The company's financial position appears vulnerable, with total equity eroding from $815.1 million in 2023Q4 to $478.0 million in 2026Q1, alongside a significant $474.5 million goodwill concentration.
| Total Current Assets | 131.01M | 196.83M | 275.25M | 180.65M | 116.65M | 95.71M | 119.37M | 43.88M | 239.43K | 25.82K | 5.82M |
| Cash & Short-Term Investments | 43.77M | 115.69M | 189.53M | 118.1M | 64.89M | 50.05M | 91.13M | 24.62M | 108.82K | 25.82K | 2.78M |
| Cash Only | 43.77M | 115.69M | 189.53M | 118.1M | 64.89M | 50.05M | 91.13M | 24.62M | 108.82K | 25.82K | 2.78M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 228.41M | 36.37M | 32.95M | 36.02M | 33.54M | 33.24M | 21.31M | 14.63M | 5.98M | 0 | 2.84M |
| Days Sales Outstanding | 155.07 | 42.93 | 38.42 | 44.32 | 43.85 | 55.33 | 50.17 | 51.05 | 16.79 | - | 12.59 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -5.98M | -4.87M | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | -141.17M | 44.77M | 35.65M | 26.53M | 18.21M | -32 | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 1.01B | 1B | 1.3B | 1.34B | 1.51B | 1.59B | 990.61M | 738.16M | 263.25M | 150.51K | 158.62M |
| Property, Plant & Equipment | 9.39M | 10.11M | 13.53M | 11.16M | 14.22M | 14.3M | 11.7M | 1.61M | 1.25M | 743.28K | 441.39K |
| Fixed Asset Turnover | 29.50x | 30.59x | 23.15x | 26.59x | 19.63x | 15.33x | 13.25x | 64.94x | 104.25x | 126.40x | 186.44x |
| Goodwill | 474.51M | 474.51M | 716.79M | 716.79M | 827.81M | 824.08M | 458.97M | 389.66M | 119.53M | 119.53M | 94.05M |
| Intangible Assets | 338.34M | 329.84M | 389.03M | 447.14M | 500.57M | 577.69M | 369.23M | 333.05M | 68.22M | 73.37M | 62.53M |
| Long-Term Investments | 22.25M | 10.63M | 11.53M | 26.05M | 28.67M | 0 | 0 | 13.28M | 263.25M | 0 | 0 |
| Other Non-Current Assets | 16.55M | 4.79M | 2.5M | -8.82M | 2.5M | 28.79M | 15.37M | 13.84M | 263.25M | -193.49M | 1.6M |
| Total Assets | 1.14B | 1.2B | 1.57B | 1.52B | 1.63B | 1.69B | 1.11B | 782.04M | 263.49M | 176.33K | 164.44M |
| Asset Turnover | 0.25x | 0.26x | 0.20x | 0.20x | 0.17x | 0.13x | 0.14x | 0.13x | 0.49x | 532.81x | 0.50x |
| Asset Growth % | -71.24% | -23.68% | 3.43% | -6.58% | -3.5% | 51.88% | 41.93% | 196.8% | 149332.36% | -99.89% | - |
| Total Current Liabilities | 73.23M | 240.65M | 102.25M | 57.46M | 82.11M | 92.35M | 65.44M | 51.71M | 320.75K | 156.6K | 8.37M |
| Accounts Payable | 23.93M | 25.18M | 28.91M | 22.03M | 21.78M | 20.08M | 11.88M | 9.59M | 2.91M | 0 | 1.2M |
| Days Payables Outstanding | 144.92 | 118.97 | 147.31 | 115.36 | 122.64 | 132.12 | 104.62 | 135.23 | 922.42 | - | 8.21 |
| Short-Term Debt | 1.46M | 148.03M | 0 | 0 | 0 | 0 | 6.76M | 5.5M | 4.9M | 156.6K | 2.5M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 30.54M | -17.74M | -11.84M | 0 |
| Other Current Liabilities | 47.84M | 65.9M | 16.6M | 898K | 29.05M | 26.06M | 10.24M | -9.88M | 0 | -1.41M | 0 |
| Current Ratio | 1.79x | 0.82x | 2.69x | 3.14x | 1.42x | 1.04x | 1.82x | 0.85x | 0.75x | 0.16x | 0.69x |
| Quick Ratio | 1.79x | 0.82x | 2.69x | 3.14x | 1.42x | 1.04x | 1.82x | 0.85x | 19.39x | 31.25x | 0.69x |
| Cash Conversion Cycle | 10.14 | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 592.31M | 477.32M | 696.49M | 631.58M | 616.4M | 680.46M | 488.36M | 269.82M | 9.69M | 156.6K | 56.6M |
| Long-Term Debt | 8.23M | 280.06M | 496.78M | 434.17M | 451.32M | 448.49M | 249.95M | 207.94M | 89.32M | 0 | 56.6M |
| Capital Lease Obligations | 27.6M | 8.79M | 10.51M | 7.25M | 8.29M | 9.09M | 8.84M | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 16.31M | 0 | 0 | 768.34K | 0 | 0 | 0 |
| Other Non-Current Liabilities | 584.08M | 188.46M | 189.21M | 190.17M | 156.79M | 222.88M | 229.57M | 60.86M | 16.86K | 0 | 0 |
| Total Liabilities | 665.54M | 717.97M | 798.74M | 689.04M | 698.51M | 772.8M | 553.8M | 321.53M | 10.01M | 156.6K | 64.97M |
| Total Debt | 9.68M | 436.88M | 508.51M | 443.04M | 461.88M | 459.57M | 267.08M | 213.44M | 94.22M | 156.6K | 59.1M |
| Net Debt | -34.09M | 321.19M | 318.99M | 324.95M | 396.98M | 409.52M | 175.95M | 188.82M | 94.11M | 130.78K | 56.32M |
| Debt / Equity | 0.02x | 0.91x | 0.66x | 0.53x | 0.50x | 0.50x | 0.48x | 0.46x | 0.37x | 7.94x | 0.59x |
| Debt / EBITDA | -0.98x | 4.85x | 5.30x | - | 7.63x | 16.88x | 9.27x | - | 10.16x | 0.01x | 10.86x |
| Net Debt / EBITDA | 3.44x | 3.57x | 3.32x | - | 6.56x | 15.04x | 6.11x | - | 10.15x | 0.01x | 10.35x |
