Good morning, everyone. It's really wonderful to see people in person. I recognize so many faces and having seen many of you on Zoom. I'm Anthony Gerstein, I'm the Head of Investor Relations for Nuvei, and I'm really pleased to have you all here. What a great turnout for our inaugural Capital Markets Day. A special thanks to all of you for coming and to Nasdaq for hosting us. As a business matter, I'd ask you if you could all turn your phones down to mute or off. We'd really appreciate it. You know, we have a number of our colleagues from Nuvei here. You'll get a chance to meet all of them after the presentations. As well, Phil and all the presenters will be around. Please feel free to come up and introduce yourselves, and we'll find some time to work with you after. Before I turn it over to Phil, just the cautionary statements. Today, we may make certain forward-looking statements within the meaning of the applicable securities laws. Such forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond our control and may cause actual results, performance, or achievements of the business to differ materially from those that are disclosed or implied in such forward-looking statements. Information about these factors that could cause actual results to differ materially are disclosed or implied in such forward-looking statements and can be found in Nuvei's filings with the Canadian Securities Regulatory Authorities and U.S. Securities and Exchange Commission, all of which can be found on SEDAR and on EDGAR and on our company's website. Forward-looking information is based on management's beliefs and assumptions and on information currently available to management. Our discussion today will include non-IFRS measures. Management believes non-IFRS results are useful in order to enhance our understanding of our ongoing performance, but they are not a supplement to and should not be considered in isolation from a substitute for IFRS financial measures. Reconciliation of these measures to IFRS measures is available in our disclosures. Further, we are providing one-time supplementary financial information for the fiscal years 2020 and 2021 with the intent of helping investors better understand the components of the company's revenue and its growth profile. The company does not intend to provide supplementary financial information on an ongoing basis. With that, it's my great pleasure to introduce Phil Fayer, our Chair, CEO. Good morning, everybody. Thanks for coming to our inaugural Capital Markets Day. It's actually amazing to see all of you in person. It's been 18 months. I've seen a lot of you on Zoom, some shorter, some taller, some with more facial hair, Joe, but it's great to welcome all of you guys together. Today we have the pleasure of bringing our entire leadership or a lot of our leadership team, and we're really looking forward to kind of walking through Nuvei's story, where we're growing, how we're growing, and the opportunities that we see ahead. From an agenda perspective, I'll keep it short. You guys have seen way enough of me over the past 18 months. I'll do a short introduction and a deep dive. Yuvi's gonna come up and talk about our technology and our product. Yuvi is our President. Motie will unpack our growth drivers from our existing customers and new customers. Motie is our Chief Commercial Officer, leading our global e-commerce business. Guillaume is gonna talk about our marketing. Guillaume is our Chief Marketing Officer, and he'll talk about how we're gonna be making our brand famous. We're gonna be bringing it over to Scott to unpack the acquisitions that we've done since 2020, including Smart2Pay, and Scott leads M&A and strategy for us. Nikki, who's our Chief People Officer, is gonna talk about our culture and our people organization, and finally, Dave, about our financials. We have a really rich agenda today, guys, so appreciate it if we can keep Q and A to the end. We're happy to stay as long as it's needed and ultimately answer all the questions that you guys have. You guys know me. I'm Phil Fayer. I'm the Founder, Chair, and CEO of Nuvei. Thank you everyone for being here today. Our purpose as a company, and before actually I start with that, here's a little sneak peek on our refreshed brand. Guillaume will give you guys a little bit more. Our purpose is to accelerate our customers' business with tomorrow's payment platform. We talk a lot about how we're doing that, but more importantly to just providing excellent technology and flexible technology. We do that by providing capabilities, human support, industry experience so that our customers can execute in their local markets and global markets within our single integrated platform. Nuvei at a glance. This year, we're approaching a milestone, $1 billion of net revenue, guys. There is a difference, as you guys all know, between gross and net revenue. What's really amazing is we're just getting started, and it's really incredible when you think about the vectors of growth that we still have. From the onset of our digital transformation in 2017 to the visibility that we have in our business, it's giving us confidence in our midterm growth targets. When you look at Nuvei today, we support $95 billion of volume in 2021. And what's interesting about that is 86% came from our e-commerce business. Really a testament to the transformation, the momentum that we're seeing in the company. We provide payment orchestration in over 200 markets around the world. Today, we're offering local acquiring in 46 markets. Today, 530 different forms of alternative payment methods in 150 currencies supported by 1,368 employees. Our employees are focused on making sure our customers are successful, that they are able to execute on their own business strategies locally and globally. That is represented, which we think in our class-leading net revenue retention rate. We're focusing on our strategy. You know, the first element naturally is growing our addressable market, expanding the geographies in which we operate. We are focused on building meaningful technology that drives deep moats with our customers that go well beyond acquiring. We are vertical experts, and we think that's a highly differentiated aspect to our business than many others, is that we focus on very key verticals, and those verticals have longevity, they have tailwinds, and they have the propensity to operate globally. We are customer-focused. Our entire organization, from my office down, is built on making sure our customers are successful. We understand that our success is squarely the success of our customers, and we execute on that. As a culture, we're uniquely human. In our business, we never miss the opportunity to do the right thing for each other, for our customers, and for our shareholders. It's important to note that every one of our employees is a Nuvei shareholder. Some examples I'm super proud of is at the time of our Canadian IPO, if you guys recall, we had opportunities, right? How to drive stock grants, and you guys seen it in many of the companies that you follow. We elected to not do any of that stuff. We elected to let everybody join in the journey of Nuvei. If you guys recall, at the time of the Canadian IPO, every employee got $100,000 in stock options. Every employee is united to our cause to make the world a local marketplace, to accelerate our customers' business, and to help them execute on their plans. I'm so humbled to be working with such an amazing team. You're gonna meet many of them. From diverse backgrounds, different countries, different time zones, these guys are always on. I can't tell you, when I speak to people at 5:00 A.M. or 9:00 P.M. at night, these guys are amazing, and we're fortunate to have them. Lastly, we have a really attractive financial profile. There's massive discipline in how we run our business, how we derive capital allocation, and the flexibility that we have. Let's talk about what we do every day. We solve complex problems our customers face. How do they connect with their customers around the world? What are the things that they need in different markets which may differ from payment acceptance that go well beyond acquiring? How do we take that knowledge and build solutions into our platform that build very deep moats with our customers? Today, and you'll get a chance to, at the Q and A to speak with Max. Yuvi is obviously gonna unpack this in greater detail. Within a single integration to our platform, we allow our customers to operate globally. We go well beyond the acquiring, and we continuously drive more feature functionality in each and every one of these modules expands our TAM. Interesting for you guys to think about, but as we add card issuing or others, and I'll walk through what we launched last year, these are all TAM expansion, all opportunities to expand our wallet and all opportunities to help our customers. Through a single integration to our platform, historically, mobile in-app, and as you guys know, this year, we're gonna be launching omni in certain markets, our customers get to utilize what's right for them. If we do a double click into the initiatives that we pushed out last year, we enhanced customer authentication so that they can manage PSD2. We didn't do it just a linear. We provide it as a plugin, so our customers can use our single authentication, which is best in class, for any acquirer. We launched on-ramp/off-ramp so that we can have a chair at the digital revolution that's happening today, so that our customers can purchase over 129 different coins in a myriad of fiat currencies for both NFTs, digital assets, and soon DeFi. We've expanded local acquiring. If you guys remember, we had about 35 markets at the time of the Canadian IPO. Today, we're in 46 markets. We've launched open banking payments in Europe and in North America. We are constantly adding more alternative payment methods to our mix so that our customers can pay with whatever preference that they wanna support or be paid in every preference they wanna be supporting. We've expanded our global payout business and instant payout business in North America. We're really excited about launching our card issuing and the capabilities that that offers to us this year. We've launched banking-as-a-service. Lastly, we've launched chargeback guarantee for riskless processing. All of these tools are available through our single integration, our one relationship, our one contract. From Nuvei's perspective, beyond acquiring, from connectivity to reconciliation to simplified net settlement, we make commerce possible for our customers. Let's take a closer look. Many of you seen our one-time disclosures. I'm gonna unpack some of them. When you look at our performance, 53% organic growth on volume and 61% organic growth on revenue. How is that, guys? It's because we're focused. We believe in clear and simple drivers. You know, we've spent a lot of time with folks in different verticals, different aspects. For us, we love simplicity. We love keeping it simple, with KISS, so that it creates a clear path for execution. The first element is product innovation. We are a technology company, and we've transformed our offering. We're continuously transforming our offering so that we can help our customers grow. The second one is we wanna be everywhere our customers wanna be. I'm gonna do a double click in some of the markets. These are really big TAMs that we're adding to it. For those of you that have been following this story for a while, you know our global e-commerce business was born in Europe, just starting now to execute in North America, and we're at the early innings of LATAM, and there is so much more for us to do. Finally, these two combined is also growing with our customers. Our customers are having their own natural tailwinds that with our technology, we're expanding our wallet share with them. Lastly, we're scaling. We're adding new customers. Motie today will talk a lot about how we're accelerating our new client wins, what we have seen, and where we're going with that. Let's talk a little bit about revenue by region. We had a 93% growth year-over-year from 2020 into 2021. Breaking that down, LATAM obviously smaller, APAC smaller for us. Enormous opportunity for us to continue building our business capabilities out in those two regions. EMEA grew 123% and North America 64%. Let's double-click into our global e-commerce business, which in itself is class-leading at a 130% growth. You guys can understand what we're doing. The first element is our playbook. Motie is gonna talk to you about how we jointly focused on commercializing our excellent technology stack in Europe, and you can see the progress that we've made. Now you get to look at North America. We're just scratching the surface in North America. We went from $19 million of revenue to $67 million, and our toolkit, the investments that we've done in product in North America, we think is second to none. Adam, when you look at all the regions that we're operating, and you look at the opportunities for our global e-commerce business, there is a lot of white space. The reason why we bring this up is because folks have to appreciate how big the opportunity can be for Nuvei. We think naturally we still have a lot of runway to go. Let's talk about our different channels. We support three channels in the business. Our core channel is our global e-commerce business, and this was part of our transformation that we started the journey in 2017. What's amazing here is that it is class leading, right, 130% growth. More importantly, it's also our largest channel today, and normally, you don't have your largest as your fastest-growing. The underpinning here is so incredible because our e-commerce merchants themselves grow faster than the rest. What this should leave you is that there's a foundation for continued growth within our portfolio, within our core channel. Naturally, there's opportunities in all of our channels, but today we're talking about global e-commerce and