Repay Holdings Q3 revenue up 97%, slightly beats estimates
RPAY•Repay Holdings’ third-quarter revenue rose 97% year over year to $153.4 million, slightly above estimates, while adjusted EBITDA of $50.9 million beat expectations. The company lowered its 2026 normalized organic revenue growth outlook to 5%-6% from 7%-9% and its free cash flow conversion target to 20%-25% from 30%.
1. Quarterly results
Third-quarter revenue increased 97% year over year to $153.4 million, compared with analyst expectations of $151.97 million. Adjusted EBITDA was $50.9 million, above the $48.67 million consensus estimate, and the company reported a net loss of $10.4 million.
2. 2026 outlook
Repay Holdings reiterated its 2026 revenue guidance of $490 million to $500 million and adjusted EBITDA guidance of $168.5 million to $176 million. It lowered its normalized organic revenue growth outlook to 5%-6% from 7%-9% and cut its free cash flow conversion target to 20%-25% from 30%. The company raised its expected annualized cost synergy run-rate exiting 2026 to $11 million.
3. Segment performance
The company said its Business Payments segment had 99% revenue growth and 40% normalized organic revenue growth. Consumer Payments organic revenue growth was below expectations, while political media revenue contributed 9 percentage points to organic revenue growth.
