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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 09, 2024

 

 

REPAY HOLDINGS CORPORATION

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware			001-38531	98-1496050
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
3 West Paces Ferry Road Suite 200
Atlanta, Georgia				30305
(Address of Principal Executive Offices)				(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: 404 504-7472

 

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Class A common stock, par value $0.0001 per share		RPAY		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

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Item 2.02. Results of Operations and Financial Condition.

 

On May 9, 2024, Repay Holdings Corporation (the “Company”) issued a press release announcing the results of the Company’s operations for the quarter ended March 31, 2024.

 

A copy of the Company’s press release is attached hereto as Exhibit 99.1 and is hereby incorporated by reference in this Item 2.02. As provided in General Instruction B.2 of Form 8-K, the information and exhibits contained in this Item 2.02 shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall they be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

 

Item 7.01. Regulation FD Disclosure.

 

On May 9, 2024, the Company provided supplemental information regarding its business and operations in an earnings supplement and investor presentation that will be made available on the investor relations section of the Company’s website.

 

Copies of the earnings supplement and investor presentation are attached hereto as Exhibits 99.2 and 99.3 and are hereby incorporated by reference in this Item 7.01. As provided in General Instruction B.2 of Form 8-K, the information and exhibits contained in this Item 7.01 shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act, nor shall they be deemed to be incorporated by reference in any filing under the Securities Act, except as shall be expressly set forth by specific reference in such a filing.

 

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.				Description
99.1*				Press release issued May 9, 2024 by Repay Holdings Corporation
99.2*				Earnings Supplement, dated May 2024
99.3*				Investor Presentation, dated May 2024
104				Cover Page Interactive Data File (embedded within the Inline XBRL document)
	*	Filed herewith

 

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Repay Holdings Corporation
Dated: May 9, 2024	By:	/s/ Timothy J. Murphy
		Timothy J. Murphy
		Chief Financial Officer

 

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REPAY Reports First Quarter 2024 Financial Results

 

Gross Profit Growth of 9% and Organic Gross Profit Growth1 of 11% in Q1

Faster Pace of Adjusted EBITDA Growth with Expanding Margins

Reiterates 2024 Outlook, Including an Acceleration in Free Cash Flow Conversion During 2024

 

ATLANTA, May 9, 2024 -- Repay Holdings Corporation (NASDAQ: RPAY) (“REPAY” or the “Company”), a leading provider of vertically-integrated payment solutions, today reported financial results for its first quarter ended March 31, 2024.

 

First Quarter 2024 Financial Highlights

 

(in $ millions)		Q1 2023				Q2 2023				Q3 2023				Q4 2023				Q1 2024				YoY Change
Revenue		$	74.5			$	71.8			$	74.3			$	76.0			$	80.7			8%
Gross profit (1)			56.6				54.9				56.7				58.7				61.5			9%
Net loss			(27.9	)			(5.3	)			(6.5	)			(77.7	)			(5.4	)		81%
Adjusted EBITDA (2)			30.9				30.5				31.9				33.5				35.5			15%
Net cash provided by operating activities			20.8				20.0				28.0				34.9				24.8			19%
Free Cash Flow (2)			7.1				10.0				13.9				21.8				13.7			93%

 

“REPAY’s Q1 results represent a strong start to the year, with organic gross profit growth1 of 11%, demonstrating continued success in enhancing our client’s embedded payment flows,” said John Morris, CEO of REPAY. “As we continue to strengthen our technical and go-to-market relationships with our software partners, we are excited about the multi-year growth opportunities across our Consumer and Business Payment’s verticals.”

 

First Quarter 2024 Business Highlights

 

The Company's achievements in the quarter, including those highlighted below, reinforce management's belief in the ability of the Company to drive durable and sustained growth across REPAY's diversified business model.

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Segments

 

The Company reports its financial results based on two reportable segments.

 

Consumer Payments – The Consumer Payments segment provides payment processing solutions (including debit and credit card processing, Automated Clearing House (“ACH”) processing and other electronic payment acceptance solutions, as well as REPAY’s loan disbursement product) that enable REPAY’S clients to collect payments and disburse funds to consumers and includes its clearing and settlement solutions (“RCS”). RCS is REPAY’s proprietary clearing and settlement platform through which it markets customizable payment processing programs to other ISOs and payment facilitators. The strategic vertical markets served by the Consumer Payments segment primarily include personal loans, automotive loans, receivables management, credit unions, mortgage servicing, consumer healthcare and diversified retail.

 

Business Payments – The Business Payments segment provides payment processing solutions (including accounts payable automation, debit and credit card processing, virtual credit card processing, ACH processing and other electronic payment acceptance solutions) that enable REPAY’s clients to collect or send payments to other businesses. The strategic vertical markets served within the Business Payments segment primarily include retail automotive, education, field services, governments and municipalities, healthcare, media, homeowner association management and hospitality.

 

Segment Revenue, Gross Profit, and Gross Profit Margin

 

		Three Months Ended March 31,
($ in thousand)		2024				2023				% Change
Revenue
Consumer Payments		$	76,136			$	69,940			9%
Business Payments			9,677				8,675			12%
Elimination of intersegment revenues			(5,093	)			(4,078	)
Total revenue		$	80,720			$	74,537			8%
Gross profit (1)
Consumer Payments		$	59,591			$	54,625			9%
Business Payments			7,047				6,025			17%
Elimination of intersegment revenues			(5,093	)			(4,078	)
Total gross profit		$	61,545			$	56,572			9%
Total gross profit margin (2)		76%				76%

2024 Outlook

 

“We are off to a strong start in 2024 and therefore we are reaffirming our 2024 outlook,” said Tim Murphy, CFO of REPAY. “We feel good about our Q1 execution and continue to expect Adjusted EBITDA to grow faster than gross profit. As we demonstrated with our Q1 results, we plan to reduce overall capex spending, giving us the confidence to accelerate our free cash flow conversion throughout 2024.”

 

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REPAY reiterates its previously provided outlook for full year 2024, as shown below.

 

	Full Year 2024 Outlook
Revenue	$314 - 320 million
Gross Profit	$245 - 250 million
Adjusted EBITDA	$139 - 142 million
Free Cash Flow Conversion	~ 60%

REPAY does not provide quantitative reconciliation of forward-looking, non-GAAP financial measures, such as forecasted 2024 Adjusted EBITDA and Free Cash Flow Conversion, to the most directly comparable GAAP financial measure, because it is difficult to reliably predict or estimate the relevant components without unreasonable effort due to future uncertainties that may potentially have a significant impact on such calculations, and providing them may imply a degree of precision that would be confusing or potentially misleading.

 

Conference Call

 

REPAY will host a conference call to discuss first quarter 2024 financial results today, May 9, 2024 at 5:00 pm ET. Hosting the call will be John Morris, CEO, and Tim Murphy, CFO. The call will be webcast live from REPAY’s investor relations website at https://investors.repay.com/investor-relations. The conference call can also be accessed live over the phone by dialing (877) 407-3982, or for international callers (201) 493-6780. A replay will be available one hour after the call and can be accessed by dialing (844) 512-2921 or (412) 317-6671 for international callers; the conference ID is 13745435. The replay will be available at https://investors.repay.com/investor-relations.

 

Non-GAAP Financial Measures

 

This report includes certain non-GAAP financial measures that management uses to evaluate the Company’s operating business, measure performance, and make strategic decisions. Adjusted EBITDA is a non-GAAP financial measure that represents net income prior to interest expense, tax expense, depreciation and amortization, as adjusted to add back certain charges deemed to not be part of normal operating expenses, non-cash charges and/or non-recurring charges, such as loss on business disposition, non-cash change in fair value of assets and liabilities, share-based compensation charges, transaction expenses, restructuring and other strategic initiative costs and other non-recurring charges. Adjusted Net Income is a non-GAAP financial measure that represents net income prior to amortization of acquisition-related intangibles, as adjusted to add back certain charges deemed to not be part of normal operating expenses, loss on business disposition, non-cash charges and/or non-recurring charges, such as loss on business disposition, non-cash change in fair value of assets and liabilities, share-based compensation expense, transaction expenses, restructuring and other strategic initiative costs, other non-recurring charges, non-cash interest expense and net of tax effect associated with these adjustments. Adjusted Net Income is adjusted to exclude amortization of all acquisition-related intangibles as such amounts are inconsistent in amount and frequency and are significantly impacted by the timing and/or size of acquisitions. Management believes that the adjustment of acquisition-related intangible amortization supplements GAAP financial measures because it allows for greater comparability of operating performance. Although REPAY excludes amortization from acquisition-related intangibles from its non-GAAP expenses, management believes that it is important for investors to understand that such intangibles were recorded as part of purchase accounting and contribute to revenue generation. Adjusted Net Income per share is a non-GAAP financial measure that represents Adjusted Net Income divided by the weighted

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average number of shares of Class A common stock outstanding (on an as-converted basis assuming conversion of the outstanding units exchangeable for shares of Class A common stock) for the three months ended March 31, 2024 and 2023 (excluding shares subject to forfeiture). Organic gross profit growth is a non-GAAP financial measure that represents year-on-year gross profit growth that excludes incremental gross profit attributable to acquisitions and divestitures made in the applicable prior period or any subsequent period. Free Cash Flow is a non-GAAP financial measure that represents net cash flow provided by operating activities less total capital expenditures. Free Cash Flow Conversion represents Free Cash Flow divided by Adjusted EBITDA. REPAY believes that Adjusted EBITDA, Adjusted Net Income, Adjusted Net Income per share, organic gross profit growth, Free Cash Flow and Free Cash Flow Conversion provide useful information to investors and others in understanding and evaluating its operating results in the same manner as management. However, these non-GAAP financial measures are not financial measures calculated in accordance with GAAP and should not be considered as a substitute for net income, operating profit, net cash provided by operating activities, or any other operating performance measure calculated in accordance with GAAP. Using these non-GAAP financial measures to analyze REPAY’s business has material limitations because the calculations are based on the subjective determination of management regarding the nature and classification of events and circumstances that investors may find significant. In addition, although other companies in REPAY’s industry may report measures titled as the same or similar measures, such non-GAAP financial measures may be calculated differently from how REPAY calculates its non-GAAP financial measures, which reduces their overall usefulness as comparative measures. Because of these limitations, you should consider REPAY’s non-GAAP financial measures alongside other financial performance measures, including net income, net cash provided by operating activities and REPAY’s other financial results presented in accordance with GAAP.

