A Dublin based unit of the Collison brothers-led Stripe last year clocked up average weekly revenues of $54.86m.
New accounts filed by Stripe Payments International Holdings Ltd show that the online payments business enjoyed a $597.4m or 26.5% increase in revenues rising from $2.25 billion to a record $2.852 billion (€2.7 billion) last year.
The firm is the holding company for Stripe sales in the European Middle East and Africa (EMEA) region along with the Asia Pacific (APAC) region.
Due to expansion costs including staff costs rising by $130m last year, pre-tax losses increased more than eight fold rising from $22.12m to $189.53m.
The unit also incurred a corporation tax charge of $20.37m resulting in post tax losses of $209.9m.
The directors describe Stripe as an "Irish-American technology group" and state that "turnover and the associated cost of sales have increased due to growth in business from existing users, expansion into new markets, launching new products in the region, and an increase in user adoption in existing markets".
Cost of sales increased from $1.79 billion to $2.32 billion and the directors state that in addition, "the increase in cost of sales is also driven by the increase in research and development costs".
The directors state that the group carries on significant research and development activities and the group's administrative expenses increased by $245.9m from $475.4m to $721.4m in 2022.
The directors state that administrative expenses "have increased as a result of the growth in business and the continued increase in headcount throughout the region".
Founded in 2010 by Patrick and John Collison, Stripe was first declared a "unicorn" - a privately-owned company that is valued at more than $1 billion - in 2014.
Today, 35-year-old Patrick Collison is Stripe CEO with his 33-year-old brother John in the role of company President.
Forbes estimates that Patrick and John each have a net worth of $5.5 billion and more than 100 companies now handle more than $1 billion in payments with Stripe every year.
Globally, Stripe processed transactions totalling $817 billion in 2022, up 26% from the 2021 total of $640 billion in payments.
In their annual letter, the Collison brothers stated that 2022 payment volume growth was "a significant deceleration from the breakneck growth that we saw during 2020 and 2021".
"At the same time, we are as confident as ever in the internet economy's long-term prospects, and we’re heartened by the steady advancement of the millions of businesses we serve," the brothers added.
Numbers employed by Stripe across the EMEA and APAC regions last year increased by 719 from 1,048 to 1,767.
A breakdown of the numbers employed show that 374 were employed in administration, 539 in sales, 557 in engineering and 297 in user operations.
The firm's staff costs last year increased by $130m to $294.9m that included wage costs of $250m. The staff costs also include equity settled share based payments of $12.9m.
The $250m wage costs works out at an average salary of $141,498. Key management shared pay last year totalling $4m including share based payments of $500,000.
The loss last year takes account of combined non-cash depreciation and amortisation costs last year of $44.5m along with a foreign exchange losses of $34.54m.
The loss also takes account of lease costs of $17.78m and net interest income of $2.94m.
The business'ss consolidated balance sheet received a major boost during the year with a $364m increase in share premium resulting in a $564m share premium at year end.
The firm also received a fresh capital contribution of $227m resulting in the capital contribution reserve increasing to $377.85m.
At the end of December last, the group had shareholder funds of $620.6m. The group's cash funds increased from $392.4m to $584m.
Earlier this week it was revealed that pre-tax profits at the UK arm of the Collison brothers' Stripe online payments business last year increased more than five fold to £14.56m (€16.76m).
New accounts show that pre-tax profits surged at the London registered Stripe Payments UK Ltd after revenues increased by 42% or £156.67m from £371.1m to £527.8m (€607.8m) in the 12 months to the end of December last.
Reporting by Gordon Deegan
