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Side-by-side financial comparison of Repay Holdings Corp (RPAY) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
Latham Group, Inc. is the larger business by last-quarter revenue ($100.0M vs $78.6M, roughly 1.3× Repay Holdings Corp). Latham Group, Inc. runs the higher net margin — -7.0% vs -178.3%, a 171.3% gap on every dollar of revenue. On growth, Latham Group, Inc. posted the faster year-over-year revenue change (14.5% vs 0.4%). Repay Holdings Corp produced more free cash flow last quarter ($23.2M vs $14.1M). Over the past eight quarters, Repay Holdings Corp's revenue compounded faster (-1.3% CAGR vs -4.9%).
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.
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
RPAY vs SWIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $78.6M | $100.0M |
| Net Profit | $-140.1M | $-7.0M |
| Gross Margin | 74.2% | 28.0% |
| Operating Margin | -182.2% | -10.7% |
| Net Margin | -178.3% | -7.0% |
| Revenue YoY | 0.4% | 14.5% |
| Net Profit YoY | -3304.1% | 76.0% |
| EPS (diluted) | $-1.68 | $-0.06 |
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 | $78.6M | $100.0M | ||
| Q3 25 | $77.7M | $161.9M | ||
| Q2 25 | $75.6M | $172.6M | ||
| Q1 25 | $77.3M | $111.4M | ||
| Q4 24 | $78.3M | $87.3M | ||
| Q3 24 | $79.1M | $150.5M | ||
| Q2 24 | $74.9M | $160.1M | ||
| Q1 24 | $80.7M | $110.6M |
| Q4 25 | $-140.1M | $-7.0M | ||
| Q3 25 | $-6.4M | $8.1M | ||
| Q2 25 | $-102.3M | $16.0M | ||
| Q1 25 | $-7.9M | $-6.0M | ||
| Q4 24 | $-4.1M | $-29.2M | ||
| Q3 24 | $3.2M | $5.9M | ||
| Q2 24 | $-4.1M | $13.3M | ||
| Q1 24 | $-5.2M | $-7.9M |
| Q4 25 | 74.2% | 28.0% | ||
| Q3 25 | 74.4% | 35.4% | ||
| Q2 25 | 75.7% | 37.1% | ||
| Q1 25 | 75.9% | 29.5% | ||
| Q4 24 | 76.3% | 24.6% | ||
| Q3 24 | 77.8% | 32.4% | ||
| Q2 24 | 78.2% | 33.1% | ||
| Q1 24 | 76.2% | 27.7% |
| Q4 25 | -182.2% | -10.7% | ||
| Q3 25 | -3.9% | 13.3% | ||
| Q2 25 | -138.7% | 14.3% | ||
| Q1 25 | -4.7% | -4.4% | ||
| Q4 24 | -1.5% | -14.9% | ||
| Q3 24 | -0.9% | 8.9% | ||
| Q2 24 | -4.6% | 12.5% | ||
| Q1 24 | -3.1% | -1.9% |
| Q4 25 | -178.3% | -7.0% | ||
| Q3 25 | -8.3% | 5.0% | ||
| Q2 25 | -135.2% | 9.3% | ||
| Q1 25 | -10.3% | -5.4% | ||
| Q4 24 | -5.3% | -33.4% | ||
| Q3 24 | 4.1% | 3.9% | ||
| Q2 24 | -5.4% | 8.3% | ||
| Q1 24 | -6.5% | -7.1% |
| Q4 25 | $-1.68 | $-0.06 | ||
| Q3 25 | $-0.08 | $0.07 | ||
| Q2 25 | $-1.15 | $0.13 | ||
| Q1 25 | $-0.09 | $-0.05 | ||
| Q4 24 | $-0.04 | $-0.24 | ||
| Q3 24 | $0.03 | $0.05 | ||
| Q2 24 | $-0.04 | $0.11 | ||
| Q1 24 | $-0.06 | $-0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $115.7M | — |
| Total DebtLower is stronger | $280.1M | $279.8M |
| Stockholders' EquityBook value | $484.4M | $405.9M |
