The Montreal-based payments provider said it has lowered the total volume of transactions, revenue and adjusted EBITDA for the year partly due to “higher volatility and lower volume in digital assets and cryptocurrencies, and a more cautious view of the macroeconomic environment.” Shares of Nuvei closed down nearly 21 per cent Tuesday. (The Logic)

Talking point: Nuvei, which maintained its full-year outlook when it reported its first-quarter earnings in May, now expects US$117 billion to US$121 billion in total payments volume, down from US$127 billion to US$132 billion. It estimates revenue will be between US$820 million and US$850 million instead of US$940 million to US$980 million. Nuvei reported second-quarter net income of US$35.1 million compared to US$38.9 million in the same time last year. It said the drop was primarily from more share-based payments to employees onboarded through acquisitions, as well as other incentive grants. In the quarter, total transactions volume grew 38 per cent and revenue increased 19 per cent.