Paymentus Holdings Inc (PAY)

Paymentus Reports First Quarter 2026 Financial ResultsMay 4, 2026 4:05 PM
Business Wire Record revenue of $358.4 million, up 30.2% year-over-year Contribution Profit up 25.2% year-over-year Adjusted EBITDA up 41.5% year-over-year, reflecting a record 38.7% adjusted EBITDA margin Paymentus Holdings, Inc. (“Paymentus”) (NYSE: PAY), a leading provider of cloud-based bill payment technology and solutions, today announced its unaudited financial results for the quarter ended March 31, 2026. “Paymentus had a very strong start to 2026 with record revenue in the first quarter up 30.2% year-over-year, reflecting increased billers and transactions. This helped drive contribution profit growth and adjusted EBITDA growth of 25.2% and 41.5% year-over-year, respectively. These results, combined with our strong bookings and backlog at quarter-end, support our positive outlook for 2026 and beyond,” said Dushyant Sharma, Founder and CEO. First Quarter 2026 Financial and Business Highlights Revenue was $358.4 million, a year-over-year increase of 30.2%, driven largely by increased billers and transactions. Gross profit was $86.2 million, an increase of 30.6% year-over-year. Adjusted gross profit(1) was $92.4 million, up 27.3% year-over-year. Contribution profit(1) was $109.7 million, a year-over-year increase of 25.2%. Net income was $20.9 million, compared to $13.8 million in the prior period, and diluted GAAP earnings per share was $0.16, compared to $0.11 in the prior period. Non-GAAP net income(1, 2) was $26.9 million, compared to $17.6 million in the prior period, and diluted non-GAAP earnings per share(1, 2) was $0.21, compared to $0.14 in the prior period. Adjusted EBITDA(1) was $42.4 million, a 41.5% increase year-over-year, representing a 38.7% adjusted EBITDA margin(1). The Company processed 203.4 million transactions during the first quarter of 2026, an increase of 17.4% year-over-year. (1) Descriptions of the non-GAAP financial measures adjusted gross profit, contribution profit, non-GAAP net income, non-GAAP earnings per share, adjusted EBITDA, and adjusted EBITDA margin are provided below under “Use and Definitions of Non-GAAP Financial Measures,” and reconciliations are provided in the tables at the end of this release. (2) Non-GAAP net income and Non-GAAP earnings per share are adjusted for an assumed provision for income taxes based on our long-term projected non-GAAP tax rate of 25%. See “Use and Definitions of Non-GAAP Financial Measures” below for additional information regarding Non-GAAP net income and Non-GAAP earnings per share. Financial Guidance The statements in this section are forward-looking statements. For additional information regarding the use and limitations of such statements, refer to “Forward-Looking Statements” below and the “Risk Factors” section of Paymentus’ most recent Form 10-K for the fiscal year ended December 31, 2025, filed with the Securities and Exchange Commission, or SEC, on February 24, 2026.   Second Quarter 2026 Fiscal Year 2026 Revenue $340 million to $350 million $1,425 million to $1,440 million Contribution Profit $108 million to $111 million $450 million to $457 million Adjusted EBITDA $38 million to $40 million $165 million to $172 million Paymentus does not reconcile its forward-looking guidance for non-GAAP measures because certain financial information, the probable significance of which cannot be determined, is not available and cannot be reasonably estimated due to potential variability, complexity and uncertainty as to the items that would be excluded from the GAAP measure in the relevant future period. Refer to “Use of Forward-Looking Non-GAAP Measures” below for additional explanation. Conference Call Information In conjunction with this announcement, Paymentus will host a conference call for investors today at 5:00 p.m. ET (2:00 p.m. PT) to discuss first quarter 2026 results and its financial guidance for the remainder of 2026. The live webcast and replay will be available at the Investor Relations section of Paymentus’ website at ir.paymentus.com or click here. To participate via telephone, please register in advance using this link: https://register-conf.media-server.com/register/BIa78f3d0ea0fc4bc38948317a4508c430. Upon registration, telephone participants will receive a confirmation email detailing how to join the audio version of the webcast, including the dial-in number and a unique registrant ID. A replay of the webcast will be available for one year following its conclusion and accessible on the Paymentus website. About Paymentus Paymentus is a leading provider of cloud-based bill payment technology and solutions for billers and financial institutions across North America. Our omni-channel platform provides consumers with easy-to-use, flexible and secure electronic bill payment experiences through their preferred payment channel and type. Paymentus’ proprietary Instant Payment NetworkTM, or IPN, extends our reach by connecting our IPN partners’ platforms and tens of thousands of billers to our integrated billing, payment and reconciliation capabilities. For more information, please visit www.paymentus.com. Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical or current fact included in this press release are forward-looking statements, including but not limited to statements regarding bookings, backlog and pipeline, visibility into 2026 and beyond, our ability to deliver near and longer-term growth and strategic objectives, future financial performance and our second quarter and full year 2026 financial guidance. Forward-looking statements include statements containing words such as “expect,” “anticipate,” “believe,” “project,” “will” and similar expressions intended to identify forward-looking statements. These forward-looking statements are based on our current expectations. Forward-looking statements involve risks and uncertainties. Our actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks related to our ability to effectively manage our growth and expand our operations, including into new channels and industry verticals across different markets; our ability to expand and retain our biller, financial institution, partner and consumer base; our ability to timely implement new bookings and recognize anticipated revenue therefrom; our ability to manage economic challenges, including inflation; the impact of future widespread health issues on our operating results, liquidity and financial condition and on our employees, billers, financial institutions, partners, consumers and other key stakeholders; our ability to remain competitive; our ability to develop new product features and enhance our platform and brand; our use of artificial intelligence and machine learning; our future acquisitions and strategic investments; our ability to hire and retain experienced and talented employees; the impact of any cybersecurity incidents; the impact of evolving regulations and our ability to maintain regulatory compliance; and other risks and uncertainties included under the caption “Risk Factors” and elsewhere in our filings with the SEC, including, without limitation, our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on February 24, 2026, and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, which we expect to file with the SEC shortly after the date of this release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. All forward-looking statements are qualified in their entirety by this cautionary statement, and we undertake no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof. Use of Forward-Looking Non-GAAP Measures We do not meaningfully reconcile guidance for adjusted EBITDA and adjusted EBITDA margin because we cannot provide guidance for the more significant reconciling items between net income and adjusted EBITDA without unreasonable effort. This is due to the fact that future period non-GAAP guidance includes adjustments for items not indicative of our core operations, which may include, without limitation, items included in the supplemental financial information for reconciliation of reported GAAP results to non-GAAP results. Such items include acquisition-related amortization expense for acquired