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Side-by-side financial comparison of CPI Card Group Inc. (PMTS) and Repay Holdings Corp (RPAY). Click either name above to swap in a different company.
CPI Card Group Inc. is the larger business by last-quarter revenue ($153.1M vs $78.6M, roughly 1.9× Repay Holdings Corp). CPI Card Group Inc. runs the higher net margin — 4.8% vs -178.3%, a 183.1% gap on every dollar of revenue. On growth, CPI Card Group Inc. posted the faster year-over-year revenue change (22.3% vs 0.4%). CPI Card Group Inc. produced more free cash flow last quarter ($35.2M vs $23.2M). Over the past eight quarters, CPI Card Group Inc.'s revenue compounded faster (16.9% CAGR vs -1.3%).
CPI Card Group Inc. is a leading provider of payment card production and associated solutions, including contactless and contact credit/debit cards, prepaid cards, and card personalization services. It primarily serves financial institutions, fintech firms, and retail brands across its core North American market.
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.
PMTS vs RPAY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $153.1M | $78.6M |
| Net Profit | $7.3M | $-140.1M |
| Gross Margin | 31.5% | 74.2% |
| Operating Margin | 12.0% | -182.2% |
| Net Margin | 4.8% | -178.3% |
| Revenue YoY | 22.3% | 0.4% |
| Net Profit YoY | 8.5% | -3304.1% |
| EPS (diluted) | $0.62 | $-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 | $153.1M | $78.6M | ||
| Q3 25 | $138.0M | $77.7M | ||
| Q2 25 | $129.8M | $75.6M | ||
| Q1 25 | $122.8M | $77.3M | ||
| Q4 24 | $125.1M | $78.3M | ||
| Q3 24 | $124.8M | $79.1M | ||
| Q2 24 | $118.8M | $74.9M | ||
| Q1 24 | $111.9M | $80.7M |
| Q4 25 | $7.3M | $-140.1M | ||
| Q3 25 | $2.3M | $-6.4M | ||
| Q2 25 | $518.0K | $-102.3M | ||
| Q1 25 | $4.8M | $-7.9M | ||
| Q4 24 | $6.8M | $-4.1M | ||
| Q3 24 | $1.3M | $3.2M | ||
| Q2 24 | $6.0M | $-4.1M | ||
| Q1 24 | $5.5M | $-5.2M |
| Q4 25 | 31.5% | 74.2% | ||
| Q3 25 | 29.7% | 74.4% | ||
| Q2 25 | 30.9% | 75.7% | ||
| Q1 25 | 33.2% | 75.9% | ||
| Q4 24 | 34.1% | 76.3% | ||
| Q3 24 | 35.8% | 77.8% | ||
| Q2 24 | 35.7% | 78.2% | ||
| Q1 24 | 37.1% | 76.2% |
| Q4 25 | 12.0% | -182.2% | ||
| Q3 25 | 9.4% | -3.9% | ||
| Q2 25 | 7.3% | -138.7% | ||
| Q1 25 | 11.5% | -4.7% | ||
| Q4 24 | 12.7% | -1.5% | ||
| Q3 24 | 14.3% | -0.9% | ||
| Q2 24 | 12.5% | -4.6% | ||
| Q1 24 | 12.6% | -3.1% |
| Q4 25 | 4.8% | -178.3% | ||
| Q3 25 | 1.7% | -8.3% | ||
| Q2 25 | 0.4% | -135.2% | ||
| Q1 25 | 3.9% | -10.3% | ||
| Q4 24 | 5.4% | -5.3% | ||
| Q3 24 | 1.0% | 4.1% | ||
| Q2 24 | 5.1% | -5.4% | ||
| Q1 24 | 4.9% | -6.5% |
| Q4 25 | $0.62 | $-1.68 | ||
| Q3 25 | $0.19 | $-0.08 | ||
| Q2 25 | $0.04 | $-1.15 | ||
| Q1 25 | $0.40 | $-0.09 | ||
| Q4 24 | $0.56 | $-0.04 | ||
| Q3 24 | $0.11 | $0.03 | ||
| Q2 24 | $0.51 | $-0.04 | ||
| Q1 24 | $0.46 | $-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 | $21.7M | $115.7M |
