Paymentus Holdings, Inc.
PAY NYSE Services-Business Services, Nec Financials FY2019–FY2025
Revenue
Total sales reported in the income statement.
$1.2B
37.3%
vs prior year
Operating margin
Operating income as a share of revenue.
6.3%
1.2 pts
Net income
Profit after all expenses, interest and tax.
$66.9M
51.5%
Free cash flow
Cash from operations minus capital spending.
$162M
156.1%
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap
Last close times the latest diluted share count, so it is approximate.
—
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On $0.66 EPS (TTM)
What Paymentus Holdings, Inc. does
No business description yet.
- Legal name
- Paymentus Holdings, Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 24, 2026
- Accession · CIK
- 0001193125-26-064510
0001841156
Revenue and margins
Paymentus Holdings, Inc. had $1.2B of revenue in fiscal 2025, up 37.3% on the year before.
FY19
Revenue $236M
FY20
Revenue $302M
FY21
Revenue $396M
FY22
Revenue $497M
FY23
Revenue $614M
FY24
Revenue $872M
FY25
Revenue $1.2B
Q3 '23
Revenue $152M
Q4 '23
Revenue $165M
Q1 '24
Revenue $185M
Q2 '24
Revenue $197M
Q3 '24
Revenue $232M
Q4 '24
Revenue $258M
Q1 '25
Revenue $275M
Q2 '25
Revenue $280M
Q3 '25
Revenue $311M
Q4 '25
Revenue $330M
Q1 '26
Revenue $358M
Q2 '26
Revenue $361M
FY19
Gross 31.6%
Operating 7.8%
Net 5.8%
FCF 7.0%
FY20
Gross 30.7%
Operating 6.1%
Net 4.5%
FCF 11.7%
FY21
Gross 30.7%
Operating 2.6%
Net 2.4%
FCF 4.7%
FY22
Gross 30.1%
Operating −0.6%
Net −0.1%
FCF 3.7%
FY23
Gross 29.7%
Operating 2.9%
Net 3.6%
FCF 11.1%
FY24
Gross 27.3%
Operating 5.1%
Net 5.1%
FCF 7.2%
FY25
Gross 24.8%
Operating 6.3%
Net 5.6%
FCF 13.5%
Gross
Operating
Net
FCF
Q3 '23
Gross 30.8%
Operating 3.5%
Net 4.2%
FCF 8.5%
Q4 '23
Gross 30.0%
Operating 5.5%
Net 5.7%
FCF 14.8%
Q1 '24
Gross 28.5%
Operating 4.5%
Net 3.9%
FCF 5.9%
Q2 '24
Gross 29.8%
Operating 5.2%
Net 4.7%
FCF 9.0%
Q3 '24
Gross 26.2%
Operating 5.2%
Net 6.2%
FCF 2.9%
Q4 '24
Gross 25.6%
Operating 5.5%
Net 5.1%
FCF 10.8%
Q1 '25
Gross 24.0%
Operating 5.7%
Net 5.0%
FCF 18.3%
Q2 '25
Gross 25.5%
Operating 5.7%
Net 5.3%
FCF 11.2%
Q3 '25
Gross 24.1%
Operating 6.4%
Net 5.7%
FCF 11.3%
Q4 '25
Gross 25.4%
Operating 7.3%
Net 6.3%
FCF 13.6%
Q1 '26
Gross 24.1%
Operating 7.4%
Net 5.8%
FCF 8.5%
Q2 '26
Gross 26.1%
Operating 9.0%
Net 7.1%
FCF 13.5%
Gross
Operating
Net
FCF
Net income and earnings per share
From fiscal 2019 to 2025, diluted EPS grew 36.6% a year. Loss periods are shown in red.
