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Repay Holdings Corporation provides integrated payment processing solutions for vertical markets with specialized transaction needs. The company’s proprietary platform supports electronic payment channels such as mobile app, text, interactive voice response, virtual terminal, hosted payment page and online customer portal, with activity reported across Consumer Payments and Business Payments.
REPAY news commonly covers quarterly results, adjusted EBITDA and free cash flow metrics, segment trends, enterprise client implementations, Digital Wallet capabilities and payment-channel adoption. Corporate updates also include governance matters such as stockholder rights, board responses to unsolicited proposals, executive leadership changes and capital-structure actions tied to its Class A common stock.
Repay Holdings Corporation (NASDAQ: RPAY) has released findings from a recent consumer survey revealing that many Americans are prioritizing payment options when selecting loan providers. Conducted by OnePoll in May 2022, the survey showed that 87% of respondents have multiple loans, with 60% paying off home loans. Notably, 65% of consumers favor loan providers based on their payment options. The study highlights a significant shift towards digital payments, with 73% preferring at least partial online payment. REPAY's technology aims to enhance payment flexibility and improve the consumer loan experience.
Repay Holdings Corporation (NASDAQ: RPAY) has been awarded the Supplier Horizon Award at Premier, Inc.'s 2022 Breakthroughs Conference. This accolade is given to Premier-contracted providers that excel in customer service, engagement, and cost reduction. REPAY's collaboration with Premier focuses on enhancing automation in accounts payable (AP) processes for healthcare providers, allowing them to optimize workflows and benefit from cash rebates via virtual card payments. This recognition underscores REPAY's dedication to client support and value creation.
Repay Holdings Corporation (NASDAQ: RPAY) has expanded its partnership with Hotel Investor Apps (HIA) to enhance accounts payable and accounts receivable payment automation capabilities. This integration enables HIA properties to streamline vendor payments, increasing efficiency and transparency while minimizing fraud risks. By utilizing REPAY's technology, businesses can significantly reduce costs associated with manual processes. REPAY aims to simplify transactions for clients, maximizing revenue and resource efficiency.
Repay Holdings Corporation (NASDAQ: RPAY) announced an integration with Megasys, enhancing payment solutions for lenders in the consumer finance sector. This partnership allows Megasys' customers to accept electronic payments via REPAY's omni-channel platform, streamlining loan repayments through ACH and card transactions. The integration promises improved cash flow management and more efficient workflows for lenders, aiming to enhance customer experience.
Corvia has announced a new partnership with Repay Holdings Corporation (NASDAQ: RPAY) as its payment processing partner. This collaboration aims to enhance merchant and partner servicing, crucial for Corvia's growth in traditional retail and specialty e-commerce segments. REPAY will provide customizable clearing and settlement solutions, allowing Corvia to optimize the payment experience for its customers. The executives express optimism about the potential of this long-term partnership to scale operations and improve service offerings.
Repay Holdings Corporation (NASDAQ: RPAY) has announced a share repurchase program, authorizing the buyback of up to $50 million of its Class A common stock. CFO Tim Murphy emphasized that this initiative reflects the Board's confidence in the company's valuation and its commitment to enhancing shareholder value. The repurchases will be at management's discretion, taking into account market conditions. The company aims to balance this program with its growth strategies, ensuring that it doesn't impede future expansion opportunities.
Repay Holdings Corporation (NASDAQ: RPAY) announced its participation in two upcoming investor conferences. On May 16, 2022, CEO John Morris and CFO Tim Murphy will engage in a fireside chat at the Barclays Emerging Payments & Fintech Forum at 12:40 PM ET. Subsequently, on June 7, 2022, they will participate in a fireside chat at the William Blair Growth Stock Conference in Chicago, IL, starting at 4:40 PM CT. Both discussions will be webcast live, with an archive available for 90 days.
Repay Holdings Corporation (NASDAQ: RPAY) announced strong financial results for Q1 2022, showcasing a 39% increase in card payment volume to $6.4 billion and a 42% rise in total revenue to $67.6 million compared to Q1 2021. Gross profit grew by 46% to $51 million, with net income of $12.9 million compared to a net loss of $18 million a year earlier. Adjusted EBITDA reached $29.3 million, up 43%. The company maintains its 2022 outlook, projecting card payment volume between $27-28 billion and total revenue of $296-306 million.
Payix, a REPAY company, has expanded its partnership with Nortridge Software to introduce eCash, a new online cash payment acceptance solution for lenders and borrowers. This innovative service allows borrowers to make cash payments at thousands of retail locations including convenience stores and pharmacies, streamlining the reconciliation process. The integration will enhance Nortridge's Loan Management System, improving payment acceptance and reporting capabilities. Both companies aim to enhance borrower experience and streamline loan repayment processes.
Repay Holdings Corporation (NASDAQ: RPAY) will hold a conference call on May 10, 2022, at 5:30 PM ET to discuss its first quarter 2022 financial results. The call will feature CEO John Morris and CFO Tim Murphy. A press release with the financial results will be issued after market close on the same day. Investors can access the call via the company's investor relations website or by phone. A recorded replay will be available shortly after the call, accessible until May 17, 2022.