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Side-by-side financial comparison of Lifeway Foods, Inc. (LWAY) 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 $55.4M, roughly 1.4× Lifeway Foods, Inc.). Lifeway Foods, Inc. runs the higher net margin — 4.6% vs -178.3%, a 182.9% gap on every dollar of revenue. On growth, Lifeway Foods, Inc. posted the faster year-over-year revenue change (18.0% vs 0.4%). Repay Holdings Corp produced more free cash flow last quarter ($23.2M vs $-17.4M). Over the past eight quarters, Lifeway Foods, Inc.'s revenue compounded faster (11.4% CAGR vs -1.3%).
Lifeway Foods is an Illinois-based health food company founded in 1986. They are a leading U.S. supplier of kefir and fermented probiotic products to support the microbiome.
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.
LWAY vs RPAY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $55.4M | $78.6M |
| Net Profit | $2.5M | $-140.1M |
| Gross Margin | 27.8% | 74.2% |
| Operating Margin | 6.8% | -182.2% |
| Net Margin | 4.6% | -178.3% |
| Revenue YoY | 18.0% | 0.4% |
| Net Profit YoY | 1688.1% | -3304.1% |
| EPS (diluted) | $0.15 | $-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 | $55.4M | $78.6M | ||
| Q3 25 | $57.1M | $77.7M | ||
| Q2 25 | $53.9M | $75.6M | ||
| Q1 25 | $46.1M | $77.3M | ||
| Q4 24 | $46.9M | $78.3M | ||
| Q3 24 | $46.1M | $79.1M | ||
| Q2 24 | $49.2M | $74.9M | ||
| Q1 24 | $44.6M | $80.7M |
| Q4 25 | $2.5M | $-140.1M | ||
| Q3 25 | $3.5M | $-6.4M | ||
| Q2 25 | $4.2M | $-102.3M | ||
| Q1 25 | $3.5M | $-7.9M | ||
| Q4 24 | $-160.0K | $-4.1M | ||
| Q3 24 | $3.0M | $3.2M | ||
| Q2 24 | $3.8M | $-4.1M | ||
| Q1 24 | $2.4M | $-5.2M |
| Q4 25 | 27.8% | 74.2% | ||
| Q3 25 | 28.7% | 74.4% | ||
| Q2 25 | 28.6% | 75.7% | ||
| Q1 25 | 23.9% | 75.9% | ||
| Q4 24 | 25.3% | 76.3% | ||
| Q3 24 | 25.7% | 77.8% | ||
| Q2 24 | 27.0% | 78.2% | ||
| Q1 24 | 25.8% | 76.2% |
| Q4 25 | 6.8% | -182.2% | ||
| Q3 25 | 8.8% | -3.9% | ||
| Q2 25 | 10.8% | -138.7% | ||
| Q1 25 | 3.4% | -4.7% | ||
| Q4 24 | 1.5% | -1.5% | ||
| Q3 24 | 9.1% | -0.9% | ||
| Q2 24 | 11.0% | -4.6% | ||
| Q1 24 | 8.0% | -3.1% |
| Q4 25 | 4.6% | -178.3% | ||
| Q3 25 | 6.2% | -8.3% | ||
| Q2 25 | 7.9% | -135.2% | ||
| Q1 25 | 7.7% | -10.3% | ||
| Q4 24 | -0.3% | -5.3% | ||
| Q3 24 | 6.5% | 4.1% | ||
| Q2 24 | 7.7% | -5.4% | ||
| Q1 24 | 5.4% | -6.5% |
| Q4 25 | $0.15 | $-1.68 | ||
| Q3 25 | $0.23 | $-0.08 | ||
| Q2 25 | $0.28 | $-1.15 | ||
| Q1 25 | $0.23 | $-0.09 | ||
| Q4 24 | $0.00 | $-0.04 | ||
| Q3 24 | $0.19 | $0.03 | ||
| Q2 24 | $0.25 | $-0.04 | ||
| Q1 24 | $0.16 | $-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 | $5.6M | $115.7M |
| Total DebtLower is stronger | — | $280.1M |
| Stockholders' EquityBook value | $85.8M | $484.4M |
