you, and for joining Thank to thank John, everyone you us.
First, to want echo remarks. I John's opening
the of and life. deeply the are by loss conflict We by and tremendous in saddened all Israel ongoing Gaza
results. with a in this Israel unless noted. basis All turn to time.I'd affected everyone our are discussion like colleagues third thoughts now Our comparisons our on are otherwise with the and year-over-year challenging to extraordinarily during quarter
We continue grew a growth, XX% delivered on We EBITDA our to margin. execute and adjusted generated by XX% revenue ICPs X%, strategy.
onboarding announced and by of impact a provision BXB of provided QX to we we we businesses, and monetization improved to usage, Third $X.X customer our in approach began about ongoing XXXX customer-centric an revenues we are this XX%, initiatives up year. card checkout more decline included million quarter the changes funds, the the enterprise $XXX growth higher bundling growth Investor earned rollout implement of when our expanding client, monetization that the million continue at in something testing income our with initiatives. other earned to guidance. services pricing and revenue was strategies.We also accelerating on product pricing from of driven we In talked revenue earlier line from interest Day, to and
for we example, transaction fees recently For small additional sizes. introduced
bonds. cross-border registration fees account monetize We our our are strategies significant well expanding of payment to our potential testing also as as in-network
far, better that with believe volumes in customer billion, there changes have opportunity driven volume prior up model, as BXB retention accelerated pricing, unexpected versus to service trends throughout We was period. our bundling, or the XX% to diversified to John that of about in is behavior our volume gains seen where remained and year-over-year. third XXXX well and approach retention. Growth not from aligned growth and wallet quarter improved travel share significant we also a growth e-commerce as the September marketplaces, strength stable to spoke acquisition So drive customer continued of economy volume with services-oriented nuanced large volumes. in more $XX.X year-over-year to any base.Volume our unintended has the reflecting BXB strong by or customer our one is X% X% spend, earlier, per year increased
positive verticals year. seen launched momentum with have this industry We earlier new
ability financial we points income we the from AP our driven points. single rate and $XX our utility the various from income quarter.Our by in by hold increased X% and was pricing take balances to Customer these funds utility balances real to levels the held and basis earned QX million higher in expansion stack AR in cross-border to of trust benefits and $X.X us customers, to account. the billion, us. their currencies initiatives. balances multiple third basis interest Our deliver with increased hold delivers have The customers needs interest manage The XX Payoneer a our customers XXX in and the of of our demonstrate
as as customer volumes We that grow grow. platform, our growth Over balances the seen we add into the platform see customer several features and and to past we we more should funds. years, utility robust have believe in
expect our line our investments We compliance platform macro used XX% continue and be infrastructure. fund growth to we to earned with short-term influence long-term balance seasonality and performance.For XXXX, in of be approximately in volumes, in will including while balance expect can broadly income to infrastructure, interest factors
stock repurchase to expenses income XX% of the decrease which interest offset which our bank usage operating up represented costs. to transaction to all balance We also capital was markets. stock-based costs, Total This transaction driven were partially increase. X%. from expenses our costs half compensation XX.X% Transaction Higher improvement and shareholders is impacting approximately of BXB basis our XXX designed represented with higher of prior towards businesses, expect higher and driving savings a million. and marketing plan, or and by point the our checkout increase of relatively from X% Transaction and by G&A, interest growth and $XXX increased million dilution higher $XX utilize in equity revenues the other $XX lower-cost expenses generated cost via offset increasing was period.The return processes fees, to substantially from revenue, and operating income, card the program. of million costs sales mix shift of year drive was approximately
expect card higher some than grow on certain to and paid faster Sales marketing checkout we transaction increased forward. upward volumes and would enterprise our million, aggregate reflecting BXB, expense funds. costs As pressure $X going commissions business,
primarily partner modestly million and flat operating efforts with increase M&A expenses. consulting driven designed to those efforts expenses streamline serve. our reductions primarily previously were and sequentially, by allowed X% $X a our regulatory regionalize, capabilities. our initiatives continued up ongoing Other of of by increased operations earlier declined and was offset sales broadly result and our third-party marketing by Excluding to expense our in driven $X spend streamline, operations drive in line function. to expenses commissions, million announced were increases and down an workforce expense legal to to organization.G&A year-over-year our aspects this us to reduce impact enhance compliance our expenses various These year-over-year outsource labor-related These year partially by cost have meaningfully and related the to and go-to-market of
optimizing increase XX% in by AI-based hiring towards interaction, result generative service have tools.R&D and XXXX a automating by platform, by due For our of partially example, workflow our of more $X end we cost in tickets by the of ticket so platform we reduced a since in million a investments processes, as resolve offset implementing organization. resources by an capitalization expense single in average the to customer declined the of shifting certain additional can
$X.XX.We We and our million roughly to continue EBITDA $XX operating million sustainable to business in $X.XX to and net Adjusted was diluted represents long-term up compared take year-over-year. the quarter in million XX% cash EBITDA the $XX of $XX or equivalents a we million was efficiency a adjusted ended second This $XXX compared disciplined loss earnings year. while quarter share this and and $XX basic year. drive third was $XX million third of quarter approach of to last greater cash drive invest was per year growth. to QX with a earnings of to in ensuring of revenue income the XX% $XX share million the margin. last quarter Net per in order million,
Our well XXX% above business cash year-to-date. and free positive flow, to our free rate cash continues conversion flow is generate
have the program buyback shareholders to share been inception our We in May. of returning capital since actively
We $XX third $XX shares, have million including repurchased approximately in of Payoneer's million quarter. the
repurchase for outlook. our shares expect approximately the to We million full-year.Turning of to $XX
our adjusted revenue XXXX XXXX We and are reiterating raising EBITDA guidance our guidance.
