Repay (RPAY) 10-K 1 Mar 22 2021 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2021	Feb. 22, 2022	Jun. 30, 2021
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Document Period End Date	Dec. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
ICFR Auditor Attestation Flag	true
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 Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Filer Category	Large Accelerated Filer
Entity File Number	001-38531
Entity Shell Company	false
Entity Emerging Growth Company	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 Public Float			$ 2,120,867,217
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
Auditor Name	Grant Thornton LLP
Auditor Firm ID	248
Auditor Location	Philadelphia, Pennsylvania
Documents Incorporated by Reference	The registrant has incorporated by reference into Part III of this report certain portions of either an amendment to this Form 10-K or its proxy statement for its 2022 Annual Meeting of Shareholders, which are expected to be filed within 120 days after the end of the registrant’s fiscal year ended December 31, 2021.
Class A Common Stock
Entity Common Stock, Shares Outstanding		90,455,315
Class V Common Stock
Entity Common Stock, Shares Outstanding		100

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)		Dec. 31, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents		$ 50,048,657	$ 91,129,888
Accounts receivable		33,235,745	21,310,724
Prepaid expenses and other		12,427,032	6,925,115
Total current assets		95,711,434	119,365,727
Property, plant and equipment, net		3,801,199	1,628,439
Restricted cash		26,291,269	15,374,846
Intangible assets, net		577,693,902	369,227,138
Goodwill		824,081,632	458,970,255
Operating lease right-of-use assets, net		10,499,751	10,074,506
Deferred tax assets		145,259,883	135,337,229
Other assets		2,499,996
Total noncurrent assets		1,590,127,632	990,612,413
Total assets		1,685,839,066	1,109,978,140
Liabilities
Accounts payable		20,082,651	11,879,638
Related party payable		17,394,125	15,811,597
Accrued expenses		26,819,083	19,216,258
Current maturities of long-term debt	[1]		6,760,650
Current operating lease liabilities		1,990,416	1,527,224
Current tax receivable agreement		24,495,556	10,240,310
Other current liabilities		1,565,931
Total current liabilities		92,347,762	65,435,677
Long-term debt, net of current maturities		448,484,696	249,952,746
Noncurrent operating lease liabilities		9,090,867	8,836,655
Tax receivable agreement, net of current portion		221,332,863	218,987,795
Other liabilities		1,547,087	10,583,196
Total noncurrent liabilities		680,455,513	488,360,392
Total liabilities		772,803,275	553,796,069
Commitments and contingencies (Note 12)
Stockholders' equity
Additional paid-in capital		1,100,012,082	691,675,072
Accumulated other comprehensive loss		(2,205)	(6,436,763)
Accumulated deficit		(226,015,886)	(175,931,713)
Total Repay stockholders' equity		874,002,841	509,313,721
Non-controlling interests		39,032,950	46,868,350
Total equity		913,035,791	556,182,071
Total liabilities and equity		1,685,839,066	1,109,978,140
Class A Common Stock
Stockholders' equity
Common stock value		$ 8,850	$ 7,125
[1]	Pursuant to the terms of the Amended Credit Agreement, the Company was 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) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Class A Common Stock
Common shares, par value	$ 0.0001	$ 0.0001
Common shares, shares authorized	2,000,000,000	2,000,000,000
Common shares, shares issued	88,502,621	71,244,682
Common shares, shares outstanding	88,502,621	71,244,682
Class V Common Stock
Common shares, par value	$ 0.0001	$ 0.0001
Common shares, shares authorized	1,000	1,000
Common shares, shares issued	100	100
Common shares, shares outstanding	100	100

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	6 Months Ended		12 Months Ended
	Dec. 31, 2019	Jul. 10, 2019	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Revenue	$ 57,560,470	$ 47,042,917	$ 219,258,038	$ 155,035,943
Operating Expenses
Costs of services	15,656,730	10,216,079	55,483,804	41,447,056
Selling, general and administrative	45,758,335	51,201,322	120,052,895	87,301,814
Depreciation and amortization	23,756,888	6,222,917	89,691,707	60,806,659
Change in fair value of contingent consideration			5,845,626	(2,510,000)
Impairment loss			2,180,000
Total operating expenses	85,171,953	67,640,318	273,254,032	187,045,529
Loss from operations	(27,611,483)	(20,597,401)	(53,995,994)	(32,009,586)
Other (expense) income
Interest expense	(5,921,893)	(3,145,167)	(3,679,116)	(14,445,000)
Loss on extinguishment of debt			(5,940,600)
Change in fair value of warrant liabilities	(15,258,497)			(70,827,214)
Change in fair value of tax receivable liability	(1,638,465)		(14,109,063)	(12,439,485)
Other income (expense)	(1,379,824)	38	96,505	(2,985)
Other loss			(9,099,451)
Total other expense	(24,198,679)	(3,145,129)	(32,731,725)	(97,714,684)
Loss before income tax benefit	(51,810,162)	(23,742,530)	(86,727,719)	(129,724,270)
Income tax benefit	4,990,989		30,691,156	12,358,025
Net loss	(46,819,173)	(23,742,530)	(56,036,563)	(117,366,245)
Less: Net loss attributable to non-controlling interests	(15,271,043)		(5,952,390)	(11,769,683)
Net loss attributable to the Company	$ (31,548,130)	$ (23,742,530)	$ (50,084,173)	$ (105,596,562)
Loss per Class A share attributable to the Company:
Basic and diluted	$ (0.88)		$ (0.60)	$ (2.02)
Weighted-average shares outstanding:
Basic and diluted	35,731,220		83,318,189	52,180,911

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($)	6 Months Ended		12 Months Ended
	Dec. 31, 2019	Jul. 10, 2019	Dec. 31, 2021	Dec. 31, 2020
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (46,819,173)	$ (23,742,530)	$ (56,036,563)	$ (117,366,245)
Other comprehensive (loss) income, before tax
Change in fair value of cash flow hedges	555,449			(9,867,782)
Reclassification of net unrealized loss on cash flow hedges to other loss			9,317,244
Foreign currency translation adjustments			(3,020)
Total other comprehensive (loss) income, before tax	555,449		9,314,224	(9,867,782)
Income tax related to items of other comprehensive income:
Tax benefit (expense) on change in fair value of cash flow hedges	(54,303)			1,672,742
Tax expense on reclassification of net unrealized loss on cash flow hedges to other loss			(1,672,742)
Tax benefit on foreign currency translation adjustments			815
Total income tax benefit (expense) on related to items of other comprehensive income	(54,303)		(1,671,927)	1,672,742
Total other comprehensive (loss) income, net of tax	501,146		7,642,297	(8,195,040)
Total comprehensive loss	(46,318,027)	(23,742,530)	(48,394,266)	(125,561,285)
Less: Comprehensive loss attributable to non-controlling interests	(15,027,371)		(4,744,651)	(14,668,288)
Comprehensive loss attributable to the Company	$ (31,290,656)	$ (23,742,530)	$ (43,649,616)	$ (110,892,997)

