Guidance And Earnings DeclineInitial guidance for 2025 calls for a 6%-12% decline in adjusted EBITDA, driven by 8%-11% revenue growth, offset by margin decline.
Margin PressureMargin pressure has been driven by incremental costs and growth of the large BaaS customer.
Retail Division ChallengesTurning around the retail division will remain a challenge, as it fell 9% in 2024.