Repay (RPAY)
Market Price (7/10/2026): $4.055 | Market Cap: $334.6 MilSector: Information Technology | Industry: Systems Software
Repay (RPAY)
Market Price (7/10/2026): $4.055Market Cap: $334.6 MilSector: Information TechnologyIndustry: Systems Software
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 34%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 13% Attractive yieldFCF Yield is 12% Megatrend and thematic driversMegatrends include Fintech & Digital Payments, Cloud Computing, and E-commerce & Digital Retail. Themes include Digital Payments, Show more. | Weak multi-year price returns2Y Excs Rtn is -93%, 3Y Excs Rtn is -118% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -8.4 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -2.7% Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 106% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -81% Key risksRPAY key risks include [1] a high revenue concentration (approx. Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 34%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 13% |
| Attractive yieldFCF Yield is 12% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments, Cloud Computing, and E-commerce & Digital Retail. Themes include Digital Payments, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -93%, 3Y Excs Rtn is -118% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -8.4 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -2.7% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 106% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -81% |
| Key risksRPAY key risks include [1] a high revenue concentration (approx. Show more. |
Qualitative Assessment
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Repay (RPAY) stock has gained about 55% since 3/31/2026 because of the following key factors:
1. Successful Acquisition of KUBRA and Enhanced Financial Outlook.
REPAY announced the agreement to acquire KUBRA for $372 million on March 31, 2026, and completed the acquisition on June 1, 2026. This strategic move is expected to significantly expand REPAY's bill payment capabilities and addressable market. Post-acquisition, REPAY substantially raised its full-year 2026 guidance, now projecting revenue between $490 million and $500 million, and Adjusted EBITDA between $168.5 million and $176 million, including KUBRA's contribution. This represents a considerable increase from the prior 2026 Adjusted EBITDA outlook of $141 million to $146 million (excluding KUBRA).
2. Strong Fiscal Q1 2026 Performance and Increased Profitability Expectations.
REPAY reported robust financial results for fiscal Q1 2026 (ended March 31, 2026) on May 4, 2026. The company posted revenue of $80.8 million, representing 4% year-over-year growth, slightly exceeding analyst consensus estimates. Additionally, REPAY reported Q1 2026 Adjusted EBITDA of $34.4 million, achieving approximately 43% Adjusted EBITDA margins. Building on this strong performance, the company raised its full-year 2026 Adjusted EBITDA outlook to $141 million to $146 million, implying approximately 42% Adjusted EBITDA margins, even before factoring in the KUBRA acquisition.
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Repay (RPAY) stock has gained about 55% since 3/31/2026 because of the following key factors:
1. Successful Acquisition of KUBRA and Enhanced Financial Outlook.
REPAY announced the agreement to acquire KUBRA for $372 million on March 31, 2026, and completed the acquisition on June 1, 2026. This strategic move is expected to significantly expand REPAY's bill payment capabilities and addressable market. Post-acquisition, REPAY substantially raised its full-year 2026 guidance, now projecting revenue between $490 million and $500 million, and Adjusted EBITDA between $168.5 million and $176 million, including KUBRA's contribution. This represents a considerable increase from the prior 2026 Adjusted EBITDA outlook of $141 million to $146 million (excluding KUBRA).
2. Strong Fiscal Q1 2026 Performance and Increased Profitability Expectations.
REPAY reported robust financial results for fiscal Q1 2026 (ended March 31, 2026) on May 4, 2026. The company posted revenue of $80.8 million, representing 4% year-over-year growth, slightly exceeding analyst consensus estimates. Additionally, REPAY reported Q1 2026 Adjusted EBITDA of $34.4 million, achieving approximately 43% Adjusted EBITDA margins. Building on this strong performance, the company raised its full-year 2026 Adjusted EBITDA outlook to $141 million to $146 million, implying approximately 42% Adjusted EBITDA margins, even before factoring in the KUBRA acquisition.
3. Significant Insider Buying Activity and Acquisition Proposals.
During the period, Forager Fund, L.P., a significant shareholder, demonstrated strong confidence in REPAY by purchasing 2,506,548 shares for an estimated $6,647,869 within the last six months, exceeding the $5 million threshold. This insider buying activity coincided with Forager Capital Management submitting unsolicited, non-binding proposals to acquire all outstanding shares of REPAY. While an initial offer of $4.80 per share was rejected by the Board on May 4, 2026, as undervalued, a revised proposal of $5.25 per share was confirmed on June 29, 2026, and is under review.