how much more there is for us to execute on. Then we come back to our own customers, and this screams the loudest for me. Our customers are choosing us to grow their business. Our customers are relying on Nuvei's technology, our people, and our capabilities to continue growing. So much so that 80% of our growth comes from our customers. It's amazing from a total business perspective, but it's impressive when you look at our global e-commerce business. From a total business, you know, we grew 146% from a net revenue retention rate. That is 179% on our digital e-commerce business. That is for a couple of reasons. First of all, the adoption of our technology, right? As we add more modules, it allows us to continue expanding our capabilities and wallet share with the customers. The same is true as we add more geographies as customers look to go north of the border, south of the border, into Asia, into new markets, and as we make investments in those new markets. Probably the foundation to all of that is service. Do right by your customer. Now, I'll tell you guys, like many of you saw the Wix announcement, but Wix was subject to the unfortunate events in Ukraine, where their risk team was paralyzed. Nuvei stepped in, and we're doing their risk services for them. These are the things that you can expect from Nuvei of how we help our customers and our partners execute on their plan, regardless ultimately of how, let alone the macro issues today, but how we can do that. That equals wallet share, goodwill. People have choices, and it's the same in your own life today. You work with people you like to work with, you work with people that share your values and can help you execute, and Nuvei is top of mind for that for us. Something that's fascinating for you guys to appreciate is that we are a technology-first company. When you look at our revenue growth, certainly 73% growth in acquiring, 138% in module capabilities. Now there's a few things I'd love to unpack here. The first one is the more modules that we continuously bring to market gives us enormous pricing flexibility. And what I mean by that is the acquirer has to manage margin on acquiring. You know, the open banking has to manage open banking. The risk company like Riskified or Signifyd or others have to manage the risk and so on and so forth. So each module ultimately are different companies providing monoline services. In Nuvei's case, we can come in with everything that's needed and price accordingly. We have real flexibility, and we are just getting started, which means that from a technology perspective, we have ultimate flexibility of providing single price for acquiring or pricing by module to help our customers grow with us. That's really, really important. Naturally, as these modules come into place, a merchant would need sometimes seven or eight technical integrations per country, right, if you end up thinking about it or per region. We unburden the technical stack so that they can continue focusing on what is really important to their business. Something that I find very interesting, and I've heard this many times from folks, is tell me about risk. What is, what is your exposure of risk in the business? What, what is high risk, what is low risk, and what is your understanding of that? Out of the $95 billion that we processed, Nuvei's losses were about $3 million. This is fascinating because it's a fraction of a basis point. It is already market leading, where from our visibility market, it's between 1-2 basis points. Let's take that further. Small business naturally always has a higher inherent risk just because of small business failure. Our global e-commerce business is 15%, less than $500,000, which is really the testament of the quality of the business, the quality of the merchant, and the opportunity that lies ahead. Something that's even more interesting, because we always hear questions about gaming. Gaming is our lowest chargeback business, and gaming is our lowest loss business out of every vertical that we operate in. For you guys to appreciate why, out of all our losses, $32,000 were from gaming, because gaming is a highly regulated market. KYC for onboarding, and most of these institutions in gaming are well-funded global enterprises. Coming back to the investment that Motie is gonna talk about, I'm really excited because this is what we've been talking about, right? If you guys, those of you that joined us for the Canadian roadshow, we talked about having excellent technology and building out our distribution. We look at total revenue. We'll get to e-com in a second. The new cohort, business that our sales channel onboarded in 2020, generated $42 million. That cohort grew to $193 million in 2021. Why is that? Well, because when you onboard in year, you never get a full year, and sometimes the contract is signed, and they process later. Here's a really important takeaway for you guys, is investments made in sales in year one monetize two, three years down the road. When you look at that, it's not because you sign a customer, they go live right away. It still has opportunity to grow with that customer from a module perspective, meaning that they onboard for product A, and it gives you opportunity to grow with them in different elements. I'll talk a little bit about that when I get to verticals. Double-clicking into that and looking at our global e-commerce business, and Moti e is here, so I can't give him too much credit, but you look at the job that Motie and his team have done, it's unbelievable. We went from $27 million, and that has grown to $152 million from that same cohort. In 2021, it's $58 million. We have doubled the sales performance, and you're gonna hear about how we're continuously building out our global distribution. We're just getting started here. You guys are gonna appreciate from Motie how many RFPs we're participating in and how deep our pipeline is. That gives us confidence that this momentum will continue. From a vertical perspective, the big takeaways here is we're really diversified, both from a merchant perspective and a vertical perspective. We think all of our core verticals have enormous opportunity for us to continue executing it. We are making the same investments across all of our verticals 'cause we in our global e-commerce business, we hire folks that are vertically focused, geographically located close to our customers so that they're in time zone and in language. The momentum is really, really compelling. In our core verticals, we've been engaging and signing the who's who, and that's fascinating. What's also really interesting is we have the flexibility to engage with them on what is appropriate for their business model at the time of onboarding. If you look at DraftKings, they didn't come to us because they needed acquiring. They came to us because they needed payouts, they needed RTP, and now they need acquiring. That's the element that changes when you engage with a customer saying, "What is important to you today? How do I help you transform your business?" We talk about online gaming in the U.S. because many of you guys have been asking for that. We're a run rate of about $15 million of revenue right now, but we're just getting started. This has been for a few months in the market. When you look at Nuvei, the opportunity, well, out of the top 10 providers, we've signed 5. Pretty impressive. We've only been at it for a while. Motie's team has done an amazing job, and he'll talk about that. When you look at geographies, it's not only did we build capability for gaming in the United States, we're also gonna power gaming next week in Canada. These verticals are globally. The same is true when you look at digital assets of how we're engaged with the top ten exchanges or even the game operators of how we're looking at some of the publishing platforms. Our pipeline is deep, and we're making focus across the board. One thing to keep in mind on vertical is that we grow. As we make investments, our customers are always gonna be growing with us if we execute on our strategy. Innately, larger verticals will continue being an important part of our business as we continue growing. Lastly, I want to talk about technology on a very simple term, is our ability to scale. What we have done over the past years from a development, from a platform enhancements, from an ability to create API gateways so that we are quickly able to integrate acquisitions that we've made to being able to deliver the capabilities that our customers are looking for. You will hear this from our folks, but our merchants demand no latency, right? These transactions can't take five seconds. Our merchants demand high approval ratios. Our merchants demand clear authentication tools. If we don't deliver, our merchants will go look for somewhere else that does. That's really important is that we earn our keep every single day, and our technology is pacing. When we end up looking at credit and debit transactions, and specifically credit, something to keep in mind is today in Europe, credit is at least two transactions. Does that make sense? Okay. Because you're starting with an authentication, and then you're running back to an actual transaction. The ability of our technology to amass from a latency perspective, from a capability perspective, and from a unique transaction count perspective is amazing. You guys have heard us talk about it. We're always staying ahead of the curve to make sure that we have capability to support 10 times more volume, that we could support things like the Super Bowl or March Madness or Cyber Monday or other things that come back to it. We are always staying ahead of the curve. You know, two weeks ago, I was in Tel Aviv, and I had dinner with Max and just talked about our team. Max gets up saying, "Hey, it's not calling me." We're watching trends of certain merchants that we're doing well in excess of their normal trends, and we're working on making sure that we have the capacity to support the marketing issue that they have. That is what our technology does. That is what our people do to help support our customers and deliver on their growth. With that, I want to highlight our really clear and simple and concise growth strategies, which we're executing on. I'm gonna pass it over to Yuval, who's gonna highlight our product innovation, why our technology is so relevant, and the roadmap that we have within. Motie is gonna break down how we're growing with our existing customers and how he's accelerating new client wins. Scott's gonna unpack some of the acquisitions that we've done, both the rationale, the purchase price, and what they are doing for us. Something that is unique for in Nuvei's case is, guys, we can be technology first, and we can do M&A. We can be high growth and we can integrate M&A. Not only that is we can buy transact companies that have capabilities and monetize them with our base. I know it's always hard to understand, right? Technology companies don't do M&A, but in our case, we've proven that we can. That is the flexibility of our microservices, that we're able to integrate these capabilities and monetize them. With that, I'm gonna transfer over to Yuvi. Thank you very much, guys. Yuvi. Thank you, Phil, and thank you everyone for coming. I am excited to be here today and to tell you more about our technology, product and value offering, value proposition in the market. In fact, yesterday, Phil reminded me that the first time that we met was in a similar setup where I presented the product and go to market into the Nuvei Group. For those of you, I've met already, and for those of you that are not familiar with me, my name is Yuval. As you can hear, Israeli, born and raised, but living in Bulgaria for the last 16 years with my family. I started my journey into payments 15 years ago as part of the SafeCharge Group, where I held multiple different positions. I've been in operation, in risk, compliance, regulation, global expansion, sales, marketing and relationship. Post-acquisition, as a managing director of digital payments, I expanded and penetrated into the digital market, and lately appointed as President. As President, I am responsible for all the client engagement, product marketing, data and analytics. Today, I will expand on our product and technology, and I do realize that for many of you, it will be the first time that you hear a lot of technical information. For that, I will not test you today, but I am here, on a serious note, I am here to answer questions later on, and I'm sure that you will have more. Buckle up, and let's start the journey. Our global e-commerce clients are targeting online and facing multiple different challenges. To be successful in that environment, they are required to handle multiple different payment methods, multiple different challenges, such as risk management, reconciliation, currencies handling, and many more. For that, they need a robust payment platform that will support them not only in their existing needs today, but mainly in the growth and development moving forward. They need to handle the risk, they need somehow to mitigate the fraud, they need to make sure that their performance is optimized, giving them an edge in the industry, and all of that to happen seamlessly and easily so that they can continue to contribute and to develop their own business. We deliver exactly that with one single API and access to the entire platform, a modular platform, proprietary, in-house developed that offers them all of that. Today, I will double-click on eight different pillars that will show you why we are different and why is it so important to our clients and therefore choosing Nuvei. To be successful in the e-commerce world, clients operating globally address multiple different challenges. From payment acceptance perspective, different location means different preferences of users. All the different challenges are very much adapted to the same message and to the same need. They want to sell more, they want to achieve higher acceptance rates, they want to make sure that they mitigate the risk, and that they expand easily. They want to have a partner with a robust platform behind them that will always secure them no matter what. We are exactly that. Global acceptance in global e-commerce means multiple geographies. Multiple geographies also mean multiple and different preferences of the users to accept payments. In the Netherlands, a client typically will use iDEAL. 