intangibles, foreign exchange gains and losses, adjustments to our income tax provision and certain other items we believe to be non-indicative of our ongoing operations. Such adjustments may be affected by changes in ongoing assumptions and judgments, as well as nonrecurring, unusual or unanticipated charges, expenses or gains/losses or other items that may not directly correlate to the underlying performance of our business operations. The exact amount of these adjustments is not currently determinable but may be significant. In addition, we do not meaningfully reconcile guidance for contribution profit because the determination of contribution profit is subject to variables outside our control, such as an increase in the average payment amount, changes in the payment mix, or the payment channel used by consumers that can influence contribution profit, and cannot be determined without unreasonable effort, if at all. Use and Definitions of Non-GAAP Financial Measures In addition to disclosing financial measures in accordance with accounting principles generally accepted in the United States, or GAAP, this press release and the accompanying tables contain certain non-GAAP financial measures, including adjusted gross profit, contribution profit, non-GAAP net income (including those amounts as a percentage of revenue), non-GAAP earnings per share, adjusted EBITDA, adjusted EBITDA margin, non-GAAP operating expense and free cash flow. We use non-GAAP measures to supplement financial information presented on a GAAP basis. We believe that excluding certain items from our GAAP results allows management and our board of directors to more fully understand our consolidated financial performance from period to period and helps management project our future consolidated financial performance as forecasts are developed at a level of detail different from that used to prepare GAAP-based financial measures. Adjusted gross profit is defined as gross profit adjusted for certain non-cash items, primarily stock-based compensation and amortization of acquisition-related intangible assets and capitalized software development costs. Contribution profit is defined as gross profit plus other cost of revenue. Other cost of revenue equals cost of revenue less interchange, assessment and other network fees paid by us to our payment processors. Interchange, assessment and other network fees paid by us to our payment processors are excluded from contribution profit because we believe inclusion is less directly reflective of our operating performance as we do not control the payment channel used by consumers, which is the primary determinant of the amount of interchange, assessment and other network fees. We use contribution profit to measure the amount available to fund our operations after interchange, assessment and other network fees, which are directly linked to the number of transactions we process and thus our revenue and gross profit. Adjusted EBITDA is defined as net income before interest income (expense), net, other income (expense), depreciation and amortization of acquisition-related intangible assets and capitalized software development costs, and income taxes, adjusted to exclude foreign exchange gain (loss), the effects of stock-based compensation expense and certain nonrecurring expenses that management believes are not indicative of ongoing operations. Adjusted EBITDA margin is defined as adjusted EBITDA as a percentage of contribution profit. Non-GAAP operating expense is defined as total operating expense excluding amortization of acquisition-related intangibles, stock-based compensation and other nonrecurring expenses. Management believes that the adjustment of acquisition-related intangibles amortization supplements the GAAP information with a measure that can be used to assess the comparability of operating performance. Although we exclude amortization of acquisition-related intangible assets from our non-GAAP expenses, management believes that it is important for investors to understand that such intangible assets were recorded as part of purchase accounting and contribute to revenue generation. Amortization of intangible assets that relate to past acquisitions will recur in future periods until such intangible assets have been fully amortized. Any future acquisitions may result in the amortization of additional intangible assets. Non-GAAP net income and non-GAAP EPS are defined as the applicable GAAP measure, adjusted for (1) stock-based compensation, (2) amortization of acquisition-related intangibles, (3) certain nonrecurring items such as discrete tax items, one-time expenses or other non-cash items, and (4) an assumed provision for income taxes based on our long-term projected non-GAAP tax rate. Our long-term projected non-GAAP tax rate is subject to change for a variety of reasons, including significant changes in our earnings, tax adjustments and potential future changes to business operations. We will re-evaluate our long-term projected tax rate as appropriate. We believe non-GAAP net income and non-GAAP EPS enhance the understanding of our operating performance and enable more meaningful period-to-period comparisons. Free cash flow is defined as net cash provided by (used in) operating activities less capital expenditures and capitalized internal-use software development costs. We believe these non-GAAP measures provide our investors with useful information to help them evaluate our operating results by facilitating an enhanced understanding of our operating performance and enabling them to make more meaningful period-to-period comparisons. We use these non-GAAP measures in conjunction with GAAP measures as part of our overall assessment of our performance and liquidity, including the preparation of our annual operating budget and quarterly forecasts, to evaluate the effectiveness of our business strategies, and to communicate with our board of directors concerning our financial performance and liquidity. There are limitations to the use of the non-GAAP measures presented in this press release. Our non-GAAP measures may not be comparable to similarly titled measures of other companies; other companies, including companies in our industry, may calculate non-GAAP measures differently than we do, limiting the usefulness of those measures for comparative purposes. These non-GAAP measures should not be considered in isolation from or as a substitute for financial measures prepared in accordance with GAAP. We encourage investors and others to review our financial information in its entirety, not to rely on any single financial measure, and to view our non-GAAP measures in conjunction with GAAP financial measures. For a reconciliation of these non-GAAP financial measures to GAAP measures, please see the tables for the reconciliation of GAAP to non-GAAP results included at the end of this release. PAYMENTUS HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In thousands, except share and per share data)   Three Months Ended March 31,     2026   2025   Revenue $ 358,441   $ 275,235   Cost of revenue   272,209     209,211   Gross profit   86,232     66,024   Operating expenses         Research and development   16,333     15,101   Sales and marketing   30,210     26,051   General and administrative   13,137     9,183   Total operating expenses   59,680     50,335   Income from operations   26,552     15,689   Interest income, net   2,531     2,062   Other income   8     50   Income before income taxes   29,091     17,801   Provision for income taxes   8,210     3,988   Net income $ 20,881   $ 13,813   Net income per share         Basic $ 0.17   $ 0.11   Diluted $ 0.16   $ 0.11   Weighted-average number of shares used to compute net income per share         Basic   125,665,214     124,941,781   Diluted   129,314,000     128,801,974   PAYMENTUS HOLDINGS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (In thousands, except share and per share data)   March 31,   December 31,     2026   2025   Assets         Current assets         Cash and cash equivalents $ 338,780   $ 320,908   Restricted cash and cash equivalents   3,348     3,630   Accounts and other receivables, net of allowance for expected credit losses of $602 