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Stock Movement Drivers
Fundamental Drivers
The 56.2% change in RPAY stock from 3/31/2026 to 7/9/2026 was primarily driven by a 55.3% change in the company's P/S Multiple.| (LTM values as of) | 3312026 | 7092026 | Change |
|---|---|---|---|
| Stock Price ($) | 2.60 | 4.06 | 56.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 309 | 313 | 1.1% |
| P/S Multiple | 0.7 | 1.1 | 55.3% |
| Shares Outstanding (Mil) | 82 | 83 | -0.5% |
| Cumulative Contribution | 56.2% |
Market Drivers
3/31/2026 to 7/9/2026| Return | Correlation | |
|---|---|---|
| RPAY | 56.2% | |
| Market (SPY) | 15.6% | 31.8% |
| Sector (XLK) | 39.5% | 15.8% |
Fundamental Drivers
The 11.2% change in RPAY stock from 12/31/2025 to 7/9/2026 was primarily driven by a 9.8% change in the company's P/S Multiple.| (LTM values as of) | 12312025 | 7092026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.65 | 4.06 | 11.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 309 | 313 | 1.2% |
| P/S Multiple | 1.0 | 1.1 | 9.8% |
| Shares Outstanding (Mil) | 83 | 83 | 0.1% |
| Cumulative Contribution | 11.2% |
Market Drivers
12/31/2025 to 7/9/2026| Return | Correlation | |
|---|---|---|
| RPAY | 11.2% | |
| Market (SPY) | 10.5% | 24.4% |
| Sector (XLK) | 28.9% | 14.1% |
Fundamental Drivers
The -15.8% change in RPAY stock from 6/30/2025 to 7/9/2026 was primarily driven by a -22.7% change in the company's P/S Multiple.| (LTM values as of) | 6302025 | 7092026 | Change |
|---|---|---|---|
| Stock Price ($) | 4.82 | 4.06 | -15.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 310 | 313 | 1.0% |
| P/S Multiple | 1.4 | 1.1 | -22.7% |
| Shares Outstanding (Mil) | 89 | 83 | 7.9% |
| Cumulative Contribution | -15.8% |
Market Drivers
6/30/2025 to 7/9/2026| Return | Correlation | |
|---|---|---|
| RPAY | -15.8% | |
| Market (SPY) | 22.7% | 28.1% |
| Sector (XLK) | 47.0% | 17.5% |
Fundamental Drivers
The -48.1% change in RPAY stock from 6/30/2023 to 7/9/2026 was primarily driven by a -55.8% change in the company's P/S Multiple.| (LTM values as of) | 6302023 | 7092026 | Change |
|---|---|---|---|
| Stock Price ($) | 7.83 | 4.06 | -48.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 286 | 313 | 9.3% |
| P/S Multiple | 2.4 | 1.1 | -55.8% |
| Shares Outstanding (Mil) | 89 | 83 | 7.4% |
| Cumulative Contribution | -48.1% |
Market Drivers
6/30/2023 to 7/9/2026| Return | Correlation | |
|---|---|---|
| RPAY | -48.1% | |
| Market (SPY) | 75.6% | 36.2% |
| Sector (XLK) | 117.2% | 26.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| RPAY Return | -33% | -56% | 6% | -11% | -52% | 7% | -86% |
| Peers Return | 1% | -24% | 20% | 31% | -36% | -13% | -33% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 99% |
Monthly Win Rates [3] | |||||||
| RPAY Win Rate | 42% | 25% | 58% | 33% | 42% | 43% | |
| Peers Win Rate | 40% | 42% | 57% | 58% | 42% | 46% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 43% | |
Max Drawdowns [4] | |||||||
| RPAY Max Drawdown | -41% | -78% | -45% | -31% | -61% | -37% | |
| Peers Max Drawdown | -38% | -43% | -34% | -27% | -51% | -33% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: GPN, FISV, FOUR, BILL, ACIW.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/9/2026 (YTD)
How Low Can It Go
| Event | RPAY | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -28.3% | -9.5% |
| % Gain to Breakeven | 39.4% | 10.5% |
| Time to Breakeven | 49 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -40.4% | -6.7% |
| % Gain to Breakeven | 67.8% | 7.1% |
| Time to Breakeven | 304 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -41.5% | -33.7% |
| % Gain to Breakeven | 70.9% | 50.9% |
| Time to Breakeven | 53 days | 140 days |
In The Past
Repay's stock fell -28.3% during the Summer-Fall 2023 Five Percent Yield Shock. Such a loss loss requires a 39.4% gain to breakeven.
