Repay (RPAY) 10-Q 10 Nov 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Nov. 05, 2020
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Registrant Name	Repay Holdings Corporation
Entity Central Index Key	0001720592
Entity Tax Identification Number	98-1496050
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity File Number	001-38531
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Small Business	false
Entity Address, Address Line One	3 West Paces Ferry Road
Entity Address, Address Line Two	Suite 200
Entity Address, Postal Zip Code	30305
City Area Code	404
Local Phone Number	504-7472
Entity Incorporation, State or Country Code	DE
Trading Symbol	RPAY
Title of 12(b) Security	Class A Common Stock, par value $0.0001 per share
Security Exchange Name	NASDAQ
Entity Address, State or Province	GA
Entity Address, City or Town	Atlanta
Class A Common Stock
Entity Common Stock, Shares Outstanding		73,438,353
Class V Common Stock
Entity Common Stock, Shares Outstanding		100

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)		Sep. 30, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents		$ 182,290,497	$ 24,617,996
Accounts receivable		15,789,747	14,068,477
Related party receivable			563,084
Prepaid expenses and other		5,350,733	4,632,965
Total current assets		203,430,977	43,882,522
Property, plant and equipment, net		1,708,731	1,610,652
Restricted cash		10,388,388	13,283,121
Customer relationships, net of amortization		249,611,097	247,589,240
Software, net of amortization		62,067,336	61,219,143
Other intangible assets, net of amortization		23,676,584	24,241,505
Goodwill		415,510,625	389,660,519
Deferred tax assets		128,294,164
Other assets			555,449
Total noncurrent assets		891,256,925	738,159,629
Total assets		1,094,687,902	782,042,151
Liabilities
Accounts payable		11,892,529	9,586,001
Related party payable		14,896,246	14,571,266
Accrued expenses		12,677,908	15,965,683
Current maturities of long-term debt	[1]	6,760,650	5,500,000
Current tax receivable agreement		10,105,356	6,336,487
Total current liabilities		56,332,689	51,959,437
Long-term debt, net of current maturities		251,307,205	197,942,705
Line of credit			10,000,000
Tax receivable agreement, net of current portion		212,794,971	60,839,739
Deferred tax liability			768,335
Other liabilities		10,635,013	16,864
Total noncurrent liabilities		474,737,189	269,567,643
Total liabilities		531,069,878	321,527,080
Commitment and contingencies (Note 12)
Stockholders' equity
Additional paid-in capital		609,914,694	307,914,346
Accumulated other comprehensive (loss) income		(9,265,548)	313,397
Accumulated deficit		(79,441,366)	(53,878,460)
Total stockholders' equity		521,214,889	254,353,036
Equity attributable to non-controlling interests		42,403,135	206,162,035
Total liabilities and stockholders' equity and members' equity		1,094,687,902	782,042,151
Class A Common Stock
Stockholders' equity
Common stock value		7,109	3,753
Total stockholders' equity		$ 7,109	$ 3,753
[1]	Pursuant to the terms of the New Credit Agreement, the Company is required to make quarterly principal payments equal to 0.625 % of the initial principal amount of the Term Loan and Delayed Draw Term Loan (collectively the “Term Loans”).

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical)	Sep. 30, 2020$ / sharesshares
Class A Common Stock
Common shares, par value | $ / shares	$ 0.0001
Common shares, shares authorized	2,000,000,000
Common shares, shares issued	71,087,989
Common shares, shares outstanding	71,087,989
Class V Common Stock
Common shares, par value | $ / shares	$ 0.0001
Common shares, shares authorized	1,000
Common shares, shares issued	100
Common shares, shares outstanding	100

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	Jul. 10, 2019	Sep. 30, 2020	Sep. 30, 2019	Jul. 10, 2019	Sep. 30, 2020
Income Statement [Abstract]
Revenue	$ 2,333,837	$ 37,634,537	$ 23,926,474	$ 47,042,917	$ 113,597,599
Operating Expenses
Other costs of services	467,874	10,492,011	6,367,624	10,216,079	29,989,935
Selling, general and administrative	34,069,143	28,580,764	21,002,624	51,201,322	65,765,167
Depreciation and amortization	333,290	15,421,129	10,702,840	6,222,917	44,031,111
Change in fair value of contingent consideration		(3,750,000)			(3,010,000)
Total operating expenses	34,870,307	50,743,904	38,073,088	67,640,318	136,776,213
(Loss) Income from operations	(32,536,470)	(13,109,367)	(14,146,614)	(20,597,401)	(23,178,614)
Other (expense) income
Interest expense	(226,539)	(3,624,499)	(2,685,998)	(3,145,167)	(10,846,639)
Change in fair value of tax receivable liability		(1,475,376)	(450,922)		(12,055,797)
Other income		25,379	(1,315,932)	38	69,826
Total other (expense) income	(226,539)	(5,074,496)	(4,452,852)	(3,145,129)	(22,832,610)
(Loss) income before income tax expense	(32,763,009)	(18,183,863)	(18,599,466)	(23,742,530)	(46,011,224)
Income tax benefit		3,382,859	2,719,402		8,395,077
Net (loss) income	(32,763,009)	(14,801,004)	(15,880,064)	(23,742,530)	(37,616,147)
Less: Net (loss) income attributable to non-controlling interests		(5,297,782)	(7,399,303)		(12,053,241)
Net (loss) income attributable to the Company	$ (32,763,009)	$ (9,503,222)	$ (8,480,761)	$ (23,742,530)	$ (25,562,906)
Loss per Class A share:
Basic and diluted		$ (0.16)	$ (0.25)		$ (0.56)
Weighted-average shares outstanding:
Basic and diluted		57,913,089	34,326,127		45,806,225

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)	Jul. 10, 2019	Sep. 30, 2020	Sep. 30, 2019	Jul. 10, 2019	Sep. 30, 2020
Statement Of Income And Comprehensive Income [Abstract]
Net (loss) income	$ (32,763,009)	$ (14,801,004)	$ (15,880,064)	$ (23,742,530)	$ (37,616,147)
Other comprehensive income (loss), before tax
Change in fair value of designated cash flow hedges		560,800			(10,687,184)
Total other comprehensive income (loss), before tax		560,800			(10,687,184)
Income tax related to items of other comprehensive income:
Tax benefit on change in fair value of designated cash flow hedges		47,122			1,598,492
Total income tax benefit on related to items of other comprehensive income		47,122			1,598,492
Total other comprehensive income (loss), net of tax		607,922			(9,088,692)
Total comprehensive loss	(32,763,009)	(14,193,082)	(15,880,064)	(23,742,530)	(46,704,839)
Less: Comprehensive loss attributable to non-controlling interests		(4,534,744)			(15,879,944)
Comprehensive loss attributable to the Company	$ (32,763,009)	$ (9,658,338)	$ (15,880,064)	$ (23,742,530)	$ (30,824,895)

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity (Unaudited) - USD ($)	Total	Class A Common Stock	Class A Common StockFounder	Class V Common Stock	Additional Paid-In Capital	Additional Paid-In CapitalFounder	Accumulated Deficit	Non-controlling Interests	Accumulated Other Comprehensive (Loss) Income
Balance at Dec. 31, 2018	$ 109,078,357
Net Income (Loss)	(23,742,530)
Balance at Jul. 10, 2019	79,339,814
Balance at Jul. 10, 2019	252,938,525	$ 3,343			$ 290,592,210		$ (37,657,028)	$ 221,443,561
Balance, shares at Jul. 10, 2019		33,430,259		100
Balance at Dec. 31, 2018	109,078,357
Net Income (Loss)	9,020,479
Stock based compensation	250,783
Distribution to members	(6,904,991)
Balance at Jun. 30, 2019	111,444,628
Net Income (Loss)	(32,763,009)
Stock based compensation	658,195
Balance at Jul. 10, 2019	79,339,814
Balance at Jul. 10, 2019	252,938,525	$ 3,343			290,592,210		(37,657,028)	221,443,561
Balance, shares at Jul. 10, 2019		33,430,259		100
Net Income (Loss)	(8,480,761)						(8,480,761)	(7,399,303)
Release of shares			$ 148			$ (148)
Release of Shares, share			$ 1,482,500
Release of share awards vested under 2019 Plan		$ 58			(58)
Release of share awards vested under 2019 Plan, shares		575,301
Stock-based compensation	9,750,822				9,750,822
Tax distribution from Hawk Parent								(185,957)
Balance at Sep. 30, 2019	254,208,586	$ 3,549			300,342,826		(46,137,789)	213,858,301
Balance, shares at Sep. 30, 2019		35,488,060		100
Net Income (Loss)	(16,059,684)						(16,059,684)	(6,755,458)
Balance at Dec. 31, 2019	254,353,036	$ 3,753			307,914,346		(53,878,460)	206,162,035	$ 313,397
Balance, shares at Dec. 31, 2019		37,530,568		100
Issuance of new shares	173,992,308	$ 920			173,991,388
Issuance of new shares, shares		9,200,000
Redemption Of Post Merger Repay Units	(64,022,585)				(63,321,690)			(34,777,415)	(700,895)
Stock-based compensation	8,998,180				8,998,180
Warrant exercise	55,327,515	$ 529			55,326,986
Warrant exercise, shares		5,287,762
Valuation allowance on Ceiling Rule DTA	(8,300,787)				(8,300,787)
Accumulated other comprehensive (loss) income	(6,494,742)							(4,784,620)	(6,494,742)
Balance at Jun. 30, 2020	397,793,241	$ 5,202			474,608,423		(69,938,144)	159,844,542	(6,882,240)
Balance, shares at Jun. 30, 2020		52,018,330		100
Net Income (Loss)	(25,562,906)
Balance at Dec. 31, 2019	254,353,036	$ 3,753			307,914,346		(53,878,460)	206,162,035	313,397
Balance, shares at Dec. 31, 2019		37,530,568		100
Balance at Sep. 30, 2020	521,214,889	$ 7,109			609,914,694		(79,441,366)	42,403,135	(9,265,548)
Balance, shares at Sep. 30, 2020		71,087,989		100
Net Income (Loss)	(9,503,222)						(9,503,222)	(5,297,782)
Balance at Jun. 30, 2020	397,793,241	$ 5,202			474,608,423		(69,938,144)	159,844,542	(6,882,240)
Balance, shares at Jun. 30, 2020		52,018,330		100
Issuance of new shares	336,374,510	$ 1,436			336,373,074
Issuance of new shares, shares		14,364,816
Exchange of Post-Merger Repay Units	13,456,679	$ 158			13,796,879			(13,456,679)	(340,358)
Exchange of Post-Merger Repay Units Shares		1,579,330
Redemption Of Post Merger Repay Units	(239,159,854)				(236,701,453)			(97,335,959)	(2,458,401)
Release of share awards vested under 2019 Plan		$ 39			(39)
Release of share awards vested under 2019 Plan, shares		387,022
Treasury shares repurchased	(701,374)				(701,374)
Stock-based compensation	5,768,220				5,768,220
Warrant exercise	31,471,331	$ 274			31,471,057
Warrant exercise, shares		2,738,491
Tax distribution from Hawk Parent								(1,496,336)
Valuation allowance on Ceiling Rule DTA	(14,700,093)				(14,700,093)
Accumulated other comprehensive (loss) income	415,451							145,349	415,451
Balance at Sep. 30, 2020	$ 521,214,889	$ 7,109			$ 609,914,694		$ (79,441,366)	$ 42,403,135	$ (9,265,548)
Balance, shares at Sep. 30, 2020		71,087,989		100

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended	6 Months Ended	9 Months Ended
	Sep. 30, 2019	Jul. 10, 2019	Sep. 30, 2020
Cash flows from operating activities
Net loss	$ (15,880,064)	$ (23,742,530)	$ (37,616,147)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	10,702,840	6,222,917	44,031,111
Stock based compensation	9,750,822	908,978	14,766,400
Amortization of debt issuance costs	223,761	215,658	1,054,809
Fair value change in tax receivable agreement liability	450,922		12,055,798
Fair value change in other assets and liabilities			(3,041,378)
Deferred tax expense	(2,719,402)		(8,395,077)
Change in accounts receivable	247,912	(4,614,620)	(179,943)
Change in related party receivable			563,084
Change in prepaid expenses and other	(3,089,306)	(73,533)	(499,594)
Change in accounts payable	2,914,452	1,297,035	2,055,447
Change in related party payable			(14,545,569)
Change in accrued expenses and other	2,335,150	28,136,310	(4,024,327)
Change in other liabilities			486,414
Net cash provided by operating activities	4,937,087	8,350,215	6,711,028
Cash flows from investing activities
Purchases of property and equipment	(265,720)	(203,026)	(811,626)
Purchases of software	(1,682,965)	(3,842,744)	(10,853,882)
Net cash used in investing activities	(303,507,151)	(4,045,770)	(55,175,743)
Cash flows from financing activities
Change in line of credit	(3,500,000)		(10,000,000)
Issuance of long-term debt	210,000,000		60,425,983
Payments on long-term debt	(89,800,000)	(2,450,000)	(4,993,825)
Repurchase of outstanding warrants	(38,700,000)
Repurchase of treasury shares			(701,374)
Exercise of warrants			86,798,846
Conversion of Thunder Bridge Class A ordinary shares to Class A Common Stock	148,870,571
Redemption of Post-Merger Repay Units			(435,295,813)
Distributions to Members	(185,957)	(6,904,991)	(1,496,336)
Payment of loan costs	(6,065,465)		(1,861,816)
Net cash provided by (used in) financing activities	355,619,149	(9,354,991)	203,242,483
Increase (decrease) in cash, cash equivalents and restricted cash	57,049,085	(5,050,546)	154,777,768
Cash, cash equivalents and restricted cash at beginning of period	32,850,571	37,901,117	37,901,117
Cash, cash equivalents and restricted cash at end of period	57,049,085	32,850,571	192,678,885
Cash paid during the year for:
Interest	1,907,283	$ 2,929,509	9,023,058
Hawk Parent
Cash flows from investing activities
Acquisition, net of cash and restricted cash acquired	(242,599,551)
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES
Acquisition of Hawk Parent in exchange for Class A Common Stock	220,056,226
Acquisition of Hawk Parent in exchange for amounts payable under Tax Receivable Agreement	65,886,701
Acquisition in exchange for contingent consideration	12,300,000
TriSource Solutions, LLC
Cash flows from investing activities
Acquisition, net of cash and restricted cash acquired	(58,958,915)
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES
Acquisition in exchange for contingent consideration	2,250,000		1,750,000
Ventanex
Cash flows from investing activities
Acquisition, net of cash and restricted cash acquired			(35,460,153)
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES
Acquisition in exchange for contingent consideration			4,800,000
APS Payments
Cash flows from investing activities
Acquisition, net of cash and restricted cash acquired			(465,454)
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES
Acquisition in exchange for contingent consideration			6,580,549
cPayPlus
Cash flows from investing activities
Acquisition, net of cash and restricted cash acquired			(7,584,628)
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES
Acquisition in exchange for contingent consideration			6,500,000
Class A Common Stock
Cash flows from financing activities
Public issuance of Class A Common Stock	$ 135,000,000		$ 510,366,818

