~ Ended First Quarter with $759.0 Million in Cash/Investments ~ ~ Operations Consumed Just $9.7 million of Cash Despite $10.9 Million in Primarily Legacy Legal Fees ~ ~ Diversified into FinTech and Financial Services with Launch of Truth.Fi ~ ~ Preparing to Launch Truth+ Subscription Service ~ ~ Eyeing Further Expansion through Mergers/Acquisitions ~ SARASOTA, Fla., May 09, 2025 (GLOBE NEWSWIRE) -- Trump Media and Technology Group Corp. (Nasdaq, NYSE Texas: DJT) ("Trump Media" or the "Company"), operator of ...

Financial Data and Key Metrics Changes - The company is pleased to improve its outlook for the current quarter and the fiscal year, indicating a positive trend in financial performance [6][7] - The quarter showed strong growth in GMV (Gross Merchandise Volume), with March being the strongest month at 40% year-on-year growth [20] Business Line Data and Key Metrics Changes - Strong growth was observed across various business lines, particularly in direct-to-consumer services, which outpaced the overall business growth [19] - The zero APR product is gaining traction, although it has a lower revenue and return on loan compared to interest-bearing loans [10][12] Market Data and Key Metrics Changes - The company noted broad-based strength in GMV across its merchant base, with only one category experiencing a decline [19] - The company is actively engaging with merchants to promote zero APR offers, which are seen as beneficial for both parties [11][28] Company Strategy and Development Direction - The company aims to balance growth and profitability while continuing to take market share [7] - There is a focus on enhancing the Affirm app to improve user engagement and repayment rates, with ongoing updates and features being rolled out [61][63] Management's Comments on Operating Environment and Future Outlook - Management is mindful of potential economic challenges, including the impact of student loan enforcement and broader economic conditions [59] - The company is prepared for recession scenarios and has a proactive approach to adjusting credit quality and underwriting standards as needed [34][112] Other Important Information - The partnership with Costco is highlighted as a significant development, although specific timelines and metrics are not disclosed [70][71] - The company is committed to reporting loan data to credit bureaus, which is seen as beneficial for consumers and the company's brand [40][42] Q&A Session Summary Question: Can you discuss the balance of economics between zero APR and interest-bearing loans? - Management indicated that while zero APR loans generate less revenue, they enhance brand loyalty and customer acquisition, leading to better credit quality in the long term [10][12] Question: What are the pockets of strength in GMV? - The company reported strong growth across most categories, with direct-to-consumer services leading the charge [19][20] Question: How does the company view the impact of student loan enforcement? - Management is monitoring the situation closely and has already factored student loan delinquencies into their underwriting processes [59] Question: Can you elaborate on the competition and funding structure? - The competitive landscape remains intense, but the company focuses on conversion and impact rather than pricing to maintain its market position [122][123] - A bank charter is not seen as a solution for the current funding strategy, but the company remains open to pursuing one if necessary for product development [116][120]

