Quarterly guidance

Q4 2026 Adjusted Net Revenue
Approximately $1.375 billion, equating to year-over-year growth of 36%.
Q4 2026 Adjusted EBITDA
$492 million.
Q4 2026 Adjusted Net Income
$276 million, reflecting a 20% net income margin.
Q4 2026 Adjusted EPS
$0.19.

Annual guidance

2026 Adjusted Net Revenue
$5.4 billion, up 40% year-over-year.
2026 Adjusted EBITDA
$1.66 billion, implying a 33% margin.
2026 Adjusted Net Income
$840 million and a 17% margin.
2026 Adjusted EPS
$0.61.
2027 Adjusted Net Revenue
$6.4 billion, representing 27% year-over-year growth.
2027 Adjusted EBITDA
$2.24 billion, with an EBITDA margin of approximately 35%.
2027 Adjusted Net Income
$1.28 billion, with a net income margin of approximately 20%.
2027 Earnings Per Share
$0.90.

Outlook

Interest Rate Assumptions
The 2027 outlook assumes two rate hikes during the year and a 24% effective tax rate.
Capital Adequacy
The 2027 plan is fully funded by organic capital generation without the need for raising additional capital.
Net Interest Margin
Management continues to expect a healthy net interest margin above 5% for the foreseeable future.
Technology Platform Growth
Management remains confident in the technology platform's ability to return to 25% revenue growth in a steady state.