Repay (US:RPAY)2025-03-03 21:10Financial Performance - Q4 2024 revenue increased by 3% year-over-year to $78.3 million, with full year revenue growth of 6% to $313.0 million[2]. - Gross profit for Q4 2024 grew by 2% year-over-year to $59.7 million, with full year gross profit increasing by 6% to $241.4 million[2]. - Adjusted EBITDA for Q4 2024 rose by 9% year-over-year to $36.5 million, reflecting strong operational performance[2]. - Revenue for Q4 2024 was $78,271,000, representing a 3.9% increase from $75,987,000 in Q4 2023[26]. - Total revenue for the year 2024 reached $313,042,000, up 5.5% from $296,627,000 in 2023[26]. - Adjusted EBITDA for the full year 2024 was $140,810,000, compared to $126,806,000 in 2023, marking an increase of 11%[35]. - The company reported a net loss of $10,345,000 for the full year 2024, an improvement from a net loss of $117,420,000 in 2023[35]. - Adjusted Net Income for the full year 2024 was $87,818,000, up from $84,942,000 in 2023, an increase of 2.1%[35]. Cash Flow and Expenses - Free Cash Flow for Q4 2024 was $23.5 million, an 8% increase year-over-year, with Free Cash Flow Conversion at 64%[2]. - Adjusted Free Cash Flow Conversion improved from 42% in 2023 to 75% in 2024, showcasing enhanced cash flow efficiency[5]. - Net cash provided by operating activities for 2024 was $150,090,000, compared to $103,614,000 in 2023, marking a 44.8% increase[30]. - Free cash flow for the three months ended December 31, 2024, was $23,459,000, compared to $21,787,000 in 2023, reflecting an increase of 7.7%[36]. - Free cash flow conversion rate for the year ended December 31, 2024, was 75%, up from 42% in 2023[36]. - Total capital expenditures for the year ended December 31, 2024, were $44,853,000, a decrease from $50,816,000 in 2023, indicating a reduction of 11.7%[36]. Operating Performance - Operating expenses for Q4 2024 were $79,441,000, a significant decrease from $154,401,000 in Q4 2023, primarily due to the absence of impairment losses[26]. - Total operating expenses for the full year 2024 were $320,812,000, down from $408,040,000 in 2023, a decrease of 21.4%[35]. - Total depreciation and amortization for the year ended December 31, 2024, was $103,710,000, consistent with $103,857,000 in 2023[38]. Segment Performance - Consumer Payments segment revenue decreased by 7% year-over-year in Q4 2024, while Business Payments segment revenue increased by 76% year-over-year[14]. - The Company experienced a 60% year-over-year growth in Business Payments gross profit, driven by strong contributions from the political media vertical[12]. - Instant funding volumes increased by approximately 34% year-over-year, indicating strong demand for payment solutions[12]. Strategic Initiatives - The Company is undergoing a strategic review process to explore various alternatives, including potential M&A opportunities[6]. - The Board has not set a deadline for the strategic review process, which aims to enhance shareholder value[6]. Balance Sheet Highlights - Cash and cash equivalents increased to $189,530,000 as of December 31, 2024, up from $118,096,000 in 2023[28]. - Total assets as of December 31, 2024, were $1,571,908,000, compared to $1,519,833,000 in 2023, reflecting a growth of 3.4%[28]. - Long-term debt increased to $496,778,000 in 2024 from $434,166,000 in 2023, indicating a rise of 14.4%[28]. - The Company issued $287,500,000 in long-term debt during 2024, which contributed to its cash flow[30]. Shareholder Information - The weighted-average shares of Class A common stock outstanding were 88,392,571 for Q4 2024, down from 91,206,870 in Q4 2023[26]. - Weighted average shares of Class A common stock outstanding for the year ended December 31, 2024, were 89,915,137, down from 90,048,638 in 2023[41].