Adyen N.V.

Good afternoon, everyone, and welcome to Adyen's H1 2024 earnings call. My name is Josh Massa, and I'm head of investor relations here at Adyen. I'm pleased to be joined today by our co-CEO, Ingo, and CFO, Ethan. For today's call, we'll start with a short discussion on our business performance and financial highlights for the period before heading into a question and answer session. For the Q&A, we ask that you please use the Q&A functionality at the bottom of the screen. And a reminder, the raise hand functionality will not be used. We ask that you leave your full name and the firm that you represent when submitting your questions, and we'll then unmute you to ask them live during the Q&A segment. Thank you. So thank you, Ingo and Ethan, for joining us this afternoon. Ethan, maybe starting with you, how do you characterize this period in the context of our strategy?

Yeah, thanks, Josh. H1 was a strong period of growth for us, a period where we were able to grow in line with the building blocks that we shared back at our investor day in November. We're especially proud that we were able to gain market share, both with our existing customers as we expanded share of wallet, and also with new wins, ultimately leading to 24% net revenue growth year on year in the first half. Also, if you look deeper into where we're growing, we see that we're diversifying across more and more verticals. That can be seen in the fact that we had strong growth in each of the commercial pillars that we talk about. And then lastly, on EBITDA margin, the operating leverage that's inherent to our business model was again visible as we expanded from 43% in the first half of last year to 46% in the first half of this year.

Thanks for that summary, Ethan. And Ingo, for you, what were some of the key business developments in the period?