Slide 1: Q4 2022 Earnings Supplement
March 2023 Q4 2022 Earnings Supplement Exhibit 99.2
Slide 2: Disclaimer
Disclaimer Repay Holdings Corporation (“REPAY” or the “Company”) is required to file annual, quarterly and current reports, proxy statements and other information with the Securities and Exchange Commission (“SEC”) Such filings, which you may obtain for free at the SEC’s website at http://www.sec.go
Slide 3: Financial Update & Outlook
1 Financial Update & Outlook
Slide 4: We remain positioned for another year of profitable growth in 2023
We remain positioned for another year of profitable growth in 2023 We will continue to take advantage of the many secular trends towards frictionless digital payments that have been, and will continue to be, a tailwind driving our business
Slide 5: FY 2022 Financial Highlights
FY 2022 Financial Highlights CARD PAYMENT VOLUME $25.6Bn (+25%) REVENUE ADJUSTED EBITDA(3) REPAY’s Unique Model Translates Into a Highly Attractive Financial Profile (Represents YoY Growth) $279.2MM (+27%) $214.4MM (+31%) (+12% organic)(2) $124.6MM (+34%) Gross profit represents revenue less costs o
Slide 6: Financial Update – Q4 2022
Card Payment Volume Gross Profit Adjusted EBITDA Financial Update – Q4 2022 ($MM) Take rate represents revenue / card payment volume Gross profit margin represents gross profit / revenue Adjusted EBITDA margin represents adjusted EBITDA / revenue 76% 80% % Margin (2) 45% 49% % Margin (3) 22% 29% 17%
Slide 7: Growth by Segment - FY 2022
Growth by Segment - FY 2022 ($MM) As of 12/31/2022 Organic GP growth is a non-GAAP financial measure. Consumer Payments Organic GP growth excludes incremental gross profit attributable to BillingTree and Payix in 2022. Business Payments Organic GP growth excludes the incremental gross profit attribu
Slide 8: Consumer Payments Results – FY 2022
Consumer Payments Results – FY 2022 ($MM) Key Business Highlights Strength across personal loans, auto loans, credit unions, mortgage servicing, and RCS Winning large enterprise customers who are adopting more payment channels and modalities ~13% y/y Organic Gross Profit growth GP Margins benefited
Slide 9: Business Payments Results – FY 2022
Strength across autos, property management, field services, and political media verticals Gross Profit growth led by software integrations leading to shorter sales cycles and partners consuming API capabilities Auto vertical grew >120% y/y GP Margins benefited from greater AP mix, increased TotalPay
Slide 10: Liquidity and leverage as of December 31, 2022
As of December 31, 2022 Completed the sale of Blue Cow on February 15, 2023 Paid down $20 million balance on revolver facility on February 28, 2023 PF Total Debt includes Total Debt as of December 31, 2022 and the Revolver Paydown on February 28, 2023 PF Cash Balance includes Cash on Hand, Blue Cow
Slide 11: FY 2023 Outlook
FY 2023 Outlook Note: REPAY does not provide quantitative reconciliation of forward-looking, non-GAAP financial measures such as forecasted Organic GP Growth, Normalized Organic GP Growth, and Adjusted EBITDA to the most directly comparable GAAP financial measure because it is difficult to reliably
Slide 12: FY 2023 Gross Profit Outlook Bridge
Blue Cow divestiture Existing Customer Growth (3) Political media impact $216 – $228 New Customer Growth (3) FY 2023 Gross Profit Outlook Bridge ($MM) Organic gross profit (or GP) growth is a non-GAAP financial measure that represents the percentage change in gross profit for a fiscal period over th
Slide 13: History of Sustained Growth Across All Key Metrics
History of Sustained Growth Across All Key Metrics… Revenue (1) Card Payment Volume Adjusted EBITDA(2) Gross Profit (1) (In $ Billions) (In $ Millions) (In $ Millions) (In $ Millions) 20% CAGR 23% CAGR 26% CAGR 28% CAGR Consolidated totals include the elimination of intersegment revenues Certain per
Slide 14: With Expanding Take Rates and Gross Profit Margins
…With Expanding Take Rates and Gross Profit Margins Gross Profit Margin Take Rate
Slide 15: Strategy & Business Updates
2 Strategy & Business Updates
Slide 16: Multiple Levers to Continue to Drive Growth
Acquire New Clients in Existing Verticals With Our Q4 2022 Performance We See Multiple Levers to Continue to Drive Growth Q4 2022 Gross Profit Growth 22% EXECUTE ON EXISTING BUSINESS BROADENING ADDRESSABLE MARKET AND SOLUTIONS REPAY’s leading platform & attractive market opportunity position it to b
Slide 17: Executing on Growth Plan
ADDED NEW CUSTOMERS VIA DIRECT SALESFORCE ACROSS ALL VERTICALS 240 SOFTWARE PARTNER RELATIONSHIPS(1), INCLUDING: As of December 31, 2022 Third-party research and management estimates as of 12/31/2022 PF to include Blue Cow cash proceeds of $38 million on February 15, 2023 and revolver paydown of $20
Slide 18: Ample Runway in Consumer Payments
