What is Paymentus' operating income?

Paymentus' total operating income in 2025 was $75.54 million, based on the following breakdown: Total Gross Profit: $296.34 million Total Operating Expenses: $220.80 million

Paymentus (PAY) Financials

$36.15 -0.62 (-1.69%)

As of 03:58 PM Eastern

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Annual Income Statements for Paymentus

This table shows Paymentus' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	9.00	8.53	7.04	-0.51	22	44	67
Consolidated Net Income / (Loss)	14	14	9.30	-0.51	22	44	67
Net Income / (Loss) Continuing Operations	14	14	9.30	-0.51	22	44	67
Total Pre-Tax Income	18	18	10	-1.31	25	54	85
Total Operating Income	18	18	10	-2.98	18	45	76
Total Gross Profit	74	93	121	150	182	238	296
Total Revenue	236	302	396	497	614	872	1,197
Operating Revenue	236	302	396	497	614	872	1,197
Total Cost of Revenue	161	209	274	347	432	634	900
Operating Cost of Revenue	161	209	274	347	432	634	900
Total Operating Expenses	56	74	111	153	164	193	221
Selling, General & Admin Expense	10	18	33	38	36	37	47
Marketing Expense	28	32	44	73	84	105	112
Research & Development Expense	18	25	34	41	44	51	61
Total Other Income / (Expense), net	0.11	-0.06	-0.01	1.67	7.03	9.09	9.74
Interest & Investment Income	0.11	0.05	-0.01	1.66	7.02	8.74	9.51
Other Income / (Expense), net	0.00	-0.12	-0.00	0.01	0.01	0.35	0.23
Income Tax Expense	4.78	4.65	1.07	-0.80	2.80	9.78	18
Basic Earnings per Share	$0.09	$0.08	$0.06	$0.00	$0.18	$0.36	$0.53
Weighted Average Basic Shares Outstanding	103.47M	103.48M	112.76M	122.10M	123.51M	124.37M	125.25M
Diluted Earnings per Share	$0.08	$0.08	$0.06	$0.00	$0.18	$0.35	$0.52
Weighted Average Diluted Shares Outstanding	106.35M	106.21M	118.82M	122.10M	125.07M	127.71M	129.11M
Weighted Average Basic & Diluted Shares Outstanding	-	-	121.02M	123.29M	123.92M	124.97M	125.72M

This table shows Paymentus' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	9.40	7.23	9.36	14	13	14	15	18	21	21	26
Consolidated Net Income / (Loss)	9.40	7.23	9.36	14	13	14	15	18	21	21	26
Net Income / (Loss) Continuing Operations	9.40	7.23	9.36	14	13	14	15	18	21	21	26
Total Pre-Tax Income	11	11	12	14	16	18	18	23	27	29	36
Total Operating Income	9.14	8.34	10	12	14	16	16	20	24	27	33
Total Gross Profit	49	53	59	61	66	66	71	75	84	86	94
Total Revenue	165	185	197	232	258	275	280	311	330	358	361
Operating Revenue	165	185	197	232	258	275	280	311	330	358	361
Total Cost of Revenue	115	132	139	171	192	209	209	236	246	272	266
Operating Cost of Revenue	115	132	139	171	192	209	209	236	246	272	266
Total Operating Expenses	40	44	49	49	52	50	56	55	60	60	62
Selling, General & Admin Expense	9.05	9.09	9.21	8.94	9.68	9.18	11	14	13	13	13
Marketing Expense	21	23	27	26	29	26	30	25	31	30	33
Research & Development Expense	11	12	13	13	14	15	15	15	16	16	15
Total Other Income / (Expense), net	2.06	2.42	2.23	2.35	2.09	2.11	2.45	2.74	2.44	2.54	3.04
Interest & Investment Income	2.02	2.19	2.19	2.34	2.02	2.06	2.34	2.58	2.53	2.53	3.04
Other Income / (Expense), net	0.04	0.23	0.04	0.01	0.07	0.05	0.11	0.16	-0.10	0.01	-0.01
Income Tax Expense	1.80	3.53	3.11	0.01	3.13	3.99	3.66	4.86	5.83	8.21	10
Basic Earnings per Share	$0.07	$0.06	$0.08	$0.12	$0.10	$0.11	$0.12	$0.14	$0.16	$0.17	$0.20
Weighted Average Basic Shares Outstanding	123.51M	123.95M	124.26M	124.54M	124.37M	124.94M	125.08M	125.34M	125.25M	125.67M	125.86M
Diluted Earnings per Share	$0.07	$0.06	$0.07	$0.11	$0.11	$0.11	$0.11	$0.14	$0.16	$0.16	$0.20
Weighted Average Diluted Shares Outstanding	125.07M	126.92M	127.25M	127.61M	127.71M	128.80M	129.03M	129.25M	129.11M	129.31M	129.01M
Weighted Average Basic & Diluted Shares Outstanding	123.92M	124.17M	124.48M	124.63M	124.97M	125.13M	125.26M	125.43M	125.72M	125.79M	125.94M

