Repay Holdings Corporation (NASDAQ: RPAY) reported its financial results for the third quarter ended September 30, 2026. The company announced reported GAAP revenue of $153.4 million for the quarter, representing a 97% year-over-year increase. Organic revenue growth was reported at 14%, with a 9-point contribution attributed to political media revenue.
Repay highlighted performance across its two reportable segments. Consumer Payments revenue increased 91% year-over-year to $137.0 million. Within this segment, the KUBRA acquisition contributed approximately $65 million of revenue, representing 8% year-over-year growth. Business Payments revenue grew 99% year-over-year to $23.9 million, which included a $3 million contribution from an investment in a bank reseller channel partnership.
Regarding cost management, Repay stated it is realizing KUBRA cost synergies ahead of plan. The company updated its expected annualized cost synergy run-rate exiting 2026 to $11 million, up from the prior guidance of $8 million.
For the full year 2026, Repay reiterated its outlook for revenue between $490 million and $500 million and adjusted EBITDA between $168.5 million and $176 million. However, the company updated its normalized organic revenue growth outlook to a range of 5% to 6%, down from the previous 7% to 9% range. The company also revised its free cash flow conversion targets to a range of 20% to 25% and adjusted free cash flow conversion to 25% to 30%, reflecting a $19 million investment in the bank channel partnership in the second half of the year.
As of September 30, 2026, Repay reported net leverage of 3.8x and liquidity of approximately $164 million, which included $64 million in operating cash and an undrawn $100 million revolving credit facility.
