Loading...
•
Mar 31, 2021
Repay Q1 2021 Earnings Report
Reported a strong first quarter with significant growth in card payment volume and gross profit, driven by solid performance across all businesses.
Key Takeaways
REPAY reported a 20% increase in total revenue, reaching $47.5 million, and a 22% increase in gross profit, amounting to $35.0 million. Adjusted EBITDA grew by 18% to $20.5 million. The company also updated its full year 2021 outlook, projecting card payment volume between $19.9 and $20.4 billion and total revenue between $210 and $220 million.
Card payment volume increased by 20% year-over-year, reaching $4.6 billion.
Total revenue grew by 20% compared to the first quarter of 2020, totaling $47.5 million.
Gross profit increased by 22% year-over-year, amounting to $35.0 million.
Adjusted EBITDA increased by 18% to $20.5 million.
Repay
Repay
Forward Guidance
REPAY expects the following financial results for full year 2021, which reflects the assumption that the BillingTree acquisition closes by the end of the second quarter 2021, and replaces previously provided guidance.
Positive Outlook
- Card Payment Volume $19.9 - 20.4 billion
- Total Revenue $210 - 220 million
- Gross Profit $159 - 165 million
- Adjusted EBITDA $91 - 96 million
Challenges Ahead
- This range assumes no further unforeseen COVID-related impacts, which could create substantial economic duress in 2021.