H2 2024
Shareholder letter
We delivered a strong period driven by continued growth with existing customers
Net revenue growth was 22% YoY in H2 2024, driven by share of wallet expansion with existing customers and new business wins across verticals
In a period where headcount grew at a slower pace and net revenue growth remained strong, EBITDA margin landed at 53%
In line with our strategic priorities, we maintained our sustainable capital expenditure level of up to 5% of net revenue while investing in our office spaces and data centers
Our ability to win was clear across our most established and emerging regions
EMEA was yet again a key net revenue contributor, growing 27% YoY, signaling that we are still at the outset of realizing our market opportunity even in our most established regions
North America grew 21% YoY as we continued gaining market share in this key market, giving us further confidence in our double-down approach to this target region
APAC net revenue was up 12% YoY, and LATAM showed good momentum on a constant currency basis of 12% YoY*
*While we do not report regional progress on a constant currency basis, we are providing this view for LATAM given the outsized impact of FX this period
Our competitive differentiation widened with our platform’s functionality advantage
In Digital, our AI-powered, payment optimization suite drew on our vast dataset to optimize the full payments funnel, striking the balance between conversion, risk, and cost
In Unified Commerce, we reliably facilitated record-setting Black Friday volumes and unlocked enhanced brand experiences with the launch of our SFO1 terminal
Platforms remained our fastest growing pillar, with our Embedded Financial Product (EFP) suite equipping businesses to unlock new revenue streams
Interim Condensed Consolidated Financial Statements
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