Repay Holdings soars after Q3 results beat estimates

Repay Holdings

10/11/2022 16:57

** Shares of payment tech co Repay Holdings Corp  RPAY.O  up
53.7% at $6.73, trading at their highest level in a month
    ** RPAY reports Q3 rev of $71.6 mln, up 17% YoY and above
analysts' expectations of $68.47 mln
    ** Co reports Q3 adj. EPS of 24 cents, beating Wall Street's
consensus of 20 cents/shr as per IBES Refinitiv data
    ** "In the event of an economic downturn, we will remain
nimble, with the ability to further pull back on hiring and
reduce other operating expenses such as travel," says CFO
    ** "A 3Q beat and a reiterated guide were a positive outcome
given investor fears from a worsening credit backdrop," Morgan
Stanley said in a note after co reiterated FY outlook
    ** BTIG believes RPAY's proprietary, cloud-based payment
processing technology platform combined with its burgeoning list
of software partners should allow it to post rapid growth in
payment volume and revenue in the future
    ** Stock has fallen 63.2% YTD
 (Reporting by Shashwat Chauhan in Bengaluru)
 ((Shashwat.Chauhan@thomsonreuters.com))