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| Event | RPAY | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -28.3% | -9.5% |
| % Gain to Breakeven | 39.4% | 10.5% |
| Time to Breakeven | 49 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -40.4% | -6.7% |
| % Gain to Breakeven | 67.8% | 7.1% |
| Time to Breakeven | 304 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -41.5% | -33.7% |
| % Gain to Breakeven | 70.9% | 50.9% |
| Time to Breakeven | 53 days | 140 days |
In The Past
Repay's stock fell -28.3% during the Summer-Fall 2023 Five Percent Yield Shock. Such a loss loss requires a 39.4% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Repay (RPAY)
Repay Holdings Corporation (RPAY) is a payment processing company that delivers integrated solutions designed to facilitate electronic payments for both consumers and businesses. The company focuses on specific industry verticals, aiming to streamline and modernize payment collection and disbursement processes for its clients.
Repay's core offerings encompass a wide array of electronic payment methods. These include the processing of credit and debit card transactions, virtual credit cards, and various types of Automated Clearing House (ACH) payments, such as enhanced ACH and instant funding. These solutions are accessible through multiple proprietary channels, including web platforms, mobile applications, text-to-pay services, interactive voice response (IVR) systems, and traditional point-of-sale (POS) terminals.
The company primarily serves customers within specialized markets, with a strong focus on verticals such as personal loans, automotive loans, and receivables management. Additionally, Repay provides its payment processing expertise to the business-to-business (B2B) sector. Repay distributes its services through direct sales efforts and strategic partnerships with software integrators, embedding its payment capabilities into its clients' operational ecosystems.
```AI Analysis | Feedback
Here are a few analogies for Repay (RPAY):
- Like Stripe or Square, but specifically for businesses in industries like personal loans, automotive loans, and B2B.
- Think of it as PayPal's payment processing capabilities, but deeply integrated into the software systems of companies in the lending and B2B sectors.
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- Credit and Debit Processing: Solutions for processing payments made using traditional credit and debit cards.
- Virtual Credit Card Processing: Services for handling payments executed through virtual credit card numbers.
- Automated Clearing House (ACH) Processing: Facilitates electronic funds transfers directly between bank accounts.
- Enhanced ACH Processing: An advanced form of Automated Clearing House processing with potentially added features or capabilities.
- Instant Funding: Solutions designed to enable immediate disbursement of funds to recipients.
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- Personal loans
- Automotive loans
- Receivables management
- Business-to-business (B2B)
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- Visa Inc. (V)
- Mastercard Incorporated (MA)
- Discover Financial Services (DFS)
- American Express Company (AXP)
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John Morris, Chief Executive Officer and Co-Founder
John Morris co-founded REPAY in 2006 and oversees the company's overall strategic and financial direction. Prior to REPAY, he co-founded and served as President of Security Check Atlanta, a check verification and payment processor, which was sold in 2008. He also held corporate finance positions at Bass Hotels and Resorts. REPAY received a significant private equity investment from Corsair Capital in 2016, and private equity recapitalizations before 2019 provided partial liquidity for the founders.
Robert Houser, Chief Financial Officer
Robert Houser joined REPAY as Chief Financial Officer in 2025, overseeing the company's financial and strategy functions. He brings over a decade of divisional CFO and operational experience within the payment industry. Prior to joining REPAY, Mr. Houser served as Group CFO and Advisor at Conduent Incorporated, and previously as Conduent's Global Head of Strategy, Corporate Development and Advisor to CEO. Before Conduent, he spent seven years at Fiserv, Inc., holding positions as Senior Vice President, General Manager, and CFO across multiple divisions. He began his career as an auditor for KPMG LLP.
