We invest the money, not the infrastructure or products. If required, travel with us and can be leveraged by these businesses as and where it's applicable.

Mar 17, 2026 / receipt, needs a key / Akshay, CEO | earnings call 2026-03-17 | transcript c7feaf12-fc5f-4430-9a99-b99d42cf3500 | chars 25577-25732 | segment 26

Total compensation expense was $22.4 million, a 17% decrease compared to the second quarter of 2023 due to lower headcount and a decrease in incentive bonuses and benefits. This reflects our commitment to maintaining a disciplined expense management.

Aug 14, 2024 / receipt, needs a key / Karen Alexander, CFO | earnings call 2024-08-14 | transcript 815bbb78-4ae9-4443-994e-6aa1650bda44 | chars 17010-17260 | segment 17

Our loyalty business continues to perform with our sales volume numbers at 341.2 million year to date. looking on track to hit our full year forecast. Our loyalty business operates at scale, as demonstrated by our consuming facing rewards storefronts, attracting over 7 million visitors to date. It also operates with excellent performance, with a 12% conversion rate. To add some context, in comparison to travel and retail websites, a conversion rate of 2% puts you among the top 20% in the industry. A rate between 3% to 4% puts you in the top 10%. With BAC loyalty achieving a 12% conversion rate, this underscores and demonstrates BAC's exceptional performance in converting customers to purchase.

Aug 14, 2024 / receipt, needs a key / Andy Main, CEO | earnings call 2024-08-14 | transcript 815bbb78-4ae9-4443-994e-6aa1650bda44 | chars 10745-11447 | segment 10

Finally, investments in product enhancements, including our switch to a holistic travel platform and expanded Apple Storefront offerings, expect to increase our market competitiveness and profitability.

Aug 14, 2024 / receipt, needs a key / Andy Main, CEO | earnings call 2024-08-14 | transcript 815bbb78-4ae9-4443-994e-6aa1650bda44 | chars 12420-12622 | segment 12

Other expenses of $15.4 million include $6.1 million of non-recurring restructuring expenses. Operating expenses excluding crypto costs and ECB and non-cash goodwill intangible asset and long-lived asset impairment charges were $48.8 million. This represents a decrease of 16% year-over-year. This improvement is primarily due to a reduction in total compensation and benefits and acquisition-related expenses and reflects our commitment to maintaining disciplined expense management.

May 15, 2024 / receipt, needs a key / Karen Alexander, CFO | earnings call 2024-05-15 | transcript 4ab459b2-a946-493f-9953-f3ddb1ec995b | chars 16979-17463 | segment 17

We are committed to maintaining a strong liquidity position through prudent expense management and judicious capital allocation decisions.

Mar 25, 2024 / receipt, needs a key / Karen, CFO | earnings call 2024-03-25 | transcript fce4c770-67ad-4be3-a550-1a4d148d3279 | chars 28209-28347 | segment 29

In 2023, we brought down our expense base significantly with second half 2023 operating expenses including crypto cost and impairment charges, declining 42% from the first half of the year. As Andy mentioned, expense management will remain a key priority for us in 2024. We expect to continue to bring down expenses, with full-year 2024 operating expenses expected to decline 13% to 18% from 2023.

Mar 25, 2024 / receipt, needs a key / Karen, CFO | earnings call 2024-03-25 | transcript fce4c770-67ad-4be3-a550-1a4d148d3279 | chars 28348-28745 | segment 29

We are committed to maintaining a strong liquidity position through prudent expense management and judicious capital allocation decisions.

Mar 17, 2024 / receipt, needs a key / Karen, CFO | earnings call 2024-03-17 | transcript e0aaa359-0c9b-4677-8e2e-b19fa3b4947d | chars 28264-28402 | segment 28

As Andy mentioned, expense management will remain a key priority for us in 2024. We expect to continue to bring down expenses, with full-year 2024 operating expenses expected to decline 13% to 18% in 2023.

Mar 17, 2024 / receipt, needs a key / Karen, CFO | earnings call 2024-03-17 | transcript e0aaa359-0c9b-4677-8e2e-b19fa3b4947d | chars 28593-28798 | segment 29

This improvement is primarily due to a reduction in total compensation and benefits and acquisition-related expenses and reflects our commitment to maintaining disciplined expense management.

Mar 17, 2024 / receipt, needs a key / Karen Alexander, CFO | earnings call 2024-03-17 | transcript e0aaa359-0c9b-4677-8e2e-b19fa3b4947d | chars 18781-18972 | segment 18

Operating expenses excluding crypto costs and impairment charges were $195 million, down 19% year-over-year, driven by lower compensation and benefits expense resulting from the execution of firm-wide expense management initiatives over the course of the year.

Mar 17, 2024 / receipt, needs a key / Karen Alexander, CFO | earnings call 2024-03-17 | transcript e0aaa359-0c9b-4677-8e2e-b19fa3b4947d | chars 20140-20400 | segment 20

Since that update, we have seen continued softness in loyalty travel redemption levels, as well as lower market retail crypto transaction activity.

Nov 14, 2023 / receipt, needs a key / Karen, CFO | earnings call 2023-11-14 | transcript 50f8a9f3-0ffe-4acf-865d-b40019ab1624 | chars 22387-22534 | segment 23