TOTAL ADDRESSABLE MARKET(1) $1.8Tn VERTICAL END MARKETS 6 ANNUAL CARD PAYMENT VOLUME(2) ~$20.1Bn CLIENTS ~19,000 Evolving consumer preferences and technology are requiring clients to embrace payment digitization Third-party research and management estimates as of 12/31/22 Volume includes merchant ac
Slide 19: Offering Omnichannel Capabilities across Modalities
Offering Omnichannel Capabilities across Modalities Customers in REPAY’s verticals look to partner with innovative vendors that can provide evolving payment functionality and acceptance solutions Customers ISV partners personal Mortgages ARM Auto CU HC ISV INTERGRATION PARTNERS Credit and Debit Card
Slide 20: REPAY's Growing Business Payments Segment
REPAY’s Growing Business Payments Segment $1.2Tn total addressable market Integrations with leading ERP platforms, serving a highly diversified client base across a wide range of industry verticals Expanded into B2B vertical via APS acquisition Cross sell initiative happening within Sage and Acumati
Slide 21: Powerful Business Payments Offering
One-stop-shop B2B payments solutions provider REPRESENTATIVE CLIENTS Automated Reporting and Reconciliation Multiple Payment Options Including Virtual Card and Cross Border Vendor Management Customer Rebates Deep ERP Integrations Multiple Payment Methods Tracking and Reconciliation Highly Secure ACC
Slide 22: Appendix
2 3 Appendix
Slide 23: Q4 2022 Financial Update
Q4 2022 Financial Update SG&A includes expense associated with the change in fair value of tax receivable liability, change in fair value of contingent consideration, and other income / expenses See “Adjusted EBITDA Reconciliation” on slide 23 for reconciliation of Adjusted EBITDA to its most compar
Slide 24: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation For the three months ended December 31, 2022 and 2021, reflects amortization of client relationships, non-compete agreement, software, and channel relationship intangibles acquired through the business combination with Thunder Bridge, and client relationships, non-comp
Slide 25: Adjusted EBITDA Reconciliation (twelve months)
For the twelve months ended December 31, 2022 and 2021, reflects amortization of client relationships, non-compete agreement, software, and channel relationship intangibles acquired through the business combination with Thunder Bridge, and client relationships, non-compete agreement, and software in
Slide 26: Adjusted Net Income Reconciliation
Adjusted Net Income Reconciliation For the three months ended December 31, 2022 and 2021, reflects amortization of client relationships, non-compete agreement, software, and channel relationship intangibles acquired through the business combination with Thunder Bridge, and client relationships, non-
Slide 27: Adjusted Free Cash Flow Reconciliation
Adjusted Free Cash Flow Reconciliation Excludes acquisition costs that are capitalized as channel relationships. Primarily consists of (i) during the three months ended December 31, 2022, professional service fees and other costs incurred in connection with the acquisitions of BillingTree, Kontrol P
Slide 28: Depreciation and Amortization Detail
Depreciation and Amortization Detail Note: Adjusted Net Income is adjusted to exclude amortization of all acquisition-related intangibles as such amounts are inconsistent in amount and frequency and are significantly impacted by the timing and/or size of acquisitions (see corresponding adjustments i
Slide 29: Organic Gross Profit Reconciliation
2021 2022 Full Year $mm Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021 2022 Gross Profit Growth 22% 29% 69% 57% 46% 42% 20% 22% 44% 31% Growth from Acquisitions 11% 16% 54% 40% 41% 32% 5% 5% 30% 19% Organic Gross Profit Growth (1) 11% 13% 15% 17% 5% 10% 15% 17% 14% 12% Growth from political media 3% Organic GP Growth
Slide 30: Organic Gross Profit Segment Reconciliation
Full Year $mm 2022 Consumer Payments Gross Profit Growth 32% Growth from Acquisitions 19% Consumer Payments Organic Gross Profit Growth(1) 13% Business Payments Gross Profit Growth 28% Growth from Acquisitions 2% Business Payments Organic Gross Profit Growth(1) 26% Organic Gross Profit Segment Recon
Slide 31: Total Company Excluding Political Media Reconciliation
Full Year $mm 2022 Total Company Gross Profit Growth 31% Growth from Political Media 3% Total Company excl. Political Media Gross Profit Growth (1) 28% Total Company Excluding Political Media Reconciliation Total Company excl. political media represents total company minus the estimated contribution
Slide 32: Historical Segment Details
Historical Segment Details 2021 2022 Full Year ($MM) Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2021 2022 Consumer Payments $3,694.1 $3,523.4 $4,426.7 $4,465.7 $5,290.0 $4,918.3 $4,937.4 $5,008.9 $16,109.9 $20,154.7 Businss Payments 919.9 1,100.1 1,156.4 1,177.4 1,123.9 1,278.0 1,479.4 1,602.9 4,353.9 5,484.2 Card Pay