FY19
Net income $13.7M
FY20
Net income $13.7M
FY21
Net income $9.3M
FY22
Net income −$0.5M
FY23
Net income $22.3M
FY24
Net income $44.2M
FY25
Net income $66.9M
Q3 '23
Net income $6.4M
Q4 '23
Net income $9.4M
Q1 '24
Net income $7.2M
Q2 '24
Net income $9.4M
Q3 '24
Net income $14.4M
Q4 '24
Net income $13.1M
Q1 '25
Net income $13.8M
Q2 '25
Net income $14.7M
Q3 '25
Net income $17.7M
Q4 '25
Net income $20.7M
Q1 '26
Net income $20.9M
Q2 '26
Net income $25.6M
FY19
Diluted EPS $0.08
FY20
Diluted EPS $0.08
FY21
Diluted EPS $0.06
FY22
Diluted EPS $0.00
FY23
Diluted EPS $0.18
FY24
Diluted EPS $0.35
FY25
Diluted EPS $0.52
Q3 '23
Diluted EPS $0.05
Q4 '23
Diluted EPS $0.07
Q1 '24
Diluted EPS $0.06
Q2 '24
Diluted EPS $0.07
Q3 '24
Diluted EPS $0.11
Q4 '24
Diluted EPS $0.11
Q1 '25
Diluted EPS $0.11
Q2 '25
Diluted EPS $0.11
Q3 '25
Diluted EPS $0.14
Q4 '25
Diluted EPS $0.16
Q1 '26
Diluted EPS $0.16
Q2 '26
Diluted EPS $0.20
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY19
Return on capital —
Return on equity 20.0%
Return on assets —
FY20
Return on capital —
Return on equity 17.9%
Return on assets 11.0%
FY21
Return on capital —
Return on equity 4.0%
Return on assets 3.1%
FY22
Return on capital —
Return on equity −0.1%
Return on assets −0.1%
FY23
Return on capital —
Return on equity 5.4%
Return on assets 4.6%
FY24
Return on capital —
Return on equity 9.7%
Return on assets 8.2%
FY25
Return on capital —
Return on equity 12.8%
Return on assets 10.8%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was $162M in fiscal 2025, 13.5% of revenue. Cash from operations minus capital spending.
FY19
Free cash flow $16.5M
FY20
Free cash flow $35.2M
FY21
Free cash flow $18.5M
FY22
Free cash flow $18.6M
FY23
Free cash flow $68.2M
FY24
Free cash flow $63.2M
FY25
Free cash flow $162M
Q3 '23
Free cash flow $13.0M
Q4 '23
Free cash flow $24.4M
Q1 '24
Free cash flow $10.8M
Q2 '24
Free cash flow $17.8M
Q3 '24
Free cash flow $6.7M
Q4 '24
Free cash flow $27.8M
Q1 '25
Free cash flow $50.4M
Q2 '25
Free cash flow $31.4M
Q3 '25
Free cash flow $35.0M
Q4 '25
Free cash flow $45.0M
Q1 '26
Free cash flow $30.4M
Q2 '26
Free cash flow $48.7M
FY19
Cash from operations $17.5M
Capital spending $1.0M
FY20
Cash from operations $35.6M
Capital spending $0.5M
FY21
Cash from operations $19.5M
Capital spending $1.0M
FY22
Cash from operations $19.9M
Capital spending $1.3M
FY23
Cash from operations $68.8M
Capital spending $0.6M
FY24
Cash from operations $63.6M
Capital spending $0.5M
FY25
Cash from operations $162M
Capital spending $0.4M
Cash from operations
Capital spending
Q3 '23
Cash from operations $13.1M
Capital spending $0.2M
Q4 '23
Cash from operations $24.4M
Capital spending $0.1M
Q1 '24
Cash from operations $11.0M
Capital spending $0.1M
Q2 '24
Cash from operations $18.0M
Capital spending $0.2M
Q3 '24
Cash from operations $6.7M
Capital spending $0.1M
Q4 '24
Cash from operations $27.9M
Capital spending $0.1M
Q1 '25
Cash from operations $50.4M
Capital spending $0.1M
Q2 '25
Cash from operations $31.5M
Capital spending $0.1M
Q3 '25
Cash from operations $35.1M
Capital spending $0.1M
Q4 '25
Cash from operations $45.1M
Capital spending $0.1M
Q1 '26
Cash from operations $30.5M
Capital spending $0.1M
Q2 '26
Cash from operations $48.9M
Capital spending $0.1M
Cash from operations
Capital spending
Dividends, buybacks and share count
Paymentus Holdings, Inc. returned — to shareholders in fiscal 2025. The diluted share count rose 1.1%.
