Checkout.com Achieves Full-Year Profitability, Surpasses $300B in Volume to Become Key Payment Infrastructure for the Agentic Commerce Era

Checkout.com Announces Full-Year 2025 Profitability and Record Payment Volume

Checkout.com Returns to Full-Year Profitability and Surpasses $300B in Volume, as It Positions for the Era of Agentic Commerce

Checkout.com today announced a return to full-year EBITDA profitability and record-breaking volume in 2025

On February 24, 2026, global payment company Checkout.com announced that it achieved full-year EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) profitability in 2025, with EBITDA margins exceeding 10%. The company's total payment volume reached $300 billion, a 64% increase year-over-year. Net revenue also grew by more than 30% for the second consecutive year.

Founder and CEO Guillaume Pousaz highlighted enterprise customer expansion in the company's 2025 Annual Letter. The "Billion Dollar Club"—merchants processing over $1 billion in annual payment volume—grew from 39 to 63 companies. Over 1,000 enterprise companies including Uber, eBay, Spotify, Temu, Pinterest, ASOS, and Vinted use the platform.

Background and Industry Trends

Checkout.com's return to profitability symbolizes a broader paradigm shift across the fintech industry—from "growth at all costs" to sustainable profitability. The company has been strategically focusing on agentic commerce, and this profitability milestone further strengthens that foundation.

The company raised $1 billion in its Series D in January 2022, reaching a $40 billion valuation. However, the venture market downturn in late 2022 caused its internal valuation to plummet to $11 billion, falling further to $9.35 billion in 2023. Then in September 2025, an employee share buyback program set the valuation at $12 billion, signaling recovery.

While still significantly below the $40 billion peak, full-year profitability serves as critical proof of a sustainable business model. The fintech industry has shifted its evaluation criteria from "growth supremacy" to "unit economics health." Checkout.com's trajectory is one of the clearest examples of this transformation.

Drivers of Profitability and Agentic Commerce Strategy

The performance recovery was driven by platform reliability and expansion into new business areas.

As proof of platform performance, the company maintained 99.999% uptime throughout the year. During Black Friday/Cyber Monday 2025, it processed approximately 100 million transactions worth $5.2 billion, with 95% completed within one second.

Full-scale entry into the U.S. market was another significant milestone. The company applied for a MALPB (Merchant Acquirer Limited Purpose Bank) license in Georgia in October 2025 and received approval in January 2026. This enables direct connection to U.S. card networks, paving the way for direct acquiring in the world's largest e-commerce market.

Alternative payment methods expanded rapidly, with over 50 payment options including Apple Pay, Google Pay, Tabby, TWINT, and Swish. Alternative payment volume doubled with a 104% year-over-year increase.

The issuing business reached a $5 billion annual run rate in Q4 2025, with planned expansion to the U.S. and UAE in 2026.

Most notably, the company is laying groundwork for agentic commerce. Checkout.com is live on Google's Universal Commerce Protocol (UCP) and supports both the Visa Intelligent Commerce and Mastercard Agent Pay frameworks. The strategy is to build a payment "interoperability layer" for an era where AI agents autonomously make purchases on behalf of consumers.

Internal AI adoption is also advancing. AI-driven screening processes reduced due diligence timelines by 83%. Routing of declined transactions is 100% automated. On the development side, the company produces 2.7 million lines of AI-generated code per month, accelerating technical development velocity.

Impact and Applications for E-commerce Businesses

Checkout.com's moves offer three key implications for e-commerce businesses.

Payment infrastructure "agent readiness" becomes a selection criterion. In an era where AI agents handle purchases, whether a payment processor supports agentic payment protocols like UCP, Visa Intelligent Commerce, and Mastercard Agent Pay becomes a critical evaluation factor. Visa predicts agentic commerce will go mainstream in 2026, and delays in adoption directly translate to missed opportunities.

Payment method diversification directly impacts revenue. The 104% year-over-year growth in Checkout.com's alternative payments demonstrates that consumers are actively using payment methods beyond traditional credit cards. Reviewing your e-commerce site's supported payment options—including competitors like Stripe and PayPal—and expanding choices tailored to regional and target customer preferences is essential.

Platform stability and speed are the foundation of the purchasing experience. Metrics like 99.999% uptime and 95% of transactions completing within one second are particularly crucial for peak season revenue. Regularly reviewing your payment provider's SLAs and performance metrics, and considering alternatives when necessary, is advisable.

Conclusion

Checkout.com's full-year profitability carries significance beyond the company's own recovery. Achieving both profitability and growth after a dramatic drop from a $40 billion valuation to a $9.35 billion trough marks a maturation milestone for the entire fintech industry.

The key question going forward is how quickly the company's agentic commerce strategy translates into actual transaction volume. While support for Google UCP, Visa Intelligent Commerce, and Mastercard Agent Pay has been announced, the concrete scale of AI agent-driven payment volume remains to be seen. Additionally, how direct acquiring in the U.S. through the MALPB license will affect competition with Stripe and Adyen is an important observation point. For e-commerce businesses, the time has come to strategically reframe "payments" not as mere backend processing, but as a customer touchpoint in the AI agent era.