Paymentus Holdings, Inc. (NYSE:PAY) Q3 2024 Earnings Conference Call November 12, 2024 5:00 PM ET

Company Participants

David Hanover - Investor Relations
Dushyant Sharma - Founder & Chief Executive Officer
Sanjay Kalra - Chief Financial Officer

Conference Call Participants

Dave Koning - Baird
Tien-Tsin Huang - JPMorgan
John Davis - Raymond James
Darrin Peller - Wolfe Research
Matt O'Neill - FT Partners
Andrew Bauch - Wells Fargo

Operator

Good day, and welcome to the Third Quarter 2024 Paymentus Earnings Conference Call. This call is being recorded. All participants are currently in a listen-only mode. There will be an opportunity to ask questions following the management's prepared remarks. [Operator Instructions]

At this time, I will now turn the call over to David Hanover, Investor Relations. Please go ahead.

David Hanover

Thank you, operator. Good afternoon. Welcome, and thank you for joining the webcast to review our third quarter 2024 results.

Our earnings release documents are available on the Investor Relations section of the paymentus.com website. They include the earnings presentation that we'll make references to during this webcast. This webcast is being recorded. I hope everyone has had a chance to review those documents.

Our Founder and CEO, Dushyant Sharma, will make some opening comments before Sanjay Kalra, our CFO, discusses the details of the quarter and our guidance. Following our prepared remarks, we'll take questions.

Let me just remind you that we may make forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and we refer to non-GAAP financial measures during the webcast. Forward-looking statements are based on management's current expectations and assumptions that are subject to risks and uncertainties. Factors that may cause our actual results to materially differ from expectations are detailed in our earnings materials and our SEC filings that are available on the website.

Information about non-GAAP financial measures, including reconciliations to US GAAP, can also be found in our earnings materials that are available on the website.

With that, I'd like to turn the webcast over to Dushyant Sharma. Dushyant?

Dushyant Sharma

Thanks, David.

We had a phenomenal third quarter and overall, full year 2024 is shaping up to be a great year. As a result of our substantial progress, we are raising our full year 2024 guidance. And before I go into the details for the quarter, and talk about our exciting future, I want to remind you that our long-term CAGR targets for our primary metrics are 20% topline revenue growth, and 20% to 30% adjusted EBITDA growth. These targets remain unchanged even accounting for our outperformance during the third quarter. Going forward, we will refer to these targets as our CAGR model. Our CAGR model is related to our primary metrics only and should not be confused with our secondary metrics, which are contribution profit and OpEx. As we have done quite effectively in the past, we will continue to calibrate CP and OpEx as necessary to achieve our CAGR model due to the very strong operating leverage that is inherent to our business model.