Companies / PayPal COMPANY FILINGS
PayPal PYPL In fiscal 2025, PayPal Holdings, Inc. operated a global digital-payments network connecting consumers and merchants. Its services included PayPal and Venmo wallets, checkout using those brands, and payment processing for merchants.
Business description: FY2025 CIK 0001633917 Source: SEC EDGAR
Overview 10-K summary Balance sheet Original filings
Annual reports 5
Report coverage 2021–2025
Financial statement focus Balance sheet READ THE FILING
Annual report insights AI summary AI-generated summaries of the cited 10-K filings. For informational purposes only; not personalized investment advice.
Choose a fiscal year FY2025 Net revenues increased 4% in 2025 compared with 2024, while operating income—the profit remaining after operating expenses—increased 14%. Management attributed the operating-income increase to higher revenues, partially offset by higher operating expenses.
Source: 2025 PayPal processed US$1.79 trillion in completed customer payments in 2025 (total payment volume), up 7% from 2024. This is payment value, rather than PayPal revenue. The number of completed payments fell 4% to 25.4 billion. Both measures include payments completed on PayPal's platform or enabled through a partner solution, subtract reversed payments, and exclude gateway-only transactions, where the service links payments to card or bank-processing networks.
Source: 2025 View full 10-K summary 2025 Hide full 10-K summary 2025 Signals describe observations in the selected filing, not forecasts or investment ratings. Risk disclosures do not establish that a loss occurred.
Positive signals No positive signals are highlighted in this summary. This does not mean the filing contains none.
Negative signals Service disruption An August 2025 coding error in a system update caused a temporary service disruption, primarily affecting a limited number of customers and partners in Germany. PayPal reported fraudulent transaction activity for a limited period during the disruption and incurred transaction losses and other expenses.
Source: 2025 Merchant credit PayPal's estimate of expected credit losses on loans, advances and fees owed by business customers increased to US$170 million at December 31, 2025, from US$113 million a year earlier. Management linked the increase to growth in these receivables and weaker credit quality, with the latter primarily related to lending-rule changes in 2024 that made more merchants eligible. This allowance estimates losses; it is not the amount already written off.
Source: 2025 Business context Technology overhaul PayPal began a technology-infrastructure overhaul in the second quarter of 2025, including plans to exit certain data centers and migrate to cloud-based solutions. Management expected the workforce component to be substantially completed in 2027 and the technology component in 2028. These were future milestones, with timing and cost estimates still subject to change.
Source: 2025 Business in fiscal 2025 In fiscal 2025, PayPal Holdings, Inc. operated a global digital-payments network connecting consumers and merchants. Its services included PayPal and Venmo wallets, checkout using those brands, and payment processing for merchants.
Source: 2025
5-year changes FY2021–FY2025 These changes use selected original filing passages and nearby context from the stated five fiscal years. They are not an exhaustive review of all five reports and exclude later-year filings.
Revenue growth PayPal reported annual net-revenue growth of 18% in 2021, 8% in 2022, 8% in 2023, 7% in 2024 and 4% in 2025. Each percentage compares that fiscal year with the preceding year: revenues continued increasing, but the reported growth rate was lower by 2025.
Source: 2021 , 2022 , 2023 , 2024 , 2025 Braintree shift In 2023, management identified growth in payment volume and transaction count at Braintree, its payment-processing business, as the primary driver of transaction-revenue growth. The 2024 report anticipated slower Braintree volume and transaction-revenue growth in 2025 amid merchant negotiations and a stronger focus on profitability. The 2025 report described the realized outcome separately: lower Braintree volume and transaction revenue in the first half, followed by revenue and payment-volume growth in the second half.
Source: 2023 , 2024 , 2025 Restructuring scope PayPal's 2022 workforce-reduction plan focused on eliminating redundant operations and simplifying its organization; its strategic actions were substantially completed that year. In the second quarter of 2025, management launched a technology-infrastructure overhaul that included plans to exit certain data centers and migrate to cloud-based solutions. Management expected substantial completion of the workforce component in 2027 and the technology component in 2028, with timing and cost estimates still subject to change.
Source: 2022 , 2025 Request a correction FINANCIAL STATEMENTS
Balance sheet A snapshot of what PayPal owns and owes at a point in time.
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Annual reports & SEC 10-K filings SEC EDGAR 5 reports in this collection
Report yearAll years 2025 2024 2023 2022 2021 Dates describe the filing metadata. Figures and reporting periods should be checked against the original statement. SEC links open in a new tab.
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