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Organizational Structure and Corporate Information Repay Holdings Corporation was incorporated as a Delaware corporation on July 11, 2019 in connection with the closing of a transaction (the Business Combination ) pursuant to which Thunder Bridge Acquisition Ltd., a special purpose acquisition company organized under the laws of the Cayman Islands ( Thunder Bridge ), (a) domesticated into a Del…
The business is unprofitable at the operating level (-82.36% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 1.2% YoY. Margins deteriorated 79.9pp alongside, both lines moving the wrong way.
Free cash flow declined 39% versus the prior year, cash generation momentum has weakened. ROIC dropped from -0.49% to -18.37%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$313M
▼ -1.2% YoY
Net Income (TTM)
-$259M
▼ -2427.8% YoY
Op. Margin
-80.30%
▼ -79.9pp YoY
ROIC
-19.86%
▼ -17.9pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$105M
▼ -39.1% YoY
Op. Cash Flow (TTM)
$105M
▼ -39.3% YoY
Net Debt
$357M
Cash & Equiv.
$44M
5Y CAGR: +14.8%
5Y CAGR: +27.0%
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