Repay Holdings Corporation (RPAY) Reports Q2 EPS of $0.14; Provides FY20 Revenue Mid-Point Below Consensus

Repay Holdings Corporation (NASDAQ: RPAY) reported Q2 EPS of $0.14. Revenue for the quarter came in at $36.5 million versus the consensus estimate of $36.62 million.

“As the world continues to evolve throughout this pandemic, the value proposition of our business has become even more evident as digital payment solutions have proven increasingly necessary. This is reflected in our second quarter results, which show growth in card payment volume and gross profit of 63% and 63%, respectively, compared to the second quarter of 2019. We also reported organic gross profit growth of 21%, compared to the second quarter of 2019,” said John Morris, CEO of REPAY. “This pandemic has augmented the unprecedented demand for comprehensive, technology-first B2B automation and payment solutions. We are thrilled to have recently completed the acquisition of cPayPlus to further address these highly attractive and unique market opportunities.”

Three Months Ended June 30, 2020 Highlights

• Card payment volume was $3.6 billion, an increase of 63% over the second quarter of 2019
• Total revenue was $36.5 million, a 68% increase over the second quarter of 2019
• Gross profit was $27.8 million, an increase of 63% over the second quarter of 2019
• Pro forma net income1 was ($8.4) million, as compared to net income of $4.2 million in the second quarter 2019
• Adjusted EBITDA was $16.2 million, an increase of 55% over the second quarter of 2019
• Adjusted Net Income was $9.9 million, an increase of 27% over the second quarter of 2019
• Adjusted Net Income per share was $0.14

GUIDANCE:

Repay Holdings Corporation sees FY2020 revenue of $145-155 million, versus the consensus of $154.89 million.

For earnings history and earnings-related data on Repay Holdings Corporation (RPAY) click here.

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