Earnings GuidanceThe company cut 2024 guidance as follows: adjusted EBITDA of US$180-200 million (vs US$220-260 million before), gross profit of US$280-300 million (vs US$320-360 million before), and TPV of US$24.5-26.5 billion (vs US$25-27 billion before).
Margins And Take RatesThe company still expects some marginal pressure on take rates and margins over the medium term, as TPV mix is expected to continue to shift towards Tier 0 merchants and local-to-local flows.
Price TargetNew price target is US$11, versus US$14 before.