Tyro upgrades its FY23 guidance on strong results

Tyro Payments Limited (ASX: TYR) the Australian payment services provider, has revised its gross profit and EBITDA guidance for FY23 following strong year-to-date results. Gross profit is now predicted to reach between AU$192 million and AU$194 million, up from a previous estimate of AU$187 million to AU$191 million, while EBITDA is forecasted to reach AU$41 million to AU$43 million, compared to a previous range of AU$37 million to AU$41 million.

The company has also revised its transaction value estimate to between AU$42.25 billion and AU$42.75 billion, slightly lower than the previous range of AU$42.5 billion to AU$43.5 billion. Tyro CEO Jon Davey said that the performance was driven by margin improvement and cost reduction and expressed confidence about FY24. Potentia Capital Management and Tyro are in talks about a potential change of control deal.

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