Financial Data and Key Metrics Changes - Core revenue grew 14% year over year, reaching $320 million in Q3 [38] - Non-GAAP operating income margin was 15%, exceeding initial expectations [5][31] - Free cash flow increased by 44% year over year, representing a 25% margin [6][38] - Total revenue for Q3 was $358 million, up 11% year over year [38] - Non-GAAP net income was $59 million, with a net income margin of 16% [45] Business Line Data and Key Metrics Changes - Revenue from the integrated platform, excluding the financial institution channel, was $302 million, up 15% year over year [39] - Revenue from the Bill APAR solution was $164 million, an increase of 10% year over year [39] - Revenue from the Bill Spend and Expense solution was $138 million, up 21% year over year, driven by a 22% growth in card payment volume [42] Market Data and Key Metrics Changes - Total payment volume (TPV) grew 10% year over year, slightly below expectations [39] - TPV per customer decreased by 2% year over year due to SMBs managing expenses more conservatively [40] - Net adds from the accounting channel grew over 60% year over year, indicating strong market penetration [20] Company Strategy and Development Direction - The company is focusing on expanding capabilities for larger businesses and enhancing its payment portfolio [6][9] - An accelerated AI growth strategy is being implemented to transform financial operations for SMBs [23][24] - The company aims to simplify financial operations for SMBs, positioning itself as an essential platform for financial management [8][29] Management's Comments on Operating Environment and Future Outlook - Management noted that SMBs are adapting to a dynamic macro environment, with signs of reduced spending and transaction volumes [28][46] - The company remains confident in its ability to capture market opportunities despite current uncertainties [46][47] - Future guidance for Q4 expects core revenue to be between $335 million and $345 million, reflecting 11% to 15% year-over-year growth [48] Other Important Information - The company has a strong balance sheet with $2.2 billion in cash and short-term investments, providing flexibility for growth investments [45] - The introduction of new advanced ACH solutions aims to simplify payment processes for large suppliers [18][35] Q&A Session Summary Question: Success with accountants adopting Divvy post integration - Management highlighted the significant opportunity within the accountant base, with over 9,000 firms using their product and potential for cross-selling [54][55] Question: Confidence level regarding investments and expected returns - Management expressed increased confidence in internal execution driving results, with a focus on simplifying customer experiences [60][62] Question: Observations from April trends and comparisons to past cycles - Management noted that SMBs are facing significant uncertainty, leading to fewer transactions and decreased spending, but emphasized the resilience of SMBs [64][66] Question: Impact of tariffs on cross-border transaction revenue - Management indicated that the majority of international transactions are for services, with no significant shift between USD and local currency payments observed [73][75] Question: Pricing and packaging of the software platform - Management acknowledged the opportunity for pricing adjustments as the platform becomes more valuable, with plans to discuss this in future calls [80][82] Question: Payments monetization within Bill APAR - Management detailed the drivers of take rate expansion, including volume growth from emerging payment products and reduced FX losses [89][90]

Core Insights - Mercado Libre reported strong financial performance in Q1 2025, with net revenues and financial income reaching $5.9 billion, a 37% year-over-year increase [9] - The company is expanding its investment in Brazil by 48% to 34 billion reais ($5.8 billion) in 2025, focusing on logistics, technology, marketing, and staff expansion [2][10] - The growth in unique active buyers rose 25% year-over-year in Q1 2025, indicating improved brand preference in key markets [3] Financial Performance - Net revenues and financial income for Q1 2025 were $5.9 billion, up 37% year-over-year (64% FX-neutral) [9] - Income from operations reached $763 million with a 12.9% margin, while net income was $494 million, reflecting an 8.3% margin [9] - Total payment volume (TPV) grew 43% year-over-year (72% FX-neutral) to $58.3 billion [9] User Growth and Engagement - Mercado Pago's digital account reached 64 million monthly active users (MAUs), a 31% increase year-over-year, driven by a competitive product suite [5] - The strategy has fostered user stickiness and increased engagement with other digital account products, with TPV maintaining consistent FX-neutral growth of around 30% in Brazil and 50% in Mexico [6] Market Expansion and Logistics - The company is enhancing its logistics network to improve purchase frequency and bring offline retail online, reporting a decline in local currency cost per fulfillment order year-over-year in Brazil, Mexico, and Chile [7] - Advertising revenue saw robust 50% year-over-year FX-neutral growth, partly due to the expansion of inventory beyond the marketplace [7] Credit Portfolio - Mercado Pago's credit portfolio increased 75% year-over-year to $7.8 billion, while maintaining delinquency at comfortable levels [8]