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($)	Total	Common StockClass A Common Stock	Common StockClass A Common StockFounder	Common StockClass V Common Stock	Additional Paid-in Capital	Additional Paid-in CapitalFounder	Retained Earnings	AOCI Attributable to Parent	Noncontrolling Interest
Balance at Dec. 31, 2018	$ 109,078,357
Net loss	(23,742,530)
Stock based compensation	908,978
Distribution to members	(6,904,991)
Balance at Jul. 10, 2019	79,339,814
Balance at Jul. 11, 2019	474,198,687	$ 3,343			$ 290,408,807		$ (37,588,827)		$ 221,375,364
Balance, shares at Jul. 11, 2019		33,430,259		100
Release of shares			$ 297			$ (297)
Release of Shares, share			2,965,000
Release of share awards vested under Incentive Plan		$ 113			(113)
Release of share awards vested under Incentive Plan, shares		1,135,291
Treasury shares repurchased	(4,507,544)				(4,507,544)
Stock-based compensation	22,013,286				22,013,286
Warrant exercise	207				207
Warrant exercise, shares		18
Tax distribution from Hawk Parent	(185,957)								(185,957)
Reclassification to warrant liabilities	(25,557,422)				(24,359,228)		(1,198,194)
Net loss	(46,819,173)						(31,548,130)		(15,271,043)
Other comprehensive income (loss)	557,068							$ 313,397	243,671
Balance at Dec. 31, 2019	419,699,152	$ 3,753			283,555,118		(70,335,151)	313,397	206,162,035
Balance, shares at Dec. 31, 2019		37,530,568		100
Issuance of new shares	509,900,193	$ 2,356			514,451,331			(99,022)	(4,454,472)
Issuance of new shares, shares		23,564,816
Exchange of Post-Merger Repay Units	(161)	$ (161)			(10,065,244)			228,090	9,837,154
Exchange of Post-Merger Repay Units Shares		1,606,647
Redemption of Post-Merger Repay Units	(435,296,258)				(311,736,352)			(2,614,996)	(120,944,910)
Release of share awards vested under Incentive Plan		$ 52			(52)
Release of share awards vested under Incentive Plan, shares		516,398
Treasury shares repurchased	(1,414,732)				(1,431,172)			376	16,064
Stock-based compensation	19,445,800				20,489,298			(15,759)	(1,027,739)
Warrant exercise	86,799,717	$ 803			92,178,915			(124,570)	(5,255,431)
Warrant exercise, shares		8,026,253
Tax distribution from Hawk Parent	(1,496,213)								(1,496,213)
Valuation allowance on Ceiling Rule DTA	(27,537,597)				(27,540,391)			2,794
Reclassification to warrant liabilities	111,643,133				111,643,133
Net loss	(117,366,245)						(105,596,562)		(11,769,683)
Other comprehensive income (loss)	(8,195,040)							(3,670,893)	(4,524,147)
Balance at Dec. 31, 2020	556,182,071	$ 7,125			691,675,072		(175,931,713)	(6,436,763)	46,868,350
Balance, shares at Dec. 31, 2020		71,244,682		100
Issuance of new shares	370,348,361	$ 1,629			371,048,331				(701,599)
Issuance of new shares, shares		16,295,802
Exchange of Post-Merger Repay Units	(2,497,895)	$ 41			(166,450)				(2,331,486)
Exchange of Post-Merger Repay Units Shares		407,584
Release of share awards vested under Incentive Plan		$ 55			(55)
Release of share awards vested under Incentive Plan, shares		554,553
Treasury shares repurchased	(4,041,923)				(4,074,937)				33,014
Stock-based compensation	22,311,251				22,339,602				(28,351)
Tax distribution from Hawk Parent	(62,327)								(62,327)
Valuation allowance on Ceiling Rule DTA	19,190,519				19,190,519
Net loss	(56,036,563)						(50,084,173)		(5,952,390)
Other comprehensive income (loss)	7,642,297							6,434,558	1,207,739
Balance at Dec. 31, 2021	$ 913,035,791	$ 8,850			$ 1,100,012,082		$ (226,015,886)	$ (2,205)	$ 39,032,950
Balance, shares at Dec. 31, 2021		88,502,621		100

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	6 Months Ended		12 Months Ended
	Dec. 31, 2019	Jul. 10, 2019	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities
Net loss	$ (46,819,173)	$ (23,742,530)	$ (56,036,563)	$ (117,366,245)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	23,756,888	6,222,917	89,691,707	60,806,659
Stock based compensation	22,013,287	908,978	22,311,251	19,445,800
Amortization of debt issuance costs	570,671	215,658	2,536,075	1,416,012
Loss on disposal of property and equipment			19,039
Loss on extinguishment of debt			5,940,600
Loss on sale of interest rate swaps			9,315,854
Fair value change in warrant liability	15,258,497			70,827,214
Fair value change in tax receivable agreement liability	1,638,465		14,109,063	12,439,485
Fair value change in other assets and liabilities			5,845,626	(2,509,840)
Impairment loss			2,180,000
Payments of contingent consideration in excess of acquisition date fair value			(1,500,000)	(4,070,549)
Deferred tax benefit	(4,990,989)		(30,727,924)	(12,358,025)
Change in accounts receivable	779,008	(4,614,620)	(6,518,325)	(2,890,762)
Change in related party receivable	(563,084)			563,084
Change in prepaid expenses and other	(3,579,300)	(73,533)	(3,800,600)	541,639
Change in operating lease ROU assets			2,012,832	(10,074,506)
Change in accounts payable	2,656,630	1,297,035	4,771,635	38,185
Change in related party payable	14,571,266		1,335,688	(309,669)
Change in accrued expenses and other	(12,356,519)	28,136,310	637,056	370,343
Change in operating lease liabilities			(1,322,592)	10,363,879
Change in other liabilities			(7,470,178)	1,254,000
Net cash provided by operating activities	12,935,647	8,350,215	53,330,244	28,486,704
Cash flows from investing activities
Purchases of property and equipment	(498,513)	(203,026)	(2,862,903)	(994,147)
Purchases of intangible assets	(3,375,751)	(3,842,744)	(20,642,675)	(23,279,349)
Purchases of equity investment			(2,499,996)
Net cash used in investing activities	(335,083,842)	(4,045,770)	(397,335,004)	(145,980,474)
Cash flows from financing activities
Payment on line of credit	6,500,000			(10,000,000)
Issuance of long-term debt	210,000,000		460,000,000	60,425,983
Payments on long-term debt	(90,862,500)	(2,450,000)	(262,653,996)	(6,709,486)
Repurchase of outstanding warrants	(38,700,000)
Repurchase of treasury shares	(4,507,544)		(4,041,923)	(1,414,732)
Issuance of warrants	207
Exercise of warrants				86,799,717
Redemption of Post-Merger Repay Units				(435,296,258)
Distributions to Members	(185,957)	(6,904,991)	(62,327)	(1,496,213)
Payment of loan costs	(6,065,465)		(14,051,380)	(1,861,817)
Payments of contingent consideration up to acquisition date fair value			(7,448,786)	(14,250,000)
Net cash provided by (used in) financing activities	360,049,312	(9,354,991)	313,839,952	186,097,387
Increase (decrease) in cash, cash equivalents and restricted cash	37,901,117	(5,050,546)	(30,164,808)	68,603,617
Cash, cash equivalents and restricted cash at beginning of period		23,262,058	106,504,734	37,901,117
Cash, cash equivalents and restricted cash at end of period	37,901,117	18,211,512	76,339,926	106,504,734
Cash paid during the year for:
Interest	5,351,222	$ 2,929,509	1,143,040	11,486,760
Class A Common Stock
Cash flows from financing activities
Public issuance of Class A Common Stock	135,000,000		142,098,364	509,900,193
Transfer of cash from trust upon conversion of Thunder Bridge Class A ordinary shares	148,870,571
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 in exchange for Class A Common Stock	220,056,226
Acquisition of Hawk Parent in exchange for amounts payable under Tax Receivable Agreement	229,228,105
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	(59,160,005)
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
cPayPlus
Cash flows from investing activities
Acquisition, net of cash and restricted cash acquired				(7,694,632)
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES
Acquisition in exchange for contingent consideration				6,500,000
CPS
Cash flows from investing activities
Acquisition, net of cash and restricted cash acquired			10,779	(78,086,739)
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES
Acquisition in exchange for contingent consideration				4,500,000
APS
Cash flows from investing activities
Acquisition, net of cash and restricted cash acquired	(29,450,022)			(465,454)
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES
Acquisition in exchange for contingent consideration	$ 12,000,000			$ 6,580,549
Billing Tree
Cash flows from investing activities
Acquisition, net of cash and restricted cash acquired			(269,002,616)
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES
Acquisition in exchange for Class A Common Stock			228,250,000
Kontrol
Cash flows from investing activities
Acquisition, net of cash and restricted cash acquired			(7,439,373)
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES
Acquisition in exchange for contingent consideration			500,000
Payix
Cash flows from investing activities
Acquisition, net of cash and restricted cash acquired			(94,898,220)
SUPPLEMENTAL SCHEDULE OF NONCASH INVESTING AND FINANCING ACTIVITIES
Acquisition in exchange for contingent consideration			$ 2,850,000