 

Forward-Looking Statements

 

This communication contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, REPAY’s plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as “guidance,” “will likely result,” “are expected to,” “will continue,” “should,” “is anticipated,” “estimated,” “believe,” “intend,” “plan,” “projection,” “outlook” or words of similar meaning. These forward-looking statements include, but are not limited to, REPAY’s 2024 outlook and other financial guidance, expected demand on REPAY’s product offering, including further implementation of electronic payment options and statements regarding REPAY’s market and growth opportunities, and REPAY’s business strategy and the plans and objectives of management for future operations. Such forward-looking statements are based upon the current beliefs and expectations of REPAY’s management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond REPAY’s control.

 

In addition to factors disclosed in REPAY’s reports filed with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2023 and subsequent Form 10-Qs, and those identified elsewhere in this communication, the following factors, among others, could cause actual results and the timing of events to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: exposure to economic conditions and political risk affecting the consumer loan market, the receivables management industry and consumer and commercial spending, including bank failures or other adverse events affecting financial institutions, inflationary pressures, general

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economic slowdown or recession; changes in the payment processing market in which REPAY competes, including with respect to its competitive landscape, technology evolution or regulatory changes; changes in the vertical markets that REPAY targets, including the regulatory environment applicable to REPAY’s clients; the ability to retain, develop and hire key personnel; risks relating to REPAY’s relationships within the payment ecosystem; risk that REPAY may not be able to execute its growth strategies, including identifying and executing acquisitions; risks relating to data security; changes in accounting policies applicable to REPAY; and the risk that REPAY may not be able to maintain effective internal controls.

 

Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those forward-looking statements are based. There can be no assurance that the data contained herein is reflective of future performance to any degree. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance. All information set forth herein speaks only as of the date hereof in the case of information about REPAY or the date of such information in the case of information from persons other than REPAY, and REPAY disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication. Forecasts and estimates regarding REPAY’s industry and end markets are based on sources it believes to be reliable, however there can be no assurance these forecasts and estimates will prove accurate in whole or in part. Pro forma, projected and estimated numbers are used for illustrative purpose only, are not forecasts and may not reflect actual results.

 

About REPAY

 

REPAY provides integrated payment processing solutions to verticals that have specific transaction processing needs. REPAY’s proprietary, integrated payment technology platform reduces the complexity of electronic payments for clients, while enhancing the overall experience for consumers and businesses.

 

Contacts

Investor Relations Contact for REPAY:

ir@repay.com

 

Media Relations Contact for REPAY:

Kristen Hoyman

(404) 637-1665

khoyman@repay.com

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Condensed Consolidated Statement of Operations (Unaudited)

 

		Three Months ended March 31,
(in $ thousands, except per share data)		2024				2023
Revenue		$	80,720			$	74,537
Operating expenses
Costs of services (exclusive of depreciation and amortization shown separately below)			19,175				17,965
Selling, general and administrative			37,021				38,518
Depreciation and amortization			27,028				26,140
Loss on business disposition			—				9,878
Total operating expenses			83,224				92,501
Loss from operations			(2,504	)			(17,964	)
Other income (expense)
Interest income (expense), net			380				(923	)
Change in fair value of tax receivable liability			(2,913	)			(4,538	)
Other (loss) income, net			(26	)			(150	)
Total other income (expense)			(2,559	)			(5,611	)
Loss before income tax expense			(5,063	)			(23,575	)
Income tax expense			(302	)			(4,357	)
Net loss		$	(5,365	)		$	(27,932	)
Net loss attributable to non-controlling interest			(153	)			(1,540	)
Net loss attributable to the Company		$	(5,212	)		$	(26,392	)
Weighted-average shares of Class A common stock outstanding - basic and diluted			91,218,208				88,615,760
Loss per Class A share - basic and diluted		$	(0.06	)		$	(0.30	)

 

 

 

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Condensed Consolidated Balance Sheets

 

(in $ thousands)		March 31, 2024 (Unaudited)				December 31, 2023
Assets
Cash and cash equivalents		$	128,318			$	118,096
Accounts receivable			39,984				36,017
Prepaid expenses and other			15,727				15,209
Total current assets			184,029				169,322
Property, plant and equipment, net			2,642				3,133
Restricted cash			26,512				26,049
Intangible assets, net			431,734				447,141
Goodwill			716,793				716,793
Operating lease right-of-use assets, net			5,939				8,023
Deferred tax assets			146,571				146,872
Other assets			2,500				2,500
Total noncurrent assets			1,332,691				1,350,511
Total assets		$	1,516,720			$	1,519,833
Liabilities
Accounts payable		$	23,709			$	22,030
Accrued expenses			27,924				32,906
Current operating lease liabilities			1,241				1,629
Current tax receivable agreement			—				580
Other current liabilities			549				318
Total current liabilities			53,423				57,463
Long-term debt			434,877				434,166
Noncurrent operating lease liabilities			5,435				7,247
Tax receivable agreement, net of current portion			191,244				188,331
Other liabilities			2,443				1,838
Total noncurrent liabilities			633,999				631,582
Total liabilities		$	687,422			$	689,045
Commitments and contingencies
Stockholders' equity
Class A common stock, $0.0001 par value; 2,000,000,000 shares authorized; 92,910,302 issued and 91,493,792 outstanding as of March 31, 2024; 92,220,494 issued and 90,803,984 outstanding as of December 31, 2023			9				9
Class V common stock, $0.0001 par value; 1,000 shares authorized and 100 shares issued and outstanding as of March 31, 2024 and December 31, 2023			—				—
Treasury stock, 1,416,510 shares as of March 31, 2024 and December 31, 2023			(12,528	)			(12,528	)
Additional paid-in capital			1,155,215				1,151,324
Accumulated deficit			(328,882	)			(323,670	)
Total Repay stockholders' equity		$	813,814			$	815,135
Non-controlling interests			15,484				15,653
Total equity			829,298				830,788
Total liabilities and equity		$	1,516,720			$	1,519,833

 

 

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Condensed Consolidated Statements of Cash Flows

(Unaudited)

 

		Three Months Ended March 31,
(in $ thousands)		2024				2023
Cash flows from operating activities
Net loss		$	(5,365	)		$	(27,932	)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization			27,028				26,140
Stock based compensation			6,282				4,054
Amortization of debt issuance costs			712				712
Loss on business disposition			—				9,878
Fair value change in tax receivable agreement liability			2,913				4,538
Deferred tax expense			302				4,357
Change in accounts receivable			(3,967	)			(2,541	)
Change in prepaid expenses and other			(520	)			3,921
Change in operating lease ROU assets			2,084				270
Change in accounts payable			1,679				(916	)
Change in related party payable			—				435
Change in accrued expenses and other			(4,982	)			(1,716	)
Change in operating lease liabilities			(2,201	)			(264	)
Change in other liabilities			836				(105	)
Net cash provided by operating activities			24,801				20,831
Cash flows from investing activities
Purchases of property and equipment			(87	)			(528	)
Capitalized software development costs			(11,042	)			(13,201	)
Proceeds from sale of business, net of cash retained			—				40,423
Net cash provided by (used in) investing activities			(11,129	)			26,694
Cash flows from financing activities
Payments on long-term debt			—				(20,000	)
Payments for tax withholding related to shares vesting under Incentive Plan			(2,407	)			(1,205	)
Distributions to Members			—				(54	)
Payment of Tax Receivable Agreement			(580	)			—
Payment of contingent consideration liability up to acquisition-date fair value			—				(1,000	)
Net cash used in financing activities			(2,987	)			(22,259	)
Increase in cash, cash equivalents and restricted cash			10,685				25,266
Cash, cash equivalents and restricted cash at beginning of period		$	144,145			$	93,563
Cash, cash equivalents and restricted cash at end of period		$	154,830			$	118,829
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid during the year for:
Interest		$	200			$	449

 

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Reconciliation of GAAP Net Income to Non-GAAP Adjusted EBITDA

For the Three Months Ended March 31, 2024 and 2023

(Unaudited)

 

	Three Months ended March 31,
(in $ thousands)	2024				2023
Revenue	$	80,720			$	74,537
Operating expenses
Costs of services (exclusive of depreciation and amortization shown separately below)	$	19,175			$	17,965
Selling, general and administrative		37,021				38,518
Depreciation and amortization		27,028				26,140
Loss on business disposition		—				9,878
Total operating expenses	$	83,224			$	92,501
Loss from operations	$	(2,504	)		$	(17,964	)
Other income (expense)
Interest income (expense), net		380				(923	)
Change in fair value of tax receivable liability		(2,913	)			(4,538	)
Other (loss) income, net		(26	)			(150	)
Total other income (expense)		(2,559	)			(5,611	)
Loss before income tax expense		(5,063	)			(23,575	)
Income tax expense		(302	)			(4,357	)
Net loss	$	(5,365	)		$	(27,932	)
Add:
Interest expense (income), net		(380	)			923
Depreciation and amortization (a)		27,028				26,140
Income tax expense		302				4,357
EBITDA	$	21,585			$	3,488
Loss on business disposition (b)		—				9,878
Non-cash change in fair value of assets and liabilities (c)		2,913				4,538
Share-based compensation expense (d)		6,923				4,054
Transaction expenses (e)		677				5,997
Restructuring and other strategic initiative costs (f)		2,184				1,411
Other non-recurring charges (g)		1,231				1,572
Adjusted EBITDA	$	35,513			$	30,938

 

 

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Reconciliation of GAAP Net Income to Non-GAAP Adjusted Net Income

For the Three Months Ended March 31, 2024 and 2023

(Unaudited)

 

