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Side-by-side financial comparison of Repay Holdings Corp (RPAY) and Velocity Financial, Inc. (VEL). Click either name above to swap in a different company.
Repay Holdings Corp is the larger business by last-quarter revenue ($78.6M vs $51.6M, roughly 1.5× Velocity Financial, Inc.). Velocity Financial, Inc. runs the higher net margin — 67.3% vs -178.3%, a 245.6% gap on every dollar of revenue. On growth, Velocity Financial, Inc. posted the faster year-over-year revenue change (32.8% vs 0.4%). Repay Holdings Corp produced more free cash flow last quarter ($23.2M vs $17.9M). Over the past eight quarters, Velocity Financial, Inc.'s revenue compounded faster (32.3% 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.
Velocity Financial, Inc. is a U.S.-headquartered real estate finance company that offers specialized mortgage loan solutions primarily for residential investment properties. It partners with independent mortgage brokers nationwide, providing real estate investors with short-term bridge loans and long-term rental property financing options tailored to their operational needs.
RPAY vs VEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $78.6M | $51.6M |
| Net Profit | $-140.1M | $34.8M |
| Gross Margin | 74.2% | — |
| Operating Margin | -182.2% | 97.0% |
| Net Margin | -178.3% | 67.3% |
| Revenue YoY | 0.4% | 32.8% |
| Net Profit YoY | -3304.1% | 67.0% |
| EPS (diluted) | $-1.68 | $0.90 |
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 | $51.6M | ||
| Q3 25 | $77.7M | $49.1M | ||
| Q2 25 | $75.6M | $47.6M | ||
| Q1 25 | $77.3M | $37.5M | ||
| Q4 24 | $78.3M | $38.9M | ||
| Q3 24 | $79.1M | $35.1M | ||
| Q2 24 | $74.9M | $32.4M | ||
| Q1 24 | $80.7M | $29.5M |
| Q4 25 | $-140.1M | $34.8M | ||
| Q3 25 | $-6.4M | $25.4M | ||
| Q2 25 | $-102.3M | $26.0M | ||
| Q1 25 | $-7.9M | $18.9M | ||
| Q4 24 | $-4.1M | $20.8M | ||
| Q3 24 | $3.2M | $15.8M | ||
| Q2 24 | $-4.1M | $14.8M | ||
| Q1 24 | $-5.2M | $17.3M |
| Q4 25 | 74.2% | — | ||
| Q3 25 | 74.4% | — | ||
| Q2 25 | 75.7% | — | ||
| Q1 25 | 75.9% | — | ||
| Q4 24 | 76.3% | — | ||
| Q3 24 | 77.8% | — | ||
| Q2 24 | 78.2% | — | ||
| Q1 24 | 76.2% | — |
| Q4 25 | -182.2% | 97.0% | ||
| Q3 25 | -3.9% | 72.1% | ||
| Q2 25 | -138.7% | 71.3% | ||
| Q1 25 | -4.7% | 71.7% | ||
| Q4 24 | -1.5% | 82.5% | ||
| Q3 24 | -0.9% | 60.6% | ||
| Q2 24 | -4.6% | 61.3% | ||
| Q1 24 | -3.1% | 78.8% |
| Q4 25 | -178.3% | 67.3% | ||
| Q3 25 | -8.3% | 51.7% | ||
| Q2 25 | -135.2% | 54.6% | ||
| Q1 25 | -10.3% | 50.4% | ||
| Q4 24 | -5.3% | 53.5% | ||
| Q3 24 | 4.1% | 45.1% | ||
| Q2 24 | -5.4% | 45.6% | ||
| Q1 24 | -6.5% | 58.5% |
| Q4 25 | $-1.68 | $0.90 | ||
| Q3 25 | $-0.08 | $0.65 | ||
| Q2 25 | $-1.15 | $0.69 | ||
| Q1 25 | $-0.09 | $0.51 | ||
| Q4 24 | $-0.04 | $0.56 | ||