Organizational Structure and Co

Organizational Structure and Corporate Information	12 Months Ended
	Dec. 31, 2021
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. Thunder Bridge issued public warrants and private placement warrants (collectively, the “Warrants”), which were outstanding and recorded on the Company’s consolidated financial statements at the time of the Business Combination. On July 27, 2020, the Company completed the redemption of all outstanding Warrants. 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 January 19, 2021, the Company completed an underwritten public offering (the “Equity Offering”) of 6,244,500 shares of its Class A common stock at a public offering price of $24.00 per share. 814,500 shares of such Class A common stock were sold in the Equity Offering in connection with the full exercise of the underwriters’ option to purchase additional shares of Class A common stock pursuant to the underwriting agreement. On January 19, 2021, the Company also completed an offering of $440.0 million in aggregate principal amount of 0.00% Convertible Senior Notes due 2026 (the “2026 Notes”) in a private placement (the “Notes Offering”) to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. $40.0 million in aggregate principal amount of such 2026 Notes were sold in the Notes Offering in connection with the full exercise of the initial purchasers’ option to purchase such additional 2026 Notes pursuant to the purchase agreement. The Notes will mature on February 1, 2026, unless earlier converted, repurchased or redeemed. On June 15, 2021, the Company acquired all of the equity interests of BT Intermediate, LLC (together with its subsidiaries, “BillingTree”) for approximately $505.8 million, consisting of approximately $277.5 million in cash from the Company’s balance sheet and approximately 10 million shares of newly issued Class A common stock, representing approximately 10% of the voting power of the Company’s outstanding shares of common stock. On June 22, 2021, the Company acquired substantially all of the assets of Kontrol LLC (“Kontrol”) for up to $10.5 million, of which approximately $7.4 million was paid at closing. The acquisition was financed with cash on hand. On December 29, 2021, the Company acquired Payix Holdings Incorporated (together with its subsidiary, “Payix”) for up to $115.0 million, which includes $95.6 million paid at closing and up to $20.0 million in performance-based earnouts. The acquisition was financed with cash on hand and available revolver capacity. Business Overview The Company provides integrated payment processing solutions to industry-oriented markets in which businesses have specific transaction processing needs. The Company refers to these markets as “vertical markets” or “verticals.” The Company’s proprietary, integrated payment technology platform reduces the complexity of the electronic payments process for business. The Company charges its clients processing fees based on the volume of payment transactions processed and other transaction or service fees. The Company intends to continue to strategically target verticals where the Company believes its ability to tailor payment solutions to its clients’ needs, its deep knowledge of the Company’s vertical markets and the embedded nature of its integrated payment solutions will drive strong growth by attracting new client s and fostering long-term client relationships. The Company provides payment processing solutions to clients primarily operating in the personal loans, automotive loans, receivables management, and business-to-business verticals. The Company’s payment processing solutions enable consumers and businesses in these verticals to make payments using electronic payment methods, rather than cash or check, which have historically been the primary methods of payment in these verticals. The Company believes that a growing number of consumers and businesses prefer the convenience and efficiency of paying with cards and other electronic methods and that the Company is poised to benefit from the significant growth opportunity of electronic payment processing as these verticals continue to shift from cash and check to electronic payments. The personal loans vertical is predominately characterized by installment loans, which are typically utilized by consumers to finance everyday expenses. The automotive loans vertical predominantly includes subprime automotive loans, automotive title loans and automotive buy-here-pay-here loans and also includes near-prime and prime automotive loans. The Company’s receivables management vertical relates to consumer loan collections, which typically enter the receivables management process due to delinquency on credit card bills or as a result of major life events, such as job loss or major medical issues. The business-to-business vertical relates to transactions occurring between a wide variety of enterprise clients, many of which operate in the manufacturing, wholesale, distribution, healthcare, and education industries. The Company’s go-to-market strategy combines direct sales with integrations with key software providers in its target verticals. The integration of the Company’s technology with key software providers in the verticals that the Company serves, including loan management systems, DMS, collection management systems, and enterprise resource planning software systems, allows the Company to embed its omni-channel payment processing technology into its clients’ critical workflow software and ensure seamless operation of the Company’s solutions within its clients’ enterprise management systems. The Company refers to these software providers as its “software integration partners.” This integration allows the Company’s sales force to readily access new client opportunities or respond to inbound leads because, in many cases, a business will prefer, or in some cases only consider, a payments provider that has already integrated or is able to integrate its solutions with the business’ primary enterprise management system. The Company has successfully integrated its technology solutions with numerous, widely-used enterprise management systems in the verticals that it serves, which makes its platform a more compelling choice for the businesses that use them. Moreover, the Company’s relationships with its partners help it to develop deep industry knowledge regarding trends in client needs. The Company’s integrated model fosters long-term relationships with its clients, which supports its volume retention rates that the Company believes are above industry averages. As of December 31, 2021, the Company maintained approximately 222 integrations with various software providers. In March 2020, the World Health Organization declared the outbreak of the COVID-19 virus a global pandemic. The ultimate impacts of the COVID-19 pandemic and related economic conditions on the Company’s results remain uncertain. The scope, duration and magnitude of the direct and indirect effects of the COVID-19 pandemic continue to evolve and in ways that are difficult to fully anticipate. At this time, the Company cannot reasonably estimate the full impact of the pandemic on the Company, given the uncertainty over the duration and severity of the economic crisis. As previously disclosed in Company’s Annual Report on Form 10-K for the year ended December 31, 2020, as amended, the Company restated its previously issued consolidated financial statements for periods following the Business Combination through December 31, 2020 to make accounting corrections related to Warrant accounting. This Annual Report on Form 10-K reflects the restated consolidated financial statements as of December 31, 2020 and 2019, for the period from July 11, 2019 to December 31, 2019, for the year ended December 31, 2020 and the quarterly periods therein.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	2. Basis of Presentation and Summary of Significant Accounting Policies 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 (“TriSource”), LLC, Mesa Acquirer, LLC, CDT Technologies LTD, Viking GP Holdings, LLC, cPayPlus, LLC, CPS Payment Services, LLC, Media Payments, LLC, Custom Payment Systems, LLC, BT Intermediate, LLC, Electronic Payment Providers, LLC, Blue Cow Software, LLC, Hoot Payment Solutions, LLC, Internet Payment Exchange, LLC, Stratus Payment Solutions, LLC, Clear Payment Solutions, LLC, Harbor Acquisition LLC, and Payix Holdings Incorporated. All significant intercompany accounts and transactions have been eliminated in consolidation. Basis of Financial Statement Presentation The accompanying consolidated financial statements of the Company were prepared in accordance with generally accepted accounting principles in the United States of America (“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. Segment Reporting Operating segments are defined as components of an enterprise about which discrete financial information is available that is evaluated regularly by the chief operating decision maker, or decision-making group, in making decisions on how to allocate resources and assess performance for the organization. The Company’s chief decision maker is the Chief Executive Officer. The Company’s chief decision maker reviews consolidated operating results to make decisions about allocating resources and assessing performance for the entire Company. Accordingly, the Company has determined that it has one operating segment: Merchant services. There are no significant concentrations by state or geographical location, nor are there any significant individual client concentrations by balance. Cash and Cash Equivalents Cash and cash equivalents include cash on hand, demand deposit accounts, and short‑term investments with original maturities of three months or less. The Company maintains its cash in bank deposit accounts which, at times, may exceed federally insured limits. Restricted Cash Restricted cash consists of funds required to serve as security for services rendered by a service provider under a service provider agreement. Accounts Receivable Accounts receivable represent amounts due from clients and payment processors for services rendered. The Company has an established process for aging, provisioning and writing-off its uncollectible accounts receivable. Within this process the Company aggregates accounts receivable to the pools of receivables of similar risk characteristics. The allowance for credit losses on accounts receivables is estimated based on how long a receivable has been outstanding (e.g., under 30 days, 30–60 days, etc.). For accounts receivable outstanding more than 90 days, the Company evaluates and assesses whether the loss reserve percentage requires adjustment for reasonable and supportable forecast of relevant economic factors. As of December 31, 2021, the Company’s estimated credit losses on accounts receivable was immaterial. Concentration of Credit Risk The Company is highly diversified, and no