PAY Paymentus Holdings Inc

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 8, 2024

 

 

Paymentus Holdings, Inc.

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware			001-40429	45-3188251
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
11605 North Community House Road Suite 300
Charlotte, NC				28277
(Address of Principal Executive Offices)				(Zip Code)

 

(888) 440-4826 Registrant’s Telephone Number, Including Area Code:

 

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Class A Common Stock, par value $0.0001 per share		PAY		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company

☒

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

☐

 

 

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Item 2.02 Results of Operations and Financial Condition

On August 8, 2024, Paymentus Holdings, Inc. issued a press release reporting its financial results for the three and six months ended June 30, 2024. A copy of the press release is furnished as Exhibit 99.1 hereto and is incorporated by reference herein.

The information in Item 2.02 of this Current Report on Form 8-K, including the accompanying Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of Section 18. The information in Item 2.02 of this Current Report, including the accompanying Exhibit 99.1, shall not be incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language contained in such filing.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

 

Exhibit Number		Description
99.1		Press release dated August 8, 2024
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

			PAYMENTUS HOLDINGS, INC.
Date:	August 8, 2024	By:	/s/ Sanjay Kalra
			Sanjay Kalra Senior Vice President and Chief Financial Officer

 

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Paymentus Reports Second Quarter 2024 Financial Results

Revenue up 32.6% year-over-year

Adjusted EBITDA up 58.6% year-over-year, reflecting a 29.5% adjusted EBITDA margin

 

CHARLOTTE, North Carolina, August 8, 2024 -- Paymentus Holdings, Inc. (“Paymentus”) (NYSE: PAY), a leading provider of cloud-based bill payment technology and solutions, today announced its unaudited financial results for the quarter ended June 30, 2024.

 

“The second quarter marked another exceptional period for Paymentus where record revenue, contribution profit and adjusted EBITDA grew 32.6%, 28.3% and 58.6% year-over-year, respectively. We exited the quarter with strong bookings and backlog, supporting our continued momentum,” said Dushyant Sharma, Founder and CEO.

Second Quarter 2024 Financial and Business Highlights

(1) Descriptions of the non-GAAP financial measures adjusted gross profit, contribution profit, non-GAAP net income, non-GAAP earnings per share, adjusted EBITDA, and adjusted EBITDA margin are provided below under “Use and Definitions of Non-GAAP Financial Measures,” and reconciliations are provided in the tables at the end of this release.

Financial Guidance

The statements in this section are forward-looking statements. For additional information regarding the use and limitations of such statements, refer to “Forward-Looking Statements” below and the “Risk Factors” section of Paymentus’ most recent Form 10-K for the fiscal year ended December 31, 2023, filed with the Securities and Exchange Commission, or SEC, on March 5, 2024.

 

	Third Quarter 2024		Fiscal-Year 2024
Revenue	$188 million to $193 million		$770 million to $780 million
Contribution Profit	$71 million to $74 million		$293 million to $298 million
Adjusted EBITDA	$18 million to $20 million		$81 million to $85 million

 

Paymentus does not reconcile its forward-looking guidance for non-GAAP measures because certain financial information, the probable significance of which cannot be determined, is not available and cannot be reasonably estimated due to potential variability, complexity and uncertainty as to the items that would be excluded from the GAAP measure in the relevant future period. Refer to “Use of Forward-Looking Non-GAAP Measures” below for additional explanation.

 

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Conference Call Information

In conjunction with this announcement, Paymentus will host a conference call for investors today at 5:00 p.m. ET (2:00 p.m. PT) to discuss its second quarter 2024 results and outlook for the remainder of 2024. The live webcast and replay will be available at the Investor Relations section of Paymentus’ website at ir.paymentus.com or click here. To participate via telephone, dial 1-833-470-1428 (U.S. Toll-Free) or 1-404-975-4839 (International), access code 570725. A replay will be available after 5:00 p.m. PT on the same web site.