David Guthrie, Chief Technology Officer
David Guthrie serves as REPAY's Chief Technology Officer, overseeing the company's technology vision and strategy. He joined REPAY from Sharecare, where he was Chief Information Officer and Chief Information Security Officer. Previously, he held leadership roles with various private and public companies, including Chief Technology Officer of MedCast/WebMD, which was sold to WebMD for $250 million. He was also Chief Technology Officer of PGi, which was sold in 2015 for over $1 billion. Mr. Guthrie was a partner at Fuqua Ventures, investing in early-stage technology and life science companies. He also co-founded ISSI, a custom software development firm, and later sold his portion of the company.
Darin Horrocks, Executive Vice President, Business Payments
Darin Horrocks oversees REPAY's business payments strategy. Prior to joining REPAY, Mr. Horrocks founded cPayPlus, a business focused on simplifying vendor and supplier payments. cPayPlus was acquired by REPAY in July 2021 and forms the foundation for REPAY's AP automation solution. Before founding cPayPlus, he held transformative roles in the corporate payments industry at Comdata, American Express, and GE Capital.
Naomi Barnett, Executive Vice President, Human Resources
Naomi Barnett provides strategic HR leadership and alignment for REPAY's people management strategy. Before joining REPAY, Ms. Barnett held various positions as the Head of Human Resources for fast-growing, pre- and post-IPO businesses at Patriot National, Inc., an insurance technology company, and Gold Star Mortgage Financial Group.
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The key risks to Repay Holdings Corporation (RPAY) primarily revolve around the dynamic and highly regulated nature of the payment processing industry, intense market competition, and operational dependencies.
- Regulatory and Legal Environment: Repay operates within a complex and evolving regulatory landscape in the payments industry, facing inherent uncertainties and potential new requirements. The company may be required to obtain additional licenses, such as state money transmission licenses, which could constrain or complicate its operational activities in various markets. Furthermore, Repay has experienced, and may continue to encounter, litigation and regulatory investigations, which could result in significant costs and reputational damage.
- Intense Competition and Technology Adaptation: The payment processing industry is characterized by significant competition and rapid technological advancements. Repay's ability to maintain and grow its business depends on its capacity to innovate and keep pace with these changes, as well as shifts in the vertical markets it serves. Failure to adapt to new technologies or to successfully compete could lead to a decline in revenue and market share. Additionally, if the adoption of electronic payments in their target vertical markets slows or if there are adverse trends in the broader electronic payment industry, Repay's business and financial performance could be negatively impacted.
- Reliance on Third-Party Providers and Network Fee Pressures: Repay's operations heavily depend on various third-party service and technology providers. Any failure or discontinuation of services from these critical partners could disrupt Repay's ability to deliver its services to clients. Moreover, Repay is exposed to pressures from interchange and payment network fees. An inability to pass on increases in these fees to its clients could materially and adversely affect the company's operating results and overall financial condition.
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The clear emerging threat for Repay (RPAY) is the accelerating trend of vertical SaaS (Software as a Service) platforms and other industry-specific software providers integrating payment processing directly into their core offerings. This shift, often referred to as embedded finance, could allow Repay's "software integration partners" or the underlying platforms in its target markets (personal loans, automotive loans, receivables management, and business-to-business) to become payment facilitators themselves. By offering native payment solutions, these platforms could reduce their reliance on third-party processors like Repay, potentially disintermediating Repay from its direct merchant relationships and increasing competitive pressure by commoditizing payment services as a feature within broader software ecosystems.
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Repay (RPAY) operates in the integrated payment processing solutions market, serving various industry verticals primarily in the United States and Canada.
Addressable Market Sizes:
- Global Payment Processing Solutions Market: The global payment processing solutions market was valued at approximately $66.8 billion in 2024 and is projected to grow to around $198.9 billion by 2034, at a compound annual growth rate (CAGR) of 11.7% from 2025 to 2034. North America accounted for approximately 35% of this market in 2024.