single client represents greater than 10% of the business on a volume or profit basis. Earnings per Share Basic earnings per share of Class A common stock is computed by dividing net loss attributable to the Company by the weighted average number of shares of Class A common stock outstanding during the period. Diluted earnings per share of Class A common stock is computed by dividing net loss attributable to the Company, by the weighted average number of shares of Class A common stock outstanding adjusted to give effect to potentially dilutive elements. The Predecessor’s LLC membership structure included several different types of LLC interests including ownership interests and profits interests. The Company analyzed the calculation of earnings per unit by using the two‑class method and determined that it resulted in values that would not be meaningful to the users of these consolidated financial statements. Therefore, the Predecessor’s earnings per share information has not been presented for any period. Property and Equipment Property and equipment is carried at cost less accumulated depreciation and includes expenditures which substantially increase the useful lives of existing property and equipment. Maintenance, repairs, and minor renovations are charged to operations as incurred. When property and equipment is retired or otherwise disposed of, the related costs and accumulated depreciation are removed from their respective accounts, and any gain or loss on the disposition is credited or charged to operations. The Company provides for depreciation of property and equipment using the straight-line method designed to amortize costs over estimated useful lives as follows: Estimated Furniture, fixtures, and office equipment 5 years Computers 3 years Leasehold improvements 5 years The Company evaluates the recoverability of property and equipment at least annually or whenever events or changes in circumstances indicate that the carrying amount of property and equipment may not be recoverable. The evaluation of asset impairment requires the Company to make assumptions about future cash flows over the life of the asset being evaluated. These assumptions require significant judgment, and actual results may differ from assumed and estimated amounts. If the carrying amount of property and equipment is determined not to be recoverable, a write-down to fair value is recorded. No impairments were recognized for the years ended December 31, 2021 and 2020. Intangible Assets Intangible assets consist of internal-use software development costs, purchased software, channel relationships, client relationships, certain key personnel non-compete agreements, and trade names. The Company capitalizes internal-use software development costs when the Company has completed the preliminary project stage, management authorizes the project, management commits to funding the project, it is probable the project will be completed and the project will be used to perform the function intended. The Company is amortizing internal-use software development costs and purchased software on the straight‑line method over a three-year ten-year Goodwill Goodwill represents the excess of purchase price over tangible and intangible assets acquired less liabilities assumed arising from business combinations. Goodwill is generally allocated to reporting units based upon relative fair value (taking into consideration other factors such as synergies) when an acquired business is integrated into multiple reporting units. The Company’s reporting units are at the operating segment level or one level below the operating segment level for which discrete financial information is prepared and regularly reviewed by management. When a business within a reporting unit is disposed of, goodwill is allocated to the disposed business using the relative fair value method. Relative fair value is estimated using a discounted cash flow analysis. The Company performs a qualitative goodwill assessment at the reporting unit level at least annually, or more frequently as events occur or circumstances change that would more-likely-than-not reduce the fair value of a reporting unit below its carrying amount. Factors considered in the Company’s qualitative assessment include financial performance, financial forecasts, macroeconomic conditions, industry and market conditions, cost factors, market capitalization, carrying value, and events affecting the reporting units. If, after considering all relevant events and circumstances, the Company determines it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount, then it is necessary to perform a quantitative impairment test. If the Company elects to bypass the qualitative analysis, or concludes from the Company’s qualitative analysis that it is more-likely - than-not that the fair value of a reporting unit is less than its carrying amount, a quantitative impairment test is performed by comparing the fair value of each reporting unit with its carrying amount. If the fair value is greater than the carrying amount, then the reporting unit’s goodwill is deemed not to be impaired. If the fair value is less than the carrying amount, an impairment loss is recognized for the amount by which a reporting unit’s carrying amount exceeds its fair value, without exceeding the total amount of goodwill allocated to that reporting unit. The Company determined that no impairment of goodwill existed as of the last testing date, December 31, 2021. Future impairment reviews may require write‑downs in the Company’s goodwill and could have a material adverse impact on the Company’s operating results for the periods in which such write‑downs occur. Revenue Repay provides integrated payment processing solutions to niche markets that have specific transaction processing needs; for example, personal loans, automotive loans, and receivables management. The Company contracts with its clients through contractual agreements that set forth the general terms and conditions of the service relationship, including rights of obligations of each party, line item pricing, payment terms and contract duration. Most of our 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 we provide. As our clients process increased volumes of payments, our revenues increase as a result of the fees we charge for processing these payments. The Company’s performance obligation in its contracts with clients is the promise to stand-ready to provide front-end authorization and back-end settlement payment processing services ("processing services") for an unknown or unspecified quantity of transactions and the consideration received is contingent upon the client’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 client, 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 clients’ transactions are processed. Revenues are also derived from transaction or service fees (e.g. chargebacks, gateway) as well as other miscellaneous service fees. These services are considered immaterial in the overall context of our contractual arrangements and, as such, do not represent distinct performance obligations. Instead, the fees associated with these services are bundled with the processing services performance obligation identified. The transaction price for such processing services is determined, based on the judgment of the Company’s management, considering factors such as margin objectives, pricing practices and controls, client segment pricing strategies, the product life cycle and the observable price of the service charged to similarly situated clients. The Company follows the requirements of ASC 606-10-55-36 through -40, Revenue from Contracts with Customers, Principal Agent Considerations The principal versus agent evaluation is matter of judgment that depends on the facts and circumstances of the arrangement and is dependent on whether the Company controls the good or service before it is transferred to the client or whether the Company is acting as an agent of a third party. This evaluation is performed separately for each performance obligation identified. When the Company acts as an agent, the fees collected from clients on behalf of the payment networks and card issuer is netted with the gross fees collected so that the net revenue is presented within Revenue in the Consolidated Statements of Operations. 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. Software Revenue As a result of the acquisition of BillingTree, the Company has acquired a software revenue stream. Software revenue is presented within Revenue in the Consolidated Statements of Operations. Software revenue consists of term license fees related to software products, and software maintenance and support (“PCS”). Clients typically enter into software contracts for contractual terms of three to twelve months. The term license and PCS are each distinct performance obligations. The total consideration in the contract is allocated based on management’s assessment of the relative standalone selling price for each performance obligation. The Company determines the standalone selling price based on the price at which the performance obligation is sold separately. If the standalone selling price is not observable through past transactions, the Company estimates the standalone selling price by making use of all reasonably available data such as market conditions, type of deliverable, information about the client, current and historical pricing practices and entity-specific factors such as labor hours and standard rates per labor hour. Revenue is recognized when the related performance obligations are satisfied. Revenue from the term license is recognized at a point in time, upon delivery to the client. Revenue from PCS is recognized over the term of the contract. When the Company receives an up-front deposit, the revenue is deferred until such a time that the term license or PCS is provided to the client. Deferred revenue is expected to be recognized as revenue within one year and is classified within Other current liabilities in the Consolidated Balance Sheets. 