Organizational Structure and Co

Organizational Structure and Corporate Information	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Organizational Structure and Corporate Information	1. Organizational Structure and Corporate Information Repay Holdings Corporation was incorporated as a Delaware corporation on July 11, 2019 in connection with the closing of a transaction (the “Business Combination”) pursuant to which Thunder Bridge Acquisition Ltd., a special purpose acquisition company organized under the laws of the Cayman Islands (“Thunder Bridge”), (a) domesticated into a Delaware corporation and changed its name to “Repay Holdings Corporation” and (b) consummated the merger of a wholly owned subsidiary of Thunder Bridge with and into Hawk Parent Holdings, LLC, a Delaware limited liability company (“Hawk Parent”). Throughout this section, unless otherwise noted or unless the context otherwise requires, the terms “we”, “us”, “Repay” and the “Company” and similar references refer (1) before the Business Combination, to Hawk Parent and its consolidated subsidiaries and (2) from and after the Business Combination, to Repay Holdings Corporation and its consolidated subsidiaries. Throughout this section, unless otherwise noted or unless the context otherwise requires, “Thunder Bridge” refers to Thunder Bridge Acquisition. Ltd. prior to the consummation of the Business Combination. The Company is headquartered in Atlanta, Georgia. The Company’s legacy business was founded as M & A Ventures, LLC, a Georgia limited liability company doing business as REPAY: Realtime Electronic Payments (“REPAY LLC”), in 2006 by current executives John Morris and Shaler Alias. Hawk Parent was formed in 2016 in connection with the acquisition of a majority interest in the successor entity of REPAY LLC and its subsidiaries by certain investment funds sponsored by, or affiliated with, Corsair Capital LLC (“Corsair”). On June 2, 2020, the Company completed an underwritten offering of 9,200,000 shares of its Class A common stock (the “June Follow-on Offering”) pursuant to the terms of an Underwriting Agreement (the “June Underwriting Agreement”), dated May 28, 2020, with Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC and Barclays Capital Inc., as representatives of the several underwriters named therein . 1,200,000 shares of such Class A common stock were sold in the offering in connection with the full exercise of the underwriters’ option to purchase additional shares pursuant to the Underwriting Agreement. The shares of Class A common stock issued by the Company were sold at a price to the public of $20.00 per share ($19.00 per share net of underwriting discounts and commissions). In connection with the June Follow-on Offering, the Company entered into a unit purchase agreement, dated May 28, 2020 (the “June Unit Purchase Agreement”), with CC Payment Holdings, L.L.C., an entity controlled by Corsair, pursuant to which the Company acquired 5,200,000 units representing limited liability company interests of Hawk Parent (“Post-Merger Repay Units”) at a purchase price of $19.00 per Post-Merger Repay Unit, which was equal to the purchase price per share of Class A common stock paid to the Company by the underwriters for shares of Class A common stock in connection with the June Follow-on Offering. On July 23, 2020, the Company acquired all of the equity interest of cPayPlus, LLC (“cPayPlus”) for $ 8.0 cPayPlus selling equityholders may be entitled to a total $8.0 cash earnout payment in the third quarter of 2021, dependent upon the achievement of certain growth targets. During the three months ended September 30, 2020, warrant holders of the Company exercised warrants in exchange for 2.7 million shares of Class A common stock. The Company received $31.5 million upon the exercise of the warrants. On July 27, 2020, the Company completed the redemption of all of its outstanding warrants to purchase shares of the Company’s Class A common stock. The exercise of these warrants resulted in the issuance of 2.7 million shares of Class A common stock and proceeds to the Company of $31.5 million. On September 14, 2020, the Company completed an underwritten offering of 13,000,000 shares of its Class A common stock (the “September Follow-on Offering” and together with the June Follow-on Offering, the “Follow-on Offerings”) pursuant to the terms of an Underwriting Agreement (the “September Underwriting Agreement”), dated September 9, 2020, with Morgan Stanley & Co. LLC, as underwriter. Pursuant to the September Underwriting Agreement, the Company granted the underwriter a 30-day option to purchase up to an aggregate of 1,364,816 additional shares of Class A common stock solely to cover over-allotments. On September 22, 2020 the underwriter exercised the option to purchase 1,364,816 shares of the Company’s Class A common stock. The shares of Class A common stock issued by the Company were sold at a price to the public of $24.00 per share ($ 23.425 per share net of underwriting discounts and commissions). In connection with the September Follow-on Offering, the Company entered into a unit purchase agreement, dated September 9, 2020 (the “September Unit Purchase Agreement”), and, together with the June Unit Purchase Agreement, the “Unit Purchase Agreements”), with CC Payment Holdings, L.L.C., an entity controlled by Corsair, pursuant to which the Company acquired 14,364,816 Post-Merger Repay Units at a purchase price of $23.425 per Post-Merger Repay Unit, which was equal to the purchase price per share of Class A common stock paid to the Company by the underwriters for shares of Class A common stock in connection with the September Follow-on Offering.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	2. Basis of Presentation and Summary of Significant Accounting Policies Unaudited Interim Financial Statements These unaudited consolidated interim financial statements should be read in conjunction with the Company's audited consolidated financial statements and accompanying notes for the period ended December 31, 2019 and Hawk Parent audited consolidated financial statements and accompanying notes for the years ended December 31, 2018 and 2017, which are included in the Company’s Form 10-K for the year ended December 31, 2019, as amended. The accompanying unaudited consolidated interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and with instructions to Form 10-Q and Rule 10-01 of SEC Regulation S-X as they apply to interim financial information. Accordingly, the interim consolidated financial statements do not include all of the information and notes required by GAAP for complete financial statements, although the Company believes that the disclosures made are adequate to make the information not misleading. The interim consolidated financial statements are unaudited, but in the Company’s opinion include all adjustments that are necessary for a fair statement of financial position, operations and cash flows as of and for the periods presented. The interim financial results are not necessarily indicative of results that may be expected for any other interim period or the fiscal year. Principles of Consolidation The consolidated financial statements include the accounts of Repay Holdings Corporation, the majority-owned Hawk Parent Holdings LLC and its wholly owned subsidiaries: Hawk Intermediate Holdings, LLC, Hawk Buyer Holdings, LLC, Repay Holdings, LLC, M&A Ventures, LLC, Repay Management Holdco Inc., Repay Management Services LLC, Sigma Acquisition, LLC, Wildcat Acquisition, LLC (“PaidSuite”), Marlin Acquirer, LLC (“Paymaxx”), REPAY International LLC, REPAY Canada Solutions ULC, TriSource Solutions, LLC (“TriSource”), Mesa Acquirer, LLC, CDT Technologies LTD, Viking GP Holdings, LLC, and cPayPlus, LLC. All significant intercompany accounts and transactions have been eliminated in consolidation. Basis of Financial Statement Presentation The accompanying interim consolidated financial statements of the Company were prepared in accordance with GAAP. The Company uses the accrual basis of accounting whereby revenues are recognized when earned, usually upon the date services are rendered, and expenses are recognized at the date services are rendered or goods are received. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported consolidated statements of operations during the reporting period. Actual results could differ materially from those estimates. Emerging Growth Company The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended, as modified by the Jumpstart Our Business Startups Act of 2012, and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, delay adopting new or revised accounting standards issued until such time as those standards apply to private companies, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. The Company expects that it will cease being an emerging growth company on December 31, 2020. As a result, the Company would no longer be eligible to delay adoption of such new or revised accounting pronouncements applicable to public companies. Recently Adopted Accounting Pronouncements Fair Value Measurement In August 2018, the Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement, ASU 2018-13 is effective for the Company’s annual period beginning after December 15, 2019. The amendments on changes in unrealized gains and losses should be applied prospectively for only the most recent period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented on their effective date. After adopting ASU 2018-13, there was no material effect on the Company’s consolidated financial statements. Recently Issued Accounting Pronouncements not yet Adopted Leases In February 2016, the FASB issued ASU 2016‑02, Leases (Subtopic 842) The effective date of this ASU for emerging growth companies is for fiscal years beginning after December 15, 2020, and interim periods within fiscal years beginning after December 15, 202 1. The Company will adopt ASU 2016-02 and subsequent related ASUs on December 31, 2020, as a result of the Company’s expectation that it will cease being an emerging growth company on December 31, 2020, which will result in an increase in right-of-use assets and associated lease liabilities, arising from operating leases in which the Company is the lessee, on its Consolidated Balance Sheets. The amount of the right-of-use assets and associated lease liabilities recorded upon adoption will be based primarily on the present value of unpaid future minimum lease payments in effect at the date of adoption. As of September 30, 2020, the quantitative impacts of right-of-use-assets and associated lease liabilities are not yet reasonably estimated. The Company’s implementation efforts are ongoing, including the review of operating leases and related lease accounting policies. In conjunction with this implementation, the Company is evaluating potential changes to its control environment. Credit Losses In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments The Company plans to adopt ASU 2016-13 on December 31, 2020, as a result of the Company’s expectation that it will cease being an emerging growth company on December 31, 2020. The Company is currently evaluating the impact of the adoption of this ASU and does not expect this ASU to have a material impact on its consolidated financial statements or related disclosures. Accounting for Income Taxes In December 2019, the FASB issued ASU No. 2019-12, " Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes Income Taxes (Topic 740) Reclassification Certain amounts in the consolidated financial statements have been reclassified from their original presentation to conform to current year presentation. These reclassifications had no material impact on the consolidated financial statements as previously reported.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2020
Revenue From Contract With Customer [Abstract]
Revenue	3. Revenue Most of the Company’s revenues are derived from volume-based payment processing fees (“discount fees”) and other related fixed per transaction fees. Discount fees represent a percentage of the dollar amount of each credit or debit transaction processed and include fees relating to processing and services that the Company provides. The Company’s performance obligations in its contracts with customers is the promise to stand-ready to provide payment processing services ("processing services") for an unknown or unspecified quantity of transactions and the consideration received is contingent upon the customer’s use (e.g., number of transactions submitted and processed) of the related processing services. Accordingly, the total transaction price is variable. These services are stand-ready obligations, as the timing and quantity of transactions to be processed is not determinable. Under a stand-ready obligation, the Company’s performance obligation is satisfied over time throughout the contract term rather than at a point in time. Because the service of standing ready to perform processing services is substantially the same each day and has the same pattern of transfer to the customer, the Company has determined that its stand-ready performance obligation comprises a series of distinct days of service. Discount fees and other fixed per transaction fees are recognized each day using a time-elapsed output method based on the volume or transaction count at the time the merchants’ transactions are processed. Revenue recorded by the Company in the capacity as a principal is reported on a gross basis equal to the full amount of consideration to which the Company expects in exchange for the good or service transferred. Revenue recorded with the Company acting in the capacity of an agent is reported on a net basis, exclusive of any consideration provided to the principal party in the transaction. Interchange and network fees Within its contracts with customers, the Company incurs interchange and network pass-through charges from the third-party card issuers and payment networks, respectively, related to the provision of payment authorization and routing services. The Company has determined that it is acting as an agent with respect to these payment authorization and routing services and as such, the Company views the card-issuing bank and the payment network as the principal for these performance obligations. Therefore, revenue allocated to the payment authorization performance obligation is presented net of interchange and card network fees paid to the card issuing banks and card networks, respectively, for the three and nine months ended September 30, 2020 and 2019 respectively. Indirect relationships As a result of its past acquisitions, the Company has legacy relationships with Independent Sales Organizations (each an “ISO”), whereby the Company acts as the merchant acquirer for the ISO. The ISO maintains a direct relationship with the sponsor bank and the transaction processor, rather than the Company. Consequently, the Company recognizes revenue for these relationships net of the residual amount remitted to the ISO, based on the fact that the ISO is primarily responsible for providing the transaction processing services to the merchant. The Company is not focused on this sales model, and this relationship will represent an increasingly smaller portion of the business over time. Disaggregation of revenue The table below presents a disaggregation of revenue by direct and indirect relationships for the periods indicated: Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 From July 11, 2019 to September 30, 2019 From July 1, 2019 to July 10, 2019 From January 1, 2019 to July 10, 2019 (Successor) (Predecessor) Revenue Direct relationships $ 37,088,404 $ 111,677,862 $ 23,432,825 $ 2,274,747 $ 45,693,961 Indirect relationships 546,133 1,919,737 493,649 59,090 1,348,956 Total Revenue $ 37,634,537 $ 113,597,599 $ 23,926,474 $ 2,333,837 $ 47,042,917 Contract Costs The incremental costs of obtaining a contract are recognized as an asset if the cost is incremental to obtaining a contract, and whether the costs are recoverable from the client. If both criteria are not met, costs are expensed as incurred. If the amortization period of the capitalized commission cost asset is less than one year, the Company may elect a practical expedient per ASC 340-40-25-4 to expense commissions as incurred. The Company currently incurs costs to obtain a contract through payments made to external referral partners. Any capitaliz able commission cost assets would have an amortization period of one year or less, therefore the Company utilizes the practical expedient to expense commissions as incurred.

Earnings per Share

Earnings per Share	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Earnings per Share	4. Earnings Per Share During the three and nine months ended September 30, 2020 and the period from July 11, 2019 to September 30, 2019, basic and diluted net loss per common share are the same since the inclusion of the assumed exchange of all limited liability company interests of Hawk Parent (the “Post-Merger Repay Units”), unvested restricted share awards and all warrants would have been anti-dilutive. The following table summarizes net loss attributable to the Company and the weighted average basic and basic and diluted shares outstanding: Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 From July 11, 2019 to September 30, 2019 Loss before income tax expense $ (18,183,863 ) $ (46,011,224 ) $ (18,599,466 ) Less: Net loss attributable to non-controlling interests (5,297,782 ) (12,053,241 ) (7,399,303 ) Income tax benefit 3,382,859 8,395,077 2,719,402 Net loss attributable to the Company $ (9,503,222 ) $ (25,562,906 ) $ (8,480,761 ) Weighted average shares of Class A common stock outstanding - basic and diluted 57,913,089 45,806,225 34,326,127 Loss per share of Class A common stock outstanding - basic and diluted $ (0.16 ) $ (0.56 ) $ (0.25 ) For the three and nine months ended September 30, 2020 and the period from July 11, 2019 to September 30, 2019, the following common stock equivalent shares were excluded from the computation of the diluted loss per share, since their inclusion would have been anti-dilutive: Post-Merger Repay Units exchangeable for Class A common stock 8,361,477 8,361,477 22,045,296 Earn-out Post-Merger Repay Units exchangeable for Class A common stock - - 7,500,000 Dilutive warrants exercisable for Class A common stock - - 1,160,053 Unvested restricted share awards of Class A common stock 2,445,535 2,445,535 2,031,861 Share equivalents excluded from earnings (loss) per share 10,807,012 10,807,012 32,737,210 Shares of the Company’s Class V common stock do not participate in the earnings or losses of the Company and, therefore, are not participating securities. As such, separate presentation of basic and diluted earnings per share of Class V common stock under the two-class method has not been presented.

