Repay - Realtime Electronic Payments
Credit Card Processor
At REPAY, we are a family of highly motivated team players, and you can see it in our culture. We are proud to empower our employees, give back to our communities and have a little fun along the way.
A little more about Repay:
ATLANTA–(BUSINESS WIRE)–May 10, 2021– Repay Holdings Corporation (NASDAQ: RPAY) (“REPAY” or the “Company”), a leading provider of vertically-integrated payment solutions, today reported financial results for its first quarter ended March 31, 2021.
“We are pleased with our results in the first quarter, with card payment volume and gross profit growth of 20% and 22%, respectively. This was driven by strong results across all of our businesses,” said John Morris, CEO of REPAY. “We made solid progress against our key growth objectives in the quarter, by increasing the size of our direct sales force as well as integrating additional software partners and expanding our B2B supplier network. During the quarter we also strengthened our balance sheet, positioning us well for acquisition opportunities, including BillingTree which we announced today.”
Three Months Ended March 31, 2021 Highlights
- Card payment volume was $4.6 billion, an increase of 20% over the first quarter of 2020
- Total revenue was $47.5 million, a 20% increase over the first quarter of 2020
- Gross profit was $35.0 million, an increase of 22% over the first quarter of 2020
- Net loss was ($18.0) million, as compared to a net loss of ($13.2) million in the first quarter of 2020
- Adjusted EBITDA was $20.5 million, an increase of 18% over the first quarter of 2020
- Adjusted Net Income was $15.1 million, an increase of 22% over the first quarter of 2020
- Adjusted Net Income per share was $0.18
Gross profit represents total revenue less cost of services. Adjusted EBITDA, Adjusted Net Income, and Adjusted Net Income per share are non-GAAP financial measures. See “Non-GAAP Financial Measures” and the reconciliations of Adjusted EBITDA and Adjusted Net Income to their most comparable GAAP measures provided below for additional information.