Repay Holdings ( (RPAY) ) has released its Q3 earnings. Here is a breakdown of the information Repay Holdings presented to its investors.
Repay Holdings Corporation is a leading provider of integrated payment solutions, specializing in both consumer and business payment processing, with a focus on delivering seamless and efficient electronic payment solutions across various strategic vertical markets.
In its latest earnings report for the third quarter of 2024, Repay Holdings has demonstrated continued financial growth and strategic advancements. The company reported a gross profit growth of 9% year-over-year, coupled with a significant increase in adjusted EBITDA and free cash flow conversion, highlighting its robust financial health and strategic execution.
Key highlights from the report include a 6% increase in revenue to $79.1 million from the previous year, with notable growth in its business payments segment, which saw a 67% rise in gross profit year-over-year. Additionally, Repay’s strategic expansion included the addition of three new integrated software partners and an increase in its AP supplier network by 42% year-over-year. The company also reported a remarkable 250% increase in free cash flow, amounting to $48.8 million.
Repay’s updated outlook for 2024 reflects confidence in its business strategy, projecting revenue between $314 million and $320 million and adjusted EBITDA of $139 million to $142 million. The company aims to achieve a free cash flow conversion rate of approximately 65%, driven by its focus on profitable growth and capital efficiency.
Looking ahead, Repay Holdings remains committed to enhancing its payment technology platform and forging new partnerships, with a strategic focus on capturing embedded payment flows and generating sustainable value for shareholders. The company is poised to leverage its diversified business model to drive continued growth and financial performance in the coming quarters.
