05:51 AM EST, 03/05/2024 (MT Newswires) -- (Updates with the stock move in the headline and the first paragraph.)

Paymentus Holdings' ( PAY ) shares soared 18% in premarket activity Tuesday after the company reported earnings more than doubled from a year ago following a surge in revenue.

Late on Monday, the company reported Q4 adjusted EPS of $0.11, up from $0.04 a year ago.

Analysts polled by Capital IQ expected $0.06.

Revenue for the quarter ended Dec. 31 was $164.8 million, up from $132.2 million, a year earlier.

Analysts surveyed by Capital IQ expected $157.4 million.

For Q1, the company forecasts revenue of $170 million to $176 million. Analysts surveyed by Capital IQ expect $172.4 million.

Paymentus ( PAY ) expects revenue of $720 million to $744 million for fiscal 2024. Analysts polled by Capital IQ expect $732.1 million.