Earnings call transcript Q2 2023

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Operator

Hello, and welcome to the Paysafe Q2 2023 Earnings Conference Call and Webcast. [Operator Instructions] A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to turn the call over to Head of Investor Relations, Kirsten Nielsen. Please go ahead, Kirsten.

Kirsten Nielsen

to XXXX. conference welcome second for and of quarter you Paysafe's call earnings the Thank

today Bruce me Chief Joining are Financial Alex Officer Officer. Gersh, and Lowthers, Chief Executive

cause forward-looking that Before management's a statements current results statements and forward-looking most contained actual release expectations, in this recent statements earnings cautionary and are our assumptions factors the call conjunction we statements. and materially with should reminder that differ subject reflect will from and begin, in SEC considered be These could contain to to company's reports. those

should these You not place on undue statements. reliance

statements Forward-looking undertake date no speak as we of update to of them. during the call this obligation and this call only

also financial Today's contains measures. non-GAAP presentation

most and GAAP press the directly in today's You available the which of in measures our comparable website. measures can find additional the about financial release, information of Relations section on these are this appendix Investor presentation, to and reconciliations

turn Bruce. will to the over I that, With call

Bruce Lowthers

Thanks, joining Kirsten. Good morning, for today. us and thank you

We're let's results, quarter growth. with revenue So begin fourth year-over-year of pleased Slide marks to our which second consecutive quarter our announce X.

$XXX We of in Merchant broadly we led million our in consistent high-teens Solutions from discussed iGaming on and what growth X% first X% on year-over-year, revenue e-commerce growth by a with constant with quarter Second North had the continued resiliency in trends recorded or X% currency quarter. basis, increased segment, America. the SMB market in

user currency a X% continue increased constant In by improved on revenue where driven digital engagement. Digital we our Wallets, basis, to see classic wallets,

margin a XX year-over-year currency $XXX EBITDA X% adjusted XX% XX basis improvement. on point was of quarter basis Second -- and points of increased constant million

and across Assets, sales in reinvigorate our growth and our to Travel strategic Retail Gaming, verticals We and Hospitality. continue to drive Digital Leisure, transformation

define with contract as In enterprise quarter, than which each $XXX,XXX annual closed XX more value. agreements in a we we deals, the second

to on ratio. very of first broadly we're as low-end our nearly across margin ago. full year existing first little a ahead half, outlook EBITDA 'XX booked X% of original to compared Overall, revenue adjusted look XXX expectations, through expansion. expansion slightly raising our of basis including came across continues through revenue all are cross-selling more of net which in Based pleased margin we we than half in a our our leverage and year X.X% our the when client 'XX, cross-selling wins and growth, more X.X%, of reflect to a reduction base, points Additionally, as deals with sizes, the we well the the raising growth our in outlook, which growth to XXX range results

X, sales Slide expansion, transformation, our to on continue enabling also term. which a success we to iGaming, and in us of product through to 'XX only from across which growth American key and of North market our customer initiatives longer base, cross-selling our in In Turning strategic innovation, but our progress are strong experience is customer not transformation. benefit sales expand into deliver pillar I'll existing

a Interactive, we our pleased capability, share wallet Penn relationship currently ecomm digital in an Penn is North expanded we've existing I'm example, and one that live expanded operator leading our states. As with to with relationship now in XX our have America. client

announced have agreement a you seen ESPN. As just may they sports betting with

region. now year. payments, our this popular regional customers some of reach accepted growth as of in clients drive the we've capability operators launched forms and our added Ontario, with America including products, merchants regional popular in enabled enable widely which and when last volume offering Latin new region. strong payment Bally's product more with market well e-transfer It's We've three Canadian the payment Ontario to our method XX lotteries. also continues live Canada, suite In of to the from the in attract interest most including to interact as

global our as and second including cross expanded quarter, with existing a selling base well-known merchants long-standing Latin a European Betsson, the the brands multiple We're entertainment client into we financial our well offering client, large signed leading agreements as America also quarter. interactive iGaming with product company. during In Epic Games, trading

methods their to transfers. We with real-time wallets are providing other customers their ForEx accounts, regional bank digital ways and including new trading fund our as payment such

platform We in Europe, digital client, Paysafe's deal such solutions e-cash an as recent existing licensed a are Adventure, cross-selling our our Mill wallet was Germany, in its products within adding also with Germany. and for customers iGaming

