Paymentus (PAY) 47th Annual Raymond James Institutional Investor Conference summary

Business overview and market position

• Provides a cloud-based bill payment platform serving utilities, government, insurance, telecom, healthcare, public sector, B2B, taxes, and consumer finance verticals.

• Utilities account for about 50% of revenue, with the rest spread across multiple sectors.

• Has rapidly grown, quadrupling revenue in five years to $1.2 billion, but still holds only a fraction of the total addressable market.

• Platform enables all payment channels (digital, physical, phone) through a single integration, serving thousands of billing companies.

• Continues to expand into new verticals and sees significant untapped opportunities.

Financial performance and growth drivers

• Achieved 37% gross revenue growth and 46% Adjusted EBITDA growth in 2025.

• Targets a 20% top-line CAGR and 20–30% Adjusted EBITDA dollar growth.

• Growth is driven primarily by new client implementations, followed by expansion within existing customers and digital conversion tailwinds.

• Existing customers present significant wallet share expansion potential, supported by a dedicated Customer Adoption Success Team.

• Guidance philosophy is conservative, with the ability to meet top-end guidance without new client signings.

Technology and competitive landscape

• Platform is described as the "central nervous system" for revenue collection, integrating inbound and outbound payments for both consumers and businesses.

• AI is deeply embedded, used for internal efficiencies and as a value-add for clients.

• Competitive advantages include platform purity, scalability, and a crowdsourced feature set that is difficult for both legacy and newer competitors to replicate.

• Displaces in-house and legacy solutions, increasingly winning large enterprise clients.

• Operating leverage allows for financial accretion even as the client mix shifts toward larger enterprises.