Company Leadership Change - Fiserv has appointed Michael Lyons as the new CEO following the departure of Frank Bisignano, who has been nominated to lead the Social Security Administration [1][2] - Lyons has extensive experience in the banking sector, previously serving as president of PNC Financial Services Group and holding leadership roles at Bank of America [2] Company Vision and Strategy - Lyons emphasized Fiserv's commitment to innovation and delivering exceptional solutions to financial institutions, merchants, and communities, while also focusing on growth and long-term value for shareholders [2] - The company has a history of being a transformative force in financial technology for over 40 years [2] Previous CEO's Transition - Frank Bisignano's nomination to the Social Security Administration was confirmed by the U.S. Senate, with a vote that reflected party lines [3] - Bisignano had previously served as CEO of Fiserv since 2020 and was instrumental in overseeing the integration of First Data after its acquisition by Fiserv in 2019 [6]

Financial Data and Key Metrics Changes - In Q1 2025, total revenue reached approximately $213 million, representing a 67% year-on-year growth [26] - Adjusted EBITDA was $43 million, indicating a significant scaling in operating leverage [29] - GAAP net loss was $2 million, which was better than expectations, reflecting strong performance on net interest income [28] Business Line Data and Key Metrics Changes - Platform originations grew 89% year-on-year, with personal loan originations flat sequentially but up 83% year-on-year [5][9] - Home and Auto lending saw sequential growth rates of 5242% and 42% respectively, with auto lending growing almost 5x compared to a year ago [6][13] - HELOC originations grew 52% quarter-on-quarter and more than 6x year-on-year [16] Market Data and Key Metrics Changes - The volume of loan transactions across the platform was approximately 241,000, up 102% from the prior year [27] - Average loan size increased to approximately $8,865 from $8,580 in the prior quarter [27] - The Upstart Macro Index remains elevated but stable, indicating improving consumer financial health [6] Company Strategy and Development Direction - The company aims to return to GAAP net income profitability in the second half of the year, with a focus on expanding both core and newer products [21][33] - Upstart is prioritizing AI advancements, with a goal to enhance its leadership in AI lending and improve risk models [20][24] - The company is diversifying its funding sources, with over 50% of loan funding now in committed partnership agreements [30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in adapting to changing macroeconomic conditions, noting that credit performance has remained stable despite recent market turbulence [7][31] - The company is cautious about potential risks from reinflation and is planning for a steady macro environment [31] - Guidance for Q2 includes total revenues of approximately $225 million, with expectations for continued strong demand for credit [32] Other Important Information - The company has signed a one-year agreement with Walmart's FinTech, One Pay, to make its products available to Walmart customers [36] - Upstart's HELOC product has expanded its footprint to 37 states plus Washington D.C., covering almost 75% of the U.S. population [16] Q&A Session Summary Question: Can you talk about the Walmart partnership? - Management confirmed a one-year agreement with Walmart's FinTech, emphasizing the alignment of values in delivering consumer value [36][37] Question: Any trends in April and early May? - Management indicated that guidance captures the current trends, providing limited additional color [39] Question: Thoughts on conversion rates for the remainder of the year? - Management expects conversion rates to improve with better models and automation, aiming to reach around 20% [45] Question: Why is the 2025 outlook not higher despite new funding? - Management clarified that funding is not the gating item for growth; rather, it is the economic acquisition of the right borrowers [102] Question: How are funding partners reacting to market volatility? - Management reported no pullbacks from committed capital partners, indicating resilience in funding sources [70] Question: How is Upstart adapting to macroeconomic changes? - Management emphasized the adaptability of their models and a conservative approach to planning, with no assumptions of Fed rate cuts this year [74]