This table details how cash moves in and out of Paymentus' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	2.79	19	155	-52	34	26	115
Net Cash From Operating Activities	18	36	19	20	69	64	162
Net Cash From Continuing Operating Activities	18	36	19	20	69	64	162
Net Income / (Loss) Continuing Operations	14	14	9.30	-0.51	22	44	67
Consolidated Net Income / (Loss)	14	14	9.30	-0.51	22	44	67
Depreciation Expense	6.00	8.07	13	24	31	36	41
Amortization Expense	0.00	0.00	0.67	2.06	3.00	3.76	4.38
Non-Cash Adjustments To Reconcile Net Income	1.26	4.90	5.74	13	11	13	21
Changes in Operating Assets and Liabilities, net	-3.45	8.94	-9.51	-18	1.64	-34	29
Net Cash From Investing Activities	-14	-15	-78	-35	-34	-37	-37
Net Cash From Continuing Investing Activities	-14	-15	-78	-35	-34	-37	-37
Purchase of Property, Plant & Equipment	-11	-15	-20	-31	-34	-37	-37
Acquisitions	-1.37	0.29	-57	-3.26	0.00	0.00	0.00
Other Investing Activities, net	-1.27	0.00	-0.13	-0.28	0.00	-0.19	0.58
Net Cash From Financing Activities	-0.86	-1.36	213	-37	-1.20	-0.21	-11
Net Cash From Continuing Financing Activities	-0.86	-1.36	213	-37	-1.20	-0.21	-11
Repayment of Debt	-0.76	-1.04	-4.56	-5.06	-1.71	0.00	0.00
Other Financing Activities, net	-0.20	-0.32	0.07	-32	0.51	-0.21	-11
Other Net Changes in Cash	-	0.11	-0.01	-	0.18	-0.45	0.10
Cash Income Taxes Paid	4.74	2.89	2.49	0.67	1.40	14	15

This table details how cash moves in and out of Paymentus' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Change in Cash & Equivalents	16	0.96	8.65	-2.10	19	40	20	21	33	18	38
Net Cash From Operating Activities	24	11	18	6.74	28	50	31	35	45	30	49
Net Cash From Continuing Operating Activities	24	11	18	6.74	28	50	31	35	45	30	49
Net Income / (Loss) Continuing Operations	9.40	7.23	9.36	14	13	14	15	18	21	21	26
Consolidated Net Income / (Loss)	9.40	7.23	9.36	14	13	14	15	18	21	21	26
Depreciation Expense	8.29	8.54	8.97	9.32	9.66	11	10	10	9.57	9.89	9.43
Amortization Expense	0.80	0.93	0.43	0.51	2.36	0.98	1.02	1.08	1.30	1.02	1.07
Non-Cash Adjustments To Reconcile Net Income	3.95	3.68	4.13	3.73	4.31	3.49	6.91	2.77	6.51	6.46	7.26
Changes in Operating Assets and Liabilities, net	2.00	-9.42	-4.86	-21	-1.56	21	-1.64	3.21	7.09	-7.80	5.54
Net Cash From Investing Activities	-8.45	-9.51	-9.28	-8.83	-9.14	-8.29	-9.42	-10	-8.74	-9.44	-9.08
Net Cash From Continuing Investing Activities	-8.45	-9.51	-9.28	-8.83	-9.14	-8.29	-9.42	-10	-8.74	-9.44	-9.08
Purchase of Property, Plant & Equipment	-8.45	-9.39	-9.27	-8.95	-8.96	-9.34	-9.00	-9.35	-9.41	-9.54	-9.83
Other Investing Activities, net	-	-0.12	-0.00	0.12	-0.18	1.05	-0.42	-0.72	0.67	0.10	0.75
Net Cash From Financing Activities	0.18	-0.41	0.04	-0.02	0.18	-1.89	-1.78	-3.41	-3.50	-3.28	-2.11
Net Cash From Continuing Financing Activities	0.18	-0.41	0.04	-0.02	0.18	-1.89	-1.78	-3.41	-3.50	-3.28	-2.11
Other Financing Activities, net	0.18	-0.41	0.04	-0.02	0.18	-1.89	-1.78	-3.41	-3.50	-3.28	-2.11
Other Net Changes in Cash	-	-0.08	-	0.02	-	-0.03	0.12	-0.17	0.17	-0.14	-0.10
Cash Income Taxes Paid	-0.32	0.43	7.31	4.67	1.99	0.51	9.75	0.82	3.88	0.14	20

This table presents Paymentus' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	125	473	462	505	576	668
Total Current Assets	80	256	229	270	346	441
Cash & Equivalents	47	168	147	179	206	321
Restricted Cash	-	33	2.35	3.83	3.51	3.63
Accounts Receivable	28	44	68	76	120	102
Prepaid Expenses	3.12	8.18	9.99	11	13	13
Current Deferred & Refundable Income Taxes	2.01	2.49	1.49	0.26	3.36	1.21
Plant, Property, & Equipment, net	1.77	2.04	1.82	1.56	1.16	0.88
Total Noncurrent Assets	43	214	231	233	229	226
Goodwill	13	129	132	132	132	132
Intangible Assets	21	73	82	86	86	83
Noncurrent Deferred & Refundable Income Taxes	0.27	0.16	0.12	0.09	0.37	0.31
Other Noncurrent Operating Assets	8.54	12	17	15	11	11
Total Liabilities & Shareholders' Equity	125	473	462	505	576	668
Total Liabilities	40	87	64	75	91	107
Total Current Liabilities	31	74	51	63	82	99
Accounts Payable	17	25	29	35	50	64
Accrued Expenses	10	12	16	21	26	28
Current Deferred & Payable Income Tax Liabilities	0.46	0.12	0.64	0.36	0.19	1.42
Other Current Liabilities	3.62	37	1.46	1.85	2.09	5.79
Total Noncurrent Liabilities	9.39	12	13	12	9.10	8.65
Noncurrent Deferred Revenue	-	-	2.83	2.73	2.78	3.40
Other Noncurrent Operating Liabilities	5.48	9.06	9.36	8.66	6.32	5.24
Total Equity & Noncontrolling Interests	84	386	397	430	486	560
Total Preferred & Common Equity	84	386	397	430	486	560
Total Common Equity	84	386	397	430	486	560
Common Stock	30	356	368	378	390	398
Retained Earnings	55	30	29	52	96	163
Accumulated Other Comprehensive Income / (Loss)	0.22	0.17	-0.02	0.09	-0.23	-0.43