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Business-to-Business (B2B) Payments Transaction Market: Repay has a significant presence in the B2B payments sector. The global B2B payments transaction market size was approximately $1.58 trillion in 2024 and is expected to exceed $3.79 trillion by 2034, growing at a CAGR of 9.14% from 2025 to 2034.
In North America, the B2B payments transaction market surpassed $660 billion in 2024 and is projected to grow at a CAGR of 9.20% during the forecast period.
Specifically, for the U.S., the B2B payments transaction market size was estimated at $460 billion in 2024 and is projected to reach approximately $1,160 billion by 2034, with a CAGR of 9.69% from 2025 to 2034. - Personal Loans, Automotive Loans, and Receivables Management Verticals (Payment Processing): Specific addressable market sizes for payment processing within the individual personal loans, automotive loans, and receivables management verticals were not explicitly available in the provided information. Repay's Consumer Payments segment serves these markets, alongside credit unions, mortgage servicing, and consumer healthcare. Repay holds an estimated 5-7% market share within its core verticals of automotive lending and receivables management in North America as of mid-2025.
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Here are the expected drivers of future revenue growth for Repay (RPAY) over the next 2-3 years:
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Expansion of the Business Payments Segment and Supplier Network: Repay anticipates significant growth from its Business Payments segment, driven by continued expansion of its supplier network and new client acquisitions in verticals such as healthcare and hospitality. In Q4 2025, the business payments segment showed a 41% normalized revenue increase and a 73% rise in gross profit, largely due to adding over 240,000 suppliers during 2025, bringing the total to 602,000 suppliers and 105 software partners.
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Growth in Software Partnerships and Deeper Integrations: The company is focused on enhancing its existing integrations and expanding its network of software partners across both consumer and business payment segments. Repay increased its consumer software partnerships to 189 and is continuously improving integrations to provide better client and consumer experiences. A new integration with Emotive software for the automotive finance sector was also highlighted.
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Product Innovation and Modernization Initiatives: Repay is investing in new product development and modernization efforts, including the application of artificial intelligence (AI) and automation. Key initiatives include AI assist for client onboarding, AI middleware for tech migrations, and the upcoming rollout of "Repay Voice," an interactive voice response (IVR) product expected in 2026 to enhance customer experience and operational efficiency. Furthermore, modernization efforts encompass expanded enhanced Automated Clearing House (ACH) offerings, instant funding capabilities, and increased TotalPay adoption.
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Organic Growth from Existing and New Clients: Repay's growth strategy is built on securing new clients and increasing transaction volumes with existing ones. The company's 2026 outlook projects sustained growth from both new and established clients leveraging its platform. Repay is making incremental investments in its sales, implementation, and client service teams to support these future growth initiatives, with management noting gaining momentum in bookings.
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Leveraging the Secular Digital Payments Tailwind: Repay expects to benefit from the broader industry trend of increasing adoption of digital payments. This secular shift provides a favorable market environment for the company's integrated payment processing solutions, supporting its long-term revenue growth algorithm.
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Share Repurchases
- In May 2022, Repay's Board of Directors authorized a share repurchase program to purchase up to $50 million of the company's Class A common stock.
- The share repurchase program was increased to an authorization of up to $75 million in May 2025.
- As of May 2025, approximately $61.2 million in capacity remained for share repurchases under the increased program.
- In July 2024, approximately $40.0 million from the offering of 2029 Notes was used to repurchase around 3.9 million shares of Class A common stock.
Share Issuance
- Repay issued $228 million in newly issued shares of Class A common stock to the seller as part of the approximately $503 million acquisition of BillingTree in May 2021.
- Approximately 10,051,302 shares of Class A common stock were issued as part of the consideration for the acquisition of Electronic Payment Providers, Inc. in June 2021.
Outbound Investments
- Repay acquired BillingTree, an integrated payments provider, for approximately $503 million in May 2021.
- In June 2021, Repay acquired Kontrol Payables, an accounts payable automation solutions provider, for up to $11 million, with $8 million paid at closing.
- Repay acquired Payix, a payment processing solution for lenders and auto dealers, in January 2022 for $95 million.
Capital Expenditures
- Capital expenditures are a component in the calculation of Free Cash Flow, which is defined as net cash flow provided by operating activities less total capital expenditures.