80% of the traffic will actually be iDEAL. That is a payment system based on the banking environment. In Brazil, a client will typically prefer Pix or Boleto. Some of those payment methods are completely based on offline parameters. In the U.S., ACH, RTP, cards, but even cards are complicated because not all the cards are alike. In France, although using mainly cards, they will use Cartes Bancaires, and not necessarily the Visa and the Mastercard. Adding to that, handling a lot of currencies, different settlement time by different payment methods, pay-ins versus payouts, chargebacks, refunds, disputes, all of that needs to be reconciled, needs to be managed in one place. It is complex, as Phil mentioned, and for the complexity, typically a client will need hundreds of different integrations, relationship contracts in order to handle just that. With one single API, with one relationship, as you will hear from Motie later on, we serve all of those needs for them. Not only that we are serving all of that at once, but the company and the platform keeps on evolving. In fact, only in the last quarter, we've added 25 different alternative payment options. The significant importance of adding payment methods, I even heard yesterday in a conversation where I was asked what do I think the difference between or why users are still using PayPal, Apple Pay, and what is the difference between them. That is exactly the point. Each user has completely different preference. If a user now prefers to pay with his own preferred known payment method, if our client will not be able to offer this specific payment method, the transaction is lost. With more than 500 different payment team members in our technical team, we continue to evolve, we continue to deploy, we continue to add value to our clients. In the global payment and payout capabilities, to excel globally, it requires the correct capabilities. It sounds relatively easy, cards, APMs, that's all. But there is a lot of complexity there. In cards, it can be Visa and Mastercard, but it can be also PROSA in Mexico, Bancontact in Belgium, and many other domestic local schemes. In alternative payment methods, as I already said, each payment method has its own capability integration-wise, its own capability in terms of management of the funds, settlement, currencies, all of that is super important. It's also important in terms of business model. Netflix or any other video streaming will need recurring billing. Games merchants might need micro transaction to be handled. Financial institution might need a large ATV. Each one of those business models also dictates the need of the pay-ins and the payouts. Not many companies out there have today the capabilities to serve global clients in payments. In fact, only a handful of companies can deliver the exact same service that we can. Not only that we've caught up with the peers, but actually, as you can see here, we are leading this list. From local acquiring perspective, as Phil mentioned earlier, we are serving today as principal member directly connected to the card scheme, 46 markets and keeps on expanding. That creates a significant advantage in terms of acceptance rates locally. However, if you look at it, you can understand that the true advantage is the fact that we've detached the acquiring from the technology. We are connected as a part of our platform to more than 200 different acquirers. Among them, also the ones that are here in this table. That enables us to offer an orchestration layer that can route each one of the payments into the most appropriate acquirer. It can route to one of those peers or any other, which is a unique advantage no one else has through acquirers in their platform. As you've already heard, cards is not enough. Alternative payment methods are required to achieve better performance, higher acceptance rates. We are offering more alternative payment options than any one of the competition. In one single API, our clients have access to all of those payment capabilities. We are the only company out there that is offering fully global on-ramp, off-ramp solution. That includes not only the payment, it includes the liquidity, the risk management, the delivery of the coins, and obviously acquiring processing capabilities. Our own open banking capability enable us to accept payments faster, to pay faster. It also enable our clients to do exactly the same. We've announced the partnership with FTX, utilizing our open banking network, SEPA Instant open banking across Europe, enable them not only to accept payments to pay faster in the same instant capability, but also to verify the user before they deliver any coins. Before we continue, let's hear also what our partners have to say about us. Nuvei stand out a forward-thinking agile payment provider. They. Were one of the first to integrate with Alipay+. Helping us some of the world's retailer and the largest gaming companies. Our collaboration with Nuvei is a fantastic demonstration of the value of partnership in the payment ecosystem. Partnership between Mastercard and Nuvei spans a decade, and we have witnessed their impressive growth firsthand. Their innovative spirit has made them early adopters of some of our own new technology, such as Mastercard MoneySend and our various chargeback and fraud solutions. That's exactly how we see Nuvei, a partner who works with us to push the boundaries of what is possible in payments. We at Mastercard are looking forward to continuing our partnership with Nuvei, bringing the future of payments to merchants today. We started working with Nuvei five years ago. They were the first to integrate WeChat Pay into their mobile POS app, allowing Chinese travelers to pay with WeChat Pay. We found that Nuvei shares the same dedication as WeChat Pay to understanding customers' needs and solving them with the most innovative technology. As you've heard, not only that we are implementing additional capabilities, but we are also early adopter, always keen to innovate and providing our clients an edge in the industry. Providing an edge also means to be much beyond payments. We are listening to our clients, partnering together with them, and identifying those specific capabilities that will enable them to accept more and to pay, and to get paid faster. Accepting more payments can be also looked at from three main pillars. Authorization, how to reduce the declines in the industry. Authentication, how to comply with the industry needs compliance standards. Risk management, how to mitigate the fraud, reduce the chargebacks, and handle all of this data. I will start by double-clicking on the authorization. In order to increase authorization, the correct technical blend, but also the user experience is needed. It's not enough just to integrate capabilities, you need to combine it into the platform, into the user experience to make it easy for the user to use. We've developed smart routing capabilities, cascading, partial approval, and decline recovery functionalities that all serve the increased acceptance rates, enabling our clients to accept more payments while they're working with us. Let me take you through a transaction flow to make it clearer. In the traditional acquirers, and many acquirers are still offering exactly the same, a transaction might be declined, might be approved. Not a lot of information will be provided for the reason, and mainly if declined, transaction is simply lost. All the efforts that were invested by the clients to bring the user to the end of the funnel will be lost. Nuvei see it differently. In Nuvei, it all starts with our orchestration layer that detects in real time, while the transaction is happening, what is the best acquirer to accept and to approve this specific transaction. It can be by multiple parameters. It can be by cost reduction, it can be by acceptance rates, data and analytics, it can be by a client request. We will divert and route the traffic, the transaction into this specific acquirer. But if the transaction will be failed, if the acquirer is suffering from malfunction in real time. If the transaction will be declined due to non-sufficient funds, we will automatically and seamlessly identify it and start to cascade to the next appropriate acquirer. That all happen automatically without the user even noticing, and we can do it in multiple times. If the transaction will still be declined, we can engage with the user on behalf of our clients in offering partial approval capability. Partial approval identify what is the maximum amount that can be approved for this specific transaction and enable the user to choose if he wants to choose different product and still be successful in the transaction. We are helping this way to our clients to convert more sales. If the transaction is still declined, though, and that might happen, we will engage with the users and with our decline recovery capabilities. We will enable the user to choose alternative payment option and to complete the transaction. As you can see, alternative payment option is more than just preference of choice for the first transaction. It can actually serve as converting more sales later on. On the authentication level, the PSD2 and the strong customer authentication was introduced in Europe during 2020. That required a user to enroll into the program, an issuer to participate in the plan, and also the user experience and the device to support the authentication layers. However, as you might have known, the enrollment of the program, of the authentication and the requirement to enroll was gradual. It took years. In fact, as we speak today, U.K. is still rolling out the strong customer authentication. That created a lot of confusion, a lot of declines in the industry, that unless the client were using our services, they could have suffered from loss of revenues. We've done an implementation. We've rolled out a strong customer authentication, truly secure routing engine that is identifying in each given moment what is the device, what is the user enrollment status, and what is the correct authentication layer, diverted the traffic there, saved all of the declines, and if the transaction was still not approved, we could cascade to the next authentication layer to enable higher acceptance rates. On the KYC front, each and many verticals out there require KYC. Marketplaces need to KYC to know who they are dealing with in terms of their sellers before they onboard them to the platform or before they pay into the bank account. Insurance companies need to verify and the identity of the policyholder or the provider, gaming client before they pay the winnings or withdrawals, and even digital assets client. Before the delivery of the coin, it's a mandatory solution for them to perform a KYC. However, KYC traditionally takes time. It's manual, a lot of efforts, but mainly with many false positives. False positives mean decline in the transaction, reduced revenues. We came up with the eKYC services that is fully embedded within our platform, enabling our clients to KYC deals faster and, most importantly, more efficiently. That allowed our clients to rely on our solution if they want to verify documents or verification of the identity for users and businesses alike, for KYC and for KYB. Any client out there utilizing today some sort of risk management, or at least have to protect their business. Many are actually looking at third parties in order to do so. The fact that our own risk management is fully embedded with our own world platform, not only that reduce the latency, but also improving efficiency. We've developed over the years rule engine with more than 200 different parameters that is also receiving the data immediately from the card schemes. Those parameters are fully configurable by the client or by us, and screen and detect fraud on every type of transaction, no matter if it's alternative payment methods or cards. That is a significant advantage that we have in the market. Not many companies out there knows to detect and screen alternative payment methods fraud. Out of the rule engine, three main outcomes: either 100% legitimate will be sent to the acquirer, or 100% fraudulent will be blocked and instantly, automatically will be added into a negative database that will make sure that this fraud cannot happen in the future, or flagged for manual review, for additional review by our experts around the world. We do believe that the fact that it is fully embedded within our platform increase the efficiency of the overall cost and of the overall performance. However, although superior in the market, we do believe that chargebacks can still happen. As such, we've added multiple layer of protection that can reduce up to 40% of the chargebacks. We've added early warning services directly alerting the clients from the card schemes ahead of the chargeback that a dispute is happening, allowing them the time to engage with theirs and to solve the dispute. We've added an API that enable automatic credits in such dispute cases and reducing the chargebacks counts. We've also enabled our clients to upload documents to represent a chargeback from our back office. Lastly, as part of our Simplex acquisition, as mentioned earlier, we've also rolled out transaction scoring and chargeback guarantee. There are many companies out there, Forter, Riskified, that are offering those services, but they are offering it as a standalone, disconnected from the flow of the transaction. When we are adding it into our platform, not only that we reduce the latency, we are also