• Bandhan AMC partnership: Zaggle has signed a deal to deploy its Zoyer platform for Bandhan AMC, generating revenue through one-time software fees, annual recurring revenue (ARR), and payment interchange.
• Zoyer platform contribution: Zoyer accounts for approximately 44.1% to 45% of gross revenue and is projected to maintain a contribution range of 45% to 50% amid rising demand in procurement, T&E, and accounts payable.
• Margin outlook: Full-year margins are expected to sustain around the Q1 level of approximately 7.5%, with potential for slight improvement as AI-related costs continue to rationalize.
• Free cash flow: The company expects to achieve positive operational free cash flow within 18 to 24 months, supported by roughly 95% gross margins in its SaaS and program fee segments.
• MDR opportunity: Products like Broome and zag.money stand to benefit from P2M merchant discount rate (MDR) opportunities taking effect on October 15, with clearer financial visibility expected by January.