Welcome to our dedicated page for Repay Holdings Corporation news (Ticker: RPAY), a resource for investors and traders seeking the latest updates and insights on Repay Holdings Corporation stock.
Repay Holdings Corporation Class A Common Stock (symbol: RPAY), established in 2006, is a full-service provider of electronic transaction processing services tailored for retail merchants. The company offers a comprehensive suite of solutions, including credit and debit card processing, gift cards, ACH, bank account verification, electronic bill payment, and instant funding. Repay currently supports over 5,000 merchant locations across various product lines.
Repay’s management team has demonstrated consistent success since the company’s inception, focusing on key areas such as sales, risk mitigation, merchant support, and the effective use of its proprietary software platform. This strategic approach has positioned Repay as one of the fastest-growing companies in the United States, earning it the #330 spot on the Inc. 500 list in 2012.
The company is engaged in providing integrated payment processing solutions to a range of verticals with transaction processing needs. Repay's services enable customers to make payments via multiple channels, including Mobile App, Text, Interactive Voice Response, Virtual Terminal, Hosted Payment Page, and Online Customer Portal. The company's operations are divided into two segments: Consumer Payments and Business Payments.
Repay continues to expand its footprint through strategic partnerships, innovative projects, and cutting-edge technology. The company is committed to delivering exceptional service and support to its clients, ensuring seamless and secure payment processing. With a robust financial condition and a forward-looking approach, Repay Holdings Corporation is well-positioned to maintain its growth trajectory and continue providing valuable services to its growing customer base.
Repay Holdings (NASDAQ: RPAY) reported its Q3 2024 financial results, highlighting a 9% YoY gross profit growth and 8% YTD growth (9% YTD on an organic basis). Revenue for Q3 2024 was $79.1 million, a 6% increase YoY. The company achieved a 115% increase in net cash provided by operating activities and a 250% increase in free cash flow compared to the previous quarter. Adjusted EBITDA grew by 10% YoY to $35.1 million.
Business Payments segment showed a substantial 67% YoY and 33% YTD gross profit growth, while Consumer Payments segment grew by 2% YoY and 6% YTD. REPAY added three new integrated software partners and 13 new credit unions. The company updated its 2024 outlook, projecting revenue between $314-$320 million, gross profit between $245-$250 million, and adjusted EBITDA between $139-$142 million, with a free cash flow conversion target of approximately 65%.
REPAY (NASDAQ: RPAY) has announced its participation in three upcoming investor conferences. The company's CEO John Morris and CFO Tim Murphy will attend: the Keefe, Bruyette, & Woods FinTech Conference in New York on November 14, 2024, for investor meetings; the Stephens Investment Conference in Nashville on November 20, 2024, with a fireside chat at 11:00am ET; and the UBS Global Technology Conference in Scottsdale on December 4, 2024, with a fireside chat at 2:15pm ET.
The fireside chats will be webcast live on REPAY's investor relations website and archived for 90 days.
Repay Holdings (NASDAQ: RPAY) has scheduled its third quarter 2024 financial results announcement for Tuesday, November 12, 2024. The company will release its financial results after market close, followed by a conference call at 5:00pm ET. The call will be accessible via webcast from the company's investor relations website and through phone dial-in. A replay will be available until November 26, 2024, and the webcast will be archived on the company's website.
REPAY (NASDAQ: RPAY) has announced an embedded integration with Otelier, a hospitality software and performance optimization platform. This integration enhances Otelier's DigiPay capabilities by incorporating REPAY's vendor payment automation, creating a comprehensive solution for hotel operators to manage invoices and execute vendor payments efficiently.
The partnership aims to streamline hotel operations by offering a single platform for automating vendor payments and managing invoices. Key features include virtual cards and ACH options for faster, more secure payments, and end-to-end payment process automation. This integration is designed to reduce time spent on back-office AP operations, allowing hoteliers to focus more on providing exceptional hospitality.
Repay Holdings (NASDAQ: RPAY), a leading provider of payment solutions, reported its Q2 2024 financial results.
Key financial highlights include: 4% revenue growth to $74.9 million and 7% gross profit growth to $58.6 million year-over-year (YoY). The company achieved a 21% reduction in net loss to $4.2 million and a 10% increase in adjusted EBITDA to $33.7 million. Net cash provided by operating activities increased by 55% to $31.0 million, and free cash flow surged by 93% to $19.3 million.
Business highlights: Consumer Payments and Business Payments segments saw respective gross profit growths of 7% and 11% YoY. Significant milestones include expanding the AP supplier network by 55% YoY to over 300,000 and adding 7 new software partners.
Balance Sheet: Issued $287.5 million 2029 notes at 2.875%, repurchased $220 million of 2026 notes, and bought back 3.9 million shares for $40 million.
Outlook 2024: Reiterates revenue between $314-320 million and adjusted EBITDA between $139-142 million.
Repay Holdings (NASDAQ: RPAY), a prominent provider of integrated payment processing solutions, has announced its participation in the Wells Fargo Annual FinTech, Information & Business Services Forum.
The event will take place in Newport, RI, on Wednesday, August 21, 2024. Alex Cohen, EVP of Corporate Strategy & Development, and Stewart Grisante, Head of Investor Relations, will represent REPAY and host investor meetings.
Interested parties are encouraged to contact the Wells Fargo conference team to schedule meetings.
Repay Holdings (NASDAQ: RPAY), a leading provider of integrated payment processing solutions, has announced that it will host a conference call to discuss its second quarter 2024 financial results on Thursday, August 8, 2024, at 5:00pm ET. The company will issue a press release with the financial results after the market closes on the same day.
Investors can access the conference call through a live webcast on REPAY's investor relations website or by dialing in. A replay of the call will be available until August 22, 2024, and an archive of the webcast will be accessible on the company's website shortly after the call concludes.
REPAY announces a technology integration with ICE Mortgage Technology to enable debit card acceptance for mortgage payments through Servicing Digital™. This integration aims to provide faster, more secure payment options for borrowers, enhancing the overall experience and operational efficiency for mortgage servicers.
Key benefits include:
- Immediate fund transfer and real-time payment confirmation
- Improved ability to manage finances during month-end and grace periods
- Enhanced resolution of collection accounts
- Reduced need for slower payment methods like wires or overnight payments
- Minimized risk of late fees
- Compliance with PCI DSS standards
This integration is expected to strengthen relationships between mortgage servicers and their customers by offering more convenient payment options.
Repay Holdings (NASDAQ: RPAY) has announced the successful closing of a $250 million senior secured revolving credit facility. This new facility replaces and expands the previous $185 million facility, remaining undrawn. John Morris, Co-founder and CEO, emphasized that the new credit facility, along with the recently completed convertible notes offering, will provide financial flexibility for continued focus on profitable growth and cash generation. Truist Securities, Inc. acted as the lead arranger, and Truist Bank will serve as the administrative agent for this facility.
Repay Holdings (NASDAQ: RPAY) announced the successful closing of its $287.5 million offering of 2.875% convertible senior notes due 2029. This includes a $27.5 million option exercised by the initial purchasers. The proceeds will address $220 million of the company's 2026 maturities, fund capped call transactions, and repurchase 3.9 million shares, aiming to minimize shareholder dilution. The initial conversion price is approximately $13.02 per share, with a capped call price at $20.42. The interest rate is 2.875% per annum, payable semiannually, starting January 15, 2025.
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