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was approximately $213 million, representing a 67% year-on-year increase [27] - Revenue from fees was $185 million, up 34% year-on-year, while net interest income was approximately $28 million, exceeding expectations by $13 million [28] - Adjusted EBITDA reached $43 million, indicating significant operating leverage [30] Business Line Data and Key Metrics Changes - Platform originations grew 89% year-on-year, with personal loan originations flat sequentially but up 83% year-on-year [7][10] - Home and Auto lending saw sequential growth rates of 5242% and 42% respectively, with auto lending growing almost 5x compared to a year ago [8][14] - HELOC originations grew 52% quarter-on-quarter and more than 6x year-on-year [17] Market Data and Key Metrics Changes - The volume of loan transactions across the platform was approximately 241,000, up 102% from the prior year [28] - Average loan size increased to approximately $8,865 from $8,580 in the prior quarter [28] - The Upstart Macro Index remains elevated but stable, indicating improving consumer financial health [9] Company Strategy and Development Direction - The company aims to 10x its leadership in AI, focusing on model improvements and automation to enhance conversion rates [21] - Plans to return to GAAP net income profitability in the second half of the year, with a focus on expanding both core and new products [23] - The strategy includes diversifying into super prime loans while maintaining competitive rates and processes [24][66] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in adapting to changing macroeconomic conditions, noting that credit performance has remained stable despite recent market turbulence [9][27] - The company is cautious about potential risks from reinflation and is planning for a steady macro environment without expecting rate cuts [32][33] - Management remains optimistic about the demand for personal loans, particularly as the tax season ends [56] Other Important Information - The company signed a one-year agreement with Walmart's FinTech subsidiary, One Pay, to offer its products to Walmart customers [37][38] - A universal shelf and a $500 million at-the-market program were established to enhance balance sheet flexibility [31] Q&A Session Summary Question: Can you talk about the Walmart partnership? - The company signed a one-year agreement with Walmart's One Pay to make its products available to Walmart customers, which has already been launched [37][38] Question: Can you provide trends in April and early May? - Management indicated that guidance captures the current quarter's trends, providing limited additional color [40] Question: How should we think about conversion rates for the remainder of the year? - Conversion rates grew from 14% to 19%, with expectations to drive them higher through better models and automation [45] Question: Why was the 2025 outlook not increased despite new funding? - The company was never short of funding; the gating item for growth is the economic acquisition of the right borrowers [102] Question: How have funding partners reacted to market volatility? - Committed partnerships have performed as designed, with no pullbacks from private credit partners or banks [71] Question: How is the company adapting to macroeconomic changes? - The company relies on adaptive models and has built conservatism into its planning, ensuring readiness for macro changes [74]

