Financial Data and Key Metrics Changes - The company achieved record revenue of $315.2 million for 2024, a 34% increase on a constant currency basis, aligning with guidance [14][44] - Adjusted EBITDA increased more than four times to $35.5 million, exceeding guidance [12][50] - Positive free cash flow of $18 million was generated, converting over 50% of adjusted EBITDA into free cash flow [13][51] - Gross margin improved to 45.1% from 37.5%, with gross profit rising 60% to $141.5 million [48][50] Business Line Data and Key Metrics Changes - Recurring revenue grew 47% for the full year, now representing 71% of total revenue [14][46] - Payment processing fees and SaaS subscription revenues increased by 47% year-over-year to $222.3 million [46] - Hardware revenue grew 9% for the year, supported by strong demand for automated cashless solutions [47] Market Data and Key Metrics Changes - Total transaction value increased 36% to nearly $5 billion, with a higher take rate of 2.73% [16] - The customer base expanded 32%, reaching over 95,000 customers by the end of 2024 [16] - The installed base of managed connected devices grew 21% to 1.26 million devices [16] Company Strategy and Development Direction - The company aims to drive growth in automated self-service markets and expand within retail and energy verticals [23][27] - Strategic focus includes partnerships with OEMs and enhancing the cashless payment ecosystem [25][30] - The company is targeting a 35% annual revenue growth by 2028, with a gross margin of 50% and adjusted EBITDA margin of 30% [59] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving 30% to 35% revenue growth in 2025, driven by market share expansion and recurring revenue growth [58] - The company anticipates continued strong demand for cashless solutions as consumer preferences shift [18][30] - Management highlighted the importance of operational efficiency and margin expansion as key drivers for future profitability [50][96] Other Important Information - The company has made several strategic acquisitions, including VMtecnologia and Roseman Engineering, to enhance its market position [34][36] - The company is focused on integrating recent acquisitions to drive inorganic growth [39] Q&A Session Summary Question: Can you discuss the 2025 guidance and organic growth expectations? - Management indicated that the 25% organic growth target reflects healthy expectations based on market share expansion and customer base growth [65] Question: What are the sources of visibility for the guided acceleration in organic revenue growth? - Management cited partnerships and the expansion of the OEM market as key drivers for revenue growth [109] Question: How do you expect ARPU to expand in 2025? - Management noted that ARPU growth is driven by the conversion from cash to cashless transactions and the introduction of higher ARPU verticals [84] Question: Can you elaborate on the improvement in payment processing gross margins? - Management highlighted renegotiated contracts and smart routing as factors contributing to improved margins [104][120]