	Three Months ended March 31,
(in $ thousands)	2024				2023
Revenue	$	80,720			$	74,537
Operating expenses
Costs of services (exclusive of depreciation and amortization shown separately below)	$	19,175			$	17,965
Selling, general and administrative		37,021				38,518
Depreciation and amortization		27,028				26,140
Loss on business disposition		—				9,878
Total operating expenses	$	83,224			$	92,501
Loss from operations	$	(2,504	)		$	(17,964	)
Interest income (expense), net		380				(923	)
Change in fair value of tax receivable liability		(2,913	)			(4,538	)
Other (loss) income, net		(26	)			(150	)
Total other income (expense)		(2,559	)			(5,611	)
Loss before income tax expense		(5,063	)			(23,575	)
Income tax expense		(302	)			(4,357	)
Net loss	$	(5,365	)		$	(27,932	)
Add:
Amortization of acquisition-related intangibles (h)		19,736				19,924
Loss on business disposition (b)		—				9,878
Non-cash change in fair value of assets and liabilities (c)		2,913				4,538
Share-based compensation expense (d)		6,923				4,054
Transaction expenses (e)		677				5,997
Restructuring and other strategic initiative costs (f)		2,184				1,411
Other non-recurring charges (g)		1,231				1,572
Non-cash interest expense (i)		712				712
Pro forma taxes at effective rate (j)		(6,633	)			(961	)
Adjusted Net Income	$	22,378			$	19,193
Shares of Class A common stock outstanding (on an as-converted basis) (k)		97,062,303				96,481,208
Adjusted Net Income per share	$	0.23			$	0.20

 

 

 

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Reconciliation of Operating Cash Flow to Free Cash Flow

For the Three Months Ended March 31, 2024 and 2023

(Unaudited)

 

		Three Months ended March 31,
(in $ thousands)		2024				2023
Net cash provided by operating activities		$	24,801			$	20,831
Capital expenditures
Cash paid for property and equipment			(87	)			(528	)
Capitalized software development costs			(11,042	)			(13,201	)
Total capital expenditures			(11,129	)			(13,729	)
Free cash flow		$	13,672			$	7,102
Free cash flow conversion			38	%			23	%

 

 

Reconciliation of Gross Profit Growth to Organic Gross Profit Growth by Segment

For the Year-over-Year Change Between the Three Months Ended March 31, 2024 and 2023

(Unaudited)

 

		Consumer Payments				Business Payments				Total
Gross profit growth			9	%			17	%			9	%
Less: Growth from acquisitions and dispositions			(2	%)			—				(2	%)
Organic gross profit growth (l)			11	%			17	%			11	%

 

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		Three Months ended March 31,
(in $ thousands)		2024				2023
Acquisition-related intangibles		$	19,736			$	19,924
Software			6,713				5,475
Amortization		$	26,449			$	25,399
Depreciation			579				741
Total Depreciation and amortization (1)		$	27,028			$	26,140

 

 

 

		Three Months ended March 31,
		2024		2023
Weighted average shares of Class A common stock outstanding - basic		91,218,208		88,615,760
Add: Non-controlling interests
Weighted average Post-Merger Repay Units exchangeable for Class A common stock		5,844,095		7,865,448
Shares of Class A common stock outstanding (on an as-converted basis)		97,062,303		96,481,208

 

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Q1 2024 Earnings Supplement May 2024 Exhibit 99.2

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Disclaimer Repay Holdings Corporation (“REPAY” or the “Company”) is required to file annual, quarterly and current reports, proxy statements and other information with the Securities and Exchange Commission (“SEC”) Such filings, which you may obtain for free at the SEC’s website at http://www.sec.gov, discuss some of the important risk factors that may affect REPAY’s business, results of operations and financial condition. On July 11, 2019, Thunder Bridge Acquisition Ltd. (“Thunder Bridge”) and Hawk Parent Holdings LLC (“Hawk Parent”) completed their previously announced business combination under which Thunder Bridge acquired Hawk Parent, upon which Thunder Bridge changed its name to Repay Holdings Corporation. Forward-Looking Statements This presentation (the “Presentation”) contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, REPAY’s plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “believe,” “intend,” “plan,” “projection,” “outlook” or words of similar meaning. These forward-looking statements include, but are not limited to, REPAY’s 2024 outlook and other financial guidance, expected demand on REPAY’s product offering, including further implementation of electronic payment options and statements regarding REPAY’s market and growth opportunities, and REPAY’s business strategy and the plans and objectives of management for future operations. Such forward-looking statements are based upon the current beliefs and expectations of REPAY’s management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond REPAY’s control. In addition to factors previously disclosed in REPAY’s reports filed with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2023 and subsequent Form 10-Qs, the following factors, among others, could cause actual results and the timing of events to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: exposure to economic conditions and political risk affecting the consumer loan market, the receivables management industry and consumer and commercial spending, including bank failures or other adverse events affecting financial institutions, inflationary pressures, general economic slowdown or recession; changes in the payment processing market in which REPAY competes, including with respect to its competitive landscape, technology evolution or regulatory changes; changes in the vertical markets that REPAY targets, including the regulatory environment applicable to REPAY’s clients; the ability to retain, develop and hire key personnel; risks relating to REPAY’s relationships within the payment ecosystem; risk that REPAY may not be able to execute its growth strategies, including identifying and executing acquisitions; risks relating to data security; changes in accounting policies applicable to REPAY; and the risk that REPAY may not be able to maintain effective internal controls. Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those forward-looking statements are based. There can be no assurance that the data contained herein is reflective of future performance to any degree. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance. All information set forth herein speaks only as of the date hereof in the case of information about REPAY or the date of such information in the case of information from persons other than REPAY, and REPAY disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this Presentation. Forecasts and estimates regarding our industry and end markets are based on sources REPAY believes to be reliable, however there can be no assurance these forecasts and estimates will prove accurate in whole or in part. Annualized, pro forma, projected and estimated numbers are used for illustrative purpose only, are not forecasts and may not reflect actual results. Industry and Market Data The information contained herein also includes information provided by third parties, such as market research firms. Neither of REPAY nor its affiliates and any third parties that provide information to REPAY, such as market research firms, guarantee the accuracy, completeness, timeliness or availability of any information. Neither REPAY nor its affiliates and any third parties that provide information to REPAY, such as market research firms, are responsible for any errors or omissions (negligent or otherwise), regardless of the cause, or the results obtained from the use of such content. Neither REPAY nor its affiliates give any express or implied warranties, including, but not limited to, any warranties of merchantability or fitness for a particular purpose or use, and they expressly disclaim any responsibility or liability for direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees or losses (including lost income or profits and opportunity costs) in connection with the use of the information herein. Non-GAAP Financial Measures This Presentation includes certain non-GAAP financial measures that REPAY’s management uses to evaluate its operating business, measure its performance and make strategic decisions. Adjusted EBITDA is a non-GAAP financial measure that represents net income prior to interest expense, tax expense, depreciation and amortization, as adjusted to add back certain charges deemed to not be part of normal operating expenses, non-cash and/or non-recurring charges, such as loss on business disposition, loss on extinguishment of debt, loss on termination of interest rate hedge, non-cash change in fair value of contingent consideration, non-cash change in fair value of assets and liabilities, share-based compensation charges, transaction expenses, restructuring and other strategic initiative costs and other non-recurring charges. Adjusted EBITDA margin is a non-GAAP financial measure that represents Adjusted EBITDA divided by GAAP revenue. Adjusted Net Income is a non-GAAP financial measure that represents net income prior to amortization of acquisition-related intangibles, as adjusted to add back certain charges deemed to not be part of normal operating expenses, non-cash and/or non-recurring charges, such as loss on business disposition, loss on extinguishment of debt, loss on termination of interest rate hedge, non-cash change in fair value of contingent consideration, non-cash change in fair value of assets and liabilities, share-based compensation expense, transaction expenses, restructuring and strategic initiative costs and other non-recurring charges, non-cash interest expense, net of tax effect associated with these adjustments. Adjusted Net Income is adjusted to exclude amortization of all acquisition-related intangibles as such amounts are inconsistent in amount and frequency and are significantly impacted by the timing and/or size of acquisitions. Management believes that the adjustment of acquisition-related intangible amortization supplements GAAP financial measures because it allows for greater comparability of operating performance. Although management excludes amortization from acquisition-related intangibles from REPAY’s non-GAAP expenses, management believes that it is important for investors to understand that such intangibles were recorded as part of purchase accounting and contribute to revenue generation. Each of “organic revenue growth,” and “organic gross profit (GP) growth” is a non-GAAP financial measure that represents the percentage change in the applicable metric for a fiscal period over the comparable prior fiscal period, exclusive of any incremental amount attributable to acquisitions or divestitures made in the comparable prior fiscal period or any subsequent fiscal period through the applicable current fiscal period. Any financial measure (whether GAAP or non-GAAP) that is modified by “excl. political media” or “normalized” (such as Normalized Organic GP Growth) is a non-GAAP financial measure that measures a defined growth rate exclusive of the estimated contribution from political media clients in the prior corresponding period. Free Cash Flow is a non-GAAP financial measure that represents net cash flow provided by operating activities less total capital expenditures.. Free Cash Flow Conversion represents Free Cash Flow divided by Adjusted EBITDA. REPAY believes that each of the non-GAAP financial measures referenced in this paragraph provide useful information to investors and others in understanding and evaluating its operating results in the same manner as management. However, these non-GAAP financial measures are not financial measures calculated in accordance with GAAP and should not be considered as a substitute for net income, operating profit, or any other operating performance measure calculated in accordance with GAAP. Using these non-GAAP financial measures to analyze REPAY’s business has material limitations because the calculations are based on the subjective determination of management regarding the nature and classification of events and circumstances that investors may find significant. In addition, although other companies in REPAY’s industry may report measures titled with the same or similar description, such non-GAAP financial measures may be calculated differently from how REPAY calculates its non-GAAP financial measures, which reduces their overall usefulness as comparative measures. Because of these limitations, you should consider each of the non-GAAP financial measures referenced in this paragraph alongside other financial performance measures, including net income and REPAY’s other financial results presented in accordance with GAAP.

