Repay Holdings Corporation (NASDAQ:RPAY) Q4 2023 Earnings Conference Call February 29, 2024 5:00 PM ET
Company Participants
Stewart Grisante - Head of IR
John Morris - CEO, Co-Founder and Director
Tim Murphy - CFO
Conference Call Participants
Ryan Campbell - Barclays
Peter Heckmann - DA Davidson
Andrew Schmidt - Citi
Steven Kwok - KBW
Joseph Vafi - Canaccord Genuity
James Faucette - Morgan Stanley
Timothy Chiodo - UBS
Mike Grondahl - Northland Securities
Operator
Good afternoon. I'd like to welcome everyone to REPAY's Fourth Quarter 2023 Earnings Conference Call. This call is being recorded today, February 29, 2024.
I'd like to turn the session over to Stewart Grisante, Head of Investor Relations at REPAY. Stewart, you may proceed.
Stewart Grisante
Good afternoon, and welcome to our fourth quarter 2023 earnings conference call. With us today are John Morris, Co-Founder and Chief Executive Officer; and Tim Murphy, Chief Financial Officer.
During this call, we will be making forward-looking statements about our beliefs and estimates regarding future events and results. Those forward-looking statements are subject to risks and uncertainties, including those set forth in the SEC filings related to today's results and in our most recent Form 10-K. Actual results may differ materially from any forward-looking statements that we make today. Forward-looking statements speak only as of today, and we do not assume any obligation or intend to update them, except as required by law.
In an effort to provide additional information to investors, today's discussion will also include references to certain non-GAAP financial measures. Reconciliations and other explanations of those non-GAAP financial measures can be found in today's press release and in the earnings supplement, each of which are available on the company's IR site.
With that, I would now like to turn the call over to John.
John Morris
Thanks, Stewart. Good afternoon, everyone. Thank you for joining us. I wanted to cover three main topics today. First, a review of the fourth quarter. Second, a recap of our accomplishments in 2023. And lastly, go over our strategic initiatives that will drive growth in 2024 and beyond.
First on Q4. On a normalized organic basis, we reported revenue growth of 14% and gross profit growth of 13%. With both metrics performing ahead of our expectations. We closed out the year seeing the continued demand from existing clients adopting more payment capabilities and new clients demonstrating the need for our powerful technology. REPAY has become a leading expert within the consumer payments and business payment verticals we serve. We have become a one stop platform to optimize payment streams, and are constantly working to capture new payment flows on enhancing client relationships with many value added services.