This table presents Paymentus' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026	6/30/2026
Total Assets	467	475	489	514	528	553	591	610	644	699	725
Total Current Assets	233	241	255	280	294	320	362	381	417	473	494
Cash & Equivalents	144	159	162	180	189	188	246	266	288	339	378
Restricted Cash	1.39	3.40	4.83	4.01	4.07	3.24	3.80	3.62	3.57	3.35	2.01
Accounts Receivable	76	67	75	84	90	111	100	97	105	117	106
Prepaid Expenses	9.08	9.00	11	11	9.93	14	12	11	16	12	8.05
Current Deferred & Refundable Income Taxes	2.14	2.38	1.91	0.02	1.33	4.33	0.00	3.78	4.75	1.09	1.13
Plant, Property, & Equipment, net	1.67	1.74	1.68	1.58	1.44	1.32	1.06	1.04	0.95	0.79	2.32
Total Noncurrent Assets	232	233	233	233	232	232	228	228	226	225	229
Goodwill	132	132	132	132	132	132	132	132	132	132	132
Intangible Assets	83	85	86	87	87	87	85	84	83	83	83
Noncurrent Deferred & Refundable Income Taxes	0.12	0.12	0.12	0.09	0.09	0.36	1.38	2.36	0.13	0.77	1.38
Other Noncurrent Operating Assets	17	16	15	14	13	12	9.87	9.50	11	10	12
Total Liabilities & Shareholders' Equity	467	475	489	514	528	553	591	610	644	699	725
Total Liabilities	67	67	72	75	76	84	90	93	107	115	112
Total Current Liabilities	51	51	60	63	65	74	81	83	96	107	101
Accounts Payable	33	31	33	41	43	50	56	53	64	73	71
Accrued Expenses	12	16	19	12	16	20	19	25	26	16	23
Current Deferred & Payable Income Tax Liabilities	0.27	0.11	0.02	3.13	0.09	0.00	1.33	0.00	0.00	9.81	0.37
Other Current Liabilities	6.28	5.09	7.30	6.06	5.01	4.29	5.47	6.00	6.05	7.42	6.97
Total Noncurrent Liabilities	15	16	12	12	11	9.89	9.52	9.35	11	8.03	11
Noncurrent Deferred Revenue	-	-	-	2.75	2.87	2.74	2.75	2.67	2.64	3.20	3.10
Other Noncurrent Operating Liabilities	14	15	11	8.05	7.38	7.15	6.77	6.68	5.89	4.84	7.66
Total Equity & Noncontrolling Interests	400	408	417	439	452	469	500	517	537	583	613
Total Preferred & Common Equity	400	408	417	439	452	469	500	517	537	583	613
Total Common Equity	400	408	417	439	452	469	500	517	537	583	613
Common Stock	370	372	375	380	383	386	391	392	396	400	405
Retained Earnings	30	36	42	59	68	83	110	124	142	184	209
Accumulated Other Comprehensive Income / (Loss)	-0.03	0.06	0.00	0.05	0.01	-0.00	-0.29	-0.22	-0.54	-0.62	-0.61