| Total DebtLower is stronger | $286.7M | $280.1M |
| Stockholders' EquityBook value | $-17.3M | $484.4M |
| Total Assets | $403.2M | $1.2B |
| Debt / EquityLower = less leverage | — | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $21.7M | $115.7M | ||
| Q3 25 | $16.0M | $95.7M | ||
| Q2 25 | $17.1M | $162.6M | ||
| Q1 25 | $31.5M | $165.5M | ||
| Q4 24 | $33.5M | $189.5M | ||
| Q3 24 | $14.7M | $168.7M | ||
| Q2 24 | $7.5M | $147.1M | ||
| Q1 24 | $17.1M | $128.3M |
| Q4 25 | $286.7M | $280.1M | ||
| Q3 25 | $308.4M | $279.5M | ||
| Q2 25 | $310.9M | $279.0M | ||
| Q1 25 | $280.7M | $497.6M | ||
| Q4 24 | $280.4M | $496.8M | ||
| Q3 24 | $280.2M | $496.2M | ||
| Q2 24 | $269.7M | $435.6M | ||
| Q1 24 | $265.3M | $434.9M |
| Q4 25 | $-17.3M | $484.4M | ||
| Q3 25 | $-25.7M | $616.9M | ||
| Q2 25 | $-29.0M | $633.7M | ||
| Q1 25 | $-29.7M | $755.7M | ||
| Q4 24 | $-35.6M | $761.3M | ||
| Q3 24 | $-42.8M | $754.7M | ||
| Q2 24 | $-44.6M | $815.4M | ||
| Q1 24 | $-48.5M | $813.8M |
| Q4 25 | $403.2M | $1.2B | ||
| Q3 25 | $407.1M | $1.3B | ||
| Q2 25 | $399.8M | $1.4B | ||
| Q1 25 | $351.9M | $1.5B | ||
| Q4 24 | $349.7M | $1.6B | ||
| Q3 24 | $342.3M | $1.6B | ||
| Q2 24 | $321.4M | $1.5B | ||
| Q1 24 | $319.8M | $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 | — | 0.53× |
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 | $39.6M | $23.3M |
| Free Cash FlowOCF − Capex | $35.2M | $23.2M |
| FCF MarginFCF / Revenue | 23.0% | 29.6% |
| Capex IntensityCapex / Revenue | 2.9% | 0.1% |
| Cash ConversionOCF / Net Profit | 5.39× | — |
| TTM Free Cash FlowTrailing 4 quarters | $41.3M | $90.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $39.6M | $23.3M | ||
| Q3 25 | $10.0M | $32.2M | ||
| Q2 25 | $4.3M | $33.1M | ||
| Q1 25 | $5.6M | $2.5M | ||
| Q4 24 | $26.7M | $34.3M | ||
| Q3 24 | $12.5M | $60.1M | ||
| Q2 24 | $-4.8M | $31.0M | ||
| Q1 24 | $8.9M | $24.8M |
| Q4 25 | $35.2M | $23.2M | ||
| Q3 25 | $5.3M | $32.1M | ||
| Q2 25 | $533.0K | $33.0M | ||
| Q1 25 | $292.0K | $2.4M | ||
| Q4 24 | $21.6M | $34.0M | ||
| Q3 24 | $11.1M | $59.8M | ||
| Q2 24 | $-6.0M | $30.5M | ||
| Q1 24 | $7.4M | $24.7M |
| Q4 25 | 23.0% | 29.6% | ||
| Q3 25 | 3.8% | 41.3% | ||
| Q2 25 | 0.4% | 43.6% | ||
| Q1 25 | 0.2% | 3.0% | ||
| Q4 24 | 17.3% | 43.5% | ||
| Q3 24 | 8.9% | 75.6% | ||
| Q2 24 | -5.0% | 40.7% | ||
| Q1 24 | 6.6% | 30.6% |
| Q4 25 | 2.9% | 0.1% | ||
| Q3 25 | 3.4% | 0.2% | ||
| Q2 25 | 2.9% | 0.1% | ||
| Q1 25 | 4.3% | 0.2% | ||
| Q4 24 | 4.0% | 0.3% | ||
| Q3 24 | 1.2% | 0.3% | ||
| Q2 24 | 1.0% | 0.6% | ||
| Q1 24 | 1.3% | 0.1% |
| Q4 25 | 5.39× | — | ||
| Q3 25 | 4.32× | — | ||
| Q2 25 | 8.39× | — | ||
| Q1 25 | 1.17× | — | ||
| Q4 24 | 3.94× | — | ||
| Q3 24 | 9.70× | 18.52× | ||
| Q2 24 | -0.79× | — | ||
| Q1 24 | 1.63× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PMTS
| US Debit And Credit | $128.9M | 84% |
| US Prepaid Debit | $24.4M | 16% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