About Paymentus

Paymentus is a leading provider of cloud-based bill payment technology and solutions for more than 2,200 billers and financial institutions across North America. Our omni-channel platform provides consumers with easy-to-use, flexible and secure electronic bill payment experiences through their preferred payment channel and type. Paymentus’ proprietary Instant Payment NetworkTM, or IPN, extends our reach by connecting our IPN partners’ platforms and tens of thousands of billers to our integrated billing, payment, and reconciliation capabilities. For more information, please visit www.paymentus.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical or current fact included in this press release are forward-looking statements, including but not limited to statements regarding demand, bookings and backlog, pipeline, outlook for 2024, our future financial performance and our updated third quarter and full-year 2024 financial guidance. Forward-looking statements include statements containing words such as “expect,” “anticipate,” “believe,” “project,” “will” and similar expressions intended to identify forward-looking statements.

These forward-looking statements are based on our current expectations. Forward-looking statements involve risks and uncertainties. Our actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks related to our ability to effectively manage our growth and expand our operations, including into new channels and industry verticals across different markets; our ability to expand and retain our biller, financial institution, partner and consumer base; our ability to timely implement new bookings and recognize anticipated revenue therefrom, our ability to manage economic challenges, including inflation; the impact of future widespread health issues on our operating results, liquidity and financial condition and on our employees, billers, financial institutions, partners, consumers and other key stakeholders; our ability to remain competitive; our ability to develop new product features and enhance our platform and brand; our future acquisitions and strategic investments; our ability to hire and retain experienced and talented employees; the impact of any cybersecurity incidents; and other risks and uncertainties included under the caption “Risk Factors” and elsewhere in our filings with the SEC, including, without limitation, our Annual Report on Form 10-K for the year ended December 31, 2023, filed with the SEC on March 5, 2024, and subsequent Quarterly Reports on Form 10-Q, including our Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, which we expect to file with the SEC shortly after the date of this release. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

All forward-looking statements are qualified in their entirety by this cautionary statement, and we undertake no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof.

 

 

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Use of Forward-Looking Non-GAAP Measures

We do not meaningfully reconcile guidance for adjusted EBITDA and adjusted EBITDA margin, because we cannot provide guidance for the more significant reconciling items between net income and adjusted EBITDA without unreasonable effort. This is due to the fact that future period non-GAAP guidance includes adjustments for items not indicative of our core operations, which may include, without limitation, items included in the supplemental financial information for reconciliation of reported GAAP results to non-GAAP results. Such items include acquisition related amortization expense for acquired intangibles, foreign exchange gains and losses, adjustments to our income tax provision and certain other items we believe to be non-indicative of our ongoing operations. Such adjustments may be affected by changes in ongoing assumptions and judgments, as well as nonrecurring, unusual or unanticipated charges, expenses or gains/losses or other items that may not directly correlate to the underlying performance of our business operations. The exact amount of these adjustments is not currently determinable but may be significant. In addition, we do not meaningfully reconcile guidance for contribution profit, because the determination of contribution is subject to variables outside our control, such as an increase in the average payment amount, changes in the payment mix, or the payment channel used by consumers that can influence contribution profit, and cannot be determined without unreasonable effort, if at all.

Use and Definitions of Non-GAAP Financial Measures

In addition to disclosing financial measures in accordance with accounting principles generally accepted in the United States, or GAAP, this press release and the accompanying tables contain certain non-GAAP financial measures, including adjusted gross profit, contribution profit, non-GAAP net income (including those amounts as a percentage of revenue), non-GAAP earnings per share, adjusted EBITDA, adjusted EBITDA margin, non-GAAP operating expense and free cash flow. We use non-GAAP measures to supplement financial information presented on a GAAP basis. We believe that excluding certain items from our GAAP results allows management and our board of directors to more fully understand our consolidated financial performance from period to period and helps management project our future consolidated financial performance as forecasts are developed at a level of detail different from that used to prepare GAAP-based financial measures.

