Repay Holdings Corp Segments Disclosure
15. Segments
The Company organizes its business structure around two operating segments based on review of discrete financial results for each of the operating segments by the Company’s chief operating decision maker (“CODM”), for performance assessment and resource allocation purposes. Each of the Company’s operating segments represents a reportable segment based on ASC 280, Segment Reporting. The Company’s two reportable segments are as follows: (1) Consumer Payments and (2) Business Payments. For both segments, the CODM uses the segment gross profit to allocate resources (including employees, property, and financial or capital resources) and assess performance of each segment predominantly in the annual budget and forecasting process. The CODM considers budget-to-actual variances on a monthly basis for the gross profit measure when making decisions about allocating capital and personnel to the segments.
The following table presents revenue, cost of services and gross profit for each reportable segment.
|
|
Year Ended December 31, |
|
|||||||||
($ in thousand) |
|
2025 |
|
|
2024 |
|
|
2023 |
|
|||
Revenue |
|
|
|
|
|
|
|
|
|
|||
Consumer Payments |
|
$ |
285,884 |
|
|
$ |
280,966 |
|
|
$ |
275,708 |
|
Business Payments |
|
|
48,413 |
|
|
|
52,923 |
|
|
|
38,058 |
|
Elimination of intersegment revenues (1) |
|
|
(25,036 |
) |
|
|
(20,847 |
) |
|
|
(17,139 |
) |
Total revenue |
|
$ |
309,261 |
|
|
$ |
313,042 |
|
|
$ |
296,627 |
|
Cost of services (exclusive of depreciation and amortization) |
|
|
|
|
|
|
|
|
|
|||
Consumer Payments |
|
$ |
62,129 |
|
|
$ |
57,859 |
|
|
$ |
59,612 |
|
Business Payments |
|
|
15,114 |
|
|
|
13,777 |
|
|
|
10,091 |
|
Total cost of services (exclusive of depreciation and amortization) |
|
$ |
77,243 |
|
|
$ |
71,636 |
|
|
$ |
69,703 |
|
Gross profit (2) |
|
|
|
|
|
|
|
|
|
|||
Consumer Payments |
|
$ |
223,755 |
|
|
$ |
223,107 |
|
|
$ |
216,096 |
|
Business Payments |
|
|
33,299 |
|
|
|
39,146 |
|
|
|
27,967 |
|
Elimination of intersegment revenues |
|
|
(25,036 |
) |
|
|
(20,847 |
) |
|
|
(17,139 |
) |
Total gross profit |
|
$ |
232,018 |
|
|
$ |
241,406 |
|
|
$ |
226,924 |
|
|
|
|
|
|
|
|
|
|
|
|||
Total other operating expenses (3) |
|
$ |
486,740 |
|
|
$ |
249,176 |
|
|
$ |
338,337 |
|
Total other income (expense) |
|
|
(22,235 |
) |
|
|
(3,150 |
) |
|
|
(8,122 |
) |
Loss before income tax benefit |
|
|
(276,957 |
) |
|
|
(10,920 |
) |
|
|
(119,535 |
) |
Income tax benefit |
|
|
5,869 |
|
|
|
575 |
|
|
|
2,115 |
|
Net loss |
|
$ |
(271,088 |
) |
|
$ |
(10,345 |
) |
|
$ |
(117,420 |
) |
Revenue and costs of services are attributed directly to each segment. There is no significant concentration of revenue or assets in foreign countries as of December 31, 2025. The CODM reporting package does not include interest income, interest expense, depreciation and amortization, income tax benefit (expense) and discrete asset details of the operating segments as this information is not considered by the CODM for resource allocation or other segment analysis purposes.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 9, 2026 | Showing above |
| 2024 | Mar 3, 2025 | |
| 2023 | Feb 29, 2024 | |
| 2022 | Mar 1, 2023 | |
| 2020 | Mar 1, 2021 | |
| 2019 | Mar 16, 2020 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.