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 amortization period is consistent with the concept of useful life under other accounting guidance, which is defined as the period over which an asset is expected to contribute directly or indirectly to future cash flows. The Company currently incurs costs to obtain a contract through payments made to external referral partners. Commission payments are made to the external referral partner on a monthly basis based on a percentage of the profit on the contract, for as long as the client and the external referral partner have agreements with the Company. Any capitalized commission cost assets have an amortization period of one year or less, therefore the Company utilizes the practical expedient to expense commissions as incurred. Costs to fulfill contracts with clients either give rise to an asset or are expensed as incurred. If the cost is not already covered by other applicable accounting literature, fulfilment costs are capitalized to the extent they directly relate to a specific contract, are used to generate or enhance resources used in satisfying performance obligations and are expected to be recovered. The Company does not have any costs incurred to fulfill a contract. Practical Expedients The Company has utilized the portfolio approach practical expedient per ASC 606-10-10-4, which allows the application of ASC 606 to a portfolio of contracts with similar characteristics provided the accounting does not differ materially to application of ASC 606 to the individual contract. The Company has also utilized the practical expedient for immaterial goods and services per ASC 606-10-25-16A, which permits the Company not to recognize a promised good or service as a performance obligation if it is considered an immaterial promise in the context of the contract. Transaction Costs The Company expenses all transactions costs associated with a business combination as incurred and such expenses are included in Selling, general, and administrative expenses in the Consolidated Statements of Operations. For the years ended December 31, 2021 and 2020, the Company incurred $9.3 million and $4.2 million transaction costs, respectively. For the period from July 11, 2019 to December 31, 2019, the Successor incurred $3.9 million of transaction costs for closed and pending transactions. The Predecessor incurred transaction costs of $16.2 million Equity Units Awarded The Repay Holdings Corporation 2019 Omnibus Incentive Plan (the “Incentive Plan”) provides for the grant of various equity-based incentive awards to employees, directors, consultants and advisors to the Company. The types of equity-based awards that may be granted under the Incentive Plan include: stock options, stock appreciation rights (“SARs”), performance stock units (“PSUs”), restricted stock awards (“RSAs”), restricted stock units (“RSUs”), and other stock-based awards. As of December 31, 2021, there were 7,326,728 shares of Class A common stock reserved for issuance under the Incentive Plan. The Company accounts for stock-based compensation for employees and directors in accordance with ASC 718, Compensation (“ASC 718”). ASC 718 requires all share-based payments to employees to be recognized in the statement of operations based on their fair values. Under the provisions of ASC 718, stock-based compensation costs are measured at the grant date, based on the fair value of the award, and are recognized as expense over the employee’s requisite or derived service period. The Predecessor accounted for profit units awarded to management based on the fair value of the awards on the date of the grant and recognized compensation expense for those awards over the requisite service period. The profit interests granted under the profit unit plan of the Predecessor were estimated on the grant date using the Black‑Scholes option valuation model. The profits units were fully vested as of the Closing. PSUs, RSAs and RSUs granted under the Incentive Plan are measured based on the fair value of the awards on the date of the grant. Compensation expense is recognized for those awards over the requisite service period. Forfeitures are accounted for as they occur. Debt Issuance Costs The Company accounts for debt issuance costs according to the Financial Accounting Standards Board Accounting Standards Update 2015-03, Simplifying the Presentation of Debt Issuance Costs Fair Value of Financial Instruments The Company accounts for fair value measurements in accordance with ASC 820, Fair Value Measurements and Disclosures • Level 1 — Quoted prices for identical instruments in active markets. • Level 2 — Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. • Level 3 — Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable in active exchange markets. The carrying value of the Company’s financial instruments, including cash and cash equivalents, restricted cash, accounts receivable and accounts payable approximated their fair values as of December 31, 2021, and 2020, because of the relatively short maturity dates on these instruments. The carrying amount of debt approximates fair value as of December 31, 2021 and 2020, because interest rates on these instruments approximate market interest rates. Leases The Company adopted ASC 842, Leases, using a modified retrospective transition approach as of January 1, 2020. The Company has elected to adopt the package of transition practical expedients and, therefore, has not reassessed (1) whether existing or expired contracts contain a lease, (2) lease classification for existing or expired leases or (3) the accounting for initial direct costs that were previously capitalized. The Company also elected the practical expedient to use hindsight for leases existing as of January 1, 2020. The Company evaluates each of its lease and service arrangements at inception to determine if the arrangement is, or contains, a lease and the appropriate classification of each identified lease. A lease exists if the Company obtains substantially all of the economic benefits of, and has the right to control the use of, an asset for a period of time. The Company has operating leases for real estate. Operating leases with an original lease term in excess of twelve months are included in Other assets and Other liabilities in the Consolidated Balance Sheets. Right-of-use (“ROU”) assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. The Company uses its incremental borrowing rate to calculate the present value of lease payments. Lease terms consider options to extend or terminate based on the determination of whether such renewal or termination options are deemed reasonably certain. Lease agreements that contain non-lease components are generally accounted for as a single lease component. Operating lease costs are recorded in Selling, general and administrative in the Consolidated Statements of Operations based on the underlying asset. Variable costs, such as maintenance expenses, property and sales taxes, association dues and index-based rate increases, are expensed as they are incurred. Variable lease payments associated with the Company’s leases are recognized when the event, activity, or circumstance in the lease agreement on which those payments are assessed occurs. Variable lease payments are presented as operating expenses in Selling, general and administrative in the Consolidated Statements of Operations. The Company has elected not to recognize ROU assets and lease liabilities for short-term leases of all applicable class of underlying assets that have a lease term of twelve months or less. The Company recognizes the lease payments associated with its short-term leases as an expense on a straight-line basis over the lease term. Variable lease payments associated with these leases are recognized and presented in the same manner as for all other Company leases. ROU assets for operating leases are periodically reduced by impairment losses. As of December 31, 2021, the Company has not encountered any impairment losses. The Company monitors for events or changes in circumstances that require a reassessment of a lease. When a reassessment results in the remeasurement of a lease liability, a corresponding adjustment is made to the carrying amount of the corresponding ROU asset unless doing so would reduce the carrying amount of the ROU asset to an amount less than zero. In that case, the amount of the adjustment that would result in a negative ROU asset balance is recorded in gain or loss in the Consolidated Statements of Operations. Taxation Income taxes are provided for in accordance with ASC 740. Deferred tax assets and liabilities are recognized for the expected future tax consequences attributable to net operating losses, tax credits, and temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period of the enactment date. Valuation allowances are established when it is more likely than not that some or all of the deferred tax assets will not be realized. The Company reports a liability or a reduction of deferred tax assets for unrecognized tax benefits resulting from uncertain tax positions taken or expected to be taken in a tax return. When applicable, the Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. Noncontrolling Interest As of December 31, 2021, the Company held an 91.9% interest in Hawk Parent. F Contingent Consideration The Company estimates and records the acquisition date estimated fair value of contingent consideration as part of purchase price consideration for acquisitions. Additionally, each reporting period, the Company estimates changes in the fair value of contingent consideration, and any change in fair value is recognized in the Consolidated Statements of Operations. An increase in the contingent consideration expected to be paid will result in a charge to operations in the period that the anticipated fair value of contingent consideration increases, while a decrease in the earn-out expected to be paid will result in a credit to operations in the period that the anticipated fair value of contingent consideration decreases. The estimate of the fair value of contingent consideration requires subjective assumptions to be made of future operating results, discount rates, and probabilities assigned to various potential operating result scenarios. Recently Adopted Accounting Pronouncements Accounting for Income Taxes In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes Income Taxes (Topic 740) The Company adopted ASU 2019-12 as of January 1, 2021, using a modified retrospective transition approach. The adoption of this ASU did not have a material impact on the Company’s consolidated financial statements or related disclosures. Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity In August 2020, the FASB issued ASU Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity, ASC Topic No. 470 Debt ASC Topic No. 815 Derivatives and Hedging ASC Topic No. 260 Earnings Per Share ASU 2020-06 is effective for public companies beginning January 1, 2022, including interim periods within the fiscal years after the adoption date. Early adoption is also permitted beginning January 1, 2021, including interim periods within those fiscal years. The Company early adopted ASU 2020-06 as of January 1, 2021. The Company issued the 2026 Notes in January 2021, which resulted in recognition of $440.0 million in noncurrent long-term debt and $11.4 million in debt issuance costs. In determining the impact of the 2026 Notes on the Company’s diluted earnings per share calculations, the Company applies the if-converted method. For additional information and required disclosures related to 2026 Notes, see Note 10. Borrowings. Recently Issued Accounting Pronouncements not yet Adopted Business Combinations In August 2021, the FASB issued ASU No. 2021-08, “ Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers Revenue (Topic 606)

