# Repay Holdings Corporation (RPAY)

> Source: Nexqual · https://nexqual.com/RPAY · data as of 2026-10-28 20:00 UTC · cite as "Nexqual, Repay Holdings Corporation (RPAY), nexqual.com/RPAY" · informational, not investment advice.

**Price:** USD 4.42 (+3.03% on the day) · last close of Oct 28, 2026; US market after hours, not a live price. Prev close 4.29 · day 4.19–4.45 · 52w 2.3–5.15 · market cap $390M · NCM

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $338M, net income -$167M (-49.6% margin), free cash flow $110M (SEC filings).
- Insider open-market sales, last ~7 months: 2 Form 4 filings, $198K; 0 not under a Rule 10b5-1 plan ($0K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.20 on a 1–5 scale) (5 analysts), mean target USD 6.85 (range 4.25–10).
- Total return with dividends: 1Y -8.9% vs S&P 500 +13.6%; 5Y -79.0% vs S&P 500 +79.8%.
- Next earnings: 2026-11-09, EPS estimate USD 0.24, revenue estimate $152M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $219M | $279M | $297M | $313M | $309M | $338M |
| Gross profit | $164M | $214M | $227M | $241M | $232M | — |
| Operating income | -$54.0M | -$47.2M | -$111M | -$7.8M | -$255M | -$149M |
| Net income | -$50.1M | $12.8M | -$110M | -$10.2M | -$257M | -$167M |
| EPS (diluted) | -$0.60 | $0.12 | -$1.23 | -$0.11 | -$3.00 | — |
| Free cash flow | $50.5M | $71.0M | $103M | $149M | $90.8M | $110M |
| Gross margin | 74.7% | 76.8% | 76.5% | 77.1% | 75.0% | — |
| Operating margin | -24.6% | -16.9% | -37.6% | -2.5% | -82.4% | -44.2% |
| Net margin | -22.8% | 4.6% | -37.2% | -3.2% | -83.0% | -49.6% |
| Revenue growth | +41.4% | +27.4% | +6.2% | +5.5% | -1.2% | — |
| Cash + short-term investments | $50.0M | $64.9M | $118M | $190M | $116M | — |
| Total debt | $448M | $451M | $434M | $497M | $427M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 1.1x · EV/Sales 3.1x · P/FCF 3.5x · P/B 0.8x · FCF yield 28.25% · Earnings yield -42.96% · Net debt $669M · EV $1.06B

## Insider sales (SEC Form 4, open-market, last ~7 months)
2 of 2 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-13…2026-10-15 | Dempsey Tyler B | General Counsel | 13,888 | $56K | 3.1% | Yes (adopted June 16, 2026) | Too little history (no open-market trades in 2024 or 2025) |
| 2026-09-17…2026-09-21 | Dempsey Tyler B | General Counsel | 36,112 | $142K | 7.4% | Yes (adopted June 16, 2026) | Too little history (no open-market trades in 2024 or 2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.20 on a 1–5 scale), 5 analysts; mean target USD 6.85 (low 4.25, high 10).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-16 | Canaccord Genuity | Maintained | Buy | $8 |
| 2026-08-19 | Canaccord Genuity | Maintained | Buy | $8 |
| 2026-07-15 | DA Davidson | Maintained | Buy | $6 |
| 2026-07-01 | DA Davidson | Maintained | Buy | $6 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-29) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -8.9% | -79.0% |
| S&P 500 (SPY) | +13.6% | +79.8% |
| Per year | -8.9% | -26.7% |
| Volatility (annualized) | 68.9% | 56.0% |
| Max drawdown | -50.5% (Oct 2025→Apr 2026) | -87.7% (Oct 2021→Mar 2026) |

## Peers (Software - Infrastructure)
PAY (Paymentus Holdings, Inc.) USD 31.62 -0.78% · BLSH (Bullish) USD 28.73 -0.73% · CORZ (Core Scientific, Inc.) USD 15 +5.15% · RELY (Remitly Global, Inc.) USD 24.27 +0.25% · BB (BlackBerry Limited) USD 9.4 -1.57% · TENB (Tenable Holdings, Inc.) USD 48.72 +0.14%