but verticals. cross-selling on very lot across a new strategy, had of with we've focused clients activity winning also So, we're key our our

we're Paysafe is example, daily their provider. operator. North have for processor an with sports agreement America, one thrilled leading now signed replacing fantasy current to in a As payment them the PrizePicks,

payments As, increasing partner, and execution clients structure, these go-to-market deal while size deal has new supported we've improving discussed and with wins previously, strategic which a new also our and as global our both our existing by ability to Paysafe were pipeline. average sell improved

have to We clients net seen of with and year ago. a retention greater a revenue enterprise existing negative our retention net XXX% of than merchants, retention stronger also our growth year-to-date compared

Turning to product updates a few innovation. on our

to per excited we're money, which engagement have higher user. support new our revenue eCash fund and features users, and launched spend First, including for will ways to new their

as payment support to have payment We these to digitizing needs outcomes. other methods with of cash. We have particularly XX beyond typically graduate countries retention, initial we rolled higher users impressed and with the has today features or this believe out also

APM merchant payment localized them our on a and their assets offer to priority Next, personalized more to customers. global e-commerce enabling experience bring our our to Paysafe's strategy, direct base, to

new portion in MB our wallet high We've to Way was the payment product several method Portugal and methods already a within with We existing enhancements approval 'XX, set. consumers launched QX regional of are digital along local adding in our in payment rates. utilizing large

and us enterprise merchants to new offer the direct allowing Way consumers architecture, as integrated gateway. MB Our own regional our our such our to existing already into payment to being methods through methods digital wallet are our

also through region We a offered payment great that example in integration. which Brazil, method popular is Pix in of single enable the transaction another we a

quarter, the we tokenization, increase enable and that which fraud enhanced helps level is during improved reduce of an experiences. authorization customer security Lastly, rates, to network introduced

color that So making provide and progress more all come our with back some Day we shared strong We're the the and in of year seeing at 'XX. in these initiatives beyond it to half you the March. around examples of results in with our Investor in second we're

we've saw an our ongoing Moving from constant underlying calls. and active delivered classic earnings we of on wallets, quarter, digital our in X the the the three-month to XX% the base second stabilization Slide approximately user we XXX,XXX recent revenue growth which of for with consistent classic update wallets. provided most with update currency is actives, In

user. to drive retain funnel optimization per make more with spend the users continue checkout progress to gateway work improve to our and We experience our through conversion merchant

Overall, we when continue see benefit growth exclude of including average interest revenue. in the active to per per double-digit user, stronger both even transactions and we engagement, revenue user

So year, to with we've here consistent the experience. improvements the are and the drivers checkout what journey highlighted such customer throughout as

customers use our the platform. appeal onboarding engaging features of while, self-serve a provide and the cases to same encourage is at seamless unique and to goal that wallet loyalty ability app journey broadening Our with time, in the

And results. with I'll Alex ask review that, to the financial

Alexander Gersh

everybody. good morning, Thank you, and Bruce

Volume an Slide Let's for the our financial the or of quarter, in of currency revenue billion second was total also X% results. summary of increase on a year-over-year $XXX.X increased $XX.X X constant move million X% to and X% basis.

as in supporting Merchant continued business consumption from the journey driven side growth segment, by our SMB to growth improvements consumer, strong on the U.S. of resiliency we as the iGaming was digital continued In as wallet, in well experience. food the business. the beverage transportation, customer and In from saw Solutions checkout growth space, such our e-commerce underlying and

XX.X%, Adjusted increase leverage. currency. quarter $XXX XX% million, digital year-over-year EBITDA Adjusted margin gross operating for wallet reflecting in or points, constant of second higher the and EBITDA was an of basis the increase XX was segment margin an X%

from SG&A QX, our last As a XX.X% year. of revenue, in was QX in percent of total down XX.X%

conversion in million We reflecting QX, of XX% adjusted generated EBITDA. free flow $XX in cash

our On million taxes safeguarding to one-time in of the share prior was in for income basis, to XXXX, quarter per practices. $X.XX million, reflecting mainly of for second last interest free second was reflecting million per XX% Conversion approximately net Adjusted $XX.X share expense an was $XXX or quarter year, the million. range and in roughly compared higher the conversion $X.XX related of to or $XX.X items increase due expected LTM cash periods than flow XX%. of $X

Let's move with discuss results, to starting to Slide Merchant the Solutions. segment X

million, $XX.X our the Solutions Merchant basis in XX.X% Adjusted an third-party as in billion, volume Merchant year-over-year. points second Solutions business increase quarter quarter X% revenue mix channel. the was which X%. Second of And reflects an in increase down margin, EBITDA strong $XX.X particularly X% growth year-over-year, was partner increased $XXX.X to million, for of XXX was reflecting

We continue on through channel. partner our e-commerce driving in direct our Merchant which as as to have to Solutions well our both channel margins focus pipeline, sales relative higher growth

on Turning to segment Wallet Digital Slide X.

