“That said, we did see a decline in our Q3 transaction margin dollars. We do expect them to decline again in Q4, but to a lesser extent. So, I really view Q3 as the low point and we'd expect to see an improvement in the profile in Q4.”

In context

“ne is open. Jason Kupferberg: Good afternoon, guys. Alex, welcome. Gabrielle, best of luck. And I wanted to actually ask about the transaction profit dollar growth. In Q4, will that year-over-year decline be more or less than it was in Q3? And then, how should we think about the potential for this metric to see improved growth into 2024? Maybe you can comment on which of the initiatives that are in place to offer more potential than others to move the needle on transaction profit dollar growth next year? Thank you. Gabrielle Rabinovitch: Yeah. You bet, Jason. Maybe I'll start. Well, as you heard Alex discussed and I commented on it as well, our focus really is on driving profitable growth. And we're putting the weight of the organization against initiatives consistent with that objective. That said, we did see a decline in our Q3 transaction margin dollars. We do expect them to decline again in Q4, but to a lesser extent. So, I really view Q3 as the low point and we'd expect to see an improvement in the profile in Q4. In addition, obviously, we're not guiding 2024 on this call. Longer-term, our success will, in part, be determined by our ability to reaccelerate profitable growth in the business and we expect to be able to do that. Alex, anything else you want to add? Alex Chriss: I just -- I want to underscore, I know I've -- I said it in the comments and I just want to underscore it again. We have every opportunity to drive profitable growth. It's just a focus that -- and a discipline that we will bring to the organization. And so, it will take time. There will be a sequential performance improvement over a number of quarters. But when we make it the focus of the organization, we have enough levers at our disposal to be able to deliver on that. Jason Kupferberg: Thank you. Operator: We have time for o”