Business Combinations

Business Combinations	9 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
Business Combinations	5. Business Combinations Hawk Parent Holdings LLC Thunder Bridge and Hawk Parent entered into the Merger Agreement effective as of January 21, 2019 and announced consummation of the transactions contemplated by the Merger Agreement on July 11, 2019. Pursuant to the terms and subject to the conditions set forth in the Merger Agreement, at the closing of the transaction (the “Closing”), (a) Thunder Bridge effected the domestication to become a Delaware corporation and (b) a wholly-owned subsidiary of Thunder Bridge merged with and into Hawk Parent, with Hawk Parent continuing as the surviving entity and becoming a subsidiary of the Company (with Thunder Bridge receiving membership interests in Hawk Parent as the surviving entity and becoming the managing member of the surviving entity). At the effective time of the Business Combination, Thunder Bridge changed its corporate name to “Repay Holdings Corporation” and all outstanding securities of Hawk Parent converted into the right to receive the consideration specified in the Merger Agreement. Each member of Hawk Parent received in exchange for their limited liability interests (i) one share of Class V common stock of the Company and (ii) a pro rata share of (A) non-voting limited liability units of Hawk Parent as the surviving entity, referred to as Post-Merger Repay Units, (B) certain cash consideration, and (C) the contingent right to receive certain additional Post-Merger Repay Units issued as an earn-out under the Merger Agreement after the Closing (“Earn-Out Units”). Shares of Class A common stock of the Company will provide the holder with voting and economic rights with respect to the Company as a holder of common stock. Each share of Class V common stock of the Company entitles the holder to vote as a stockholder of the Company, with the number of votes equal to the number of Post-Merger Repay Units held by the holder but provides no economic rights to the holder. Pursuant to the terms of the Exchange Agreement, each holder of a Post-Merger Repay Unit is entitled to exchange such unit for one share of Class A common stock of the Company. The amount of cash consideration paid to selling Hawk Parent members at the Closing was equal to the following: (i) the total cash and cash equivalents of Thunder Bridge (including funds in its trust account after the redemption of its public stockholders and the proceeds of any debt or equity financing), minus plus minus minus minus minus minus minus minus Pursuant to the TRA, the Company will pay to exchanging holders of Post-Merger Repay Units 100% of the tax savings that the Company realizes as a result of increases in tax basis in the Company’s assets as a result of the exchange of the Post-Merger Repay Units for shares of Class A common stock pursuant to the Exchange Agreement between the Company and the Class A unit holders of Hawk Parent Holdings LLC, excluding the Company, dated as of July 11, 2019, and certain other tax attributes of Repay and tax benefits related to entering into the TRA, including tax benefits attributable to payments under the TRA. Hawk Parent constitutes a business, with inputs, processes, and outputs. Accordingly, the Business Combination constitutes the acquisition of a business for purposes of ASC 805 and, due to the changes in control from the Business Combination, is accounted for using the acquisition method. Under the acquisition method, the acquisition date fair value of the gross consideration paid by Thunder Bridge to close the Business Combination was allocated to the assets acquired and the liabilities assumed based on their estimated fair values. The following summarizes the purchase consideration paid to the selling members of Hawk Parent: Cash Consideration $ 260,811,062 Unit Consideration (1) 220,452,964 Contingent consideration (2) 12,300,000 Tax receivable agreement liability (3) 65,537,761 Net working capital adjustment (396,737 ) Total purchase price $ 558,705,050 (1) (2) (3) Represents liability with an estimated fair value of $ 65.5 million as a result of the TRA. If all the Post-Merger Repay Units are ultimately exchanged, the liability will significantly increase based on a variety of factors present at the time of exchange including, but not limited to, the market price at the time of the exchange. If the Company were to elect to terminate the Tax Receivable Agreement early, the Company would be required to make an immediate cash payment equal to the present value of the anticipated future tax benefits that are the subject of the Tax Receivable Agreement, which payment may be made significantly in advance of the actual realization, if any, of such future tax benefits. The Company recorded an allocation of the purchase price to Hawk Parent’s tangible and identifiable intangible assets acquired and liabilities assumed based on their fair values as of the July 11, 2019 closing date. The final purchase price allocation is as follows: Cash and cash equivalents $ 11,281,078 Accounts receivable 10,593,867 Prepaid expenses and other current assets 890,745 Total current assets 22,765,690 Property, plant and equipment, net 1,167,872 Restricted cash 6,930,434 Identifiable intangible assets 301,000,000 Total identifiable assets acquired 331,863,996 Accounts payable (4,206,413 ) Accrued expenses (8,831,363 ) Accrued employee payments (6,501,123 ) Other liabilities (16,864 ) Repay debt assumed (93,514,583 ) Net identifiable assets acquired 218,793,650 Goodwill 339,911,400 Total purchase price $ 558,705,050 The values allocated to identifiable intangible assets and their estimated useful lives are as follows: Fair Value Useful life Identifiable intangible assets (in millions) (in years) Non-compete agreements $ 3.0 2 Trade names 20.0 Indefinite Developed technology 65.0 3 Merchant relationships 210.0 10 Channel relationships 3.0 10 $ 301.0 Goodwill, $339.9 million, represents the excess of the gross consideration transferred over the fair value of the underlying net tangible and identifiable intangible assets acquired. Qualitative factors that contribute to the recognition of goodwill include certain intangible assets that are not recognized as separate identifiable intangible assets apart from goodwill. Intangible assets not recognized apart from goodwill consist primarily of the strong market position and the assembled workforce of Hawk Parent. TriSource Solutions, LLC On August 13, 2019, the Company acquired all of the ownership interests of TriSource. Under the terms of the Securities Purchase Agreement, between Repay Holdings, LLC and the direct and indirect owners of TriSource, as of August 13, 2019 (the “TriSource Purchase Agreement”), the aggregate consideration paid at closing by Repay was approximately $60.2 million in cash. In addition to the closing consideration, the TriSource Purchase Agreement contains a performance based earnout based on future results of the acquired business, which have result ed in an additional payment to the former owners of TriSource of up to $ 5.0 million. The TriSource a cquisition was financed with a combination of cash on hand and committed borrowing capacity under the Company’s existing credit facility. The TriSource Purchase Agreement contains customary representations, warranties and covenants by the Company and the former owners of TriSource, as well as a customary post-closing adjustment provision relating to working capital and similar items. The following summarizes the purchase consideration paid to the selling members of TriSource: Cash Consideration $ 60,235,090 Contingent consideration (1) 2,250,000 Total purchase price $ 62,485,090 ( 1 ) The Company recorded an allocation of the purchase price to TriSource’s tangible and identifiable intangible assets acquired and liabilities assumed based on their fair values as of the August 13, 2019 closing date. The final purchase price allocation is as follows: Cash and cash equivalents $ 383,236 Accounts receivable 2,290,441 Prepaid expenses and other current assets 95,763 Total current assets 2,769,440 Property, plant and equipment, net 215,739 Restricted cash 509,019 Identifiable intangible assets 30,500,000 Total identifiable assets acquired 33,994,198 Accounts payable (1,621,252 ) Accrued expenses (756,117 ) Net identifiable assets acquired 31,616,829 Goodwill 30,868,261 Total purchase price $ 62,485,090 The values allocated to identifiable intangible assets and their estimated useful lives are as follows: Fair Value Useful life Identifiable intangible assets (in millions) (in years) Non-compete agreements $ 0.4 5 Trade names 0.7 Indefinite Developed technology 3.9 3 Merchant relationships 25.5 10 $ 30.5 Goodwill, $30.9 million, represents the excess of the gross consideration transferred over the fair value of the underlying net tangible and identifiable intangible assets acquired. Qualitative factors that contribute to the recognition of goodwill include certain intangible assets that are not recognized as separate identifiable intangible assets apart from goodwill. Intangible assets not recognized apart from goodwill consist primarily of the strong market position and the assembled workforce of TriSource. APS Payments On October 14, 2019, the Company acquired substantially all of the assets of APS Payments (“APS”) for $30.5 million in cash. In addition to the $30.5 million cash consideration, which includes the net working capital adjustment settled for the three months ended June 30, 2020, the APS selling equity holders may be entitled to a total of $30.0 million in three separate cash earnout payments (“APS Earnout”), dependent on the achievement of certain growth targets. The asset purchase agreement between Repay and APS (“APS Purchase Agreement”) contains customary representations, warranties and covenants by Repay and the former owners of APS, as well as a customary post-closing adjustment provision relating to working capital and similar items. The following summarizes the purchase consideration paid to the selling members of APS: Cash consideration $ 30,465,454 Contingent consideration (1) 18,580,549 Total purchase price $ 49,046,003 (1) The Company recorded an allocation of the purchase price to APS Payments’ tangible and identifiable intangible assets acquired and liabilities assumed based on their fair values as of the October 11, 2019 closing date. The final purchase price allocation is as follows: Cash and cash equivalents $ - Accounts receivable 1,963,177 Prepaid expenses and other current assets 67,158 Total current assets 2,030,335 Property, plant and equipment, net 159,553 Restricted cash 549,978 Identifiable intangible assets 21,500,000 Total identifiable assets acquired 24,239,866 Accounts payable (1,101,706 ) Accrued expenses (19,018 ) Net identifiable assets acquired 23,119,142 Goodwill 25,926,861 Total purchase price $ 49,046,003 The values allocated to identifiable intangible assets and their estimated useful lives are as follows: Fair Value Useful life Identifiable intangible assets (in millions) (in years) Non-compete agreements $ 0.5 5 Trade names 0.5 Indefinite Merchant relationships 20.5 9 $ 21.5 Goodwill of $25.9 million, represents the excess of the gross consideration transferred over the fair value of the underlying net tangible and identifiable intangible assets acquired. Qualitative factors that contribute to the recognition of goodwill include certain intangible assets that are not recognized as separate identifiable intangible assets apart from goodwill. Intangible assets not recognized apart from goodwill consist primarily of the strong market position and the assembled workforce of APS Payments. Ventanex On February 10, 2020, the Company acquired all of the ownership interests of CDT Technologies, LTD d/b/a Ventanex (“Ventanex”). The following summarizes the preliminary purchase consideration paid to the selling members of Ventanex: Cash consideration $ 35,939,129 Contingent consideration (1) 4,800,000 Total purchase price $ 40,739,129 (1) The Company recorded a preliminary allocation of the purchase price to Ventanex’s tangible and identifiable intangible assets acquired and liabilities assumed based on their fair values as of the February 10, 2020 closing date. The preliminary purchase price allocation is as follows: Cash and cash equivalents $ 50,663 Accounts receivable 1,376,539 Prepaid expenses and other current assets 180,514 Total current assets 1,607,716 Property, plant and equipment, net 137,833 Restricted cash 428,313 Identifiable intangible assets 26,890,000 Total identifiable assets acquired 29,063,862 Accounts payable (152,035 ) Accrued expenses (373,159 ) Net identifiable assets acquired 28,538,668 Goodwill 12,200,461 Total purchase price $ 40,739,129 The preliminary values allocated to identifiable intangible assets and their estimated useful lives are as follows: Fair Value Useful life Identifiable intangible assets (in millions) (in years) Non-compete agreements $ 0.1 5 Trade names 0.4 Indefinite Developed technology 4.1 3 Merchant relationships 22.3 10 $ 26.9 Goodwill of $12.2 million, represents the excess of the gross consideration transferred over the fair value of the underlying net tangible and identifiable intangible assets acquired. Qualitative factors that contribute to the recognition of goodwill include certain intangible assets that are not recognized as separate identifiable intangible assets apart from goodwill. Intangible assets not recognized apart from goodwill consist primarily of the strong market position and the assembled workforce of Ventanex. cPayPlus On July 23, 2020, the Company acquired all of the ownership interests of cPayPlus. Under the terms of the securities purchase agreement between Repay Holdings, LLC and the direct and indirect owners of cPayPlus. (“cPayPlus Purchase Agreement”), the aggregate consideration paid at closing by the Company was approximately $8 million in cash. In addition to the closing consideration, the cPayPlus Purchase Agreement contains a performance-based earnout (the “cPayPlus Earnout Payment”), which was based on future results of the acquired business and could result in an additional payment to the former owners of cPayPlus of up to $8 million in the third quarter of 2021. The cPayPlus acquisition was financed with cash on hand. The cPayPlus Purchase Agreement contains customary representations, warranties and covenants by Repay and the former owners of cPayPlus, as well as a customary post-closing adjustment provision relating to working capital and similar items. The following summarizes the preliminary purchase consideration paid to the selling members of cPayPlus: Cash consideration $ 7,846,959 Contingent consideration (1) 6,500,000 Total purchase price $ 14,346,959 (1) The Company recorded a preliminary allocation of the purchase price to cPayPlus’s tangible and identifiable intangible assets acquired and liabilities assumed based on their fair values as of the July 23, 2020 closing date. The preliminary purchase price allocation is as follows: Cash and cash equivalents $ 262,331 Accounts receivable 164,789 Prepaid expenses and other current assets 37,660 Total current assets 464,780 Property, plant and equipment, net 20,976 Identifiable intangible assets 7,720,000 Total identifiable assets acquired 8,205,756 Accounts payable (99,046 ) Accrued expenses (363,393 ) Net identifiable assets acquired 7,743,317 Goodwill 6,603,642 Total purchase price $ 14,346,959 The preliminary values allocated to identifiable intangible assets and their estimated useful lives are as follows: Fair Value Useful life Identifiable intangible assets (in millions) (in years) Non-compete agreements $ 0.1 5 Trade names 0.1 Indefinite Developed technology 6.7 3 Merchant relationships 0.9 10 $ 7.7 Goodwill of $6.6 million, represents the excess of the gross consideration transferred over the fair value of the underlying net tangible and identifiable intangible assets acquired. Qualitative factors that contribute to the recognition of goodwill include certain intangible assets that are not recognized as separate identifiable intangible assets apart from goodwill. Intangible assets not recognized apart from goodwill consist primarily of the strong market position and the assembled workforce of cPayPlus. The Company incurred transaction expenses of $1.4 million and $3.5 million for the three and nine months ended September 30, 2020, respectively, related to the APS, Ventanex and cPayPlus acquisitions. cPayPlus has contributed $0.4 million to revenue and $0.0 million in net income to the Company’s unaudited interim consolidated statement of operations, from July 23, 2020 through September 30, 2020. Ventanex has contributed $3.2 million to revenue and $0.5 million in net income to the Company’s unaudited interim consolidated statement of operations, for the three months ended September 30, 2020. Ventanex has contributed $7.6 million to revenue and $0.5 million in net income to the Company’s unaudited interim consolidated statement of operations, from February 10, 2020 through September 30, 2020. APS contributed $3.3 million to revenue and $0.6 million in net loss to the Company’s unaudited interim consolidated statement of operations for the three months ended September 30, 2020. APS contributed $10.4 million to revenue and $0.3 million in net income to the Company’s unaudited interim consolidated statement of operations for the nine months ended September 30, 2020. TriSource, previously acquired on August 14, 2019, contributed $8.3 million to revenue and $1.7 million in net income to the Company’s unaudited interim consolidated statement of operations for the three months ended September 30, 2020. TriSource contributed $23.1 million to revenue and $4.0 million in net income to the Company’s unaudited interim consolidated statement of operations for the nine months ended September 30, 2020. Pro Forma Financial Information (Unaudited) The supplemental condensed consolidated results of the Company on an unaudited pro forma basis give effect to the Business Combination as well as the TriSource, APS, Ventanex, and cPayPlus acquisitions as if the transactions had occurred on January 1, 2019. The unaudited pro forma information reflects adjustments for the issuance of the Company’s common stock, debt incurred in connection with the transactions, the impact of the fair value of intangible assets acquired and related amortization and other adjustments the Company believes are reasonable for the pro forma presentation. In addition, the pro forma earnings exclude acquisition-related costs. Pro Forma Three Months Ended September 30, 2020 Pro Forma Nine Months Ended September 30, 2020 Pro Forma Three Months Ended September 30, 2019 Pro Forma Nine Months Ended September 30, 2019 Revenue $ 37,712,710 $ 116,540,354 $ 36,744,774 $ 107,403,501 Net loss (14,874,500 ) (37,361,006 ) (57,562,188 ) (71,546,277 ) Net loss attributable to non-controlling interests (3,855,178 ) (13,377,656 ) (23,450,835 ) (29,147,953 ) Net loss attributable to the Company (11,019,322 ) (23,983,350 ) (34,111,353 ) (42,398,324 ) Loss per Class A share - basic and diluted $ (0.19 ) $ (0.70 ) $ (0.59 ) $ (1.24 )

Fair Value

Fair Value	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value	6. Fair Value The following table summarizes, by level within the fair value hierarchy, the carrying amounts and estimated fair values of the Company’s assets and liabilities measured at fair value on a recurring or nonrecurring basis or disclosed, but not carried, at fair value in the Consolidated Balance Sheets as of the dates presented. There were no transfers into, out of, or between levels within the fair value hierarchy during any of the periods presented. Refer to Note 5, Note 10 and Note 11 for additional information on these liabilities. September 30, 2020 Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 182,290,497 $ — $ — $ 182,290,497 Restricted cash 10,388,388 — — 10,388,388 Total assets $ 192,678,885 $ — $ — $ 192,678,885 Liabilities: Contingent consideration $ — $ — $ 14,800,000 $ 14,800,000 Borrowings — 258,067,855 — 258,067,855 Tax receivable agreement — — 222,900,327 222,900,327 Interest rate swap — 10,131,735 — 10,131,735 Total liabilities $ — $ 268,199,590 $ 237,700,327 $ 505,899,917 December 31, 2019 Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 24,617,996 $ — $ — $ 24,617,996 Restricted cash 13,283,121 — — 13,283,121 Interest rate swap — 555,449 — 555,449 Total assets $ 37,901,117 $ 555,449 $ — $ 38,456,566 Liabilities: Contingent consideration $ — $ — $ 14,250,000 $ 14,250,000 Borrowings — 213,908,388 — 213,908,388 Tax receivable agreement — — 67,176,226 67,176,226 Total liabilities $ — $ 213,908,388 $ 81,426,226 $ 295,334,614 Cash and cash equivalents Cash and cash equivalents are classified within Level 1 of the fair value hierarchy, under ASC 820, Fair Value Measurements Contingent Consideration Contingent consideration relates to potential payments that the Company may be required to make associated with acquisitions. The contingent consideration is recorded at fair value based on estimates of discounted future cash flows associated with the acquired businesses. To the extent that the valuation of these liabilities is based on inputs that are less observable or not observable in the market, the determination of fair value requires more judgment. Accordingly, the fair value of contingent consideration is classified within Level 3 of the fair value hierarchy, under ASC 820. The change in fair value is re-measured at each reporting period with the change in fair value being recognized in accordance with ASC 805, Business Combinations The Company used a discount rate to determine the present value, based on a risk-free rate adjusted for a credit spread, of the contingent consideration in the simulation approach. A range of 6.8% to 8.0% and weighted average of 7.0% was applied to the simulated contingent consideration payments, in order to determine the fair value. A significant increase or decrease in the discount rate could have resulted in a lower or higher balance, respectively, as of the measurement date. The following table provides a rollforward of the contingent consideration related to previous business acquisitions. Refer to Note 5 for more details. Nine Months Ended September 30, 2020 From July 11, 2019 to September 30, 2019 From January 1, 2019 to July 10, 2019 (Successor) (Predecessor) Balance at beginning of period $ 14,250,000 $ - $ 1,816,988 Purchases 11,300,000 14,550,000 — Payments (14,320,549 ) — (1,816,988 ) Accretion expense — — — Valuation adjustment 3,570,549 — — Balance at end of period $ 14,800,000 $ 14,550,000 $ — Term loan The carrying value of the Company’s term loan is net of unamortized debt discount and debt issuance costs. The fair value of the Company’s term loan was determined using a discounted cash flow model based on observable market factors, such as changes in credit spreads for comparable benchmark companies and credit factors specific to us. The fair value of Company’s term loan is classified within Level 2 of the fair value hierarchy, as the inputs to the discounted cash flow model are generally observable and do not contain a high level of subjectivity. Tax Receivable Agreement Upon the completion of the Business Combination, the Company entered into the Tax Receivable Agreement (the “TRA”) with holders of Post-Merger Repay Units. As a result of the TRA, the Company established a liability in its consolidated financial statements. The TRA is recorded at fair value based on estimates of discounted future cash flows associated with the estimated payments to the Post-Merger Repay Unit holders. These inputs are not observable in the market; thus, the TRA is classified within Level 3 of the fair value hierarchy, under ASC 820. The change in fair value is re-measured at each reporting period with the change in fair value being recognized in accordance with ASC 805. The Company used a discount rate to determine the present value, based on a risk-free rate plus a spread, pursuant to the TRA. A rate of 1.36% was applied to the forecasted TRA payments at September 30, 2020, in order to determine the fair value. A significant increase or decrease in the discount rate could have resulted in a lower or higher balance, respectively, as of the measurement date. The TRA balance increased $12.1 million through accretion expense and a valuation adjustment, related to a decrease in the discount rate, which was 3.00%, as of December 31, 2019. The following table provides a rollforward of the TRA related to the Business Combination and subsequent acquisition of Post-Merger Repay Units held by Corsair, pursuant to the Unit Purchase Agreements. See Note 15 for further discussion on the TRA. Nine Months Ended September 30, 2020 From July 11, 2019 to September 30, 2019 From January 1, 2019 to July 10, 2019 (Successor) (Predecessor) Balance at beginning of period $ 67,176,226 $ — $ — Purchases 143,668,304 65,886,701 — Payments — — — Accretion expense 2,571,460 — — Valuation adjustment 9,484,337 — — Balance at end of period $ 222,900,327 $ 65,886,701 $ — Interest rate swap In October 2019, the Company entered into a $140.0 million notional, fifty-seven month interest rate swap agreement, and in February 2020, the Company entered into a $30.0 million notional, sixty month interest rate swap agreement. These interest rate swap agreements are to hedge changes in its cash flows attributable to interest rate risk on a combined $ 170.0 million of Company’s variable-rate term loan to a fixed-rate basis, thus reducing the impact of interest rate changes on future interest expense. These swaps involve the receipt of variable-rate amounts in exchange for fixed interest rate payments over the lives of the agreements without an exchange of the underlying notional amounts and were designated for accounting purposes as cash flow hedges. The interest rate swaps are carried at fair value on a recurring basis in the Consolidated Balance Sheets and are classified within Level 2 of the fair value hierarchy, as the inputs to the derivative pricing model are generally observable and do not contain a high level of subjectivity. The fair value was determined based on the present value of the estimated future net cash flows using implied rates in the applicable yield curve as of the valuation date.