reducing a failure point, increasing the efficiency. When combined with all the rest of the services, the 3D Secure, the KYC, the optimization, we are allowing our clients to use it more efficiently and with lower cost. Our innovation is driven by our own roadmap, by our employees, as you will hear from Nikki, but also by our clients. We strongly believe that by listening to our clients need, delivering the optimization flow, customizing for them, if we look at it holistically, we productize it, and each one of those customization is later on available in our platform to scale to all the rest of the clients. Let's start by listening to our client, Fortuna, and what he has to say about our customization capabilities. Payments is not just a service, it's key part of our customer experience. Fortuna Entertainment Group is the largest sports betting and gaming company in Central Europe. We cooperate with Nuvei very closely, utilizing their dedicated team, which is providing UX improvements and also delivering new payment methods. Last year, we have successfully delivered Apple Pay for our customers and scan card functionality. These additions have helped us to reach our goal of being product leader in all markets we operate. Nuvei's 24/7 payment traffic monitoring and technical support is key for achieving that. Customization is usually driven by country or by regulation. In this case, specifically, I will drill down to the case of Fortuna. When they asked us our help to penetrate to the Czech Republic, they mainly pointed out two main problems or challenges. The first one is that a user in the Czech Republic is utilizing multiple different APMs and multiple bank transfers or banks for the bank transfers. The second challenge, however, was utilizing capabilities of how to verify the identity of the user, because by regulation in Czech Republic, each user needs to be verified by their bank account, even if the transaction is being done by cards or alternative to the cards. Not only that we've implemented the APIs of the open banking in order to verify each one of those transactions across the entire Czech Republic, but also that we've embedded customization layer that enable the user for a one-click deposit once we identify the user, identify his preferred payment option, tokenize it, memorize it, and presented it properly in the cashier. We've implemented it. Not only that it was successful, we've grown and increased our wallet share with Fortuna above and beyond the Czech Republic into Poland, Croatia, Slovakia, and more are coming. Motie will explain to you more about how we land and expand with our clients. Not only that Fortuna chose us for more countries and more capabilities. Actually, as I mentioned earlier, as we look at each of those productization holistically, embedding it within our platform, we've offered it to all of our clients, and this is only just example of clients that are utilizing those customizations today, Valve, FTX, airBaltic, and many more. Lastly, on this specific example, as you've heard from Jan from Fortuna, we've also enabled scan card capability. When you look at it from a user angle, the user experience of Apple Pay, Google Pay is seamless. It's easy to transact. In some of the locations or by regulation requirements, no Apple Pay or Google Pay availability. Therefore, when we scan the card, we enable each one of the users to have to enjoy from the same user experience, seamless transaction, and also supporting repeating of those transaction for the future usage. All of it seamlessly enabling basically every issuer out there for the same user experience as it will be in an Apple Pay or a Google Pay, including supporting those specific methods of Apple Pay and Google Pay in our platform. Creating all of those integrations, alternative payment options, cards, customization, all of it is important, it's crucial, but our clients also looking for a robust platform that will be able to scale with them and will always be on, always will be available for them. We constantly invest in our platform. Not only that we are capable to scale together with our clients for their growth and additional geographies location, but also and mainly supporting them in specific events where traffic might scale to 100x of their usual ones. Events such as the Super Bowl, Singles' Day, Cyber Monday, many more, where we actually see that our clients, when they use multiple providers, are shifting ahead of the event, the traffic to Nuvei. That is not only contributing to the transaction, but also and mainly showing their trust in our platform. With our data centers in active mode, we can always trust, and we can always support those events, even if there are peaks in the event specifically. We are also investing in segregated platform. That it means that every one of our enterprise clients will be able to enjoy from a separate platform without interaction between. All of those platforms are obviously wrapped with the security layers in the best of the industry, second to none. Scale also means handling acquisitions. We've came up with the API gateway that enabling each one of those companies to connect to and from our platform without any disruption to the client on the day-to-day traffic. Payment management these days completely changed. In the past, clients used to choose one provider to handle most of their needs. Actually, as the client evolved, as the market evolved, they understand that they have different pain points that they want to solve. They have different solution from different providers. They know what they want, and they want to choose. Our capabilities as part of our modular platform enable them exactly that. A client can start by adding only gateway, can transact as a gateway only. A client can choose local acquiring and in a specific location or global. A client can also start with APMs or with added value services or obviously, as a turnkey solution. bet365, as an example, started with us as a gateway only, but even as a redundancy to the gateway, increased the traffic as he was pleased with the services and as we've engaged with them. Now we are not only the primary gateway, but also supporting them for Apple Pay, Google Pay acquiring, and soon Canada expansion as well. BetMGM and FanDuel started with European acquiring, added U.S. acquiring, and as we speak, we'll start adding also Canadian acquiring, but also added 3D Secure risk management alternative payment option to a full-blown solution. Gett, that you will hear more in Motie's his presentation, started with added value services with reconciliation only. Today, we serve them for a full turnkey solution cashier gateway implementation that includes also the acquiring and all sorts of APMs. We believe that the ultimate choice is actually given and provided by our orchestration layer. A client, as I mentioned, might have already a predefined setup, a gateway, and all they are looking for is an additional acquirer or is an additional alternative payment option. That is available. They can integrate the same API and choose the current availability or need that they have. The majority of our clients are actually served by our orchestration layer, where we are connecting them to additional gateways, to acquirers, to alternative payment options, and allowing them the time and also the opportunity to choose which of the capability they want to start using and with which they want to expand later on. As you bring all of those capabilities together, at the end of the day, we are looking at millions of transactions, of movement. We are looking at different currencies. It's pay-ins versus payouts. Payouts to the users or payouts to their sellers if they are on marketplace. We are looking at refunds, at chargebacks, different settlement timing, and all of that require a robust reporting capability. Our capability is available in API, mobile, in web, but the most important is that it's more transparent than any other, showing data per transaction or per aggregated. It's granular, it's more actionable, enabling our clients to take actions with the reports, and it's all real-time, providing insight on the data and on the industry to improve performance. As Phil mentioned, we are human. We have the human touch that is an added value to all of our services. We listen to our clients. Our clients these days does not want automated service. They don't want off-the-shelf product. They want people that understand their business. You will hear also from Motie about the type of people that we have. All of them are experts, not only in the industry, but in their own main verticals. They want someone that will customize for them, someone that will be attentive to their needs. This is Nuvei, from CEO to all of our team. Doesn't matter if it's technical issue, if it's onboarding, if it's product. We are all listening to our clients, implementing their roadmap into ours, and delivering the satisfaction to the clients. When we compare our capabilities across the peers of the industry, you can see clearly now, after understanding a little bit better about our customizations, capabilities, why we are different and why we are better. Not only that we have and our clients can enjoy a more robust platform, this is a platform that can be integrated with one single API and one connection. Not only that we support more capabilities in payment methods for pay-ins and for payouts, enabling our clients to accept more payments in every given moment, but that we also enable them to perform optimization to the flow. We allow them to mitigate the risk, to customize the user experience, but also to scale with us geographically or in specific counts of transactions. The choice that we are providing, and mainly the orchestration layer, is second to none versus the peers. No one has the capabilities that we have today to identify in real time what is the best appropriate acquirer and to route the traffic there. Reporting, as I mentioned, more granular, more actionable, more transparent, and we are here to listen to our clients. We do also know that that is not enough. We continue to evolve, as I said, and let me take you through some of the big rocks that we are covering in our roadmap in 2022. In gaming, you've heard a lot about it already, and you know that we are a leader in the industry. In Europe, not only that we have all the different integrations, the expertise, and the case studies, but we've also expanded with our existing clients and with new ones into the U.S. recently. That was a very successful launch of pay-ins, payouts, all the different capabilities. If it's open banking, cards, alternative, cashier. We are also starting within days, as Ontario is being regulated, to offer our services in Canada. We already have MGM, 888, theScore, DraftKings, FanDuel, all of them are working with us in Canada. Obviously, we will open up in LATAM as more countries are being regulated for gaming. Issuing, not many companies out there can offer acquiring and issuing together in the same platform. We are one of them. We will scale our offering in issuing as we see a tremendous opportunity, not only reducing cost, like interchange, but also and maybe mainly, increasing the loyalty of the users by faster payout capabilities and by loyalty program that we can create. On marketplaces, for example, we already have significant successful case studies in Europe with YOOX NET-A-PORTER, ePRICE, and more. What we want to do now in this 2022 is enhance our offerings to be able to onboard sellers and marketplaces globally. We will start targeting international with our capabilities of marketplaces. That includes the onboarding, the KYC, the pay-ins, split payments, pay-in and payout, and obviously the marketplaces KYC needs. I believe that today you already have better understanding of why we are different, why we are winning, and why our clients choose Nuvei. With that, I want to hand over to our Chief Commercial Officer, Motie, that will expand more about our case studies, the success stories, and how we expand in the market. Thank you. Hi, everyone. I'm super excited to be here and unpack our growth. I can assure you I do not have 54 slides to go through. I'm Motie Bring. I'm the Chief Commercial Officer. Continuing the tour around the globe, I'm based out of our growing London office. A little bit about myself. I started my career in payments 20 years ago. I spent the last decade working on a payment processing side. Prior to Nuvei, I worked for Worldpay. I was there for eight years holding multiple leadership roles in the global e-commerce business. My last role saw me leading the EMEA region as well as the global gaming commercial teams. In my role there, I was heading the sales, relationship management, implementation, operation support of existing and new business. I joined Nuvei in September 2020. I'm asked often why I chose to leave a well-known U.K. brand and join an early-stage payments company. It's a good question. I was very familiar with the Nuvei team. I knew them as a partner as well as a competitor. I was always super impressed by the technology of the company. To my relief at the time, I was also very happy to know that they did not have a strong direct sales team or marketing engine. That made my life a lot easier as a competitor at the time. When I met Phil and Yuval to discuss their plans for our global business, the e-commerce global business, I found it to be super exciting. I thought that when I looked into the technology and the capabilities, if we can build a super strong direct sales teams focused on relationship management and implementation, we have the ability to build something absolutely fantastic here. Someone asked me last night if there was anything I was worried about before joining Nuvei. There wasn't, because I was genuinely excited when I looked at the technology and what we can build, having done it before for a different company. I just believed that we can build something incredible. We started the journey, but we are only just starting the journey, and I'll go through those steps with you. Phil touched on this before. I'm going to laser focus now on the two areas in the environment. How we grow with existing customers and how we acquire new customers. Over the past year, we had a phenomenal journey. We added many exciting new brands on multiple verticals and geographies, but we also expanded our share of wallet with existing customers, really executing on the land and expand strategy that we have. That strategy has been super helpful for us because it means that we can simplify the sales process and really focus on the human touch when it comes to working with the customers, new customers as well as existing ones. I'm first going to talk about our existing customers. Some of the numbers you've seen before, so I'm less focusing on that and actually focus more on the pillars. 