While restaurant and retail categories are still underperforming versus last year given these trends, the travel entertainment vertical continues to outperform for us. even as consumer spending in that category slows.

Aug 1, 2023 / CEO / receipt, needs a key / Karim Temsamani, CEO | earnings call 2023-08-01 | transcript a8c7fa99-748c-43be-b3e7-eda3d61a9f84 | chars 3582-3799 | segment 3

So we've seen that overall, as we mentioned, Consumer is definitely slowing overall. So as we mentioned during the call, the spend from consumer is down in retail by 3%, for instance, and only slightly up in travel when it was up quite dramatically over the last several quarters. So overall spend is only up 2% year-on-year, which means that obviously it has some level of impact on advertising budgets as well.

Aug 1, 2023 / CEO / receipt, needs a key / Karim Temsamani, CEO | earnings call 2023-08-01 | transcript a8c7fa99-748c-43be-b3e7-eda3d61a9f84 | chars 17414-17826 | segment 17

The results have actually been, to some degree, versus what we have seen on the consumer side, where some of the areas where we've seen little slowness on the consumer side, again, namely travel versus the growth that we've seen before, and restaurants and retail where we've seen slowdown started to come back for us. So a positive trend in these areas for our business.

Aug 1, 2023 / CEO / receipt, needs a key / Karim Temsamani, CEO | earnings call 2023-08-01 | transcript a8c7fa99-748c-43be-b3e7-eda3d61a9f84 | chars 18175-18546 | segment 18