Property and Equipment

Property and Equipment	9 Months Ended
	Sep. 30, 2020
Property Plant And Equipment [Abstract]
Property and Equipment	7. Property and Equipment Property and equipment consisted of the following: September 30, December 31, 2020 2019 Furniture, fixtures, and office equipment $ 1,074,008 $ 944,105 Computers 1,577,939 859,426 Leasehold improvements 335,517 223,145 Total 2,987,464 2,026,676 Less: Accumulated depreciation and amortization 1,278,733 416,024 $ 1,708,731 $ 1,610,652 Depreciation expense for property and equipment was $0.3 million, $0.9 million, and $0.2 million for the three and nine months ended September 30, 2020 and the period from July 11, 2019 to September 30, 2019, respectively. Depreciation expense was $0.0 million and $0.3 million for the Predecessor periods from July 1, 2019 to July 10, 2019 and January 1, 2019 to July 10, 2019, respectively.

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets	8. Intangible Assets The Company holds definite and indefinite-lived intangible assets. As of September 30, 2020, the indefinite-lived intangible assets consist of trade names of $21.7 million, and this balance consists of five trade names, arising from the acquisitions of Hawk Parent, TriSource, APS, Ventanex, and cPayPlus in the Successor period from July 11, 2019 to September 30, 2020. As of December 31, 2019, the indefinite-lived intangible assets consist of trade names of $21.2 million, and this balance consists of three trade names, arising from the acquisitions of Hawk Parent, TriSource and APS in the Successor period from July 11, 2019 to December 31, 2019. Definite-lived intangible assets consisted of the following: Gross Carrying Value Accumulated Amortization Net Carrying Value Weighted Average Useful Life (Years) Customer relationships $ 279,150,000 $ 32,171,968 $ 246,978,032 8.75 Channel relationships 3,000,000 366,935 2,633,065 8.78 Software costs 93,885,253 31,817,917 62,067,336 1.78 Non-compete agreements 4,080,000 2,083,416 1,996,584 1.55 Balance as of September 30, 2020 $ 380,115,253 $ 66,440,236 $ 313,675,017 6.95 Customer relationships $ 256,000,000 $ 11,393,825 $ 244,606,175 9.48 Channel relationships 3,000,000 141,935 2,858,065 9.53 Software costs 72,290,752 11,080,696 61,210,056 2.54 Non-compete agreements 3,900,000 733,495 3,166,505 2.28 Balance as of December 31, 2019 $ 335,190,752 $ 23,349,951 $ 311,840,801 7.90 The Company’s amortization expense for intangible assets was $15.1 million, $43.2 million, and $10.5 million for the three and nine months ended September 30, 2020 and the period from July 11, 2019 to September 30, 2019, respectively. Amortization expense was $0.3 million and $5.9 million for the Predecessor periods from July 1, 2019 to July 10, 2019 and January 1, 2019 to July 10, 2019, respectively. The estimated amortization expense for the next five years and thereafter in the aggregate is as follows: Year Ending December 31, Estimated Future Amortization Expense 2020 $ 15,409,158 2021 62,455,180 2022 51,959,290 2023 28,555,778 2024 28,564,200 2025 28,357,778 Thereafter 98,373,633

Goodwill

Goodwill	9 Months Ended
	Sep. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	9. Goodwill The following table presents changes to goodwill for the nine months ended September 30, 2020 and 2019. Total Balance at December 31, 2019 $ 389,660,519 Acquisitions 18,804,103 Dispositions — Impairment Loss — Measurement period adjustment 7,046,003 Balance at September 30, 2020 $ 415,510,625 Balance as of December 31, 2018 (Predecessor) $ 119,529,202 Acquisitions 251,250,459 Dispositions — Impairment Loss — Measurement period adjustment — Balance as of September 30, 2019 (Successor) $ 370,779,661 The Company has only one operating segment and, based on the criteria outlined in ASC 350, Intangibles – Goodwill and Other

Borrowings

Borrowings	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Borrowings	10. Borrowings Prior Credit Agreement Hawk Parent (the “Predecessor”) entered into a Revolving Credit and Term Loan Agreement (the “Prior Credit Agreement”), with SunTrust Bank and the other lenders party thereto on September 28, 2017, as amended December 15, 2017, which included a revolving loan component, a term loan and a delayed draw term loan. The Prior Credit Agreement was collateralized by substantially all of the assets of the Predecessor, based on the Prior Credit Agreement’s collateral documents, and it included restrictive qualitative and quantitative covenants, as defined in the Prior Credit Agreement. The Prior Credit Agreement provided for a maximum $10.0 million revolving loan at a variable interest rate. This facility was terminated upon the closing of the Business Combination and execution of the New Credit Agreement (defined below). Interest expense on the line of credit totaled $7,144 and $107,032 for the Predecessor periods from July 1, 2019 to July 10, 2019 and January 1, 2019 to July 10, 2019, respectively. New Credit Agreement, as Amended The Company entered into a Revolving Credit and Term Loan Agreement (as amended the “New Credit Agreement”) on July 11, 2019, with Truist Bank (formerly SunTrust Bank) and the other lenders party thereto, which provided a revolving credit facility (the “Revolving Credit Facility”), a term loan A (the “Term Loan”), and a delayed draw term loan at a variable interest rate (3.65% at September 30, 2020) (the “Delayed Draw Term Loan”). The New Credit Agreement provided for an aggregate revolving commitment of $20.0 million at a variable interest rate. On February 10, 2020, as part of the financing for the acquisition of Ventanex, Repay entered into an agreement with Truist Bank and other members of its existing bank group to amend and upsize its previous credit agreement from $230.0 The New Credit Agreement is collateralized by substantially all of the Company’s assets, and includes restrictive qualitative and quantitative covenants, as defined in the New Credit Agreement. The Company was in compliance with its restrictive covenants under the New Credit Agreement at September 30, 2020. The New Credit Agreement provides for a Term Loan of $255.0 million, a Delayed Draw Term Loan of $60.0 million, and a Revolving Credit Facility of $30.0 million. As of September 30, 2020, the Company had $14.4 million drawn against the Delayed Draw Term Loan and had $0.0 million drawn against the Revolving Credit Facility. The Company paid $96,567 and $231,168 in fees related to unused commitments for the three and nine months ended September 30, 2020, respectively. The Company’s interest expense on the line of credit totaled $0 and $62,008 for the three and nine months ended September 30, 2020, respectively. At September 30, 2020 and December 31, 2019, total borrowings under the New Credit Agreement consisted of the following, respectively: September 30, 2020 December 31, 2019 Non-current indebtedness: Term Loan $ 264,369,659 $ 208,937,500 Revolving Credit Facility — 10,000,000 Total borrowings under credit facility (1) 264,369,659 218,937,500 Less: Current maturities of long-term debt (2) 6,760,650 5,500,000 Less: Long-term loan debt issuance cost (3) 6,301,804 5,494,795 Total non-current borrowings $ 251,307,205 $ 207,942,705 (1) The Term Loan, Delayed Draw Term Loan and Revolving Credit Facility bear interest, at variable rates, which were 3.65% and 5.26% at September 30, 2020 and December 31, 2019, respectively (2) Pursuant to the terms of the New Credit Agreement, the Company is required to make quarterly principal payments equal to 0.625 % of the initial principal amount of the Term Loan and Delayed Draw Term Loan (collectively the “Term Loans”). (3) The Company incurred $0.4 million, $1.1 million, and $0.2 million of interest expense for the amortization of deferred debt issuance costs for the three and nine months ended September 30, 2020 and the period from July 11, 2019 to September 30, 2019, respectively. The Predecessor incurred $0.0 million and $0.2 million for the periods from July 1, 2019 to July 10, 2019 and January 1, 2019 to July 10, 2019 respectively. Following is a summary of principal maturities of long‑term debt for each of the next five years ending December 31 and in the aggregate: 2020 $ 1,690,162 2021 6,760,650 2022 13,250,812 2023 19,561,462 2024 20,056,949 2025 203,049,624 $ 264,369,659 The Company incurred interest expense on the Term Loans of $2.6 million, $9.0 million, and $2.5 million for the three and nine months ended September 30, 2020 and the period from July 11, 2019 to September 30, 2019, respectively. The Predecessor incurred interest expense of $0.2 million and $2.8 million for the periods from July 1, 2019 to July 10, 2019 and January 1, 2019 to July 10, 2019, respectively.

Derivative Instruments

Derivative Instruments	9 Months Ended
	Sep. 30, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Instruments	11. Derivative Instruments The Company does not hold or use derivative instruments for trading purposes. Derivative Instruments Designated as Hedges Interest rate fluctuations expose the Company’s variable-rate term loan to changes in interest expense and cash flows. As part of its risk management strategy, the Company may use interest rate derivatives, such as interest rate swaps, to manage its exposure to interest rate movements. In October 2019, the Company entered into a $140.0 million notional, five-year On February 21, 2020, the Company entered into a swap transaction with Regions Bank. On a quarterly basis, commencing on March 31, 2020 up to and including the termination date of February 10, 2025, the Company will make fixed payments on a beginning notional amount of $30.0 million. On a quarterly basis, commencing on February 21, 2020 up to and including the termination date of February 10, 2025, the counterparty will make floating rate payments based on the 3-month LIBOR on the beginning notional amount of $30.0 million. Both of these interest rate swaps are considered an effective hedge, as of September 30, 2020. Changes in fair value are included in other comprehensive income (loss). As of September 30, 2020, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk. Notional Amount Fixed Interest Rate Termination Date Interest rate swap $ 140,000,000 1.598% July 11, 2024 Interest rate swap $ 30,000,000 1.331% February 10, 2025

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	12. Commitments and Contingencies The Company is committed under various operating leases for buildings with varying expiration dates. Future minimum lease payments under non-cancelable operating leases as of September 30, 2020, are as follows: Year Ended Amounts 2020 $ 313,357 2021 1,104,876 2022 775,983 2023 394,081 2024 81,149 Thereafter - $ 2,669,446

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2020
Related Party Transactions [Abstract]
Related Party Transactions	13. Related Party Transactions Related party payables consisted of the following: September 30, December 31, 2020 2019 TriSource accrued earnout liability $ 4,000,000 $ 2,250,000 APS Payments accrued earnout liability - 12,250,000 Ventanex accrued earnout liability 4,300,000 - cPayPlus accrued earnout liability 6,500,000 - Other payables to related parties 96,246 71,266 $ 14,896,246 $ 14,571,266 The Predecessor paid management fees to Corsair, a related party having common ownership in the amount of $0.0 million and $0.2 million for the periods from July 1, 2019 to July 10, 2019 and January 1, 2019, to July 10, 2019, respectively, which are included in selling, general, and administrative expenses in the unaudited interim consolidated statement of operations. The Company incurred transaction costs on behalf of related parties of $0.9 million, $1.9 million, and

Share Based Compensation

Share Based Compensation	9 Months Ended
	Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share Based Compensation	14. Share Based Compensation Omnibus Incentive Plan At the 2019 Annual Shareholders Meeting of Thunder Bridge, the shareholders considered and approved the 2019 Omnibus Incentive Plan (the “2019 Equity Incentive Plan”) which resulted in the reservation of 7,326,728 shares of common stock for issuance thereunder. The 2019 Equity Incentive Plan became effective immediately upon the closing of the Business Combination. Under this plan, the Company currently has two types of share-based compensation awards outstanding: restricted stock awards (“RSAs”) and restricted stock units (“RSUs”). Activities for the nine months ended September 30, 2020 and the period from July 11, 2019 to September 30, 2019 are as follows: Class A Common Stock Weighted Average Grant Date Fair Value Unvested at December 31, 2019 1,818,675 $ 12.39 Granted 1,148,844 17.36 Forfeited (1) (2) 47,847 13.56 Vested 501,818 12.01 Unvested at September 30, 2020 2,417,854 $ 23.33 Unvested at July 11, 2019 — $ — Granted 3,000,229 11.73 Forfeited (2) 152,976 11.82 Vested 575,301 11.64 Unvested at September 30, 2019 2,271,952 $ 11.75 (1) The forfeited shares include employee terminations during the nine months ended September 30, 2020; further, these forfeited shares are added back to the amount of shares available for grant under the 2019 Equity Incentive Plan. (2) Upon vesting, award-holders elected to sell shares to the Company in order to satisfy the associated tax obligations. The awards are not deemed outstanding; further, these forfeited shares are added back to the amount of shares available for grant under the 2019 Equity Incentive Plan. Unrecognized compensation expense related to unvested RSAs and RSUs was $22.8 million at September 30, 2020, which is expected to be recognized as expense over the weighted-average period of 2.79 years. Unrecognized compensation expense related to unvested RSAs and RSUs was $25 million at September 30, 2019, which is expected to be recognized as expense over the weighted-average period of 5.35 years. The Company incurred $5.8 million, $14.8 million, and $9.8 from July 11, 2019 to September 30, 2019, respectively Original Equity Incentives As a result of the change in ownership of Hawk Parent, 9,171 previously unvested profit interest units of the Predecessor with a weighted average grant date fair value of $180.87 were automatically vested, upon the closing of the Business Combination. A summary of the changes in non-vested units outstanding for the period from January 1, 2019 to July 10, 2019 is presented below: Units Weighted average fair value per unit Non-vested units at January 1, 2019 9,460 $ 182.83 Activity during the period: Granted — — Vested (9,460 ) (182.83 ) Non-vested units at July 10, 2019 — $ — During the periods from July 1, 2019 to July 10, 2019 and January 1, 2019 to July 10, 2019,