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1 Financial Update & Outlook

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We remain positioned for another year of profitable growth, while being focused on accelerating FCF conversion in 2024 We will continue to take advantage of the many secular trends towards frictionless digital payments that have been, and will continue to be, a tailwind driving our business

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Financial Update – Q1 2024 ($MM) Revenue Gross Profit Adjusted EBITDA (3) Organic growth is a non-GAAP financial measure. See slide 1 under “Non-GAAP Financial Measures” and slide 29 for reconciliation Gross profit margin represents gross profit / revenue Adjusted EBITDA is a non-GAAP financial measure. See slide 1 under “Non-GAAP Financial Measures” and slide 24 for reconciliation. Adjusted EBITDA margin represents adjusted EBITDA / revenue Free Cash Flow and Free Cash Flow conversion are non-GAAP financial measures. See slide 1 under “Non-GAAP Financial Measures” and slide 27 for reconciliation. Free Cash Flow conversion represents Free Cash Flow / Adjusted EBITDA 76% 76% % Margin (2) 42% 44% % Margin (3) 11% y/y organic growth (1) 10% y/y organic growth(1) 15% y/y growth Free Cash Flow (4) 23% 38% FCF conversion (4) 93% y/y growth

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Growth by Segment – Q1 2024 ($MM) Organic growth is a non-GAAP financial measure. See slide 1 under “Non-GAAP Financial Measures” and slide 29 for reconciliation Includes the impact from Intercompany eliminations Gross Profit Margin 75.9% 76.2% 10% y/y organic growth(1) 11% y/y organic growth (1) Organic GP growth (1) Consumer Payments 11% Business Payments 17% Total Company (2) 11%

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Q1 2024 Gross Profit Bridge ($MM) New GP Dollars Divestiture impact Q1 2024 Gross Profit growth 9% Divestiture impact (2%) Organic Gross Profit Growth (1) 11% Organic gross profit (or GP) growth is a non-GAAP financial measure. See slide 1 under “Non-GAAP Financial Measures” and slide 30 for reconciliation

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Consumer Payments Results – Q1 2024 ($MM) Key Business Highlights Strength across auto loans, personal loans, credit unions, and mortgage servicing Winning large enterprise clients who are adopting more payment channels and modalities Continued strong adoption of non-card volume-based products Executing on integration refreshes to further penetrate software partnerships, which leads to confidence in our sales pipeline GP margins benefited from processing costs optimization and strategic initiatives Gross Profit Margin 78.1% 78.3% 11% y/y organic growth (1) (9% y/y growth, as reported) 11% y/y organic growth (1) (9% y/y growth, as reported) Organic growth is a non-GAAP financial measure. See slide 1 under “Non-GAAP Financial Measures” and slide 29 for reconciliation

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Strong sales pipeline within healthcare, property management, auto, and municipality verticals via direct sales and new / refreshed integrations Increased our AP Supplier Network to over 279,000 suppliers Sustained momentum of Gross Profit growth in the teens Starting to benefit from political media contributions GP margins benefited from processing costs optimization and automation initiatives Business Payments Results – Q1 2024 ($MM) Key Business Highlights Gross Profit Margin 69.5% 72.8% 12% y/y growth 17% y/y growth

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Calculated using LTM Q1 2024 adjusted EBITDA Focused on Maintaining Significant Liquidity Preserve liquidity and profitability through: Hiring focused on revenue generating / supporting roles Limited discretionary expenses Negotiations with vendors Business continues to show high cash flow conversion Continued investments in organic growth Committed to Prudently Managing Leverage Total Outstanding Debt comprised of 0% coupon on $440 million Convertible Note with maturity in 2026 (if not converted) $185 million revolver facility provides flexibility for further acquisitions Secured net leverage covenant is max of 2.5x (definitionally excludes convertible notes balance) Paid down $20 million balance on February 28, 2023 Leverage Total Debt $440 MM Cash on Hand $128 MM Net Debt $312 MM Net Leverage(1) 2.4x Liquidity Cash on Hand $128 MM Revolver Capacity $185 MM Total Liquidity $313 MM Strong Liquidity Position as of March 31, 2024

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FY 2024 Outlook REVENUE GROSS PROFIT ADJUSTED EBITDA FREE CASH FLOW CONVERSION (1) $314 – $320MM $245 – $250MM $139 – $142MM ~60% Note: REPAY does not provide quantitative reconciliation of forward-looking, non-GAAP financial measures such as forecasted Adjusted EBITDA and Free Cash Flow Conversion to the most directly comparable GAAP financial measure because it is difficult to reliably predict or estimate the relevant components without unreasonable effort due to future uncertainties that may potentially have significant impact on such calculations, and providing them may imply a degree of precision that would be confusing or potentially misleading Free Cash Flow Conversion represents Free Cash Flow / Adjusted EBITDA REPAY reiterates it previously provided outlook for full year 2024 ~44% Margins ~78% Margins

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FY 2024 Gross Profit Outlook Bridge Blue Cow divestiture Existing Client Growth (1) Political media contribution (1) $245 - $250 New Client Growth (1) Management estimates as of 5/9/2024 (In $ Millions)

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FY 2024 Outlook Bridge Free Cash Flow Conversion represents Free Cash Flow / Adjusted EBITDA Free Cash Flow Conversion (1) Gross Profit & Adjusted EBITDA $245 - $250 $139 - $142 Adjusted EBITDA to grow faster than Gross Profit… (In $ Millions) … combined with Capex reduction, FCF Conversion to accelerate ~

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History of Sustained Growth Across All Key Metrics… Gross Profit (1) Revenue (1) Free Cash Flow (2) Adjusted EBITDA(2) (In $ Millions) (In $ Millions) (In $ Millions) (In $ Millions) 19% CAGR 30% CAGR (3) Consumer Payments Business Payments Consolidated Consolidated totals include the elimination of intersegment revenues Adjusted EBITDA and Free Cash Flow are non-GAAP financial measures. See slide 1 under “Non-GAAP Financial Measures” and slides 24 & 27 for reconciliations. For historical periods shown with respect to Adjusted EBITDA, see the reconciliations provided in the Company’s previous reported earnings releases and filings on Form 10-K or Form 10-Q with respect to such period ended. CAGR is from Q2 2021 to Q1 2024 21% CAGR 20% CAGR

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…With Expanding Gross Profit Margins and FCF Conversion FCF Conversion (1) Gross Profit Margin Free Cash Flow Conversion represents Free Cash Flow / Adjusted EBITDA. Free Cash Flow Conversion is non-GAAP financial measure. See slide 1 under “Non-GAAP Financial Measures” and slide 27 for reconciliation

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2 Strategy & Business Updates

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Acquire New Clients in Existing Verticals With Our Q1 2024 Performance We SeeMultiple Levers to Continue to Drive Growth Q1 2024 Organic GP Growth 11% EXECUTE ON EXISTING BUSINESS BROADENING ADDRESSABLE MARKET AND SOLUTIONS REPAY’s leading platform & attractive market opportunity position it to build on its record of robust growth & profitability Operational Efficiencies Expand Usage and Increase Adoption Strategic M&A Future Market Expansion Opportunities Majority of Consumer Payments growth from further penetration of existing client base Majority of Business Payments growth from acquiring new clients

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ADDED NEW CLIENTS VIA DIRECT SALESFORCE ACROSS ALL VERTICALS 266 SOFTWARE PARTNER RELATIONSHIPS(1), INCLUDING: As of 3/31/2024 Third-party research and management estimates as of 3/31/2024 Executing on Growth Plan BROADEN ADDRESSABLE MARKET AND SOLUTIONS ERP & accounting software integrations provide vertical agnostic opportunities Expanded TAM to ~$5.2 trillion(2) through strategic M&A Continuing to grow existing relationships and add new opportunities within existing verticals & ISVs Cash on balance sheet and revolving credit facility gives the Company ample liquidity of $303 million(1) to pursue our capital allocation initiatives such as investing in organic growth, balancing reduction of net leverage, while managing our convertible liability, and potentially pursuing M&A Continuing to thoughtfully invest in new product and research & development capabilities EXPANDING EXISTING BUSINESS CONSUMER PAYMENTS BUSINESS PAYMENTS Ended Q1 2024 with 291 credit union clients VISA ACCEPTANCE FASTRACK PROGRAM

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Ample Runway in Consumer Payments Third-party research and management estimates as of 3/31/2024 Reflects the reclassification of partnerships between Consumer Payments and Business Payments segments Evolving consumer preferences and technology are requiring clients to embrace payment digitization TOTAL ADDRESSABLE MARKET(1) $1.8Tn VERTICAL END MARKETS 6 ISV INTEGRATION PARTNERS(2) 172 REPAY’s integrated payment processing platform automates and modernizes our clients' operations, resulting in increased cash flow, lower costs, and improved customer experience Loan repayments expertise is core to our efficiency: from tokenization to our clearing & settlement engine Instant Funding accelerates the time at which borrowers receive loans while increasing digital repayments Multipronged go-to-market approach leverages both direct and indirect sales Continuing to invest into deeper ISV integrations, product innovation, and vertical specific technologies

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Consumer Payments Offering Omnichannel Capabilities across Modalities Clients in REPAY’s verticals look to partner with innovative vendors that can provide evolving payment functionality and acceptance solutions Credit and Debit Card Processing ACH Processing Instant Funding eCash New & Emerging Payments Virtual Terminal IVR / Phone Pay Mobile Application Web Portal / Online Bill Pay Hosted Payment Page POS Equipment Text Pay PAYMENT MODALITIES PAYMENT CHANNELS REPRESENTATIVE CLIENTS

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REPAY’s Growing Business Payments Segment Third-party research and management estimates as of 3/31/2024 Reflects the reclassification of partnerships between Consumer Payments and Business Payments segments $1.2Tn total addressable market Integrations with leading ERP platforms, serving a highly diversified client base across a wide range of industry verticals Expanded into B2B vertical via APS acquisition Cross sell initiative happening within Sage and Acumatica ERPs to add AP solutions TOTAL ADDRESSABLE MARKET(1) $3.4Tn VERTICAL END MARKETS 15+ SUPPLIER NETWORK ~279,000 B2B INTEGRATED SOFTWARE PARTNERS(2) 94 Combined AR and AP automation solution provides a compelling value proposition to clients $2.2Tn total addressable market Fully integrated AP automation platform with electronic payment capabilities including virtual cards and ACH Expanded into AP automation vertical via cPayPlus, CPS, and Kontrol acquisitions Entered the B2B healthcare space through Ventanex acquisition B2B Merchant Acquiring B2B AP Automation