- Repay may incur additional borrowings for general corporate purposes, including working capital and capital expenditures.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Repay Earnings Notes | 12/16/2025 | |
| Would You Still Hold Repay Stock If It Fell Another 30%? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 50.47 |
| Mkt Cap | 4.9 |
| Rev LTM | 3,122 |
| Op Inc LTM | 347 |
| FCF LTM | 359 |
| FCF 3Y Avg | 299 |
| CFO LTM | 530 |
| CFO 3Y Avg | 425 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 9.8% |
| Rev Chg 3Y Avg | 7.0% |
| Rev Chg Q | 10.7% |
| QoQ Delta Rev Chg LTM | 2.4% |
| Op Inc Chg LTM | -1.3% |
| Op Inc Chg 3Y Avg | 35.3% |
| Op Mgn LTM | 10.2% |
| Op Mgn 3Y Avg | 12.9% |
| QoQ Delta Op Mgn LTM | -0.1% |
| CFO/Rev LTM | 22.4% |
| CFO/Rev 3Y Avg | 26.0% |
| FCF/Rev LTM | 13.9% |
| FCF/Rev 3Y Avg | 19.3% |
Price Behavior
| Market Price | $4.06 | |
| Market Cap ($ Bil) | 0.3 | |
| First Trading Date | 07/17/2018 | |
| Distance from 52W High | -31.9% | |
| 50 Days | 200 Days | |
| DMA Price | $3.64 | $3.66 |
| DMA Trend | down | up |
| Distance from DMA | 11.7% | 11.0% |
| 3M | 1YR | |
| Volatility | 95.6% | 71.5% |
| Downside Capture | 109.93 | 203.98 |
| Upside Capture | 205.57 | 131.69 |
| Correlation (SPY) | 26.7% | 27.9% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.14 | 1.19 | 1.06 | 1.44 | 1.58 | 1.32 |
| Up Beta | 4.57 | 2.56 | 0.63 | 0.52 | 0.99 | 1.05 |
| Down Beta | 1.98 | 1.78 | 1.42 | 1.60 | 1.96 | 1.52 |
| Up Capture | 226% | 82% | 139% | 193% | 151% | 128% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 8 | 21 | 34 | 62 | 122 | 363 |
| Down Capture | 103% | 27% | 79% | 148% | 148% | 110% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 12 | 18 | 27 | 59 | 122 | 372 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with RPAY | |
|---|---|---|---|---|
| RPAY | -19.4% | 71.4% | -0.01 | - |
| Sector ETF (XLK) | 45.4% | 24.3% | 1.49 | 17.5% |
| Equity (SPY) | 22.3% | 12.5% | 1.33 | 28.2% |
| Gold (GLD) | 24.4% | 27.8% | 0.77 | 1.2% |
| Commodities (DBC) | 23.6% | 18.7% | 1.00 | -14.3% |
| Real Estate (VNQ) | 13.2% | 13.9% | 0.65 | 18.0% |
| Bitcoin (BTCUSD) | -42.8% | 42.8% | -1.18 | 17.7% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with RPAY | |
|---|---|---|---|---|
| RPAY | -29.9% | 60.5% | -0.36 | - |
| Sector ETF (XLK) | 21.1% | 25.5% | 0.74 | 38.0% |
| Equity (SPY) | 13.4% | 17.1% | 0.61 | 44.5% |
| Gold (GLD) | 18.0% | 18.3% | 0.80 | 3.3% |
| Commodities (DBC) | 7.5% | 19.5% | 0.28 | 4.8% |
| Real Estate (VNQ) | 2.9% | 18.9% | 0.06 | 37.4% |
| Bitcoin (BTCUSD) | 12.3% | 53.5% | 0.42 | 21.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with RPAY | |
|---|---|---|---|---|
| RPAY | -8.1% | 54.8% | 0.02 | - |
| Sector ETF (XLK) | 25.6% | 24.7% | 0.93 | 41.1% |
| Equity (SPY) | 15.8% | 17.9% | 0.75 | 45.4% |
| Gold (GLD) | 11.7% | 16.1% | 0.59 | 5.7% |
| Commodities (DBC) | 6.1% | 18.0% | 0.27 | 11.1% |