Financial Data and Key Metrics Changes - The company reported adjusted revenue growth of 4% in Q1 2025, exceeding expectations [8][18] - Adjusted EBITDA was $958 million, leading to an EBITDA margin of 37.8% [18] - Adjusted EPS grew 11% to $1.21, at the upper end of the outlook [10][18] - Free cash flow conversion exceeded 70%, with free cash flow of $368 million compared to $95 million last year [9][19] - The company returned $670 million to shareholders through share repurchases and dividends [10][19] Business Line Data and Key Metrics Changes - Banking segment revenue grew 2%, with recurring revenue growth at 3% [21] - Capital Markets segment saw adjusted revenue growth of 9%, with recurring revenue growth of 6% [22] - Non-recurring revenue in Capital Markets advanced 47%, driven by strong license renewals [22] Market Data and Key Metrics Changes - The company signed several new marquee engagements across the money lifecycle, indicating strong demand for core solutions [10][11] - The digital solutions segment gained traction, with a Midwest community bank selecting the Digital One product [12] - The Office of the CFO capabilities expanded, with a multinational engineering firm selecting FIS's treasury management solution [13] Company Strategy and Development Direction - The company is focused on driving commercial excellence and simplifying its portfolio, which is expected to deliver consistent financial results [7] - The strategic acquisition of the Global Payments Issuer Business and the sale of the minority stake in Worldpay are aimed at strengthening the financial profile and value proposition [7][16] - The acquisition is expected to be accretive to adjusted EPS, EBITDA margins, and free cash flow in the first twelve months [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the pipeline, noting that client spending remains strong despite macroeconomic factors [32] - The company reaffirmed its full-year outlook, anticipating continued strength in recurring revenue growth [9][24] - Management highlighted the importance of high retention rates and strong sales from the previous year as drivers for future growth [90] Other Important Information - The company is targeting adjusted revenue growth of 4.2% to 5% for Q2 2025 [24] - Capital expenditures were $233 million in Q1 2025, consistent with full-year expectations [19] - The company exited the quarter at a target leverage of 2.8 times [19] Q&A Session Summary Question: Feedback on client decision-making pipeline and Issuer Solutions business - Management noted that client conversions are live and the pipeline is increasing significantly year-over-year, with no signs of slowing spend [31][32] Question: Outlook for Capital One and Discover - Management expressed positive sentiments regarding partnerships with Capital One and Discover, indicating strong support for their initiatives [36] Question: Drivers for Capital Markets Q2 guidance - Management explained that the first quarter had a high non-recurring benefit, and the second quarter guidance reflects a return to normalized levels [40][41] Question: Banking segment's combined debit issuing business - Management indicated that the banking segment will see a significant increase in scale and recurring revenue due to the acquisition [45][46] Question: Worldpay EMI outlook - Management confirmed that the Worldpay EMI outlook remains consistent with expectations, with no signs of softening [50][51] Question: Cost synergies from the acquisition - Management highlighted that the largest cost synergies would come from rationalizing duplicate vendor costs and back-office optimization [58][60] Question: Accretion from Issuer Solutions transaction - Management stated that the transaction is immediately accretive and will significantly enhance cash flow and banking revenue [69][70] Question: Free cash flow and working capital initiatives - Management reported significant improvements in cash flow due to net working capital optimization initiatives [98][99] Question: Sales progress in capital markets - Management noted strong opportunities in both traditional and non-traditional verticals, with a robust pipeline and execution [106]

Core Insights - Block's Q1 2025 results indicate decelerating growth in gross profit for both Cash App (10% YoY) and Square (9% YoY), with stagnant user growth posing risks to its network-driven model amid macroeconomic uncertainty [1][4][7] - The company is at a strategic turning point, focusing on AI, digital lending, and brand repositioning to drive future growth [1][3][7] Financial Performance - Cash App generated $1.38 billion in gross profit, a 10% increase year-over-year, but down from 25% growth a year prior [4] - Square contributed $898 million in gross profit, reflecting a 9% year-over-year increase [4] - Block revised its full-year gross profit guidance to $9.96 billion, indicating a more conservative 12% year-over-year growth forecast [7] User Engagement and Strategy - Block is expanding its "bank our base" strategy by leveraging credit products and machine learning to enhance user engagement, particularly among direct deposit users [2][10] - The company faces challenges with Cash App's monthly transacting actives, as user base expansion has stagnated despite rising gross profit per transacting active [5][11] AI and Innovation - Block's internal AI initiative, "goose," aims to automate workflows and decision-making, with expectations to improve engineering productivity by 30% [8][9] - The Cash App Borrow product is central to Block's monetization strategy, with users who deposit paychecks being significantly more likely to accept loan offers [10][11] Market Position and Future Outlook - International GPV growth for Square is at 15% year-over-year, outpacing U.S. growth of 5.6%, indicating potential for expansion in untapped markets [12] - Block is recalibrating its approach by investing in AI, refining financial offerings, and targeting both Gen Z and mid-market enterprises to secure its future in finance [12]

SARASOTA, Fla., May 01, 2025 (GLOBE NEWSWIRE) -- Trump Media and Technology Group Corp. (Nasdaq, NYSE Texas: DJT) (“Trump Media” or the "Company"), operator of the social media platform Truth Social, the streaming platform Truth+, and the FinTech brand Truth.Fi, reincorporated from the State of Delaware to the State of Florida effective April 30 after Trump Media shareholders approved a proposal to do so in the Company’s annual meeting yesterday. Trump Media CEO and Chairman Devin Nunes said, “We’re thrille ...