80% of our growth is coming from existing customers and partners. How did we do that? We've done it by when you look at the cohort of existing customers that were with us prior to 2020 in the direct e-commerce business, we more than doubled that business from $211 million to $428 million in 2021. As Phil mentioned before, the customers who went live in 2020 were huge contributors in how fast they grew. They grew from $27 million in 2020 to $152 million in 2021. That had a lot to do with the ramp-up. Customers went live late in the year. The cross-sell and up-sell opportunities, so focusing on the land, we landed them using one product or two, and we expanded the services into other areas, more products, et cetera. When I look into the kinda core three pillars, if you want, of how we grow, you would have heard a lot about the top two, you know, the technology and the geography, and they're key for us. When you look into the technology, as Yuval ran through a lot of the products and capabilities, we do have a fantastic offering to our customers. We have the ability through our proposition to help customers reduce frictions, which means they can get more transactions through, and that results in us getting a bigger market share. We see that with many products. We've just seen that recently with the launch of Pix in Brazil, for example, where we outperform our competitors by double digits in terms of acceptance rate. Now we have a pipeline of customers who we go live with because they can see the benefit of moving over to utilizing our services. The one API integration, which was mentioned a few times, is also key in the land and expand. Because once a customer is connected to us, we have the ability to help them introduce more products, more capabilities with very little or almost no effort on their side from technology point of view, which is key in trying to prioritize what we want to do with our customers. The ability to develop and innovate on products is very important. You heard our partner from Alipay talking about us being one of the first to go live with Alipay+. Our customers know that they can rely on us to have the edge over the competition when it comes to launching new products and capabilities. When we look into geographies, again, and that was discussed before, adding capabilities in geography is important. It's important to our customers as they look into expand, and it's important for us to know that they will see us as a partner of choice when they look to expand into new markets. It's important for them to know that if they're in the market and they have challenges, we are the partner they can come to and help them in converting more customers and so on. All these these two pillars required us to really focus on the people. We have all these fantastic capabilities, but we were not very good at knowing how to articulate it to our customers. At the start of last year, we focused on restructuring the engagement model with our customers. We have moved to create kind of split the commercial relationship management from the operational one and adding the implementation layer. Really, instead of having a one-point contact for our customer, we have three different teams working with those customers. By doing that, we almost doubled the number of people in the company, of colleagues working with our customers. That enabled us to have a much closer relationship with our customers, understanding their needs better, listening to them, but also having the ability to articulate what we can do for them by having a much more hands-on approach and management of those relationships. We're gonna now hear what customers have to say about us. lastminute.com is the European Travel-Tech leader in holiday packages and operates in 17 different languages in 40 countries. The pandemic brought a huge crisis, and finding a partner that enabled us to optimize our payment strategy was key. Nuvei and lastminute.com were able to work together to reduce the friction to our customer. They helped us balance strong customer authentication with security and conversions. Increasing acceptance rates means that more revenue is retained into our business. The corporate ground transportation market is worth $100 billion globally, and Gett is the market leader. We were looking for a global partner that can offer products and services beyond the typical PSPs and gateways. Nuvei stood out as a new generation payment provider. They also have optimization tools, which allow us to make data-driven decisions. Together with their teams, we're able to identify problems and resolve them, and now the acceptance rates with Nuvei in Europe has now risen above 97%. As the first and largest Italian e-commerce marketplace, we sell millions of products online every year. From the outset, Nuvei understood immediately the complexity of the business model. They were able to manage both pay-ins and payouts for our marketplace and made it faster and more secure. Nuvei's marketplace solution ensures we and our sellers benefit from a seamless onboarding process, reliable and secure transaction processing, easy reconciliation, KYC procedures, and prompt settlements. As you can hear from our customers, it's this ability to engage with them on multiple levels mean that we can really focus on the optimization piece, on the functionality, on the acceptance, and really work with them on the different capabilities that we have. Most importantly, understand their needs first and then tailor the solutions that we have to make sure that we capture their needs. And if we don't have it, we will go and develop it for them. We didn't just grow with existing customers. We're seeing huge momentum in new business activities. We have more than doubled the new business from 2020 to 2021, ranging from $27 million in 2020 to $58 million last year. We really did it by focusing again on three pillars here. The first one is expanding our sales footprint. The second is articulating to the market a value proposition, and the third one is enhancing the onboarding experience of our customers. For me, it was easy. We had the smarter guys working on the technology behind the scenes, building the products, and we just needed to find a better way of going out to the market and do it. The first point about the sales footprint, it's staggering to me that when I joined, we had 10 people working in direct sales. It's just such a small team of people creating something amazing. By the end of 2021, we had over 100 people, and this team is growing. That's fantastic because it means that we have more ambassadors going out there, knocking doors and bringing in the business. Who are these people that we're bringing in? Because this is really, really important to understand. We're recruiting talent from sales leaders, sales managers, SDRs, from different areas. We have huge success in bringing in some fantastic talent from competition like Adyen, Checkout, Worldpay. We also bring sales people from the customer side, people who understand the customer needs and talk to them in a language they can understand in all the different verticals that we service. We have people come from different platforms as well, again, helping us in building and articulating our value proposition to customers. To bring so many people together in a short period of time required us to build the infrastructure to support it properly, through sales enablement, through the creation of sales training programs, et cetera. That is key in making sure that we have a unified voice, a unified approach, so all our sales team is working in the same way and using the same language and articulating a value proposition in the same way. Also meant that we were able to attract fantastic talent. Both existing people who wanna find a place to grow and stay, and the next generation of salespeople who are looking for a place where they can start their career, and we will train them and help them become the best salespeople in the industry. To do all that, we also had to build the infrastructure to support it. You have so many new salespeople joining in. How do you know how they perform? How do you track how they're doing? Making sure that we help them in the cycle of knowing after three months and six and nine and 12 if they're delivering as we expected. It's important for their personal development point of view, of course, but also for us to be able to forecast their contribution to the business, what we expect them to do and how we expect them to deliver, as they become successful salespeople. On the value proposition, Guillaume is gonna expand more on our marketing efforts after me. The ability to expand our core value proposition and have a consistent story is key to our success. It was missing before in a very well articulated manner, and it is just fantastic now how it's coming to life. We are more visible. Why we're more visible? Because we have more people. We have more people to attend shows, to go to the exhibitions, to host events, to talk to customers, et cetera. We are louder. We make a lot more noise about our products, about customers that we win, about capabilities, events that we attend. We're more out there. We're noticeable. All this is fantastic because it helps us to create the momentum that in return brings a lot more leads in and help us build better, stronger pipelines. Now, what we have done as part of the sales team growth is also we create the SDR. It's a layer of people who are very much focused on the lead generation program. They work on new leads coming in, as well as creating new leads by approaching customers. We do it globally in all the different verticals. They help on propelling the sales team and being the engine behind it, if you want, and really get us in front of a lot more opportunities than we've ever done in the past. When it comes to our pipelines, we review them on a monthly basis. These pipelines are key to understand where we grow and how we grow and give us an indication of any opportunity the sales team is working on, where it sits in terms of the evolution, how many meetings we have with those prospects, where we see traction, what do we need to fine-tune in the messaging, et cetera. What is really exciting as the team is growing and people are being here for longer, is we see those pipelines growing faster, and we can see it happening in all the geographies, in all the different verticals. It also means that we can fine-tune the message. If we see that we need to put more effort on one area, we can divert the engine behind and make sure that we make more noise about specific products, specific geography, capabilities, and really build a support function so the sales guys can be really focused on selling, on doing what they're meant to be doing. I think Phil touched earlier about what we're doing with RFPs. Looking at the stats of 2021 versus 2022, in the first quarter of this year, we have participated in 40% of the total RFPs that we did in the whole of last year. Just give you an indication of the momentum that we're building, both in terms of the efforts, but also about being noticeable. As we celebrate success in all the different verticals and geographies, other companies are seeing us and recognize our capabilities and we participate a lot more. A lot more doors are open to us. The last area that I want to touch here is how we enhance the processes of onboarding with us, simplifying the process for customers, making it easier for them to want to work with us and making the whole sales cycle a lot more efficient, if you want. We call it the pod. We created something that is probably quite similar to what we did with the existing customers, only this is tailored around enterprise-level new business. In the pod, you will have a model that is what we call a white glove service. These pods will include anything from pre-sales engineers, boarding specialists, post sales, go live support, et cetera. We build these pods in region and in language, which means that we can go work with customers wherever they are in their time zone and a language they can relate to and understand. It's meant to be there to help the sales team in building the right proposition for a prospect, a new customer. We make sure that by doing that, we deliver as quickly as possible a solution they really need. Once they go live with us, we are laser focused on the integration process and how quickly they can ramp up and be a participating customer of ours. When all that's completed, it's where we've been moving over to the relationship management side, where they already have a structured support to make sure that there's a relationship manager who looks at the commercial side, someone who can support them on operations, and someone who can keep on working with them on all the different projects of new products, capabilities, authentic payment methods that they'd be looking to utilize with us. I touch a little bit about numbers of how many salespeople we had and where they were and what we did with them, et cetera. This is just to give you an illustration of how the team has grown over the past year and a bit