and $452, respectively   117,213     102,338   Income tax receivable   1,085     1,207   Prepaid expenses and other assets   12,077     13,248   Total current assets   472,503     441,331   Property and equipment, net   790     877   Capitalized internal-use software development costs, net   71,518     70,920   Intangible assets, net   11,170     11,987   Goodwill   131,790     131,815   Operating lease right-of-use assets   6,200     6,380   Deferred tax asset   765     314   Prepaid expenses and other assets, less current portion   3,868     4,261   Total assets $ 698,604   $ 667,885   Liabilities and Stockholders’ Equity         Current liabilities         Accounts payable $ 73,468   $ 63,972   Accrued and other liabilities   16,375     27,671   Current portion of operating lease liabilities   2,380     2,294   Contract liabilities   5,042     3,496   Income tax payable   9,814     1,416   Total current liabilities   107,079     98,849   Operating lease liabilities, less current portion   4,246     4,560   Contract liabilities, less current portion   3,196     3,404   Accrued and other liabilities, less current portion   590     683   Total liabilities   115,111     107,496   Stockholders’ equity         Class A common stock, $0.0001 par value per share, 883,950,000 shares authorized as of March 31, 2026 and December 31, 2025; 62,936,502 and 62,459,587 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively   6     6   Class B common stock, $0.0001 par value per share, 111,050,000 shares authorized as of March 31, 2026 and December 31, 2025; 62,852,835 and 63,121,661 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively   6     6   Additional paid-in capital   400,365     397,954   Accumulated other comprehensive loss   (615 )   (427 ) Retained earnings   183,731     162,850   Total stockholders’ equity   583,493     560,389   Total liabilities and stockholders' equity $ 698,604   $ 667,885   PAYMENTUS HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands)   Three Months Ended March 31,     2026   2025   Cash flows from operating activities         Net income $ 20,881   $ 13,813   Adjustments to reconcile net income to net cash provided by operating activities         Depreciation and amortization   9,892     10,740   Deferred income taxes   (452 )   (1,013 ) Stock-based compensation   5,694     3,042   Amortization of capitalized warrants cost   285     559   Non-cash lease expense   604     573   Amortization of capitalized contract acquisition cost   731     418   Provision for expected credit losses   160     (122 ) Change in operating assets and liabilities         Accounts and other receivables   (15,148 )   19,948   Prepaid expenses and other assets   371     (377 ) Accounts payable   9,504     5,691   Accrued and other liabilities   (11,262 )   (7,120 ) Operating lease liabilities   (647 )   (604 ) Contract liabilities   1,338     401   Income taxes receivable, net of payable   8,501     4,492   Net cash provided by operating activities   30,452     50,441   Cash flows from investing activities         Purchases of property and equipment   (80 )   (60 ) Purchases of interest-bearing deposits   (767 )   —   Proceeds from matured interest-bearing deposits   865     1,051   Capitalized internal-use software development costs   (9,461 )   (9,278 ) Net cash used in investing activities   (9,443 )   (8,287 ) Cash flows from financing activities         Proceeds from exercise of stock-based awards   3     51   Payments of taxes withheld on net settled vesting of restricted stock units   (3,286 )   (1,943 ) Net cash used in financing activities   (3,283 )   (1,892 ) Effect of exchange rate changes on Cash and cash equivalents and Restricted cash   (136 )   (25 ) Net increase in cash, cash equivalents and Restricted cash   17,590     40,237   Cash and cash equivalents and Restricted cash at the beginning of period   324,538     209,411   Cash and cash equivalents and Restricted cash at the end of period $ 342,128   $ 249,648   Reconciliation of Cash and cash equivalents and Restricted Cash:         Cash and cash equivalents at the beginning of period   320,908     205,900   Restricted cash at the beginning of period   3,630     3,511   Cash and cash equivalents and Restricted cash at the beginning of period $ 324,538   $ 209,411   Cash and cash equivalents at the end of period   338,780     245,849   Restricted cash at the end of period   3,348     3,799   Cash and cash equivalents and Restricted cash at the end of period $ 342,128   $ 249,648   PAYMENTUS HOLDINGS, INC. GAAP to Non-GAAP Reconciliations (Unaudited) (in thousands, except percentages and per share data)   The following tables set forth our non-GAAP financial measures with reconciliations to the most directly comparable GAAP financial measures.   Adjusted Gross Profit   Three Months Ended March 31,     2026   2025     (in thousands)   Gross profit $ 86,232   $ 66,024   Stock-based compensation   69     66   Amortization of capitalized software development costs   6,056     5,638   Amortization of acquisition-related intangibles   —     828   Adjusted gross profit $ 92,357   $ 72,556   Contribution Profit     Three Months Ended March 31,     2026   2025     (in thousands)   Gross profit $ 86,232   $ 66,024   Plus: other cost of revenue   23,467     21,618   Contribution profit $ 109,699   $ 87,642   Adjusted EBITDA and Adjusted EBITDA Margin     Three Months Ended March 31,     2026   2025     (in thousands)   Net income — GAAP $ 20,881   $ 13,813   Interest income, net   (2,531 )   (2,062 ) Provision for income taxes   8,210     3,988   Amortization of capitalized software development costs   8,916     8,426   Amortization of acquisition-related intangibles   817     2,137   Depreciation   159     177   EBITDA $ 36,452   $ 26,479             Adjustments         Foreign exchange gain   (8 )   (50 ) Stock-based compensation   5,974     3,545   Adjusted EBITDA $ 42,418   $ 29,974   Adjusted EBITDA margin   38.7 %   34.2 % PAYMENTUS HOLDINGS, INC. GAAP to Non-GAAP Reconciliations (Unaudited) (in thousands, except percentages and per share data)   Non-GAAP Operating Expense     Three Months Ended March 31,     2026   2025     (in thousands)   Operating expenses — GAAP $ 59,680   $ 50,335   Stock-based compensation   (5,905 )   (3,479 ) Amortization of acquisition-related intangibles   (817 )   (1,309 ) Non-GAAP operating expense $ 52,958   $ 45,547   Non-GAAP Net Income & Non-GAAP EPS(1)     Three Months Ended March 31,     2026   2025     (in thousands)   Net income — GAAP $ 20,881   $ 13,813   Add: Provision for income taxes — GAAP   8,210     3,988   Income before taxes — GAAP   29,091     17,801   Add:         Stock-based compensation   5,974     3,545   Amortization of acquisition-related intangibles   817     2,137   Income before taxes — non-GAAP   35,882     23,483   Provision for income taxes — non-GAAP   8,971     5,871   Net income — non-GAAP $ 26,911   $ 17,612             Weighted-average shares of common stock — diluted   129,314,000     128,801,974             Earnings per share — diluted (GAAP) $ 0.16   $ 0.11   Earnings per share — diluted (non-GAAP) $ 0.21   $ 0.14   (1) Non-GAAP financial information for the periods shown reflects an assumed provision for income taxes based on our long-term projected tax rate of 25%. Due to the differences in the tax treatment of items excluded from non-GAAP earnings, our long-term projected tax rate on non-GAAP net income may differ from our GAAP tax rate and from our actual tax liabilities. Free Cash Flow     Three Months Ended March 31,     2026   2025     (in thousands)   Net cash provided by operating activities $ 30,452   $ 50,441   Purchases of property and equipment   (80 )   (60 ) Capitalized internal-use software development costs   (9,461 )   (9,278 ) Free cash flow $ 20,911   $ 41,103   CATEGORY: EARNINGS NEWS View source version on businesswire.com: https://www.businesswire.com/news/home/20260504613242/en/ At the Company
Sanjay Kalra
Chief Financial Officer
Paymentus Holdings, Inc.
ir@paymentus.com Investor Relations
David Hanover
paymentus@kcsa.com Media Relations
Tony Labriola
media-relations@paymentus.com Original: Paymentus Reports First Quarter 2026 Financial Results