| Interest Coverage | -36.81x | -18.86x | -0.39x | -24.41x | 4.41x | -12.50x | -2.39x | -3.10x | 2.74x | 2.66x | - |
| Total Equity | 475.26M | 481.78M | 773.17M | 830.79M | 928.29M | 913.04M | 556.18M | 460.52M | 253.48M | 19.73K | 99.46M |
| Equity Growth % | -117.91% | -37.69% | -6.94% | -10.5% | 1.67% | 64.16% | 20.77% | 81.67% | 1284660.98% | -99.98% | - |
| Book Value per Share | 5.76 | 5.63 | 8.60 | 9.23 | 8.39 | 10.96 | 10.66 | 12.27 | 7.86 | 0.00 | 15.08 |
| Total Shareholders' Equity | 478M | 484.43M | 761.27M | 815.13M | 894.56M | 874M | 509.31M | 254.35M | 253.48M | 19.73K | 99.46M |
| Common Stock | 8K | 8K | 9K | 9K | 9K | 9K | 7.13K | 3.75K | 248.48M | 647 | 99.46M |
| Retained Earnings | -600.49M | -590.55M | -333.83M | -323.67M | -213.18M | -226.02M | -175.93M | -53.88M | 1.52M | -5.27K | 0 |
| Treasury Stock | 0 | -92.03M | -53.78M | -12.53M | -10M | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | -3K | -3K | -2K | -6.44M | 313.4K | -109.08M | 0 | 0 |
| Minority Interest | -2.74M | -2.65M | 11.9M | 15.65M | 33.73M | 39.03M | 46.87M | 206.16M | 0 | 0 | 0 |
Goodwill impairment and liquidity
As reported in recent quarterly filings, RPAY's total equity has declined from $815.1 million in 2023Q4 to $478.0 million in 2026Q1, signaling a significant deterioration in the company's net asset position that reflects persistent operational losses and the ongoing erosion of shareholder value over the observed period.
The consistent decline in retained earnings, which reached -$600.5 million by 2026Q1, suggests that the business model is struggling to generate sufficient returns to offset its accumulated deficit. This trajectory indicates that the company's capital base is being consumed by operational inefficiencies rather than being deployed for productive growth.
Based on the provided balance sheet data, goodwill remains a dominant component of total assets at $474.5 million as of 2026Q1, representing a substantial portion of the company's $1.1 billion asset base and highlighting a significant vulnerability to future impairment charges if acquisition synergies fail to materialize.
The heavy reliance on intangible assets suggests that the company's valuation is anchored in historical M&A activity rather than tangible infrastructure. Investors should monitor whether these assets continue to be carried at values that exceed their current cash-generating potential, as further write-downs could severely impact the equity base.
According to the latest financial statements, RPAY's current ratio plummeted from 3.14 in 2023Q4 to 1.79 in 2026Q1, with cash reserves dropping to $43.8 million, indicating a tightening liquidity profile that may limit the company's operational flexibility during periods of market volatility or unexpected cash outflows.
The sharp contraction in the current ratio suggests that the company is increasingly reliant on its existing cash position to meet short-term obligations. This trend warrants close scrutiny, as the current cash runway appears insufficient to support sustained negative operating margins without potential recourse to external financing.
As evidenced by the dramatic shift in debt levels, where total debt spiked to $436.9 million in 2025Q4 before dropping to $9.7 million in 2026Q1, the company's balance sheet appears highly sensitive to debt-servicing cycles and potential refinancing maneuvers that could mask underlying operational instability.
The extreme volatility in debt levels suggests that the company may be managing its leverage through short-term financing or aggressive repayment cycles that do not necessarily reflect long-term solvency. This behavior implies that the balance sheet is being actively manipulated to maintain appearances, which may obscure the true cost of capital and the sustainability of the current debt load.
Quick answers to the most common questions about buying RPAY stock.
As of 2025, Repay Holdings Corporation (RPAY) had total assets of $1.20B including $196.8M in current assets.
Repay Holdings Corporation (RPAY) carries total debt of $436.9M, offset by $115.7M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Repay Holdings Corporation (RPAY) has total shareholders' equity (book value) of $484.4M ($5.63 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Repay Holdings Corporation (RPAY) reported a current ratio of 0.82x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.