The following is a summary of the Paymentus Holdings, Inc. (PAY) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Paymentus reported Q1 2024 revenue of $184.9 million, a 24.6% growth year-over-year.

• The contribution profit of the first quarter showed a strong growth of 29.6%, reaching $69.4 million.

• Adjusted EBITDA achieved a remarkable year-over-year growth of 135.5%, reaching $19.8 million.

• The company added $15.9 million in the contribution profit over the same period last year and projected an annual revenue in the range of $737 million to $755 million.

• Given a tax rate was suggested at about 33% for non-GAAP net income in the future, it is important to take note that the company has prioritized capital allocation towards organic growth.

Business Progress:

• Major business developments included the signing of several contracts with large clients across various sectors.

• The company was awarded a patent for an AI-based integration framework to drive operational efficiency.

• Paymentus also reported a healthy booking and significant backlog, highlighting the robust demand for their platform.

• The pace of implementations has improved to the pre-pandemic level with future growth expected to be fueled by new client onboarding throughout 2024.

• Paymentus projected both contribution profit and contribution margins to improve in Q2 and throughout the rest of the year.

More details: Paymentus Holdings IR

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