The other thing I wanted to ask on in your prepared remarks, Melissa, you talked about the impact of travel on the guide for the rest of the year. So hoping for some more color on that. I think you have a few million dollars in quarterly revenue and corporate payments for Middle Eastern travel specifically. One, is that correct? Two, anything beyond that direct exposure that you're calling out either with regards to the impact for March numbers or I guess for the outlook for the rest of the year into Q&B on? Well, you nailed it. So it really is Middle East travel that we're seeing soft. If you look at Q1, volume was very normal. If you look at our overall growth in corporate payments, we feel really good. And travel volume growth was really quite strong across the portfolio. And so what we saw starting in April is that the Middle East corridor was starting to look softer. It's an order of about $3 million a quarter. We reflected that in our Q2 guide. And so we think it's a very narrow sliver of travel volume. But just to be thoughtful, it is a trend that we're seeing in our portfolio. The rest of the portfolio looks like it's operating as normal. And that's what we reflected in our guide.

Apr 23, 2026 / receipt, needs a key / Melissa, CEO | earnings call 2026-04-23 | transcript df9a49ed-c675-42ba-8063-04f91fac639d | chars 35756-36963 | segment 36

Travel-related revenue grew more than 30% in the quarter, supported by high existing customer activity and the onboarding of a meaningful new customer in Asia.

Feb 5, 2026 / receipt, needs a key / Melissa Smith, CEO | earnings call 2026-02-05 | transcript a880c61f-b1ae-481b-a63c-523d925fcbfa | chars 12151-12310 | segment 12

So spend on travel will look, you know, pretty consistent in the course of the year from everything we know.

Feb 5, 2026 / receipt, needs a key / Melissa, CEO | earnings call 2026-02-05 | transcript a880c61f-b1ae-481b-a63c-523d925fcbfa | chars 32784-32892 | segment 33

Yeah, so it is a similar product offering to what we're doing in travel. We just had added in functionality that made it more applicable outside of travel. And the places that we're having success is AP automation, media tech, expense management, e-commerce, areas like that, where we're finding you've got often new FinTech players that are in the space that want to expand their capabilities to include payments.

Jul 24, 2025 / receipt, needs a key / Melissa, other | earnings call 2025-07-24 | transcript 77f4ceb2-7d32-4fe2-8f21-c347d8a8879c | chars 51553-51967 | segment 53

Embedded Payments represents the majority of revenue in the corporate payment segment, including all of our travel-related customers.

Jul 24, 2025 / receipt, needs a key / Melissa Smith, CEO | earnings call 2025-07-24 | transcript 77f4ceb2-7d32-4fe2-8f21-c347d8a8879c | chars 13585-13718 | segment 13

The platform investments we're making to diversify from travel have started to bear fruit. We're seeing strength in our new customer pipeline and new customer signings and embedded payments.

Jul 24, 2025 / receipt, needs a key / Melissa Smith, CEO | earnings call 2025-07-24 | transcript 77f4ceb2-7d32-4fe2-8f21-c347d8a8879c | chars 14986-15176 | segment 15

So you're talking about total volume growth in corporate payments? I mean, that was, you know, 3% in the quarter. It was a slight improvement from the first quarter. It was, you know, predominantly in the travel segment. You know, we've now hit kind of the summer travel season and we're seeing kind of strong growth in travel.

Jul 24, 2025 / receipt, needs a key / Melissa, other | earnings call 2025-07-24 | transcript 77f4ceb2-7d32-4fe2-8f21-c347d8a8879c | chars 47058-47385 | segment 48

Yeah, and I actually wouldn't describe it as wallet share trends. What we have done is worked with them to have a more consistent pattern of the spend volume. So that, you know, there's always going to be some seasonality in travel. But what had happened last year was, you know, a large front loading and then, you know, not as much spend in the second half of the year. And that just created some comp issues for us. So we've been working with that customer to have it become much more normalized, which will create comp issues, you know, through the course of this year, but should then make it much more predictable in the future.

Jul 24, 2025 / receipt, needs a key / Melissa, other | earnings call 2025-07-24 | transcript 77f4ceb2-7d32-4fe2-8f21-c347d8a8879c | chars 47697-48331 | segment 49

The places that we have seen softness in terms of same-store sales year-over-year are more where people are either spending in T&E or just more discretionary spending that's going across that portfolio.

May 1, 2025 / receipt, needs a key / Melissa, other | earnings call 2025-05-01 | transcript 712a342c-d476-4cb6-9bae-3c28d56a516c | chars 28375-28577 | segment 28

So I think we'd look at discretionary spend, travel, a number of levers to contain the spend, and then the investment spending position.

May 1, 2025 / receipt, needs a key / Jacktar, other | earnings call 2025-05-01 | transcript 712a342c-d476-4cb6-9bae-3c28d56a516c | chars 48411-48547 | segment 49

Our portfolio is skewed towards international hotel spend, and we appear to be holding up better than the noise we've heard in domestic travel. At this point, we have not seen signs of a slowdown in our travel volume.

May 1, 2025 / receipt, needs a key / Melissa Smith, CEO | earnings call 2025-05-01 | transcript 712a342c-d476-4cb6-9bae-3c28d56a516c | chars 12065-12282 | segment 12

In our travel business, it is global in nature with two-thirds of the spending both originating and occurring outside of the U.S. and heavily weighted towards hotels.

May 1, 2025 / receipt, needs a key / Melissa, other | earnings call 2025-05-01 | transcript 712a342c-d476-4cb6-9bae-3c28d56a516c | chars 22826-22992 | segment 23

Continued Strong SaaS Account Growth

ir_statement / Sep 17, 2026 / receipt

Sales and marketing up mainly due to higher partner rebates as a result of volume increases.

ir_statement / Sep 17, 2026 / receipt

Service fees down due mainly to conversion to an internal transaction processing platform in the Travel and Corporate Payments segment

ir_statement / Sep 17, 2026 / receipt

These include costs related to certain identified initiatives (including technology initiatives) to further streamline the business, improve the Company's efficiency, create synergies, and globalize t

ir_statement / Sep 17, 2026 / receipt

Meaningful progress on integration of eNett/Optal

ir_statement / Sep 17, 2026 / receipt

NEW WAYS OF DELIVERING // Direct State Contracts

ir_statement / Sep 17, 2026 / receipt

Recent and pending acquisitions in high-growth business areas

ir_statement / Sep 17, 2026 / receipt

For weeks beginning in April 2021, growth rates for travel related customers were between 200% and 1800%

ir_statement / Sep 17, 2026 / receipt

SaaS account growth - driver of 2/3 of revenue, remains strong

ir_statement / Sep 17, 2026 / receipt

Purchase Volume ($) 8,736,019 3,168,064 5,567,955 176 %

ir_statement / Sep 17, 2026 / receipt

Return to Double-Digit Revenue Growth and Continued Strong SaaS Account Growth

ir_statement / Sep 17, 2026 / receipt

Increase in Travel and Corporate Solutions adjusted segment operating income margins reflects additional benefits from eNett and Optal synergies, and increased volume

ir_statement / Sep 17, 2026 / receipt