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Side-by-side financial comparison of First Foundation Inc. (FFWM) 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 $48.4M, roughly 1.6× First Foundation Inc.). First Foundation Inc. runs the higher net margin — -97.9% vs -178.3%, a 80.4% gap on every dollar of revenue. On growth, First Foundation Inc. posted the faster year-over-year revenue change (421.7% vs 0.4%). Repay Holdings Corp produced more free cash flow last quarter ($23.2M vs $-35.2M). Over the past eight quarters, Repay Holdings Corp's revenue compounded faster (-1.3% CAGR vs -2.7%).
John B. Lacson Colleges Foundation (Bacolod), Inc. is a private maritime college in Bacolod, Negros Occidental, Philippines.
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.
FFWM vs RPAY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $48.4M | $78.6M |
| Net Profit | $-8.0M | $-140.1M |
| Gross Margin | — | 74.2% |
| Operating Margin | -97.5% | -182.2% |
| Net Margin | -97.9% | -178.3% |
| Revenue YoY | 421.7% | 0.4% |
| Net Profit YoY | 43.0% | -3304.1% |
| EPS (diluted) | $-0.09 | $-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 | $48.4M | $78.6M | ||
| Q3 25 | $63.6M | $77.7M | ||
| Q2 25 | $51.4M | $75.6M | ||
| Q1 25 | $71.4M | $77.3M | ||
| Q4 24 | $9.3M | $78.3M | ||
| Q3 24 | $9.2M | $79.1M | ||
| Q2 24 | $57.5M | $74.9M | ||
| Q1 24 | $51.1M | $80.7M |
| Q4 25 | $-8.0M | $-140.1M | ||
| Q3 25 | $-146.3M | $-6.4M | ||
| Q2 25 | $-7.7M | $-102.3M | ||
| Q1 25 | $6.9M | $-7.9M | ||
| Q4 24 | $-14.1M | $-4.1M | ||
| Q3 24 | $-82.2M | $3.2M | ||
| Q2 24 | $3.1M | $-4.1M | ||
| Q1 24 | $793.0K | $-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 | -97.5% | -182.2% | ||
| Q3 25 | -92.7% | -3.9% | ||
| Q2 25 | -21.1% | -138.7% | ||
| Q1 25 | 8.8% | -4.7% | ||
| Q4 24 | -247.7% | -1.5% | ||
| Q3 24 | -1276.7% | -0.9% | ||
| Q2 24 | 4.6% | -4.6% | ||
| Q1 24 | -0.2% | -3.1% |
| Q4 25 | -97.9% | -178.3% | ||
| Q3 25 | -230.1% | -8.3% | ||
| Q2 25 | -15.0% | -135.2% | ||
| Q1 25 | 9.7% | -10.3% | ||
| Q4 24 | -152.2% | -5.3% | ||
| Q3 24 | -896.9% | 4.1% | ||
| Q2 24 | 5.4% | -5.4% | ||
| Q1 24 | 1.6% | -6.5% |
| Q4 25 | $-0.09 | $-1.68 | ||
| Q3 25 | $-1.78 | $-0.08 | ||
| Q2 25 | $-0.09 | $-1.15 | ||
| Q1 25 | $0.08 | $-0.09 | ||
| Q4 24 | $-0.24 | $-0.04 | ||
| Q3 24 | $-1.23 | $0.03 | ||
| Q2 24 | $0.05 | $-0.04 | ||
| Q1 24 | $0.01 | $-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 | $1.6B | $115.7M |
| Total DebtLower is stronger | — | $280.1M |
| Stockholders' EquityBook value | $912.6M | $484.4M |
| Total Assets | $11.9B | $1.2B |
| Debt / EquityLower = less leverage | — | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.6B | $115.7M | ||
