✍️ A letter from our CEO
The second quarter of 2025 was another strong step forward for Surfboard. Compared with the same period last year, revenue grew 174 percent. Since October 2024, monthly recurring revenue has increased by an average of 9.7 percent each month, while overall monthly revenue climbed 7 percent month on month. Transaction volumes also continued to accelerate, now growing at a pace that reflects the scale of our expanding terminal base nearing 4,000 units.
Over the past year, AI has quietly become part of our daily operations. For our developers, it has meant more output, faster cycles, and higher quality delivery without proportional increases in headcount. For our support team, nearly 70 percent of merchant conversations are now resolved automatically, while our people focus on the more complex cases that require human attention. Across Surfboard, AI is no longer a pilot program. It is a constant collaborator. We call this scale without scaling.
Because we are partner first, this transformation extends directly to the ecosystem around us. For partners, it means faster integrations, better toolsets, and more opportunities to add ready to use AI capabilities into their own offerings for merchants. Our role is to empower partners so that they can innovate, scale, and serve their customers more effectively.
Q2 also brought important product launches. We introduced Pay by Bank, a new account to account payment method. In Denmark, we rolled out Tap to Pay on iPhone and added Dankort acceptance, giving merchants more choice and flexibility. And while it officially went live in August, we also prepared the launch of Tap to Pay on iPhone in the UK, a milestone that will significantly expand our reach.
What excites me most is what lies ahead. Just this week, I spoke with our CTO about what the team is building, and it feels massive. From new AI powered capabilities to extended online and in store solutions, the next twelve months will bring innovations that take Surfboard to an entirely new level.
Looking back at Q2, I feel proud not only of the results, but of the way we achieved them. Looking ahead, I feel even more energized. The future is bright, and just like when you catch the right wave, the momentum is building. At Surfboard, we are paddling hard, standing tall, and ready to ride.
Thank you for being part of this journey.
Christopher Lindfeldt
CEO, Surfboard Payments