TransUnion (TRU) Baird 2024 Global Consumer, Technology & Services Conference summary

Recent performance and growth drivers

• Achieved 8% overall growth in Q1 2024, with 5% growth excluding mortgage, surpassing guidance by 2%.

• International markets, especially India and Canada, showed strong performance.

• U.S. Consumer Interactive vertical benefited from unpredictable breach services revenue.

• Raised guidance for mortgage segment due to better price realization and utilization.

• Maintains cautious outlook due to ongoing macroeconomic uncertainty.

Market trends and vertical performance

• Insurance vertical, about 25% of emerging verticals, is seeing larger insurers return to marketing and new business acquisition.

• Fraud and marketing products, powered by the OneTru platform, are gaining traction in tech, e-commerce, retail, and public sector.

• U.S. fintech revenue was $140M in 2023, showing signs of recovery, while UK fintech market remains challenged.

• Canadian fintech and banking segments are growing, with a notable win from a Big Five bank.

• No significant incremental weakening observed in core markets; stability is the prevailing trend.

Innovation and product development

• Bookings remain strong, positioning the company for upside when market volumes recover.

• OneTru platform integrates data and technology from multiple acquisitions, streamlining product innovation and regulatory compliance.

• Fraud solutions now consolidated on OneTru, enabling bundled offerings with improved signal and efficiency.

• TruValidate platform, currently in beta, is set for full launch in H2 2024.