CEO John Morris said during the week’s earnings webcast Repay will continue to add ERP links. “There are several of those that are in our pipeline for additional ads and wins and partnerships,” he said. CFO Tim Murphy also noted in its B2B business, Repay is investing more in AP products. He added, “Some of our recent announcements on ERP partners are now leading to very nice distribution paths and bringing us deals, and that's where we're spending a lot of resources.” For the most recently ended quarter, Repay reported net income $9.4 million, compared to a loss of $12.3 million a year ago. Revenue was $67.4 million, up 39.4 percent from $48.4 million in last year’s corresponding period. Repay had an operating loss of $16.6 million, up from $12.3 million a year ago. The bottom line was shaped by non-operating items with $19.5 million in income from the change of a tax receivable liability and a loss $4.3 million in the same category a year earlier. There was a significant increase in operating expenses, included a 48.3-percent hike in depreciation and amortization to $29.2 million from slightly less than $20 million a year earlier with the rise in that non-cash charge stemming from he acquisitions of BillingTree, Kontrol and Payix.
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REPAY UPPING ERP INVESTMENTS Featured
Repay is increasing its investment with ERP companies that integrate with its payments software, executives said this week. The comments came as they reported results for the second quarter ended June 30.
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