Adjusted EBITDA is expected to be $33.8M to $34.3M, representing approximately 42% Adjusted EBITDA margins. Free Cash Flow is expected to be $5M to $5.5M, representing approximately 15% Free Cash Flow Conversion. Free Cash Flow expectations include seasonality related to interest payments, net working capital timing, and annual incentive payments. During the quarter, REPAY also completed a buyout of a strategic distribution partner, resulting in a one-time cash payment and positive impact to Adjusted EBITDA.
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