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Side-by-side financial comparison of ADAMAS TRUST, INC. (ADAM) and Repay Holdings Corp (RPAY). Click either name above to swap in a different company.
Repay Holdings Corp is the larger business by last-quarter revenue ($78.6M vs $43.2M, roughly 1.8× ADAMAS TRUST, INC.). ADAMAS TRUST, INC. runs the higher net margin — 124.0% vs -178.3%, a 302.3% gap on every dollar of revenue. On growth, ADAMAS TRUST, INC. posted the faster year-over-year revenue change (61.6% vs 0.4%). ADAMAS TRUST, INC. produced more free cash flow last quarter ($125.9M vs $23.2M). Over the past eight quarters, ADAMAS TRUST, INC.'s revenue compounded faster (55.5% CAGR vs -1.3%).
Repay Holdings Corp is a leading payment technology provider delivering integrated end-to-end payment processing solutions for businesses across North America. Its offerings include credit/debit card processing, ACH transfer services, POS system integrations and digital payment tools, serving retail, healthcare, automotive and e-commerce segments to help clients streamline transaction workflows and boost operational efficiency.
ADAM vs RPAY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $43.2M | $78.6M |
| Net Profit | $53.5M | $-140.1M |
| Gross Margin | — | 74.2% |
| Operating Margin | — | -182.2% |
| Net Margin | 124.0% | -178.3% |
| Revenue YoY | 61.6% | 0.4% |
| Net Profit YoY | 270.5% | -3304.1% |
| EPS (diluted) | $0.45 | $-1.68 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $43.2M | $78.6M | ||
| Q3 25 | $36.6M | $77.7M | ||
| Q2 25 | $36.4M | $75.6M | ||
| Q1 25 | $33.1M | $77.3M | ||
| Q4 24 | $26.7M | $78.3M | ||
| Q3 24 | $20.2M | $79.1M | ||
| Q2 24 | $19.0M | $74.9M | ||
| Q1 24 | $17.9M | $80.7M |
| Q4 25 | $53.5M | $-140.1M | ||
| Q3 25 | $44.8M | $-6.4M | ||
| Q2 25 | $8.5M | $-102.3M | ||
| Q1 25 | $42.2M | $-7.9M | ||
| Q4 24 | $-31.4M | $-4.1M | ||
| Q3 24 | $42.8M | $3.2M | ||
| Q2 24 | $-15.6M | $-4.1M | ||
| Q1 24 | $-57.9M | $-5.2M |
| Q4 25 | — | 74.2% | ||
| Q3 25 | — | 74.4% | ||
| Q2 25 | — | 75.7% | ||
| Q1 25 | — | 75.9% | ||
| Q4 24 | — | 76.3% | ||
| Q3 24 | — | 77.8% | ||
| Q2 24 | — | 78.2% | ||
| Q1 24 | — | 76.2% |
| Q4 25 | — | -182.2% | ||
| Q3 25 | — | -3.9% | ||
| Q2 25 | 11.7% | -138.7% | ||
| Q1 25 | — | -4.7% | ||
| Q4 24 | -119.0% | -1.5% | ||
| Q3 24 | — | -0.9% | ||
| Q2 24 | -124.7% | -4.6% | ||
| Q1 24 | -448.8% | -3.1% |
| Q4 25 | 124.0% | -178.3% | ||
| Q3 25 | 122.5% | -8.3% | ||
| Q2 25 | 23.4% | -135.2% | ||
| Q1 25 | 127.4% | -10.3% | ||
| Q4 24 | -117.5% | -5.3% | ||
| Q3 24 | 211.7% | 4.1% | ||
| Q2 24 | -81.9% | -5.4% | ||
| Q1 24 | -324.1% | -6.5% |
| Q4 25 | $0.45 | $-1.68 | ||
| Q3 25 | $0.36 | $-0.08 | ||
| Q2 25 | $-0.04 | $-1.15 | ||
| Q1 25 | $0.33 | $-0.09 | ||
| Q4 24 | $-0.46 | $-0.04 | ||
| Q3 24 | $0.36 | $0.03 | ||
| Q2 24 | $-0.29 | $-0.04 | ||
| Q1 24 | $-0.75 | $-0.06 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $210.3M | $115.7M |
| Total DebtLower is stronger | $735.8M | $280.1M |