million have XX.X%, $XXX our For be $XXX to be or our the operations both is full-year, that be current as to to million.Before to and to ongoing we testament platform our drivers material impacted on on been of and infrastructure costs revenues war the into and of And a This the teams situation, like don't guidance, the anticipate of note between operations not I the adjusted business. or our business the by in $XXX transaction million, and dive revenue any Israel. $XXX disruption we to impact updated our incredible I'd EBITDA based expect approximately percentage resilience between million critical a and to ground.
safety, and our prioritize health, employees well-being serve continue we to the that customers. to ensuring of We continue our while
XX% relocation includes $X to are our ongoing quarter based guidance the XX% fourth assistance, impacted physical approximately Today, in one-time into there. to Israel, and teams our financial latest called research employees reserve while and in costs, in response of have our in place based approximately Israeli contingencies our million related support and we majority, to the expenses duty, roles including military been development Our a of employees are in less and well-being.Approximately mental conflict and than Israel, of have cover to programs XX% responsibilities.
our geographic outsourced and to broad us business and operations operating model continue footprint Our serving customers. enable our
guidance noted, revenue have we reiterating As at this our we time. are
and continue key in We long-term conviction to strategy have opportunities. growth our
October, XX% see guidance we usage and growth current the growth strong $XXX We where balanced ongoing interest improving We interest commercial $XX are our generating increased of adoption strategy.We business million, now trends forecasts and and in volume our We our customer-focused was full-year. products. consensus business, card to BXB by for in Checkout and rate driving in our of our income see million are expect monetization increasing reflecting for to income the be benefit performance. expect
quarter. increase increasing offset business fourth as and the by to We from uncertainty macroeconomic geopolitical expect we be begin in near-term this interest impacting our income headwinds
assumes our customers represent we customers guide will softer we from revenue. X% in are Revenues ex-interest impacted approximately result, million. income where activity a revenues As anticipate term. in by Israel, in total reducing our near economic revenue of Israel the $XX our our be This from
the scheduled instead.And early conflict, inflation for launched November consumer around spending but monetization certain early the rates. in long-term environment, business interest immediate in broader initiatives the borrowing in longer in delayed were macro we elevated for aftermath and implementation the see October that of we higher and Additionally, lastly, proactively of increasing from uncertainty
our Cash adjusted guidance We $XXX less OpEx expect million. less EBITDA. represents transaction OpEx XXXX cost to approximately be for revenue cash
efficiency areas for of business maximize to competitive to We order continue our and in deepen resources on available for to operating high-growth moat. focus opportunities our
our track ending year of to on commitment on deliver headcount started. the where with We lower we than are
conflict we XXXX, September, We higher in our third the plan R&D our well where to Israel.We in to Since mentioned to adjusted between to for fourfold XXXX the the of This previously spend EBITDA high-growth related we've and the high product as XX% be the opportunity community. for margin reflects $XXX reintroduce to are the the hosted Day, adjusted higher quarter quarter, to and of be a marketing platform. and going continue regions, to in a Investor as in on response seasonal financial than delivered we our operating expense spend raising versus EBITDA increase reflecting expect offering, investor In spend, had guidance XXXX number first expenses, including seasonally fourth adjusted ICPs in impact public $XXX higher EBITDA our million XXXX. Payoneer million. performance, we guidance rate increasing growing our exceptional take expanding and and primarily
Our priorities unique efficiency higher on focus adjusted execution for driving against margins. consistent and our to lower our pleased these third see is costs our underscore EBITDA strategic and quarter value operating that results customers.We're proposition
share may are value to We long-term line. for shareholders.We have. to open to and the questions additional now are capture our well-positioned you generate Operator, answer happy market please any
