Paymentus (PAY) Raymond James TMT and Consumer Conference summary

Strategic positioning and business model

• Strong execution and strategic focus have driven significant stock appreciation and investor recognition over the past two years.

• Management emphasizes adaptability, disciplined execution, and maintaining a durable competitive moat.

• The platform is designed to scale across all verticals and client sizes, supporting ongoing sales and onboarding momentum.

• Innovation and expansion into new verticals are central to the long-term growth algorithm.

Growth drivers and financial performance

• Year-over-year top-line growth in the mid-30% range is driven by strong same-store sales, new bookings, and a diverse mix of large billers.

• Q3 delivered over 50% top-line growth, translating into strong contribution profit and Adjusted EBITDA.

• Focus remains on Adjusted EBITDA dollars as the primary financial metric.

• No surprises or material changes in Q4; business trends remain robust across bookings, implementations, and vertical diversity.

• Long-term CAGR targets are 20%+ for revenue and 20–30% for Adjusted EBITDA, with historical performance exceeding 25%.

Platform, verticals, and competitive landscape

• The Instant Payment Network (IPN) extends platform reach to banks, fintechs, and retailers, enabling pervasive customer access.

• Success with large billers is attributed to the platform's ability to handle sophisticated workflows and scale with client growth.

• Competitive advantage is reinforced by a best-in-class platform and proprietary network, making replication by competitors difficult.

• Expansion beyond utilities into government, insurance, telecom, property management, consumer finance, auto, mortgage, healthcare, education, and banking verticals.