Filing Flows › Paymentus Holdings (PAY) › Q3 2025
Paymentus Holdings (PAY) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 4, 2025
Paymentus Holdings (PAY) reported revenue of $311M for the third quarter 2025 (Q3 2025), +34% from a year earlier and +11% from the quarter before. Operating margin was 6.4%, net earnings $17.7M (5.7% of revenue).
Paymentus Holdings, Q3 2025: revenue $311M (+34% year over year), operating margin 6.4%, net earnings $17.7M, operating cash flow $35.1M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $311M | +11% | +34% |
| Gross profit | $74.8M | +5% | +23% |
| Operating profit | $19.9M | +25% | +64% |
| Net earnings | $17.7M | +21% | +23% |
| Operating cash flow | $35.1M | +11% | +421% |
| Free cash flow | $25.7M | — | — |
What changed
Revenue was $310.7M in Q3 2025, up 34% year over year and up 11% from the previous quarter. Payment Transaction Processing Revenue was the largest line at 99% of revenue. Payment Transaction Processing Revenue added $79.5M year over year (up 35%), 100% of the total change. Other declined 16%.
Gross margin was 24.1%, down 2.1 points from a year earlier. Operating profit was $19.9M, a 6.4% margin (up 1.2 points year over year). Of the extra revenue versus a year earlier, 10% reached operating profit, above the 5% margin then. Operating expenses grew 13% against revenue growth of 34%. The fastest-growing cost line was General & admin (+60%). Net earnings were $17.7M, up 23% year over year. The effective tax rate was 21.5%.
Operating cash flow was $35.1M (up 421% year over year), 198% of net earnings. Non-cash charges added back $10.3M of depreciation and amortization and $5.2M of share-based compensation. Working capital and other items added $1.9M. After capitalized internal-use software development costs ($9.2M) and purchases of property and equipment ($103K), free cash flow as the company reports it was $25.7M.
Questions
What was Paymentus Holdings' revenue in the third quarter 2025?
Paymentus Holdings (PAY) reported revenue of $311M for the third quarter 2025 (Q3 2025), +34% from a year earlier and +11% from the quarter before.
Was Paymentus Holdings profitable in the third quarter 2025?
Operating profit was $19.9M (6.4% of revenue) and net earnings $17.7M.
Source: Paymentus Holdings 10-Q on SEC EDGAR.