| Q3 24 | $0.03 | $0.44 | ||
| Q2 24 | $-0.04 | $0.42 | ||
| Q1 24 | $-0.06 | $0.49 |
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 | $92.1M |
| Total DebtLower is stronger | $280.1M | — |
| Stockholders' EquityBook value | $484.4M | $672.5M |
| Total Assets | $1.2B | $7.4B |
| Debt / EquityLower = less leverage | 0.58× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $115.7M | $92.1M | ||
| Q3 25 | $95.7M | $99.0M | ||
| Q2 25 | $162.6M | $79.6M | ||
| Q1 25 | $165.5M | $51.7M | ||
| Q4 24 | $189.5M | $49.9M | ||
| Q3 24 | $168.7M | $44.1M | ||
| Q2 24 | $147.1M | $47.4M | ||
| Q1 24 | $128.3M | $34.8M |
| 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 | $672.5M | ||
| Q3 25 | $616.9M | $634.3M | ||
| Q2 25 | $633.7M | $597.9M | ||
| Q1 25 | $755.7M | $563.2M | ||
| Q4 24 | $761.3M | $516.9M | ||
| Q3 24 | $754.7M | $484.6M | ||
| Q2 24 | $815.4M | $471.3M | ||
| Q1 24 | $813.8M | $452.9M |
| Q4 25 | $1.2B | $7.4B | ||
| Q3 25 | $1.3B | $7.0B | ||
| Q2 25 | $1.4B | $6.5B | ||
| Q1 25 | $1.5B | $6.0B | ||
| Q4 24 | $1.6B | $5.5B | ||
| Q3 24 | $1.6B | $5.2B | ||
| Q2 24 | $1.5B | $4.9B | ||
| Q1 24 | $1.5B | $4.6B |
| 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 | $18.2M |
| Free Cash FlowOCF − Capex | $23.2M | $17.9M |
| FCF MarginFCF / Revenue | 29.6% | 34.6% |
| Capex IntensityCapex / Revenue | 0.1% | 0.5% |
| Cash ConversionOCF / Net Profit | — | 0.52× |
| TTM Free Cash FlowTrailing 4 quarters | $90.7M | $40.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.3M | $18.2M | ||
| Q3 25 | $32.2M | $11.5M | ||
| Q2 25 | $33.1M | $7.7M | ||
| Q1 25 | $2.5M | $3.5M | ||
| Q4 24 | $34.3M | $37.8M | ||
| Q3 24 | $60.1M | $-17.6M | ||
| Q2 24 | $31.0M | $11.5M | ||
| Q1 24 | $24.8M | $10.6M |
| Q4 25 | $23.2M | $17.9M | ||
| Q3 25 | $32.1M | $11.4M | ||
| Q2 25 | $33.0M | $7.6M | ||
| Q1 25 | $2.4M | $3.5M | ||
| Q4 24 | $34.0M | $37.5M | ||
| Q3 24 | $59.8M | $-17.6M | ||
| Q2 24 | $30.5M | $11.4M | ||
| Q1 24 | $24.7M | $10.5M |
| Q4 25 | 29.6% | 34.6% | ||
| Q3 25 | 41.3% | 23.2% | ||
| Q2 25 | 43.6% | 15.9% | ||
| Q1 25 | 3.0% | 9.2% | ||
| Q4 24 | 43.5% | 96.4% | ||
| Q3 24 | 75.6% | -50.3% | ||
| Q2 24 | 40.7% | 35.1% | ||
| Q1 24 | 30.6% | 35.8% |
| Q4 25 | 0.1% | 0.5% | ||
| Q3 25 | 0.2% | 0.1% | ||
| Q2 25 | 0.1% | 0.2% | ||
| Q1 25 | 0.2% | 0.2% | ||
| Q4 24 | 0.3% | 0.7% | ||
| Q3 24 | 0.3% | 0.2% | ||
| Q2 24 | 0.6% | 0.3% | ||
| Q1 24 | 0.1% | 0.1% |
| Q4 25 | — | 0.52× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.29× | ||
| Q1 25 | — | 0.19× | ||
| Q4 24 | — | 1.81× | ||
| Q3 24 | 18.52× | -1.11× | ||
| Q2 24 | — | 0.78× | ||
| Q1 24 | — | 0.61× |
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% |
VEL
| Related Party | $19.3M | 37% |
| Nonrelated Party | $16.9M | 33% |
| Other | $15.4M | 30% |