Adjusted gross profit is defined as gross profit adjusted for certain non-cash items, primarily stock-based compensation and amortization of acquisition-related intangible assets and capitalized software development costs.

Contribution profit is defined as gross profit plus other cost of revenue. Other cost of revenue equals cost of revenue less interchange and assessment fees paid by us to our payment processors. Interchange and assessment fees paid by us to our payment processors are excluded from contribution profit because we believe inclusion is less directly reflective of our operating performance as we do not control the payment channel used by consumers, which is the primary determinant of the amount of interchange and assessment fees. We use contribution profit to measure the amount available to fund our operations after interchange and assessment fees, which are directly linked to the number of transactions we process and thus our revenue and gross profit.

Adjusted EBITDA is defined as net income before other income (expense) (which consists of interest income (expense), net, other non-recurring income, and foreign exchange gain (loss)), depreciation and amortization of acquisition related intangible assets and capitalized software development costs, and income taxes, adjusted to exclude the effects of stock-based compensation expense and certain nonrecurring expenses that management believes are not indicative of ongoing operations.

Adjusted EBITDA margin is defined as adjusted EBITDA as a percentage of contribution profit.

Non-GAAP operating expense is defined as total operating expense excluding amortization of acquisition-related intangibles, stock-based compensation and other nonrecurring expenses. Management believes that the adjustment of acquisition-related intangibles amortization supplements the GAAP information with a measure that can be used to assess the comparability of operating performance. Although we exclude amortization of acquisition-related intangible assets from our non-GAAP expenses, management believes that it is important for investors to understand that such intangible assets were recorded as part of purchase accounting and contribute to revenue generation. Amortization of intangible assets that relate to past acquisitions will recur in future periods until such intangible assets have been fully amortized. Any future acquisitions may result in the amortization of additional intangible assets.

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Non-GAAP net income and non-GAAP EPS are defined as net income and net income per share, respectively, excluding stock-based compensation, amortization of acquisition-related intangibles and certain nonrecurring items such as discrete tax items, one-time expenses or other non-cash items.

We believe non-GAAP net income and non-GAAP EPS enhance the understanding of our operating performance and enable more meaningful period-to-period comparisons.

Free cash flow is defined as net cash provided by (used in) operating activities less capital expenditures and capitalized internal-use software development costs.

We believe these non-GAAP measures provide our investors with useful information to help them evaluate our operating results by facilitating an enhanced understanding of our operating performance and enabling them to make more meaningful period-to-period comparisons.

We use these non-GAAP measures in conjunction with GAAP measures as part of our overall assessment of our performance and liquidity, including the preparation of our annual operating budget and quarterly forecasts, to evaluate the effectiveness of our business strategies, and to communicate with our board of directors concerning our financial performance and liquidity. There are limitations to the use of the non-GAAP measures presented in this press release. Our non-GAAP measures may not be comparable to similarly titled measures of other companies; other companies, including companies in our industry, may calculate non-GAAP measures differently than we do, limiting the usefulness of those measures for comparative purposes. These non-GAAP measures should not be considered in isolation from or as a substitute for financial measures prepared in accordance with GAAP.

We encourage investors and others to review our financial information in its entirety, not to rely on any single financial measure, and to view our non-GAAP measures in conjunction with GAAP financial measures. For a reconciliation of these non-GAAP financial measures to GAAP measures, please see the tables for the reconciliation of GAAP to non-GAAP results included at the end of this release.

