📈 Price History

Ratio Health

— Excellent

— Good

— Average

— Poor

By Category

📊 Sector Averages

About

Paymentus Holdings, Inc. provides cloud-based bill payment technology and solutions in the United States and internationally.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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📊 Quick Scorecard

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⭐ Superinvestors Holding PAY

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Manager	Shares	Value	% of Fund	Period
Steve Cohen Point72 Asset Management	171.6K	$4.4M	0.01%	Mar 2026
Jim Simons Renaissance Technologies LLC	83.1K	$2.1M	0.00%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q2 2025

Confident Specific

Management repeatedly used phrases like 'exceeded our expectations in all key areas', 'strong bookings and a strong backlog', 'feeling very good about 2026', and 'potential to become a multi-billion dollar revenue company', indicating high conviction with concrete performance metrics.

Q3 2025

Confident Specific

Management repeatedly used language such as 'exceeded our expectations', 'exceptional year-over-year growth', 'phenomenal quarter', and 'record Adjusted EBITDA margin' to convey strong performance. They provided specific revenue, Contribution Profit, and Adjusted EBITDA figures and raised full-year guidance.

Q4 2025

Confident Specific

The CEO opened with 'phenomenal fourth quarter and full year 2025' and repeatedly used phrases like 'surpassed our expectations', 'strong bookings and backlog', and 'record revenue'. The CFO provided exact figures (e.g., 61% incremental EBITDA margin) and detailed explanations for guidance conservatism.

Q1 2026 latest

Confident Specific

Management used definitive language like 'tremendous start', 'record revenue', 'strong growth exceeding our CAGR model', and gave precise figures for beats (e.g., revenue $358.4M, adjusted EBITDA $42.4M). They repeatedly highlighted meeting the Rule of 40 at a record 64.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis is stronger after this call. The company delivered a clear beat on revenue, contribution profit, and adjusted EBITDA, raised full-year guidance, and maintained a high Rule of 40 score (64). The incremental adjusted EBITDA margin of ~56% shows strong operating leverage. The AI product launch (BillWallet/Billeo) provides a credible path to long-term interchange monetization and deeper client engagement, with early adoption evidence (100k users enrolled without marketing). However, near-term revenue per transaction dynamics and the impact of energy prices remain somewhat opaque. Next quarter, watch for continued BillWallet adoption numbers, any traction from the AI platform in bookings, and whether the Q2 guidance proves conservative as the company executes on its large backlog. The thesis appears stronger given both financial outperformance and a strategic moat expansion.

AI-generated concall tone analysis · Updated 2026-06-09 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED Paymentus Q1 2026: Record revenue of $358.4M, up 30.2% YoY; launches AI-native Service Commerce platform

Revenue & Profitability

Q1 2026 revenue was $358.4 million, up 30.2% year-over-year. Contribution profit was $109.7 million (up 25.2% YoY), adjusted EBITDA was a record $42.4 million (up 41.5% YoY, 38.7% margin). Non-GAAP net income was $26.9 million ($0.21 per share), up from $17.6 million ($0.14) prior year. Free cash flow was $20.9 million. Cash and equivalents ended at $342.1 million, no debt.

Outlook

Management believes the market is moving toward AI-native service commerce, with tailwinds from the need to replace outdated retail-commerce paradigms in service interactions. They note that the company's approach is validated by trends in generative and agentic AI. Macro conditions (e.g., energy price volatility) have diminished impact due to diversification. The company expects to achieve its long-term targets of ~20% revenue growth and 20-30% adjusted EBITDA growth.

Growth Drivers

Growth is driven by new biller additions (especially large enterprise clients signed in H2 2025), increased same-store sales from existing billers, and new product launches (BillWallet, Billeo, AI360). The company is expanding across multiple verticals and signing channel partners in education and telecom. Bookings and pipeline remain robust, providing visibility into 2027.

Balance Sheet & CapEx

In Q1 2026, investing activities used $9.4 million, primarily for capitalized software (internal-use software development). The company expects to continue investing in go-to-market execution and converting its pipeline into bookings. No formal CapEx guidance was provided, but management noted they will calibrate operating expenses with contribution profit expansion.

Margins

Contribution margin in Q1 2026 was 30.6% (vs. 31.8% a year ago), reflecting increased mix of large enterprise billers. However, operating leverage drove record adjusted EBITDA margin of 38.7% (up 450 bps YoY). Incremental adjusted EBITDA margin was approximately 56%. For full year 2026, guided adjusted EBITDA margin of approximately 36-38% (based on midpoint of $168.5M EBITDA on ~$1.4325B revenue). Rule of 40 was 64 in Q1 and guided at 53-56 for full year.

Key Risks

Key risks discussed include: (1) temporary working capital fluctuations affecting free cash flow, particularly accounts receivable seasonality; (2) seasonal impact from government billers in Q2; (3) residual (though diminished) exposure to energy price index on a small subset of utility business; (4) onboarding and forecasting uncertainty for large enterprise customers; (5) implementation timing of new billers can affect quarterly revenue.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-08-03

Record Q2 results with 28.8% revenue growth and 54% adjusted EBITDA growth, driven by broad-based customer and vertical expansion. Raised 2026 guidance reflects strong bookings, backlog, and accelerating enterprise momentum, with AI innovation positioning for future growth.

Q1 2026 Q1 2026 2026-05-04

Record Q1 2026 results with 30% revenue growth, strong profitability, and robust cash flow. Guidance for 2026 was raised, reflecting confidence in continued growth, while new AI-native products are expected to drive future momentum.

Q4 2025 Q4 2025 2026-02-23

Record 2025 revenue of $1.2B (37% growth) driven by large enterprise clients and innovation, with strong margin expansion and free cash flow. 2026 guidance projects continued double-digit growth, robust profitability, and high visibility, supported by a strong backlog and pipeline.

Q3 2025 Q3 2025 2025-11-03

Q3 2025 saw revenue up 34.2% and Adjusted EBITDA up 45.9%, with strong enterprise onboarding and record margins. Full-year guidance was raised, and high visibility into 2026 is supported by a robust backlog and expanding verticals.

Q2 2025 Q2 2025 2025-08-04

Q2 2025 saw revenue up 41.9% year-over-year and adjusted EBITDA up 40.7%, with strong bookings and backlog driving raised full-year guidance. Large enterprise wins and platform scalability support confidence in multi-year growth and sustained operating leverage.

📊 Analysis Methodology

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Investment Risk:
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