Paysafe Limited (NYSE:PSFE) tumbled on Thursday after the company delivered a disappointing quarterly update and slashed its full-year outlook.

The payments provider reported weaker results across key metrics and warned of softer expectations ahead, sending investors rushing for the exits.

The company reported third-quarter adjusted earnings per share of 70 cents, missing the analyst consensus estimate of 73 cents.

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Quarterly sales of $433.815 million (+2% year over year) missed the Street view of $439.514 million.

Organic revenue growth for the third quarter was 6%, reflecting 7% organic growth from Merchant Solutions and 4% organic growth from Digital Wallets.

Growth was driven by double-digit gains in e-commerce, supported by heavy volumes at the start of the U.S. football season. Latin America saw strong demand for Paysafe's local payment solutions.

Customer engagement also increased around eCash initiatives and new digital banking partnerships across Europe.

Adjusted EBITDA for the third quarter increased ...