RPAY (Repay Holdings Corporation) Stock Financials & Earnings

RPAYRepay Holdings Corporation

Mkt Cap$283M

Technology·Software - Infrastructure·🇺🇸 United States·NASDAQ

Revenue (TTM)$309M

Net Income (TTM)-$121M

EPS (TTM)-$1.37

Free Cash Flow (TTM)$81M

Gross Margin75.5%

Op. Margin-36.5%

Net Margin-39.1%

FCF Margin26.1%

P/S Ratio (TTM)0.9x

P/E Ratio (TTM)—

YoY Rev Growth-0.6%

Employees—

Earnings Reports

▶Q3 2025

Repay Holdings Corporation provides integrated payment processing solutions to industry-oriented markets. The company's payment processing solutions enable consumers and businesses to make payments us...

CEO John Andrew MorrisIPO Jul 17, 2018www.repay.com

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q4 22	$73M	$58M	-$18M
Q1 23	$75M	$57M	-$18M
Q2 23	$72M	$55M	-$10M
Q3 23	$74M	$57M	-$5M
Q4 23	$76M	$59M	-$78M
Q1 24	$81M	$62M	-$3M
Q2 24	$75M	$59M	-$3M
Q3 24	$79M	$62M	-$675K
Q4 24	$78M	$60M	-$1M
Q1 25	$77M	$59M	-$4M
Q2 25	$76M	$57M	-$105M
Q3 25	$78M	$58M	-$3M

Valuation

Quarter	P/S	P/E
Q4 22	2.7x	58.3x
Q1 23	2.0x	—
Q2 23	2.5x	—
Q3 23	2.3x	—
Q4 23	2.5x	—
Q1 24	3.3x	—
Q2 24	3.0x	—
Q3 24	2.3x	—
Q4 24	2.1x	—
Q1 25	1.6x	—
Q2 25	1.4x	—
Q3 25	1.5x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 22	$22M	$21M
Q1 23	$21M	$7M
Q2 23	$20M	$10M
Q3 23	$28M	$14M
Q4 23	$35M	$8M
Q1 24	$25M	$14M
Q2 24	$31M	$19M
Q3 24	$60M	$60M
Q4 24	$34M	$23M
Q1 25	$3M	$2M
Q2 25	$33M	$23M
Q3 25	$32M	$32M

Capital Expenditures

CapEx

Quarter	CapEx
Q4 22	$553K
Q1 23	$14M
Q2 23	$10M
Q3 23	$14M
Q4 23	$27M
Q1 24	$11M
Q2 24	$12M
Q3 24	$211K
Q4 24	$11M
Q1 25	$146K
Q2 25	$10M
Q3 25	$122K

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 22	+16.8%	+9.8%
Q1 23	+10.3%	+24.2%
Q2 23	+6.4%	-2.8%
Q3 23	+3.9%	+3.2%
Q4 23	+4.6%	+69.8%
Q1 24	+8.3%	-10.0%
Q2 24	+4.4%	-4.1%
Q3 24	+6.5%	+0.5%
Q4 24	+3.0%	-48.6%
Q1 25	-4.2%	-2.7%
Q2 25	+1.0%	+130.5%
Q3 25	-1.8%	+1.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 22	$0	0.0%
Q1 23	$4M	5.4%
Q2 23	$7M	9.1%
Q3 23	$6M	7.7%
Q4 23	$6M	7.8%
Q1 24	$6M	7.8%
Q2 24	$6M	7.7%
Q3 24	$0	0.0%
Q4 24	$6M	7.5%
Q1 25	$5M	6.9%
Q2 25	$3M	4.0%
Q3 25	$6M	7.1%

OpEx Breakdown

Quarter	SG&A
Q3 23	$35M
Q1 24	$37M
Q2 24	$35M
Q3 24	$37M
Q2 25	$33M
Q3 25	$35M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q4 22	16.8%	6.0%	22.8
Q1 23	10.3%	16.9%	27.2
Q2 23	6.4%	16.7%	23.2
Q3 23	3.9%	24.4%	28.3
Q4 23	4.6%	24.9%	29.4
Q1 24	8.3%	28.3%	36.6
Q2 24	4.4%	28.7%	33.0
Q3 24	6.5%	41.9%	48.4
Q4 24	3.0%	22.7%	25.7
Q1 25	-4.2%	21.1%	16.9
Q2 25	1.0%	-106.8%	-105.8
Q3 25	-1.8%	26.1%	24.3

Revenue Segments

Quarter

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 22	$65M	$0	$65M
Q1 23	$92M	$0	$92M
Q2 23	$104M	$0	$104M
Q3 23	$118M	$0	$118M
Q4 23	$118M	$0	$118M
Q1 24	$128M	$0	$128M
Q2 24	$147M	$0	$147M
Q3 24	$169M	$0	$169M
Q4 24	$190M	$0	$190M
Q1 25	$165M	$0	$165M
Q2 25	$163M	$0	$163M
Q3 25	$96M	$0	$96M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q4 22	89M	-19.6%
Q1 23	89M	+0.1%
Q2 23	89M	+0.6%
Q3 23	91M	+2.2%
Q4 23	91M	+0.1%
Q1 24	91M	+0.0%
Q2 24	92M	+0.7%
Q3 24	103M	+12.3%
Q4 24	88M	-14.3%
Q1 25	89M	+0.7%
Q2 25	89M	-0.4%
Q3 25	83M	-6.8%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 16	—	—
FY 17	—	—
FY 18	$33M	4
FY 19	$430K	243
FY 20	$438K	354
FY 21	$397K	552
FY 22	$482K	579
FY 23	$579K	512
FY 24	$673K	465