Paymentus Holdings, Inc. · NYSE:PAY
Paymentus — Q4 2025 Earnings Presentation
29 slides from Paymentus's earnings presentation, Feb 23, 2026
Slide 1: Powering the Next Generation of Bill Payments
Powering the Next Generation of Bill Payments MARCH 2026 NYSE: PAY
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this presentation are forward-looking statements. In some cases, you can identify forward
Slide 3: About Us
About Us We simplify how bills are paid…. By equipping businesses, banks and partners with a unified and comprehensive bill presentment and payment platform that integrates with the existing ERP, digital banking and customer information systems to modernize user experiences and optimize payment oper
Slide 4: Paymentus By The Numbers – FY 2025
Paymentus By The Numbers – FY 2025 Tremendous Strong, Profitable Financial Profile Scale $1.2 B $386 M $321 M $137 M Revenue Contribution Adjusted Gross Adjusted 724 M Profit1 Profit1 EBITDA 1 Transactions Processed 37% 24% 24% 36% 2025 Revenue Contribution Adjusted Gross Adjusted Growth Profit Grow
Slide 5: Focus on Profitable Growth
Focus on Profitable Growth Gross Revenue ($ Millions) Contribution Profit1 ($ Millions) $1,600 $1,400 $1,197 $420 $386 $1,200 $370 $1,000 $312 $872 $320 $800 $270 $241 $614 $600 $497 $220 $201 $396 $400 $170 $158 $200 $120 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 (1) Non-GAAP financial meas
Slide 6: Focus on Profitable Growth (cont’d)
Focus on Profitable Growth (cont’d) Adjusted EBITDA1 ($ Millions) Free Cash Flow1 ($ Millions) $160 $145 $137 $140 $125 $125 $120 $105 $94 $100 $85 $80 $60 $65 $58 $40 $35 $27 $45 $20 $30 $29 $25 $- 2021 2022 2023 2024 2025 $(20) 2021 2022 2023 2024 2025 $(1) $(11) (1) Non-GAAP financial measures: F
Slide 7: Focus on Profitable Growth (cont’d)
Focus on Profitable Growth (cont’d) Rule of 401 60 59 65 55 50 44 45 41 35 25 15 2021 2022 2023 2024 2025 Contribution Profit Growth Adjusted EBITDA Margin (1) We define Rule of 40 as the combination of Contribution Profit growth rate and Adjusted EBITDA margin, approximated to nearest percentage.
Slide 8: Massive Market Opportunity
Massive Market Opportunity 16.8B 1 # of bills paid annually in the United States Paymentus Market Share Of U.S. Bill Payment Market (%) 4.3% U.S. Bill Pay Remaining # of bills paid annually on Addressable Market Paymentus platform (2025) # of bills paid annually in the 724M United States through non
Slide 9: What We Do: Modernize & Simplify How Bills are Paid
What We Do: Modernize & Simplify How Bills are Paid We modernize bill pay for over 2,500 businesses through a fully unified, integrated and advanced platform that is proven to: • Improve customer satisfaction scores after implementing our platform • Reduce operational expenses and cost to serve thro
Slide 10: Built on an Integrated, Modern Technology Stack
Built on an Integrated, Modern Technology Stack Powered by a significant and BILLER PARTNER CONSUMER broad library of integrations built APIs iFrame Fully Hosted over 10 years Single Point of Access CIS Systems Engagement Presentment Empowerment Payment Intelligence ERP Systems Smart notifications I
Slide 11: Delivering Intelligent Interactions and Simplified Payments for All
Delivering Intelligent Interactions and Simplified Payments for All For Businesses: Improved For Consumers: More Ways to Interact, View Bills and Make and Receive Payments Operations And Reduced Costs to Serve Multidimensional Interactions Channels & Payments Hub Users get complete picture in real-t
Slide 12: Platform Highlights
Platform Highlights Tremendous Unified & Modern Widely Patented & Highly Maximum Scale Architecture Integrated Proprietary Configurable Flexibility Architected for SaaS-based, multi- Bi-directional, real- From Secure Advanced Entire omni- maximum uptime tenant platform is time connectivity Service t
Slide 13: Business Highlights
Business Highlights The #1 Electronic Trusted By In Major Electronic Bill Payment Platform1 Leading Businesses Payment Verticals Independently rated as industry’s Trusted by over 25 Fortune 500 Differentiated solutions that solve top electronic bill presentment companies to modernize vertically-spec
Slide 14: Modernizing Payment Ecosystem Case Study: Large Insurance Company
Modernizing Payment Ecosystem Case Study: Large Insurance Company Paymentus Ecosystem Modernization • Eliminated disparate systems and deployed single payment hub across divisions • Deployed MDM data warehousing solution • Data migration of > 20M policyholders • Developed hybrid connectivity model f