This table displays calculated financial ratios and metrics derived from Paymentus' official financial filings.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	27.99%	31.07%	25.66%	23.64%	41.86%	37.25%
EBITDA Growth	0.00%	8.23%	-7.75%	-4.87%	123.34%	65.25%	41.85%
EBIT Growth	0.00%	-0.33%	-43.36%	-128.64%	709.39%	149.67%	67.62%
NOPAT Growth	0.00%	1.04%	-32.36%	-122.38%	871.66%	128.48%	61.44%
Net Income Growth	0.00%	0.10%	-32.17%	-105.52%	4,451.27%	97.87%	51.55%
EPS Growth	0.00%	0.00%	-25.00%	-100.00%	0.00%	94.44%	48.57%
Operating Cash Flow Growth	0.00%	103.42%	-45.28%	1.92%	246.44%	-7.55%	154.78%
Free Cash Flow Firm Growth	0.00%	0.00%	-461.81%	52.31%	126.27%	-59.39%	1,330.51%
Invested Capital Growth	0.00%	0.00%	383.46%	34.29%	-0.43%	12.08%	-14.60%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	5.08%	5.61%	11.95%	6.46%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	17.66%	22.59%	10.34%	8.98%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	28.29%	73.90%	12.65%	14.70%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	29.18%	82.02%	11.54%	14.07%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	-116.06%	60.86%	9.27%	12.66%
EPS Q/Q Growth	0.00%	0.00%	0.00%	-100.00%	38.46%	12.90%	10.64%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-27.40%	276.34%	16.44%	5.77%	11.88%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	123.48%	22.67%	18.52%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	46.55%	-1.73%	-0.66%	-4.10%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	31.57%	30.69%	30.69%	30.12%	29.67%	27.32%	24.77%
EBITDA Margin	10.34%	8.74%	6.15%	4.66%	8.41%	9.80%	10.13%
Operating Margin	7.79%	6.11%	2.62%	-0.60%	2.94%	5.15%	6.31%
EBIT Margin	7.79%	6.07%	2.62%	-0.60%	2.95%	5.19%	6.33%
Profit (Net Income) Margin	5.81%	4.54%	2.35%	-0.10%	3.63%	5.07%	5.59%
Tax Burden Percent	74.12%	74.66%	89.72%	39.22%	88.85%	81.88%	78.50%
Interest Burden Percent	100.58%	100.28%	99.94%	44.03%	138.77%	119.34%	112.55%
Effective Tax Rate	25.88%	25.34%	10.28%	0.00%	11.15%	18.12%	21.50%
Return on Invested Capital (ROIC)	0.00%	72.18%	8.37%	-0.96%	6.51%	14.06%	23.16%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	72.39%	8.37%	-1.86%	2.76%	10.27%	20.30%
Return on Net Nonoperating Assets (RNNOA)	0.00%	-39.68%	-4.41%	0.83%	-1.11%	-4.40%	-10.36%
Return on Equity (ROE)	0.00%	32.50%	3.95%	-0.13%	5.40%	9.65%	12.80%
Cash Return on Invested Capital (CROIC)	0.00%	-127.82%	-123.07%	-30.23%	6.94%	2.67%	38.92%
Operating Return on Assets (OROA)	0.00%	14.66%	3.47%	-0.64%	3.75%	8.36%	12.18%
Return on Assets (ROA)	0.00%	10.98%	3.11%	-0.11%	4.62%	8.17%	10.76%
Return on Common Equity (ROCE)	0.00%	32.50%	3.95%	-0.13%	5.40%	9.65%	12.80%
Return on Equity Simple (ROE_SIMPLE)	0.00%	16.25%	2.41%	-0.13%	5.20%	9.10%	0.00%
Net Operating Profit after Tax (NOPAT)	14	14	9.31	-2.08	16	37	59
NOPAT Margin	5.78%	4.56%	2.35%	-0.42%	2.62%	4.21%	4.96%
Net Nonoperating Expense Percent (NNEP)	0.00%	-0.21%	-0.01%	0.89%	3.75%	3.79%	2.86%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-0.52%	3.74%	7.56%	10.58%
Cost of Revenue to Revenue	68.43%	69.31%	69.31%	69.88%	70.33%	72.68%	75.23%
SG&A Expenses to Revenue	4.33%	5.91%	8.34%	7.67%	5.86%	4.24%	3.96%
R&D to Revenue	7.58%	8.12%	8.63%	8.29%	7.20%	5.89%	5.14%
Operating Expenses to Revenue	23.78%	24.59%	28.07%	30.72%	26.73%	22.18%	18.45%
Earnings before Interest and Taxes (EBIT)	18	18	10	-2.97	18	45	76
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	24	26	24	23	52	85	121
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	2.73	10.87	2.48	5.15	8.39	7.07
Price to Tangible Book Value (P/TBV)	0.00	4.61	22.85	5.38	10.44	15.23	11.46
Price to Revenue (P/Rev)	0.98	0.76	10.61	1.98	3.60	4.67	3.31
Price to Earnings (P/E)	25.59	27.01	596.19	0.00	99.03	92.19	59.19
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	3.91%	3.70%	0.17%	0.00%	1.01%	1.08%	1.69%
Enterprise Value to Invested Capital (EV/IC)	0.00	4.83	21.68	3.38	8.23	13.98	15.42
Enterprise Value to Revenue (EV/Rev)	0.00	0.61	10.10	1.68	3.30	4.43	3.04
Enterprise Value to EBITDA (EV/EBITDA)	0.00	6.98	164.22	36.09	39.21	45.20	30.01
Enterprise Value to EBIT (EV/EBIT)	0.00	10.05	385.32	0.00	111.97	85.45	48.01
Enterprise Value to NOPAT (EV/NOPAT)	0.00	13.38	429.45	0.00	126.11	105.16	61.35
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	5.17	205.03	42.05	29.45	60.70	22.44
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	118.22	554.57	36.51
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	0.00	-0.55	-0.53	-0.45	-0.40	-0.43	-0.51
Leverage Ratio	0.00	1.48	1.27	1.19	1.17	1.18	1.19
Compound Leverage Factor	0.00	1.48	1.27	0.53	1.62	1.41	1.34
Debt to Total Capital	0.00%	0.49%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.49%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	99.51%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.02	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	-1.75	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.02	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.03	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	-3.36	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.03	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	0.00	7.40	30.48	10.79	19.60	29.50	25.24
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	0.00	2.57	3.45	4.45	4.31	4.24	4.46
Quick Ratio	0.00	2.40	2.85	4.18	4.07	3.99	4.28
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-24	-137	-65	17	6.96	100
Operating Cash Flow to CapEx	155.49%	239.91%	96.12%	64.05%	200.67%	173.98%	437.02%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.00	2.42	1.32	1.06	1.27	1.61	1.92
Accounts Receivable Turnover	0.00	10.76	10.99	8.90	8.52	8.89	10.77
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	170.30	207.30	257.05	363.50	642.17	1,176.51
Accounts Payable Turnover	0.00	12.43	13.19	12.87	13.42	14.90	15.81
Days Sales Outstanding (DSO)	0.00	33.91	33.21	41.03	42.82	41.08	33.88
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	29.36	27.68	28.36	27.20	24.50	23.08
Cash Conversion Cycle (CCC)	0.00	4.54	5.53	12.66	15.62	16.58	10.80
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	0.00	38	184	247	246	276	236
Invested Capital Turnover	0.00	15.83	3.56	2.30	2.49	3.34	4.67
Increase / (Decrease) in Invested Capital	0.00	38	146	63	-1.07	30	-40