CONTACTS:

At the Company Sanjay Kalra Chief Financial Officer Paymentus Holdings, Inc. ir@paymentus.com	Investor Relations David Hanover paymentus@kcsa.com

 

Media Relations
Tony Labriola
media-relations@paymentus.com

 

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PAYMENTUS HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited)

(In thousands, except share and per share data)

		Three Months Ended June 30,						Six Months Ended June 30,
		2024			2023			2024			2023
Revenue		$	197,422		$	148,939		$	382,297		$	297,267
Cost of revenue			138,671			103,077			270,821			211,327
Gross profit			58,751			45,862			111,476			85,940
Operating expenses
Research and development			12,535			10,907			24,586			22,560
Sales and marketing			26,766			21,599			50,005			41,863
General and administrative			9,214			8,730			18,306			17,875
Total operating expenses			48,515			41,236			92,897			82,298
Income from operations			10,236			4,626			18,579			3,642
Interest income, net			2,194			1,658			4,380			3,098
Other income (expense)			39			(7	)		270			(15	)
Income before income taxes			12,469			6,277			23,229			6,725
Provision for income taxes			(3,105	)		(438	)		(6,639	)		(182	)
Net income		$	9,364		$	5,839		$	16,590		$	6,543
Net income per share
Basic		$	0.08		$	0.05		$	0.13		$	0.05
Diluted		$	0.07		$	0.05		$	0.13		$	0.05
Weighted-average number of shares used to compute net income per share
Basic			124,264,789			123,378,128			124,106,046			123,334,277
Diluted			127,252,366			124,012,107			127,074,921			123,836,815
Comprehensive income
Net income			9,364			5,839			16,590			6,543
Foreign currency translation adjustments, net of tax			(40	)		93			(82	)		86
Comprehensive income		$	9,324		$	5,932		$	16,508		$	6,629

 

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PAYMENTUS HOLDINGS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)

(In thousands, except share and per share data)

		June 30,				December 31,
		2024				2023
Assets
Current assets
Cash and cash equivalents		$	188,810			$	179,361
Restricted cash and cash equivalents			4,070				3,834
Accounts and other receivables, net of allowance for expected credit losses of $449 and $435, respectively			90,057				76,389
Income tax receivable			1,330				259
Prepaid expenses and other current assets			9,929				10,505
Total current assets			294,196				270,348
Property and equipment, net			1,439				1,558
Capitalized internal-use software development costs, net			64,112				58,787
Intangible assets, net			23,117				27,158
Goodwill			131,845				131,860
Operating lease right-of-use assets			8,887				10,027
Deferred tax asset			90				94
Other long-term assets			4,053				5,031
Total assets		$	527,739			$	504,863
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable		$	43,145			$	35,182
Accrued liabilities			16,376				21,301
Current portion of operating lease liabilities			2,112				1,853
Contract liabilities			2,900				4,089
Income tax payable			87				363
Total current liabilities			64,620				62,788
Deferred tax liability			1,244				1,067
Operating lease liabilities, less current portion			7,379				8,661
Contract liabilities, less current portion			2,869				2,731
Total liabilities			76,112				75,247
Stockholders’ equity
Preferred stock, $0.0001 par value per share, 5,000,000 shares authorized as of June 30, 2024 and December 31, 2023; none issued and outstanding as of June 30, 2024 and December 31, 2023			—				—
Class A common stock, $0.0001 par value per share, 883,950,000 shares authorized as of June 30, 2024 and December 31, 2023; 22,346,669 and 20,758,603 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively			2				2
Class B common stock, $0.0001 par value per share, 111,050,000 shares authorized as of June 30, 2024 and December 31, 2023; 102,127,810 and 103,062,508 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively			10				10
Additional paid-in capital			383,276				377,773
Accumulated other comprehensive income			5				87
Retained earnings			68,334				51,744
Total stockholders’ equity			451,627				429,616
Total liabilities and stockholders' equity		$	527,739			$	504,863

 

 

 

 

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PAYMENTUS HOLDINGS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

(In thousands)

 

