Q4 2025 Repay Holdings Corp Earnings Call Transcript
Key Points
- Repay Holdings Corp (RPAY) achieved 10% revenue growth and 9% gross profit growth on a normalized year-over-year basis in Q4 2025.
- The company reported strong adjusted EBITDA margins of 41% and a free cash flow conversion rate of 43%.
- RPAY increased its consumer software partnerships to 189, enhancing integrations for better client and consumer experiences.
- The business payment segment saw a significant increase with normalized revenue up 41% and gross profit up 73% year over year.
- RPAY's strategic focus on its core AP platform led to new client wins in healthcare and hospitality verticals, expanding its supplier network by over 65% year over year.
- The company reported a non-cash goodwill impairment charge of $138.9 million related to its consumer payment segment.
- Free cash flow was slightly below expectations due to quarterly timing of networking capital, which is not expected to reverse in Q1.
- RPAY's consumer payment segment experienced only moderate growth with revenue and gross profit increasing by 8% and 6% year over year, respectively.
- The company faces challenges in the mortgage sector, with longer-than-expected pull-through times affecting growth.
- RPAY's growth in the first quarter of 2026 is expected to be lower than the full-year outlook due to delayed client implementations.
Good afternoon. I'd like to welcome everyone to Repay's fourth-quarter 2025 earnings conference call. This call is being recorded today, March 9, 2026.
I'd like to turn the session over to Stewart Grisante, Head of Investor Relations at Repay. Stewart, you may begin.
Thank you. Good afternoon, and welcome to Repay's fourth-quarter 2025 earnings conference call. With us today are John Morris, Co-Founder and Chief Executive Officer; and Robert Houser, Chief Financial Officer.
During this call, we will be making forward-looking statements about our beliefs and estimates regarding future events and results. Those forward-looking statements are subject to risks and uncertainties, including those set forth in the SEC filings related to today's results and in our most recent Form 10-K. Actual results may differ materially from any forward-looking statements that we make today. Forward-looking statements speak only as of today, and we do not assume any obligation or intent to update
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