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Sep 30, 2020
Repay Q3 2020 Earnings Report
Reported solid financial results driven by the value proposition of vertically-integrated payment solutions and strategic acquisitions.
Key Takeaways
REPAY reported a strong third quarter with a 43% increase in total revenue and a 40% increase in gross profit compared to the third quarter of 2019. The acquisition of CPS Payment Services is expected to enhance REPAY's B2B and AP automation offering.
Card payment volume increased by 44% compared to Q3 2019, reaching $3.8 billion.
Total revenue grew by 43% compared to Q3 2019, totaling $37.6 million.
Gross profit increased by 40% compared to Q3 2019, amounting to $27.1 million.
Adjusted EBITDA increased by 31% over the third quarter of 2019, reaching $15.6 million.
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Forward Guidance
REPAY expects the following financial results for full year 2020, which reflects expected contributions from CPS Payment Services and replaces previously provided guidance.