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Powerful Business Payments Offering One-stop-shop B2B payments solutions provider REPRESENTATIVE CLIENTS Automated Reporting and Reconciliation Multiple Payment Options Including Virtual Card and Cross Border Vendor Management Client Rebates Deep ERP Integrations Multiple Payment Methods Tracking and Reconciliation Highly Secure ACCOUNTS RECEIVABLE AUTOMATION ACCOUNTS PAYABLE AUTOMATION TotalPay Solution Cash Inflow Cash Outflow Buyers Suppliers

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3 Appendix

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Q1 2024 Financial Update Note: Not meaningful (NM) for comparison Operating expenses includes SG&A and expenses associated with non-cash impairment loss, the change in fair value of tax receivable liability, change in fair value of contingent consideration, loss on extinguishment of debt, and other income / expenses See “Adjusted EBITDA Reconciliation” on slide 24 for reconciliation of Adjusted EBITDA to its most comparable GAAP measure See “Adjusted Net Income Reconciliation” on slide 26 for reconciliation of Adjusted Net Income to its most comparable GAAP measure See “Free Cash Flow Reconciliation” on slide 27 for reconciliation of Free Cash Flow to its most comparable GAAP measure THREE MONTHS ENDED MARCH 31 CHANGE $MM 2024 2023 AMOUNT %           Revenue $80.7 $74.5 $6.2 8% Costs of Services 19.2 18.0 1.2 7% Gross Profit $61.5 $56.6 $5.0 9% Operating Expenses(1) 40.0 53.1 (13.1) (25%) EBITDA $21.6 $3.5 $18.1 NM Depreciation and Amortization 27.0 26.1 0.9 3% Interest Expense (Income), net (0.4) 0.9 (1.3) NM Income Tax Expense (Benefit) 0.3 4.4 (4.1) NM Net Income (Loss) ($5.4) ($27.9) $22.6 81% Adjusted EBITDA(2) $35.5 $30.9 $4.6 15% Adjusted Net Income(3) $22.4 $19.2 $3.2 17% Free Cash Flow(4) $13.7 $7.1 $6.6 93%

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Quarterly Adjusted EBITDA Reconciliation For the three months ended March 31, 2024 and 2023, reflects amortization of client relationships, non-compete agreement, software, and channel relationship intangibles acquired through the business combination with Thunder Bridge, and client relationships, non-compete agreement, and software intangibles acquired through REPAY's acquisitions of TriSource Solutions, APS Payments, Ventanex, cPayPlus, CPS Payments, BillingTree, Kontrol Payables and Payix. This adjustment excludes the amortization of other intangible assets which were acquired in the regular course of business, such as capitalized internally developed software and purchased software. Reflects the loss recognized related to the disposition of Blue Cow. Reflects the changes in management’s estimates of the fair value of the liability relating to the Tax Receivable Agreement. Represents compensation expense associated with equity compensation plans. Primarily consists of (i) during the three months ended March 31, 2024, professional service fees incurred in connection with prior transactions, and (ii) during the three months ended March 31, 2023, professional service fees and other costs incurred in connection with the disposition of Blue Cow Software. Reflects costs associated with reorganization of operations, consulting fees related to processing services and other operational improvements, including restructuring and integration activities related to acquired businesses, that were not in the ordinary course during the three months ended March 31, 2024 and 2023. For the three months ended March 31, 2024, reflects non-recurring legal and other litigation expenses, payments made to third-parties in connection with our personnel, and franchise taxes and other non-income based taxes. For the three months ended March 31, 2023, reflects non-recurring payments made to third-parties in connection with a significant expansion of our personnel and one-time payments to certain partners. $MM Q1 2024 Q1 2023 Net Income (Loss) ($5.4) ($27.9) Interest Expense (Income), net (0.4) 0.9 Depreciation and Amortization(1) 27.0 26.1 Income Tax Expense (Benefit) 0.3 4.4 EBITDA $21.6 $3.5 Loss on business disposition(2) – 9.9 Non-cash change in fair value of assets and liabilities(3) 2.9 4.5 Share-based compensation expense(4) 6.9 4.1 Transaction expenses(5) 0.7 6.0 Restructuring and other strategic initiative costs(6) 2.2 1.4 Other non-recurring charges(7) 1.2 1.6 Adjusted EBITDA $35.5 $30.9

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Full Year Adjusted EBITDA Reconciliation For the years ended December 31, 2023 and 2022, reflects amortization of client relationships, non-compete agreement, software, and channel relationship intangibles acquired through the business combination with Thunder Bridge, and client relationships, non-compete agreement, and software intangibles acquired through REPAY's acquisitions of TriSource Solutions, APS Payments, Ventanex, cPayPlus, CPS Payments, BillingTree, Kontrol Payables and Payix. This adjustment excludes the amortization of other intangible assets which were acquired in the regular course of business, such as capitalized internally developed software and purchased software. Reflects the loss recognized related to the disposition of Blue Cow. Reflects the changes in management’s estimates of future cash consideration to be paid in connection with prior acquisitions from the amount estimated as of the most recent balance sheet date. For the year ended December 31, 2023, reflects non-cash goodwill impairment loss related to the Business Payments segment and non-cash impairment loss related to a trade name write-off of Media Payments. For the year ended December 31, 2022, reflects non-cash impairment loss related to trade names write-offs of BillingTree and Kontrol. For the year ended December 31, 2023, reflects the changes in management’s estimates of (i) the fair value of the liability relating to the Tax Receivable Agreement, and (ii) non-cash insurance reserve. For the year ended December 31, 2022, reflects the changes in management’s estimates of the fair value of the liability relating to the Tax Receivable Agreement. Represents compensation expense associated with equity compensation plans. Primarily consists of (i) during the year ended December 31, 2023, professional service fees and other costs incurred in connection with the disposition of Blue Cow Software, and (ii) during the year ended December 31, 2022, professional service fees and other costs incurred in connection with the acquisitions of BillingTree, Kontrol Payables and Payix. Reflects costs associated with reorganization of operations, consulting fees related to processing services and other operational improvements, including restructuring and integration activities related to acquired businesses, that were not in the ordinary course during the years ended December 31, 2023 and 2022. For the year ended December 31, 2023, reflects payments made to third-parties in connection with an expansion of our personnel, franchise taxes and other non-income based taxes and one-time payments to certain partners. For the year ended December 31, 2022, reflects one-time payments to certain clients and partners, payments made to third-parties in connection with a significant expansion of our personnel, franchise taxes and other non-income based taxes, other payments related to COVID-19 and non-cash rent expense. Beginning in the period ended December 31, 2023, no longer reflects non-cash rent expense. $MM FY 2023 FY 2022 Net Income (Loss) ($117.4) $8.7 Interest Expense (Income), net 1.0 4.2 Depreciation and Amortization(1) 103.9 107.8 Income Tax Expense (Benefit) (2.1) 6.2 EBITDA ($14.6) $126.9 Loss on business disposition(2) 10.0 – Non-cash change in fair value of contingent consideration(3) – (3.3) Non-cash impairment loss (4) 75.8 8.1 Non-cash change in fair value of assets and liabilities(5) 7.5 (66.9) Share-based compensation expense(6) 22.2 20.5 Transaction expenses(7) 8.5 19.0 Restructuring and other strategic initiative costs(8) 11.9 7.9 Other non-recurring charges(9) 5.5 12.3 Adjusted EBITDA $126.8 $124.5

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Quarterly Adjusted Net Income Reconciliation For the three months ended March 31, 2024 and 2023, reflects amortization of client relationships, non-compete agreement, software, and channel relationship intangibles acquired through the business combination with Thunder Bridge, and client relationships, non-compete agreement, and software intangibles acquired through REPAY's acquisitions of TriSource Solutions, APS Payments, Ventanex, cPayPlus, CPS Payments, BillingTree, Kontrol Payables and Payix. This adjustment excludes the amortization of other intangible assets which were acquired in the regular course of business, such as capitalized internally developed software and purchased software. Reflects the loss recognized related to the disposition of Blue Cow. Reflects the changes in management’s estimates of the fair value of the liability relating to the Tax Receivable Agreement. Represents compensation expense associated with equity compensation plans. Primarily consists of (i) during the three months ended March 31, 2024, professional service fees incurred in connection with prior transactions, and (ii) during the three months ended March 31, 2023, professional service fees and other costs incurred in connection with the disposition of Blue Cow Software. Reflects costs associated with reorganization of operations, consulting fees related to processing services and other operational improvements, including restructuring and integration activities related to acquired businesses, that were not in the ordinary course during the three months ended March 31, 2024 and 2023. For the three months ended March 31, 2024, reflects non-recurring legal and other litigation expenses, payments made to third-parties in connection with our personnel, and franchise taxes and other non-income based taxes. For the three months ended March 31, 2023, reflects non-recurring payments made to third-parties in connection with a significant expansion of our personnel and one-time payments to certain partners. Represents amortization of non-cash deferred debt issuance costs. Represents pro forma income tax adjustment effect associated with items adjusted above. ($MM) Q1 2024 Q1 2023 Net Income (Loss)   ($5.4) ($27.9) Amortization of acquisition-related intangibles(1)   19.7 19.9 Loss on business disposition(2) – 9.9 Non-cash change in fair value of assets and liabilities(3)   2.9 4.5 Share-based compensation expense(4) 6.9 4.1 Transaction expenses(5)   0.7 6.0 Restructuring and other strategic initiative costs(6)   2.2 1.4 Other non-recurring charges(7)   1.2 1.6 Non-cash interest expense(8)   0.7 0.7 Pro forma taxes at effective rate(9) (6.6) (1.0) Adjusted Net Income   $22.4 $19.2

