year-over-year increase in net revenue on a reported basis, reaching 1.27 billion euros. Both the Europe, Middle East, and Africa (EMEA) and North America regions demonstrated consistent 17% growth.
However, Adyen indicated that the acceleration in net revenue gains was moderated by slower growth from online retailers headquartered in the Asia-Pacific region and the impact of a weaker U.S. dollar. Net revenue from its APAC client base saw a slight uptick, growing by 14%, a performance largely driven by the deepening of relationships with existing customers, according to the company.
This latest market reaction highlights the sensitivity of tech and payment stocks to growth forecasts, especially in a climate where investors are closely scrutinizing forward-looking guidance. Adyen has experienced notable stock volatility in recent years; for instance, its share price experienced a substantial 39% drop in August 2023, following the announcement of lower-than-expected sales growth and a decline in profits for the first half of that year. The current market response suggests that investors are looking for more robust growth trajectories from Adyen to regain confidence in the company’s long-term prospects.
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