| Stockholders' EquityBook value | $1.4B | $484.4M |
| Total Assets | $12.6B | $1.2B |
| Debt / EquityLower = less leverage | 0.52× | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $210.3M | $115.7M | ||
| Q3 25 | $185.3M | $95.7M | ||
| Q2 25 | $160.4M | $162.6M | ||
| Q1 25 | $177.1M | $165.5M | ||
| Q4 24 | $167.4M | $189.5M | ||
| Q3 24 | $195.1M | $168.7M | ||
| Q2 24 | $235.5M | $147.1M | ||
| Q1 24 | $226.9M | $128.3M |
| Q4 25 | $735.8M | $280.1M | ||
| Q3 25 | $766.6M | $279.5M | ||
| Q2 25 | $653.0M | $279.0M | ||
| Q1 25 | $654.4M | $497.6M | ||
| Q4 24 | $573.2M | $496.8M | ||
| Q3 24 | $699.4M | $496.2M | ||
| Q2 24 | $800.7M | $435.6M | ||
| Q1 24 | $1.0B | $434.9M |
| Q4 25 | $1.4B | $484.4M | ||
| Q3 25 | $1.4B | $616.9M | ||
| Q2 25 | $1.4B | $633.7M | ||
| Q1 25 | $1.4B | $755.7M | ||
| Q4 24 | $1.4B | $761.3M | ||
| Q3 24 | $1.4B | $754.7M | ||
| Q2 24 | $1.4B | $815.4M | ||
| Q1 24 | $1.5B | $813.8M |
| Q4 25 | $12.6B | $1.2B | ||
| Q3 25 | $12.4B | $1.3B | ||
| Q2 25 | $10.6B | $1.4B | ||
| Q1 25 | $10.0B | $1.5B | ||
| Q4 24 | $9.2B | $1.6B | ||
| Q3 24 | $8.9B | $1.6B | ||
| Q2 24 | $8.2B | $1.5B | ||
| Q1 24 | $7.4B | $1.5B |
| Q4 25 | 0.52× | 0.58× | ||
| Q3 25 | 0.55× | 0.45× | ||
| Q2 25 | 0.47× | 0.44× | ||
| Q1 25 | 0.47× | 0.66× | ||
| Q4 24 | 0.41× | 0.65× | ||
| Q3 24 | 0.48× | 0.66× | ||
| Q2 24 | 0.56× | 0.53× | ||
| Q1 24 | 0.67× | 0.53× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $134.0M | $23.3M |
| Free Cash FlowOCF − Capex | $125.9M | $23.2M |
| FCF MarginFCF / Revenue | 291.6% | 29.6% |
| Capex IntensityCapex / Revenue | 18.9% | 0.1% |
| Cash ConversionOCF / Net Profit | 2.50× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $90.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $134.0M | $23.3M | ||
| Q3 25 | $6.9M | $32.2M | ||
| Q2 25 | $39.2M | $33.1M | ||
| Q1 25 | $25.8M | $2.5M | ||
| Q4 24 | $14.1M | $34.3M | ||
| Q3 24 | $-922.0K | $60.1M | ||
| Q2 24 | $-993.0K | $31.0M | ||
| Q1 24 | $-13.1M | $24.8M |
| Q4 25 | $125.9M | $23.2M | ||
| Q3 25 | — | $32.1M | ||
| Q2 25 | — | $33.0M | ||
| Q1 25 | — | $2.4M | ||
| Q4 24 | $-10.6M | $34.0M | ||
| Q3 24 | $-8.6M | $59.8M | ||
| Q2 24 | $-8.6M | $30.5M | ||
| Q1 24 | $-19.1M | $24.7M |
| Q4 25 | 291.6% | 29.6% | ||
| Q3 25 | — | 41.3% | ||
| Q2 25 | — | 43.6% | ||
| Q1 25 | — | 3.0% | ||
| Q4 24 | -39.6% | 43.5% | ||
| Q3 24 | -42.3% | 75.6% | ||
| Q2 24 | -44.9% | 40.7% | ||
| Q1 24 | -107.0% | 30.6% |
| Q4 25 | 18.9% | 0.1% | ||
| Q3 25 | — | 0.2% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | 92.3% | 0.3% | ||
| Q3 24 | 37.7% | 0.3% | ||
| Q2 24 | 39.7% | 0.6% | ||
| Q1 24 | 33.5% | 0.1% |
| Q4 25 | 2.50× | — | ||
| Q3 25 | 0.15× | — | ||
| Q2 25 | 4.59× | — | ||
| Q1 25 | 0.61× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -0.02× | 18.52× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ADAM
| Other | $19.6M | 45% |
| Constructive Loans LLC | $14.4M | 33% |
| Multifamily | $9.1M | 21% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