FY19
Dividends —
Buybacks —
FY20
Dividends —
Buybacks —
FY21
Dividends —
Buybacks —
FY22
Dividends —
Buybacks —
FY23
Dividends —
Buybacks —
FY24
Dividends —
Buybacks —
FY25
Dividends —
Buybacks —
Dividends
Buybacks
FY19
Diluted shares 0.11B
FY20
Diluted shares 0.11B
FY21
Diluted shares 0.12B
FY22
Diluted shares 0.12B
FY23
Diluted shares 0.13B
FY24
Diluted shares 0.13B
FY25
Diluted shares 0.13B
Balance sheet
Cash, debt and the ratios that show how comfortably Paymentus Holdings, Inc. can carry it.
FY19
Cash $27.4M
Debt —
FY20
Cash $46.7M
Debt —
FY21
Cash $168M
Debt —
FY22
Cash $147M
Debt —
FY23
Cash $179M
Debt —
FY24
Cash $206M
Debt —
FY25
Cash $321M
Debt —
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $168M | $147M | $179M | $206M | $321M |
| Current ratio | 3.4x | 4.4x | 4.3x | 4.2x | 4.5x |
| Quick ratio | 3.4x | 4.4x | 4.3x | 4.2x | 4.5x |
| Total assets | $473M | $462M | $505M | $576M | $668M |
| Total liabilities | $86.8M | $64.4M | $75.2M | $90.7M | $107M |
| Shareholders' equity | $386M | $397M | $430M | $486M | $560M |
| Net debt (− = net cash) | — | — | — | — | — |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ | ✕ | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Return on assets rose | — | — | ✕ | ✕ | ✓ | ✓ | ✓ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Debt fell relative to assets | — | — | — | — | — | — | — |
| Current ratio rose | — | — | ✓ | ✓ | ✕ | ✕ | ✓ |
| Share count didn't rise | — | ✓ | ✕ | ✕ | ✕ | ✕ | ✕ |
| Gross margin rose | — | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ |
| Revenue rose relative to assets | — | — | ✕ | ✓ | ✓ | ✓ | ✓ |
| F-score | — / 3 | — / 5 | 4 / 8 | 4 / 8 | 5 / 8 | 5 / 8 | 6 / 8 |
| Accruals ratio | — | −17.5% | −3.4% | −4.4% | −9.6% | −3.6% | −15.3% |
| Altman Z'' | — | 7.18 | 7.55 | 9.17 | 9.27 | 9.70 | 10.39 |
7 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | $236M | $302M | $396M | $497M | $614M | $872M | $1.2B |
| Provision for credit losses | — | $0.1M | $0.1M | $0.3M | $0.3M | — | — |
| Gross profit | $74.4M | $92.6M | $121M | $150M | $182M | $238M | $296M |
| Research and development | $17.9M | $24.5M | $34.1M | $41.2M | $44.2M | $51.3M | $61.5M |
| Operating income | $18.4M | $18.4M | $10.4M | −$3.0M | $18.1M | $44.9M | $75.5M |
| Pretax income | $18.5M | $18.4M | $10.4M | −$1.3M | $25.1M | $53.9M | $85.3M |
| Income tax | $4.8M | $4.7M | $1.1M | −$0.8M | $2.8M | $9.8M | $18.3M |
| Net income | $13.7M | $13.7M | $9.3M | −$0.5M | $22.3M | $44.2M | $66.9M |
| Net income to common | $9.0M | $8.5M | $7.0M | −$0.5M | $22.3M | — | — |
| Diluted EPS | $0.08 | $0.08 | $0.06 | $0.00 | $0.18 | $0.35 | $0.52 |
| Diluted shares | 0.11B | 0.11B | 0.12B | 0.12B | 0.13B | 0.13B | 0.13B |
| Cash flow | |||||||
| Cash from operations | $17.5M | $35.6M | $19.5M | $19.9M | $68.8M | $63.6M | $162M |
| Capital expenditure | $1.0M | $0.5M | $1.0M | $1.3M | $0.6M | $0.5M | $0.4M |