Slide 15: Cost to Serve Case Study: Fortune 500 Electric & Gas Utility
Cost to Serve Case Study: Fortune 500 Electric & Gas Utility Benefits Realized After Paymentus was selected to help this electric and gas utility Implementing modernize bill payment experiences and reduce cost to serve Paymentus • Project Objective • This utility won CS Week’s Top Award For Digital
Slide 16: We Are At The Center of Modern Bill Pay
We Are At The Center of Modern Bill Pay Paymentus connects consumers, businesses and our strategic Partners seek to drive consumer partners through a unified engagement by offering bill pay in customer engagement, bill their product suites. presentment and payment platform. Banks Strategic Partners
Slide 17: Multiple Growth Drivers
Multiple Growth Drivers Direct - Channel Same Store SMBs Banks Industries Partners Sales Growth through our Referrals through Configurations that Continued bank bill pay Activating adoption proven direct sales existing strategic enable small businesses modernization through optimization features eng
Slide 18: Key Growth Driver: The Instant Payment Network
FINTECH APPS CREDIT Key Growth Driver: The Instant Payment Network UNIONS BANKS The Instant Payment Network (IPN) is a foundational component of Paymentus’ differentiated payment ecosystem. Through IPN, billers can present bills electronically and capture payments with real-time data exchange and po
Slide 19: Banks – A Multifaceted Growth Opportunity
Banks – A Multifaceted Growth Opportunity Billers Resellers IPN Partners • Credit cards Substantial opportunity Strategic partners to • Mortgages leverage their treasury Direct integration with Paymentus for Paymentus to drive relationships to offer • Auto Paymentus biller to enable consumers to pay
Slide 20: Why Customers and Partners Select Us
Why Customers and Partners Select Us Broad Scope Served Modern, cloud-based platform with a single code base and no versioning that uniquely serves almost any business size, business vertical, B2C, B2B, pay-out, biller direct and bank bill pay use case Comprehensive and One integration to Paymentus
Slide 21: Straightforward Revenue Model
Straightforward Revenue Model Number of Transactions Fee per Transaction Transaction Drivers (1) Convenience Fee • Grow Existing Billers and • Fee is paid by the consumer – the Partners biller passes through the charge • Win New Billers and Partners • Paymentus pays interchange fee • Expand the IPN
Slide 22: Founder-Led, Visionary Management Team
Founder-Led, Visionary Management Team Dushyant Sharma Sanjay Kalra Jerry Portocalis Andrew Gerber Founder, CEO CFO Chief Commercial General Counsel Officer
Slide 23: Paymentus – Simplifying Electronic Bill Payment
Paymentus – Simplifying Electronic Bill Payment Strategy Built on a Cloud-based 1 Tech Stack to Empower Billers 2 Next-Gen Platform and IPN 3 Massive Market Opportunity Diversified and Growing Biller and 4 Financial Institution Base Founder-Led, Visionary and 5 Seasoned Management Team
Slide 24: Appendix
Appendix Paymentus
Slide 25: Use and Definitions of Non-GAAP Measures
EARNINGS REPORT Use and Definitions of Non-GAAP Measures In addition to disclosing financial measures in accordance with accounting principles generally accepted in the United States, or GAAP, this presentation contains certain non-GAAP financial measures set forth below. We use non- GAAP measures t
Slide 26: Contribution Profit and Adjusted Gross Profit
Contribution Profit and Adjusted Gross Profit Year Ended December 31, 2025 2024 2023 2022 2021 Gross profit $ 296,342 $ 238,170 $ 182,342 $ 149,678 $ 121,380 Plus: other cost of revenue 89,967 73,898 58,606 51,622 37,098 Contribution profit $ 386,309 $ 312,068 $ 240,948 $ 201,300 $ 158,478 Year Ende
Slide 27: Adjusted EBITDA and Adjusted EBITDA Margin
Adjusted EBITDA and Adjusted EBITDA Margin Year Ended December 31, 2025 2024 2023 2022 2021 Net income (loss) — GAAP $ 66,937 $ 44,169 $ 22,322 $ (513) $ 9,300 Interest (income) expense, net (9,506) (8,742) (7,019) (1,663) 6 Other (income) expense, non-recurring - (213) - 769 2,711 Provision for (be
Slide 28: Free Cash Flow
Free Cash Flow Year Ended December 31, 2025 2024 2023 2022 2021 Net cash provided by operating activities $ 162,127 $ 63,634 $ 68,828 $ 19,867 $ 19,493 Purchases of property and equipment (361) (457) (600) (1,257) (979) Capitalized internal-use software development costs (36,737) (36,119) (33,699) (
Slide 29: Thank You
THANK YOU @PAYMENTUSCORP PAYMENTUS PAYMENTUS PAYMENTUSCORPORATION @PAYMENTUSCORPORATION