$PAY

Paymentus Holdings, Inc.

CIK:0001841156|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 360,736	$ 280,077	$ 719,177	$ 555,312
Cost of revenue	266,425	208,600	538,634	417,811
Gross profit	94,311	71,477	180,543	137,501
Operating expenses
Research and development	15,317	15,231	31,650	30,332
Sales and marketing	33,047	29,610	63,257	55,661
General and administrative	13,326	10,714	26,463	19,897
Total operating expenses	61,690	55,555	121,370	105,890
Income from operations	32,621	15,922	59,173	31,611
Other income (expense)
Interest income, net	3,042	2,336	5,573	4,398
Other (expense) income	(5)	111	3	161
Income before income taxes	35,658	18,369	64,749	36,170
Provision for income taxes	10,099	3,662	18,309	7,650
Net income	$ 25,559	$ 14,707	$ 46,440	$ 28,520
Net income per share
Basic	$ 0.2	$ 0.12	$ 0.37	$ 0.23
Diluted	$ 0.2	$ 0.11	$ 0.36	$ 0.22
Weighted-average number of shares used to compute net income per share
Basic	125,861,225	125,077,964	125,763,761	125,066,334
Diluted	129,005,011	129,030,539	129,049,030	128,967,807
Net Income (Loss)	$ 25,559	$ 14,707	$ 46,440	$ 28,520
Foreign currency translation adjustments, net of tax	8	63	(180)	9
Comprehensive income	$ 25,567	$ 14,770	$ 46,260	$ 28,529

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net income	$ 46,440	$ 28,520
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	19,319	21,223
Deferred income taxes	(1,064)	(1,991)
Stock-based compensation	12,160	7,770
Amortization of capitalized warrants cost	574	1,124
Non-cash operating lease expense	1,498	1,158
Amortization of capitalized contract acquisition cost	1,515	873
Provision for expected credit losses	58	(171)
Change in operating assets and liabilities
Accounts and other receivables	(3,407)	23,429
Prepaid expenses and other assets	2,468	986
Accounts payable	6,610	2,516
Accrued and other liabilities	(4,760)	(2,421)
Operating lease liabilities	(1,467)	(1,225)
Contract liabilities	339	716
Income taxes receivable, net of payable	(971)	(587)
Net cash provided by operating activities	79,312	81,920
Cash flows from investing activities
Purchases of property and equipment	(193)	(176)
Purchases of interest-bearing deposits	(754)	(913)
Proceeds from matured interest-bearing deposits	1,604	1,547
Capitalized internal-use software development costs	(19,176)	(18,166)
Net cash used in investing activities	(18,519)	(17,708)
Cash flows from financing activities
Proceeds from exercise of stock-based awards	15	91
Payments of taxes withheld on net settled vesting of restricted stock units	(5,403)	(3,764)
Net cash used in financing activities	(5,388)	(3,673)
Effect of exchange rate changes on Cash and cash equivalents and Restricted cash	(240)	95
Net increase in Cash and cash equivalents and Restricted cash	55,165	60,634
Cash, cash equivalents and restricted cash
Cash and cash equivalents and Restricted cash at beginning of period	324,538	209,411
Cash and cash equivalents and Restricted cash at end of period	379,703	270,045
Supplemental disclosure of cash flow information:
Cash paid for income taxes, net of refunds	20,297	10,256
Non-cash investing activities:
Property and equipment acquired through finance lease liabilities	1,602	0
Right-of-use assets obtained in exchange of operating lease obligations	3,439	510
Cash and Cash Equivalents [Member]
Cash, cash equivalents and restricted cash
Cash and cash equivalents and Restricted cash at beginning of period	320,908	205,900
Cash and cash equivalents and Restricted cash at end of period	377,694	266,422
Restricted Cash [Member]
Cash, cash equivalents and restricted cash
Cash and cash equivalents and Restricted cash at beginning of period	3,630	3,511
Cash and cash equivalents and Restricted cash at end of period	$ 2,009	$ 3,623

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 377,694	$ 320,908
Restricted cash and cash equivalents	2,009	3,630
Accounts and other receivables, net of allowance for expected credit losses of $479 and $452, respectively	105,584	102,338
Income tax receivable	1,132	1,207
Prepaid expenses and other assets	8,046	13,248
Total current assets	494,465	441,331
Property and equipment, net	2,319	877
Capitalized internal-use software development costs, net	72,826	70,920
Intangible assets, net	10,353	11,987
Goodwill	131,783	131,815
Operating lease right-of-use assets	8,282	6,380
Deferred tax asset	1,377	314
Prepaid expenses and other assets, less current portion	3,969	4,261
Total assets	725,374	667,885
Current liabilities
Accounts payable	70,595	63,972
Accrued and other liabilities	23,269	27,671
Current portion of operating lease liabilities	2,826	2,294
Contract liabilities	4,139	3,496
Income tax payable	366	1,416
Total current liabilities	101,195	98,849
Operating lease liabilities, less current portion	6,006	4,560
Contract liabilities, less current portion	3,100	3,404
Accrued and other liabilities, less current portion	1,652	683
Total liabilities	111,953	107,496
Stockholders’ equity
Additional paid-in capital	404,726	397,954
Accumulated other comprehensive loss	(607)	(427)
Retained earnings	209,290	162,850
Total stockholders’ equity	613,421	560,389
Total liabilities and stockholders' equity	725,374	667,885
Class A Common Stock [Member]
Stockholders’ equity
common stock	6	6
Class B Common Stock [Member]
Stockholders’ equity
common stock	$ 6	$ 6