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Side-by-side financial comparison of ALERUS FINANCIAL CORP (ALRS) 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 $45.2M, roughly 1.7× ALERUS FINANCIAL CORP). ALERUS FINANCIAL CORP runs the higher net margin — -73.2% vs -178.3%, a 105.1% gap on every dollar of revenue. On growth, ALERUS FINANCIAL CORP posted the faster year-over-year revenue change (18.0% vs 0.4%). ALERUS FINANCIAL CORP produced more free cash flow last quarter ($58.8M vs $23.2M). Over the past eight quarters, Repay Holdings Corp's revenue compounded faster (-1.3% CAGR vs -2.5%).
Alerus Financial Corporation, marketed as simply Alerus, is a chain of financial institutions headquartered in Grand Forks, North Dakota, with locations in North Dakota, Minnesota, Wisconsin, and Arizona. Alerus offers banking, mortgage, wealth management, and retirement services.
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.
ALRS vs RPAY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $45.2M | $78.6M |
| Net Profit | $-33.1M | $-140.1M |
| Gross Margin | — | 74.2% |
| Operating Margin | -96.0% | -182.2% |
| Net Margin | -73.2% | -178.3% |
| Revenue YoY | 18.0% | 0.4% |
| Net Profit YoY | -49232.8% | -3304.1% |
| EPS (diluted) | $-1.27 | $-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 | $45.2M | $78.6M | ||
| Q3 25 | $72.6M | $77.7M | ||
| Q2 25 | $74.8M | $75.6M | ||
| Q1 25 | $68.8M | $77.3M | ||
| Q4 24 | $72.2M | $78.3M | ||
| Q3 24 | $50.9M | $79.1M | ||
| Q2 24 | $51.4M | $74.9M | ||
| Q1 24 | $47.5M | $80.7M |
| Q4 25 | $-33.1M | $-140.1M | ||
| Q3 25 | $16.9M | $-6.4M | ||
| Q2 25 | $20.3M | $-102.3M | ||
| Q1 25 | $13.3M | $-7.9M | ||
| Q4 24 | $-67.0K | $-4.1M | ||
| Q3 24 | $5.2M | $3.2M | ||
| Q2 24 | $6.2M | $-4.1M | ||
| Q1 24 | $6.4M | $-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 | -96.0% | -182.2% | ||
| Q3 25 | 30.4% | -3.9% | ||
| Q2 25 | 35.2% | -138.7% | ||
| Q1 25 | 25.5% | -4.7% | ||
| Q4 24 | -0.8% | -1.5% | ||
| Q3 24 | 13.4% | -0.9% | ||
| Q2 24 | 15.8% | -4.6% | ||
| Q1 24 | 17.9% | -3.1% |
| Q4 25 | -73.2% | -178.3% | ||
| Q3 25 | 23.3% | -8.3% | ||
| Q2 25 | 27.1% | -135.2% | ||
| Q1 25 | 19.4% | -10.3% | ||
| Q4 24 | -0.2% | -5.3% | ||
| Q3 24 | 10.2% | 4.1% | ||
| Q2 24 | 12.1% | -5.4% | ||
| Q1 24 | 13.5% | -6.5% |
| Q4 25 | $-1.27 | $-1.68 | ||
| Q3 25 | $0.65 | $-0.08 | ||
| Q2 25 | $0.78 | $-1.15 | ||
| Q1 25 | $0.52 | $-0.09 | ||
| Q4 24 | $-0.06 | $-0.04 | ||
| Q3 24 | $0.26 | $0.03 | ||
| Q2 24 | $0.31 | $-0.04 | ||
| Q1 24 | $0.32 | $-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 | $67.2M | $115.7M |
| Total DebtLower is stronger | $59.2M | $280.1M |
| Stockholders' EquityBook value | $564.9M | $484.4M |
| Total Assets | $5.2B | $1.2B |
| Debt / EquityLower = less leverage | 0.10× | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $67.2M | $115.7M | ||