| Q3 25 | $1.7B | $95.7M | ||
| Q2 25 | $1.1B | $162.6M | ||
| Q1 25 | $1.0B | $165.5M | ||
| Q4 24 | $1.0B | $189.5M | ||
| Q3 24 | $1.1B | $168.7M | ||
| Q2 24 | $1.4B | $147.1M | ||
| Q1 24 | $1.6B | $128.3M |
| Q4 25 | — | $280.1M | ||
| Q3 25 | — | $279.5M | ||
| Q2 25 | — | $279.0M | ||
| Q1 25 | — | $497.6M | ||
| Q4 24 | — | $496.8M | ||
| Q3 24 | — | $496.2M | ||
| Q2 24 | — | $435.6M | ||
| Q1 24 | — | $434.9M |
| Q4 25 | $912.6M | $484.4M | ||
| Q3 25 | $917.9M | $616.9M | ||
| Q2 25 | $1.1B | $633.7M | ||
| Q1 25 | $1.1B | $755.7M | ||
| Q4 24 | $1.1B | $761.3M | ||
| Q3 24 | $1.1B | $754.7M | ||
| Q2 24 | $933.2M | $815.4M | ||
| Q1 24 | $928.7M | $813.8M |
| Q4 25 | $11.9B | $1.2B | ||
| Q3 25 | $11.9B | $1.3B | ||
| Q2 25 | $11.6B | $1.4B | ||
| Q1 25 | $12.6B | $1.5B | ||
| Q4 24 | $12.6B | $1.6B | ||
| Q3 24 | $13.4B | $1.6B | ||
| Q2 24 | $13.7B | $1.5B | ||
| Q1 24 | $13.6B | $1.5B |
| Q4 25 | — | 0.58× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.44× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.65× | ||
| Q3 24 | — | 0.66× | ||
| Q2 24 | — | 0.53× | ||
| Q1 24 | — | 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 | $-31.9M | $23.3M |
| Free Cash FlowOCF − Capex | $-35.2M | $23.2M |
| FCF MarginFCF / Revenue | -72.8% | 29.6% |
| Capex IntensityCapex / Revenue | 6.9% | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-45.9M | $90.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-31.9M | $23.3M | ||
| Q3 25 | $9.2M | $32.2M | ||
| Q2 25 | $-16.3M | $33.1M | ||
| Q1 25 | $-552.0K | $2.5M | ||
| Q4 24 | $-8.7M | $34.3M | ||
| Q3 24 | $14.2M | $60.1M | ||
| Q2 24 | $-9.1M | $31.0M | ||
| Q1 24 | $7.2M | $24.8M |
| Q4 25 | $-35.2M | $23.2M | ||
| Q3 25 | $8.6M | $32.1M | ||
| Q2 25 | $-16.7M | $33.0M | ||
| Q1 25 | $-2.5M | $2.4M | ||
| Q4 24 | $-11.4M | $34.0M | ||
| Q3 24 | $13.4M | $59.8M | ||
| Q2 24 | $-9.4M | $30.5M | ||
| Q1 24 | $5.9M | $24.7M |
| Q4 25 | -72.8% | 29.6% | ||
| Q3 25 | 13.5% | 41.3% | ||
| Q2 25 | -32.4% | 43.6% | ||
| Q1 25 | -3.5% | 3.0% | ||
| Q4 24 | -123.5% | 43.5% | ||
| Q3 24 | 146.2% | 75.6% | ||
| Q2 24 | -16.3% | 40.7% | ||
| Q1 24 | 11.6% | 30.6% |
| Q4 25 | 6.9% | 0.1% | ||
| Q3 25 | 1.0% | 0.2% | ||
| Q2 25 | 0.8% | 0.1% | ||
| Q1 25 | 2.8% | 0.2% | ||
| Q4 24 | 29.4% | 0.3% | ||
| Q3 24 | 9.0% | 0.3% | ||
| Q2 24 | 0.4% | 0.6% | ||
| Q1 24 | 2.5% | 0.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -0.08× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 18.52× | ||
| Q2 24 | -2.96× | — | ||
| Q1 24 | 9.09× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FFWM
Segment breakdown not available.
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
