Stripe's Dublin division experiences a significant revenue surge, reaching a unprecedented $5.12 billion, marking a 34% increase.
In an exciting turn of events, the Irish-American technology group, Stripe, has announced impressive financial results for the year 2024. The company, known for its innovative payment solutions, reported a significant increase in revenues, profitability, and global transactions. According to the latest financial reports, Stripe's Dublin-based unit recorded a 34% increase in revenues, reaching a staggering $5.12 billion in 2024. This growth was driven by the company's long-standing investments in machine learning and artificial intelligence, as stated by the Collison brothers, the founders of Stripe. The average weekly revenue for 2024 was an impressive $98.59 million, and the company processed transactions that generated a total payment volume of $1.4 trillion, an increase of 38% from the prior year. Stripe's profitability was a notable highlight, with pre-tax profits of $101.88 million in 2024, marking a significant turnaround from pre-tax losses of $1.2 billion in the previous year. The profit takes account of combined non-cash depreciation and amortisation costs of $36.9m, a foreign exchange loss of $41.42m, and lease costs of $14.9m. Staff costs decreased by 21% from $637.13 million to $503.3 million in 2024, mainly due to a halving of share-based payments. Despite this decrease, the company saw an increase in staff numbers, with 443 new hires in 2024, bringing the total to 2,208. The cost of sales increased from $3.98 billion to $4.2 billion in 2024, with the increase also driven by an increase in research and development costs. However, administrative expenses have decreased from $1.17 billion to $1.01 billion. Stripe is the holding company for Stripe sales in the European Middle East and Africa (EMEA) region, as well as the Asia Pacific (APAC) region. The company also announced new or expanded partnerships with several notable companies in 2024, including Nvidia, Hertz, Best Buy, URBN, Accor, and SpaceX. In a post-balance sheet event on June 27 2025, the company paid out a dividend of $9m to its immediate parent, Stripe Laboratories Inc. At the end of December 2024, the group had shareholder funds of $968m and its cash funds decreased from $1.04 billion to $892m. Forbes estimated that Patrick and John Collison, the founders of Stripe, each have a net worth of $10.1 billion in 2025. This impressive growth and profitability are a testament to Stripe's innovative approach and commitment to delivering cutting-edge payment solutions. This article is reported by Gordon Deegan.
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