Group 1 - The 2025 POMS China Summer School was held from August 18 to 22 at Northeast University of Finance and Economics, attracting 160 young scholars and graduate students from 51 universities worldwide [1][3] - The theme of the summer school was "Digital Technology-Driven Operations Management and Social Governance Transformation," supported by the China Association for Science and Technology's "China-US Young Scientists Exchange Program" [1][3] - The event featured prominent speakers including former POMS President Nagesh Murthy, current POMS President Subodha Kumar, and other renowned scholars from institutions like Tsinghua University and Peking University [3][5] Group 2 - The curriculum covered cutting-edge topics such as big data governance, artificial intelligence decision-making, supply chain resilience, emergency management, and global governance, reflecting the teaching philosophy of "International Methods, Chinese Issues" [3][5] - Participants included doctoral and outstanding master's students from top Chinese universities and international institutions, primarily in management, economics, and public administration [3][5] - Since its inception in 2019, the POMS China Summer School has become a significant platform for young scholars' exchange in management science, enhancing the international perspective and research capabilities of Chinese students [5]

Financial Data and Key Metrics Changes - The company recorded revenue exceeding $79 million, representing a 7% year-over-year growth, and adjusted EBITDA above $33 million, achieving a 42% adjusted EBITDA margin [8][30] - For the full year 2024, total revenue increased by 4% to $316.3 million, with adjusted EBITDA at $130.7 million, reflecting a 41% adjusted EBITDA margin [41][48] Business Line Data and Key Metrics Changes - Subscription revenue grew by 5% year-over-year, contributing 82% of total revenue, while services revenue increased by 6% driven by higher implementation fees [35] - Consumer lending revenue grew by 9% year-over-year, while mortgage lending software solutions declined by 7% due to customer downsell and churn [44][46] Market Data and Key Metrics Changes - The company noted a significant increase in new customer bookings, nearly 40% year-over-year, indicating strong demand for digital transformation among financial institutions [23] - The mortgage market is expected to contribute approximately 18.5% of revenue for the full year 2025, with consumer lending projected to grow approximately 7% [55][56] Company Strategy and Development Direction - The company plans to focus on long-term growth by investing in sales and marketing, product development, and infrastructure to capture market share when conditions improve [13][62] - A shift to providing annual guidance instead of quarterly updates aims to align investor expectations with the company's long-term value creation strategy [51][52] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding customer volumes and associated revenue for 2025 due to economic uncertainty, but remains optimistic about long-term growth opportunities [54][60] - The company is committed to maintaining a disciplined approach to capital allocation, prioritizing organic growth and strategic M&A opportunities [62][63] Other Important Information - The company ended the fourth quarter with cash and cash equivalents of $92.8 million, an increase of $10.5 million quarter-over-quarter [41] - A new stock repurchase program was authorized to acquire up to $129.5 million, reflecting the company's commitment to returning capital to shareholders [64] Q&A Session Summary Question: Sensitivity of non-mortgage component - Management acknowledged the request for further disclosures but did not provide additional details on the consumer segment at this time [70] Question: Sustainability of 41% EBITDA margin target - Management expressed confidence in maintaining a 41% EBITDA margin, noting that investments in the second half of the year may pressure margins [72][74] Question: Investments outside of sales and marketing - Investments will focus on digital interfaces, partner infrastructure, and data engineering to scale business operations [79][80] Question: Pipeline composition and momentum - Management reported a strong pipeline and momentum heading into 2025, particularly in cross-sell initiatives and mortgage products [91][92] Question: Growth drivers in consumer LOS business - The 9% growth in consumer lending was attributed to solid ACV release and ongoing customer demand for the platform [96][97] Question: Update on different consumer loan types - Auto loans represent roughly half of the consumer LOS business, with used cars making up two-thirds of that segment [101][102] Question: Recent partnership with Zest AI - The partnership enhances the decisioning engine, providing customers with advanced automated decisioning capabilities [106] Question: Areas of focus for M&A - The company is looking for tuck-in acquisitions to expand platform capabilities and reduce vendor complexity for customers [113][114]