Enterprise Value (EV)	0.00	184	3,997	835	2,027	3,862	3,638
Market Capitalization	230	230	4,198	985	2,210	4,072	3,962
Book Value per Share	$0.00	$0.82	$3.22	$3.23	$3.47	$3.90	$4.47
Tangible Book Value per Share	$0.00	$0.48	$1.53	$1.49	$1.71	$2.14	$2.76
Total Capital	0.00	85	386	397	430	486	560
Total Debt	0.00	0.41	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.41	0.00	0.00	0.00	0.00	0.00
Net Debt	0.00	-46	-202	-150	-183	-209	-325
Capital Expenditures (CapEx)	11	15	20	31	34	37	37
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	2.05	-20	28	24	55	18
Debt-free Net Working Capital (DFNWC)	0.00	49	182	177	208	264	342
Net Working Capital (NWC)	0.00	49	182	177	208	264	342
Net Nonoperating Expense (NNE)	-0.08	0.05	0.01	-1.57	-6.25	-7.44	-7.64
Net Nonoperating Obligations (NNO)	0.00	-46	-202	-150	-183	-209	-325
Total Depreciation and Amortization (D&A)	6.00	8.07	14	26	34	40	45
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	0.68%	-5.01%	5.59%	3.97%	6.27%	1.50%
Debt-free Net Working Capital to Revenue	0.00%	16.14%	46.02%	35.71%	33.78%	30.29%	28.62%
Net Working Capital to Revenue	0.00%	16.14%	46.02%	35.71%	33.78%	30.29%	28.62%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.06	$0.00	$0.18	$0.36	$0.53
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	112.76M	122.10M	123.51M	124.37M	125.25M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.06	$0.00	$0.18	$0.35	$0.52
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	118.82M	122.10M	125.07M	127.71M	129.11M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	121.02M	123.29M	123.92M	124.97M	125.72M
Normalized Net Operating Profit after Tax (NOPAT)	14	14	9.31	-2.08	16	37	59
Normalized NOPAT Margin	5.78%	4.56%	2.35%	-0.42%	2.62%	4.21%	4.96%
Pre Tax Income Margin	7.84%	6.09%	2.62%	-0.26%	4.09%	6.19%	7.13%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	370.02%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	370.02%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Paymentus' official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	125,715,591.00	125,789,337.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	125,715,591.00	125,789,337.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	0.17	0.20
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	24.68%	24.64%	32.55%	51.93%	56.48%	48.88%	41.87%	34.19%	28.15%	30.23%	28.80%
EBITDA Growth	108.92%	152.95%	55.32%	58.65%	43.82%	52.21%	36.65%	40.01%	40.22%	36.47%	56.58%
EBIT Growth	516.38%	964.31%	122.45%	128.43%	55.27%	83.57%	56.04%	65.58%	68.11%	68.75%	103.43%
NOPAT Growth	1,234.85%	462.34%	78.64%	156.85%	49.37%	117.29%	65.84%	29.03%	63.81%	56.55%	83.42%
Net Income Growth	882.45%	926.42%	60.37%	126.28%	39.85%	91.16%	57.06%	22.97%	57.22%	51.17%	73.79%
EPS Growth	250.00%	500.00%	40.00%	120.00%	57.14%	83.33%	57.14%	27.27%	45.45%	45.45%	81.82%
Operating Cash Flow Growth	65.99%	129.98%	-31.91%	-48.74%	14.21%	360.48%	74.59%	420.65%	61.68%	-39.63%	55.21%
Free Cash Flow Firm Growth	113.97%	108.25%	93.03%	80.35%	-309.28%	209.20%	608.62%	414.29%	422.94%	70.72%	46.20%
Invested Capital Growth	-0.43%	0.08%	5.11%	10.87%	12.08%	-1.76%	-4.67%	-11.54%	-14.60%	-3.74%	-5.24%
Revenue Q/Q Growth	8.12%	12.18%	6.79%	17.30%	11.36%	6.73%	1.76%	10.95%	6.35%	8.47%	0.64%
EBITDA Q/Q Growth	32.20%	-3.89%	12.03%	11.46%	19.84%	4.48%	0.29%	13.94%	11.03%	7.55%	15.07%
EBIT Q/Q Growth	73.48%	-6.64%	19.84%	17.69%	17.92%	10.37%	1.87%	24.89%	19.72%	10.79%	22.80%
NOPAT Q/Q Growth	63.09%	-26.98%	37.20%	57.20%	-5.15%	6.22%	4.71%	22.31%	20.40%	1.52%	22.69%
Net Income Q/Q Growth	47.44%	-23.14%	29.59%	54.10%	-8.88%	5.05%	6.47%	20.65%	16.51%	1.01%	22.40%
EPS Q/Q Growth	40.00%	-14.29%	16.67%	57.14%	0.00%	0.00%	0.00%	27.27%	14.29%	0.00%	25.00%
Operating Cash Flow Q/Q Growth	85.96%	-55.18%	64.60%	-62.63%	314.32%	80.71%	-37.59%	11.43%	28.67%	-32.53%	60.45%
Free Cash Flow Firm Q/Q Growth	111.33%	-38.39%	-190.65%	-210.57%	-20.67%	191.02%	49.11%	91.91%	23.99%	-51.88%	27.70%
Invested Capital Q/Q Growth	-1.73%	3.58%	1.38%	7.44%	-0.66%	-9.21%	-1.63%	-0.29%	-4.10%	2.34%	-3.17%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	30.03%	28.52%	29.76%	26.20%	25.60%	23.99%	25.52%	24.09%	25.42%	24.06%	26.14%
EBITDA Margin	11.09%	9.50%	9.97%	9.47%	10.19%	9.98%	9.83%	10.10%	10.54%	10.45%	11.95%
Operating Margin	5.55%	4.51%	5.18%	5.22%	5.50%	5.70%	5.68%	6.39%	7.28%	7.41%	9.04%
EBIT Margin	5.57%	4.64%	5.20%	5.22%	5.53%	5.72%	5.72%	6.44%	7.25%	7.41%	9.04%
Profit (Net Income) Margin	5.71%	3.91%	4.74%	6.23%	5.10%	5.02%	5.25%	5.71%	6.26%	5.83%	7.09%
Tax Burden Percent	83.95%	67.16%	75.10%	99.97%	80.77%	77.60%	80.06%	78.51%	78.00%	71.78%	71.68%
Interest Burden Percent	121.95%	125.50%	121.35%	119.37%	114.17%	113.10%	114.57%	112.87%	110.55%	109.53%	109.33%
Effective Tax Rate	16.05%	32.84%	24.90%	0.03%	19.23%	22.40%	19.94%	21.49%	22.00%	28.22%	28.32%
Return on Invested Capital (ROIC)	11.58%	7.73%	10.79%	15.37%	14.83%	16.82%	18.82%	21.53%	26.55%	27.65%	36.71%
ROIC Less NNEP Spread (ROIC-NNEP)	10.55%	6.75%	9.84%	14.06%	13.97%	16.07%	17.97%	20.64%	25.84%	27.04%	36.04%
Return on Net Nonoperating Assets (RNNOA)	-4.25%	-2.65%	-4.07%	-5.67%	-5.99%	-7.42%	-8.59%	-9.89%	-13.19%	-14.76%	-20.72%
Return on Equity (ROE)	7.34%	5.09%	6.72%	9.70%	8.84%	9.41%	10.23%	11.64%	13.36%	12.89%	15.99%
Cash Return on Invested Capital (CROIC)	6.94%	8.66%	5.19%	2.15%	2.67%	18.95%	24.00%	32.09%	38.92%	30.72%	37.38%
Operating Return on Assets (OROA)	7.09%	6.16%	7.26%	7.80%	8.92%	9.96%	10.52%	12.10%	13.95%	14.71%	18.43%
Return on Assets (ROA)	7.26%	5.19%	6.62%	9.31%	8.22%	8.74%	9.65%	10.72%	12.03%	11.56%	14.44%
Return on Common Equity (ROCE)	7.34%	5.09%	6.72%	9.70%	8.84%	9.41%	10.23%	11.64%	13.36%	12.89%	15.99%
Return on Equity Simple (ROE_SIMPLE)	0.00%	6.56%	7.17%	8.62%	0.00%	10.14%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	7.67	5.60	7.69	12	11	12	13	16	19	19	23
NOPAT Margin	4.66%	3.03%	3.89%	5.22%	4.44%	4.42%	4.55%	5.02%	5.68%	5.32%	6.48%
Net Nonoperating Expense Percent (NNEP)	1.04%	0.99%	0.94%	1.31%	0.86%	0.76%	0.85%	0.89%	0.71%	0.62%	0.67%
Return On Investment Capital (ROIC_SIMPLE)	1.79%	-	-	-	2.36%	2.43%	2.47%	2.90%	3.35%	3.27%	3.81%
Cost of Revenue to Revenue	69.97%	71.48%	70.24%	73.80%	74.40%	76.01%	74.48%	75.91%	74.58%	75.94%	73.86%
