Uzbek Payment Firms Payme, Click, and Paynet Report Q1 2026 Financial Results
Paynet leads with a significant profit surge in Q1 2026, driven by dividend inflows and acquisition effects.
Leading payment service providers in Uzbekistan have released their financial statements for the first quarter of 2026, revealing divergent growth trajectories in revenue and profitability.
Quarterly Financial Performance Overview
Among the three major players, Click reported a 7.4% increase in net profit reaching 78.6 billion Uzbek soms. More notably, the company's revenue grew substantially by 23.4%, amounting to 209.4 billion soms during the quarter.
Payme demonstrated robust growth with its net profit soaring by 49.6% to 104 billion soms, thereby surpassing Click in profitability. Payme’s revenue also surged significantly by 52.3%, totaling 230 billion soms for the quarter.
However, the standout performer was Paynet, which reported an exceptional 313.7% increase in net profit, quadrupling to 449.5 billion soms. Its revenue increased 44% to 558.5 billion soms in Q1 2026.
"Paynet's first quarter net profit outpaced its entire 2025 net profit of 395.1 billion soms, underscoring a remarkable financial turnaround."
This extraordinary profit jump for Paynet was primarily attributed to a one-time dividend inflow of 321.1 billion soms recorded in the financial report. Excluding this dividend, Paynet’s net profit for the quarter stood at 128.4 billion soms.
Contextual Factors Influencing Financial Results
It is pertinent to highlight that Paynet’s improved financial position is linked to its strategic acquisition of the Humo payment system for 65 million USD at the start of 2025. This acquisition has evidently contributed to expanding Paynet’s operational scale and profitability.
The divergence in growth rates among these companies reflects varying corporate strategies, market penetration levels, and the impact of non-recurring financial events. Investors and market watchers should consider these factors when evaluating the comparative financial health and future outlook of these key players in Uzbekistan’s payment processing sector.
Overall, the first quarter of 2026 has been marked by strong revenue growth and increased profitability across the board, despite differences in scale and financial structuring among Payme, Click, and Paynet.
