Financial Data and Key Metrics Changes - For Q4 2024, GAAP revenue increased by 3.3% year over year, with pro forma revenue growth of 7% after adjusting for the sale of fitness solutions [11][33] - Adjusted EBITDA for Q4 was $50.4 million, representing a margin of 28.8%, which is an increase from 25.4% in Q4 2023 [34] - Total payment volume (TPV) for Q4 was approximately $12.6 billion, reflecting a 9% year-over-year growth [29] Business Line Data and Key Metrics Changes - Payments revenue, excluding fitness solutions, grew by 8.9% year over year, driven by a 9% growth in TPV [12][28] - Subscription and transaction revenue for Q4 was $139 million, up 4.2% from the prior year, while marketing technology solutions revenue decreased by 1.6% to $29.6 million [31] - Subscription transaction revenue grew by 8.4% year over year, contributing to overall revenue growth [16] Market Data and Key Metrics Changes - The company serves over 740,000 customers across three major verticals, with a customer count growth of more than 7% over the past year [14][63] - The two main verticals, EverPro and EverHealth, represent approximately 95% of consolidated revenue, indicating a strong market position [19] Company Strategy and Development Direction - The company is focusing on becoming a pure-play SaaS and embedded payments platform, emphasizing vertical SaaS software with embedded payments [13][18] - Strategic alternatives for marketing technology solutions are being explored, with the intent to divest in 2025 [8][9] - The company aims to enhance customer value through improved product offerings and increased payment adoption [24][68] Management's Comments on Operating Environment and Future Outlook - Management noted no discernible macroeconomic impacts on customer acquisition or churn trends at this time [46][48] - The focus remains on providing integrated solutions and enhancing customer engagement to drive retention and acquisition [60][64] - Guidance for Q1 2025 expects total revenue of $138 to $141 million and adjusted EBITDA of $39 million to $41 million [42] Other Important Information - The company generated significant free cash flow, with cash flow from operations for Q4 at $48.4 million, compared to $36 million in Q4 2023 [37] - The company ended the quarter with $136 million in cash and cash equivalents, maintaining a strong liquidity position [38] Q&A Session Summary Question: Update on customer health and macro impacts - Management indicated no current discernible impacts on acquisition utilization or churn trends, monitoring key indicators closely [46][47] Question: Expansion on partnerships and channel optimization - Partnerships are a key component of customer acquisition, with digital efforts being the primary driver [51][53] Question: Factors contributing to customer count acceleration - New customer acquisition was driven by digital efforts and increased investments in partnerships [58][60] Question: Guidance philosophy and growth acceleration levers - The company feels confident in its guidance, focusing on sustainable organic growth and strategic acquisitions [75][76] Question: Investments in the payments platform and adoption frictions - Investments are being made to address inertia in customer adoption and to enhance payment workflows [80][82] Question: Payments opportunity in EverHealth compared to EverPro - The opportunity in EverHealth is smaller but still significant, with a focus on patient payments and integrated solutions [88][89] Question: Customer count modeling for 2025 - Approximately 15,000 customers are expected to be added, with more details to be provided in the next quarter [91]