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Side-by-side financial comparison of Repay Holdings Corp (RPAY) and Vericel Corp (VCEL). Click either name above to swap in a different company.
Vericel Corp is the larger business by last-quarter revenue ($92.9M vs $78.6M, roughly 1.2× Repay Holdings Corp). Vericel Corp runs the higher net margin — 25.0% vs -178.3%, a 203.3% gap on every dollar of revenue. On growth, Vericel Corp posted the faster year-over-year revenue change (23.3% vs 0.4%). Repay Holdings Corp produced more free cash flow last quarter ($23.2M vs $12.8M). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% CAGR vs -1.3%).
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.
Vericel Corporation is a publicly traded American biopharmaceutical company which was known prior to October 2014 as Aastrom Bio. Aastrom Bio was formed in 1989 in Ann Arbor, Michigan.
RPAY vs VCEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $78.6M | $92.9M |
| Net Profit | $-140.1M | $23.2M |
| Gross Margin | 74.2% | 78.7% |
| Operating Margin | -182.2% | 24.1% |
| Net Margin | -178.3% | 25.0% |
| Revenue YoY | 0.4% | 23.3% |
| Net Profit YoY | -3304.1% | 17.3% |
| EPS (diluted) | $-1.68 | $0.46 |
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 | $92.9M | ||
| Q3 25 | $77.7M | $67.5M | ||
| Q2 25 | $75.6M | $63.2M | ||
| Q1 25 | $77.3M | $52.6M | ||
| Q4 24 | $78.3M | $75.4M | ||
| Q3 24 | $79.1M | $57.9M | ||
| Q2 24 | $74.9M | $52.7M | ||
| Q1 24 | $80.7M | $51.3M |
| Q4 25 | $-140.1M | $23.2M | ||
| Q3 25 | $-6.4M | $5.1M | ||
| Q2 25 | $-102.3M | $-553.0K | ||
| Q1 25 | $-7.9M | $-11.2M | ||
| Q4 24 | $-4.1M | $19.8M | ||
| Q3 24 | $3.2M | $-901.0K | ||
| Q2 24 | $-4.1M | $-4.7M | ||
| Q1 24 | $-5.2M | $-3.9M |
| Q4 25 | 74.2% | 78.7% | ||
| Q3 25 | 74.4% | 73.5% | ||
| Q2 25 | 75.7% | 73.7% | ||
| Q1 25 | 75.9% | 69.0% | ||
| Q4 24 | 76.3% | 77.6% | ||
| Q3 24 | 77.8% | 71.9% | ||
| Q2 24 | 78.2% | 69.5% | ||
| Q1 24 | 76.2% | 68.9% |
| Q4 25 | -182.2% | 24.1% | ||
| Q3 25 | -3.9% | 5.1% | ||
| Q2 25 | -138.7% | -3.2% | ||
| Q1 25 | -4.7% | -24.3% | ||
| Q4 24 | -1.5% | 24.5% | ||
| Q3 24 | -0.9% | -4.3% | ||
| Q2 24 | -4.6% | -11.5% | ||
| Q1 24 | -3.1% | -10.7% |
| Q4 25 | -178.3% | 25.0% | ||
| Q3 25 | -8.3% | 7.5% | ||
| Q2 25 | -135.2% | -0.9% | ||
| Q1 25 | -10.3% | -21.4% | ||
| Q4 24 | -5.3% | 26.3% | ||
| Q3 24 | 4.1% | -1.6% | ||
| Q2 24 | -5.4% | -8.9% | ||
| Q1 24 | -6.5% | -7.5% |
| Q4 25 | $-1.68 | $0.46 | ||
| Q3 25 | $-0.08 | $0.10 | ||
| Q2 25 | $-1.15 | $-0.01 | ||
| Q1 25 | $-0.09 | $-0.23 | ||
| Q4 24 | $-0.04 | $0.40 | ||
| Q3 24 | $0.03 | $-0.02 | ||
| Q2 24 | $-0.04 | $-0.10 | ||