and what we have done to make it such a huge success. Now, I think Phil mentioned before, a lot of our growth in the past couple of years came from the EMEA region, and there's a reason for that. Most of our salespeople were sitting there. So we focused and we grew the team there, and it was still the biggest one last year. We actually forecast to have North America bigger than EMEA by the end of this year. We are also focusing, as Phil mentioned before, on LATAM and APAC. LATAM and APAC are smaller for us. You can see we have less people selling it, but we're focusing on it. We have new sales leaders that joined us in both regions over the past few months, which means that we now can build the team to support them, bring in more salespeople that, people that can work in those regions and help us in growing our effort to grow those regions. What we have done by being very successful in EMEA is we now know how things should work for us. We know what worked really well in terms of bringing people in, training them on the product capabilities, the right way to sell, et cetera, and we're now doing the same. We've started in North America last year, and we're seeing the momentum already growing here, and we will do the same in LATAM and APAC, and we're seeing the results already starting to take shape there too. Trying to bring it all together is how did we grow in the last year? To put some names or faces to those customers. This slide has some fantastic names of existing customers where we grew share of wallet with because we engage with them better, because we engage with them more often, on a regular basis, and we have conversation about what they need, as well as new products that we have that we think will be relevant to them. We package it in a way that works better for them. They can digest it and understand. We do the same with new customers. You already heard from lastminute.com, from Gett, from ePRICE, from Fortuna, from quite a few customers about why they wanna give us more business and how our technological edge has really helped us there. They're not the only ones. You know, you have anything from Valve, who we launched 21 new alternative payment methods in 2021, including Alipay+, to customers like NET-A-PORTER, who we were supporting them in the launch of their new marketplace at the end of last year. These are great examples of customers who use the technology as a reason to expand relationship. We have others like Capital.com or Plus500, where it's the hands-on approach of managing them that really saw us winning share of wallet and expanding the relationship and acquiring services and alternative payment methods. Really winning share from competition as well, which is key. It is not just about the new stuff we're doing, but it is why we're positioned so well against our competitors. Then there's some fantastic new customer stories here. We touched quite a bit about some of the names before, like DraftKings and Fortuna and FanDuel and BetMGM. There's also really exciting names here that really show how we're expanding in geographies and in verticals. SHEIN, who's one of the biggest marketplace out of APAC, went live with us for services in EMEA and in APAC, is a fantastic example of what the team, still small but growing, in APAC is capable of doing. The Hut Group, which is a big retailer out of the U.K., using our services for their different lines of business in different geographies, et cetera. There's just fantastic examples of what we do in all the different verticals from all the different regions and how we're building momentum that is not centered around one vertical or one region, but it is a global success that we're seeing. This is when I get really excited. I think Phil shared that kinda volume in one of the earlier slides. We only processed $95 billion last year. I say only because when you look at the amount of traffic available, at $50 trillion in payments volume that is being processed globally, and how we're building our teams in all the different regions, to really be able to expand our offering and how much of this we can win over the coming years. We're making it everywhere. We're winning it from existing customers, but we're also trying to win from new ones. This is where I get really excited. When I look at these opportunities in terms of volume, and then I look at pipelines and what we do with existing customers and what we do for marketing effort, I really believe that we can easily triple the size of our business. With more salespeople, with more effort, there's absolutely no reason why we can't do that. That's why, you know, and Phil say it all the time, and I truly believe we are just getting started on our sales capabilities. Thank you, everyone. I'll hand it over to Guillaume. Good morning. My name is Guillaume Conteville. I'm the Chief Marketing Officer. I joined back in October. I moved over from Mastercard, where I spent the last 10 years. I was heading the digital marketing for them out of New York. Prior to that, I ran marketing and communications out of Western Europe. Before Mastercard, I had a career in advertising and media agencies at WPP, Publicis, and Interpublic. I was lucky enough to work and live out of New York, Singapore, Paris, and London, where I'm now based. Why did I join Nuvei? I mean, it's pretty rare that you come across a company that has such great fundamentals, amazing product, amazing people, amazing financials, but on the other side, such a low brand awareness. For me, the ability to come in and make an impact and really turn what I think is probably the best-kept secret in the industry and turn it into a brand that is well-known within the ecosystem in order to fuel growth and generate revenue. Marketing strategy is pretty simple. Two priorities, driving brand awareness and fueling the business. We are in an interesting juncture at Nuvei, where the priority is really to build awareness. In marketing, we're really thinking in terms of funnel. This is a typical B2B marketing funnel where you have awareness at the top, and then you convert people into consideration, preference, and then conversion into sales. The priority for us now is really to grow the base of the funnel in order to grow the potential for revenue later on. The priority will be about building the brand awareness, getting the name out there in order to help Motie's team getting on more RFPs, opening doors, and starting conversations to drive revenue later on. As we previously disclosed in our last earnings calls, we are very significantly increasing our marketing budget, which will allow us to have a 360 marketing plan, which will cover a wide range of disciplines and channels. We're gonna do advertising, media partnerships, PR, social, of course. Lead generation is also a key channel that we're gonna develop, working very closely with Motie's team. Events, we're gonna be present in more than 60 events globally this year. We're gonna be redesigning our website and also invest with key opinion leaders such as Forrester, Gartner, but also all the consultants that are involved in RFPs. We're doubling the size of the team. We are bringing experts in all of these disciplines. We've onboarded 14 people since January, and we're very happy with the additions. We brought a lot of very senior people in. We had, for instance, a new head of communications and PR, who is coming from 10x, Paysafe, and Monitise. We also have a very senior head of demand generation that moved over from Amazon Web Services. The great thing about this investment is that it's substantial enough to cover all focus verticals. We have a greater focus on the new verticals, of course, but also all geographies, and that includes LATAM and APAC. Big initiative for us this year is the brand refresh, which you're starting to see on these slides and some of the branding in the room. The objective here is to articulate and convey the product superiority that Yuval talked about. The story for us is pretty simple. We think the themes of simplicity and convenience and single integration, which is really what the industry has been focusing on the past three, four years, is not enough anymore. Sophisticated merchants today want a platform that has real agility and flexibility at its core and where every part is designed to accelerate their business and to drive revenue. Our new stripe line will be tomorrow's payment platform, which we will support. We've also designed to accelerate your business. This is a sneak peek into the look and feel. You're very fortunate. You're one of the first ones to see this, even employees haven't been exposed to this. As you can see, a pretty distinctive look and feel, pretty bold, but which is really focused on conveying this theme of agility, flexibility, acceleration, and future-proof. We're gonna be soft launching this the next month, and then this will be followed by a big campaign in May. For me, this is really the big news here. It's not so much the change of messaging or the new look and feel. For the first time, we're gonna go out there with a big campaign, something that we've never done at Nuvei in the past. For instance, we're gonna be May to July, we're gonna have around 85 million impressions. Just to give you a sense of scale, that's about 30 times what we've done historically. Hopefully, this will start moving the needle, and you will see our brand awareness catching up with the competition. Of course, we will be monitoring and optimizing this very regularly. Coming back to our strategic objectives of driving brand awareness and fueling the business. On the awareness side, we're gonna have a brand tracker in place where we're gonna be monitoring our brand awareness, continuous brand awareness, brand preference, and we're gonna track this against our competitors. Two waves in the year. The first wave is in field this week, and the next one will be later in the year. Don't look at these numbers. They are purely illustrative. It's just to show you how they're gonna be monitored. On the lead generation side, we of course have a very full optimization framework that tracks everything from impression leads, marketing qualified leads, sales qualified leads up to sales, and we are monitoring constantly and optimizing these figures or these KPIs based on volume and cost. That's the story for marketing. I'm now gonna hand over to Scott, who's gonna talk about our inorganic growth story. Thanks, Guillaume. I'm Scott Calliham. I head up our M&A team. I've been at Nuvei, going on three and a half years now. I've been in the payments industry for about 25 years, doing a lot of M&A work, both on the buy and sell side, as well as doing consulting work and being directly in a line of acquiring business at Bank of America, First Annapolis, and Accenture. Our team is global, located in the U.S., U.K., and Singapore in order to make sure we have the appropriate skill set to leverage across different regions to take advantage of, you know, different cultures, different languages, local business practices and time zones, and our plan is to continue to build out that team globally. We have a specific playbook we adhere to when we look at prospective targets. We don't do deals for short-term revenue growth, and we generally stick to three major themes. The first is new capabilities. This can be either new core product capabilities or adjunct capabilities for existing customers and verticals, and it can be new product capabilities for new verticals. We really look for capabilities that'll help our customers connect better with their customers, and that's what really drives us. The second theme is geographic expansion. Our goal is to provide global as well as local solutions for our customers. Given that, most regions outside of the U.S. are very fragmented, that can mean a need for local licenses, local solutions, and local relationships. For example, you know, if you wanna go outside the U.S. and get an acquiring license, really kinda outside of Europe too, it can take months to years. Finding a target with the right licenses that you need can really help speed time to market considerably. The regions we're looking to expand in the shorter term are APAC and LATAM, as well as North America and Europe. The third theme is increasing scale. We don't wanna end up with multiple platforms across different regions whereby you can't leverage economies of scale. I mean, our goal is to have a single integrated platform whereby every transaction you process increases your efficiencies. Execution. We like to find deals outside of auction processes. Not always that easy, but it's much better than being an auction process. It's a more efficient use of your resources. I mean, getting a deal done outside of an auction process is usually higher compared to an auction process, and the overall valuation levels tend to be higher in an auction process. We're constantly researching and in discussions with potential M&A targets to make sure we find the right fit. Capital. We look to make sure we use our capital where it makes sense. M&A has to make sense within the context of a build or buy strategy, and we're always gonna look at that as we pursue every deal. Right now we have a lot of flexibility with deploying either cash, stock, or some form of contingent consideration, and we'll customize every deal for this to make sure it makes sense for us as well as the seller. Integration. Integrations, I would say, are probably the more important aspect in M&A, to make sure a transaction's successful. I mean, getting a deal is never easy, but the most important part and most complex part is actually after closing. Making sure you've got the right culture, the right, the synergies you've identified are realized. If you don't do those things, then what you pay for, you're not gonna get what you pay for. We have a defined process for integrations, a process that works. We typically plan integrations, start planning them after signing, bring in all the appropriate individuals from Nuvei