Paymentus to Report First Quarter 2026 Earnings Results and Host Webcast on May 4, 2026April 20, 2026 4:05 PM
Business Wire
Paymentus Holdings, Inc. (“Paymentus”) (NYSE: PAY), a leading provider of cloud-based bill payment technology solutions, will announce its first quarter financial results after the market close on Monday, May 4, 2026.


The Company will discuss the results in a live webcast at 5 p.m. Eastern Time on May 4, 2026.




Event:






Paymentus First Quarter 2026 Earnings Conference Call








Date:






Monday, May 4, 2026








Time:






5:00 p.m. Eastern Time








Webcast:






The 'Investor Relations' section of the Paymentus website at ir.paymentus.com or Click Here.







To participate via telephone, please register in advance using this link: https://register-conf.media-server.com/register/BIa78f3d0ea0fc4bc38948317a4508c430.


Upon registration, telephone participants will receive a confirmation email detailing how to join the audio version of the webcast, including the dial-in number and a unique registrant ID.


A replay of the webcast will be available for one year following its conclusion and accessible on the Paymentus website.


About Paymentus


Paymentus is a leading provider of cloud-based bill payment technology and solutions for billers and financial institutions across North America. Our omni-channel platform provides consumers with easy-to-use, flexible and secure electronic bill payment experiences through their preferred payment channel and type. Paymentus’ proprietary Instant Payment Network™, or IPN, extends our reach by connecting our IPN partners’ platforms and tens of thousands of billers to our integrated billing, payment, and reconciliation capabilities. For more information, please visit www.paymentus.com.


CATEGORY: EARNINGS NEWS

View source version on businesswire.com: https://www.businesswire.com/news/home/20260420764225/en/
Investor Contact:

David Hanover, Senior Vice President

KCSA Strategic Communications

paymentus@kcsa.com


Tony Labriola

media-relations@paymentus.com


Original: Paymentus to Report First Quarter 2026 Earnings Results and Host Webcast on May 4, 2026

Paymentus to Participate in Upcoming Conferences in MarchFebruary 25, 2026 4:05 PM
Business Wire
Paymentus Holdings, Inc. (“Paymentus”) (NYSE: PAY), a leading provider of cloud-based bill payment technology solutions, today announced that Dushyant Sharma, Chief Executive Officer, and Sanjay Kalra, Chief Financial Officer, will participate in the following investor conferences:



Raymond James 47th Annual Institutional Investors Conference in Orlando, Florida on Tuesday, March 3rd where Mr. Sharma and Mr. Kalra will participate in a fireside chat at 8:40 am ET



2026 Wolfe Research FinTech Forum in New York on Wednesday, March 11th where Mr. Sharma and Mr. Kalra will participate in a fireside chat at 3:40 pm ET



The fireside chats will be webcast live and available for replay on Paymentus’ investor relations website at ir.paymentus.com.


Management will host investor meetings at the conferences. For further information, please contact your Raymond James and Wolfe Research representatives or email paymentus@kcsa.com.


About Paymentus


Paymentus is a leading provider of cloud-based bill payment technology and solutions for billers and financial institutions across North America. Our omni-channel platform provides consumers with easy-to-use, flexible and secure electronic bill payment experiences through their preferred payment channel and type. Paymentus’ proprietary Instant Payment Network™, or IPN, extends our reach by connecting our IPN partners’ platforms and tens of thousands of billers to our integrated billing, payment, and reconciliation capabilities. For more information, please visit www.paymentus.com.


CATEGORY: CORPORATE NEWS

View source version on businesswire.com: https://www.businesswire.com/news/home/20260225627070/en/
Investor Contact:

David Hanover, Senior Vice President

KCSA Strategic Communications

paymentus@kcsa.com


Media Contact:

Tony Labriola

media-relations@paymentus.com


Original: Paymentus to Participate in Upcoming Conferences in March

Paymentus Reports Fourth Quarter and Full Year 2025 Financial ResultsFebruary 23, 2026 4:05 PM
Business Wire
Quarterly Revenue of $330.5 million, up 28.1% year-over-year


Contribution Profit up 24.0% and Adjusted EBITDA up 46.3% year-over-year


Paymentus Holdings, Inc. (“Paymentus”) (NYSE: PAY), a leading provider of cloud-based bill payment technology and solutions, today announced its unaudited financial results for its fourth quarter and full year ended December 31, 2025.


“Paymentus ended 2025 on a firm footing as we continued to execute on our long-term strategy, with fourth quarter and full year results that again surpassed our expectations. This included fourth quarter revenue that increased 28.1% year-over-year, with contribution profit and adjusted EBITDA increasing 24.0% and 46.3% year-over-year, respectively. We ended the year with a substantial backlog, giving us considerable visibility as we head into 2026 and beyond,” said Dushyant Sharma, Founder and CEO.


Fourth Quarter 2025 Financial and Business Highlights



Revenue was a record $330.5 million, a year-over-year increase of 28.1%, driven largely by increased billers and transactions.



Gross profit was $84.0 million, an increase of 27.2% year-over-year. Adjusted gross profit(1) was $89.8 million, up 25.0% year-over-year.



Contribution profit(1) was $106.9 million, a year-over-year increase of 24.0%.



Net income was $20.7 million compared to $13.1 million in the prior period, and diluted GAAP earnings per share was $0.16 compared to $0.10 in the prior period.



Non-GAAP net income(1, 2) was $25.4 million compared to $16.3 million in the prior period, and diluted non-GAAP earnings per share(1, 2) was $0.20 compared to $0.13 in the prior period.



Adjusted EBITDA(1) was $39.9 million, representing a 37.3% adjusted EBITDA margin(1), a 46.3% increase in adjusted EBITDA year-over-year.



The Company processed 192.7 million transactions during the fourth quarter of 2025, an increase of 16.1% year-over-year.



Full Year 2025 Financial and Business Highlights



Revenue was $1,196.5 million, an increase of 37.3% year-over-year, driven largely by increased billers and transactions.



Gross profit was $296.3 million, an increase of 24.4% year-over-year. Adjusted gross profit(1) was $321.4 million, up 23.8% year-over-year.



Contribution profit(1) was $386.3 million, a year-over-year increase of 23.8%.



Net income was $66.9 million compared to $44.2 million in the prior period, and diluted GAAP earnings per share was $0.52 compared to $0.35 in the prior period.