Revenue

Revenue	12 Months Ended
	Dec. 31, 2021
Revenue From Contract With Customer [Abstract]
Revenue	3. Revenue Disaggregation of Revenue The table below presents a disaggregation of revenue by direct and indirect relationships. Year Ended December 31, 2021 Year Ended December 31, 2020 From July 11, 2019 to December 31, 2019 From January 1, 2019 to July 10, 2019 (Successor) (Predecessor) Revenue Direct relationships $213,251,782 $152,247,190 $56,370,030 $45,693,961 Indirect relationships 6,006,256 2,788,753 1,190,440 1,348,956 Total Revenue $219,258,038 $155,035,943 $57,560,470 $47,042,917

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Earnings Per Share	4 . Earnings Per Share During the years ended December 31, 2021 and 2020, and the period from July 11, 2019 to December 31, 2019, basic and diluted net loss per common share is the same since the inclusion of the assumed exchange of all Post-Merger Repay Units, unvested restricted share awards, Warrants and 2026 Notes 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: Year Ended December 31, 2021 Year Ended December 31, 2020 From July 11, 2019 to December 31, 2019 Loss before income tax expense $(86,727,719) $(129,724,270) $(51,810,162) Less: Net loss attributable to non-controlling interests (5,952,390) (11,769,683) (15,271,043) Income tax benefit 30,691,156 12,358,025 4,990,989 Net loss attributable to the Company $(50,084,173) $(105,596,562) $(31,548,130) Weighted average shares of Class A common stock outstanding - basic and diluted 83,318,189 52,180,911 35,731,220 Loss per share of Class A common stock outstanding - basic and diluted $(0.60) $(2.02) $(0.88) For the years ended December 31, 2021 and 2020, and the period from July 11, 2019 to December 31, 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: Year Ended December 31, 2021 Year Ended December 31, 2020 From July 11, 2019 to December 31, 2019 Post-Merger Repay Units exchangeable for Class A common stock 7,926,576 8,334,160 21,985,297 Earnout Post-Merger Repay Units exchangeable for Class A common stock — — 7,500,000 Dilutive warrants exercisable for Class A common stock — — 1,816,890 Unvested restricted share awards of Class A common stock 2,515,634 2,209,551 1,731,560 2026 Notes convertible for Class A common stock 13,095,238 — — Share equivalents excluded from earnings (loss) per share 23,537,448 10,543,711 33,033,747 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	12 Months Ended
	Dec. 31, 2021
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 Business Combination, (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 of the Business Combination (“Earnout 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. At any time after the six month anniversary of the closing of the Business Combination, pursuant to the terms of the Exchange Agreement, each holder of a Post-Merger Repay Unit will be 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 of the Business Combination 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 a Tax Receivable Agreement (“Tax Receivable Agreement” or “TRA”) between the Company and the selling Hawk Parent members, 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) The Company issued 22,045,297 shares of Post-Merger Repay Units valued at $10.00 per share as of July 11, 2019. (2) Reflects the fair value of Earnout Units, the contingent consideration paid to the selling members of Hawk Parent, pursuant to the Merger Agreement. The Company reflected this as noncontrolling interests on its balance sheet. The Repay Unitholders received 7,500,000 Earnout Units based on the stock price of the Company. (3) f 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 recognized of $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, of which $279.2 million is expected to be deductible for tax purposes. 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. TriSource 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 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 could result in an additional payment to the former owners of TriSource of up to $5.0 million. The TriSource acquisition 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 recognized of $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, of which $32.2 million is expected to be deductible for tax purposes. 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 On October 14, 2019, the Company acquired substantially all of the assets of APS for $30.5 million in cash. In addition to the cash consideration, the APS selling equity holders may be entitled to a total of $30.0 million in three separate cash earnout payments, dependent on the achievement of certain growth targets. 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’ 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 recognized 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, of which $21.7 million is expected to be deductible for tax purposes. 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. Ventanex On February 10, 2020, the Company acquired all of the ownership interests of Ventanex. The following summarizes the 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 an 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 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 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 recognized 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, of which $8.3 million is expected to be deductible for tax purposes . 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 $8.0 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 $8.0 million. 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 purchase consideration paid to the selling members of cPayPlus: Cash consideration $7,956,963 Contingent consideration (1) 6,500,000 Total purchase price $14,456,963 (1) The Company recorded an 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 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 6,713,646 Total purchase price $14,456,963 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 $0.1 5 Trade names 0.1 Indefinite Developed technology 6.7 3 Merchant relationships 0.8 10 $7.7 Goodwill recognized of $6.7 million represents the excess of the gross consideration transferred over the fair value of the underlying net tangible and identifiable intangible assets acquired, of which $8.2 million is expected to be deductible for tax purposes. 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. CPS On November 2, 2020, the Company acquired all of the ownership interests of CPS. Under the terms of the securities purchase agreement between Repay Holdings, LLC and the direct and indirect owners of CPS. (“CPS Purchase Agreement”), the aggregate consideration paid at closing by the Company was approximately $83.9 million in cash. In addition to the closing consideration, the CPS Purchase Agreement contains a performance-based earnout (the “CPS Earnout Payment”), which was based on future results of the acquired business and could result in an additional payment to the former owners of CPS of up to $15.0 million in two separate earnouts. The CPS acquisition was financed with cash on hand. The CPS Purchase Agreement contains customary representations, warranties and covenants by Repay and the former owners of CPS, 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 CPS: Cash consideration $83,886,556 Contingent consideration (1) 4,500,000 Total purchase price $88,386,556 (1) The Company recorded an allocation of the purchase price to CPS’ and MPI’s tangible and identifiable intangible assets acquired and liabilities assumed based on their fair values as of the November 2, 2020 closing date. The purchase price allocation is as follows: CPS MPI Cash and cash equivalents $1,667,066 $2,097,921 Accounts receivable 2,810,158 5,556,958 Prepaid expenses and other current assets 2,615,615 934,751 Total current assets 7,092,839 8,589,630 Property, plant and equipment, net 19,391 2,995 Restricted cash 407 35,318 Identifiable intangible assets 30,830,000 7,110,000 Total identifiable assets acquired 37,942,637 15,737,943 Accounts payable (2,004,371) (4,495,599) Accrued expenses (2,143,680) — Net identifiable assets acquired 33,794,586 11,242,344 Goodwill 40,747,939 2,601,687 Total purchase price $74,542,525 $13,844,031 The values allocated to identifiable intangible assets and their estimated useful lives are as follows: Fair Value (in millions) Useful life Identifiable intangible assets CPS MPI (in years) Non-compete agreements $0.1 $0.1 4 Trade names 0.5 0.1 Indefinite Developed technology 7.2 0.7 3 Merchant relationships 23.0 6.3 10 $30.8 $7.2 Goodwill recognized of $43.3 million represents the excess of the gross consideration transferred over the fair value of the underlying net tangible and identifiable intangible assets acquired, of which $38.8 million is expected to be deductible for tax purposes. 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 CPS. BillingTree On June 15, 2021, the Company acquired BillingTree. Under the terms of the agreement and plan of merger between BT Intermediate, LLC, the Company, two newly formed subsidiaries of the Company and the owner of BT Intermediate, LLC (“BillingTree Merger Agreement”), the aggregate consideration paid at closing by the Company was approximately $505.8 million, consisting of approximately $277.5 million in cash and approximately 10 million shares of Class A common stock. The BillingTree Merger Agreement contains customary representations, warranties and covenants by Repay and the former owner of BillingTree, 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 seller of BillingTree: Cash consideration $277,521,139 Class A common stock issued 228,250,000 Total purchase price $505,771,139 The Company recorded a preliminary allocation of the purchase price to BillingTree’s tangible and identifiable intangible assets acquired and liabilities assumed based on their fair values as of the June 15, 2021 closing date. The preliminary purchase price allocation is as follows: Cash and cash equivalents $8,243,570 Accounts receivable 3,623,894 Prepaid expenses and other current assets 1,601,854 Total current assets 13,469,318 Property, plant and equipment, net 541,244 Restricted cash 274,954 Other assets 1,782,489 Identifiable intangible assets 236,810,000 Total identifiable assets acquired 252,878,005 Accounts payable (2,552,251) Accrued expenses and other liabilities (6,982,919) Deferred tax liability (31,371,590) Net identifiable assets acquired 211,971,245 Goodwill 293,799,895 Total purchase price $505,771,140 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 $0.3 2 Trade names 7.8 Indefinite Developed technology 26.2 3 Merchant relationships 202.5 10 $236.8 Goodwill recognized of $293.8 million represents the excess of the gross consideration transferred over the fair value of the underlying net tangible and identifiable intangible assets acquired, of which $47.7 million is expected to be deductible for tax purposes. 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 BillingTree. BillingTree contributed $31.3 million to revenue and $(0.0) million in net income to the Company’s Consolidated Statements of Operations, from June 15, 2021 through December 31, 2021. Kontrol On June 22, 2021, the Company acquired substantially all of the assets of Kontrol LLC (“Kontrol”). Under the terms of the asset purchase agreement between a newly formed subsidiary of Repay Holdings, LLC and the owner of Kontrol (“Kontrol Purchase Agreement”), the aggregate consideration to be paid by the Company was up to $10.5 million, of which $7.4 million was paid at closing. The Kontrol Purchase Agreement contains customary representations, warranties and covenants by Repay and the former owner of Kontrol, 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 owner of Kontrol: Cash consideration $7,439,373 Contingent consideration (1) 500,000 Total purchase price $7,939,373 (1) The Company recorded a preliminary allocation of the purchase price to Kontrol’s tangible and identifiable intangible assets acquired and liabilities assumed based on their fair values as of the June 22, 2021 closing date. The preliminary purchase price allocation is as follows: Accounts receivable $67,510 Prepaid expenses and other current assets 5,572 Total current assets 73,082 Identifiable intangible assets 6,940,000 Total identifiable assets acquired 7,013,082 Accounts payable (664,932) Net identifiable assets acquired 6,348,150 Goodwill 1,591,223 Total purchase price $7,939,373 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) Trade names $0.0 Indefinite Merchant relationships 6.9 8 $6.9 Goodwill of $1.6 million represents the excess of the gross consideration transferred over the fair value of the underlying net tangible and identifiable intangible assets acquired, of which $1.1 million on a gross basis is expected to be deductible for tax purposes. 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 Kontrol. Kontrol contributed $1.7 million to revenue and $0.6 million in net income to the Company’s Consolidated Statements of Operations, from June 22, 2021 through December 31, 2021. Payix On December 29, 2021, the Company acquired Payix. Under the terms of the merger agreement with Payix. (“Payix Purchase Agreement”), the aggregate consideration paid at closing by the Company was approximately $95.6 million in cash. In addition to the closing consideration, the Payix Purchase Agreement contains a performance-based earnout (the “Payix Earnout Payment”), which was based on future results of the acquired business and could result in an additional payment to the former owners of Payix of up to $20.0 million. The Payix acquisition was financed with cash on hand and available revolver capacity. The following summarizes the preliminary purchase consideration paid to the sellers of Payix: Cash consideration $95,627,972 Contingent consideration (1) 2,850,000 Total purchase price $98,477,972 (1) The Company recorded a preliminary allocation of the purchase price to Payix’s tangible and identifiable intangible assets acquired and liabilities assumed based on their fair values as of the December 29, 2021 closing date. The preliminary purchase price allocation is as follows: Cash and cash equivalents $702,575 Accounts receivable 1,715,292 Prepaid expenses and other current assets 93,891 Total current assets 2,511,758 Property, plant and equipment, net 83,449 Restricted cash 27,177 Other assets 655,588 Identifiable intangible assets 33,150,000 Total identifiable assets acquired 36,427,972 Accounts payable (214,195) Accrued expenses and other liabilities (2,022,846) Deferred tax liability (6,943,998) Net identifiable assets acquired 27,246,933 Goodwill 71,231,039 Total purchase price $98,477,972 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) Trade names $0.3 Indefinite Developed technology 12.4 3 Merchant relationships 20.5 10 $33.2 Goodwill recognized of $71.2 million represents the excess of the gross consideration transferred over the fair value of the underlying net tangible and identifiable intangible assets acquired, none of which is expected to be deductible for tax purposes. 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 Payix. Payix contributed $ million to revenue and $ ( ) million in net income to the Company’s Consolidated Statements of Operations, from December 29, 2021 through December 31, 2021 . Measurement Period The preliminary purchase price allocations for the acquisitions of BillingTree, Kontrol, and Payix are based on initial estimates and provisional amounts. For the acquisitions completed during the year ended December 31, 2021, the Company continues to refine its inputs and estimates inherent in the valuation of intangible assets, deferred income taxes, realization of tangible assets and the accuracy and completeness of liabilities within the measurement period. Pro Forma Financial Information (Unaudited) The supplemental condensed consolidated results of the Company on an unaudited pro forma basis give effect to Ventanex, cPayPlus, CPS, BillingTree, Kontrol and Payix acquisitions as if the transactions had occurred on January 1, 2020. 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 Year Ended December 31, 2021 Pro Forma Year Ended December 31, 2020 Revenue $257,014,219 $234,656,115 Net loss (54,626,915) (120,849,273) Net loss attributable to non-controlling interests (5,813,388) (12,792,802) Net loss attributable to the Company (48,813,527) (108,056,471) Loss per Class A share - basic and diluted $(0.56) $(1.74)