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Free Cash Flow Reconciliation 2021 2022 2023 2024 Full Year $MM Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2021 2022 2023 Net Cash provided by Operating Activities $4.8 $12.1 $14.6 $21.8 $13.8 $13.3 $25.3 $21.8 $20.8 $20.0 $28.0 $34.9 $24.8 $53.3 $74.2 $103.6 Capital expenditures                           Cash paid for property and equipment (0.6) (0.3) (0.9) (0.9) (0.6) (1.3) (0.8) (0.6) (0.5) 0.4 (0.9) (0.2) (0.1) (2.9) (3.2) (0.7) Cash paid for capitalized software development costs (1) (4.6) (5.2) (5.2) (5.7) (7.0) (5.1) (8.7) (7.4) (13.2) (10.4) (13.1) (12.9) (11.0) (20.6) (33.6) (50.1) Total capital expenditures (5.2) (5.5) (6.1) (6.7) (7.6) (6.3) (9.5) (7.9) (13.7) (10.0) (14.0) (13.1) (11.1) (23.5) (36.8) (50.8) Free Cash Flow ($0.4) $6.6 $8.5 $15.2 $6.2 $7.0 $15.9 $13.9 $7.1 $10.0 $13.9 $21.8 $13.7 $29.8 $37.4 $52.8 Adjusted EBITDA $20.5 $20.4 $24.5 $27.8 $29.3 $27.6 $31.7 $35.9 $30.9 $30.3 $31.9 $33.5 $35.5 $93.2 $124.5 $126.8 Free Cash Flow Conversion(2) (2%) 32% 35% 54% 21% 25% 50% 39% 23% 33% 44% 65% 38% 32% 30% 42% Historical periods beginning Q3 2023 reflect cash paid for intangibles assets that exclude acquisition costs that are capitalized as channel relationships Represents Free Cash Flow / Adjusted EBITDA

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Depreciation and Amortization Detail Note Adjusted Net Income is adjusted to exclude amortization of all acquisition-related intangibles as such amounts are inconsistent in amount and frequency and are significantly impacted by the timing and/or size of acquisitions (see corresponding adjustments in the reconciliation of net income to Adjusted Net Income presented above). Management believes that the adjustment of acquisition-related intangible amortization supplements GAAP financial measures because it allows for greater comparability of operating performance. Although REPAY excludes amortization from acquisition-related intangibles from its non-GAAP expenses, management believes that it is important for investors to understand that such intangibles were recorded as part of purchase accounting and contribute to revenue generation. Amortization of intangibles that relate to past acquisitions will recur in future periods until such intangibles have been fully amortized. Any future acquisitions may result in the amortization of additional intangibles $MM Q1 2024 Q1 2023 Acquisition-related intangibles $19.7 $19.9 Software 6.7 5.5 Amortization $26.4 $25.4 Depreciation 0.6 0.7 Total Depreciation and Amortization $27.0 $26.1

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Revenue and Gross Profit Growth Reconciliations Q1 2024 $MM Consumer Payments Business Payments Total Company Revenue Growth 9% 12% 8% Acquisitions / (Divestitures) impact (2%) n/a (2%) Organic Revenue Growth 11% 12% 10% Political Media contribution / (impact) n/a 6% 1% Organic Revenue Growth, excl. political media 11% 6% 9% Q1 2024 $MM Consumer Payments Business Payments Total Company Gross Profit Growth 9% 17% 9% Acquisitions / (Divestitures) impact (2%) n/a (2%) Organic Gross Profit Growth 11% 17% 11% Political Media contribution / (impact) n/a 7% 1% Organic GP Growth, excl. political media 11% 10% 10%

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Gross Profit Growth Reconciliation 2023 2024 $MM Q1 Q2 Q3 Q4 FY Q1 Gross Profit Growth 11% 8% 3% 2% 6% 9% Acquisitions / (Divestitures) impact (2%) (4%) (6%) (6%) (4%) (2%) Organic Gross Profit Growth 13% 12% 9% 8% 10% 11% Political Media contribution / (impact) (<1%) (2%) (3%) (5%) (3%) 1% Organic GP Growth excl. political media 13% 14% 12% 13% 13% 10%

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Historical Segment Details Note: Historical periods reflect the reclassification of revenue and gross profit between Consumer Payments and Business Payments segments 2022 2023 2024 Full Year $MM Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2022 2023 Consumer Payments $61.1 $59.8 $63.0 $64.3 $69.9 $65.9 $68.7 $71.1 $76.1 $248.2 $275.7 Business Payments 8.9 9.9 11.4 12.3 8.7 9.8 9.7 9.9 9.7 42.6 38.1 Intercompany eliminations (2.4) (2.3) (2.9) (4.0) (4.1) (4.0) (4.1) (5.0) (5.1) (11.6) (17.1) Revenue $67.6 $67.4 $71.6 $72.7 $74.5 $71.8 $74.3 $76.0 $80.7 $279.2 $296.6 Consumer Payments $47.5 $46.1 $49.7 $53.1 $54.6 $51.7 $53.6 $56.2 $59.6 $195.5 $216.1 Business Payments 5.9 7.0 8.1 8.6 6.0 7.2 7.2 7.5 7.0 30.4 28.0 Intercompany eliminations (2.4) (2.3) (2.9) (4.0) (4.1) (4.0) (4.1) (5.0) (5.1) (11.6) (17.1) Gross Profit $51.0 $50.7 $54.9 $57.8 $56.6 $54.9 $56.7 $58.7 $61.5 $214.4 $226.9 Consumer Payments 77.8% 77.0% 79.0% 82.6% 78.1% 78.4% 78.0% 79.0% 78.3% 78.8% 78.4% Business Payments 66.5% 70.0% 70.4% 70.1% 69.5% 73.3% 74.1% 76.6% 72.8% 71.4% 73.5% Gross Profit Margin 75.5% 75.2% 76.8% 79.5% 75.9% 76.5% 76.3% 77.3% 76.2% 76.8% 76.5%

Investor Presentation Exhibit 99.3 May 2024

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Disclaimer On July 11, 2019 (the “Closing Date”), Thunder Bridge Acquisition Ltd. (“Thunder Bridge”) and Hawk Parent Holdings LLC (“Hawk Parent”) completed a business combination (the “Business Combination”) under which Thunder Bridge acquired Hawk Parent, upon which Thunder Bridge changed its name to Repay Holdings Corporation (“REPAY” or the “Company”). The Company’s filings with the Securities and Exchange Commission (“SEC”), which you may obtain for free at the SEC’s website at http://www.sec.gov, discuss some of the important risk factors that may affect REPAY’s business, results of operations and financial condition. Forward-Looking Statements This presentation (the “Presentation”) contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements about future financial and operating results, REPAY’s plans, objectives, expectations and intentions with respect to future operations, products and services; and other statements identified by words such as “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimated,” “believe,” “intend,” “plan,” “projection,” “outlook” or words of similar meaning. These forward-looking statements include, but are not limited to, expected demand on REPAY’s product offering, including further implementation of electronic payment options and statements regarding REPAY’s market and growth opportunities, and our business strategy and the plans and objectives of management for future operations. Such forward-looking statements are based upon the current beliefs and expectations of REPAY’s management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. In addition to factors previously disclosed in REPAY’s reports filed with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2023 and subsequent Form 10-Qs, the following factors, among others, could cause actual results and the timing of events to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: exposure to economic conditions and political risk affecting the consumer loan market, the receivables management industry and consumer and commercial spending, including bank failures or other adverse events affecting financial institutions, inflationary pressures, general economic slowdown or recession; changes in the payment processing market in which REPAY competes, including with respect to its competitive landscape, technology evolution or regulatory changes; changes in the vertical markets that REPAY targets, including the regulatory environment applicable to REPAY’s clients; the ability to retain, develop and hire key personnel; risks relating to REPAY’s relationships within the payment ecosystem; risk that REPAY may not be able to execute its growth strategies, including identifying and executing acquisitions; risks relating to data security; changes in accounting policies applicable to REPAY; and the risk that REPAY may not be able to maintain effective internal controls. Actual results, performance or achievements may differ materially, and potentially adversely, from any projections and forward-looking statements and the assumptions on which those forward-looking statements are based. There can be no assurance that the data contained herein is reflective of future performance to any degree. You are cautioned not to place undue reliance on forward-looking statements as a predictor of future performance. All information set forth herein speaks only as of the date hereof in the case of information about us or the date of such information in the case of information from persons other than us, and we disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication. Forecasts and estimates regarding our industry and end markets are based on sources we believe to be reliable, however there can be no assurance these forecasts and estimates will prove accurate in whole or in part. Projected and estimated numbers are used for illustrative purpose only, are not forecasts and may not reflect actual results. Industry and Market Data The information contained herein also includes information provided by third parties, such as market research firms. Neither of REPAY nor its affiliates and any third parties that provide information to REPAY, such as market research firms, guarantee the accuracy, completeness, timeliness or availability of any information. Neither REPAY nor its affiliates and any third parties that provide information to REPAY, such as market research firms, are responsible for any errors or omissions (negligent or otherwise), regardless of the cause, or the results obtained from the use of such content. Neither REPAY nor its affiliates give any express or implied warranties, including, but not limited to, any warranties of merchantability or fitness for a particular purpose or use, and they expressly disclaim any responsibility or liability for direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees or losses (including lost income or profits and opportunity costs) in connection with the use of the information herein. Non-GAAP Financial Measures This Presentation includes certain non-GAAP financial measures that REPAY’s management uses to evaluate its operating business, measure its performance and make strategic decisions. Adjusted EBITDA is a non-GAAP financial measure that represents net income prior to interest expense, tax expense, depreciation and amortization, as adjusted to add back certain charges deemed not to be part of normal operating expenses, non-cash and/or non-recurring charges, such as loss on extinguishment of debt, loss on termination of interest rate hedge, non-cash change in fair value of contingent consideration, non-cash change in fair value of assets and liabilities, non-cash change in fair value of warrant liabilities; share-based compensation charges, transaction expenses, restructuring and other strategic initiative costs and other non-recurring charges. Each of “organic card payment volume growth,” “organic revenue growth,” and “organic gross profit (GP) growth” is a non-GAAP financial measure that represents the percentage change in the applicable metric for a fiscal period over the comparable prior fiscal period, exclusive of any incremental amount attributable to acquisitions or divestitures made in the comparable prior fiscal period or any subsequent fiscal period through the applicable current fiscal period. Any financial measure (whether GAAP or non-GAAP) that is modified by “excl. political media” or “normalized” (such as Normalized Organic GP Growth) is a non-GAAP financial measure that measures a defined growth rate exclusive of the estimated contribution from political media clients in the prior corresponding period. Free Cash Flow is a non-GAAP financial measure that represents net cash flow provided by operating activities less total capital expenditures. Free Cash Flow Conversion represents Free Cash Flow divided by Adjusted EBITDA. REPAY believes that each of the non-GAAP financial measures referenced in this paragraph provide useful information to investors and others in understanding and evaluating its operating results in the same manner as management. However, these non-GAAP financial measures are not financial measures calculated in accordance with GAAP and should not be considered as a substitute for net income, operating profit, or any other operating performance measure calculated in accordance with GAAP. Using these non-GAAP financial measures to analyze REPAY’s business has material limitations because the calculations are based on the subjective determination of management regarding the nature and classification of events and circumstances that investors may find significant. In addition, although other companies in REPAY’s industry may report measures titled with the same or similar descriptions, such non-GAAP financial measures may be calculated differently from how REPAY calculates its non-GAAP financial measures, which reduces their overall usefulness as comparative measures. Because of these limitations, you should consider each of the non-GAAP financial measures referenced in this paragraph alongside other financial performance measures, including net income and REPAY’s other financial results presented in accordance with GAAP.

