Repay Q1 Adjusted Profit Flat, Revenue Higher; 2021 Outlook Revised Higher; to Acquire BillingTree for $503 Million
05:30 AM EDT, 05/11/2021 (MT Newswires) -- Repay Holdings (RPAY) on Monday reported Q1 adjusted earnings of $0.18 per share, unchanged from the prior-year quarter.
Analysts polled by Capital IQ were expecting $0.17 per share.
Revenue amounted to $47.5 million, up from $39.5 million a year ago. Analysts were expecting revenue of $46.3 million.
For 2021, the company expects revenue of $210 million to $220 million and adjusted EBITDA of $91 million to $96 million. Its previous projections were for revenue of $178 million to $188 million and adjusted EBITDA of $75 million to $80 million.
Repay also announced that it reached a deal to acquire omni-channel payments provider BillingTree for approximately $503 million.
The acquisition will be financed with approximately $275 million in cash and $228 million in newly issued shares. Parthenon Capital, BillingTree's majority owner, will own roughly 10% of Repay shares following the closing of the transaction in Q2, the company said.
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