| Total Assets | $105.6M | $1.2B |
| Debt / EquityLower = less leverage | — | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.6M | $115.7M | ||
| Q3 25 | $23.0M | $95.7M | ||
| Q2 25 | $21.2M | $162.6M | ||
| Q1 25 | $19.4M | $165.5M | ||
| Q4 24 | $16.7M | $189.5M | ||
| Q3 24 | $20.6M | $168.7M | ||
| Q2 24 | $14.6M | $147.1M | ||
| Q1 24 | $12.0M | $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 | $2.5M | $434.9M |
| Q4 25 | $85.8M | $484.4M | ||
| Q3 25 | $82.8M | $616.9M | ||
| Q2 25 | $78.7M | $633.7M | ||
| Q1 25 | $74.2M | $755.7M | ||
| Q4 24 | $71.9M | $761.3M | ||
| Q3 24 | $71.5M | $754.7M | ||
| Q2 24 | $68.0M | $815.4M | ||
| Q1 24 | $63.5M | $813.8M |
| Q4 25 | $105.6M | $1.2B | ||
| Q3 25 | $109.5M | $1.3B | ||
| Q2 25 | $98.3M | $1.4B | ||
| Q1 25 | $93.7M | $1.5B | ||
| Q4 24 | $90.5M | $1.6B | ||
| Q3 24 | $91.3M | $1.6B | ||
| Q2 24 | $84.9M | $1.5B | ||
| Q1 24 | $82.8M | $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 | 0.04× | 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 | $267.0K | $23.3M |
| Free Cash FlowOCF − Capex | $-17.4M | $23.2M |
| FCF MarginFCF / Revenue | -31.5% | 29.6% |
| Capex IntensityCapex / Revenue | 31.9% | 0.1% |
| Cash ConversionOCF / Net Profit | 0.11× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-16.4M | $90.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $267.0K | $23.3M | ||
| Q3 25 | $6.9M | $32.2M | ||
| Q2 25 | $3.9M | $33.1M | ||
| Q1 25 | $-150.0K | $2.5M | ||
| Q4 24 | $-2.6M | $34.3M | ||
| Q3 24 | $7.5M | $60.1M | ||
| Q2 24 | $6.5M | $31.0M | ||
| Q1 24 | $1.5M | $24.8M |
| Q4 25 | $-17.4M | $23.2M | ||
| Q3 25 | $1.8M | $32.1M | ||
| Q2 25 | $1.6M | $33.0M | ||
| Q1 25 | $-2.4M | $2.4M | ||
| Q4 24 | $-3.8M | $34.0M | ||
| Q3 24 | $5.9M | $59.8M | ||
| Q2 24 | $5.1M | $30.5M | ||
| Q1 24 | $-923.0K | $24.7M |
| Q4 25 | -31.5% | 29.6% | ||
| Q3 25 | 3.1% | 41.3% | ||
| Q2 25 | 3.0% | 43.6% | ||
| Q1 25 | -5.1% | 3.0% | ||
| Q4 24 | -8.2% | 43.5% | ||
| Q3 24 | 12.8% | 75.6% | ||
| Q2 24 | 10.4% | 40.7% | ||
| Q1 24 | -2.1% | 30.6% |
| Q4 25 | 31.9% | 0.1% | ||
| Q3 25 | 9.0% | 0.2% | ||
| Q2 25 | 4.3% | 0.1% | ||
| Q1 25 | 4.8% | 0.2% | ||
| Q4 24 | 2.7% | 0.3% | ||
| Q3 24 | 3.3% | 0.3% | ||
| Q2 24 | 2.9% | 0.6% | ||
| Q1 24 | 5.5% | 0.1% |
| Q4 25 | 0.11× | — | ||
| Q3 25 | 1.96× | — | ||
| Q2 25 | 0.92× | — | ||
| Q1 25 | -0.04× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.50× | 18.52× | ||
| Q2 24 | 1.73× | — | ||
| Q1 24 | 0.64× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LWAY
| Drinkable Kefirotherthan Pro Bugs | $47.8M | 86% |
| Cheese | $4.7M | 8% |
| Cream And Other | $1.7M | 3% |
| Other | $1.2M | 2% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