as well as the target company, across multiple functional areas to make sure we have a smooth integration process. Overall, I'd say we have a disciplined approach to M&A to make sure we use our resources, both people and capital, efficiently. What I wanted to take you through in the next few slides is some of our most recent acquisitions to let you know why we're excited about them and how they fit within Nuvei. We acquired Smart2Pay in November 2020 for $337 million. The primary rationale for this deal was an expansion of our product capabilities. Their APM platform, technology, and process to efficiently and quickly roll out APMs was an attractive aspect to the deal and something they frankly did better than us. This allows us to have more direct integrations with APMs, which generally have a lower cost and a higher authorization rate compared with going indirect through a third party. Smart2Pay added 200 APMs to our portfolio at the time, which means increased product functionality and increased stickiness with our customers. Smart2Pay also expanded our presence in social gaming and online marketplaces. Smart2Pay is fully integrated today and part of our technology stack. We're extremely pleased with the results as year-over-year revenue growth has grown 49%, and that actually excludes the acquiring revenue from cross-selling activities, which was $5.3 million in 2021. Overall, the combination here is so powerful. We're able to roll out 15-30 new APMs per quarter, which obviously helps to increase our volumes, but more importantly, adds product functionality for our customers. We acquired Base Commerce for $93 million in January 2021, and Mazooma for $55 million in August 2021. These two deals are very complementary to each other as they position us as a leader in real-time ACH as we look to build out our non-card capabilities. These represent ACH and instant bank-to-bank payments and real-time accelerated withdrawals, allowing customers to have immediate payouts to their bank accounts 24/7 year-round. They also provide us the infrastructure needed to help us to continue to grow our U.S. online gaming and sports betting business, giving us at the time of the deal, registered vendor status in the U.S. and 13 states, holding money transmitter licenses in 47 states. We continue to build out that infrastructure as each state regulates gaming. We're combining and integrating these two platforms to make sure we take advantage of the unique capabilities of each. For example, Mazooma has great front-end capabilities and Base has great back-end capabilities, and the two combined are a really powerful combination. Base had revenue growth of 5% year-over-year. However, this performance is a little misleading, as the merchants who would normally, for acquiring services, would've been in the Base business are now being boarded to the Nuvei platform. As well, as Modi mentioned, we're building out our U.S. direct sales force, and they're gonna be selling this product set to new and cross-selling to existing customers. Mazooma grew revenue 90% year-over-year, with the bulk of this growth coming in quarter four. We're gonna be expecting this kind of revenue growth going forward. We're just scratching the surface on the opportunities these deals represent for us as they allow us to expand our total addressable market, and we see a long, long runway here for us. Simplex. We acquired Simplex in September 2021 for $250 million. The primary rationale for this deal was an expansion of our product capabilities as well as an expansion of the verticals we service. Simplex provides on and off-ramp capabilities to the crypto vertical, as well as a risk as a service through their zero chargeback guarantee product. Simplex supports over 97 fiat currencies today, which allows our customer's customer to purchase over 129 crypto assets in their local currency. We plan to expand the Simplex services to more regions as well as a greater focus on the NFT platform. We also plan to expand the risk-as-a-service product to allow our customers across all verticals, just the ability to score transactions and the ability for us to assume liability on those transactions should the customer want that. Simplex also has a rich machine learning environment, which we plan on leveraging across other parts of Nuvei. On top of this, we are really excited about the upside here because Simplex really had little sales. They were a product and technology company, so the opportunity for us to continue adding exchanges and cross-sell acquiring services is immense. Simplex grew revenue 226% over 2020 to 2021. Little note on this though, Simplex and the crypto industry in general had an incredible run-up in volumes in quarter two of last year, which we're not expecting that level of growth to continue. As you've heard from Phil and Dave previously, we're taking a more conservative view for 2022. The upside here is so powerful for us as Simplex provides a bridge between the fiat world and the digital assets world, and they have so many tentacles for growth in combination with our capabilities. We acquired Paymentez in September 2021 for $24.5 million in order to expand our presence in Latam as well as to build out our leadership team. I'll introduce you to Juan Franco, the CEO and Co-founder of Paymentez, who will walk you through why he thinks the deal made sense as well as what our opportunities are going forward together. Thank you, Scott. Hello, everyone. Before I want to give you a little bit of background of Paymentez or Payment Easy. Initially it was Paymentez in Spanish, Portuguese, but in English it's Payment Easy. Basically 10 people 10 years ago in Brazil, we decided to create a payment company. It was five Colombians, three Brazilians and two Argentinians, all together in Brazil. Why in Brazil? Because we were coming from a gaming company. We founded and we sold a social gaming company. Then we noticed and we figured out how important was payment for us, so that's why we decided to create a payment company in Brazil. Then we start to expand outside of Brazil. We opened operations in Mexico, Colombia, Ecuador, Peru, Chile, Argentina, and Brazil. We were very focused on technology, more than sales in technology. We were a product technology company. Basically, our main focus was let's have the best connectivity in Latin America. Let's connect all the acquirers. Let's connect all the APMs. We need to offer the best connectivity. Customers will come. and that's the way that we were working on. We had been working with the largest digital players in Latin America. One day, Nuvei call us and say, "I wanna use your platform. I wanna use your technology." Because somebody in Mexico referenced us to them and all that. That was almost two years ago. Then we start to work. They start to use our technology. We were starting to support customers together. Naturally, we start to have conversations. We figured out that, you know, having a strategic conversation with them made sense. That was in 2020. At the end of 2020. During 2021, basically, we closed the transaction with Nuvei. Basically, we are a success case of selling a company on Teams or Zoom. We didn't meet each other. Everything was on Teams and Zoom. In October 2021, Nuvei acquired the company. Now let me tell you why I'm so excited and the team is so excited about being part of Nuvei. Is that we believe that we offer together the best value proposition for any company that requires payments in Latin America. Why? You have seen all the technology, you know the technology that Nuvei has, you know, that Juan was explaining. Now you can combine our knowledge, presence that we have in Latin America, and that's what we believe is the best solution for any customer, for any company that requires payment in Latin America. For us, this is just the beginning. You know that we sold the company, has ended. For all the Paymentez team, now Nuvei's team, this is just the beginning. Thank you for coming. Thanks, Juan. So Paymentez grew revenue year-over-year 23%. We're really excited about the upside here because of our capabilities to be able to offer our LATAM capabilities to merchants expanding into LATAM, as well as LATAM merchants wanting to expand globally. I would say, look, this is a small transaction for us from a purchase price perspective, but it's not indicative of the opportunity. There's a huge opportunity with Juan and his team and their presence in the market. Going forward, we certainly continue to be busy today in looking at M&A targets. I mean, public market valuations today have been coming down the last few months, although we see private market valuations are still kind of stuck, you know, at levels previously. I mean, we think they're gonna come down. We're open to targets that we look at, whether public or private. As long as they make sense, we stay disciplined and stick to our playbook. You know, we look at smaller tuck-in acquisitions as well as larger, more transformational deals. You know, when we find an amazing company that's in verticals of interest for us, which is primarily digital, you know, that's accretive to us, that has, you know, similar culture and opportunity to drive customer value, we're generally willing to take a serious look, whether that be a public, private, smaller or larger deal. Going forward, you know, our exceptional balance sheet and low leverage provides us with a lot of optionality and flexibility, you know, as we look at opportunities. I would say we're in early days on our M&A path and we're excited about our prospects and M&A's gonna stay a pillar for our strategic growth. I'll turn it over to Nikki, who will take you through our people and culture. Thanks, Scott. Hi, my name is Nikki Zinman. I'm the Chief People Officer here at Nuvei. I'm super excited to have the opportunity to tell you about our people today. We're extremely proud of our people and our culture and our capacity to attract and retain top talent. I lead the HR function globally, and I'm focused on the creation and execution of our people plans. I also ensure our people plans are in alignment with our business plans. I joined Nuvei not too long ago as part of the thoughtful effort to enhance the executive layer. When I was considering opportunities, I was attracted to Nuvei really for three main reasons. Its strong growth trajectory, its focus on global expansion, and it's a relentless commitment to employees, their success, and their wellbeing. Working closely with the leadership team and really employees at all levels, we are driving a winning culture, a place where all employees can thrive, both personally and professionally. I wanna share with you today a few highlights that will show how we make the most of our world of talent at Nuvei and why people join us, grow with us, and stay with us. How do we build an engaged and driven workforce in support of our growth? Guided by our values, we build a winning culture by being distinctively human and looking at everything through a culture or a human lens. What does it mean for people? It includes having purposeful and meaningful work. We align our incentives with shareholder value. All of our employees at all levels are shareholders themselves. We strive for an environment where employees have a sense of belonging, a strong community of practice, and where employee wellness is always top of mind. We share our success. When we are successful, our employees also share in the wealth and enjoy enhanced rewards. We have a direct and open relationship with our employees and are accessible. We listen to our employees, we communicate and solicit feedback regularly, and we take action. What's amazing at Nuvei is we have really low attrition, even in a market like we are all seeing today. Our culture is unique and our workforce is super engaged and committed. This also supports stability and resiliency. We are a highly multicultural and diverse workforce. With at least 70 nationalities and employees in 32 locations globally, we have a talent base fit for purpose and aligned with growth and customer needs. We grew our headcount by 57% in support of scale since 2020, and we also are deliberate as to how we invest. Product and technology make up the bulk of our workforce. They are the largest group. As you heard today also from Motie and from Guillaume, we also have made significant investments in sales and marketing and will continue to do so. Our enabling functions are the smallest group, with operations who support our customers, accelerate their success, manage training and new launches are also right-sized and well-adjusted to client needs. One initiative where we have focused recently by way of diversity, although not the only initiative, but something we're passionate about, is supporting women in technology. If we consider women overall in the workforce, along with women in leadership roles, and then specifically in tech roles such as product, IT, and engineering, we have achieved good outcomes, and we are proud. We'll continue to execute against our vision to grow women in technology and leadership and measure the results of our strategies so we can remain a place where we attract and develop women and have them as role models and mentors for others. Our diverse group of employees maximizes our success, and we shape this through collaboration. Our employee experiences are designed to emphasize priority values such as innovation and diversity and inclusion. At Nuvei, we take care of our own. It's a cornerstone of our employee value proposition, and it also forms the commitment we have to seeing our employees thrive, both personally and professionally. We have a compelling value proposition for people, and we have pride in that organizational capability. We promote from within and build career progression into our fabric. By having a globally inclusive and generous equity plan where all employees share in our success, we are able to attract and engage a high caliber of diverse talent to Nuvei. Along with