Repay Holdings Reports $80.8M Revenue with Increased Net Loss in Q1 2026

Repay Holdings Corporation reported a revenue of $80.8 million for the first quarter of 2026, marking a 4.5% increase from $77.3 million in the same period of the previous year. The growth was attributed to the addition of new clients and increased transaction volumes from existing clients. However, the company experienced a net loss of $10.0 million, compared to a loss of $8.2 million in the prior year, reflecting a 25.2% increase in losses. The loss per Class A share was $(0.12), up from $(0.09) in the first quarter of 2025.

Operating expenses totaled $80.8 million, slightly down from $80.9 million year-over-year. Costs of services rose to $19.3 million, a 3.2% increase, while selling, general, and administrative expenses decreased by 2.7% to $36.0 million. The company also reported a significant increase in interest expense, which rose to $3.8 million from $3.1 million, primarily due to higher outstanding debt levels. The change in the fair value of the tax receivable liability also contributed to the increased net loss, with a loss of $4.6 million reported for the quarter.

In terms of strategic developments, Repay Holdings announced the acquisition of KUBRA Holdings, Inc. for approximately $372 million, which is expected to close in the second quarter of 2026, pending regulatory approvals. The company plans to finance this acquisition through a combination of cash on hand and a proposed term loan facility. Additionally, on March 27, 2026, Repay completed an asset purchase agreement for $22.5 million, acquiring customer relationships and contracts, which is expected to enhance its service offerings.

Operationally, the company reported a total of 89.7 million shares of Class A common stock outstanding as of April 29, 2026. The company’s cash and cash equivalents decreased to $43.8 million from $115.7 million at the end of 2025, while total assets fell to $1.14 billion from $1.20 billion. The company’s total liabilities also decreased to $665.5 million from $718.0 million, primarily due to the repayment of long-term debt.

Looking ahead, Repay Holdings remains focused on integrating its recent acquisitions and expanding its market presence. The company anticipates that the KUBRA acquisition will enhance its capabilities in payment processing solutions, particularly in vertical markets. However, management acknowledged potential risks associated with the acquisition, including integration challenges and market conditions that could impact future performance. The company expects that its current cash flow, along with available borrowing capacity, will be sufficient to support its operations and strategic initiatives over the next twelve months.