Repay Holdings Corporation reported a total revenue of $313.0 million for the fiscal year ending December 31, 2024, marking a 5.5% increase from $296.6 million in 2023. The growth was attributed to the acquisition of new clients, expansion of existing client relationships, and increased political media spending related to the 2024 election cycle. Despite the revenue increase, the company experienced a net loss of $10.3 million, an improvement from a loss of $117.4 million in the previous year, primarily due to cost-saving initiatives and organic growth.
Operating expenses for the year totaled $320.8 million, a decrease from $408.0 million in 2023. This reduction was largely driven by a significant impairment loss of $75.8 million recognized in 2023, which was not repeated in 2024. Selling, general, and administrative expenses also saw a slight decline, falling to $145.5 million from $148.7 million, reflecting a decrease in transaction-related expenses. The company’s chargeback rate remained low at under 1% of payment volume, indicating effective risk management practices.
Repay Holdings continues to focus on strategic growth through its two reportable segments: Consumer Payments and Business Payments. The Consumer Payments segment generated $281.0 million in revenue, while the Business Payments segment saw a substantial increase of 39.1%, reaching $52.9 million. The company maintained approximately 280 integrations with various software providers, enhancing its ability to deliver tailored payment solutions across its target verticals, which include personal loans, automotive loans, and receivables management.
Looking ahead, Repay Holdings aims to leverage its proprietary payment technology platform to further penetrate existing markets and explore new verticals. The company has expressed confidence in its growth strategy, which includes potential acquisitions and continued innovation in payment solutions. As of December 31, 2024, Repay Holdings had $189.5 million in cash and cash equivalents, along with a $250.0 million revolving credit facility, providing a solid financial foundation to support its operational and strategic initiatives.
About Repay Holdings Corp
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