Repay Holdings Corp financial statements

Income statement, balance sheet and cash flow statement for the last 9 fiscal years, taken from the XBRL data Repay Holdings Corp files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2018	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	94	130	105	155	219	279	297	313	309
Cost of revenue				41.4	55.5	64.8	69.7	71.6	77.2
Gross profit				114	164	214	227	241	232
Selling, general and administrative	14.6	29.1	97	87.3	120	149	149	145	142
Operating expenses		1.15
Operating income	16.4	16.6	-48.2	-32	-54	-47.2	-111	-7.77	-255
Interest expense	4.4	5.5				4.38	3.87	7.87	13.9
Interest income		2.56				0.13	2.82	5.99	4.06
Other non-operating income	-6.94	-6.07		-97.7	-32.7	62.1	-8.12	-3.15	-22.2
Pre-tax income	9.45	10.5		-130	-86.7	14.9	-120	-10.9	-277
Income tax				-12.4	-30.7	6.17	-2.12	-0.58	-5.87
Net income to minority interests				-11.8	-5.95	-4.1	-6.93	-0.19	-14.4
Net income	9.45	10.5		-106	-50.1	12.8	-110	-10.2	-257
EBITDA	23.8	27	-18.2	28.8	35.7	60.6	-7.56	95.9	-153
EPS, basic		-0.14		-2.02	-0.60	0.14	-1.23	-0.11	-3.00
EPS, diluted		-0.14		-2.02	-0.60	0.12	-1.23	-0.11	-3.00
Shares, basic (weighted)		7.17		52,181	83,318	88,792	90,049	89,915	85,558
Shares, diluted (weighted)		7.17		52,181	83,318	110,672	90,049	89,915	85,558

Balance sheet

	FY2018	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	0.03	13.3	24.6	91.1	50	64.9	118	190	116
Receivables		5.98	14.1	21.3	33.2	33.5	36	33	33.2
Other current assets		0.82	4.63	6.93	12.4	18.2	15.2	17.1	18.6
Total current assets	0.03	20.1	43.9	119	95.7	117	181	275	197
Property, plant and equipment		1.25	1.61	1.63	3.8	4.38	3.13	2.38	1.24
Lease right-of-use assets				10.1	10.5	9.85	8.02	11.1	8.87
Goodwill	120	120	390	459	824	828	717	717	475
Intangible assets		68.2	312	369	578	501	447	389	330
Other non-current assets			0.56		2.5	2.5	2.5	2.5	4.79
Total assets	0.18	219	782	1,110	1,686	1,627	1,520	1,572	1,200
Accounts payable		2.91	9.59	11.9	20.1	21.8	22	28.9	25.2
Accrued liabilities		12.8	16	19.2	26.8	29	32.9	55.5	53
Short-term debt		4.9	5.5	6.76					146
Total current liabilities	0.16	20.6	52	65.4	92.3	82.1	57.5	102	241
Long-term debt		89.3	208	250	448	451	434	497	280
Lease liabilities				8.84	9.09	8.3	7.25	10.5	8.79
Other non-current liabilities		0.02	0.02	10.6	1.55	2.11	1.84	1.9	1.23
Total liabilities	0.16	110	362	554	773	699	689	799	718
Total debt		94.2	213	257	448	451	434	497	280
Paid-in capital	0.02	3.48	284	692	1,100	1,118	1,151	1,149	1,167
Retained earnings	-0.01	1.52	-70.3	-176	-226	-213	-324	-334	-591
Treasury stock						-10	-12.5	-53.8	-92
Other comprehensive income			0.31	-6.44	-0	-0	-0
Shareholders' equity	0.02	5	214	509	874	895	815	761	484
Minority interests			206	46.9	39	33.7	15.7	11.9	-2.65
Total equity	0.02	5	420	556	913	928	831	773	482
Total liabilities and equity	0.18	219	782	1,110	1,686	1,627	1,520	1,572	1,200