$X.X currency, margin, X% in EBITDA increase was on in X% basis. was for increase a Wallet Digital a XXX X% constant constant increase portal year-over-year an $XXX.X up a volume or increase million, segment XX% $XX.X Second was reflecting XX.X% of and digital points. basis billion, an revenue Digital X% the of year-over-year wallet Adjusted quarter year-over-year. million, second Wallet currency and

second progress continued seeing by which revenue an growth experience revenue on our and increase led progress as transformation, drive to sales initiatives are user in supported from stronger the well we our highlighted, was Bruce expect consumer in by early product interest as also As focused on innovation, growth deposits. Growth half. we

and of debt. EBITDA million. our decreased and XX billion quarter totaling end remain we and of quarter, $XX in the quarter. of $X.X debt XXXX. our during highly times total our reflecting of the second at I'll that Slide to $X ratio Year-to-date, reiterate billion leverage compared Net have debt a the debt prepaid million was at Movement for focused repayments we in debt to year. increased FX approximately to X.X repayments debt At by end $X.X times summary end, growth approximately to Turning balance on $XX further debt and the X.X of leverage repurchases was last reducing million leverage.

be we of continue times range believe year-end. in the by X.X a We times to X.X will to

our X.X%, EBITDA raising more Slide results the maintaining points on to outlook are of than X.X% date, XXXX in Now outlook on Based slightly adjusted moving our XXX year to range expansion. to XX. basis a revenue margin we while growth full to

range $XXX to million range the in reported million, high range XX.X% expect reflecting to $XXX to of the end of billion come to in of revenue We from EBITDA adjusted and margin to likely EBITDA $X.XXX we expect billion towards adjusted $X.XXX the XX%.

Bruce the to I'll Now before we for take call turn remarks back closing questions.

Bruce Lowthers

of want to the stabilizing their hard to guidance, what I closing, focus approximately and customer in day. highly relentless In every and 'XX remain thank leverage providing attractive, based while our resilient we're our end on on Paysafe. runway Thank winning increasing midpoint growth on are on track exciting business team 'XX, growth the Alex. our we you, seeing significant X% opportunities and today, in Based for reducing for ratio. markets margins work After our deliver and for well the

Now begin session. Q&A let's the

Kirsten Nielsen

Bruce. you, Thank

to will analyst take we'll shareholders our After platform, the research Say allows a We and community. questions of up questions submit vote turn to couple from questions. which Technologies that, from

who first to headwinds the Bruce, Our from like question would what address you Leslie, to are growth. one? this asked is

Bruce Lowthers

question. Sure. the Thank you, for Leslie,

Europe. growth, have and marks growth Russia regulations some But And some stabilize we of FX that in that QX gambling impacts revenue absorbing growth. clients related changes last to the and business. these improve a year-over-year seen reiterate headwinds, year we've a to we've and while and in impacted fourth making to that quarter returned the of while return war the to and me absorbing our our consecutive number done Let performance particularly

in key In saw in our regions strong America, Going end stability XX% reflects North our in 'XX. in growth effectively progress America, and of are quite EBITDA double-digit a guidance, that we're believe we continued today U.S. and year growth we revenue flat QX, which and growth the wallet good is e-com midpoint seeing forward, from X% segment. in all healthy, confidence full the which at SMB Europe aren't digital our revenue improvement impacts seeing outlook, growth Latin in markets in anything and growth our market, achieving we

Kirsten Nielsen

Okay. Bruce. Thanks,

projections question? Our who to next this Sachin, plans debt. can you are is and Alex, what question asked from Paysafe take reduce

Alexander Gersh

Thank for Yes. the you question.

