The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Andrew Schmidt - Citi - Analyst
: Congrats on the results and the first full year of GAAP profitability here. I wanted to ask on marketing spend. So good leverage in the fourth quarter,
obviously, comping high levels in the prior year. But maybe going back to something you said, you commented that, obviously, organic ads should
help the profile there. Are you seeing that in the quarter?
Are you seeing a higher level of organic ads versus paid? And then as we think about 25, I caught the comment in terms of the first quarter marketing
spend per quarterly active, but how should we expect that to trend for the full year?
Question: Allison Gelman - Barclays - Analyst
: Allison on for Ramsey. So I understood that the guidance for the full year doesn't include any changes in the macro or any regulatory changes. So
just in that context, would you be able to share your most up-to-date view on how you guys are currently viewing the political environment when
it comes to immigration specifically?
Question: Rufus Hone - BMO - Analyst
: I wanted to come back to the 2025 guidance. And curious if FX was a tailwind for you this quarter. And I guess I'm just curious how you're thinking
about FX impacting 2025. And then maybe also asking about the EBITDA margin in a slightly different way. I'm just curious to hear your thoughts
on whether the sort of 150 bps of annual expansion, is that a good pace for margin expansion over the medium term?
Question: Cristopher Kennedy - William Blair - Analyst
: Great results. Can you just give a little bit more color on the micro business opportunity? What's the current landscape today and how do you
leverage your platform to capture that opportunity?
Question: Darrin Peller - Wolfe Research - Analyst
: Nice job on the quarter. Can you just give us a quick update on any progress you're making around broader financial services, family accounts via
Remitly Circle, and just where that is? And then I just have a quick financial question follow-up. Maybe I'll ask it right now altogether, which is
around gross margins. And I think you mentioned it would -- from a gross margin leverage standpoint, it would be about similar in 25.
In other words, it will grow in line with revenues, I guess. And so, I'm just curious why we couldn't see -- expect to see a little bit more than that just
in the context of better risk management and AI. You guys have done a great job on that so far. So what could drive the upside to that?
Question: Alexander Markgraff - KeyBanc Capital Markets - Analyst
: Maybe, Vikas, just one on the 25 revenue outlook. I think modestly better than what you had guided to on a preliminary basis last call. I think gross
adds or net adds or quarterly activities were pretty similar to how you had talked about them for the fourth quarter. So just maybe get your thoughts
on the delta there between the updated 25 outlook and what you had shared last call. And if you could just fold some gross add expectations, and
retention expectations for 25 into that, that would be helpful.
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