Checkout.com processed more than USD 300 billion in total payment volume in 2025, a 64% increase on the prior year, as the London-headquartered payments company returned to full-year EBITDA profitability and posted its second consecutive year of net revenue growth exceeding 30%. The results, published on 24 February 2026, represent a significant operational milestone for a business that had faced sustained questions about its path to profitability following a period of rapid territorial expansion, heavy investment, and a sharp reset in its private market valuation.
The return to full-year EBITDA profitability marks a meaningful shift from the investment-heavy phase that characterised Checkout.com's earlier years as it built out its global processing infrastructure and enterprise sales capability. Net revenue grew by more than 30% for the second consecutive year, a performance that demonstrates the durability of the company's top-line momentum across a diverse range of merchant relationships and geographies, including major markets in North America, Europe, and the Middle East.
ENTERPRISE CLIENT BASE EXPANDS SHARPLY
One of the most striking data points in Checkout.com's 2025 results is the growth in the number of large merchants exceeding significant processing thresholds on its platform. The number of clients processing more than USD 1 billion annually through Checkout.com rose to 63 in 2025, up from 39 in 2024, a 62% increase. The growth in billion-dollar clients reflects both the addition of new enterprise accounts and the organic volume expansion of existing customers as their businesses grow and they consolidate a greater share of their payments routing through Checkout.com's infrastructure.
The expansion of the large enterprise client base is strategically significant because high-volume merchants tend to exhibit greater stickiness, generate improved operational leverage across Checkout.com's fixed-cost infrastructure, and provide a more predictable revenue profile than smaller or mid-market transactors. Retaining and expanding within enterprise accounts is central to the company's stated commercial strategy, and the increase from 39 to 63 billion-dollar clients in a single year suggests that strategy is gaining meaningful traction with the largest and most complex global businesses.
POSITIONING FOR AGENTIC COMMERCE ERA
In its results communication, Checkout.com outlined a forward-looking strategic thesis centred on what the company describes as the era of agentic commerce — a term the company uses to describe the anticipated growth of AI-driven purchasing and payment flows, where automated systems and AI agents initiate, approve, and complete commercial transactions with limited or no direct human intervention at the point of purchase. The company indicated that it is investing in infrastructure and product capabilities designed to support this emerging paradigm, positioning itself as a trusted payment rail for the next generation of commerce.
The combination of record payment volume, a rapidly growing enterprise client base, and restored profitability provides Checkout.com with a considerably strengthened operational and financial platform as it considers its next phase of growth and a potential initial public offering. The improved financial profile reported for 2025, in particular the return to EBITDA profitability and the sustained double-digit net revenue growth, are likely to be central to any future investor conversations about the company's value and long-term commercial trajectory in the global payments industry.