Taxation

Taxation	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Taxation	15. Taxation Repay Holdings Corporation is taxed as a corporation and is subject to paying corporate federal, state and local taxes on the income allocated to it from Hawk Parent, based upon Repay Holding Corporation’s economic interest held in Hawk Parent, as well as any stand-alone income or loss it generates. Hawk Parent is treated as a partnership for U.S. federal and most applicable state and local income tax purposes. As a partnership, Hawk Parent is not subject to U.S. federal and certain state and local income taxes. Hawk Parent’s members, including Repay Holdings Corporation, are liable for federal, state and local income taxes based on their allocable share of Hawk Parent’s pass-through taxable income. The Company’s effective tax rate was 18.6%, 18.3%, and 14.6% for the three and nine months ended September 30, 2020 and the period from July 11, 2019 to September 30, 2019, respectively. The Company recorded an income tax benefit of $3.4 million, $8.4 million, and $2.7 million for the three and nine months ended September 30, 2020 and the period from July 11, 2019 to September 30, 2019, respectively. The Company’s effective tax rates for the three and nine months ended September 30, 2020 and the period from July 11, 2019 to September 30, 2019 was less than its combined federal and state statutory tax rate of 24%, primarily due to the Company not being liable for income taxes on the portion of Hawk Parent’s earnings that are attributable to non-controlling interests. The results for the Predecessor do not reflect income tax expense because, prior to the closing of the Business Combination, the consolidated Hawk Parent pass-through entity was not subject to corporate tax. The Company recognized $3.4 million, $8.4 million, and $2.7 million for the three and nine months ended September 30, 2020 and the period from July 11, 2019 to September 30, 2019, respectively, of deferred tax assets related to the income tax benefit derived from the net operating loss over the same periods. The Company did not recognize any changes to the valuation allowance as of September 30, 2020, and the facts and circumstances remain unchanged. Deferred tax assets, net of $128.3 million for the nine months ended September 30,2020, relates primarily to the basis difference in the Company’s investment in Hawk Parent. The basis difference arose primarily as a result of a subsequent purchase of Post-Merger Repay Units by the Company pursuant to the Unit Purchase Agreements and the subsequent exchanges of Post-Merger Repay Units for shares of the Company’s Class A common stock in accordance with the Exchange Agreement dated July 11, 2019. As a result of the Follow-on Offerings, warrant exercises and Post-Merger Repay Unit exchanges during the nine months ended September 30, 2020, the Company recognized an additional deferred tax asset (DTA) and offsetting deferred tax liability (DTL) in the amount of $23.0 million to account for the portion of the Company’s outside basis in the partnership interest that it will not recover through tax deductions, a ceiling rule limitation arising under Internal Revenue Code (the “Code”) sec. 704(c). As the ceiling rule causes taxable income allocations to be in excess of 704(b) book allocations the DTL will unwind, leaving only the DTA, which may only be recovered through the sale of the partnership interest in Hawk Parent. The Company has concluded, based on the weight of all positive and negative evidence, that all of the DTA associated with the ceiling rule limitation is not likely to be realized. As such, a 100% valuation allowance was recognized. No uncertain tax positions existed as of September 30, 2020. Tax Receivable Agreement Liability Pursuant to the Company’s election under Section 754 of the Code, the Company expects to obtain an increase in its share of the tax basis in the net assets of Hawk Parent when Post-Merger Repay Units are redeemed or exchanged for Class A common stock of Repay Holdings Corporation. The Company intends to treat any redemptions and exchanges of Post-Merger Repay Units as direct purchases for U.S. federal income tax purposes. These increases in tax basis may reduce the amounts that the Company would otherwise pay in the future to various tax authorities. They may also decrease gains (or increase losses) on future dispositions of certain capital assets to the extent tax basis is allocated to those capital assets. On July 11, 2019, the Company entered into a TRA that provides for the payment by the Company of 100% of the amount of any tax benefits realized, or in some cases are deemed to realize, as a result of (i) increases in its share of the tax basis in the net assets of Hawk Parent resulting from any redemptions or exchanges of Post-Merger Repay Units and from its acquisition of the equity of the selling Hawk Parent members, (ii) tax basis increases attributable to payments made under the TRA, and (iii) deductions attributable to imputed interest pursuant to the TRA (the “TRA Payments”). The TRA Payments are not conditioned upon any continued ownership interest in Hawk Parent or the Company. The rights of each party under the TRA other than the Company are assignable. The timing and amount of aggregate payments due under the TRA may vary based on a number of factors, including the timing and amount of taxable income generated by the Company each year, as well as the tax rate then applicable, among other factors. As of September 30, 2020, the Company had a liability of $222.9 million related to its projected obligations under the TRA, which is captioned as tax receivable agreement liability in the Company’s Unaudited Consolidated Balance Sheet. The increase in the TRA liability for the three and nine months ended September 30, 2020, was primarily a result of the Unit Purchase Agreements, pursuant to which the Company acquired 14,364,816 and 19,564,816 Post-Merger Repay Units held by Corsair, respectively. Additionally, other selling members of Hawk Parent exchanged 1,579,330 Post-Merger Repay Units in the three and nine months ended September 30, 2020. This resulted in an increase to the Company’s share of the tax basis in the net assets of Hawk Parent.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent events	16. Subsequent events Management has evaluated subsequent events and their potential effects on these unaudited consolidated financial statements through November 9, 2020, which is the date the unaudited consolidated financial statements were available to be issued. On October 27, 2020, the Company announced the acquisition of CPS Payment Services for up to $93 million, which includes up to $15 million in performance-based earnouts. The acquisition closed on November 2, 2020 and was financed with cash on hand. On November 5, 2020, the Company, Truist Bank (formerly SunTrust Bank) and other members of its existing bank group agreed to amend the Company’s existing credit facility in order to extend through August 2021 the availability period for the $60 million delayed draw term loan facility under the credit facility.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Unaudited Interim Financial Statements	Unaudited Interim Financial Statements These unaudited consolidated interim financial statements should be read in conjunction with the Company's audited consolidated financial statements and accompanying notes for the period ended December 31, 2019 and Hawk Parent audited consolidated financial statements and accompanying notes for the years ended December 31, 2018 and 2017, which are included in the Company’s Form 10-K for the year ended December 31, 2019, as amended. The accompanying unaudited consolidated interim financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and with instructions to Form 10-Q and Rule 10-01 of SEC Regulation S-X as they apply to interim financial information. Accordingly, the interim consolidated financial statements do not include all of the information and notes required by GAAP for complete financial statements, although the Company believes that the disclosures made are adequate to make the information not misleading. The interim consolidated financial statements are unaudited, but in the Company’s opinion include all adjustments that are necessary for a fair statement of financial position, operations and cash flows as of and for the periods presented. The interim financial results are not necessarily indicative of results that may be expected for any other interim period or the fiscal year.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of Repay Holdings Corporation, the majority-owned Hawk Parent Holdings LLC and its wholly owned subsidiaries: Hawk Intermediate Holdings, LLC, Hawk Buyer Holdings, LLC, Repay Holdings, LLC, M&A Ventures, LLC, Repay Management Holdco Inc., Repay Management Services LLC, Sigma Acquisition, LLC, Wildcat Acquisition, LLC (“PaidSuite”), Marlin Acquirer, LLC (“Paymaxx”), REPAY International LLC, REPAY Canada Solutions ULC, TriSource Solutions, LLC (“TriSource”), Mesa Acquirer, LLC, CDT Technologies LTD, Viking GP Holdings, LLC, and cPayPlus, LLC. All significant intercompany accounts and transactions have been eliminated in consolidation.
Basis of Financial Statement Presentation	Basis of Financial Statement Presentation The accompanying interim consolidated financial statements of the Company were prepared in accordance with GAAP. The Company uses the accrual basis of accounting whereby revenues are recognized when earned, usually upon the date services are rendered, and expenses are recognized at the date services are rendered or goods are received.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported consolidated statements of operations during the reporting period. Actual results could differ materially from those estimates.
Emerging Growth Company	Emerging Growth Company The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act of 1933, as amended, as modified by the Jumpstart Our Business Startups Act of 2012, and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, delay adopting new or revised accounting standards issued until such time as those standards apply to private companies, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. The Company expects that it will cease being an emerging growth company on December 31, 2020. As a result, the Company would no longer be eligible to delay adoption of such new or revised accounting pronouncements applicable to public companies.
Recent Accounting Pronouncements	Recently Adopted Accounting Pronouncements Fair Value Measurement In August 2018, the Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement, ASU 2018-13 is effective for the Company’s annual period beginning after December 15, 2019. The amendments on changes in unrealized gains and losses should be applied prospectively for only the most recent period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented on their effective date. After adopting ASU 2018-13, there was no material effect on the Company’s consolidated financial statements. Recently Issued Accounting Pronouncements not yet Adopted Leases In February 2016, the FASB issued ASU 2016‑02, Leases (Subtopic 842) The effective date of this ASU for emerging growth companies is for fiscal years beginning after December 15, 2020, and interim periods within fiscal years beginning after December 15, 202 1. The Company will adopt ASU 2016-02 and subsequent related ASUs on December 31, 2020, as a result of the Company’s expectation that it will cease being an emerging growth company on December 31, 2020, which will result in an increase in right-of-use assets and associated lease liabilities, arising from operating leases in which the Company is the lessee, on its Consolidated Balance Sheets. The amount of the right-of-use assets and associated lease liabilities recorded upon adoption will be based primarily on the present value of unpaid future minimum lease payments in effect at the date of adoption. As of September 30, 2020, the quantitative impacts of right-of-use-assets and associated lease liabilities are not yet reasonably estimated. The Company’s implementation efforts are ongoing, including the review of operating leases and related lease accounting policies. In conjunction with this implementation, the Company is evaluating potential changes to its control environment. Credit Losses In June 2016, the FASB issued ASU 2016-13, Measurement of Credit Losses on Financial Instruments The Company plans to adopt ASU 2016-13 on December 31, 2020, as a result of the Company’s expectation that it will cease being an emerging growth company on December 31, 2020. The Company is currently evaluating the impact of the adoption of this ASU and does not expect this ASU to have a material impact on its consolidated financial statements or related disclosures. Accounting for Income Taxes In December 2019, the FASB issued ASU No. 2019-12, " Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes Income Taxes (Topic 740)
Reclassification	Reclassification Certain amounts in the consolidated financial statements have been reclassified from their original presentation to conform to current year presentation. These reclassifications had no material impact on the consolidated financial statements as previously reported.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2020
Revenue From Contract With Customer [Abstract]
Summary of Disaggregation of Revenue	The table below presents a disaggregation of revenue by direct and indirect relationships for the periods indicated: Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 From July 11, 2019 to September 30, 2019 From July 1, 2019 to July 10, 2019 From January 1, 2019 to July 10, 2019 (Successor) (Predecessor) Revenue Direct relationships $ 37,088,404 $ 111,677,862 $ 23,432,825 $ 2,274,747 $ 45,693,961 Indirect relationships 546,133 1,919,737 493,649 59,090 1,348,956 Total Revenue $ 37,634,537 $ 113,597,599 $ 23,926,474 $ 2,333,837 $ 47,042,917

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Summary of Net Loss and Weighted Average Basic and Diluted Shares Outstanding	The following table summarizes net loss attributable to the Company and the weighted average basic and basic and diluted shares outstanding: Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 From July 11, 2019 to September 30, 2019 Loss before income tax expense $ (18,183,863 ) $ (46,011,224 ) $ (18,599,466 ) Less: Net loss attributable to non-controlling interests (5,297,782 ) (12,053,241 ) (7,399,303 ) Income tax benefit 3,382,859 8,395,077 2,719,402 Net loss attributable to the Company $ (9,503,222 ) $ (25,562,906 ) $ (8,480,761 ) Weighted average shares of Class A common stock outstanding - basic and diluted 57,913,089 45,806,225 34,326,127 Loss per share of Class A common stock outstanding - basic and diluted $ (0.16 ) $ (0.56 ) $ (0.25 )
Summary of Components of Common Stock Equivalent Shares Excluded from Computation of Diluted Loss per Share	For the three and nine months ended September 30, 2020 and the period from July 11, 2019 to September 30, 2019, the following common stock equivalent shares were excluded from the computation of the diluted loss per share, since their inclusion would have been anti-dilutive: Post-Merger Repay Units exchangeable for Class A common stock 8,361,477 8,361,477 22,045,296 Earn-out Post-Merger Repay Units exchangeable for Class A common stock - - 7,500,000 Dilutive warrants exercisable for Class A common stock - - 1,160,053 Unvested restricted share awards of Class A common stock 2,445,535 2,445,535 2,031,861 Share equivalents excluded from earnings (loss) per share 10,807,012 10,807,012 32,737,210

Business Combinations (Tables)

Business Combinations (Tables)	9 Months Ended
	Sep. 30, 2020
Summary of Pro Forma Financial Information	Pro Forma Financial Information (Unaudited) The supplemental condensed consolidated results of the Company on an unaudited pro forma basis give effect to the Business Combination as well as the TriSource, APS, Ventanex, and cPayPlus acquisitions as if the transactions had occurred on January 1, 2019. The unaudited pro forma information reflects adjustments for the issuance of the Company’s common stock, debt incurred in connection with the transactions, the impact of the fair value of intangible assets acquired and related amortization and other adjustments the Company believes are reasonable for the pro forma presentation. In addition, the pro forma earnings exclude acquisition-related costs. Pro Forma Three Months Ended September 30, 2020 Pro Forma Nine Months Ended September 30, 2020 Pro Forma Three Months Ended September 30, 2019 Pro Forma Nine Months Ended September 30, 2019 Revenue $ 37,712,710 $ 116,540,354 $ 36,744,774 $ 107,403,501 Net loss (14,874,500 ) (37,361,006 ) (57,562,188 ) (71,546,277 ) Net loss attributable to non-controlling interests (3,855,178 ) (13,377,656 ) (23,450,835 ) (29,147,953 ) Net loss attributable to the Company (11,019,322 ) (23,983,350 ) (34,111,353 ) (42,398,324 ) Loss per Class A share - basic and diluted $ (0.19 ) $ (0.70 ) $ (0.59 ) $ (1.24 )
Hawk Parent Holdings LLC
Summary of Preliminary Purchase Consideration	The following summarizes the purchase consideration paid to the selling members of Hawk Parent: Cash Consideration $ 260,811,062 Unit Consideration (1) 220,452,964 Contingent consideration (2) 12,300,000 Tax receivable agreement liability (3) 65,537,761 Net working capital adjustment (396,737 ) Total purchase price $ 558,705,050 (1) (2) (3) Represents liability with an estimated fair value of $ 65.5 million as a result of the TRA. If all the Post-Merger Repay Units are ultimately exchanged, the liability will significantly increase based on a variety of factors present at the time of exchange including, but not limited to, the market price at the time of the exchange. If the Company were to elect to terminate the Tax Receivable Agreement early, the Company would be required to make an immediate cash payment equal to the present value of the anticipated future tax benefits that are the subject of the Tax Receivable Agreement, which payment may be made significantly in advance of the actual realization, if any, of such future tax benefits.
Summary of Preliminary and Final Purchase Allocation	The Company recorded an allocation of the purchase price to Hawk Parent’s tangible and identifiable intangible assets acquired and liabilities assumed based on their fair values as of the July 11, 2019 closing date. The final purchase price allocation is as follows: Cash and cash equivalents $ 11,281,078 Accounts receivable 10,593,867 Prepaid expenses and other current assets 890,745 Total current assets 22,765,690 Property, plant and equipment, net 1,167,872 Restricted cash 6,930,434 Identifiable intangible assets 301,000,000 Total identifiable assets acquired 331,863,996 Accounts payable (4,206,413 ) Accrued expenses (8,831,363 ) Accrued employee payments (6,501,123 ) Other liabilities (16,864 ) Repay debt assumed (93,514,583 ) Net identifiable assets acquired 218,793,650 Goodwill 339,911,400 Total purchase price $ 558,705,050
Summary of Preliminary Values Allocated to Identifiable Intangible Assets and Estimated Useful Lives	The values allocated to identifiable intangible assets and their estimated useful lives are as follows: Fair Value Useful life Identifiable intangible assets (in millions) (in years) Non-compete agreements $ 3.0 2 Trade names 20.0 Indefinite Developed technology 65.0 3 Merchant relationships 210.0 10 Channel relationships 3.0 10 $ 301.0
TriSource Solutions, LLC
Summary of Preliminary Purchase Consideration	The following summarizes the purchase consideration paid to the selling members of TriSource: Cash Consideration $ 60,235,090 Contingent consideration (1) 2,250,000 Total purchase price $ 62,485,090 ( 1 )
Summary of Preliminary and Final Purchase Allocation	The Company recorded an allocation of the purchase price to TriSource’s tangible and identifiable intangible assets acquired and liabilities assumed based on their fair values as of the August 13, 2019 closing date. The final purchase price allocation is as follows: Cash and cash equivalents $ 383,236 Accounts receivable 2,290,441 Prepaid expenses and other current assets 95,763 Total current assets 2,769,440 Property, plant and equipment, net 215,739 Restricted cash 509,019 Identifiable intangible assets 30,500,000 Total identifiable assets acquired 33,994,198 Accounts payable (1,621,252 ) Accrued expenses (756,117 ) Net identifiable assets acquired 31,616,829 Goodwill 30,868,261 Total purchase price $ 62,485,090
Summary of Preliminary Values Allocated to Identifiable Intangible Assets and Estimated Useful Lives	The values allocated to identifiable intangible assets and their estimated useful lives are as follows: Fair Value Useful life Identifiable intangible assets (in millions) (in years) Non-compete agreements $ 0.4 5 Trade names 0.7 Indefinite Developed technology 3.9 3 Merchant relationships 25.5 10 $ 30.5
APS Payments
Summary of Preliminary Purchase Consideration	The following summarizes the purchase consideration paid to the selling members of APS: Cash consideration $ 30,465,454 Contingent consideration (1) 18,580,549 Total purchase price $ 49,046,003 (1)
Summary of Preliminary and Final Purchase Allocation	The Company recorded an allocation of the purchase price to APS Payments’ tangible and identifiable intangible assets acquired and liabilities assumed based on their fair values as of the October 11, 2019 closing date. The final purchase price allocation is as follows: Cash and cash equivalents $ - Accounts receivable 1,963,177 Prepaid expenses and other current assets 67,158 Total current assets 2,030,335 Property, plant and equipment, net 159,553 Restricted cash 549,978 Identifiable intangible assets 21,500,000 Total identifiable assets acquired 24,239,866 Accounts payable (1,101,706 ) Accrued expenses (19,018 ) Net identifiable assets acquired 23,119,142 Goodwill 25,926,861 Total purchase price $ 49,046,003
Summary of Preliminary Values Allocated to Identifiable Intangible Assets and Estimated Useful Lives	The values allocated to identifiable intangible assets and their estimated useful lives are as follows: Fair Value Useful life Identifiable intangible assets (in millions) (in years) Non-compete agreements $ 0.5 5 Trade names 0.5 Indefinite Merchant relationships 20.5 9 $ 21.5
Ventanex
Summary of Preliminary Purchase Consideration	The following summarizes the preliminary purchase consideration paid to the selling members of Ventanex: Cash consideration $ 35,939,129 Contingent consideration (1) 4,800,000 Total purchase price $ 40,739,129 (1)
Summary of Preliminary and Final Purchase Allocation	The preliminary purchase price allocation is as follows: Cash and cash equivalents $ 50,663 Accounts receivable 1,376,539 Prepaid expenses and other current assets 180,514 Total current assets 1,607,716 Property, plant and equipment, net 137,833 Restricted cash 428,313 Identifiable intangible assets 26,890,000 Total identifiable assets acquired 29,063,862 Accounts payable (152,035 ) Accrued expenses (373,159 ) Net identifiable assets acquired 28,538,668 Goodwill 12,200,461 Total purchase price $ 40,739,129
Summary of Preliminary Values Allocated to Identifiable Intangible Assets and Estimated Useful Lives	The preliminary values allocated to identifiable intangible assets and their estimated useful lives are as follows: Fair Value Useful life Identifiable intangible assets (in millions) (in years) Non-compete agreements $ 0.1 5 Trade names 0.4 Indefinite Developed technology 4.1 3 Merchant relationships 22.3 10 $ 26.9
cPayPlus
Summary of Preliminary Purchase Consideration	The following summarizes the preliminary purchase consideration paid to the selling members of cPayPlus: Cash consideration $ 7,846,959 Contingent consideration (1) 6,500,000 Total purchase price $ 14,346,959 (1)
Summary of Preliminary and Final Purchase Allocation	The preliminary purchase price allocation is as follows: Cash and cash equivalents $ 262,331 Accounts receivable 164,789 Prepaid expenses and other current assets 37,660 Total current assets 464,780 Property, plant and equipment, net 20,976 Identifiable intangible assets 7,720,000 Total identifiable assets acquired 8,205,756 Accounts payable (99,046 ) Accrued expenses (363,393 ) Net identifiable assets acquired 7,743,317 Goodwill 6,603,642 Total purchase price $ 14,346,959
Summary of Preliminary Values Allocated to Identifiable Intangible Assets and Estimated Useful Lives	The preliminary values allocated to identifiable intangible assets and their estimated useful lives are as follows: Fair Value Useful life Identifiable intangible assets (in millions) (in years) Non-compete agreements $ 0.1 5 Trade names 0.1 Indefinite Developed technology 6.7 3 Merchant relationships 0.9 10 $ 7.7

