Profitable Growth
Repay Holdings Corporation closed out the year with another quarter of profitable growth. Adjusted EBITDA increased approximately 9%, and free cash flow conversion improved to 64% in Q4. Full-year results showcased gross profit growth of 6%, adjusted EBITDA growth of 11%, and free cash flow conversion from 42% in 2023 to 75% in 2024.
Business Payments Segment Growth
The business payments segment gross profit grew 60% year over year in Q4 and 40% for the full year. Growth was driven by strength in the core AP business and contributions from the political media vertical.
Expansion and New Partnerships
Repay Holdings Corporation added four new software partnerships, bringing the total to 180. The company also integrated with Worth.ai to enhance merchant underwriting and onboarding processes.
Strong Sales Pipeline
Several new clients were added, including 16 new credit unions, bringing the total to 329. The business payments segment signed several new enterprise clients, including Fairview Health Services.