Update - 3 January 2025
Dear Checkout Community,
We want to address recent media coverage following the filing of our UK FY23 financial reports, which has led to incomplete reporting about our global business performance.
- The UK FY23 filings represent the period from 1 January to 31 December 2023 and are part of a standard regulatory requirement for UK entities. These filings represent only a fraction of our global business and should not be considered a reflection of our overall performance. Our global results continue to show strong growth and success with over 40% net revenue growth in 2024.
- Our employee headcount did not drop by 72%. The reduction reported reflects an internal transfer between two UK entities (Checkout Ltd and Checkout Technology Ltd). Globally our headcount grew from 1,700 in 2023 to over 1,900 at the end of 2024, with plans for continued growth in 2025.
- As part of standard regulatory requirements, we file annual reports for UK-specific entities with Companies House. These filings cover Checkout Ltd and Checkout Technology Ltd, only two of our entities, and as such, do not represent global results.
- We are regulated by financial authorities in multiple regions, including the FCA in the UK, the ACPR in France, MAS in Singapore, and many more. Each of these entities will file accounts annually based on the local requirements.
- We have two entities in the UK. In 2023, we separated our regulated function (the financial services we offer) from our technology function (the technology we build). This organisational setup is standard in financial services.
- The UK filings reflect operational adjustments in specific UK entities and are not indicative of our global business performance.
Growth and performance in 2024
2024 was a record-breaking year for the business, with over 40% net revenue growth. We also experienced our largest-ever processing day on Black Friday, up 63% compared to the same period in 2023.
We’ll be publishing more details on our global growth and performance in the coming weeks.
If you have any questions at all, do get in touch with your Checkout Account Manager.
If you are a member of the media and require further information, please contact us
Thank you for your continued partnership. Looking forward to working with you and your teams in 2025
Your Checkout Team
Where the world checks out
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