the times company. our presentation year-to-date, of XX% which the and And as increase we in said continues our from to reduced on debt guidance, of a of I you my $XXX will we net improvement year-over-year, million, to as As completed during growth, and million, net at is are already adjusted remarks, be driving an the approximately the saw $XX is we priority ratio which reduction and X.X leverage X.X midpoint end support mentioned. in repayments have this of XXXX, EBITDA leverage course, our The profile. for our of Bruce times

net put Longer times to term, of X.X So leverage towards ratio the the we X.X believe will times year-end. range our we're X.X times target. that by driving in

Kirsten Nielsen

Thanks, Alex.

also asking We of one? year. received quarters what next few into Bruce, the can couple you could expect a take questions shareholders our and next over this

Bruce Lowthers

growth start you to and see innovation. second our sales transformation, product Look, at the to half happy Yeah, strategic year add client around proof earlier, to experience the the just 'XX of and on related points to. initiatives beyond, look into remarks our we to and and when

days, have sales In much deals, seeing to ago. won, early than base a existing a wins merchant little within very pipeline year was ago. that's it multiproduct cross-selling a we compared it's geographically our we've cross-selling While we're year already the larger and

about, side, the leveraging we've we've to adjacent off our around as EPM optimization global key on product initiatives markets. then have improving -- and platform we And rates been wallet our talked

while towards we've headwinds leverage. higher our revenue I'm driving the and weighing today ago. quarter market some profile. year a reported that growth, top of than and fourth stronger in we're a that free We've position we're driving on double-digit line So flow, delivered cash again, were EBITDA lapped confident we're our of we consecutive margins midterm growth reducing higher

Kirsten Nielsen

lines from the Thanks, take Operator? turn Bruce. All right. the operator to to With call that, the open the let's analysts. back questions up to

Operator

Thank you.

from We first conducting Scott will question-and-answer coming now [Operator Wolf question Instructions] today Wurtzel Research. be a is Our from session.

now line live. Your is

Scott Wurtzel

from questions. morning, active remain Maybe guys per continuing few start the my users stabilized the still to to active to perspective, user but over thanks but the on first a and great wallet see Thanks. I Good engagement it's for segment. taking last off mean well, trend quarters. transactions seeing flat

what see growth kind expect active to sort at point wondering of the some in active finish, we when user of you're growth return base future? and to around just rise to to So start that doing user that the

Bruce Lowthers

for thanks question. Yeah, Scott. Good the morning and

it QX pretty go to looked wallet declining wanted versus at significantly. platform. stabilizing 'XX business, We look, think I we So as focus the on really you back the to 'XX, QX was

some So do. needed a couple the changes of things we to to We needed to make platform.

great the as a team on I we've moving the about started a drive the think of improving things done expanding functionality the we've now users of that, a got that number into We've that the of our now users talked has platform with done platform. mechanisms there job to with to couple focus we've platform.

we a Investor One, Day, be platform platform. mechanism We we onto in year, that's merchant us. as end believe of the users more our about we'll the that driving for to focus come start a to obviously, talked continues the

excited in platform We about market a the fashion. very also to coming non-branded are

and it an And we that are unbranded out there so platform out really working selling in fashion. going

So we're in the opportunity pleased product we've we'll users. made. excited and happen really three-month needed start things We're then, the changes expanding focusing to with there. about active the Those on first, that

Scott Wurtzel

and the well. follow-up, a digital kind just a when you strength further hospitality maybe retail, saw got at Got iGaming, trends verticals in if travel and as parse little it. I the America some can of just bit leisure, you And in in helpful. assets out wondering as you quarter, then that North but look trends by That's throughout mean, we how

Bruce Lowthers

think from I a ago. overall, bit improved where was Look, business the it has year quite a Yeah.

So of exceptionally businesses, the doing obviously, some are well.

being from in a Some well, ago. was I verticals construct the on to of Others touch year rate verticals. the like with tried were that vertical. at comments, are back doing gaming retention down exceptionally our coming XXX% And the prepared that think really of our we declining

good really business, about good verticals very in. it. we've stabilized the We about So we're feel the feel

and digital look for to foreseeable all TAMs growth you the the these verticals When huge and travel the assets at vertical, are verticals double-digit big you look at gaming leisure, future.

place. a like we us right have we for really in we're experiential the economy we the And So for where can feel organizing do a seems place long our The efforts we products to feel now grow like We're time. experience. our sales that. client and

market. well this feel be we to we're like very in positioned So competitive

Scott Wurtzel

results. congrats Thanks, on the guys and

Bruce Lowthers

you. Thank

Operator

you. Thank

Next Aditya question from Bank today Buddhavarapu coming of from is America.

line now Your is live.