Non-GAAP net income(1, 2) was $84.9 million compared to $56.2 million in the prior period, and diluted non-GAAP earnings per share(1, 2) was $0.66 compared to $0.44 in the prior period.



Adjusted EBITDA(1) was $137.4 million for the full year of 2025, representing a 35.6% adjusted EBITDA margin(1), an increase of 45.9% year-over-year.



The Company processed 724.0 million transactions for the full year of 2025, an increase of 21.3% year-over-year.



(1) Descriptions of the non-GAAP financial measures adjusted gross profit, contribution profit, non-GAAP net income, non-GAAP earnings per share, adjusted EBITDA, and adjusted EBITDA margin are provided below under “Use and Definitions of Non-GAAP Financial Measures,” and reconciliations are provided in the tables at the end of this release.


(2) Non-GAAP net income and Non-GAAP earnings per share are adjusted for an assumed provision for income taxes based on our long-term projected non-GAAP tax rate of 25%. See “Use and Definitions of Non-GAAP Financial Measures” below for additional information regarding Non-GAAP net income and Non-GAAP earnings per share.


Financial Guidance


The statements in this section are forward-looking statements. For additional information regarding the use and limitations of such statements, refer to “Forward-Looking Statements” below and the “Risk Factors” section of Paymentus’ most recent Form 10-K for the fiscal year ended December 31, 2024, filed with the Securities and Exchange Commission, or SEC, on March 11, 2025, subsequent Forms 10-Q filed with the SEC in 2025, and Form 10-K for the fiscal year ended December 31, 2025, expected to be filed with the SEC shortly after the date of this release.




 






First Quarter 2026






Fiscal Year 2026








Revenue






$330 million to $340 million






$1,390 million to $1,410 million








Contribution Profit






$103 million to $105 million






$442 million to $452 million








Adjusted EBITDA






$36 million to $38 million






$157 million to $167 million







Paymentus does not reconcile its forward-looking guidance for non-GAAP measures because certain financial information, the probable significance of which cannot be determined, is not available and cannot be reasonably estimated due to potential variability, complexity and uncertainty as to the items that would be excluded from the GAAP measure in the relevant future period. Refer to “Use of Forward-Looking Non-GAAP Measures” below for additional explanation.


Conference Call Information


In conjunction with this announcement, Paymentus will host a conference call for investors today at 5:00 p.m. ET (2:00 p.m. PT) to discuss its fourth quarter and full year 2025 results and its financial guidance for 2026. The live webcast and replay will be available at the Investor Relations section of Paymentus’ website at ir.paymentus.com or click here. To participate via telephone, dial 1-833-470-1428 (US Toll-Free) or 1-646-844-6383 (International), access code 933764. A replay will be available after 5:00 p.m. PT on the same website.


About Paymentus


Paymentus is a leading provider of cloud-based bill payment technology and solutions for billers and financial institutions across North America. Our omni-channel platform provides consumers with easy-to-use, flexible and secure electronic bill payment experiences through their preferred payment channel and type. Paymentus’ proprietary Instant Payment NetworkTM, or IPN, extends our reach by connecting our IPN partners’ platforms and tens of thousands of billers to our integrated billing, payment and reconciliation capabilities. For more information, please visit www.paymentus.com.


Forward-Looking Statements


This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical or current fact included in this press release are forward-looking statements, including but not limited to statements regarding bookings and backlog, visibility into 2026 and beyond, our ability to deliver near and longer-term growth and strategic objectives, future financial performance and our first quarter and full year 2026 financial guidance. Forward-looking statements include statements containing words such as “expect,” “anticipate,” “believe,” “project,” “will” and similar expressions intended to identify forward-looking statements.


These forward-looking statements are based on our current expectations. Forward-looking statements involve risks and uncertainties. Our actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks related to our ability to effectively manage our growth and expand our operations, including into new channels and industry verticals across different markets; our ability to expand and retain our biller, financial institution, partner and consumer base; our ability to timely implement new bookings and recognize anticipated revenue therefrom; our ability to manage economic challenges, including inflation; the impact of future widespread health issues on our operating results, liquidity and financial condition and on our employees, billers, financial institutions, partners, consumers and other key stakeholders; our ability to remain competitive; our ability to develop new product features and enhance our platform and brand; our use of artificial intelligence and machine learning; our future acquisitions and strategic investments; our ability to hire and retain experienced and talented employees; the impact of any cybersecurity incidents; the impact of evolving regulations and our ability to maintain regulatory compliance; and other risks and uncertainties included under the caption “Risk Factors” and elsewhere in our filings with the SEC, including, without limitation, our Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC on March 11, 2025, subsequent Quarterly Reports on Form 10-Q filed with the SEC in 2025, and our Annual Report on Form 10-K for the year ended December 31, 2025, which we expect to file with the SEC shortly after the date of this release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.


All forward-looking statements are qualified in their entirety by this cautionary statement, and we undertake no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.


Use of Forward-Looking Non-GAAP Measures


We do not meaningfully reconcile guidance for adjusted EBITDA and adjusted EBITDA margin because we cannot provide guidance for the more significant reconciling items between net income and adjusted EBITDA without unreasonable effort. This is due to the fact that future period non-GAAP guidance includes adjustments for items not indicative of our core operations, which may include, without limitation, items included in the supplemental financial information for reconciliation of reported GAAP results to non-GAAP results. Such items include acquisition-related amortization expense for acquired intangibles, foreign exchange gains and losses, adjustments to our income tax provision and certain other items we believe to be non-indicative of our ongoing operations. Such adjustments may be affected by changes in ongoing assumptions and judgments, as well as nonrecurring, unusual or unanticipated charges, expenses or gains/losses or other items that may not directly correlate to the underlying performance of our business operations. The exact amount of these adjustments is not currently determinable but may be significant. In addition, we do not meaningfully reconcile guidance for contribution profit because the determination of contribution profit is subject to variables outside our control, such as an increase in the average payment amount, changes in the payment mix, or the payment channel used by consumers that can influence contribution profit, and cannot be determined without unreasonable effort, if at all.


Use and Definitions of Non-GAAP Financial Measures


In addition to disclosing financial measures in accordance with accounting principles generally accepted in the United States, or GAAP, this press release and the accompanying tables contain certain non-GAAP financial measures, including adjusted gross profit, contribution profit, non-GAAP net income (including those amounts as a percentage of revenue), non-GAAP earnings per share, adjusted EBITDA, adjusted EBITDA margin, non-GAAP operating expense and free cash flow. We use non-GAAP measures to supplement financial information presented on a GAAP basis. We believe that excluding certain items from our GAAP results allows management and our board of directors to more fully understand our consolidated financial performance from period to period and helps management project our future consolidated financial performance as forecasts are developed at a level of detail different from that used to prepare GAAP-based financial measures.


Adjusted gross profit is defined as gross profit adjusted for certain non-cash items, primarily stock-based compensation and amortization of acquisition-related intangible assets and capitalized software development costs.


