Business
REPAY Reports Second Quarter 2021 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 second quarter ended June 30, 2021.\n\n“We are proud to report another strong quarter, which included card payment volume and gross profit growth of 28% and 29% respectively, and we are seeing positive trends across all of our businesses,” said John Morris, CEO of REPAY. “We closed the acquisition of BillingTree in June and the integration is going very well. We also continue to make significant strides in building out our B2B business to capture more of the large and underpenetrated B2B payments market, with many recent exciting announcements, including our latest acquisition of Kontrol Payables.”\n\nThree Months Ended June 30, 2021 Highlights\n\n\nCard payment volume was $4.6 billion, an increase of 28% over the second quarter of 2020\n\n\nTotal revenue was $48.4 million, a 33% increase over the second quarter of 2020\n\n\nGross profit was $35.7 million, an increase of 29% over the second quarter of 2020\n\n\nNet loss was ($13.4) million, as compared to a net loss of ($83.2) million in the second quarter of 2020\n\n\nAdjusted EBITDA was $20.4 million, an increase of 26% over the second quarter of 2020\n\n\nAdjusted Net Income was $14.0 million, an increase of 26% over the second quarter of 2020\n\n\nAdjusted Net Income per share was $0.16\n\n\nGross 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.\n\n2021 Outlook Update\n\nREPAY now expects the following financial results for full year 2021 and replaces previously provided guidance. This updated outlook reflects the closing of the BillingTree acquisition, which occurred on June 15, 2021 (rather than the previously-estimated closing date of July 1, 2021), as well as the Kontrol Payables acquisition, which occurred on June 22, 2021.\n\n\n\n \n\n\n\nFull Year 2021 Outlook\n\n\n\n\n\n \n\n\n\nUpdated Guidance\n\n\n\n\n\nCard Payment Volume\n\n\n\n$20.3 - 20.8 billion\n\n\n\n\n\nTotal Revenue\n...