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2 Agenda Introduction to REPAY REPAY Investment Highlights REPAY Financial Overview 1 2 3

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1 Introduction to REPAY

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REPAY’s proprietary, integrated payment technology platform reduces the complexity of electronic payments for clients, while enhancing the overall experience for consumers and businesses REPAY provides integrated payment processing solutions to verticals that have specific transaction processing needs

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AUTO FINANCE PERSONAL FINANCE AR AUTOMATION CREDIT UNIONS HEALTHCARE MORTGAGE ARM AP AUTOMATION Your Industry. Our Expertise. CONSUMER PAYMENTS BUSINESS PAYMENTS

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Who We Are A leading, highly-integrated omnichannel payment technology platform modernizing Consumer and Business Payments CAGR is from 2021A–2023A As of 3/31/2024 Free Cash Flow Conversion calculated as 2023A Free Cash Flow / 2023A Adjusted EBITDA. These are non-GAAP measures. See slide 1 for definitions and slides 30 and 31 for additional details 2023 ANNUAL CARD PAYMENT VOLUME HISTORICAL GROSS PROFIT CAGR(1) SOFTWARE INTEGRATIONS(2) $25.7Bn 18% 266 42% FREE CASH FLOW CONVERSION(3)

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LONG-TERM GROWTH ORGANIC GROWTH M&A CATALYSTS Deepen presence in existing verticals (e.g. Automotive, B2B, Credit Unions, Revenue Cycle Management, Healthcare) Expand into new verticals/geographies Transformational acquisitions extending broader solution suite Driving Shareholder Value 1) Third-party research and management estimates as of 3/31/2024 Secular trends away from cash and check toward digital payments Transaction growth in key verticals Further penetrate existing clients ~$5.2Tn TAM(1)Creates long runway for growth Deep presence in key verticals creates significant defensibility Highly attractivefinancial model = +

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Our Strong Execution and Momentum TOTAL ADDRESSABLE MARKET ~$535Bn ~$5.2Tn(3) SUPPLIER NETWORK _ ~279,000 # OF ISV INTEGRATIONS 53 266 Delivering Superior Results (4) First Quarter 2024(2) July 2019(1) REVENUE GROSS PROFIT ADJ. EBITDA +16% +18% As of 7/11/2019 (the closing date of the Business Combination) As of 3/31/2024 Third-party research and management estimates Represents CAGR from 2021A-2023A +17%

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Driving Value for Shareholders Fast growing, large and underpenetrated market opportunity Deep presence in key verticals drives competitive moat Highly strategic and diverse client base Multiple avenues for long term, durable growth Experienced Board and Management team Highly attractive and profitable financial model Accelerating cash flow generation Strong balance sheet Investment Rationale

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2 REPAY Investment Highlights

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1 A leading, omnichannel payment technology provider Fast growing and underpenetrated market opportunity Vertically integrated payment technology platform driving frictionless payments experience Experienced board with deep payments expertise Multiple avenues for long-term growth Highly strategic and diverse client base 2 3 4 5 6 Key software integrations enabling unique distribution model Business Strengths and Strategies

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1 We are Capitalizing on Large, Underserved Market Opportunities REPAY’s existing verticals represent ~$5.2Tn(1) of projected annual total payment volume END MARKET OPPORTUNITIES Healthcare $185Bn $70Bn $420Bn $500Bn $70Bn $600Bn $1.2Tn $2.2Tn Credit Unions ARM Mortgage Personal Loans Automotive Loans AR Automation AP Automation Future New Verticals Expand New & Existing Software Partnerships Buy Now. Pay Later. Growth Opportunities $25.7Bn REPAY’s 2023 Annual Card Payment Volume 1) Third-party research and management estimates as of 3/31/2024 Business Payments Consumer Payments

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1 Key end markets have been underserved by payment technology and service providers Credit cards are not permitted in loan repayment which has resulted in overall low card penetration CLIENTS SERVING REPAY’S MARKETS ARE FACING INCREASING DEMAND FROM CUSTOMERS They want electronic and omnichannel payment solutions LOAN REPAYMENT, B2B, AND HEALTHCARE MARKETS Lagged behind other industry verticals in moving to electronic payments CONSUMER PAYMENTS BUSINESS PAYMENTS B2B payments have traditionally been made via check or ACH (including AP and AR) Shift towards high deductible health plans resulting in growing proportion of consumer payments

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Card and Debit Payments Underpenetrated in Our Verticals The Nilson Report. Represents debit and credit as a percentage of all U.S. consumer payment systems, including various forms of paper, card, and electronic payment methods Third-party research and management estimates. Personal Loans and Mortgage verticals represent debit card only. Across REPAY’s Verticals(2) Card Payment Penetration Across Industries(1) 1 <

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REPAY Has Built a Leading Next-Gen Software Platform Proprietary, integrated payment technology platform reduces complexity for a unified commerce experience Pay Anywhere, Any Way, Any Time Businesses and Consumers Clients 2

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REPAY Has Built a Leading Next-Gen Software Platform Value Proposition to REPAY’s Clients Accelerated payment cycle (ability to lend more / faster) through card processing Faster access to funds to help businesseswith working capital 24 / 7 payment acceptance through “always open” omnichannel offering Direct software integrations into loan,dealer, and business management systems reduces operational complexity for client Improved regulatory compliance through fewer ACH returns 2 Clients Pay Anywhere, Any Way, Any Time

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Value Proposition to REPAY’s Clients’ End Customers Self-service capabilities through ability to pay anywhere, any way and any time, 24 / 7 Option to make real-time payments through use of card transactions Immediate feedback that payment has been processed Omnichannel payment methods (e.g., Web, Mobile, IVR, Text) Fewer ancillary charges (e.g., NSF fees) for borrowers through automatic recurring online debit card payments 2 Pay Anywhere, Any Way, Any Time Businesses and Consumers REPAY Has Built a Leading Next-Gen Software Platform

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Consumer Payments Offering Omnichannel Capabilities across Modalities 2 Clients in REPAY’s verticals look to partner with innovative vendors that can provide evolving payment functionality and acceptance solutions Credit and Debit Card Processing ACH Processing Instant Funding eCash New & Emerging Payments Virtual Terminal IVR / Phone Pay Mobile Application Web Portal / Online Bill Pay Hosted Payment Page POS Equipment Text Pay PAYMENT MODALITIES PAYMENT CHANNELS REPRESENTATIVE CLIENTS

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Powerful Business Payments Offering 2 One-stop-shop B2B payments solutions provider Automated Reporting and Reconciliation Multiple Payment Options Including Virtual Card and Cross Border Vendor Management Client Rebates Deep ERP Integrations Multiple Payment Methods Tracking and Reconciliation Highly Secure ACCOUNTS RECEIVABLE AUTOMATION ACCOUNTS PAYABLE AUTOMATION TotalPay Solution Cash Inflow Cash Outflow Buyers Suppliers One-stop-shop B2B payments solutions provider REPRESENTATIVE CLIENTS

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Key Software Integrations Accelerate Distribution REPAY leverages a vertically tiered sales strategy supplemented by software integrations to drive new client acquisitions Tier 3 (Direct Sales) $5MM+ Monthly Volume Tier 2 (Direct Sales) $1MM – $5MM Monthly Volume Tier 1 (Call Center) <$1MM Monthly Volume Sales Support Team NUMBER OF SOFTWARE INTEGRATION PARTNERS (1) Sales Strategy / Distribution Model 3 37% CAGR Software Integrations Management estimate as of 3/31/2024

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Attractive and Diverse Client Base Across Key Verticals REPAY’s platform provides significant value to our clients offering solutions across a variety of industry verticals Healthcare Other ARM B2B Loan Repayment ~20%of card paymentvolume(2) 4 Management estimate as of 3/31/2024. Reflects the reclassification of partnerships between Consumer Payments and Business Payments segments Management estimate as of 12/31/2023, which includes normalization for political media contributions Percentage of Card Payment Volume (2) One-stop shop B2B payments solutions provider, offering AP automation and AR merchant acquiring solutions Integrations with ~94(1) leading ERP platforms, serving a highly diversified client base across a wide range of industry verticals AP: Media, Healthcare, Home Services & Property Management, Auto, Municipality, and Other AR: Manufacturing, Distribution, and Hospitality BUSINESS PAYMENTS CONSUMER PAYMENTS ~80% Blue chip ISV partnerships with ~172(1) integrations Market leader in several niche verticals, including the following: Personal Finance Auto Finance Credit Unions ARM Healthcare Mortgage Diversified Retail & Other RCS: Best-in-class clearing & settlement solutions for ~30(1) ISOs and owned clients Expansions into adjacent Buy-Now-Pay-Later vertical as well as Canada ~20%

