Dayforce (DAY) 2025 Conference June 10, 2025 09:05 AM ET Speaker0 And I'm Siti Panigrai, software analyst here at Visio. Welcome you all to Visio Technology Conference twenty twenty five, and it's my great pleasure to welcome Jeremy Johnson, CFO of Dayforce. Jeremy, welcome to the conference. Speaker1 Thank you, Siddi. Thanks for having me. Speaker0 And it's been like you joined, Dayforce, I remember, 2012. You played a key role during IPO in 2018 and back in CFO role last eighteen months. Hope you're enjoy ...

Core Viewpoint - Shopify Inc reported strong fiscal first-quarter results with a revenue growth of 26.8% to $2.36 billion, surpassing analyst expectations, although adjusted EPS of $0.25 fell slightly short of the consensus estimate [1][2]. Financial Performance - Quarterly revenue increased by 26.8% to $2.36 billion, exceeding the analyst consensus estimate of $2.33 billion [1]. - Adjusted EPS rose by 25% to $0.25, but missed the analyst consensus estimate of $0.26 [1]. - Gross merchandise volume (GMV) grew by 22.8% to $74.75 billion, while merchant solutions revenue increased by 28.9% to $1.74 billion [2]. Market Trends and Guidance - The second-quarter guidance anticipates continued strength in GMV, projecting mid-20s revenue growth and high-teens gross profit growth [4]. - Analysts noted that Shopify's GMV multiplier as a percentage of U.S. eCommerce growth remains strong, indicating potential market share gains even amid a slowdown in U.S. eCommerce growth [7]. International Expansion - Shopify is benefiting from the globalization of commerce, with significant market share gains abroad, particularly in the North American market [6]. - Cross-border trade constitutes 15% of GMV, with 1% of overall GMV related to imports from China [9]. Analyst Ratings and Price Targets - Piper Sandler maintains a Neutral rating with a price target of $104, while Goldman Sachs holds a Buy rating with a revised price target of $120, down from $130 [11]. Margin Insights - Free cash flow margins are expected to remain in the mid-teens range, with a decline in these margins viewed negatively [5]. - Pressure on gross margins is anticipated in 2025 due to various factors, including the PayPal partnership and the impact of longer paid trial lengths [12].