Key Highlights

  • Paymentus reported record third-quarter 2026 Revenue of $372.2 million, up 19.8%.
  • Upwork posted Net Income of $31.8 million on revenue down 8.0% (calculated).
  • Backblaze reported record revenue of $46.7 million, up 25.5%, with B2 revenue up about 47%.
  • Ibotta posted adjusted EBITDA of $23.8 million but a net loss of $3.5 million after a tax provision.
  • Match Group declared a $0.20 Dividend payable Jan 21, 2027.

Which Software and Internet Platforms Reported Results on Nov 2, 2026?

Five software and internet platform companies reported third-quarter 2026 results on Nov 2, 2026, and their revenue paths split into three growers, one decliner and one near-flat reporter. All five covered the quarter ended Sep 30, 2026.

Paymentus (NYSE:PAY) reported record revenue of $372.2 million, up 19.8%, with net income of $27.5 million. Upwork (NASDAQ:UPWK) reported revenue of $185.6 million, down 8.0% on a calculated basis, yet net income rose to $31.8 million. Backblaze (NASDAQ:BLZE) reported record revenue of $46.7 million, up 25.5%, with a net loss of $2.4 million.

Ibotta (NYSE:IBTA) reported revenue of $97.8 million, up 17%, and a net loss of $3.5 million. Match Group (NASDAQ:MTCH) reported revenue of $891 million, down 3%, and net income of $174.4 million. Scale differs sharply, from Backblaze's tens of millions in revenue to Match Group's hundreds of millions, and adjusted EBITDA is defined differently by each company, so it is not strictly comparable.

Paymentus: How Did Record Revenue Coexist With a Slower Fourth-Quarter Guide?

Paymentus reported revenue up 19.8% from $310.7 million, driven mainly by new biller launches and growth at existing billers. Transactions processed reached 219.0 million, up 20.1%. Net income rose to $27.5 million, or $0.21 per diluted share, from $17.7 million.

Adjusted EBITDA climbed 38.6% to $49.7 million, a record 41.9% Margin measured on contribution profit. Cash and equivalents stood at $409.6 million.

Fourth-quarter revenue is guided to $373 million to $378 million, about 13.6% growth at the midpoint, with adjusted EBITDA of $45 million to $50 million, below the third quarter. The full-year outlook was lifted to revenue of $1,464 million to $1,469 million. Management gave no 2027 guidance and said it would address it in February 2027. A non-GAAP net income discrepancy between its documents was resolved in favor of the press release.

Upwork: What Happens When Revenue Falls but Profit Rises?

Upwork reported revenue of $185.6 million, down about 8.0% from $201.7 million, while net income rose to $31.8 million from $29.3 million. Total operating expenses fell to $106.7 million from $126.1 million. The marketplace take rate expanded to 20.0%, and active clients fell 10% to 717,000 as the company focused on higher-value work.

Adjusted EBITDA was $63.8 million, a 34.4% margin, and its full-year adjusted EBITDA outlook was raised to $236 million to $240 million. On Oct 30, 2026, its Lifted unit completed the purchase of WorkMotion Software for about $129.7 million in cash.

The chief financial officer will step down on Jan 1. Management expects growth to remain under pressure in the first half of 2027. Prior full-year revenue guidance was not in the files, so the revenue outlook change is unclear.

Backblaze: Is AI Storage Demand Widening the Gap Between B2 and Backup?

Backblaze reported revenue of $46.7 million versus $37.2 million a year earlier. B2 Cloud Storage revenue rose from $20.7 million to $30.5 million, about 47% growth, and a May 1 price increase added roughly 12 percentage points. Computer Backup revenue slipped 2% to $16.2 million.

The net loss narrowed to $2.4 million, or $0.04 per share, from $3.8 million, and the adjusted EBITDA margin was 33%. On Aug 24, 2026, it issued $201.3 million of zero coupon convertible senior notes due in 2031.

Two large agreements, with an AI-focused cloud provider and a neocloud, have started to ramp but did not contribute significantly to quarterly growth. Full-year revenue guidance was raised to $177.8 million to $178.2 million, and fourth-quarter revenue is guided to $49.8 million to $50.2 million. Capital spending is expected at 55% to 65% of full-year revenue.

Ibotta: Why Did a Revenue Beat Still End in a Net Loss?

Ibotta reported revenue of $97.8 million, up 17%, and adjusted EBITDA of $23.8 million, up 43%, with both above the top of its guidance. Income before taxes was $6.1 million, but a $9.6 million tax provision produced a net loss of $3.5 million, or $0.15 per share, versus net income of $1.5 million a year earlier.

Third-party publisher Redemption revenue rose 43% to $70.7 million, while direct-to-consumer redemption revenue fell 22% to $17.9 million. Redeemers grew 30% to 23.6 million, and redemption revenue per redemption declined 13% to $0.76.

Fourth-quarter revenue is guided to $94 million to $98 million, about 8% growth at the midpoint. For 2027, management offered a preliminary view of at least mid-single-digit revenue growth. The company ended with $149.9 million of cash and equivalents and generated $16.8 million of free cash flow.

Match Group: How Did Hinge Offset Declines Elsewhere in the Portfolio?

Match Group reported revenue of $891 million versus $914 million a year earlier, while net income rose to $174.4 million from $160.7 million. Adjusted EBITDA was $344 million, up 14%, but the prior-year quarter included a $61 million legal settlement charge. Excluding that charge, adjusted EBITDA fell 5%.

Hinge direct revenue grew 19% to $221 million, and Tinder direct revenue fell 2% to $480 million. Management said Tinder daily active users returned to year-over-year growth in September. Evolving and emerging brands fell 20% to $176 million.

Fourth-quarter revenue is guided to $865 million to $875 million. The board declared a $0.20 dividend payable Jan 21, 2027 to holders of record on Jan 6, 2027. Management flagged a roughly $20 million app store fee headwind for 2027.

Platform Growth Gap: How Wide Is the Spread Between Fastest and Slowest Revenue Growth?

Revenue growth ran from 25.5% at Backblaze to negative 8.0% at Upwork, a spread of 33.5 percentage points (calculated). The simple average growth rate across the five was about 10.4% (calculated), though that figure is pulled up by Backblaze and Paymentus and weights a very small Backblaze like a large Match Group.

Combined revenue was about $1.59 billion (calculated), with Match Group contributing roughly 56% of it (calculated). Combined net income was about $227.8 million (calculated), a figure that nets two small losses against three profits.

Bases differ materially: Paymentus measures its adjusted EBITDA margin on contribution profit, while others use revenue, and Ibotta's loss comes from a tax provision rather than operations.

What to Watch Next: February Updates, WorkMotion and the Match Group Dividend

Paymentus and Match Group both said they will address 2027 expectations in February 2027, and Upwork said it will give 2027 guidance when it reports fourth-quarter results in February. The Upwork chief financial officer transition takes effect Jan 1.

Match Group's dividend is payable Jan 21, 2027 to holders of record on Jan 6, 2027. Backblaze implied $65 million to $83 million of fourth-quarter capital spending, and Ibotta named new publisher launches as a ramp item over coming quarters.

No specific dated event beyond the fourth-quarter report was identified in Ibotta's or Backblaze's materials.