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Demonstrated Ability to Acquire and Successfully Integrate Businesses Represents a significant opportunity to enhance organic growth in existing verticals and accelerate entry into new markets and services Extend Solution Set viaNew Capabilities New Vertical Expansion Deepen Presence inExisting Verticals Back-end transaction processing capabilities, which enhance M&A strategy Value-add complex exception processing capabilities Expansion into the Healthcare, Automotive, Receivables Management, B2B Acquiring, B2B Healthcare, Mortgage Servicing, B2B AP Automation, BNPL verticals Accelerates expansion into Automotive, Credit Union and Receivables Management verticals THEME Demonstrated ability to source, acquire, and integrate various targets across different verticals Dedicated team to manage robust M&A pipeline ACQUISITIONS RATIONALE 5 2017 2019 2016 2017 * 2019 * 2020 2020 * * 2020 * 2020 * 2021 2021 * * 2021 * 2021 * 2021 * *Completed since becoming a public company *

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Majority of growth within Consumer Payments is derived from further penetration of existing client base. Majority of growth within Business Payments is derived from acquiring new clients. Multiple Levers to Continue to Drive Growth EXPAND USAGE AND INCREASE ADOPTION (1) ACQUIRE NEW CLIENTS IN EXISTING VERTICALS (2) OPERATIONAL EFFICIENCIES FUTURE MARKET EXPANSION OPPORTUNITIES STRATEGIC M&A REPAY’s leading platform & attractive market opportunity position it to build on its record of robust growth & profitability EXECUTE ON EXISTING BUSINESS BROADEN ADDRESSABLE MARKET AND SOLUTIONS 5

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Richard Thornburgh Senior Advisor, Corsair Bob Hartheimer Senior Advisor, Klaros Group Experienced Board with Deep Payments Expertise John Morris CEO & Co-Founder Shaler Alias President & Co-Founder William Jacobs Former Board Member, Global Payments Board Member, Green Dot Former SVP, Mastercard Peter Kight Chairman, Founder of CheckFree Former Vice Chairman, Fiserv Paul Garcia Former Chairman and CEO, Global Payments Maryann Goebel Former CIO, Fiserv 9-member board of directors comprised of industry veterans and influential leaders in the financial services and payment industries Emnet Rios CFO, Digital Asset 6

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3 REPAY Financial Overview

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Financial Highlights Low volume attrition and low risk portfolio Differentiated technology platform & ecosystem Deeply integrated with client base Recurring transaction / volume-based revenue 2023 ANNUAL CARD PAYMENT VOLUME $25.7B SOFTWAREINTEGRATIONS(1) 266 FREE CASH FLOWCONVERSION(2) 42% HISTORICAL REVENUE CAGR(3) 16% HISTORICAL GROSS PROFIT CAGR(3) 18% HISTORICAL ADJUSTED EBITDA CAGR(3) 17% REPAY’s Unique Model Translates Into A Highly Attractive Financial Profile As of 3/31/2024 Free Cash Flow Conversion calculated as 2023A Free Cash Flow / 2023A Adjusted EBITDA. These are non-GAAP measures. See slide 1 under “Non-GAAP Financial Measures” and see slides 30 and 31 for reconciliations CAGR is from 2021A-2023A

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Total Card Payment Volume ($Bn) Revenue ($MM) Significant Volume and Revenue Growth… REPAY has generated strong, consistent volume growth, resulting in ~$25.7Bn in annual card processing volume in 2023 REPAY’s revenue growth has been strong, resulting in 16% CAGR from 2021 to 2023 1.07% 1.09% 1.16% 12% CAGR 16% CAGR Take Rate (1) Take rate represents revenue / card payment volume

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Gross Profit ($MM)(1) Adjusted EBITDA ($MM)(2) ...Translating into Accelerating Profitability… Gross margins continue to improve from processing cost savings Highly scalable platform with attractive margins 75% 77% 77% 43% % Margin 45% 43% % Margin Gross profit represents revenue less costs of services These are non-GAAP measures. See slide 1 under “Non-GAAP Financial Measures” and see slide 30 for reconciliation 17% CAGR 18% CAGR

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Consumer Payments Business Payments …Across Our Segments 15% y/y organic growth (2) Gross Profit Margin 78.8% 78.4% Take Rate 1.23% 1.29% Take rate represents revenue / card payment volume Organic growth is a non-GAAP financial measure. See slide 1 under “Non-GAAP Financial Measures” and slide 32 for reconciliation Business Payments revenue and gross profits excl. political media is a non-GAAP financial measure. See slide 1 under “Non-GAAP Financial Measures” and slide 32 for reconciliation Gross Profit Margin 71.4% 73.5% Take Rate 0.78% 0.90% (1) (1) 16% y/y organic growth (2) (11% reported growth) (11% reported growth) 3% y/y growth, excl. political media (3) (-11% reported growth) 10% y/y growth, excl. political media (3) (-8% reported growth)

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Adjusted EBITDA Reconciliation For the years ended December 31, 2023, 2022 and 2021, reflects amortization of client relationships, non-compete agreement, software, and channel relationship intangibles acquired through the Business Combination, and client relationships, non-compete agreement, and software intangibles acquired through our acquisitions of TriSource, APS, Ventanex, cPayPlus, CPS, BillingTree, Kontrol and Payix. This adjustment excludes the amortization of other intangible assets which were acquired in the regular course of business, such as capitalized internally developed software and purchased software. Reflects the loss recognized related to the disposition of BCS. Reflects write-offs of debt issuance costs relating to Term Loans. Reflects realized loss of our interest rate hedging arrangement which terminated in conjunction with the repayment of Term Loans. Reflects the changes in management’s estimates of future cash consideration to be paid in connection with prior acquisitions from the amount estimated as of the most recent balance sheet date. For the year ended December 31, 2023, reflects non-cash goodwill impairment loss related to the Business Payments segment and impairment loss related to a trade name write-off of Media Payments. For the year ended December 31, 2022, reflects impairment loss related to trade names write-offs of BillingTree and Kontrol. For the year ended December 31, 2021, reflects impairment loss related to trade names write-offs of TriSource, APS, Ventanex, cPayPlus and CPS. For the year ended December 31, 2023, reflects the changes in management’s estimates of (i) the fair value of the liability relating to the Tax Receivable Agreement, and (ii) non-cash insurance reserve. For the years ended December 31, 2022 and 2021, reflects the changes in management’s estimates of the fair value of the liability relating to the Tax Receivable Agreement. Represents compensation expense associated with equity compensation plans. Primarily consists of (i) during the year ended December 31, 2023, professional service fees and other costs incurred in connection with the disposition of BCS, (ii) during the year ended December 31, 2022, professional service fees and other costs incurred in connection with the acquisitions of BillingTree, Kontrol and Payix and (iii) during the year ended December 31, 2021, professional service fees and other costs incurred in connection with the acquisitions of Ventanex, cPayPlus, CPS, BillingTree, Kontrol and Payix, as well as professional service expenses related to the January 2021 equity and convertible notes offerings. Reflects costs associated with reorganization of operations, consulting fees related to our processing services and other operational improvements, including restructuring and integration activities related to our acquired businesses, that were not in the ordinary course during the years ended December 31, 2023, 2022 and 2021. Additionally, for the year ended December 31, 2022, reflects one-time severance payments. For the year ended December 31, 2023, reflects payments made to third-parties in connection with an expansion of our personnel, franchise taxes and other non-income based taxes and one-time payments to certain partners. For the year ended December 31, 2022, reflects one-time payments to certain clients and partners, payments made to third-parties in connection with a significant expansion of our personnel, franchise taxes and other non-income based taxes, other payments related to COVID-19 and non-cash rent expense. For the year ended December 31, 2021, reflects one-time payments to certain clients and partners, other payments related to COVID-19, payments made to third-parties in connection with expansion of our personnel, franchise taxes and other non-income based taxes and non-cash rent expense. Beginning in the year ended December 31, 2023, no longer reflects non-cash rent expense. ($MM) 2021A 2022A 2023A Net Loss ($56.0) $8.7 ($117.4)         Interest Expense 3.7 4.2 1.0 Depreciation and Amortization(1) 89.7 107.8 103.9 Income Tax Benefit (30.7) 6.2 (2.1) EBITDA $6.6 $126.9 ($14.6)         Loss on business disposition (2) – – 10.0 Loss on extinguishment of debt(3) 5.9 – – Loss on termination of interest rate hedge(4) 9.1 – – Non-cash change in fair value of contingent consideration(5) 5.8 (3.3) – Non-cash impairment loss(6) 2.2 8.1 75.8 Non-cash change in fair value of assets and liabilities(7) 14.1 (66.9) 7.5 Share-based compensation expense(8) 22.3 20.5 22.2 Transaction expenses(9) 19.3 19.0 8.5 Restructuring and other strategic initiative costs(10) 4.6 7.9 11.9 Other non-recurring charges(11) 3.3 12.3 5.5 Adjusted EBITDA $93.2 $124.5 $126.8

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Free Cash Flow Reconciliation Excludes acquisition costs that are capitalized as channel relationships. Represents Free Cash Flow / Adjusted EBITDA. ($MM) 2022A 2023A Net Cash provided by Operating Activities $74.2 $103.6 Capital expenditures     Cash paid for property and equipment (3.2) (0.7) Cash paid for intangible assets (33.6) (50.1) Total capital expenditures(1) (36.8) (50.8) Free Cash Flow $37.4 $52.8 Adjusted EBITDA $124.5 $126.8     Free Cash Flow conversion(2) 30% 42%

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2023 Growth Reconciliation FY 2023 $MM Consumer Payments Business Payments Total Company Revenue Growth 11% (11%) 6% Growth from Acquisitions / (Divestitures) (4%) n/a (4%) Organic Revenue Growth 15% (11%) 10% Growth from Political Media n/a (14%) (2%) Organic Revenue Growth, excl. political media 15% 3% 12% FY 2023 $MM Consumer Payments Business Payments Total Company Gross Profit Growth 11% (8%) 6% Growth from Acquisitions / (Divestitures) (5%) n/a (4%) Organic Gross Profit Growth 16% (8%) 10% Growth from Political Media n/a (18%) (3%) Organic GP Growth, excl. political media 16% 10% 13%

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Thank you