## More
Full page: https://nexqual.com/RPAY · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in RPAY's own 10-K filed 2026-03-09 (https://www.sec.gov/Archives/edgar/data/1720592/000119312526098518/rpay-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | GLOBAL PAYMENTS INC (GPN) | "When we facilitate a transaction as a merchant acquirer, we utilize third party processors primarily for authorization such as Global Payments, Inc. Under such processing arrangements, the third-party processors and vend…" |
| Supplier | Wex | "When we facilitate a client's payment to its suppliers or vendors, we typically utilize the services of third party program managers, such as Wex Inc., who have arrangements with banks to operate card issuance programs." |
| Partner | Visa (V) | "Our member bank partners sponsor our adherence to the rules and standards of the payment networks and enable us to route transactions under the sponsor banks' control and identification numbers (for example, known as BIN…" |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Consumer Payments | $93.7M | 93.1% | +33.0% |
| Business Payments | $14.5M | 14.4% | +32.3% |
| Total revenue | $100.7M | 100% | — |
The lines above cover 107.5% of total revenue.

## Company outlook (8-K filed 2026-08-10)

- "Outlook that includes KUBRA contributions Strong Execution towards Run-Rate Synergies ATLANTA, August 10, 2026 -- Repay Holdings Corporation (NASDAQ: RPAY) ("REPAY" or the "Company"), a leading provider of bill payment solutions, today reported financial results for its second quarter ended June 30, 2026."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.24 | $0.23 | +2.9% | $152.0M | 5 |
| Next quarter (ends 2026-12-31) | $0.26 | $0.25 | +5.4% | $157.8M | 5 |
| Current fiscal year (ends 2026-12-31) | $0.93 | $0.94 | -1.6% | $491.3M | 5 |
| Next fiscal year (ends 2027-12-31) | $1.06 | $1.11 | -4.5% | $626.9M | 4 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-12-18 (includes earnings 2026-11-09): ±33.1%; last 8 reports averaged ±6%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-12-18 | 51 | 92.8% | ±33.1% |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| Aug 10, 2026 | Quarter ended Jun 30, 2026 | $0.20 | $0.21 | Miss −4.8% | -6.3% |
| May 4, 2026 | Quarter ended Mar 31, 2026 | $0.22 | $0.21 | Beat +4.8% | -7.5% |
| Apr 27, 2026 | Quarter ended Mar 31, 2026 | $0.22 | $0.21 | Beat +4.8% | +10.9% |
| Mar 9, 2026 | Quarter ended Dec 31, 2025 | $0.19 | $0.21 | Miss −9.5% | +3.4% |
| Nov 10, 2025 | Quarter ended Sep 30, 2025 | $0.21 | $0.21 | In line | -0.3% |
| Aug 11, 2025 | — | — | — | — | +3.9% |
| May 12, 2025 | — | — | — | — | +0.3% |
| Mar 3, 2025 | — | — | — | — | -15.3% |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-08-17 | 8-K/A | Current report | https://www.sec.gov/Archives/edgar/data/1720592/000119312526354037/0001193125-26-354037-index.htm |
| 2026-08-14 | Schedule 13G | American Century Investment Management, Inc., American Century Companies, Inc.: 6.8% of shares, passive 5%+ holder | https://www.sec.gov/Archives/edgar/data/1720592/000005238826000300/0000052388-26-000300-index.htm |
| 2026-08-13 | Schedule 13G/A | AQR Capital Management, LLC, AQR Capital Management Holdings, LLC: 5.0% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1720592/000116755726000213/0001167557-26-000213-index.htm |
| 2026-08-10 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1720592/000119312526342440/0001193125-26-342440-index.htm |
| 2026-08-10 | 8-K | Quarterly results; Regulation FD disclosure | https://www.sec.gov/Archives/edgar/data/1720592/000119312526342425/0001193125-26-342425-index.htm |
| 2026-07-15 | Schedule 13D/A | BT Parent GP, LLC, Beckham Aggregator, L.P.: 9.4% of shares, 5%+ holder that may seek to influence the company (amended) | https://www.sec.gov/Archives/edgar/data/1720592/000121390026078374/0001213900-26-078374-index.htm |
| 2026-07-14 | 8-K | Entered a material agreement; Director or executive officer change, or pay arrangement; Regulation FD disclosure — “On July 13, 2026, Repay Holdings Corporation (the "Company") entered into a Cooperation Agreement (the "Cooperation Agreement") with PCP Managers II, L.P. Pursuant to the Cooperation Agreement, the Board of Directors of the Company (the "Board") (i) increased the size of the Board from six (6) to seven (7) members and (ii) appointed Zachary F. Sadek to the Board to fill the newly created vacancy resulting from the increase in the size of the Board, effective July 13, 2026, with an initial term expiring at the…” | https://www.sec.gov/Archives/edgar/data/1720592/000119312526303158/0001193125-26-303158-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.