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Side-by-side financial comparison of Leslie's, Inc. (LESL) and Repay Holdings Corp (RPAY). Click either name above to swap in a different company.
Leslie's, Inc. is the larger business by last-quarter revenue ($147.1M vs $78.6M, roughly 1.9× Repay Holdings Corp). Leslie's, Inc. runs the higher net margin — -56.4% vs -178.3%, a 121.9% gap on every dollar of revenue. On growth, Repay Holdings Corp posted the faster year-over-year revenue change (0.4% vs -16.0%). Repay Holdings Corp produced more free cash flow last quarter ($23.2M vs $-85.5M). Over the past eight quarters, Repay Holdings Corp's revenue compounded faster (-1.3% CAGR vs -11.7%).
Leslie's, Inc., operating as Leslie's Swimming Pool Supplies, is the largest retailer of swimming pool supplies and related products. The company is headquartered in Phoenix, Arizona, and has a particularly strong retail presence in Arizona, California, Florida, Georgia and Texas.
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.
LESL vs RPAY — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $147.1M | $78.6M |
| Net Profit | $-83.0M | $-140.1M |
| Gross Margin | 18.4% | 74.2% |
| Operating Margin | -46.7% | -182.2% |
| Net Margin | -56.4% | -178.3% |
| Revenue YoY | -16.0% | 0.4% |
| Net Profit YoY | -86.2% | -3304.1% |
| EPS (diluted) | $-8.92 | $-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.
| Q1 26 | $147.1M | — | ||
| Q4 25 | $389.2M | $78.6M | ||
| Q3 25 | — | $77.7M | ||
| Q2 25 | $500.3M | $75.6M | ||
| Q1 25 | $177.1M | $77.3M | ||
| Q4 24 | $175.2M | $78.3M | ||
| Q3 24 | $397.9M | $79.1M | ||
| Q2 24 | $569.6M | $74.9M |
| Q1 26 | $-83.0M | — | ||
| Q4 25 | $-162.8M | $-140.1M | ||
| Q3 25 | — | $-6.4M | ||
| Q2 25 | $21.7M | $-102.3M | ||
| Q1 25 | $-51.3M | $-7.9M | ||
| Q4 24 | $-44.6M | $-4.1M | ||
| Q3 24 | $-9.9M | $3.2M | ||
| Q2 24 | $60.6M | $-4.1M |
| Q1 26 | 18.4% | — | ||
| Q4 25 | 38.6% | 74.2% | ||
| Q3 25 | — | 74.4% | ||
| Q2 25 | 39.6% | 75.7% | ||
| Q1 25 | 24.8% | 75.9% | ||
| Q4 24 | 27.2% | 76.3% | ||
| Q3 24 | 36.0% | 77.8% | ||
| Q2 24 | 40.2% | 78.2% |
| Q1 26 | -46.7% | — | ||
| Q4 25 | -38.6% | -182.2% | ||
| Q3 25 | — | -3.9% | ||
| Q2 25 | 13.7% | -138.7% | ||
| Q1 25 | -27.3% | -4.7% | ||
| Q4 24 | -22.7% | -1.5% | ||
| Q3 24 | 6.6% | -0.9% | ||
| Q2 24 | 17.2% | -4.6% |
| Q1 26 | -56.4% | — | ||
| Q4 25 | -41.8% | -178.3% | ||
| Q3 25 | — | -8.3% | ||
| Q2 25 | 4.3% | -135.2% | ||
| Q1 25 | -29.0% | -10.3% | ||
| Q4 24 | -25.4% | -5.3% | ||
| Q3 24 | -2.5% | 4.1% | ||
| Q2 24 | 10.6% | -5.4% |
| Q1 26 | $-8.92 | — | ||
| Q4 25 | $-20.59 | $-1.68 | ||
| Q3 25 | — | $-0.08 | ||
| Q2 25 | $0.12 | $-1.15 | ||
| Q1 25 | $-0.28 | $-0.09 | ||
| Q4 24 | $-4.82 | $-0.04 | ||
| Q3 24 | $-2.46 | $0.03 | ||
| Q2 24 | $0.33 | $-0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.6M | $115.7M |
