Business
REPAY Reports Fourth Quarter and Full Year 2020 Financial Results
ATLANTA--(BUSINESS WIRE)-- Repay Holdings Corporation (NASDAQ: RPAY) (“REPAY” or the “Company”), a leading provider of vertically-integrated payment
About this update from Repay Holdings Corporation
[{"type":"text","content":" ATLANTA--(BUSINESS WIRE)--\nRepay Holdings Corporation (NASDAQ: RPAY) (“REPAY” or the “Company”), a leading provider of vertically-integrated payment solutions, today reported financial results for its fourth quarter and full year ended December 31, 2020.\n\n“The value proposition of our business and the strength of our organization were made even more evident in 2020. Compared to 2019, card payment volume and gross profit increased 42% and 44%, respectively. In addition, we completed three acquisitions in 2020, further solidifying our position in the B2B space and adding new verticals and partners to our platform,” said John Morris, CEO of REPAY. “We have started 2021 off strong, with ample liquidity to broaden our addressable market and solutions through strategic M&A. REPAY is well positioned to address the needs of businesses and consumers for more frictionless and electronic payments experiences.”\n\nThree Months Ended December 31, 2020 Highlights\n\n\nCard payment volume was $4.0 billion, an increase of 16% over the fourth quarter of 2019\n\n\nTotal revenue was $41.4 million, a 23% increase over the fourth quarter of 2019\n\n\nGross profit was $30.0 million, an increase of 23% over the fourth quarter of 2019\n\n\nPro forma net loss1 was $(0.8) million, as compared to pro forma net loss of $(7.5) million in the fourth quarter of 2019\n\n\nAdjusted EBITDA was $19.0 million, an increase of 29% over the fourth quarter of 2019\n\n\nAdjusted Net Income2 was $13.5 million, an increase of 10% over the fourth quarter of 2019\n\n\nAdjusted Net Income per share was $0.17\n\n\nTwelve Months Ended December 31, 2020 Highlights\n\n\nCard payment volume was $15.2 billion, an increase of 42% over the full year 2019\n\n\nTotal revenue was $155.0 million, a 48% increase over the full year 2019\n\n\nGross profit was $113.6 million, an increase of 44% over the full year 2019\n\n\nPro forma net loss1 was $(13.9) million, as compared to pro forma net loss of $(39.9) million in the full year 2019\n\n\nAdjusted EBITDA was $68.2 million, an increase of 41% over the full year 2019\n\n\nAdjusted Net Income2 was $43.7 million, an increase of 11% over the full year 2019\n\n\nAdjusted Net Income per share was $0.60\n\n\nGross profit represents total revenue less cost of services. Adjusted EBITDA, Adjusted Net Income, and Adjusted Net Income per share a...