Matthew Kickert

Matthew Kickert from Stifel Financial Corp. asked about Q2's view on the banking M&A landscape and its impact on 2026 guidance, and the internal AI efficiencies contributing to the 2026 EBITDA expansion target.

Answer

CEO Matt Flake noted that banking M&A activity is picking up, with Q2 historically being the go-forward solution in 93% of transactions involving its customers. CFO Jonathan Price added that known M&A deals are captured in guidance, with hypothetical M&A representing potential upside. Regarding AI efficiencies, Matt Flake stated that all departments are using AI tools to drive efficiencies, and Jonathan Price confirmed that 2026/2027 margin expansion targets have conviction regardless of AI, with significant leverage expected beyond 2027.