Business
REPAY Reports Third 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 third quarter ended September 30, 2021.\n\n“We have continued to experience incredible growth in the third quarter, with card payment volume and gross profit up 48% and 69%, respectively,” said John Morris, CEO of REPAY. “We've made significant strides in driving organic growth and profitability, while broadening our addressable market and solutions. In our fast growing B2B business we have over 80 software integrations, and on the AP side we've grown our supplier network to over 105,000. We’ve also added many key partnerships over the last few months that should help to further accelerate our B2B business. Additionally, we remain excited about our diversified platform, and see strength across all of our other businesses. We look forward to continuing this solid momentum as we move into 2022,” said John Morris, CEO of REPAY.\n\nThree Months Ended September 30, 2021 Highlights\n\n\nCard payment volume was $5.6 billion, an increase of 48% over the third quarter of 2020\n\n\nTotal revenue was $61.1 million, a 62% increase over the third quarter of 2020\n\n\nGross profit was $45.8 million, an increase of 69% over the third quarter of 2020\n\n\nNet loss was ($7.1) million, as compared to a net loss of ($12.1) million in the third quarter of 2020\n\n\nAdjusted EBITDA was $27.0 million, an increase of 73% over the third quarter of 2020\n\n\nAdjusted Net Income was $19.0 million, an increase of 77% over the third quarter of 2020\n\n\nAdjusted Net Income per share was $0.21\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.\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\n\n\n$216 - 222 million...