SG&A Expenses to Revenue	5.49%	4.92%	4.67%	3.86%	3.75%	3.34%	3.83%	4.60%	4.00%	3.67%	3.69%
R&D to Revenue	6.46%	6.52%	6.35%	5.69%	5.26%	5.49%	5.44%	4.90%	4.82%	4.56%	4.25%
Operating Expenses to Revenue	24.49%	24.01%	24.57%	20.98%	20.10%	18.29%	19.84%	17.70%	18.13%	16.65%	17.10%
Earnings before Interest and Taxes (EBIT)	9.18	8.57	10	12	14	16	16	20	24	27	33
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	18	18	20	22	26	27	28	31	35	37	43
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.15	6.42	5.22	5.32	8.39	6.52	7.93	7.13	7.07	5.47	4.95
Price to Tangible Book Value (P/TBV)	10.44	12.78	10.15	9.97	15.23	11.51	13.61	11.88	11.46	8.65	7.63
Price to Revenue (P/Rev)	3.60	4.33	3.37	3.20	4.67	3.39	3.92	3.41	3.31	2.50	2.23
Price to Earnings (P/E)	99.03	97.74	72.89	61.65	92.19	64.26	73.05	64.52	59.19	43.15	35.81
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	1.01%	1.02%	1.37%	1.62%	1.08%	1.56%	1.37%	1.55%	1.69%	2.32%	2.79%
Enterprise Value to Invested Capital (EV/IC)	8.23	10.32	8.37	8.28	13.98	12.01	15.52	14.40	15.42	11.81	11.38
Enterprise Value to Revenue (EV/Rev)	3.30	4.05	3.10	2.96	4.43	3.13	3.66	3.15	3.04	2.23	1.95
Enterprise Value to EBITDA (EV/EBITDA)	39.21	42.28	31.25	29.72	45.20	31.75	37.44	31.85	30.01	21.73	18.12
Enterprise Value to EBIT (EV/EBIT)	111.97	95.23	65.00	57.35	85.45	57.52	65.86	53.62	48.01	32.93	25.78
Enterprise Value to NOPAT (EV/NOPAT)	126.11	118.06	84.35	69.88	105.16	69.33	78.84	68.13	61.35	43.06	34.61
Enterprise Value to Operating Cash Flow (EV/OCF)	29.45	35.13	32.54	38.25	60.70	29.21	32.84	24.44	22.44	20.06	16.67
Enterprise Value to Free Cash Flow (EV/FCFF)	118.22	119.21	165.22	405.31	554.57	62.84	63.12	42.13	36.51	37.71	29.62
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.40	-0.39	-0.41	-0.40	-0.43	-0.46	-0.48	-0.48	-0.51	-0.55	-0.57
Leverage Ratio	1.17	1.17	1.17	1.18	1.18	1.18	1.17	1.19	1.19	1.19	1.18
Compound Leverage Factor	1.43	1.47	1.42	1.40	1.35	1.33	1.35	1.34	1.32	1.30	1.29
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	19.54	24.67	20.69	19.99	29.33	24.17	29.16	24.25	24.98	19.60	19.37
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	4.31	4.47	4.55	4.31	4.24	4.46	4.56	4.36	4.46	4.41	4.89
Quick Ratio	4.07	4.22	4.32	4.02	3.99	4.27	4.35	4.11	4.28	4.26	4.78
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	8.75	5.39	-4.88	-15	-18	17	25	48	59	28	36
Operating Cash Flow to CapEx	289.28%	116.63%	194.41%	75.29%	311.46%	540.17%	349.61%	375.10%	479.86%	319.17%	497.15%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.27	1.33	1.39	1.49	1.61	1.74	1.84	1.88	1.92	1.98	2.04
Accounts Receivable Turnover	8.52	8.11	8.90	8.37	8.89	10.45	11.20	10.40	10.77	11.78	13.46
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	363.50	401.50	439.67	519.29	642.17	729.97	842.89	989.81	1,176.51	1,382.73	809.99
Accounts Payable Turnover	13.42	12.38	13.34	13.40	14.90	14.69	16.31	14.89	15.81	14.92	16.58
Days Sales Outstanding (DSO)	42.82	45.01	41.02	43.60	41.08	34.93	32.60	35.08	33.88	30.97	27.12
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	27.20	29.48	27.35	27.23	24.50	24.85	22.38	24.52	23.08	24.47	22.02
Cash Conversion Cycle (CCC)	15.62	15.53	13.67	16.37	16.58	10.08	10.22	10.56	10.80	6.51	5.10
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	246	255	259	278	276	251	247	246	236	241	234
Invested Capital Turnover	2.49	2.55	2.77	2.95	3.34	3.80	4.13	4.29	4.67	5.20	5.66
Increase / (Decrease) in Invested Capital	-1.07	0.22	13	27	30	-4.49	-12	-32	-40	-9.38	-13
Enterprise Value (EV)	2,027	2,635	2,166	2,301	3,862	3,012	3,828	3,542	3,638	2,851	2,659
Market Capitalization	2,210	2,819	2,359	2,492	4,072	3,262	4,098	3,833	3,962	3,193	3,039
Book Value per Share	$3.47	$3.55	$3.64	$3.77	$3.90	$4.00	$4.13	$4.29	$4.47	$4.64	$4.88
Tangible Book Value per Share	$1.71	$1.78	$1.87	$2.01	$2.14	$2.27	$2.41	$2.58	$2.76	$2.94	$3.17
Total Capital	430	439	452	469	486	500	517	537	560	583	613
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-183	-184	-193	-191	-209	-250	-270	-291	-325	-342	-380
Capital Expenditures (CapEx)	8.45	9.39	9.27	8.95	8.96	9.34	9.00	9.35	9.41	9.54	9.83
Debt-free, Cash-free Net Working Capital (DFCFNWC)	24	33	37	55	55	31	27	30	18	23	14
Debt-free Net Working Capital (DFNWC)	208	217	230	246	264	281	297	321	342	365	393
Net Working Capital (NWC)	208	217	230	246	264	281	297	321	342	365	393
Net Nonoperating Expense (NNE)	-1.73	-1.62	-1.68	-2.35	-1.69	-1.64	-1.96	-2.15	-1.90	-1.82	-2.18
Net Nonoperating Obligations (NNO)	-183	-184	-193	-191	-209	-250	-270	-291	-325	-342	-380
Total Depreciation and Amortization (D&A)	9.09	8.99	9.40	9.84	12	12	12	11	11	11	11
Debt-free, Cash-free Net Working Capital to Revenue	3.97%	5.05%	5.25%	7.07%	6.27%	3.21%	2.62%	2.67%	1.50%	1.82%	1.00%
Debt-free Net Working Capital to Revenue	33.78%	33.33%	32.82%	31.57%	30.29%	29.16%	28.47%	28.60%	28.62%	28.56%	28.91%
Net Working Capital to Revenue	33.78%	33.33%	32.82%	31.57%	30.29%	29.16%	28.47%	28.60%	28.62%	28.56%	28.91%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.07	$0.06	$0.08	$0.12	$0.10	$0.11	$0.12	$0.14	$0.16	$0.17	$0.20
Adjusted Weighted Average Basic Shares Outstanding	123.51M	123.95M	124.26M	124.54M	124.37M	124.94M	125.08M	125.34M	125.25M	125.67M	125.86M
Adjusted Diluted Earnings per Share	$0.07	$0.06	$0.07	$0.11	$0.11	$0.11	$0.11	$0.14	$0.16	$0.16	$0.20
Adjusted Weighted Average Diluted Shares Outstanding	125.07M	126.92M	127.25M	127.61M	127.71M	128.80M	129.03M	129.25M	129.11M	129.31M	129.01M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	123.92M	124.17M	124.48M	124.63M	124.97M	125.13M	125.26M	125.43M	125.72M	125.79M	125.94M
Normalized Net Operating Profit after Tax (NOPAT)	7.67	5.60	7.69	12	11	12	13	16	19	19	23
Normalized NOPAT Margin	4.66%	3.03%	3.89%	5.22%	4.44%	4.42%	4.55%	5.02%	5.68%	5.32%	6.48%
Pre Tax Income Margin	6.80%	5.82%	6.32%	6.23%	6.31%	6.47%	6.56%	7.27%	8.02%	8.12%	9.88%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Paymentus Holdings (NYSE: PAY) is showing sustained top-line growth and improving profitability. The company’s reported revenue increased from $128.2 million in Q3 2022 to $360.7 million in Q2 2026. On a year-over-year basis, Q2 2026 revenue rose 28.8% from $280.1 million in Q2 2025, while revenue was broadly stable sequentially compared with $358.4 million in Q1 2026.

