Strong Total Processing Volume (TPV) Growth
TPV reached $84 billion in Q1, marking a 27% increase compared to the same quarter in 2024, despite a one-point growth headwind due to the leap year.
Net Revenue and Gross Profit Increase
Q1 net revenue of $139 million grew 18% year-over-year, and gross profit increased by 17% to $99 million, resulting in a gross margin of 71%.
Adjusted EBITDA Achievement
Adjusted EBITDA was $20 million in Q1, translating into a 14% margin, driven by gross profit growth and operating expense efficiency.
European Expansion
Significant growth in Europe with over 100% TPV growth in Q1, supported by the potential acquisition of TransactPay by Q3 end to enhance program management offerings.
Successful Migrations
Completed migrations for Klarna, Perpay, and Bitpanda, demonstrating capability in migrating complex programs efficiently.