Revenues at a Dublin based unit of the Collison brothers-led Stripe last year soared by 34% to a record $5.12 billion (€4.32 billion).
New accounts filed by Stripe Payments International Holdings Ltd show that the online payments business enjoyed a $1.3 billion increase in revenues from $3.82 billion to $5.12 billion in 2024.
The $5.12 billion in revenues translate to average weekly revenues of $98.59m for 2024.
The company recorded pre-tax profits of $101.88m after recording pre-tax losses of $1.2 billion in the prior year - a positive swing of $1.3 billion.
Revenues were boosted in 2024 by Stripe announcing new or expanded partnerships with some of the world's most successful companies including Nvidia, Hertz, Best Buy, URBN and Accor.
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.
The business expanded rapidly in 2024 with staff numbers rising by 443 from 1,765 to 2,208 and they are employed across the EMEA and APAC regions.
Staff costs decreased by 21% from $637.13m to $503.3m and this was mainly due to share-based payments halving from $323.4m in 2023 to $161.6m last year.
The cost of 'wages and salaries' totalled $299.84m which translates to average salary of $135,800 for 2024.
The unit also incurred a corporation tax charge of $29.52m resulting in post tax profit of $72.3m.
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 and an increase in user adoption in existing markets".
Cost of sales increased from $3.98 billion to $4.2 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 administrative expenses have decreased from $1.17 billion to $1.01 billion as a result of one off incremental shared based payment expenses recognised during the prior year.
In a post-balance sheet event on June 27 2025, the company paid out of a dividend of $9m to immediate parent, Stripe Laboratories Inc.
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.
This year Forbes estimated that Patrick and John each have a net worth of $10.1 billion.
Globally, Stripe - which is headquartered in San Francisco and Dublin - processed transactions generated $1.4 trillion in total payment volume in 2024, up 38% from the prior year.
In their annual letter for 2024, the Collison brothers stated: "We attribute this year's rapid growth in part to our long-standing investments in building machine learning and artificial intelligence into our products. These bets continue to pay off, increasing revenue for existing customers, encouraging more businesses to switch to Stripe, and helping new companies reach significant scale unprecedentedly quickly."
On the firm's financials, the brothers stated: "Stripe was profitable in 2024, and we expect to be so in 2025 and beyond. Durable profitability allows us to plough back much of our operating earnings into research and development. In each of the last six years, Stripe has reinvested a much higher proportion of our earnings in R&D than any comparable company."
The profit last year takes account of combined non-cash depreciation and amortisation costs of $36.9m along with a foreign exchange loss of $41.42m.
The loss also takes account of lease costs of $14.9m.
At the end of December last, the group had shareholder funds of $968m and its cash funds decreased from $1.04 billion to $892m.
Reporting by Gordon Deegan