Contribution profit is defined as gross profit plus other cost of revenue. Other cost of revenue equals cost of revenue less interchange, assessment and other network fees paid by us to our payment processors. Interchange, assessment and other network fees paid by us to our payment processors are excluded from contribution profit because we believe inclusion is less directly reflective of our operating performance as we do not control the payment channel used by consumers, which is the primary determinant of the amount of interchange, assessment and other network fees. We use contribution profit to measure the amount available to fund our operations after interchange, assessment and other network fees, which are directly linked to the number of transactions we process and thus our revenue and gross profit.


Adjusted EBITDA is defined as net income before interest income (expense), net, other income (expense), depreciation and amortization of acquisition-related intangible assets and capitalized software development costs, and income taxes, adjusted to exclude foreign exchange gain (loss), the effects of stock-based compensation expense and certain nonrecurring expenses that management believes are not indicative of ongoing operations.


Adjusted EBITDA margin is defined as adjusted EBITDA as a percentage of contribution profit.


Non-GAAP operating expense is defined as total operating expense excluding amortization of acquisition-related intangibles, stock-based compensation and other nonrecurring expenses. Management believes that the adjustment of acquisition-related intangibles amortization supplements the GAAP information with a measure that can be used to assess the comparability of operating performance. Although we exclude amortization of acquisition-related intangible assets from our non-GAAP expenses, management believes that it is important for investors to understand that such intangible assets were recorded as part of purchase accounting and contribute to revenue generation. Amortization of intangible assets that relate to past acquisitions will recur in future periods until such intangible assets have been fully amortized. Any future acquisitions may result in the amortization of additional intangible assets.


Non-GAAP net income and non-GAAP EPS are defined as the applicable GAAP measure, adjusted for (1) stock-based compensation, (2) amortization of acquisition-related intangibles, (3) certain nonrecurring items such as discrete tax items, one-time expenses or other non-cash items, and (4) an assumed provision for income taxes based on our long-term projected non-GAAP tax rate. Our long-term projected non-GAAP tax rate is subject to change for a variety of reasons, including significant changes in our earnings, tax adjustments and potential future changes to business operations. We will re-evaluate our long-term projected tax rate as appropriate.


We believe non-GAAP net income and non-GAAP EPS enhance the understanding of our operating performance and enable more meaningful period-to-period comparisons.


Free cash flow is defined as net cash provided by (used in) operating activities less capital expenditures and capitalized internal-use software development costs.


We believe these non-GAAP measures provide our investors with useful information to help them evaluate our operating results by facilitating an enhanced understanding of our operating performance and enabling them to make more meaningful period-to-period comparisons.


We use these non-GAAP measures in conjunction with GAAP measures as part of our overall assessment of our performance and liquidity, including the preparation of our annual operating budget and quarterly forecasts, to evaluate the effectiveness of our business strategies, and to communicate with our board of directors concerning our financial performance and liquidity. There are limitations to the use of the non-GAAP measures presented in this press release. Our non-GAAP measures may not be comparable to similarly titled measures of other companies; other companies, including companies in our industry, may calculate non-GAAP measures differently than we do, limiting the usefulness of those measures for comparative purposes. These non-GAAP measures should not be considered in isolation from or as a substitute for financial measures prepared in accordance with GAAP.


We encourage investors and others to review our financial information in its entirety, not to rely on any single financial measure, and to view our non-GAAP measures in conjunction with GAAP financial measures. For a reconciliation of these non-GAAP financial measures to GAAP measures, please see the tables for the reconciliation of GAAP to non-GAAP results included at the end of this release.




PAYMENTUS HOLDINGS, INC.




CONSOLIDATED STATEMENTS OF OPERATIONS




(In thousands, except share and per share data)








 






 






 






 






 








 






Three Months Ended December 31,






 






Year Ended

December 31,






 








 






2025






 






2024






 






2025






 






2024






 








Revenue






$






330,458






 






$






257,877






 






$






1,196,507






 






$






871,745






 








Cost of revenue






 






246,466






 






 






191,848






 






 






900,165






 






 






633,575






 








Gross profit






 






83,992






 






 






66,029






 






 






296,342






 






 






238,170






 








Operating expenses






 






 






 






 






 






 






 






 








Research and development






 






15,923






 






 






13,561






 






 






61,474






 






 






51,334






 








Sales and marketing






 






30,789






 






 






28,596






 






 






111,928






 






 






105,052






 








General and administrative






 






13,212






 






 






9,682






 






 






47,400






 






 






36,927






 








Total operating expenses






 






59,924






 






 






51,839






 






 






220,802






 






 






193,313






 








Income from operations






 






24,068






 






 






14,190






 






 






75,540






 






 






44,857






 








Interest income






 






2,530






 






 






2,020






 






 






9,506






 






 






8,742






 








Other (expense) income






 






(95






)






 






70






 






 






229






 






 






345






 








Income before income taxes






 






26,503






 






 






16,280






 






 






85,275






 






 






53,944






 








Provision for income taxes






 






5,830






 






 






3,131






 






 






18,338






 






 






9,775






 








Net income






$






20,673






 






$






13,149






 






$






66,937






 






$






44,169






 








Net income per share






 






 






 






 






 






 






 






 








Basic






$






0.16






 






$






0.11






 






$






0.53






 






$






0.36






 








Diluted






$






0.16






 






$






0.10






 






$






0.52






 






$






0.35






 








Weighted-average number of shares used to compute net income per share






 






 






 






 






 






 






 






 








Basic






 






125,503,703






 






 






124,732,054






 






 






125,246,892






 






 






124,372,031






 








Diluted






 






129,308,186






 






 






128,714,996






 






 






129,113,684






 






 






127,714,622






 









PAYMENTUS HOLDINGS, INC.