		Three Months Ended June 30,						Six Months Ended June 30,
		2024			2023			2024			2023
Cash flows from operating activities
Net income		$	9,364		$	5,839		$	16,590		$	6,543
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization			8,969			7,303			17,506			14,542
Deferred income taxes			85			95			177			187
Stock-based compensation			3,323			2,276			6,256			4,435
Non-cash lease expense			692			442			1,198			904
Amortization of contract asset			430			745			881			1,441
Provision for (benefit from) expected credit losses			110			5			158			(234	)
Other non-cash adjustments			—			—			(213	)		—
Change in operating assets and liabilities
Accounts and other receivables			(5,999	)		9,198			(13,849	)		865
Prepaid expenses and other current and long-term assets			912			(64	)		(81	)		797
Accounts payable			2,157			(1,947	)		7,950			1,350
Accrued liabilities			4,048			3,640			(4,118	)		891
Operating lease liabilities			(627	)		(447	)		(1,073	)		(916	)
Contract liabilities			(1,081	)		(204	)		(1,053	)		1,857
Income taxes receivable, net of payable			(4,353	)		(400	)		(1,345	)		(1,418	)
Net cash provided by operating activities			18,030			26,481			28,984			31,244
Cash flows from investing activities
Purchases of property and equipment			(188	)		(286	)		(304	)		(353	)
Purchase of interest-bearing deposits			(590	)		—			(1,313	)		—
Proceeds from matured interest-bearing deposits			588			—			1,190			—
Capitalized internal-use software development costs			(9,086	)		(8,392	)		(18,362	)		(16,611	)
Net cash used in investing activities			(9,276	)		(8,678	)		(18,789	)		(16,964	)
Cash flows from financing activities
Proceeds from exercise of stock-based awards			37			196			137			201
Settlement of holdback liability related to prior acquisitions			—			—			(506	)		—
Payments on other financing obligations			—			(684	)		—			(1,709	)
Payments on finance leases			—			—			—			(102	)
Net cash provided by (used) in financing activities			37			(488	)		(369	)		(1,610	)
Effect of exchange rate changes on Cash and cash equivalents and Restricted cash			(63	)		130			(141	)		113
Net increase in cash, cash equivalents and Restricted cash			8,728			17,445			9,685			12,783
Cash and cash equivalents and Restricted cash at the beginning of period			184,152			145,023			183,195			149,685
Cash and cash equivalents and Restricted cash at the end of period		$	192,880		$	162,468		$	192,880		$	162,468
Reconciliation of Cash and cash equivalents and Restricted Cash:
Cash and cash equivalents at the beginning of period			180,138			143,637			179,361			147,334
Restricted cash at the beginning of period			4,014			1,386			3,834			2,351
Cash and cash equivalents and Restricted cash at the beginning of period		$	184,152		$	145,023		$	183,195		$	149,685
Cash and cash equivalents at the end of period			188,810			159,068			188,810			159,068
Restricted cash at the end of period			4,070			3,400			4,070			3,400
Cash and cash equivalents and Restricted cash at the end of period		$	192,880		$	162,468		$	192,880		$	162,468

 

 

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PAYMENTUS HOLDINGS, INC.

GAAP to Non-GAAP Reconciliations (Unaudited)

(in thousands, except percentages and per share data)

 

The following tables set forth our non-GAAP financial measures with reconciliations to the most directly comparable GAAP financial measures.

Adjusted Gross Profit

	Three Months Ended June 30,								Six Months Ended June 30,
	2024				2023				2024				2023
	(in thousands)
Gross profit	$	58,751			$	45,862			$	111,476			$	85,940
Stock-based compensation		66				29				117				74
Amortization of capitalized software development costs		4,366				3,241				8,395				5,980
Amortization of acquisition-related intangibles		828				829				1,657				1,657
Adjusted gross profit	$	64,011			$	49,961			$	121,645			$	93,651

Contribution Profit

	Three Months Ended June 30,								Six Months Ended June 30,
	2024				2023				2024				2023
	(in thousands)
Gross profit	$	58,751			$	45,862			$	111,476			$	85,940
Plus: other cost of revenue		17,730				13,728				34,372				27,181
Contribution profit	$	76,481			$	59,590			$	145,848			$	113,121