| Q3 25 | $92.0M | $95.7M | ||
| Q2 25 | $80.9M | $162.6M | ||
| Q1 25 | $83.0M | $165.5M | ||
| Q4 24 | $61.2M | $189.5M | ||
| Q3 24 | $66.0M | $168.7M | ||
| Q2 24 | $438.1M | $147.1M | ||
| Q1 24 | $545.8M | $128.3M |
| Q4 25 | $59.2M | $280.1M | ||
| Q3 25 | $59.2M | $279.5M | ||
| Q2 25 | $59.1M | $279.0M | ||
| Q1 25 | $59.1M | $497.6M | ||
| Q4 24 | $59.1M | $496.8M | ||
| Q3 24 | $59.0M | $496.2M | ||
| Q2 24 | $59.0M | $435.6M | ||
| Q1 24 | $59.0M | $434.9M |
| Q4 25 | $564.9M | $484.4M | ||
| Q3 25 | $550.7M | $616.9M | ||
| Q2 25 | $533.2M | $633.7M | ||
| Q1 25 | $514.2M | $755.7M | ||
| Q4 24 | $495.4M | $761.3M | ||
| Q3 24 | $386.5M | $754.7M | ||
| Q2 24 | $373.2M | $815.4M | ||
| Q1 24 | $371.6M | $813.8M |
| Q4 25 | $5.2B | $1.2B | ||
| Q3 25 | $5.3B | $1.3B | ||
| Q2 25 | $5.3B | $1.4B | ||
| Q1 25 | $5.3B | $1.5B | ||
| Q4 24 | $5.3B | $1.6B | ||
| Q3 24 | $4.4B | $1.6B | ||
| Q2 24 | $4.4B | $1.5B | ||
| Q1 24 | $4.3B | $1.5B |
| Q4 25 | 0.10× | 0.58× | ||
| Q3 25 | 0.11× | 0.45× | ||
| Q2 25 | 0.11× | 0.44× | ||
| Q1 25 | 0.11× | 0.66× | ||
| Q4 24 | 0.12× | 0.65× | ||
| Q3 24 | 0.15× | 0.66× | ||
| Q2 24 | 0.16× | 0.53× | ||
| Q1 24 | 0.16× | 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 | $67.5M | $23.3M |
| Free Cash FlowOCF − Capex | $58.8M | $23.2M |
| FCF MarginFCF / Revenue | 130.2% | 29.6% |
| Capex IntensityCapex / Revenue | 19.3% | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $102.4M | $90.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $67.5M | $23.3M | ||
| Q3 25 | $32.8M | $32.2M | ||
| Q2 25 | $10.7M | $33.1M | ||
| Q1 25 | $7.7M | $2.5M | ||
| Q4 24 | $21.7M | $34.3M | ||
| Q3 24 | $20.2M | $60.1M | ||
| Q2 24 | $-12.5M | $31.0M | ||
| Q1 24 | $11.7M | $24.8M |
| Q4 25 | $58.8M | $23.2M | ||
| Q3 25 | $30.3M | $32.1M | ||
| Q2 25 | $7.6M | $33.0M | ||
| Q1 25 | $5.7M | $2.4M | ||
| Q4 24 | $9.4M | $34.0M | ||
| Q3 24 | $17.4M | $59.8M | ||
| Q2 24 | $-16.1M | $30.5M | ||
| Q1 24 | $10.8M | $24.7M |
| Q4 25 | 130.2% | 29.6% | ||
| Q3 25 | 41.8% | 41.3% | ||
| Q2 25 | 10.1% | 43.6% | ||
| Q1 25 | 8.2% | 3.0% | ||
| Q4 24 | 13.0% | 43.5% | ||
| Q3 24 | 34.2% | 75.6% | ||
| Q2 24 | -31.4% | 40.7% | ||
| Q1 24 | 22.8% | 30.6% |
| Q4 25 | 19.3% | 0.1% | ||
| Q3 25 | 3.4% | 0.2% | ||
| Q2 25 | 4.2% | 0.1% | ||
| Q1 25 | 3.0% | 0.2% | ||
| Q4 24 | 17.1% | 0.3% | ||
| Q3 24 | 5.4% | 0.3% | ||
| Q2 24 | 7.2% | 0.6% | ||
| Q1 24 | 1.9% | 0.1% |
| Q4 25 | — | — | ||
| Q3 25 | 1.94× | — | ||
| Q2 25 | 0.53× | — | ||
| Q1 25 | 0.58× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.88× | 18.52× | ||
| Q2 24 | -2.01× | — | ||
| Q1 24 | 1.82× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALRS
| Other | $17.3M | 38% |
| Retirement And Benefit Services | $17.3M | 38% |
| Wealth Management | $7.4M | 16% |
| Mortgage Banking | $3.2M | 7% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