| Q1 24 | $-0.06 | $-0.08 |
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 | $137.5M |
| Total DebtLower is stronger | $280.1M | — |
| Stockholders' EquityBook value | $484.4M | $354.6M |
| Total Assets | $1.2B | $488.0M |
| Debt / EquityLower = less leverage | 0.58× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $115.7M | $137.5M | ||
| Q3 25 | $95.7M | $135.4M | ||
| Q2 25 | $162.6M | $116.9M | ||
| Q1 25 | $165.5M | $112.9M | ||
| Q4 24 | $189.5M | $116.2M | ||
| Q3 24 | $168.7M | $101.7M | ||
| Q2 24 | $147.1M | $102.5M | ||
| Q1 24 | $128.3M | $110.6M |
| 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 | $484.4M | $354.6M | ||
| Q3 25 | $616.9M | $321.9M | ||
| Q2 25 | $633.7M | $306.8M | ||
| Q1 25 | $755.7M | $295.5M | ||
| Q4 24 | $761.3M | $292.0M | ||
| Q3 24 | $754.7M | $257.5M | ||
| Q2 24 | $815.4M | $243.0M | ||
| Q1 24 | $813.8M | $233.9M |
| Q4 25 | $1.2B | $488.0M | ||
| Q3 25 | $1.3B | $453.3M | ||
| Q2 25 | $1.4B | $435.6M | ||
| Q1 25 | $1.5B | $424.6M | ||
| Q4 24 | $1.6B | $432.7M | ||
| Q3 24 | $1.6B | $390.4M | ||
| Q2 24 | $1.5B | $376.8M | ||
| Q1 24 | $1.5B | $356.7M |
| 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 | $23.3M | $15.0M |
| Free Cash FlowOCF − Capex | $23.2M | $12.8M |
| FCF MarginFCF / Revenue | 29.6% | 13.8% |
| Capex IntensityCapex / Revenue | 0.1% | 2.4% |
| Cash ConversionOCF / Net Profit | — | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | $90.7M | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.3M | $15.0M | ||
| Q3 25 | $32.2M | $22.1M | ||
| Q2 25 | $33.1M | $8.2M | ||
| Q1 25 | $2.5M | $6.6M | ||
| Q4 24 | $34.3M | $22.2M | ||
| Q3 24 | $60.1M | $10.2M | ||
| Q2 24 | $31.0M | $18.5M | ||
| Q1 24 | $24.8M | $7.2M |
| Q4 25 | $23.2M | $12.8M | ||
| Q3 25 | $32.1M | $19.5M | ||
| Q2 25 | $33.0M | $81.0K | ||
| Q1 25 | $2.4M | $-7.6M | ||
| Q4 24 | $34.0M | $8.5M | ||
| Q3 24 | $59.8M | $-9.2M | ||
| Q2 24 | $30.5M | $1.8M | ||
| Q1 24 | $24.7M | $-6.8M |
| Q4 25 | 29.6% | 13.8% | ||
| Q3 25 | 41.3% | 28.8% | ||
| Q2 25 | 43.6% | 0.1% | ||
| Q1 25 | 3.0% | -14.5% | ||
| Q4 24 | 43.5% | 11.2% | ||
| Q3 24 | 75.6% | -15.9% | ||
| Q2 24 | 40.7% | 3.4% | ||
| Q1 24 | 30.6% | -13.3% |
| Q4 25 | 0.1% | 2.4% | ||
| Q3 25 | 0.2% | 3.9% | ||
| Q2 25 | 0.1% | 12.9% | ||
| Q1 25 | 0.2% | 27.0% | ||
| Q4 24 | 0.3% | 18.3% | ||
| Q3 24 | 0.3% | 33.5% | ||
| Q2 24 | 0.6% | 31.8% | ||
| Q1 24 | 0.1% | 27.3% |
| Q4 25 | — | 0.65× | ||
| Q3 25 | — | 4.35× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.12× | ||
| Q3 24 | 18.52× | — | ||
| Q2 24 | — | — | ||
| 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% |
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
