Repay Holdings Corp RPAY
Repay Holdings Corporation was incorporated as a Delaware corporation on July 11, 2019 in connection with the closing of a transaction (the "Business Combination") pursuant to which Thunder Bridge Acquisition Ltd., a special purpose acquisition company organized under the laws of the Cayman Islands ("Thunder Bridge"), (a) domesticated into a Delaware corporation and changed its name to "Repay Holdings Corporation" and (b) consummated the merger of a wholly owned subsidiary with and into Hawk Parent Holdings, LLC, a Delaware limited liability company ("Hawk Parent").
Unless otherwise noted or unless the context otherwise requires, the terms "we", "us", "Repay" and the "Company" and similar references refer (1) before the Business Combination, to Hawk Parent and its consolidated subsidiaries and (2) from and after the Business Combination, to Repay Holdings Corporation and its consolidated subsidiaries. Unless otherwise noted or unless the context otherwise requires, "Thunder Bridge" refers to Thunder Bridge Acquisition. Ltd. prior to the consummation of the Business Combination.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $309.3M | $313.0M | $296.6M | $279.2M | $219.3M | $155.0M | $104.6M | $130.0M | $94.0M |
| Cost of revenue | $77.2M | $71.6M | $69.7M | $64.8M | $55.5M | $41.4M | — | — | — |
| Gross profit | $232.0M | $241.4M | $226.9M | $214.4M | $163.8M | $113.6M | — | — | — |
| SG&A | $142.0M | $145.5M | $148.7M | $149.1M | $120.1M | $87.3M | $97.0M | $29.1M | $14.6M |
| Total operating expenses | $564.0M | $320.8M | $408.0M | $326.4M | $273.3M | $187.0M | $152.8M | $113.4M | $77.6M |
| Operating income | -$254.7M | -$7.8M | -$111.4M | -$47.2M | -$54.0M | -$32.0M | -$48.2M | $16.6M | $16.4M |
| Interest expense | $13.9M | $7.9M | $3.9M | $4.4M | — | — | — | — | — |
| Pre-tax income | -$277.0M | -$10.9M | -$119.5M | $14.9M | -$86.7M | -$129.7M | — | $10.5M | $9.4M |
| Income tax | $5.9M | $575.0K | $2.1M | $6.2M | $30.7M | $12.4M | — | — | — |
| Net income | -$271.1M | -$10.3M | -$117.4M | $8.7M | -$56.0M | -$105.6M | — | $10.5M | $9.4M |
| EPS, basic | -3.00 | -0.11 | -1.23 | 0.14 | -0.60 | -2.02 | — | — | — |
| EPS, diluted | -3.00 | -0.11 | -1.23 | 0.12 | -0.60 | -2.02 | — | -0.14 | — |
| Shares, diluted (wtd. avg.) | $85.56B | $89.92B | $90.05B | $110.67B | $83.32B | $52.18B | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $115.7M | $189.5M | $118.1M | $64.9M | $50.0M | $91.1M | $24.6M | $13.3M | $25.8K |
| Receivables | $33.2M | $33.0M | $36.0M | $33.5M | $33.2M | $21.3M | $14.1M | $6.0M | — |
| Total current assets | $196.8M | $275.2M | $180.6M | $116.7M | $95.7M | $119.4M | $43.9M | $20.1M | $25.8K |
| Property, plant and equipment | $1.2M | $2.4M | $3.1M | $4.4M | $3.8M | $1.6M | $1.6M | $1.2M | — |
| Goodwill | $474.5M | $716.8M | $716.8M | $827.8M | $824.1M | $459.0M | $119.5M | $119.5M | $119.5M |
| Other intangibles | $329.8M | $389.0M | $447.1M | $500.6M | $577.7M | $369.2M | $311.8M | $68.2M | — |
| Total assets | $1.20B | $1.57B | $1.52B | $1.63B | $1.69B | $1.11B | $782.0M | $219.1M | $176.3K |
| Accounts payable | $25.2M | $28.9M | $22.0M | $21.8M | $20.1M | $11.9M | $9.6M | $2.9M | — |
| Short-term debt | $146.5M | — | — | — | — | $6.8M | $5.5M | $4.9M | — |
| Total current liabilities | $240.6M | $102.2M | $57.5M | $82.1M | $92.3M | $65.4M | $52.0M | $20.6M | $156.6K |
| Long-term debt | $280.1M | $496.8M | $434.2M | $451.3M | $448.5M | $250.0M | $207.9M | $89.3M | — |
| Total liabilities | $718.0M | $798.7M | $689.0M | $698.5M | $772.8M | $553.8M | $362.3M | $110.0M | $156.6K |
| Retained earnings | -$590.5M | -$333.8M | -$323.7M | -$213.2M | -$226.0M | -$175.9M | -$70.3M | $1.5M | -$5.3K |
| Total equity | $484.4M | $761.3M | $830.8M | $928.3M | $913.0M | $556.2M | $419.7M | $5.0M | $19.7K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $91.1M | $150.1M | $103.6M | $74.2M | $53.3M | $28.5M | — | $24.2M | $21.1M |
| Depreciation and amortisation | $1.2M | $1.7M | $2.4M | $2.4M | $1.3M | $1.2M | — | $400.0K | $200.0K |
| Stock-based compensation | $18.3M | $24.4M | $22.2M | $20.3M | $22.3M | $19.4M | — | $797.0K | $622.4K |
| Capital expenditure | $286.0K | $989.0K | $733.0K | $3.2M | $2.9M | $994.0K | — | $913.5K | $448.6K |
| Investing cash flow | -$42.0M | -$44.9M | -$24.1M | -$39.5M | -$397.3M | -$146.0M | — | -$5.8M | -$3.4M |
| Financing cash flow | -$130.2M | -$12.7M | -$28.9M | -$17.5M | $313.8M | $186.1M | — | -$8.2M | -$9.0M |
| Buybacks | $38.5M | $41.5M | $2.5M | $2.7M | $4.0M | $1.4M | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-215760.
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