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Sep. 30, 2020
Summary of Carrying Amounts and Estimated Fair Values of Assets and Liabilities Measured at Fair Value	The following table summarizes, by level within the fair value hierarchy, the carrying amounts and estimated fair values of the Company’s assets and liabilities measured at fair value on a recurring or nonrecurring basis or disclosed, but not carried, at fair value in the Consolidated Balance Sheets as of the dates presented. There were no transfers into, out of, or between levels within the fair value hierarchy during any of the periods presented. Refer to Note 5, Note 10 and Note 11 for additional information on these liabilities. September 30, 2020 Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 182,290,497 $ — $ — $ 182,290,497 Restricted cash 10,388,388 — — 10,388,388 Total assets $ 192,678,885 $ — $ — $ 192,678,885 Liabilities: Contingent consideration $ — $ — $ 14,800,000 $ 14,800,000 Borrowings — 258,067,855 — 258,067,855 Tax receivable agreement — — 222,900,327 222,900,327 Interest rate swap — 10,131,735 — 10,131,735 Total liabilities $ — $ 268,199,590 $ 237,700,327 $ 505,899,917 December 31, 2019 Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 24,617,996 $ — $ — $ 24,617,996 Restricted cash 13,283,121 — — 13,283,121 Interest rate swap — 555,449 — 555,449 Total assets $ 37,901,117 $ 555,449 $ — $ 38,456,566 Liabilities: Contingent consideration $ — $ — $ 14,250,000 $ 14,250,000 Borrowings — 213,908,388 — 213,908,388 Tax receivable agreement — — 67,176,226 67,176,226 Total liabilities $ — $ 213,908,388 $ 81,426,226 $ 295,334,614
Contingent Consideration
Schedule of Contingent Consideration Related to Previous Business Acquisitions	The following table provides a rollforward of the contingent consideration related to previous business acquisitions. Refer to Note 5 for more details. Nine Months Ended September 30, 2020 From July 11, 2019 to September 30, 2019 From January 1, 2019 to July 10, 2019 (Successor) (Predecessor) Balance at beginning of period $ 14,250,000 $ - $ 1,816,988 Purchases 11,300,000 14,550,000 — Payments (14,320,549 ) — (1,816,988 ) Accretion expense — — — Valuation adjustment 3,570,549 — — Balance at end of period $ 14,800,000 $ 14,550,000 $ —
Tax Receivable Agreement
Schedule of Contingent Consideration Related to Previous Business Acquisitions	The following table provides a rollforward of the TRA related to the Business Combination and subsequent acquisition of Post-Merger Repay Units held by Corsair, pursuant to the Unit Purchase Agreements. See Note 15 for further discussion on the TRA. Nine Months Ended September 30, 2020 From July 11, 2019 to September 30, 2019 From January 1, 2019 to July 10, 2019 (Successor) (Predecessor) Balance at beginning of period $ 67,176,226 $ — $ — Purchases 143,668,304 65,886,701 — Payments — — — Accretion expense 2,571,460 — — Valuation adjustment 9,484,337 — — Balance at end of period $ 222,900,327 $ 65,886,701 $ —

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Sep. 30, 2020
Property Plant And Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consisted of the following: September 30, December 31, 2020 2019 Furniture, fixtures, and office equipment $ 1,074,008 $ 944,105 Computers 1,577,939 859,426 Leasehold improvements 335,517 223,145 Total 2,987,464 2,026,676 Less: Accumulated depreciation and amortization 1,278,733 416,024 $ 1,708,731 $ 1,610,652

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule Of Definite-lived Intangible Assets	Definite-lived intangible assets consisted of the following: Gross Carrying Value Accumulated Amortization Net Carrying Value Weighted Average Useful Life (Years) Customer relationships $ 279,150,000 $ 32,171,968 $ 246,978,032 8.75 Channel relationships 3,000,000 366,935 2,633,065 8.78 Software costs 93,885,253 31,817,917 62,067,336 1.78 Non-compete agreements 4,080,000 2,083,416 1,996,584 1.55 Balance as of September 30, 2020 $ 380,115,253 $ 66,440,236 $ 313,675,017 6.95 Customer relationships $ 256,000,000 $ 11,393,825 $ 244,606,175 9.48 Channel relationships 3,000,000 141,935 2,858,065 9.53 Software costs 72,290,752 11,080,696 61,210,056 2.54 Non-compete agreements 3,900,000 733,495 3,166,505 2.28 Balance as of December 31, 2019 $ 335,190,752 $ 23,349,951 $ 311,840,801 7.90
Schedule of Estimated Amortization Expense	The estimated amortization expense for the next five years and thereafter in the aggregate is as follows: Year Ending December 31, Estimated Future Amortization Expense 2020 $ 15,409,158 2021 62,455,180 2022 51,959,290 2023 28,555,778 2024 28,564,200 2025 28,357,778 Thereafter 98,373,633

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Sep. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Changes to Goodwill	The following table presents changes to goodwill for the nine months ended September 30, 2020 and 2019. Total Balance at December 31, 2019 $ 389,660,519 Acquisitions 18,804,103 Dispositions — Impairment Loss — Measurement period adjustment 7,046,003 Balance at September 30, 2020 $ 415,510,625 Balance as of December 31, 2018 (Predecessor) $ 119,529,202 Acquisitions 251,250,459 Dispositions — Impairment Loss — Measurement period adjustment — Balance as of September 30, 2019 (Successor) $ 370,779,661

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Summary of Borrowings under Credit Agreement	At September 30, 2020 and December 31, 2019, total borrowings under the New Credit Agreement consisted of the following, respectively: September 30, 2020 December 31, 2019 Non-current indebtedness: Term Loan $ 264,369,659 $ 208,937,500 Revolving Credit Facility — 10,000,000 Total borrowings under credit facility (1) 264,369,659 218,937,500 Less: Current maturities of long-term debt (2) 6,760,650 5,500,000 Less: Long-term loan debt issuance cost (3) 6,301,804 5,494,795 Total non-current borrowings $ 251,307,205 $ 207,942,705 (1) The Term Loan, Delayed Draw Term Loan and Revolving Credit Facility bear interest, at variable rates, which were 3.65% and 5.26% at September 30, 2020 and December 31, 2019, respectively (2) Pursuant to the terms of the New Credit Agreement, the Company is required to make quarterly principal payments equal to 0.625 % of the initial principal amount of the Term Loan and Delayed Draw Term Loan (collectively the “Term Loans”). (3) The Company incurred $0.4 million, $1.1 million, and $0.2 million of interest expense for the amortization of deferred debt issuance costs for the three and nine months ended September 30, 2020 and the period from July 11, 2019 to September 30, 2019, respectively. The Predecessor incurred $0.0 million and $0.2 million for the periods from July 1, 2019 to July 10, 2019 and January 1, 2019 to July 10, 2019 respectively.
Summary of Principal Maturities of Long-term Debt	Following is a summary of principal maturities of long‑term debt for each of the next five years ending December 31 and in the aggregate: 2020 $ 1,690,162 2021 6,760,650 2022 13,250,812 2023 19,561,462 2024 20,056,949 2025 203,049,624 $ 264,369,659

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Schedule of Outstanding Interest Rate Derivatives Designated as Cash Flow Hedges of Interest Rate Risk	As of September 30, 2020, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk. Notional Amount Fixed Interest Rate Termination Date Interest rate swap $ 140,000,000 1.598% July 11, 2024 Interest rate swap $ 30,000,000 1.331% February 10, 2025

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
Schedule of Future Minimum Lease Payments	The Company is committed under various operating leases for buildings with varying expiration dates. Future minimum lease payments under non-cancelable operating leases as of September 30, 2020, are as follows: Year Ended Amounts 2020 $ 313,357 2021 1,104,876 2022 775,983 2023 394,081 2024 81,149 Thereafter - $ 2,669,446

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2020
Related Party Transactions [Abstract]
Schedule of Related Party Payables	Related party payables consisted of the following: September 30, December 31, 2020 2019 TriSource accrued earnout liability $ 4,000,000 $ 2,250,000 APS Payments accrued earnout liability - 12,250,000 Ventanex accrued earnout liability 4,300,000 - cPayPlus accrued earnout liability 6,500,000 - Other payables to related parties 96,246 71,266 $ 14,896,246 $ 14,571,266

Share based compensation (Table

Share based compensation (Tables)	9 Months Ended
	Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Schedule of Outstanding Restricted Stock Awards And Restricted Stock Units Activity	Activities for the nine months ended September 30, 2020 and the period from July 11, 2019 to September 30, 2019 are as follows: Class A Common Stock Weighted Average Grant Date Fair Value Unvested at December 31, 2019 1,818,675 $ 12.39 Granted 1,148,844 17.36 Forfeited (1) (2) 47,847 13.56 Vested 501,818 12.01 Unvested at September 30, 2020 2,417,854 $ 23.33 Unvested at July 11, 2019 — $ — Granted 3,000,229 11.73 Forfeited (2) 152,976 11.82 Vested 575,301 11.64 Unvested at September 30, 2019 2,271,952 $ 11.75 (1) The forfeited shares include employee terminations during the nine months ended September 30, 2020; further, these forfeited shares are added back to the amount of shares available for grant under the 2019 Equity Incentive Plan. (2) Upon vesting, award-holders elected to sell shares to the Company in order to satisfy the associated tax obligations. The awards are not deemed outstanding; further, these forfeited shares are added back to the amount of shares available for grant under the 2019 Equity Incentive Plan.
Summary of Changes in Non-Vested Units Outstanding	As a result of the change in ownership of Hawk Parent, 9,171 previously unvested profit interest units of the Predecessor with a weighted average grant date fair value of $180.87 were automatically vested, upon the closing of the Business Combination. A summary of the changes in non-vested units outstanding for the period from January 1, 2019 to July 10, 2019 is presented below: Units Weighted average fair value per unit Non-vested units at January 1, 2019 9,460 $ 182.83 Activity during the period: Granted — — Vested (9,460 ) (182.83 ) Non-vested units at July 10, 2019 — $ —

Organizational Structure and _2

Organizational Structure and Corporate Information - Additional Information (Details) - USD ($)	Sep. 22, 2020	Sep. 14, 2020	Sep. 09, 2020	Jul. 27, 2020	Jul. 23, 2020	Jun. 02, 2020	May 28, 2020	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020	Sep. 30, 2020
Summary Of Significant Accounting Policies [Line Items]
Proceeds from exercise of warrants								$ 31,500,000			$ 86,798,846
cPayPlus
Summary Of Significant Accounting Policies [Line Items]
Acquisition date					Jul. 23, 2020
Payments made to acquire business					$ 7,846,959
Additional cash earn payment upon achievement of growth targets					$ 8,000,000
Unit Purchase Agreement | CC Payment Holdings, L.L.C
Summary Of Significant Accounting Policies [Line Items]
Number of shares issued			14,364,816				5,200,000
Business combination price per share			$ 23.425				$ 19
Class A Common Stock
Summary Of Significant Accounting Policies [Line Items]
Issuance of new shares, shares		13,000,000						14,364,816		9,200,000
Number of shares of common stock sold						1,200,000
Sale of stock, per share		$ 24
Warrant exercise, shares				2,700,000				2,738,491		5,287,762
Proceeds from issuance of common stock				$ 31,500,000					$ 135,000,000		$ 510,366,818
Underwriters option to purchase additional shares, days		30 days
Class A Common Stock | Underwriting Discounts and Commissions
Summary Of Significant Accounting Policies [Line Items]
Sale of stock, per share		$ 23.425				$ 19
Class A Common Stock | Follow-on Offering
Summary Of Significant Accounting Policies [Line Items]
Issuance of new shares, shares						9,200,000
Sale of stock, per share						$ 20
Class A Common Stock | Over-allotments
Summary Of Significant Accounting Policies [Line Items]
Number of shares of common stock sold		1,364,816
Exercised option to purchase additional shares	1,364,816

Revenue - Summary of Disaggrega

Revenue - Summary of Disaggregation of Revenue (Details) - USD ($)	Jul. 10, 2019	Sep. 30, 2020	Sep. 30, 2019	Jul. 10, 2019	Sep. 30, 2020
Revenue
Total Revenue	$ 2,333,837	$ 37,634,537	$ 23,926,474	$ 47,042,917	$ 113,597,599
Direct Relationships
Revenue
Total Revenue	2,274,747	37,088,404	23,432,825	45,693,961	111,677,862
Indirect Relationship
Revenue
Total Revenue	$ 59,090	$ 546,133	$ 493,649	$ 1,348,956	$ 1,919,737

Earnings per Share - Summary of

Earnings per Share - Summary of Net Loss and Weighted Average Basic and Diluted Shares Outstanding (Details) - USD ($)	Jul. 10, 2019	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020	Jul. 10, 2019	Jun. 30, 2019	Sep. 30, 2020
Earnings Per Share [Abstract]
Loss before income tax expense	$ (32,763,009)	$ (18,183,863)	$ (18,599,466)		$ (23,742,530)		$ (46,011,224)
Less: Net loss attributable to non-controlling interests		(5,297,782)	(7,399,303)				(12,053,241)
Income tax benefit		3,382,859	2,719,402				8,395,077
Net (loss) income attributable to the Company	$ (32,763,009)	$ (9,503,222)	$ (8,480,761)	$ (16,059,684)	$ (23,742,530)	$ 9,020,479	$ (25,562,906)
Weighted average shares of Class A common stock outstanding - basic and diluted		57,913,089	34,326,127				45,806,225
Loss per share of Class A common stock outstanding - basic and diluted		$ (0.16)	$ (0.25)				$ (0.56)

Earnings per Share - Summary _2

Earnings per Share - Summary of Components of Common Stock Equivalent Shares Excluded from Computation of Diluted Loss per Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Share equivalents excluded from earnings (loss) per share	10,807,012	32,737,210	10,807,012
Class A Common Stock | Post-Merger Repay Units Exchangeable
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Share equivalents excluded from earnings (loss) per share	8,361,477	22,045,296	8,361,477
Class A Common Stock | Earn-out Post-Merger Repay Units Exchangeable
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Share equivalents excluded from earnings (loss) per share		7,500,000
Class A Common Stock | Dilutive Warrants Exercisable
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Share equivalents excluded from earnings (loss) per share		1,160,053
Class A Common Stock | Unvested Restricted Share Awards
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Share equivalents excluded from earnings (loss) per share	2,445,535	2,031,861	2,445,535

