Filing Flows › Repay Holdings (RPAY) › Q3 2025
Repay Holdings (RPAY) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 10, 2025
Repay Holdings (RPAY) reported revenue of $77.7M for the third quarter 2025 (Q3 2025), -2% from a year earlier and +3% from the quarter before. Operating margin was -3.9%, net loss $6.6M (8.5% of revenue).
Repay Holdings, Q3 2025: revenue $77.7M (-2% year over year), operating margin -3.9%, net loss $6.6M, operating cash flow $32.2M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $77.7M | +3% | -2% |
| Operating profit | −$3.0M | — | — |
| Net earnings | −$6.6M | — | — |
| Operating cash flow | $32.2M | -3% | -46% |
| Free cash flow | $20.8M | — | -57% |
What changed
Revenue was $77.7M in Q3 2025, down 2% year over year and up 3% from the previous quarter.
Gross margin was 74.4%, down 3.4 points from a year earlier. Operating costs exceeded revenue by $3.0M, an operating margin of -3.9%. Operating expenses fell 2% while revenue fell 2%. The quarter ended with a net loss of $6.6M, narrower than the previous quarter's $108.0M loss. Minority interests bore $203K of it: to shareholders the quarter was a loss of $6.4M. Net interest and other expense of $5.4M was the main reason.
Operating cash flow was $32.2M (down 46% year over year). Non-cash charges added back $25.6M of depreciation and amortization and $5.5M of share-based compensation. Working capital and other items added $7.7M. After capitalized software development costs ($11.3M) and cash paid for property and equipment ($122K), free cash flow as the company reports it was $20.8M.
Questions
What was Repay Holdings' revenue in the third quarter 2025?
Repay Holdings (RPAY) reported revenue of $77.7M for the third quarter 2025 (Q3 2025), -2% from a year earlier and +3% from the quarter before.
Was Repay Holdings profitable in the third quarter 2025?
Operating loss was $3.0M (-3.9% of revenue) and net loss $6.6M.
Source: Repay Holdings 10-Q on SEC EDGAR.