Adjusted EBITDA and Adjusted EBITDA Margin

	Three Months Ended June 30,								Six Months Ended June 30,
	2024				2023				2024				2023
	(in thousands)
Net income — GAAP	$	9,364			$	5,839				16,590			$	6,543
Interest income, net		(2,194	)			(1,658	)			(4,380	)			(3,098	)
Other income (1)		—				—				(213	)			—
Provision for income taxes		3,105				438				6,639				182
Amortization of capitalized software development costs		6,739				5,120				13,050				9,813
Amortization of acquisition-related intangibles		2,020				2,040				4,041				4,264
Depreciation		210				143				415				465
EBITDA	$	19,244			$	11,922			$	36,142			$	18,169
Adjustments
Foreign exchange (gain) loss		(39	)			7				(57	)			15
Stock-based compensation		3,323				2,276				6,256				4,435
Adjusted EBITDA	$	22,528			$	14,205			$	42,341			$	22,619
Adjusted EBITDA margin		29.5	%			23.8	%			29.0	%			20.0	%

 

(1) Other income consists of a remeasurement adjustment relating to the purchase price of a prior acquisition.

 

 

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PAYMENTUS HOLDINGS, INC.

GAAP to Non-GAAP Reconciliations (Unaudited)

(in thousands, except percentages and per share data)

Non-GAAP Operating Expense

	Three Months Ended June 30,								Six Months Ended June 30,
	2024				2023				2024				2023
	(in thousands)
Operating expenses - GAAP	$	48,515			$	41,236			$	92,897			$	82,298
Stock-based compensation		(3,257	)			(2,247	)			(6,139	)			(4,361	)
Amortization of acquisition-related intangibles		(1,193	)			(1,212	)			(2,384	)			(2,607	)
Non-GAAP operating expense	$	44,065			$	37,777			$	84,374			$	75,330

Non-GAAP Net Income & Non-GAAP EPS

	Three Months Ended June 30,								Six Months Ended June 30,
	2024				2023				2024				2023
	(in thousands)
Net income — GAAP	$	9,364			$	5,839			$	16,590			$	6,543
Stock-based compensation		3,323				2,276				6,256				4,435
Amortization of acquisition-related intangibles		2,020				2,040				4,041				4,264
Non-GAAP net income	$	14,707			$	10,155			$	26,887			$	15,242
Weighted-average shares of common stock — diluted		127,252,366				124,012,107				127,074,921				123,836,815
Non-GAAP earnings per share — diluted	$	0.12			$	0.08			$	0.21			$	0.12

Free Cash Flow

	Three Months Ended June 30,								Six Months Ended June 30,
	2024				2023				2024				2023
	(in thousands)
Net cash provided by operating activities	$	18,030			$	26,481			$	28,984			$	31,244
Purchases of property and equipment and software		(188	)			(286	)			(304	)			(353	)
Capitalized internal-use software development costs		(9,086	)			(8,392	)			(18,362	)			(16,611	)
Free cash flow	$	8,756			$	17,803			$	10,318			$	14,280
Net cash used in investing activities	$	(9,276	)		$	(8,678	)		$	(18,789	)		$	(16,964	)
Net cash used in financing activities	$	37			$	(488	)		$	(369	)		$	(1,610	)

 

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v3.24.2.u1

Document and Entity Information	Aug. 08, 2024
Document Information [Line Items]
Amendment Flag	false
Document Type	8-K
Document Period End Date	Aug. 08, 2024
Entity File Number	001-40429
Entity Registrant Name	Paymentus Holdings, Inc.
Entity Central Index Key	0001841156
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-3188251
Entity Address, Address Line One	11605 North Community House Road
Entity Address, Address Line2	Suite 300
Entity Address, City or Town	Charlotte
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28277
City Area Code	(888)
Local Phone Number	440-4826
Title of 12(b) Security	Class A Common Stock, par value $0.0001 per share
Trading Symbol	PAY
Security Exchange Name	NYSE
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false

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