Business Combinations - Additio

Business Combinations - Additional Information (Details)	Jul. 23, 2020USD ($)	Apr. 06, 2020USD ($)	Feb. 10, 2020USD ($)	Oct. 14, 2019USD ($)EarnoutPayment	Aug. 13, 2019USD ($)	Jul. 11, 2019USD ($)	Jul. 10, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2020USD ($)	Jul. 10, 2019USD ($)	Jun. 30, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Business Acquisition [Line Items]
Goodwill								$ 415,510,625	$ 415,510,625	$ 370,779,661				$ 415,510,625	$ 415,510,625	$ 389,660,519	$ 119,529,202
Revenue							$ 2,333,837		37,634,537	23,926,474		$ 47,042,917			113,597,599
Net income (loss)							$ (32,763,009)		(9,503,222)	$ (8,480,761)	$ (16,059,684)	$ (23,742,530)	$ 9,020,479		$ (25,562,906)
Hawk Parent Holdings LLC
Business Acquisition [Line Items]
Merger agreement, description															The amount of cash consideration paid to selling Hawk Parent members at the Closing was equal to the following: (i) the total cash and cash equivalents of Thunder Bridge (including funds in its trust account after the redemption of its public stockholders and the proceeds of any debt or equity financing), minus (ii) the amount of Thunder Bridge’s unpaid expenses and obligations, plus (iii) the cash and cash equivalents of Hawk Parent as of immediately prior to the effective time of the Business Combination (excluding restricted cash), minus (iv) the amount of unpaid transaction expenses of Hawk Parent as of the Closing, minus (v) the amount of the indebtedness and other debt-like items of Hawk Parent and its subsidiaries as of the Closing, minus (vi) the amount of change of control and similar payments payable to employees of Hawk Parent in connection with the Business Combination, minus (vii) an amount of cash reserves equal to $10,000,000, minus (viii) a cash escrow of $150,000, minus (ix) an amount equal to $2,000,000 to be held by a representative of the selling Hawk Parent members, minus (x) the cash payment required in connection with the related warrant amendment, minus (xi) an amount required to be deposited on the balance sheet of Hawk Parent in connection with the Business Combination.
Amount of equal cash reserve for merger consideration						$ 10,000,000
Cash escrow						150,000
Amount to be held by representative for merger consideration						2,000,000
Goodwill						339,911,400
Cash Consideration						$ 260,811,062
TriSource Solutions, LLC
Business Acquisition [Line Items]
Goodwill					$ 30,868,261
Cash Consideration					60,235,090
Revenue									8,300,000						$ 23,100,000
Net income (loss)									1,700,000						4,000,000
TriSource Solutions, LLC | Maximum
Business Acquisition [Line Items]
Contingent earn-out right to be received					$ 5,000,000
APS Payments
Business Acquisition [Line Items]
Goodwill				$ 25,926,861
Cash Consideration				30,465,454
Earnout payment		$ 14,300,000		$ 30,000,000
Number of cash earn-out payments | EarnoutPayment				3
Revenue									3,300,000						10,400,000
Net income (loss)									(600,000)						300,000
Ventanex
Business Acquisition [Line Items]
Goodwill			$ 12,200,461
Cash Consideration			35,939,129
Revenue									3,200,000					7,600,000
Net income (loss)									500,000					$ 500,000
Ventanex | Maximum
Business Acquisition [Line Items]
Contingent earn-out right to be received			$ 14,000,000
cPayPlus
Business Acquisition [Line Items]
Goodwill	$ 6,603,642
Cash Consideration	7,846,959
Revenue								400,000
Net income (loss)								$ 0
cPayPlus | Maximum
Business Acquisition [Line Items]
Contingent earn-out right to be received	$ 8,000,000
APS, Vantanex and cPayPlus Acquisitions
Business Acquisition [Line Items]
Transactions costs									$ 1,400,000						$ 3,500,000

Business Combinations - Summary

Business Combinations - Summary of Preliminary Purchase Consideration (Details) - USD ($)	Jul. 23, 2020	Feb. 10, 2020	Oct. 14, 2019	Aug. 13, 2019	Jul. 11, 2019
Hawk Parent Holdings LLC
Business Acquisition [Line Items]
Cash Consideration					$ 260,811,062
Unit Consideration					220,452,964
Contingent consideration					12,300,000
Tax receivable agreement liability					65,537,761
Net working capital adjustment					(396,737)
Total purchase price					$ 558,705,050
TriSource Solutions, LLC
Business Acquisition [Line Items]
Cash Consideration				$ 60,235,090
Contingent consideration				2,250,000
Total purchase price				$ 62,485,090
APS Payments
Business Acquisition [Line Items]
Cash Consideration			$ 30,465,454
Contingent consideration			18,580,549
Total purchase price			$ 49,046,003
Ventanex
Business Acquisition [Line Items]
Cash Consideration		$ 35,939,129
Contingent consideration		4,800,000
Total purchase price		$ 40,739,129
cPayPlus
Business Acquisition [Line Items]
Cash Consideration	$ 7,846,959
Contingent consideration	6,500,000
Total purchase price	$ 14,346,959

Business Combinations - Summa_2

Business Combinations - Summary of Preliminary Purchase Consideration (Parenthetical) (Details) - USD ($)	Apr. 06, 2020	Oct. 14, 2019	Aug. 13, 2019	Jul. 11, 2019	Sep. 30, 2020	Sep. 30, 2020	Jul. 23, 2020	Feb. 10, 2020
Hawk Parent Holdings LLC
Business Acquisition [Line Items]
Number of shares issued				22,045,297
Business combination price per share				$ 10
Earn-out units received				7,500,000
Tax receivable agreement liability				$ 65,537,761
TriSource Solutions, LLC
Business Acquisition [Line Items]
Remaining earn-out payment adjusted to first payment			$ 4,000,000
Adjustment included in change in fair value of contingent consideration					$ 1,750,000	$ 1,750,000
TriSource Solutions, LLC | Maximum
Business Acquisition [Line Items]
Contingent earn-out right to be received			$ 5,000,000
APS Payments
Business Acquisition [Line Items]
Remaining earn-out payment adjusted to first payment						0
Adjustment included in change in fair value of contingent consideration					5,000,000	5,700,000
Earnout payment	$ 14,300,000	$ 30,000,000
Ventanex
Business Acquisition [Line Items]
Remaining earn-out payment adjusted to first payment						4,300,000
Adjustment included in change in fair value of contingent consideration					$ 500,000	$ 500,000
Ventanex | Maximum
Business Acquisition [Line Items]
Contingent earn-out right to be received								$ 14,000,000
cPayPlus | Maximum
Business Acquisition [Line Items]
Contingent earn-out right to be received							$ 8,000,000

Business Combinations - Summa_3

Business Combinations - Summary of Preliminary and Final Purchase Allocation (Details) - USD ($)	Sep. 30, 2020	Jul. 23, 2020	Feb. 10, 2020	Dec. 31, 2019	Oct. 14, 2019	Sep. 30, 2019	Aug. 13, 2019	Jul. 11, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Goodwill	$ 415,510,625			$ 389,660,519		$ 370,779,661			$ 119,529,202
Hawk Parent Holdings LLC
Business Acquisition [Line Items]
Cash and cash equivalents								$ 11,281,078
Accounts receivable								10,593,867
Prepaid expenses and other current assets								890,745
Total current assets								22,765,690
Property, plant and equipment, net								1,167,872
Restricted cash								6,930,434
Identifiable intangible assets								301,000,000
Total identifiable assets acquired								331,863,996
Accounts payable								(4,206,413)
Accrued expenses								(8,831,363)
Accrued employee payments								(6,501,123)
Other liabilities								(16,864)
Repay debt assumed								(93,514,583)
Net identifiable assets acquired								218,793,650
Goodwill								339,911,400
Total purchase price								$ 558,705,050
TriSource Solutions, LLC
Business Acquisition [Line Items]
Cash and cash equivalents							$ 383,236
Accounts receivable							2,290,441
Prepaid expenses and other current assets							95,763
Total current assets							2,769,440
Property, plant and equipment, net							215,739
Restricted cash							509,019
Identifiable intangible assets							30,500,000
Total identifiable assets acquired							33,994,198
Accounts payable							(1,621,252)
Accrued expenses							(756,117)
Net identifiable assets acquired							31,616,829
Goodwill							30,868,261
Total purchase price							$ 62,485,090
APS Payments
Business Acquisition [Line Items]
Accounts receivable					$ 1,963,177
Prepaid expenses and other current assets					67,158
Total current assets					2,030,335
Property, plant and equipment, net					159,553
Restricted cash					549,978
Identifiable intangible assets					21,500,000
Total identifiable assets acquired					24,239,866
Accounts payable					(1,101,706)
Accrued expenses					(19,018)
Net identifiable assets acquired					23,119,142
Goodwill					25,926,861
Total purchase price					$ 49,046,003
Ventanex
Business Acquisition [Line Items]
Cash and cash equivalents			$ 50,663
Accounts receivable			1,376,539
Prepaid expenses and other current assets			180,514
Total current assets			1,607,716
Property, plant and equipment, net			137,833
Restricted cash			428,313
Identifiable intangible assets			26,890,000
Total identifiable assets acquired			29,063,862
Accounts payable			(152,035)
Accrued expenses			(373,159)
Net identifiable assets acquired			28,538,668
Goodwill			12,200,461
Total purchase price			$ 40,739,129
cPayPlus
Business Acquisition [Line Items]
Cash and cash equivalents		$ 262,331
Accounts receivable		164,789
Prepaid expenses and other current assets		37,660
Total current assets		464,780
Property, plant and equipment, net		20,976
Identifiable intangible assets		7,720,000
Total identifiable assets acquired		8,205,756
Accounts payable		(99,046)
Accrued expenses		(363,393)
Net identifiable assets acquired		7,743,317
Goodwill		6,603,642
Total purchase price		$ 14,346,959

Business Combinations - Summa_4

Business Combinations - Summary of Preliminary Values Allocated to Identifiable Intangible Assets and Estimated Useful Lives (Details) - USD ($)	Jul. 23, 2020	Feb. 10, 2020	Oct. 14, 2019	Aug. 13, 2019	Jul. 11, 2019	Sep. 30, 2020
Hawk Parent Holdings LLC
Business Acquisition [Line Items]
Identifiable intangible assets, fair value					$ 301,000,000
Hawk Parent Holdings LLC | Trade Names
Business Acquisition [Line Items]
Identifiable intangible assets, fair value					20,000,000
Identifiable intangible assets, useful life, description						Indefinite
TriSource Solutions, LLC
Business Acquisition [Line Items]
Identifiable intangible assets, fair value				$ 30,500,000
TriSource Solutions, LLC | Trade Names
Business Acquisition [Line Items]
Identifiable intangible assets, fair value				700,000
Identifiable intangible assets, useful life, description						Indefinite
APS Payments
Business Acquisition [Line Items]
Identifiable intangible assets, fair value			$ 21,500,000
APS Payments | Trade Names
Business Acquisition [Line Items]
Identifiable intangible assets, fair value			500,000
Identifiable intangible assets, useful life, description						Indefinite
Ventanex
Business Acquisition [Line Items]
Identifiable intangible assets, fair value		$ 26,890,000
Ventanex | Trade Names
Business Acquisition [Line Items]
Identifiable intangible assets, fair value		400,000
Identifiable intangible assets, useful life, description						Indefinite
cPayPlus
Business Acquisition [Line Items]
Identifiable intangible assets, fair value	$ 7,720,000
cPayPlus | Trade Names
Business Acquisition [Line Items]
Identifiable intangible assets, fair value	100,000
Identifiable intangible assets, useful life, description						Indefinite
Non-Complete Agreements | Hawk Parent Holdings LLC
Business Acquisition [Line Items]
Identifiable intangible assets, fair value					$ 3,000,000
Identifiable intangible assets, useful life					2 years
Non-Complete Agreements | TriSource Solutions, LLC
Business Acquisition [Line Items]
Identifiable intangible assets, fair value				$ 400,000
Identifiable intangible assets, useful life				5 years
Non-Complete Agreements | APS Payments
Business Acquisition [Line Items]
Identifiable intangible assets, fair value			$ 500,000
Identifiable intangible assets, useful life			5 years
Non-Complete Agreements | Ventanex
Business Acquisition [Line Items]
Identifiable intangible assets, fair value		$ 100,000
Identifiable intangible assets, useful life		5 years
Non-Complete Agreements | cPayPlus
Business Acquisition [Line Items]
Identifiable intangible assets, fair value	$ 100,000
Identifiable intangible assets, useful life	5 years
Developed Technology | Hawk Parent Holdings LLC
Business Acquisition [Line Items]
Identifiable intangible assets, fair value					$ 65,000,000
Identifiable intangible assets, useful life					10 years
Developed Technology | TriSource Solutions, LLC
Business Acquisition [Line Items]
Identifiable intangible assets, fair value				$ 3,900,000
Identifiable intangible assets, useful life				3 years
Developed Technology | Ventanex
Business Acquisition [Line Items]
Identifiable intangible assets, fair value		$ 4,100,000
Identifiable intangible assets, useful life		3 years
Developed Technology | cPayPlus
Business Acquisition [Line Items]
Identifiable intangible assets, fair value	$ 6,700,000
Identifiable intangible assets, useful life	3 years
Merchant Relationships | Hawk Parent Holdings LLC
Business Acquisition [Line Items]
Identifiable intangible assets, fair value					$ 210,000,000
Identifiable intangible assets, useful life					3 years
Merchant Relationships | TriSource Solutions, LLC
Business Acquisition [Line Items]
Identifiable intangible assets, fair value				$ 25,500,000
Identifiable intangible assets, useful life				10 years
Merchant Relationships | APS Payments
Business Acquisition [Line Items]
Identifiable intangible assets, fair value			$ 20,500,000
Identifiable intangible assets, useful life			9 years
Merchant Relationships | Ventanex
Business Acquisition [Line Items]
Identifiable intangible assets, fair value		$ 22,300,000
Identifiable intangible assets, useful life		10 years
Merchant Relationships | cPayPlus
Business Acquisition [Line Items]
Identifiable intangible assets, fair value	$ 900,000
Identifiable intangible assets, useful life	10 years
Channel Relationships | Hawk Parent Holdings LLC
Business Acquisition [Line Items]
Identifiable intangible assets, fair value					$ 3,000,000
Identifiable intangible assets, useful life					10 years

Business Combinations - Summa_5

Business Combinations - Summary of Pro Forma Financial Information (Details) - TriSource, APS, Ventanex, and cPayPlus - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Business Acquisition [Line Items]
Revenue	$ 37,712,710	$ 36,744,774	$ 116,540,354	$ 107,403,501
Net loss	(14,874,500)	(57,562,188)	(37,361,006)	(71,546,277)
Net loss attributable to non-controlling interests	(3,855,178)	(23,450,835)	(13,377,656)	(29,147,953)
Net loss attributable to the Company	$ (11,019,322)	$ (34,111,353)	$ (23,983,350)	$ (42,398,324)
Loss per Class A share - basic and diluted	$ (0.19)	$ (0.59)	$ (0.70)	$ (1.24)

Fair Value - Summary of Carryin

Fair Value - Summary of Carrying Amounts and Estimated Fair Values of Assets and Liabilities Measured at Fair Value (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Assets:
Cash and cash equivalents	$ 182,290,497	$ 24,617,996
Restricted cash	10,388,388	13,283,121
Interest rate swap		555,449
Total assets	192,678,885	38,456,566
Liabilities:
Contingent consideration	14,800,000	14,250,000
Borrowings	258,067,855	213,908,388
Tax receivable agreement	222,900,327	67,176,226
Interest rate swap	10,131,735
Total liabilities	505,899,917	295,334,614
Level 1
Assets:
Cash and cash equivalents	182,290,497	24,617,996
Restricted cash	10,388,388	13,283,121
Total assets	192,678,885	37,901,117
Level 2
Assets:
Interest rate swap		555,449
Total assets		555,449
Liabilities:
Borrowings	258,067,855	213,908,388
Interest rate swap	10,131,735
Total liabilities	268,199,590	213,908,388
Level 3
Liabilities:
Contingent consideration	14,800,000	14,250,000
Tax receivable agreement	222,900,327	67,176,226
Total liabilities	$ 237,700,327	$ 81,426,226

Fair Value - Additional Informa

Fair Value - Additional Information (Details)	1 Months Ended		9 Months Ended
	Feb. 29, 2020USD ($)	Oct. 31, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019
Interest Rate Swap Agreement
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Notional amount	$ 30,000,000	$ 140,000,000
Term of agreement	60 months	57 months
Variable-rate term loan			$ 170,000,000
Tax Receivable Agreement
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
TRA, balance increased through accretion expense and valuation adjustment			$ 12,100,000
TRA, measurement input			1.36	3
Alternative Investment, Valuation Technique [Extensible List]			us-gaap:ValuationTechniqueDiscountedCashFlowMember
Alternative Investment, Measurement Input [Extensible List]			us-gaap:MeasurementInputDiscountRateMember
Minimum [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Contingent consideration liability, measurement input			6.8
Business Combination, Contingent Consideration, Liability, Valuation Technique [Extensible List]			us-gaap:ValuationTechniqueDiscountedCashFlowMember
Business Combination, Contingent Consideration, Liability, Measurement Input [Extensible List]			us-gaap:MeasurementInputDiscountRateMember
Maximum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Contingent consideration liability, measurement input			8
Business Combination, Contingent Consideration, Liability, Valuation Technique [Extensible List]			us-gaap:ValuationTechniqueDiscountedCashFlowMember
Business Combination, Contingent Consideration, Liability, Measurement Input [Extensible List]			us-gaap:MeasurementInputDiscountRateMember
Weighted Average
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Contingent consideration liability, measurement input			7
Business Combination, Contingent Consideration, Liability, Valuation Technique [Extensible List]			us-gaap:ValuationTechniqueDiscountedCashFlowMember
Business Combination, Contingent Consideration, Liability, Measurement Input [Extensible List]			us-gaap:MeasurementInputDiscountRateMember

