Core Insights - Revenue growth of 12% in 2025 was driven by market share gains, high customer retention of 96%, and the strategic acquisition of CWT [1] - The digital transaction mix increased by 300 basis points to 83%, contributing to the expansion of adjusted EBITDA margins to 20% [1] - The acquisition of CWT, completed in September 2025, is expected to yield $155 million in identified cost synergies, with $45 million already realized through workforce and real estate consolidation [1] Strategic Focus - The company is shifting its strategic focus toward 'agentic AI,' which integrates enterprise policy, traveler data, and global inventory to automate complex workflows [1] - A partnership with SAP Concur is central to the strategy, utilizing the 'Complete' solution to migrate joint customers to a unified, AI-enhanced travel and expense platform [1] Operational Efficiency - Operational efficiency is being enhanced through AI tools that reduce agent handling times and increase self-service deflection, even for non-transactional inquiries [1]