| Total DebtLower is stronger | $781.6M | $280.1M |
| Stockholders' EquityBook value | $-489.9M | $484.4M |
| Total Assets | $649.4M | $1.2B |
| Debt / EquityLower = less leverage | — | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $3.6M | — | ||
| Q4 25 | $64.3M | $115.7M | ||
| Q3 25 | — | $95.7M | ||
| Q2 25 | $42.7M | $162.6M | ||
| Q1 25 | $17.3M | $165.5M | ||
| Q4 24 | $11.6M | $189.5M | ||
| Q3 24 | $108.5M | $168.7M | ||
| Q2 24 | $74.4M | $147.1M |
| Q1 26 | $781.6M | — | ||
| Q4 25 | $756.6M | $280.1M | ||
| Q3 25 | — | $279.5M | ||
| Q2 25 | $776.6M | $279.0M | ||
| Q1 25 | $858.1M | $497.6M | ||
| Q4 24 | $796.6M | $496.8M | ||
| Q3 24 | $783.7M | $496.2M | ||
| Q2 24 | $783.7M | $435.6M |
| Q1 26 | $-489.9M | — | ||
| Q4 25 | $-408.0M | $484.4M | ||
| Q3 25 | — | $616.9M | ||
| Q2 25 | $-246.2M | $633.7M | ||
| Q1 25 | $-269.5M | $755.7M | ||
| Q4 24 | $-220.0M | $761.3M | ||
| Q3 24 | $-177.1M | $754.7M | ||
| Q2 24 | $-168.2M | $815.4M |
| Q1 26 | $649.4M | — | ||
| Q4 25 | $741.5M | $1.2B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | $989.5M | $1.4B | ||
| Q1 25 | $1.0B | $1.5B | ||
| Q4 24 | $967.0M | $1.6B | ||
| Q3 24 | $1.1B | $1.6B | ||
| Q2 24 | $1.1B | $1.5B |
| Q1 26 | — | — | ||
| 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× |
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 | $-81.1M | $23.3M |
| Free Cash FlowOCF − Capex | $-85.5M | $23.2M |
| FCF MarginFCF / Revenue | -58.1% | 29.6% |
| Capex IntensityCapex / Revenue | 2.9% | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $7.6M | $90.7M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $-81.1M | — | ||
| Q4 25 | $48.2M | $23.3M | ||
| Q3 25 | — | $32.2M | ||
| Q2 25 | $114.9M | $33.1M | ||
| Q1 25 | $-49.2M | $2.5M | ||
| Q4 24 | $-105.1M | $34.3M | ||
| Q3 24 | $47.1M | $60.1M | ||
| Q2 24 | $175.5M | $31.0M |
| Q1 26 | $-85.5M | — | ||
| Q4 25 | $41.8M | $23.2M | ||
| Q3 25 | — | $32.1M | ||
| Q2 25 | $107.1M | $33.0M | ||
| Q1 25 | $-55.8M | $2.4M | ||
| Q4 24 | $-109.8M | $34.0M | ||
| Q3 24 | $34.1M | $59.8M | ||
| Q2 24 | $165.2M | $30.5M |
| Q1 26 | -58.1% | — | ||
| Q4 25 | 10.7% | 29.6% | ||
| Q3 25 | — | 41.3% | ||
| Q2 25 | 21.4% | 43.6% | ||
| Q1 25 | -31.5% | 3.0% | ||
| Q4 24 | -62.6% | 43.5% | ||
| Q3 24 | 8.6% | 75.6% | ||
| Q2 24 | 29.0% | 40.7% |
| Q1 26 | 2.9% | — | ||
| Q4 25 | 1.7% | 0.1% | ||
| Q3 25 | — | 0.2% | ||
| Q2 25 | 1.6% | 0.1% | ||
| Q1 25 | 3.7% | 0.2% | ||
| Q4 24 | 2.7% | 0.3% | ||
| Q3 24 | 3.2% | 0.3% | ||
| Q2 24 | 1.8% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 5.29× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 18.52× | ||
| Q2 24 | 2.89× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LESL
Segment breakdown not available.
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