Aditya Buddhavarapu

Hi, taking question. Thanks for Bruce, Alex. my

Bruce Lowthers

Good morning.

Aditya Buddhavarapu

morning. Good

my from coming Just side.

the guidance, particular of the us at the of moving with you've revenue into sort just talk that if Q is look sort of about X% for X% or drivers. second should OpEx rolled some second said. how the to you guess, think in growth line in sort forward, to which still half? what could Just If the parts numbers of terms implies about you better sort Anything I in in which of I effectively about of growth half,

moving So first question. any think That's there? to parts the key about

one, Second the cash some Alex, some flow, for items there taxes one-time same you were free cutting practices. mentioned on and

could if how big impact just one-time half? How the that on second that expand you about drivers should and the does for you that. was think So

Bruce Lowthers

Yes. Thank you.

first. really about will do don't probably. backwards, can question you we the tax to I go and first why -- And guess Alex, guidance, the you So we'll then question is

Alexander Gersh

which normal conversion there the the That's but about in net-net, the expect for why payments XX% way that previous increased rate. one-time in the and on that. would said that had Safeguarding the so taxes changes that the expect continue we our be on flow. We conversion reduced cash remarks quarter working, we we've to XX% is our tax the cash some some free flow the to made were impact I Well have that in free cash this periods

about how that's So think to it.

in of terms ahead. And guidance, go

terms we guidance, both grow way midterm very, to and wallet -- I from think I we beginning digital that same. very it -- terms the In the of expect the we roughly think of in said

digits in the first digits low-single expected the higher-single We in half, half. second

beaten We the have guidance.

guidance, increased didn't at We the did guidance, that this to revenue to have did say at an same. while be clear the I our not So perspective, from that but remain the we expect is higher and we We be end of the we very drivers the guidance. necessarily increase -- want EBITDA right? midpoint, the say

Aditya Buddhavarapu

All getting -- we ahead maybe CM still a this just year If given some year you're sort more there think or the and momentum very the of of clear. enterprise Maybe cross-selling, past time you're getting you sort further the that of expected might right. the you've seeing mid-term. than of or mean, That's I had I that part expected? have stretch I is on even internally? you about I the mean, one the which low had would ago could trajectory growth add say spoken at in sort question double-digit into in of of it earlier wins, you

Bruce Lowthers

and answer let I'll then I'll Yeah. up. Alex clean it

months So we I be where what I when go of we're in if XX ago. we I came would thought year, a a little say think would we is, XX, back ahead

on very good So track, I we're feel about it. like feel right

be I the where a track be. be right growth we at we double-digit want thought X% on while six-month little to would good that said, as we're Investor company. growth. to where We would Day term, about an the of a we talk a that. we think mark about at longer did We We Alex year feel we're we ahead -- just think

I single shaping upper year for executing year, bit of are. the as the or We up. overperformed model just of the the segments And feel is same. the very half about feel still back that two about outperformed the good the is Alex the digits parity that. we're feel the still little on good year, in still half where said, a very first We very way comfortable between about we

Aditya Buddhavarapu

Great. Thanks, Bruce.

Operator

Thank you.

Next Timothy Credit coming from Chiodo from question is Suisse.

is Your line live. now

Timothy Chiodo

within had Solutions also second it Merchant here. you channel, partner gross about little lot. I and with could ask profit bit specifically, wanted cetera., believe Merchant the half for QX, what's but around Solutions. to for about more do I put et to the segment ask to I the growth, growth want gross a about profit full guide. Thanks implied the year mix if context Merchant a

Bruce Lowthers

Yeah.

So from margin our the Alex forward QX let again, business. into little channel we QX e-comm I I'll think impacting in see growth are (ph) in answer, a carrying that good of really but seeing our bit mix but and still product ISO

book. start basis better margin margin is that things balancing Obviously, out reading we're e-comm time, over back on much as a our So moving will than margin forward. a our

So you're right. [Multiple Speakers] yeah. Go ahead.