| Real Estate (VNQ) | 5.2% | 20.7% | 0.22 | 38.9% |
| Bitcoin (BTCUSD) | 58.0% | 66.2% | 0.98 | 19.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 6/15/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/4/2026 | -10.8% | -16.2% | -8.8% |
| 3/9/2026 | 8.2% | -5.3% | -3.2% |
| 11/10/2025 | 1.3% | -10.2% | -7.2% |
| 8/11/2025 | -0.2% | 3.2% | 5.6% |
| 5/12/2025 | -2.2% | 2.0% | 27.5% |
| 3/3/2025 | -14.2% | -19.2% | -20.8% |
| 11/12/2024 | -1.4% | -10.2% | -7.3% |
| 8/8/2024 | -10.1% | -8.9% | -12.1% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 11 | 10 | 12 |
| # Negative | 13 | 14 | 12 |
| Median Positive | 8.8% | 9.4% | 9.3% |
| Median Negative | -5.7% | -9.3% | -8.0% |
| Max Positive | 50.7% | 86.5% | 85.4% |
| Max Negative | -20.8% | -19.2% | -28.6% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/4/2026 | -10.8% | -16.2% | -8.8% |
| 3/9/2026 | 8.2% | -5.3% | -3.2% |
| 11/10/2025 | 1.3% | -10.2% | -7.2% |
| 8/11/2025 | -0.2% | 3.2% | 5.6% |
| 5/12/2025 | -2.2% | 2.0% | 27.5% |
| 3/3/2025 | -14.2% | -19.2% | -20.8% |
| 11/12/2024 | -1.4% | -10.2% | -7.3% |
| 8/8/2024 | -10.1% | -8.9% | -12.1% |
| 5/9/2024 | -2.4% | -4.6% | 1.1% |
| 2/29/2024 | 13.8% | 10.1% | 24.1% |
| 11/9/2023 | 4.4% | 16.0% | 22.9% |
| 8/9/2023 | 8.8% | 7.5% | 0.7% |
| 5/10/2023 | 5.2% | 10.3% | 12.9% |
| 3/1/2023 | -4.6% | -3.0% | -24.4% |
| 11/9/2022 | 50.7% | 86.5% | 85.4% |
| 8/9/2022 | -20.8% | -17.2% | -28.6% |
| 5/10/2022 | -17.2% | -9.8% | 2.2% |
| 3/1/2022 | 9.1% | -5.0% | -3.1% |
| 11/9/2021 | 13.4% | 13.1% | 0.9% |
| 8/9/2021 | -5.7% | -8.5% | -6.0% |
| 5/10/2021 | 4.7% | 8.6% | 14.0% |
| 3/1/2021 | 10.5% | 0.6% | 1.9% |
| 11/9/2020 | -11.6% | -14.2% | -9.8% |
| 8/10/2020 | -0.2% | -2.9% | -2.4% |
| SUMMARY STATS | |||
| # Positive | 11 | 10 | 12 |
| # Negative | 13 | 14 | 12 |
| Median Positive | 8.8% | 9.4% | 9.3% |
| Median Negative | -5.7% | -9.3% | -8.0% |
| Max Positive | 50.7% | 86.5% | 85.4% |
| Max Negative | -20.8% | -19.2% | -28.6% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/04/2026 | 10-Q |
| 12/31/2025 | 03/09/2026 | 10-K |
| 09/30/2025 | 11/10/2025 | 10-Q |
| 06/30/2025 | 08/11/2025 | 10-Q |
| 03/31/2025 | 05/12/2025 | 10-Q |
| 12/31/2024 | 03/03/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/04/2026 | 10-Q |
| 12/31/2025 | 03/09/2026 | 10-K |
| 09/30/2025 | 11/10/2025 | 10-Q |
| 06/30/2025 | 08/11/2025 | 10-Q |
| 03/31/2025 | 05/12/2025 | 10-Q |
| 12/31/2024 | 03/03/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 02/29/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/09/2023 | 10-Q |
| 03/31/2023 | 05/10/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 11/09/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| 12/31/2021 | 03/01/2022 | 10-K |
| 09/30/2021 | 11/09/2021 | 10-Q |
| 06/30/2021 | 08/09/2021 | 10-Q |
| 03/31/2021 | 05/10/2021 | 10-Q |
| 12/31/2020 | 03/01/2021 | 10-K |
| 09/30/2020 | 11/10/2020 | 10-Q |
| 06/30/2020 | 08/10/2020 | 10-Q |
