Payoneer Global Inc.

Good afternoon. Thank you for standing by. Welcome to Payoneer's second quarter 2022 earnings conference call. At this time, all lines have been placed on mute to prevent any background noise. Following the speaker's remarks, we will open the lines for your questions. As a reminder, this conference call is being recorded. I would now like to turn the call over to Michelle Wing, Payoneer's VP of Investor Relations.

Thank you, Operator. With me on today's call are Payoneer's Co-Chief Executive Officers Scott Gallat and John Kaplan, as well as Michael Levine, Payoneer's Chief Financial Officer. Before we begin, I'd like to remind you that today's call may contain forward-looking statements. These forward-looking statements are subject to numerous risks and uncertainties, including those set forth in our filings with the SEC, which are available in the Investor Relations section of our website. Actual results may differ materially from any forward-looking statements we make today. These forward-looking statements speak only as of today, and the company does not assume any obligation or intent to update them except as required by law. In addition, today's call may include non-GAAP measures. These measures should be considered as a supplement to and not as a substitute for GAAP financial measures. Reconciliation for the nearest gap measure can be found in today's earnings press release, which is available on the company's website. With that, I'd like to turn the call over to John to begin.

Good afternoon, and thank you all for joining us today to discuss our second quarter 2022 results. As this is my first earnings call since joining Payoneer on May 25th, I would like to first thank all of my colleagues for the warm welcome that I have received. I'm impressed with our talented team around the world, and with the work Scott, Michael, and many others have done to build a global, diversified business with a great brand, tremendous assets, and loyal customer relationships. Payoneer is well positioned to be the leading financial operating system and platform for small businesses globally, and I see significant growth opportunities ahead. On the call today, I will begin by discussing our vision for Payoneer, followed by Scott, who will provide more details around our top-line growth drivers, and the trends we're seeing across our business, and Michael, who will discuss our financial results and guidance. The World Bank estimates that 90% of businesses are SMBs, and they represent more than 50% of employment worldwide. However, access to financial services is a key constraint to global SMB growth. In emerging markets, doing business across borders is often the only way to meaningfully scale. These businesses These cross-border businesses are our customers. The Payoneer team believes that brilliance is evenly distributed around the globe, but opportunity is not. At Payoneer, we are not just selling a product to our customers. We are providing them with the tools they need to access global markets and demand to run and scale their businesses. We make it easier and more efficient for our customers to get paid, We enable them to utilize the money they receive wherever their business needs it to go, in the currency that they desire. Our most active customers utilize our full platform to get paid, manage their finances, and pay their suppliers, partners, and employees. Given our global reach, our scale, our tool set, we are seeing Payoneer's network effects as customers benefit from being part of our global ecosystem and all of the connected SMBs on our platform. Our customers are in a wide variety of industries. They are exporters selling goods cross-border, freelancers and businesses capitalizing on the digitization of the workplace and remote work, service companies exporting their capability to international clients, vacation rental hosts reopening after the pandemic, and digital creators delivering their content to consumers around the world. Our geographic reach extends across more than 190 countries and territories, and with our expertise and our technology infrastructure, we have built a financial network for the future of global trade. We have a deep moat around our business, given the operational and regulatory complexities that are required to run a trusted global financial services platform. The diversity of industries and geographies we serve means that our business model is resilient to individual market trends or shifts. The heartbeat of our company is our customers and their engagement with us. We continue to see strong customer growth both year over year and sequentially. Looking ahead, in addition to acquiring more and larger customers, one of our priorities for our next leg of growth is to upsell and cross-sell existing customers more of Payoneer's capabilities. We will also continue to build internally and buy companies with innovative products that make our customers' jobs easier, from sending and receiving payments to managing their purchases to working capital. Given the growth opportunities we see across our global business, we are continuing to invest in our R&D efforts and our go-to-market capabilities so we can meet even more of the financial operating needs of our customers. While we continue to invest, we plan to continue to deliver positive adjusted EBITDA going forward. The tailwinds we are seeing from our rising interest rate environment are helping us pull forward our path to sustain profitability. And we remain committed to our long-term target of 20% plus revenue growth and 20% plus adjusted EBITDA margins. Our team is focused, our customers are global, and our platform is strong. Scott and I each bring our complementary skill sets to partner with the rest of the extraordinary Payoneer team, together to serve our global customers. I believe we are just at the beginning of our next leg of growth. With that, I'll turn it over to Scott.