Timothy Chiodo

I gross that. the for profit about to was the half second trying for the growth segment. Sorry Merchant for get to implied rate

Alexander Gersh

and e-commerce, I to -- the year the see terms side, half of it the hopefully, certainly in the doesn't think change half. in as second don't -- the in gross the it margin the may direct we'll side because mix gross direct won't change I changes margin itself, e-commerce but I as mix on second the side, think in well in of -- acceleration think

And that XXXX, will the We see changes. acceleration. hopefully, in next you'll then year see

Timothy Chiodo

you, both. Okay. Thank Excellent.

a brief If don't follow-up. you mind

was of a little what's of the the the for in more margin. higher bit Could mentioned implied that's direct year? channel growth direct channel you was also about and the second second focus, quarter and the just So half the talk what that you the

Bruce Lowthers

channels. growth I'm the the we're me, channel my -- -- direct the head, just digits probably channel but front have do on in trying all in Yes. to here don't our mid-single aggregate we in of of our but aggregate, direct math on I direct in

The bringing board moving changing place, channel. around the is strategy We're taking the direct progressing. on along. sales marketing it's transformation So

very there. good So pieces we've we're had making. about I that a progress lot the of moving feel

about channel and With bullish direct be to forward. very the direct we channel honest, move really, the as

Timothy Chiodo

that, for you Great. Bruce. Thank

Okay.

singles. mid So to

Thank below below really total it’s helpful. So it’s not not That’s you. but segment growth. too far –

Operator

[Operator is you. from Thank Susquehanna. next from Friedman coming question Jamie Our Instructions]

live. now is line Your

Bruce Lowthers

Jamie. Hey,

Operator

phone mute. Jamie, your your Please handset unmute. off take is pick or phone your perhaps

James Friedman

I'm sorry.

Sorry a about little relative the e-commerce hoping on business, iGaming dimensions I I us that. the to help business the those would was could unpack related the of was gambling you helpful. mute. be business, any size and

Bruce Lowthers

and e-com iGaming the Jamie, unpack was one, the To what -- sorry. I'm other

James Friedman

Gambling

Bruce Lowthers

In gambling our business acquiring our total or revenue merchant our bigger e-com is of the Obviously, piece, acquiring our past. obviously, stream business. piece it gambling business, a in we've right is driven of in much that is by as the a total XX% predominantly much smaller merchant piece around e-com talked about extensively

is merchant existing So our very customer the Obviously, it e-com and about gaming that going e-com a very with now I APMs good vertical. our cross-sell the customer base into piece, to base. success be component having of lot the that feel that or well. of acquiring. whether into We're ability existing

seeing segment. And good that so of real we're out growth

James Friedman

you like then, Analyst And both through in can it opportunity? Yeah, us to strategy, rate Bruce. the remember help unbranded terms the that but Okay. maybe the of Day, think unbranded and the I use had sounds alluded at the take interesting. cases you for

Bruce Lowthers

Well, think excellent of to verticals. on a probably it's to look, in do But I the us, what look, rate strategy. really take is talk be branded the about early couple we're trying for

tremendous providing to different way. So travel really amount we're what and verticals, when digital in of our verticals, and a want a with our services gaming really opportunity leverage to platform at we look we vertical, there's those in be exceptional hospitality, focused that's on. We the assets, think leisure,

done of to ability there's branded wallet. do to move we used market we labeled as something Interactive. grow think do, Penn forward NetTeller catch we over brands we co-branded as historically, fashion. think significantly a And Grill white asset really we gone and we've with going 'XX. We've there's As an the And opportunity year that's our think to wallet We the only on into within you the other digital or and there. that We've to last have know, that's other sell version have people's as that we learned in can our and unbranded things leverage space. and fashion a

James Friedman

you, Thank Great. both.

Operator

of question-and-answer We back I'd our for comments. Bruce reach like further any end to turn floor over closing to the the or session.

Bruce Lowthers

and Look, and the you I transformation very quarter, innovation joining product today. much. and everybody Well, appreciate them help improving successful forward great to our effort really appreciate a thank focus for, client I to looking again, forward. on bringing moving team energy just want clients thank our around great to as our all to us experience of be sales we're

very So a you. Have day. thank Thank great you much.

Alexander Gersh

Thank you.

Operator

Thank and you. That does conclude webcast. today's teleconference

your participation today. You thank a We line your wonderful for time and this have may disconnect you day. at

Paysafe Limited (PSFE) 15 Aug 232023 Q2 Earnings call transcript