Profitability has improved considerably over the period. Q2 2026 gross profit was $94.3 million, producing a gross margin of approximately 26.1%, compared with 25.5% in Q2 2025 and 23.2% in Q2 2023. Operating income increased to $32.6 million from $15.9 million in Q2 2025, lifting the operating margin to about 9.0%. Net income reached $25.6 million, up 73.7% year over year, and diluted earnings per share increased to $0.20 from $0.11.

Strong revenue expansion: Q2 revenue has grown from $148.9 million in 2023 to $197.4 million in 2024, $280.1 million in 2025 and $360.7 million in 2026, indicating significant customer and transaction-volume growth.
Improving operating leverage: Q2 operating expenses increased only modestly from $55.6 million in 2025 to $61.7 million in 2026, while operating income more than doubled. The operating margin improved from approximately 5.7% to 9.0%.
Net income and EPS momentum: Quarterly net income rose from $5.8 million in Q2 2023 to $25.6 million in Q2 2026. Q1-to-Q2 2026 net income also increased approximately 22.4%, while diluted EPS rose from $0.16 to $0.20.
Growing operating cash flow: Q2 2026 cash flow from operations was $48.9 million, up from $31.5 million in Q2 2025 and $18.0 million in Q2 2024. This provides evidence that earnings growth is translating into cash generation.
Positive free cash flow: After $9.8 million of capital expenditures, Paymentus generated approximately $39.0 million of quarterly free cash flow in Q2 2026.
Strengthening liquidity: Cash and equivalents increased to $377.7 million at June 30, 2026, from $266.4 million a year earlier and $143.6 million at the end of Q1 2023. Current assets of $494.5 million substantially exceeded current liabilities of $101.2 million.
Limited balance-sheet leverage: The supplied balance sheets show no significant traditional debt balance, while total liabilities were only $112.0 million against $613.4 million of equity at the end of Q2 2026.
Working-capital results are variable: Changes in operating assets and liabilities contributed $5.5 million to Q2 2026 operating cash flow, following a $7.8 million use of cash in Q1. Accounts receivable also declined to $105.6 million from $117.2 million in Q1, which helped cash conversion but should be monitored as the business expands.
Cash income taxes can fluctuate significantly: Cash taxes paid were $20.2 million in Q2 2026, compared with $0.1 million in Q1 2026 and $9.7 million in Q2 2025. This appears to be a timing-related cash-flow item, but it demonstrates that reported earnings and free cash flow may differ between quarters.
Intangible assets and goodwill remain substantial: Goodwill of $131.8 million and intangible assets of $83.2 million represented roughly 30% of total assets at June 30, 2026. Any impairment could reduce reported equity and earnings.
Share count continues to rise: Basic weighted-average shares increased from 123.4 million in Q2 2023 to 125.9 million in Q2 2026. The increase is modest, but ongoing dilution can limit per-share growth over time.
Capital spending remains persistent: Quarterly purchases of property and equipment have remained near $9 million to $10 million across the reported periods. Although operating cash flow currently covers this spending, higher investment requirements could reduce future free cash flow.

