Financial Data and Key Metrics Changes - Revenue for Q3 2025 was $310.7 million, an increase of 34.2% year-over-year, driven by an increased number of billers and higher transaction values [8][12] - Contribution profit reached $98.3 million, up 22.8% year-over-year [12][14] - Adjusted EBITDA was $35.9 million, a 45.9% year-over-year increase, representing a record 36.5% adjusted EBITDA margin [8][18] - The company exceeded the rule of 40 for the quarter, achieving a score of 59 [8][19] Business Line Data and Key Metrics Changes - The customer mix is shifting towards enterprise and larger mid-market clients, resulting in significant growth in revenue and contribution profit per transaction [4][14] - Contribution profit per transaction improved to $0.54, a 3.8% increase from the prior year [14][15] - The number of transactions processed increased to 182.3 million, up 17.4% year-over-year [12][14] Market Data and Key Metrics Changes - The company is in market capture mode, increasing market penetration and entering new verticals, which presents a significant opportunity for share gain [5][6] - The onboarding of a large B2B client in a new vertical has shown significant outperformance, indicating strong market demand [5][29] Company Strategy and Development Direction - The company aims for a long-term CAGR model of 20% top-line growth and 20%-30% adjusted EBITDA dollar growth [4] - The strategy includes vertical expansion and supporting bidirectional payment rails, which has opened up further total addressable market (TAM) opportunities [5][6] - The company is focused on creating long-term shareholder value through innovation and execution [4][8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the visibility for the remainder of 2025 and into 2026, supported by strong bookings and backlog [8][26] - The company is optimistic about the future, citing a solid foundation built over the years and the potential for TAM expansion [8][27] - Management noted that the quality of customers is improving, contributing to better cash flow and operational efficiency [47] Other Important Information - The company ended Q3 2025 with total cash of $291.5 million, an increase from $270 million at the end of the previous quarter [20] - Days sales outstanding (DSO) remained flat sequentially and declined by approximately 30% year-over-year, indicating improved working capital efficiency [20][21] Q&A Session Summary Question: Comments on onboarding a new B2B customer in a new vertical - Management highlighted the B2B market as a significant opportunity and noted that the new client is performing better than anticipated [29][30] Question: Contribution profit per transaction increase despite moving up market - Management attributed the increase to the value of the platform resonating well with clients and the successful onboarding of larger clients [32][34] Question: Visibility looking ahead to next year - Management confirmed high visibility and a strong backlog, similar to the previous year, indicating positive trends [36][37] Question: Who are the company replacing with new deals? - Management noted that large clients are looking for control and bespoke configurations, which Paymentus can provide, making it an attractive option [39][41] Question: Impact of four key factors driving revenue increase - Management prioritized the factors contributing to growth, with the successful launch of new billers being the largest component [42][43] Question: Sustainability of free cash flow conversion - Management emphasized strong cash flow generation due to high incremental adjusted EBITDA margins and improved DSO [45][47]

Group 1 - The 22nd China-ASEAN Expo focuses on sharing advanced achievements in artificial intelligence and green technology, providing opportunities for Thai enterprises to adopt Chinese AI technologies and deepen cooperation in green finance and digital economy [1][2] - The expo's theme emphasizes the potential of the China-ASEAN Free Trade Area 3.0, highlighting sectors such as food, agriculture, tourism, logistics, and digital commerce as primary beneficiaries [2] - The Thai government is promoting its western provinces at the expo to attract Chinese tourists and business opportunities, while the expo's various trade sections will facilitate business operations and economic exchanges [1][2] Group 2 - Krung Thai Bank is prepared to support clients with technology related to China's recognized achievements in new energy vehicles and solar panels, aiming to increase joint ventures with Chinese companies [2] - The bank plans to issue 200 billion Thai Baht in green loans and focus on green bonds, while emphasizing the importance of cross-border payment solutions in the digital economy [2] - The bank's goal is to act as a regional bridge connecting the Chinese economy with private and public sectors in various countries, fostering economic growth and creating new ecosystems [3]