Surfboard Payments Reports Record Q2: Revenue Up 76% Quarter Over Quarter
Surfboard Payments reports its strongest quarter to date — total revenue up 76%, gross processing volume up 78%, and recurring revenue up 51% quarter over quarter, with nearly 1.2 million transactions processed in June alone.
Stockholm, Sweden, July 2026 — Surfboard Payments today announced results for the second quarter of 2026, marking the strongest quarter in the company’s history. Total revenue grew 76% compared to Q1 2026, gross processing volume grew 78%, and recurring revenue grew 51% — the company’s fastest quarter-over-quarter expansion to date.
The quarter in numbers
- Total revenue: +76% QoQ
- Gross processing volume: +78% QoQ
- Recurring revenue: +51% QoQ
- In June alone, merchants processed nearly 1.2 million transactions through the Surfboard platform
What drove the quarter
Q2 growth was broad-based across Surfboard’s markets, spanning event and festival commerce, retail, hospitality, and online.
The quarter reflects the model Surfboard has been building toward since day one: an API-first payments platform distributed through partners, rather than sold merchant by merchant. When partners grow, Surfboard grows with them — and in Q2, they grew quickly.
Growth was recurring-led. Transaction-based platform revenue was the largest contributor to the quarter, complemented by steadily expanding hardware rental revenue as the terminal fleet in the field continues to grow.
This quarter is the clearest proof yet that our model works
“This quarter is the clearest proof yet that our model works,” said Christopher Lindfeldt, CEO of Surfboard Payments. “We don’t win merchants one at a time — we earn the trust of the software platforms and partners they already rely on, and we grow when they grow. A 76% revenue increase in a single quarter is the result of years of unglamorous work: uptime, predictable APIs, and shipping continuously. I’m enormously proud of our teams, and grateful to every partner who has placed their bet on us.”
Built on trust
Payments infrastructure is a trust business. Every partner that builds on Surfboard is making a long-term bet — that the platform will be online when their merchants need it, that it will scale when they scale, and that it will keep doing exactly what was promised.
The foundations behind Q2 — a growing terminal fleet, an expanding partner base, and deepening volumes across four markets — carry directly into the second half of the year. The roadmap for H2 2026 focuses on product development, more value added services for partners, and the next generation of the platform’s developer experience.
In other words: more of the same, faster.
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