Paya Holdings Inc., a leading provider of integrated payment and commerce solutions, today reported financial results for its second quarter ended June 30, 2021.

“Paya’s solid second quarter results continue to build upon the momentum we’ve seen this year across the business,” said Jeff Hack, CEO of Paya. “Strong card volume growth and continued outperformance from our proprietary ACH solution, coupled with the strength we’re seeing in our B2B and Government verticals reinforces our confidence for the remainder of the year. Furthermore, recent partner wins, a strong pipeline of actionable organic and inorganic opportunities and an even stronger balance sheet, position us well to deliver against our growth initiatives over the medium term,” Hack concluded.

Second Quarter 2021 Financial Highlights

• Payment volume was $10.7 billion, an increase of 36.8% from $7.8 billion for the second quarter of 2020.
• Total revenue was $63.9 million, an increase of 25.2% from $51.1 million for the second quarter of 2020.
  • Integrated Solutions segment revenue was $39.6 million, an increase of 31.3% from $30.1 million for the second quarter of 2020.
  • Payment Services segment revenue was $24.4 million, an increase of 16.5% from $21.0 million for the second quarter of 2020.
• Gross profit was $33.8 million, resulting in a gross profit margin of 52.8%, as compared to $26.2 million with a gross profit margin of 51.2% for the second quarter of 2020.
• Net income was $(3.1) million, compared to $0.6 million for the second quarter of 2020.
• Adjusted EBITDA was $16.8 million, an increase of 18.3% from $14.2 million for the second quarter of 2020.
• Adjusted Net Income was $13.7 million.
• Earnings per share was $(0.02).
• Adjusted earnings per share was $0.11.
• Ended June 30, 2021 with $135.6 million of cash and $250.0 million of total debt.

These financial highlights include non-GAAP measures. See below for definitions and reconciliation.

2021 Outlook

Paya provides the following updated revenue, gross margin, and Adjusted EBITDA guidance for the full year 2021, which replaces previously issued guidance. This outlook assumes no further unanticipated impacts from the COVID-19 pandemic or other factors outside of Paya’s control.

Conference Call

The Company has scheduled a conference call for August 6, 2021 at 8:00 a.m. Eastern Time to discuss the second quarter 2021 results.

The conference call will be available by live webcast through Paya’s Investor Relations website at https://investors.paya.com or by dialing in as follows:

Please register for the webcast or dial into the conference call approximately 15 minutes prior to the scheduled start time.

A replay of the conference call will be available for approximately 14 days and can be accessed through the Investors section of Paya’s website or by dialing 1-855-859-2056 (for Domestic callers), or 1-404-537-3406 (for International callers), with passcode 7296603.