Updated FY2024 Guidance
- The Company is raising several components of its FY2024 guidance due to: 1) continued sustained growth, and 2) the inclusion of the newly launched banking program with WebBank, which was not accounted for in previous guidance.
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- Net Income: $71.5 million versus $55.0 million provided with 2Q24 earnings.
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- Net Income per Diluted Share: $12.05 versus $9.25 provided with 2Q24 earnings.
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- Total Revenue Growth: 55% versus 35%-40% provided with 2Q24 earnings.
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- Total Revenue Less Transaction Related Costs as a percentage of Total Revenue: No change to the 55% provided with 2Q24 earnings.
- Additionally, updating the FY2024 guidance for the following metrics that adjust for certain significant gains, losses, and charges that may not directly correlate to the underlying performance of the Company's business:
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- Adjusted Net Income[2]: $58.0 million versus $40.0 million provided with 2Q24 earnings.
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- Adjusted Net Income per Diluted Share2: $9.80 versus $6.75 provided with 2Q24 earnings.
- The Company expects a mid-single digit annualized effective tax before consideration of discrete tax items for 4Q24.