CONSOLIDATED BALANCE SHEETS




(In thousands, except share and per share data)








 






 






 






 






 








 






December 31,






 






December 31,






 








 






2025






 






2024






 








Assets






 






 






 






 








Current assets






 






 






 






 








Cash and cash equivalents






$






320,908






 






$






205,900






 








Restricted cash and cash equivalents






 






3,630






 






 






3,511






 








Accounts and other receivables, net of allowance for expected credit losses of $452 and $257, respectively






 






102,338






 






 






119,816






 








Income tax receivable






 






1,207






 






 






3,356






 








Prepaid expenses and other assets






 






13,248






 






 






13,058






 








Total current assets






 






441,331






 






 






345,641






 








Property and equipment, net






 






877






 






 






1,157






 








Capitalized internal-use software development costs, net






 






70,920






 






 






67,375






 








Intangible assets, net






 






11,987






 






 






19,076






 








Goodwill






 






131,815






 






 






131,815






 








Operating lease right-of-use assets






 






6,380






 






 






7,801






 








Deferred tax asset






 






314






 






 






367






 








Prepaid expenses and other assets, less current portion






 






4,261






 






 






3,015






 








Total assets






$






667,885






 






$






576,247






 








Liabilities and Stockholders’ Equity






 






 






 






 








Current liabilities






 






 






 






 








Accounts payable






$






63,972






 






$






49,871






 








Accrued and other liabilities






 






27,671






 






 






26,462






 








Current portion of operating lease liabilities






 






2,294






 






 






2,090






 








Contract liabilities






 






3,496






 






 






2,937






 








Income tax payable






 






1,416






 






 






190






 








Total current liabilities






 






98,849






 






 






81,550






 








Operating lease liabilities, less current portion






 






4,560






 






 






6,318






 








Contract liabilities, less current portion






 






3,404






 






 






2,783






 








Accrued and other liabilities, less current portion






 






683






 






 






—






 








Total liabilities






 






107,496






 






 






90,651






 








Stockholders’ equity






 






 






 






 








Class A common stock, $0.0001 par value per share, 883,950,000 shares authorized as of December 31, 2025 and December 31, 2024; 62,459,587 and 32,136,989 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively






 






6






 






 






3






 








Class B common stock, $0.0001 par value per share, 111,050,000 shares authorized as of December 31, 2025 and December 31, 2024; 63,121,661 and 92,699,294 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively






 






6






 






 






9






 








Additional paid-in capital






 






397,954






 






 






389,904






 








Accumulated other comprehensive loss






 






(427






)






 






(233






)








Retained earnings






 






162,850






 






 






95,913






 








Total stockholders’ equity






 






560,389






 






 






485,596






 








Total liabilities and stockholders' equity






$






667,885






 






$






576,247






 









PAYMENTUS HOLDINGS, INC.




CONSOLIDATED STATEMENTS OF CASH FLOWS




(In thousands)








 






 






 






 






 








 






Three Months Ended

December 31,






 






Year Ended

December 31,






 








 






2025






 






2024






 






2025






 






2024






 








Cash flows from operating activities






 






 






 






 






 






 






 






 








Net income






$






20,673






 






$






13,149






 






$






66,937






 






$






44,169






 








Adjustments to reconcile net income to net cash provided by operating activities






 






 






 






 






 






 






 






 








Depreciation and amortization






 






9,567






 






 






9,657






 






 






41,058






 






 






36,484






 








Deferred income taxes






 






(2,993






)






 






(15






)






 






50






 






 






(1,348






)








Stock-based compensation






 






5,698






 






 






3,000






 






 






18,627






 






 






10,990






 








Amortization of capitalized warrants cost






 






571






 






 






572






 






 






2,267






 






 






2,006






 








Non-cash lease expense






 






596






 






 






583






 






 






2,354






 






 






2,389






 








Amortization of capitalized contract acquisition cost






 






726






 






 






356






 






 






2,110






 






 






1,751






 








Provision for expected credit losses






 






215






 






 






(48






)






 






268






 






 






66






 








Other non-cash adjustments






 






—






 






 






—






 






 






—






 






 






(213






)








Change in operating assets and liabilities






 






 






 






 






 






 






 






 








Accounts and other receivables






 






2,334






 






 






(8,701






)






 






17,141






 






 






(43,618






)








Prepaid expenses and other assets






 






1,093






 






 






1,162






 






 






(6,420






)






 






(3,417






)








Accounts payable






 






46






 






 






(524






)






 






13,980






 






 






13,825






 








Accrued and other liabilities






 






1,802






 






 






7,356






 






 






1,689






 






 






7,159






 








Operating lease liabilities






 






(633






)






 






(597






)






 






(2,494






)






 






(2,253






)








Contract liabilities






 






457






 






 






786






 






 






1,178






 






 






(1,097






)








Income taxes receivable, net of payable






 






4,979






 






 






1,177






 






 






3,382






 






 






(3,259






)








Net cash provided by operating activities






 






45,131






 






 






27,913






 






 






162,127






 






 






63,634






 








Cash flows from investing activities






 






 






 






 






 






 






 






 








Purchases of property and equipment






 






(82






)






 






(81






)






 






(361






)






 






(457






)








Purchases of interest-bearing deposits






 






(889






)






 






(1,122






)






 






(2,522






)






 






(3,691






)








Proceeds from matured interest-bearing deposits






 






1,555






 






 






940






 






 






3,102






 






 






3,506






 








Capitalized internal-use software development costs






 






(9,323






)






 






(8,881






)






 






(36,737






)






 






(36,119






)








Net cash used in investing activities






 






(8,739






)






 






(9,144






)






 






(36,518






)






 






(36,761






)








Cash flows from financing activities






 






 






 






 






 






 






 






 








Proceeds from exercise of stock-based awards






 






65






 






 






182






 






 






162






 






 






338






 








Payments of taxes withheld on net settled vesting of restricted stock units






 






(3,564






)






 






—






 






 






(10,739






)






 






—






 








Settlement of holdback liability related to prior acquisitions






 






—






 






 






—






 






 






—






 






 






(545






)








Net cash used in financing activities






 






(3,499






)






 






182






 






 






(10,577






)






 






(207






)








Effect of exchange rate changes on Cash and cash equivalents and Restricted cash






 






171






 






 






(325






)






 






95






 






 






(450






)








Net increase in cash, cash equivalents and Restricted cash






 






33,064






 






 






18,626






 






 






115,127






 






 






26,216






 








Cash and cash equivalents and Restricted cash at the beginning of period






 






291,474






 






 






190,785






 






 






209,411






 






 






183,195






 








Cash and cash equivalents and Restricted cash at the end of period






$






324,538






 






$






209,411






 






$






324,538






 






$






209,411






 








Reconciliation of Cash and cash equivalents and Restricted Cash:






 






 






 






 






 






 






 






 








Cash and cash equivalents at the beginning of period






 






287,908






 






 






187,542






 






 






205,900






 






 






179,361






 








Restricted cash at the beginning of period






 






3,566






 






 






3,243






 






 






3,511






 






 






3,834






 








Cash and cash equivalents and Restricted cash at the beginning of period






$






291,474






 






$






190,785






 






$






209,411






 






$






183,195






 








Cash and cash equivalents at the end of period






 






320,908






 






 






205,900






 






 






320,908






 






 






205,900






 








Restricted cash at the end of period






 






3,630






 






 






3,511






 






 






3,630






 






 






3,511






 








Cash and cash equivalents and Restricted cash at the end of period






$






324,538






 






$






209,411






 






$






324,538






 






$






209,411






 









PAYMENTUS HOLDINGS, INC.




GAAP to Non-GAAP Reconciliations (Unaudited)




(in thousands, except percentages and per share data)











 



The following tables set forth our non-GAAP financial measures with reconciliations to the most directly comparable GAAP financial measures.