learning and development opportunities, impactful and innovative work, internal career progression, commitments to philanthropy and social causes, we are a place where everyone can progress, feel valued, and meet their career goals internally. We are so proud of how this makes for low attrition, a fun, driven, and dynamic culture, and these are proven strategies to continue growth. We take care of each other, we support each other, we hold each other to account, and we succeed together. Let's talk about how we're approaching ESG at Nuvei. This is an evolving journey with milestones well-mapped. We have partnered with a top-tier firm to assist us with diagnostics, to develop plans, and also to calibrate against benchmarks. We also have made this a priority across all functional areas by developing work streams, working groups who help to create our vision, communicate our goals, execute, and also measure the results. We will be releasing our inaugural ESG report this year, and our ongoing efforts in this area will not only contribute to performance, but it's also about how we wanna show up in the world, whether it's environmental causes or ensuring a workplace where all employees feel valued and feel safe. We have embarked on a clear journey. Speaking of governance, we are overseen by a board of directors who all hail from technology or financial services companies who are known for their practices. We also were thrilled to announce recently that we just added one new board member, now in March, Samir Zabaneh, increasing not only our capabilities but also our commitment to diversity. We are looking to expand our board with emphasis on adding further diversity. Our board and their governance is a great benefit to the business as Nuvei scales in size and in revenue. In closing, the future of HR at Nuvei is bright. Our culture allows all those at Nuvei to unleash their whole potential towards the common goals of the business. I hope the highlights I shared today gave you a taste of how we approach organizational effectiveness and how proud we are of our talent. I'd now like to welcome David Schwartz. Talk to you in a few. Good afternoon, everybody. I'm David Schwartz. I'm the Chief Financial Officer at Nuvei. For those of you that don't know me, I joined Nuvei in 2018. Prior to that, I spent about 8 years in an international omni-channel fashion business. Then prior to that, I actually spent 10 years in payments, so I was in payments before. I was at what was called at the time Optimal Payments, and now known as Paysafe. You've heard from my colleagues. I'm gonna kind of try and bring it all together and show you from a financial perspective the performance, both historically and what we're seeing on a go-forward basis. Nuvei is truly a fintech like no other fintech. If you think about the key performance indicators within our business, and I have some of them here on the screen, we really excel. If you think about it from a growth perspective, we've had consistent year-over-year growth, quarter-over-quarter growth. Our CAGR for the last couple of years has been in excess of 70%. On an organic basis, in excess of 60% in the last year. Our margins are high, both at the gross margin level but also at the EBITDA margin level. We're profitable, meaningfully profitable, over $100 million in net income last year. Cash generative. This is a business that generates a lot of cash. You know, Scott talked about the capital allocation and the flexibility we have. Well, you can see it. It's a very cash generative business. Ultimately, what does that yield? That cash generation yields a strong balance sheet and gives us, you know, capital allocation flexibility and a lot of options available to us. How unique are we? We looked at the universe of fintech companies, about 700 that we looked at, and then we narrowed it down and said, "Let's look at the key performance indicators and who really outperforms against those indicators." We identified, let's say, there's the four that we pulled out, which was, you know, reported revenue. Then there was revenue growth, because on a revenue perspective, we want to make sure there's companies of scale. Then you look at growth, profitability, and cash flow. When you parse that down at these kind of levels that we indicated here, it really results in only a handful of companies that kind of fall through at the end of the funnel. Nuvei is one of them, and we're obviously very proud and very humbled at the same time to be part of such a select group of companies. It truly is a financial, a unique financial profile that we have. What drives that? What drives it is everything my colleague just spoke to you about, right? That's what drives it. It's execution. It's all of these strategic initiatives we have in play. It's also the model, right? It's a scalable model. That operating model is quite interesting. We're gonna talk a little bit about the cost structure, but then I'm gonna talk a bit about the growth 'cause they go hand in hand. From a cost structure perspective, there's obviously the variable cost, and there's the fixed costs. Interestingly, our variable costs represent the minority of our costs at 47%. However, within that bucket are the two largest components of cost. Cost of revenue and commission are the two largest components. We have initiatives within those buckets as well as within fixed costs to ultimately drive higher EBITDA margins. Let me walk you through a few of those examples. The first is around cost of revenue. Today, a portion of our cost of revenue relates to third party that we use to process payments, particularly in North America, around clearing and settlement. As we insource that, which is on our roadmap, our cost of revenue will decrease and then enhance margins. On the commission side, Motie talked really a lot about our global e-commerce direct business. That business, of course, because it's the direct, there's no commissions we're paying on that. The indirect channels is where we pay our perpetual commissions. As the global e-commerce direct business becomes a larger proportion of our business, and it's growing quite fast, as you saw, the commissions as a percentage of the overall cost base is gonna go down. As it relates to fixed costs, so of course, just by their very definition, their nature, fixed costs are fixed, and everything is kind of leverageable upon that. What's a little bit different, and you've heard it, you know, from Guillaume and the rest of the team, we're investing in the business. We've been doing that for quite a while. The new investment that's happening now is really around marketing and building the brand awareness. As we exit kind of that initial and more intense investment period, of course, that leads to margin expansion once we exit that period. Now in terms of growth, you've seen our growth. We think it's, you know, outstanding performance. We're proud of it. Why are we doing it? Well, we're executing, right? That's yielding, if you look at the most recent quarter from a volume perspective, we grew 127%. From a revenue perspective, we grew 83% year-over-year. It's really about execution. You've heard it a couple of times earlier today that 80%, you see on the screen here, 80% of our revenue growth comes from existing customers. If you look, that's the growth part, okay? If you look at our total revenue, 90% of our total revenue comes from existing customers. What does that mean? That means we have a base of business that's large and that's accessible, and it provides a significant amount of growth for us. It provides visibility, it provides us confidence, it provides us stability. So that's an important piece to take away. If you look at margins, again, high margins at the gross margin level and at the EBITDA margin level. From a gross profit perspective, we're very much focused on driving gross profit dollars. That's really the focus for us. You know, the question comes up to us and others in the industry about take rate. That's kind of a common question. For us, it's not about driving take rate. That's an output. You've heard that from us before. It's really about driving that incremental dollar. When you think about Phil in one of his slides about the modular technology versus the acquiring technology. Our modular technology is growing twice as fast as the acquiring technology, and that's where the value is, and that's what drives the higher take rate that you see in our business. A very specific example that falls into that modular technology section is really APMs, the alternative payment methods. Just purely from a bit of a technical perspective, those APMs, we record the revenue on a gross basis, whereas on the acquiring side, of course, you know it's net of interchange. That gives you an idea of kind of one example of why there's kind of that higher take rate, and that really drives from the modular technology side. In terms of EBITDA and EBITDA margin, more specifically, you can see that our margins have been relatively stable, right? In the low 40% range. That's really because of the fact we're putting our money back into the business. We're reinvesting it back in, and so that's why it's there. We're very comfortable at that level, and you see in our outlook that that's kind of the area, you know, the level that we see for this year. We're reinvesting and ultimately to drive growth, more growth in the future. If you think about high level of profitability, like I said before, it drives cash, right? This is not a capital-intensive business. From a working capital perspective, it's not intensive, and from a CapEx perspective, it's also not in-intensive. So it leads to high cash generation. When you take that high cash generation and couple it with low leverage, it equals, you know, a lot of optionality from a capital allocation perspective, and we really are happy in how we're positioned for that. Scott talked a little bit about capital allocation. Here's kind of the lay of the land with capital allocation. We kind of look at it in three buckets. Number one is organic growth. From an organic growth perspective, for us, it's the lowest hanging fruit. Like, putting the money back into the business makes the most sense. We have done that. We're continuing to do it. You know, the marketing side is a new investment, and we're really excited about it. In terms of acquisitions, we'll continue to be very disciplined, very selective, and really drive capabilities and geographic expansion through our acquisition strategy. Then the last part is around capital structure. From a capital structure perspective, you heard when we announced our results, our fourth quarter results earlier this year, that we put in place a share buyback plan. That plan will authorize us to buy 6.6 million shares back. I think if you saw our press release about 10 days ago, we stated that up to that point in time, so 10 days ago, we bought back 1.2 million shares of the 6.6. At the same time, we put in place an automatic share purchase plan to continue to drive that share buyback. The last area around capital structure is really around debt repayment. We do have a small amount of debt on our balance sheet, not a huge amount. We have a small amount, and that could be part of our strategy as well to pay back some of that early if we choose to. What are we seeing for 2022? We are reiterating our first quarter and our full year 2022 outlook today. You know, the first quarter, I guess the one thing I'd talk about there, it reflects the investments we're making back in the business. Specifically, marketing investment is new for this year, so it's not just for the first quarter, but the full year, but it's new definitely in the first quarter. We really wanna drive the brand awareness. We're not known. I think you all kind of realize that. We're really not known. We're just scratching the surface. We're just getting started. That brand awareness investment is gonna really fuel future growth. The other thing I wanna point out on this slide, when you look at our full year outlook, there's a couple of very, very interesting milestones for us. One, on the volume, total volume, we're gonna be over 100 billion processed of total volume this year, 100 billion. It's a great number. Well over it. In terms of our revenue, we're approaching $1 billion in revenue. Two very, you know, impressive milestones we're proud of. Then in terms of our medium and long-term targets, again, we're reiterating those today. In terms of our total volume and revenue growth, those targets are in the medium term to grow in excess of 30% year-over-year, and then over the longer term to expand adjusted EBITDA margin. I talked to you a bit about some of that, you know, flexibility of what we have and how we're gonna drive that. You've heard from the team today, and, you know, we're really excited about what we see, we're confident about what we see, and we're, you know, looking forward to more to come. With that, I will pass it back to Phil for closing remarks. Good job, Mr Schwartz. I'm impressed you guys lasted the whole time. Thank you, everybody. What we tried to do today was give you guys a visibility into our journey, into our technology, our people, our leadership, why we're so confident in our midterm growth targets, and where we see, you know, the white space ahead of us, you know, in our current markets that we operate and in the markets available to us for continuing expansion. We really appreciate everybody's support. We really appreciate the one-on-one conversations we've had with many of you. We are thankful for our partnership, and what we wanna do next is open up for Q and A, but I know it's been long, so probably take a five- to 10-minute break. We'll open up for lunch and welcoming me on stage will be the team that presented. We're also inviting Max, our CTO, and our head of product and make it very interactive. We're here as long as you guys need us to. Let's take that break, let's go for lunch, and we're here. Thank you, everybody.