Financial Data and Key Metrics Changes - Revenue for Q3 was $691.8 million, an increase of 3.9% year over year, with adjusted net income per diluted share at $4.59, up 5.5% year over year [6][7][28] - Excluding fluctuations in fuel prices and foreign exchange rates, revenue growth was 4.4%, and adjusted EPS grew 7.2% [6][7] - The company aims for long-term revenue growth of 5% to 10% and double-digit long-term adjusted EPS growth [7][8] Business Line Data and Key Metrics Changes - **Mobility Segment**: Revenue increased by 1%, with transaction levels slightly down from the prior year, reflecting overall market trends [16][29] - **Benefits Segment**: Total revenue rose 9.2% to $198.1 million, with SaaS account growth of 6% and HSA accounts up 7% [20][29] - **Corporate Payments Segment**: Revenue increased 4.7% to $132.8 million, with purchase volume down 0.9% year over year, but offset by an increase in the net interchange rate [22][30] Market Data and Key Metrics Changes - The Mobility segment continues to face challenges in the over-the-road market, with same-store sales softening [17][18] - The Benefits segment is positioned to benefit from new legislation expanding HSA eligibility, potentially adding 3 million to 4 million new accounts [22] - Corporate Payments is seeing broad-based adoption across industries, with a focus on the underserved mid-market [23][30] Company Strategy and Development Direction - The company’s strategy focuses on amplifying its core, expanding its reach, and accelerating innovation [9][10] - AI is being leveraged to enhance productivity and customer service, with a 20% increase in product innovation velocity [9][10] - The company is committed to maintaining a strong balance sheet and strategically investing in core businesses while evaluating M&A opportunities [31][32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company’s ability to deliver sustainable growth despite a dynamic macro backdrop [5][36] - The company is optimistic about moving past the OTA customer headwind and expects improvements in Corporate Payments [36][34] - Management remains cautious about macroeconomic uncertainties but is encouraged by the foundational work established in 2025 [34][35] Other Important Information - The company announced the appointment of Dave Foss to the Board of Directors, effective November 3rd, 2025 [24][25] - The company is focused on executing its strategy to deliver results that drive long-term shareholder value [26][36] Q&A Session Summary Question: What was the conclusion of the strategic review regarding the stock? - Management indicated that the board conducted a thorough strategic review with independent investment banks, focusing on executing the strategic plan and overcoming the OTA customer transition impact [38][39] Question: Can you elaborate on the trends in the Mobility segment? - Management noted a slight deterioration in the over-the-road business but emphasized strong sales efforts and customer retention strategies [40][42] Question: What are the expectations for Corporate Payments moving forward? - Management expressed excitement about returning to growth in Corporate Payments, with strong momentum and investments in product capabilities [47][50] Question: How is the company managing credit in the Mobility segment? - Management stated that credit standards have been tightened, and investments in risk models have improved credit decision-making [55][56] Question: What is the sensitivity of the business to fuel and interest rates? - Management provided details on the revenue and EPS sensitivity to fuel prices and interest rates, indicating a quick flow-through effect on both metrics [59][61]