 



Adjusted Gross Profit








 






Three Months Ended

December 31,






 






Year Ended

December 31,






 








 






2025






 






2024






 






2025






 






2024






 








 






(in thousands)






 








Gross profit






$






83,992






 






$






66,029






 






$






296,342






 






$






238,170






 








Stock-based compensation






 






75






 






 






67






 






 






287






 






 






251






 








Amortization of capitalized software development costs






 






5,723






 






 






4,889






 






 






22,520






 






 






17,911






 








Amortization of acquisition-related intangibles






 






—






 






 






828






 






 






2,209






 






 






3,313






 








Adjusted gross profit






$






89,790






 






$






71,813






 






$






321,358






 






$






259,645






 









Contribution Profit








 






Three Months Ended

December 31,






 






Year Ended

December 31,






 








 






2025






 






2024






 






2025






 






2024






 








 






(in thousands)






 








Gross profit






$






83,992






 






$






66,029






 






$






296,342






 






$






238,170






 








Plus: other cost of revenue






 






22,881






 






 






20,187






 






 






89,967






 






 






73,898






 








Contribution profit






$






106,873






 






$






86,216






 






$






386,309






 






$






312,068






 









Adjusted EBITDA and Adjusted EBITDA Margin








 






Three Months Ended

December 31,






 







Year Ended

December 31,






 








 






2025






 







2024






 







2025






 







2024






 








 






(in thousands)






 








Net income — GAAP






$






20,673






 







$






13,149






 







$






66,937






 







$






44,169






 








Interest income






 






(2,530






)







 






(2,020






)







 






(9,506






)







 






(8,742






)








Other income(1)






 






—






 







 






—






 







 






—






 







 






(213






)








Provision for income taxes






 






5,830






 







 






3,131






 







 






18,338






 







 






9,775






 








Amortization of capitalized software development costs






 






8,354






 







 






7,439






 







 






33,304






 







 






27,586






 








Amortization of acquisition-related intangibles






 






1,051






 







 






2,020






 







 






7,088






 







 






8,081






 








Depreciation






 






162






 







 






198






 







 






666






 







 






817






 








EBITDA






$






33,540






 







$






23,917






 







$






116,827






 







$






81,473






 








 






 






 







 






 







 






 







 






 








Adjustments






 






 







 






 







 






 







 






 








Foreign exchange gain






 






95






 







 






(70






)







 






(229






)







 






(132






)








Stock-based compensation






 






6,265






 







 






3,431






 







 






20,821






 







 






12,855






 








Adjusted EBITDA






$






39,900






 







$






27,278






 







$






137,419






 







$






94,196






 








Adjusted EBITDA margin






 






37.3






%







 






31.6






%







 






35.6






%







 






30.2






%







(1) Other income for year ended December 31, 2024 includes a remeasurement adjustment relating to the purchase price of a prior acquisition.




PAYMENTUS HOLDINGS, INC.




GAAP to Non-GAAP Reconciliations (Unaudited)




(in thousands, except percentages and per share data)








 






 






 






 






 






 








Non-GAAP Operating Expense






 






 






 






 






 








 






Three Months Ended

December 31,






 






 






Year Ended

December 31,






 








 






2025






 






 






2024






 






 






2025






 






 






2024






 








 






(in thousands)






 








Operating expenses — GAAP






$






59,924






 







$






51,839






 







$






220,802






 







$






193,313






 








Stock-based compensation






 






(6,190






)







 






(3,364






)







 






(20,534






)







 






(12,604






)








Amortization of acquisition-related intangibles






 






(1,051






)







 






(1,192






)







 






(4,879






)







 






(4,768






)








Non-GAAP operating expense






$






52,683






 







$






47,283






 







$






195,389






 







$






175,941






 









Non-GAAP Net Income & Non-GAAP EPS(1)








 






Three Months Ended

December 31,






 






Year Ended

December 31,






 








 






2025






 






2024






 






2025






 






2024






 








 






(in thousands)






 








Net income — GAAP






$






20,673






 






$






13,149






 






$






66,937






 






$






44,169






 








Add: Provision for income taxes — GAAP






 






5,830






 






 






3,131






 






 






18,338






 






 






9,775






 








Income before taxes — GAAP






 






26,503






 






 






16,280






 






 






85,275






 






 






53,944






 








Add:






 






 






 






 






 






 






 






 








Stock-based compensation






 






6,265






 






 






3,431






 






 






20,821






 






 






12,855






 








Amortization of acquisition-related intangibles






 






1,051






 






 






2,020






 






 






7,088






 






 






8,081






 








Income before taxes — non-GAAP






 






33,819






 






 






21,731






 






 






113,184






 






 






74,880






 








Provision for income taxes — non-GAAP






 






8,455






 






 






5,433






 






 






28,296






 






 






18,720






 








Net income — non-GAAP






$






25,364






 






$






16,298






 






$






84,888






 






$






56,160






 








 






 






 






 






 






 






 






 






 








Weighted-average shares of common stock — diluted






 






129,308,186






 






 






128,714,996






 






 






129,113,684






 






 






127,714,622






 








 






 






 






 






 






 






 






 






 








Earnings per share — diluted (GAAP)






$






0.16






 






$






0.10






 






$






0.52






 






$






0.35






 








Earnings per share — diluted (non-GAAP)






$






0.20






 






$






0.13






 






$






0.66






 






$






0.44






 








(1) Non-GAAP financial information for the periods shown reflects an assumed provision for income taxes based on our long-term projected tax rate of 25%. Due to the differences in the tax treatment of items excluded from non-GAAP earnings, our long-term projected tax rate on non-GAAP net income may differ from our GAAP tax rate and from our actual tax liabilities.









Free Cash Flow








 






Three Months Ended

December 31,






 






 






Year Ended

December 31,






 








 






2025






 






 






2024






 






 






2025






 






 






2024






 








 






(in thousands)






 








Net cash provided by operating activities






$






45,131






 







$






27,913






 







$






162,127






 







$






63,634






 








Purchases of property and equipment






 






(82






)







 






(81






)







 






(361






)







 






(457






)








Capitalized internal-use software development costs






 






(9,323






)







 






(8,881






)







 






(36,737






)







 






(36,119






)








Free cash flow






$






35,726






 







$






18,951






 







$






125,029






 







$






27,058






 







CATEGORY: EARNINGS

View source version on businesswire.com: https://www.businesswire.com/news/home/20260223752606/en/
At the Company

Sanjay Kalra

Chief Financial Officer

Paymentus Holdings, Inc.

ir@paymentus.com


Investor Relations

David Hanover

paymentus@kcsa.com


Media Relations

Tony Labriola

media-relations@paymentus.com


Original: Paymentus Reports Fourth Quarter and Full Year 2025 Financial Results