| Total Assets | $1.2B | $823.2M |
| Debt / EquityLower = less leverage | 0.58× | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $115.7M | — | ||
| Q3 25 | $95.7M | — | ||
| Q2 25 | $162.6M | — | ||
| Q1 25 | $165.5M | — | ||
| Q4 24 | $189.5M | — | ||
| Q3 24 | $168.7M | — | ||
| Q2 24 | $147.1M | — | ||
| Q1 24 | $128.3M | — |
| Q4 25 | $280.1M | $279.8M | ||
| Q3 25 | $279.5M | $281.1M | ||
| Q2 25 | $279.0M | $281.5M | ||
| Q1 25 | $497.6M | $306.9M | ||
| Q4 24 | $496.8M | $281.5M | ||
| Q3 24 | $496.2M | $282.8M | ||
| Q2 24 | $435.6M | $282.4M | ||
| Q1 24 | $434.9M | $282.8M |
| Q4 25 | $484.4M | $405.9M | ||
| Q3 25 | $616.9M | $408.4M | ||
| Q2 25 | $633.7M | $398.4M | ||
| Q1 25 | $755.7M | $381.1M | ||
| Q4 24 | $761.3M | $387.2M | ||
| Q3 24 | $754.7M | $416.6M | ||
| Q2 24 | $815.4M | $408.1M | ||
| Q1 24 | $813.8M | $391.8M |
| Q4 25 | $1.2B | $823.2M | ||
| Q3 25 | $1.3B | $844.4M | ||
| Q2 25 | $1.4B | $822.1M | ||
| Q1 25 | $1.5B | $824.6M | ||
| Q4 24 | $1.6B | $794.2M | ||
| Q3 24 | $1.6B | $853.4M | ||
| Q2 24 | $1.5B | $830.0M | ||
| Q1 24 | $1.5B | $808.6M |
| Q4 25 | 0.58× | 0.69× | ||
| Q3 25 | 0.45× | 0.69× | ||
| Q2 25 | 0.44× | 0.71× | ||
| Q1 25 | 0.66× | 0.81× | ||
| Q4 24 | 0.65× | 0.73× | ||
| Q3 24 | 0.66× | 0.68× | ||
| Q2 24 | 0.53× | 0.69× | ||
| Q1 24 | 0.53× | 0.72× |
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 | $23.3M | $23.3M |
| Free Cash FlowOCF − Capex | $23.2M | $14.1M |
| FCF MarginFCF / Revenue | 29.6% | 14.1% |
| Capex IntensityCapex / Revenue | 0.1% | 9.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $90.7M | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.3M | $23.3M | ||
| Q3 25 | $32.2M | $51.0M | ||
| Q2 25 | $33.1M | $36.0M | ||
| Q1 25 | $2.5M | $-46.9M | ||
| Q4 24 | $34.3M | $6.2M | ||
| Q3 24 | $60.1M | $37.2M | ||
| Q2 24 | $31.0M | $52.4M | ||
| Q1 24 | $24.8M | $-34.5M |
| Q4 25 | $23.2M | $14.1M | ||
| Q3 25 | $32.1M | $45.2M | ||
| Q2 25 | $33.0M | $29.1M | ||
| Q1 25 | $2.4M | $-50.3M | ||
| Q4 24 | $34.0M | $-98.0K | ||
| Q3 24 | $59.8M | $33.2M | ||
| Q2 24 | $30.5M | $47.9M | ||
| Q1 24 | $24.7M | $-39.9M |
| Q4 25 | 29.6% | 14.1% | ||
| Q3 25 | 41.3% | 27.9% | ||
| Q2 25 | 43.6% | 16.8% | ||
| Q1 25 | 3.0% | -45.2% | ||
| Q4 24 | 43.5% | -0.1% | ||
| Q3 24 | 75.6% | 22.1% | ||
| Q2 24 | 40.7% | 29.9% | ||
| Q1 24 | 30.6% | -36.0% |
| Q4 25 | 0.1% | 9.2% | ||
| Q3 25 | 0.2% | 3.6% | ||
| Q2 25 | 0.1% | 4.0% | ||
| Q1 25 | 0.2% | 3.1% | ||
| Q4 24 | 0.3% | 7.2% | ||
| Q3 24 | 0.3% | 2.7% | ||
| Q2 24 | 0.6% | 2.8% | ||
| Q1 24 | 0.1% | 4.8% |
| Q4 25 | — | — | ||
| Q3 25 | — | 6.29× | ||
| Q2 25 | — | 2.25× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 18.52× | 6.32× | ||
| Q2 24 | — | 3.95× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