Fair Value of Assets and Liabil

Fair Value of Assets and Liabilities	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value of Assets and Liabilities	6 . Fair Value of Assets and Liabilities The following table summarizes, by level within the fair value hierarchy, the carrying amounts and estimated fair values of our 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 9 and Note 10 for additional information on these assets and liabilities. December 31, 2021 Level 1 Level 2 Level 3 Total Assets: Other assets — 2,499,996 — 2,499,996 Total assets $ — $2,499,996 $ — $2,499,996 Liabilities: Contingent consideration $ — $ — $17,046,840 $17,046,840 Borrowings — 448,484,696 — 448,484,696 Tax receivable agreement — — 245,828,419 245,828,419 Total liabilities $ — $448,484,696 $262,875,259 $711,359,955 December 31, 2020 Level 1 Level 2 Level 3 Total Liabilities: Contingent consideration $ — $ — $15,800,000 $15,800,000 Borrowings — 256,713,396 — 256,713,396 Tax receivable agreement — — 229,228,105 229,228,105 Interest rate swap — 9,312,332 — 9,312,332 Total liabilities $ — $266,025,728 $245,028,105 $511,053,833 Other Assets Other assets contain a minority equity investment in a privately-held company. The Company elected a measurement alternative for measuring this investment, in which the carrying amount is adjusted based on any observable price changes in orderly transactions. The investment is classified as Level 2 as observable adjustments to value are infrequent and occur in an inactive market. 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 3.4% to 3.5% and weighted average of 3.4% 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. Year Ended December 31, 2021 Year Ended December 31, 2020 From July 11, 2019 to December 31, 2019 From January 1, 2019 to July 10, 2019 (Successor) (Predecessor) Balance at beginning of period $15,800,000 $14,250,000 $ — $1,816,988 Measurement period adjustment — 6,580,549 — — Purchases 4,350,000 15,800,000 14,250,000 — Payments (8,948,786) (18,320,549) — (1,816,988) Valuation adjustment 5,845,626 (2,510,000) — — Balance at end of period $17,046,840 $15,800,000 $14,250,000 $ — Borrowings The carrying value of the Company’s 2026 Notes, revolving credit facility and term loan is net of unamortized debt discount and debt issuance costs. The carrying amount of the Company’s borrowings approximates fair value because interest rates on these instruments approximate market interest rates. The fair value of Company’s borrowings is classified within Level 2 of the fair value hierarchy, as the market interest rates are generally observable and do not contain a high level of subjectivity. See Note 10 for further discussion on borrowings. Tax Receivable Agreement Upon the completion of the Business Combination, the Company entered into 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, also referred to as the early termination rate, to determine the present value, based on a risk-free rate plus a spread, pursuant to the TRA. A rate of 1.58% was applied to the forecasted TRA payments as of December 31, 2021, 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 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. Year Ended December 31, 2021 Year Ended December 31, 2020 From July 11, 2019 to December 31, 2019 From January 1, 2019 to July 10, 2019 (Successor) (Predecessor) Balance at beginning of period $229,228,105 $67,176,226 $ — $ — Purchases 2,491,251 149,612,393 67,176,226 — Payments — — — — Accretion expense 5,065,507 2,955,148 — — Valuation adjustment 9,043,556 9,484,338 — — Balance at end of period $245,828,419 $229,228,105 $67,176,226 $ — 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, then a revised notional amount of $65.0 million beginning on September 30, 2020. These interest rate swap agreements are to hedge changes in its cash flows attributable to interest rate risk on a combined $205.0 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 life of the agreement without an exchange of the underlying notional amount and was designated for accounting purposes as a cash flow hedge. The interest rate swap is carried at fair value on a recurring basis in the Consolidated Balance Sheets and is 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. Both interest rate swaps were settled in January 2021, with $6.4 million, net of taxes of $1.7 million reclassified from Accumulated other comprehensive loss into Other loss in the Consolidated Statements of Operations for the year ended December 31, 2021.

Property and Equipment

Property and Equipment	12 Months Ended
	Dec. 31, 2021
Property Plant And Equipment [Abstract]
Property and Equipment	7. Property and Equipment Property and equipment consisted of the following: December 31, December 31, 2021 2020 Furniture, fixtures, and office equipment $2,763,380 $1,112,702 Computers 3,408,336 1,733,672 Leasehold improvements 430,894 340,333 Total 6,602,610 3,186,707 Less: Accumulated depreciation and amortization 2,801,411 1,558,268 $3,801,199 $1,628,439 Depreciation expense for property and equipment was $1.3 million, $1.2 million and $0.4 million for the years ended December 31, 2021 and 2020, and the period from July 11, 2019 to December 31, 2019, respectively. Depreciation expense was $0.2 million for the Predecessor period from January 1, 2019 to July 10, 2019.