Cash flow statement

	FY2018	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	9.45	10.5		-117	-56	8.74	-117	-10.3	-271
Depreciation and amortization	7.46	10.4	30	60.8	89.7	108	104	104	102
Stock-based compensation	0.62	0.8		19.4	22.3	20.3	22.2	24.4	18.3
Deferred income tax				-12.4	-30.7	4.19	-3.59	-2.49	-6.37
Change in receivables	-1.05	-1.53		-2.89	-6.52	0.7	-3.99	3.07	-0.22
Change in payables		0.32
Cash from operations	21.1	24.2		28.5	53.3	74.2	104	150	91.1
Capital expenditures	-0.45	-0.91		-0.99	-2.86	-3.18	-0.73	-0.99	-0.29
Purchases of investments					-2.5
Cash from investing	-3.44	-5.8		-146	-397	-39.5	-24.1	-44.9	-42
Debt issued	58.9			60.4	460			288
Debt repaid	-50.9	-4.9		-6.71	-263		-20	-205	-72
Stock issued								0.4
Share buybacks				-1.42	-4.04	-2.66	-1.89
Cash from financing	-8.99	-8.21		186	314	-17.5	-28.9	-12.7	-130
Net change in cash	8.71	10.2		68.6	-30.2	17.2	50.6	92.6	-81.1
Free cash flow	20.7	23.3		27.5	50.5	71	103	149	90.8
Interest paid	5.47	5.67		11.5	1.14	1.54	1.02	4.84	9.15
Income taxes paid						0.03	1.33	2.81	1.76

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $3.79 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	73.5%	Gross profit / revenue.
Operating margin	-44.2%	Operating income / revenue.
EBITDA margin	-13.3%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-53.6%	Pre-tax income / revenue.
Net margin	-49.6%	Net income / revenue.
FCF margin	32.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	33.3%	Cash from operations / revenue.
Return on equity (ROE)	-35.4%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-10.4%	Net income / average total assets.
Return on invested capital (ROIC)	-16.9%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	45.7%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	5.8%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.7%	Capital expenditures / revenue.
D&A / revenue	30.9%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-1.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	3.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	14.8%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-3.9%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	2.7%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	15.4%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-259.1%	EBITDA vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-39.3%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	7.1%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	26.2%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-39.1%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	8.5%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	27.0%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-36.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-18.5%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-1.0%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-23.7%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-9.7%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	1.6%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-4.8%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-8.2%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	10.4%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.45x	Current assets / current liabilities.
Quick ratio	1.00x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.57x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.66x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	19.3%	Total debt / total assets.
Liabilities / assets	70.8%	Total liabilities / total assets.
Net debt	$226.3M	Total debt - cash - short-term investments. Negative means more cash than debt.
Interest coverage	-7.63x	Operating income / interest expense.
Working capital	$66.1M	Current assets - current liabilities.
Goodwill and intangibles / assets	75.4%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$739.8M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.21x	Revenue / average total assets.
Fixed asset turnover	89.8x	Revenue / average property, plant and equipment.
Inventory turnover	38.8x	Cost of revenue / average inventory.
Days inventory	9 days	365 x average inventory / cost of revenue.
Receivables turnover	5.29x	Revenue / average receivables.
Days sales outstanding	69 days	365 x average receivables / revenue.
Days payables	180 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	-101 days	Days inventory + days sales outstanding - days payables.
Capex / operating cash flow	2.2%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.00	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$0.00	Revenue / diluted weighted shares.
FCF per share	$0.00	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.00	Cash from operations / diluted weighted shares.
Book value per share	$0.01	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$0.01	Tangible book value / shares outstanding.
Cash per share	$0.00	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$340.6M	Share price x shares outstanding.
Enterprise value	$566.9M	Market cap + total debt - cash - short-term investments.
P/S	1.01x	Market cap / revenue.
P/B	0.72x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	3.09x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	3.02x	Market cap / cash from operations, when positive.
EV/Sales	1.68x	Enterprise value / revenue.
EV/FCF	5.15x	Enterprise value / free cash flow, when both are positive.
FCF yield	32.3%	Free cash flow / market cap.
Earnings yield	-49.2%	Net income / market cap (the inverse of P/E).

What was Repay Holdings Corp's revenue in fiscal 2025?

Repay Holdings Corp reported revenue of $309.3M for fiscal 2025, 1.2% lower than the year before.

Was Repay Holdings Corp profitable in fiscal 2025?

No. It reported a net loss of $256.7M.

How much free cash flow did Repay Holdings Corp generate in fiscal 2025?

Cash from operations of $91.1M minus capital expenditures of $286.0K left free cash flow of $90.8M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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