| Free cash flow | $16.5M | $35.2M | $18.5M | $18.6M | $68.2M | $63.2M | $162M |
| Depreciation and amortization | $6.0M | $8.1M | $13.3M | $24.1M | $30.6M | $36.5M | $41.1M |
| Stock-based compensation | $1.6M | $2.0M | $3.1M | $6.7M | $9.4M | $11.0M | $18.6M |
| Acquisitions | $1.4M | −$0.3M | $57.4M | $3.3M | $0.0M | $0.0M | — |
| Balance sheet | |||||||
| Cash and short-term investments | $27.4M | $46.7M | $168M | $147M | $179M | $206M | $321M |
| Finance lease liabilities | — | — | $0.4M | $0.1M | — | — | — |
| Current assets | — | $79.8M | $256M | $229M | $270M | $346M | $441M |
| Current liabilities | — | $31.1M | $74.4M | $51.5M | $62.8M | $81.6M | $98.8M |
| Property and equipment, net | — | $1.8M | $2.0M | $1.8M | $1.6M | $1.2M | $0.9M |
| Goodwill | $13.2M | $13.2M | $129M | $132M | $132M | $132M | $132M |
| Intangible assets | — | $0.3M | $42.1M | $36.0M | $27.2M | $19.1M | $12.0M |
| Total assets | — | $125M | $473M | $462M | $505M | $576M | $668M |
| Total liabilities | — | $40.5M | $86.8M | $64.4M | $75.2M | $90.7M | $107M |
| Preferred stock | — | $0.0M | $0.0M | $0.0M | $0.0M | — | — |
| Shareholders' equity | $68.6M | $84.4M | $386M | $397M | $430M | $486M | $560M |
| Margins | |||||||
| Gross margin | 31.6% | 30.7% | 30.7% | 30.1% | 29.7% | 27.3% | 24.8% |
| Operating margin | 7.8% | 6.1% | 2.6% | −0.6% | 2.9% | 5.1% | 6.3% |
| EBITDA margin | 10.3% | 8.8% | 6.0% | 4.2% | 7.9% | 9.3% | 9.7% |
| Net margin | 5.8% | 4.5% | 2.4% | −0.1% | 3.6% | 5.1% | 5.6% |
| FCF margin | 7.0% | 11.7% | 4.7% | 3.7% | 11.1% | 7.2% | 13.5% |
| Returns | |||||||
| Return on capital employed | — | 19.7% | 2.6% | −0.7% | 4.1% | 9.1% | 13.3% |
| Return on equity | 20.0% | 17.9% | 4.0% | −0.1% | 5.4% | 9.7% | 12.8% |
| Return on assets | — | 11.0% | 3.1% | −0.1% | 4.6% | 8.2% | 10.8% |
| Return on tangible equity | 16.3% | 12.0% | 3.3% | −0.2% | 8.2% | 13.2% | 16.1% |
| Growth | |||||||
| Revenue growth | — | 28.0% | 31.1% | 25.7% | 23.6% | 41.9% | 37.3% |
| Net income growth | — | 0.1% | −32.2% | −105.5% | — | 97.9% | 51.5% |
| EPS growth | — | 0.0% | −25.0% | −100.0% | — | 94.4% | 48.6% |
| FCF growth | — | 113.5% | −47.3% | 0.5% | 266.6% | −7.4% | 156.1% |
| Share count change | — | −0.1% | 11.9% | 2.8% | 2.4% | 2.1% | 1.1% |
| Financial health | |||||||
| Current ratio | — | 2.6x | 3.4x | 4.4x | 4.3x | 4.2x | 4.5x |
| Quick ratio | — | 2.6x | 3.4x | 4.4x | 4.3x | 4.2x | 4.5x |
| Capital allocation | |||||||
| Capex / revenue | 0.4% | 0.2% | 0.2% | 0.3% | 0.1% | 0.1% | 0.0% |
| Stock comp / revenue | 0.7% | 0.7% | 0.8% | 1.4% | 1.5% | 1.3% | 1.6% |
| Quality scores | |||||||
| Piotroski F-score | — | — | 4.0 | 4.0 | 5.0 | 5.0 | 6.0 |
| Altman Z'' | — | 7.2 | 7.5 | 9.2 | 9.3 | 9.7 | 10.4 |
| Accruals ratio | — | −17.5% | −3.4% | −4.4% | −9.6% | −3.6% | −15.3% |
Source: SEC EDGAR XBRL filings (CIK 0001841156). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.