Repay (US:RPAY)2022-03-02 19:30Financial Performance - Q4 2021 - Card payment volume reached $5.643 billion, a 43% increase compared to Q4 2020's $3.955 billion[17, 49] - Total revenue was $62.2 million, up 50% from $41.4 million in Q4 2020[13, 49] - Gross profit increased by 57% to $47.2 million, compared to $30.0 million in Q4 2020[13, 18, 49] - Adjusted EBITDA grew by 58% to $27.8 million, versus $17.6 million in Q4 2020[13, 17, 49] Growth & Liquidity - The company has a strong liquidity position with $50 million in cash on hand and $165 million in revolver capacity as of December 31, 2021[23] - Total liquidity stood at $215 million, while total debt was $440 million, resulting in net debt of $410 million[23] - The company's pro forma net leverage was 3.6x based on LTM December 2021 adjusted EBITDA, pro forma for contributions from BillingTree, Kontrol Payables, and Payix[23, 25] FY 2022 Outlook - The company anticipates card payment volume between $27 billion and $28 billion for the full year 2022[26] - Total revenue is projected to be in the range of $296 million to $306 million[26] - Gross profit is expected to be between $224 million and $232 million, representing approximately 41% total growth and 20% organic growth[26, 27] - Adjusted EBITDA is forecasted to be between $128 million and $134 million[26] B2B Payments Business - The B2B payments business has a total addressable market of $3.4 trillion across 15+ vertical end markets[35] - The B2B payments business has annualized payment volume of approximately $4.8 billion with approximately 3,600 clients[36]