Overall, the statements point to a company scaling rapidly while converting a larger portion of revenue into operating profit and cash. The main investor watchpoints are the sustainability of margin gains, the timing of tax payments, continued capital spending, and the relatively large goodwill and intangible-asset balances. The dataset also includes several restated 2023–2025 figures, so historical comparisons should be interpreted using the latest restated amounts where available.

09/04/26 05:04 PM ETAI Generated. May Contain Errors.

Paymentus Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Paymentus' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Paymentus' net income appears to be on an upward trend, with a most recent value of $66.94 million in 2025, rising from $13.70 million in 2019. The previous period was $44.17 million in 2024. See where experts think Paymentus is headed by visiting Paymentus' forecast page.

Paymentus' total operating income in 2025 was $75.54 million, based on the following breakdown:

Total Gross Profit: $296.34 million
Total Operating Expenses: $220.80 million

Over the last 6 years, Paymentus' total revenue changed from $235.78 million in 2019 to $1.20 billion in 2025, a change of 407.5%.

Paymentus' total liabilities were at $107.50 million at the end of 2025, a 18.6% increase from 2024, and a 165.4% increase since 2020.

In the past 5 years, Paymentus' cash and equivalents has ranged from $46.67 million in 2020 to $320.91 million in 2025, and is currently $320.91 million as of their latest financial filing in 2025.

Over the last 6 years, Paymentus' book value per share changed from 0.00 in 2019 to 4.47 in 2025, a change of 446.8%.

Related Companies

Financial statements for NYSE:PAY last updated on 8/4/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Paymentus (PAY) Financials

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Paymentus Financials - Frequently Asked Questions

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Paymentus (PAY) Financials

Annual Income Statements for Paymentus

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Quarterly Cash Flow Statements for Paymentus

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Quarterly Metrics And Ratios for Paymentus

Financials Breakdown Chart

Key Financial Trends

Paymentus Financials - Frequently Asked Questions

When does Paymentus' financial year end?

How has Paymentus' net income changed over the last 6 years?

What is Paymentus' operating income?

How has Paymentus' revenue changed over the last 6 years?

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How has Paymentus' book value per share changed over the last 6 years?

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