| 03/31/2020 | 05/11/2020 | 10-Q |
| 12/31/2019 | 03/16/2020 | 10-K |
| 09/30/2019 | 11/14/2019 | 10-Q |
| 06/30/2019 | 07/10/2019 | 10-Q |
Recent Forward Guidance
Updated 7/8/2026Latest: Q1 2026 Earnings Reported 5/4/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 340.00 Mil | 343.00 Mil | 346.00 Mil | 0 | Affirmed | Guidance: 343.00 Mil for 2026 | |
| 2026 Adjusted EBITDA | 141.00 Mil | 143.50 Mil | 146.00 Mil | 3.2% | Raised | Guidance: 139.00 Mil for 2026 | |
| 2026 Free Cash Flow Conversion | 0.45 | 0 | Affirmed | Guidance: 0.45 for 2026 | |||
| 2026 Adjusted EBITDA Margin | 42.0% | ||||||
Prior: Q4 2025 Earnings Reported 3/9/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 340.00 Mil | 343.00 Mil | 346.00 Mil | ||||
| 2026 Revenue Growth | 10.0% | 11.0% | 12.0% | ||||
| 2026 Adjusted EBITDA | 136.50 Mil | 139.00 Mil | 141.50 Mil | ||||
| 2026 Free Cash Flow Conversion | 0.45 | ||||||
Insider Activity
Updated 6/12/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Forager, Fund, LP | Direct | Buy | 4092026 | 2.68 | 78,991 | 211,696 | 29,765,817 | Form | |
| 2 | Forager, Fund, LP | Direct | Buy | 4092026 | 2.57 | 484,720 | 1,245,730 | 28,341,078 | Form | |
| 3 | Forager, Fund, LP | Direct | Buy | 4092026 | 2.42 | 350,000 | 847,000 | 25,513,908 | Form | |
| 4 | Forager, Fund, LP | Direct | Buy | 4032026 | 2.53 | 461,609 | 1,167,871 | 25,788,131 | Form | |
| 5 | Forager, Fund, LP | Direct | Buy | 4032026 | 2.54 | 488,391 | 1,240,513 | 24,717,573 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Forager, Fund, LP | Direct | Buy | 4092026 | 2.68 | 78,991 | 211,696 | 29,765,817 | Form | |
| 2 | Forager, Fund, LP | Direct | Buy | 4092026 | 2.57 | 484,720 | 1,245,730 | 28,341,078 | Form | |
| 3 | Forager, Fund, LP | Direct | Buy | 4092026 | 2.42 | 350,000 | 847,000 | 25,513,908 | Form | |
| 4 | Forager, Fund, LP | Direct | Buy | 4032026 | 2.53 | 461,609 | 1,167,871 | 25,788,131 | Form | |
| 5 | Forager, Fund, LP | Direct | Buy | 4032026 | 2.54 | 488,391 | 1,240,513 | 24,717,573 | Form | |
| 6 | Forager, Fund, LP | Direct | Buy | 3272026 | 3.05 | 180,858 | 551,617 | 28,190,958 | Form | |
| 7 | Forager, Fund, LP | Direct | Buy | 3272026 | 3.04 | 287,200 | 873,088 | 27,548,720 | Form | |
| 8 | Forager, Fund, LP | Direct | Buy | 3272026 | 2.92 | 174,779 | 510,355 | 25,622,647 | Form | |
| 9 | Thornburgh, Richard E | Direct | Sell | 11192025 | 3.50 | 4,500 | 15,750 | 460,096 | Form | |
| 10 | Moore, Jacob Hamilton | Executive Vice President | Direct | Sell | 9162025 | 5.89 | 26,385 | 155,408 | 1,139,903 | Form |
Industry Resources
| Information Technology Resources |
| TechCrunch |
| Wired |
| CIO |
| MIT Technology Review |
| Gartner Insights |
| Ars Technica |
| Systems Software Resources |
| CNET |
| ZDNet |
| Gartner |
| Software Development Times |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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