Financial Data and Key Metrics Changes - The company achieved fourth quarter revenue of $93.5 million and full-year revenue of $327.5 million, representing year-over-year growth of 11% and 10% respectively [44][9] - The annual gross merchandise volume (GMV) grew by 15% to $141.2 billion for the full year 2024 [45][9] - Adjusted EBITDA for the year was positive $17.2 million, reflecting a year-over-year increase of over 300% [58][9] - The gross profit margin for the full year was 53%, up from 52% in 2023 [53][9] Business Line Data and Key Metrics Changes - The Ticket & Travel category was the largest contributor to year-over-year revenue growth, achieving over $111 million in revenue, which represented approximately one-third of the overall portfolio [49][9] - The Food category saw a 40% year-over-year growth, while the Money Transfer & Payments category grew by 66% [49][9] - The Fashion & Luxury category grew by low single digits in the fourth quarter and for the full year, representing approximately one-third of the portfolio [47][9] Market Data and Key Metrics Changes - The United States, the largest region, grew by 9%, while EMEA grew by 4% [51][9] - The Americas and APAC regions grew approximately 10% and 33% respectively, driven by new and upsell activity [51][9] Company Strategy and Development Direction - The company aims to expand its multi-product platform to diversify its revenue base and has successfully added several key merchants to products outside of its core chargeback guarantee [14][9] - A key focus for 2025 is to enhance top-of-funnel efforts to drive more pipeline and increase opportunities [15][9] - The company is investing in AI capabilities to improve performance and accuracy across its platforms [29][9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about improved performance in annual dollar retention (ADR) and net dollar retention (NDR) rates in 2025, despite challenges faced in 2024 [21][9] - The company is implementing a merchant retention strategy aimed at returning ADR to historical levels [18][9] - Management anticipates revenue for 2025 to be between $333 million and $346 million, driven primarily by new business activity [65][9] Other Important Information - The company ended 2024 with approximately $376 million in cash and deposits and zero debt [59][9] - The company repurchased approximately $27 million shares for a total price of $141 million during 2024 [60][9] - Share-based compensation expense as a percentage of revenue decreased by approximately 300 basis points from 2023 levels [62][9] Q&A Session Summary Question: What are the strategies to maximize top of the funnel activity? - Management highlighted three strategies: expanding platform capabilities through increased R&D, geographical expansion, and a more thoughtful approach to mid-tier market areas [75][76][77] Question: What is the exposure to larger-than-average renewals in 2025? - Management expressed high confidence in multiyear renewals, with over 70% of the book of business already renewed [79][80] Question: Can you provide context around the success of standalone non-chargeback products? - Management indicated significant growth potential, projecting revenue from these products to increase from $4.5 million in 2024 to low double-digit millions [86][9] Question: What are the dynamics affecting net dollar retention (NDR)? - Management noted that NDR decreased due to churn events and a focus on new logo generation rather than upsells, but expressed optimism for improvement in 2025 [92][96] Question: How does the company view alternative payment methods? - Management stated that there is ongoing demand from merchants for fraud identification in alternative payment methods, indicating a growing opportunity in this area [98][9]