Fair Value - Schedule of Contin

Fair Value - Schedule of Contingent Consideration Related to Previous Business Acquisitions (Details) - USD ($)	3 Months Ended	6 Months Ended	9 Months Ended
	Sep. 30, 2019	Jul. 10, 2019	Sep. 30, 2020
Contingent Consideration
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Balance at beginning of period		$ 1,816,988	$ 14,250,000
Purchases	$ 14,550,000		11,300,000
Payments		$ (1,816,988)	(14,320,549)
Valuation adjustment			3,570,549
Balance at end of period	14,550,000		14,800,000
Tax Receivable Agreement
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Balance at beginning of period			67,176,226
Purchases	65,886,701		143,668,304
Accretion expense			2,571,460
Valuation adjustment			9,484,337
Balance at end of period	$ 65,886,701		$ 222,900,327

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Property Plant And Equipment [Line Items]
Property,plant and equipment, gross	$ 2,987,464	$ 2,026,676
Less: Accumulated depreciation and amortization	1,278,733	416,024
Property, plant and equipment, net	1,708,731	1,610,652
Furniture, Fixtures, and Office Equipment
Property Plant And Equipment [Line Items]
Property,plant and equipment, gross	1,074,008	944,105
Computers
Property Plant And Equipment [Line Items]
Property,plant and equipment, gross	1,577,939	859,426
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property,plant and equipment, gross	$ 335,517	$ 223,145

Property and Equipment - Additi

Property and Equipment - Additional Information (Details) - USD ($) $ in Millions	Jul. 10, 2019	Sep. 30, 2020	Sep. 30, 2019	Jul. 10, 2019	Sep. 30, 2020
Property Plant And Equipment [Abstract]
Depreciation expense	$ 0	$ 0.3	$ 0.2	$ 0.3	$ 0.9

Intangible Assets - Additional

Intangible Assets - Additional Information (Details) $ in Millions	Jul. 10, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)TradeName	Jul. 10, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2020USD ($)TradeName
Goodwill And Intangible Assets Disclosure [Abstract]
Indefinite-lived intangible assets trade names		$ 21.7		$ 21.2		$ 21.7	$ 21.7
Number of trade names | TradeName				3			5
Amortization of Intangible Assets	$ 0.3	$ 15.1	$ 10.5		$ 5.9	$ 43.2

Intangible Assets - Schedule of

Intangible Assets - Schedule of Definite-lived Intangible Assets (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Finite Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 380,115,253	$ 335,190,752
Accumulated Amortization	66,440,236	23,349,951
Net Carrying Value	$ 313,675,017	$ 311,840,801
Weighted Average Useful Life (Years)	6 years 11 months 12 days	7 years 10 months 24 days
Customer Relationships
Finite Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 279,150,000	$ 256,000,000
Accumulated Amortization	32,171,968	11,393,825
Net Carrying Value	$ 246,978,032	$ 244,606,175
Weighted Average Useful Life (Years)	8 years 9 months	9 years 5 months 23 days
Channel Relationships
Finite Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 3,000,000	$ 3,000,000
Accumulated Amortization	366,935	141,935
Net Carrying Value	$ 2,633,065	$ 2,858,065
Weighted Average Useful Life (Years)	8 years 9 months 10 days	9 years 6 months 10 days
Software Costs
Finite Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 93,885,253	$ 72,290,752
Accumulated Amortization	31,817,917	11,080,696
Net Carrying Value	$ 62,067,336	$ 61,210,056
Weighted Average Useful Life (Years)	1 year 9 months 10 days	2 years 6 months 14 days
Non-Complete Agreements
Finite Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 4,080,000	$ 3,900,000
Accumulated Amortization	2,083,416	733,495
Net Carrying Value	$ 1,996,584	$ 3,166,505
Weighted Average Useful Life (Years)	1 year 6 months 18 days	2 years 3 months 10 days

Intangible Assets - Schedule _2

Intangible Assets - Schedule of Estimated Amortization Expense (Details)	Sep. 30, 2020USD ($)
Estimated Future Amortization Expense
2020	$ 15,409,158
2021	62,455,180
2022	51,959,290
2023	28,555,778
2024	28,564,200
2025	28,357,778
Thereafter	$ 98,373,633

Goodwill - Schedule of Changes

Goodwill - Schedule of Changes to Goodwill (Details) - USD ($)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Beginning balance	$ 389,660,519	$ 119,529,202
Acquisitions	18,804,103	251,250,459
Dispositions	0	0
Impairment Loss	0	0
Measurement period adjustment	7,046,003
Ending balance	$ 415,510,625	$ 370,779,661

Goodwill - Additional Informati

Goodwill - Additional Information (Details)	9 Months Ended
	Sep. 30, 2020USD ($)SegmentUnit	Sep. 30, 2019USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Number of operating segment | Segment	1
Number of reporting unit | Unit	1
Goodwill impairment loss | $	$ 0	$ 0

Borrowings - Additional Informa

Borrowings - Additional Information (Details) - USD ($)	Jul. 10, 2019	Sep. 30, 2020	Sep. 30, 2019	Jul. 10, 2019	Sep. 30, 2020	Dec. 31, 2019	Feb. 10, 2020	Feb. 09, 2020	Jul. 11, 2019
Term Loan
Debt Instrument [Line Items]
Line of credit Interest expense	$ 200,000	$ 2,600,000	$ 2,500,000	$ 2,800,000	$ 9,000,000
New Credit Agreement
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity							$ 345,000,000	$ 230,000,000
Line of credit Interest expense		0			$ 62,008
Line of credit covenant compliance					The Company was in compliance with its restrictive covenants under the New Credit Agreement at September 30, 2020.
Line of credit unused commitments fee		96,567			$ 231,168
New Credit Agreement | Revolving Credit And Term Loan
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity		20,000,000			$ 20,000,000
Variable interest rate					3.65%
New Credit Agreement | Term Loan
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity							255,000,000
New Credit Agreement | Delayed Draw Term Loan
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity							60,000,000
Line of credit		14,400,000			$ 14,400,000
Revolving Loan
Debt Instrument [Line Items]
Variable interest rate					3.65%	5.26%
Revolving Loan | Prior Credit Agreement
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity									$ 10,000,000
Line of credit Interest expense	$ 7,144			$ 107,032
Revolving Loan | New Credit Agreement
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity							$ 30,000,000
Line of credit		$ 0			$ 0

Borrowings - Summary of Borrowi

Borrowings - Summary of Borrowings under Credit Agreement (Details) - USD ($)		Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Total borrowings under credit facility	[1]	$ 264,369,659	$ 218,937,500
Less: Current maturities of long-term debt	[2]	6,760,650	5,500,000
Less: Long-term loan debt issuance cost	[3]	6,301,804	5,494,795
Total non-current borrowings		251,307,205	207,942,705
Term Loan
Debt Instrument [Line Items]
Total borrowings under credit facility		$ 264,369,659	208,937,500
Revolving Credit Facility
Debt Instrument [Line Items]
Total borrowings under credit facility			$ 10,000,000
[1]	The Term Loan, Delayed Draw Term Loan and Revolving Credit Facility bear interest, at variable rates, which were 3.65% and 5.26% at September 30, 2020 and December 31, 2019, respectively
[2]	Pursuant to the terms of the New Credit Agreement, the Company is required to make quarterly principal payments equal to 0.625 % of the initial principal amount of the Term Loan and Delayed Draw Term Loan (collectively the “Term Loans”).
[3]	The Company incurred $0.4 million, $1.1 million, and $0.2 million of interest expense for the amortization of deferred debt issuance costs for the three and nine months ended September 30, 2020 and the period from July 11, 2019 to September 30, 2019, respectively. The Predecessor incurred $0.0 million and $0.2 million for the periods from July 1, 2019 to July 10, 2019 and January 1, 2019 to July 10, 2019 respectively.

Borrowings - Summary of Borro_2

Borrowings - Summary of Borrowings under Credit Agreement (Parenthetical) (Details) - USD ($)	Jul. 10, 2019	Sep. 30, 2020	Sep. 30, 2019	Jul. 10, 2019	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Percentage of initial principal amount of the term loans					0.625%
Interest expense for the amortization of deferred debt issuance costs			$ 223,761	$ 215,658	$ 1,054,809
Interest Expense
Debt Instrument [Line Items]
Interest expense for the amortization of deferred debt issuance costs	$ 0	$ 400,000	$ 200,000	$ 200,000	$ 1,100,000
Revolving Credit Facility
Debt Instrument [Line Items]
Variable interest rate					3.65%	5.26%
Term Loan
Debt Instrument [Line Items]
Variable interest rate					3.65%	5.26%
Delayed Draw Term Loan
Debt Instrument [Line Items]
Variable interest rate					3.65%	5.26%

Borrowings - Summary of Princip

Borrowings - Summary of Principal Maturities of Long-term Debt (Details) - USD ($)		Sep. 30, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
2020		$ 1,690,162
2021		6,760,650
2022		13,250,812
2023		19,561,462
2024		20,056,949
2025		203,049,624
Total borrowings under credit facility	[1]	$ 264,369,659	$ 218,937,500
[1]	The Term Loan, Delayed Draw Term Loan and Revolving Credit Facility bear interest, at variable rates, which were 3.65% and 5.26% at September 30, 2020 and December 31, 2019, respectively

Derivative Instruments - Additi

Derivative Instruments - Additional Information (Details) - USD ($)	Feb. 21, 2020	Oct. 31, 2019	Sep. 30, 2020	Sep. 30, 2020	Feb. 29, 2020
Interest Rate Swap Agreement
Derivative Instruments Gain Loss [Line Items]
Notional amount		$ 140,000,000			$ 30,000,000
Variable-rate term loan			$ 170,000,000	$ 170,000,000
Regions Bank | Interest Rate Swap Agreement
Derivative Instruments Gain Loss [Line Items]
Notional amount		140,000,000
Variable-rate term loan		$ 140,000,000
Term of agreement		5 years
Pre-tax gain (loss) reclassified from accumulated other comprehensive income (loss) into interest expense			$ 500,000	$ 700,000
Regions Bank | Swap Transaction
Derivative Instruments Gain Loss [Line Items]
Notional amount	$ 30,000,000
Swap transaction inception date	Mar. 31, 2020
Swap transaction termination date	Feb. 10, 2025
Regions Bank | Swap Transaction | LIBOR
Derivative Instruments Gain Loss [Line Items]
Notional amount	$ 30,000,000

Derivative Instruments - Schedu

Derivative Instruments - Schedule of Outstanding Interest Rate Derivatives Designated as Cash Flow Hedges of Interest Rate Risk (Details) - Designated as Hedging Instrument - Cash Flow Hedging	9 Months Ended
	Sep. 30, 2020USD ($)
Interest Rate Swap at 1.598%
Derivative Instruments Gain Loss [Line Items]
Notional Amount	$ 140,000,000
Fixed Interest Rate	1.598%
Termination Date	Jul. 11, 2024
Interest Rate Swap at 1.331%
Derivative Instruments Gain Loss [Line Items]
Notional Amount	$ 30,000,000
Fixed Interest Rate	1.331%
Termination Date	Feb. 10, 2025

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Future Minimum Lease Payments (Details)	Sep. 30, 2020USD ($)
Commitments And Contingencies Disclosure [Abstract]
2020	$ 313,357
2021	1,104,876
2022	775,983
2023	394,081
2024	81,149
Total	$ 2,669,446

Schedule of Related Party Payab

Schedule of Related Party Payables (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Related party payables	$ 14,896,246	$ 14,571,266
TriSource
Related Party Transaction [Line Items]
Related party payables	4,000,000	2,250,000
APS Payments
Related Party Transaction [Line Items]
Related party payables		12,250,000
Ventanex
Related Party Transaction [Line Items]
Related party payables	4,300,000
cPayPlus
Related Party Transaction [Line Items]
Related party payables	6,500,000
Other Payables to Related Parties
Related Party Transaction [Line Items]
Related party payables	$ 96,246	$ 71,266

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($) $ in Millions	Jul. 10, 2019	Sep. 30, 2020	Sep. 30, 2019	Jul. 10, 2019	Sep. 30, 2020
Related Party Transaction [Line Items]
Transaction costs incurred on behalf of related parties		$ 0.9	$ 0.6		$ 1.9
Selling, General and Administrative Expenses
Related Party Transaction [Line Items]
Management fees	$ 0			$ 0.2

Share Based Compensation - Addi

Share Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	Jul. 11, 2019	Jul. 10, 2019	Sep. 30, 2020	Sep. 30, 2019	Jul. 10, 2019	Sep. 30, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation expense related to unvested RSAs and RSUs			$ 22.8	$ 25		$ 22.8
Weighted-average period related to unvested RSAs and RSUs				5 years 4 months 6 days		2 years 9 months 14 days
Share based compensation expense			$ 5.8	$ 9.8		$ 14.8
Vested, Units	9,171				9,460
Weighted average grant date fair value	$ 180.87				$ 182.83
Selling, General and Administrative Expenses
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation expense		$ 0.7			$ 0.9
2019 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for issuance			7,326,728			7,326,728

Share Based Compensation - Sche

Share Based Compensation - Schedule of Outstanding Restricted Stock Awards And Restricted Stock Units Activity (Details) - Restricted Stock Award (RSAs) And Restricted Stock Units (RSU) - Class A Common Stock - $ / shares		3 Months Ended	9 Months Ended
		Sep. 30, 2019	Sep. 30, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested, Beginning Balance			1,818,675
Granted		3,000,229	1,148,844
Forfeited	[1]	152,976	47,847	[2]
Vested		575,301	501,818
Unvested, Ending Balance		2,271,952	2,417,854
Weighted average grant date fair value, Beginning Balance			$ 12.39
Weighted average grant date fair value, Granted		$ 11.73	17.36
Weighted average grant date fair value, Forfeited	[1]	11.82	13.56	[2]
Weighted average grant date fair value, Vested		11.64	12.01
Weighted average grant date fair value, Ending Balance		$ 11.75	$ 23.33
[1]	Upon vesting, award-holders elected to sell shares to the Company in order to satisfy the associated tax obligations. The awards are not deemed outstanding; further, these forfeited shares are added back to the amount of shares available for grant under the 2019 Equity Incentive Plan.
[2]	The forfeited shares include employee terminations during the nine months ended September 30, 2020; further, these forfeited shares are added back to the amount of shares available for grant under the 2019 Equity Incentive Plan.

Share Based Compensation - Summ

Share Based Compensation - Summary of Changes in Non-Vested Units Outstanding (Details) - $ / shares	Jul. 11, 2019	Jul. 10, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Non-vested units, Beginning Balance		9,460
Vested, Units	(9,171)	(9,460)
Weighted average fair value per unit, Beginning Balance		$ 182.83
Weighted average fair value per unit, Vested	$ (180.87)	$ (182.83)

Taxation - Additional Informati

Taxation - Additional Information (Details) - USD ($)	Jul. 11, 2019	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020
Taxation [Line Items]
Effective tax rate		18.60%	14.60%	18.30%
Income tax benefit		$ 3,382,859	$ 2,719,402	$ 8,395,077
Combined federal and state statutory effective tax rate		24.00%	24.00%	24.00%
Change to valuation allowance				$ 0
Deferred tax assets, net		$ 128,294,164		128,294,164
Additional deferred tax asset (DTA) and offsetting deferred tax liability (DTL) amount				$ 23,000,000
Percentage of valuation allowance recognized		100.00%		100.00%
Uncertain tax positions		$ 0		$ 0
Percentage of tax benefits payable under Tax Receivable Agreement	100.00%
Liability related to projected obligations under Tax Receivable Agreement		$ 222,900,000		$ 222,900,000
Corsair
Taxation [Line Items]
Post-merger repay units acquired		14,364,816		19,564,816
Hawk Parent
Taxation [Line Items]
Post-merger repay units exchanged		1,579,330		1,579,330

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($)	Nov. 05, 2020	Oct. 27, 2020	Sep. 30, 2020
Subsequent Event [Line Items]
Business acquisition closing date			Nov. 2, 2020
Subsequent Event | Delayed Draw Term Loan | Amendment Credit Facility
Subsequent Event [Line Items]
Line of credit maximum borrowing capacity	$ 60,000,000
Line of credit facility, expiration date	2021-08
CPS Payment Services | Subsequent Event
Subsequent Event [Line Items]
Acquisition date		Oct. 27, 2020
CPS Payment Services | Subsequent Event | Maximum
Subsequent Event [Line Items]
Payments made to acquire business		$ 93,000,000
Performance-based earnouts payment		$ 15,000,000