Intangible Assets

Intangible Assets	12 Months Ended
	Dec. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets	8. Intangible Assets The Company holds definite and indefinite-lived intangible assets. As of December 31, 2021, the indefinite-lived intangible assets consist of five trade names, arising from the acquisitions of Hawk Parent, MPI, BillingTree, Kontrol, and Payix. As of December 31, 2020, the indefinite-lived intangible assets consist of six trade names, arising from the acquisitions of Hawk Parent, TriSource, APS, Ventanex, cPayPlus, and CPS. Intangible assets consisted of the following: Gross Carrying Value Accumulated Amortization Net Carrying Value Weighted Average Useful Life (Years) Client relationships $539,850,000 $83,014,231 $456,835,769 8.40 Channel relationships 12,550,000 1,146,935 11,403,065 8.65 Software costs 163,957,560 83,162,612 80,794,948 1.48 Non-compete agreements 4,580,000 4,059,880 520,120 0.88 Trade name 28,140,000 — 28,140,000 — Balance as of December 31, 2021 $749,077,560 $171,383,658 $577,693,902 6.79 Client relationships $308,450,000 $39,920,578 $268,529,422 8.64 Channel relationships 12,550,000 191,936 12,358,064 9.65 Software costs 104,715,101 40,280,116 64,434,985 1.85 Non-compete agreements 4,270,000 2,595,333 1,674,667 1.52 Trade name 22,230,000 — 22,230,000 — Balance as of December 31, 2020 $452,215,101 $82,987,963 $369,227,138 6.94 The Company’s amortization expense for intangible assets was $88.4 million, $59.7 million and $23.3 million for the years ended December 31, 2021 and 2020, and the period from July 11, 2019 to December 31, 2019, respectively. Amortization expense for intangible assets was $5.9 million for the Predecessor period from January 1, 2019 to July 10, 2019. 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 2022 $99,941,015 2023 81,630,840 2024 67,608,133 2025 55,288,759 2026 55,571,944 Thereafter 189,513,211

Goodwill

Goodwill	12 Months Ended
	Dec. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill	9. Goodwill The following table presents changes to goodwill for the years ended December 31, 2021, 2020 and 2019: Total Balance at December 31, 2018 (Predecessor) $119,529,202 Acquisitions — Dispositions — Impairment Loss — Balance at July 10, 2019 (Predecessor) $119,529,202 Balance at July 11, 2019 (Successor) $339,911,400 Acquisitions 49,749,119 Dispositions — Impairment Loss — Balance at December 31, 2019 (Successor) $389,660,519 Acquisitions 62,263,733 Dispositions — Impairment Loss — Measurement period adjustment 7,046,003 Balance at December 31, 2020 458,970,255 Acquisitions 366,622,156 Dispositions — Impairment Loss — Measurement period adjustment (10,779) Other (1,500,000) Balance at December 31, 2021 $824,081,632 During the year ended December 31, 2020, the Company recognized a $7.0 million measurement period adjustment in accordance with APS acquisition, of which $6.6 million was due to a valuation adjustment on contingent consideration. The Company has only one operating segment and, based on the criteria outlined in ASC 350, Intangibles – Goodwill and Other

Borrowings

Borrowings	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Borrowings	10. Borrowings Predecessor Credit Agreement The Predecessor entered into a Revolving Credit and Term Loan Agreement (the “Predecessor Credit Agreement”), with SunTrust Bank and the other lenders party thereto on September 28, 2017, and amended December 15, 2017, which included a revolving loan component, the term loan and a delayed draw term loan. The Predecessor Credit Agreement was collateralized by substantially all assets of the Predecessor, based on the Predecessor Credit Agreement’s collateral documents, and it included restrictive qualitative and quantitative covenants, as defined in the Predecessor Credit Agreement. The Predecessor was in compliance with its restrictive covenants under the Predecessor Credit Agreement as of December 31, 2018. The Predecessor 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 Successor Credit Agreement (defined below). At the closing of the Business Combination and December 31, 2018, the outstanding balance on the revolving loan was $3.5 million. This balance was settled upon the closing of the Business Combination. Interest expense on the line of credit totaled $0.1 million for the period from January 1, 2019 to July 10, 2019. Interest expense on the line of credit totaled $0.2 million Successor Credit Agreement The Company entered into a Revolving Credit and Term Loan Agreement (the “Successor 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% as of December 31, 2020) (the “Delayed Draw Term Loan”). The Successor 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 million to $346.0 million. The Successor Credit Agreement was collateralized by substantially all of the Company’s assets, and included qualitative and quantitative covenants, as defined in the Successor Credit Agreement. The Successor Credit Agreement provided for a Term Loan of $256.0 million, a Delayed Draw Term Loan of $60.0 million, and a Revolving Credit Facility of $30.0 million. As of December 31, 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. On January 20, 2021, the Company used a portion of the proceeds from the 2026 Notes to prepay in full the entire amount of the outstanding Term Loans under the Successor Credit Agreement. The Company also terminated in full all outstanding Delayed Draw Term Loan commitments under such credit facilities. Amended Credit Agreement On February 3, 2021, the Company announced the closing of a new undrawn $125.0 million senior secured revolving credit facility through Truist Bank. The Amended Credit Agreement replaces the Company’s Successor Credit Agreement, which included an undrawn $30.0 million Revolving Credit Facility. On December 29, 2021, the Company increased its existing senior secured credit facilities by $60.0 million to a $185.0 million revolving credit facility pursuant to an amendment to the Amended Credit Agreement. The Company was in compliance with its restrictive covenants under the Amended Credit Agreement at December 31, 2021. As of December 31, 2021, the Company The Company’s interest expense on the line of credit totaled $0, $0.1 million and $0.1 million for the years ended December 31, 2021 and 2020, and the period from July 11, 2019 to December 31, 2019 respectively Convertible Senior Debt On January 19, 2021, the Company issued $440.0 million in aggregate principal amount of 0.00% Convertible Senior Notes due 2026 in a private placement. The initial conversion rate of the 2026 Notes was 29.7619 shares of Class A common stock per $1,000 principal amount of 2026 Notes (equivalent to an initial conversion price of approximately $33.60 per share of Class A common stock). Upon conversion of the 2026 Notes, the Company may choose to pay or deliver cash, shares of the Company’s Class A common stock, or a combination of cash and shares of the Company’s Class A common stock. The 2026 Notes will mature on February 1, 2026, unless earlier converted, repurchased or redeemed. Subject to Nasdaq requirements, the Company controls the conversion rights prior to November 3, 2025, unless a fundamental change or an event of default occurs. During the year ended December 31, 2021, the conversion contingencies of the 2026 Notes were not met, and the conversion terms of the 2026 Notes were not significantly changed. The shares issuable upon conversion of the 2026 Notes were excluded from the computation of the diluted loss per share, since their inclusion would have been anti-dilutive. As of December 31, 2021 and 2020, total borrowings under the Successor Credit Agreement, Amended Credit Agreement, and 2026 Notes consisted of the following, respectively: December 31, 2021 December 31, 2020 Non-current indebtedness: Term Loan (1) $ — $262,653,996 Revolving Credit Facility (2) 20,000,000 — Convertible Senior Debt 440,000,000 — Total borrowings under credit facility 460,000,000 262,653,996 Less: Current maturities of long-term debt (3) — 6,760,650 Less: Long-term loan debt issuance cost (4) 11,515,304 5,940,600 Total non-current borrowings $448,484,696 $249,952,746 (1) The Term Loan bears interest at a variable rate, which was 3.65 % as of December 31, 2020. (2) The Revolving Credit Facility bears interest at a variable rate, which was 2.35% as of December 31, 2021. (3) Pursuant to the terms of the Amended Credit Agreement, the Company was 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”). (4) The Company incurred $2.5 million, $1.4 million and $0.6 million of interest expense for the amortization of deferred debt issuance costs for the years ended December 31, 2021 and 2020, and the period from July 11, 2020 to December 31, 2019, respectively. The Predecessor incurred $0.2 million for the period from January 1, 2019 to July 10, 2019. The Company incurred interest expense on the Term Loans of $11.5 million and $5.3 million for the year ended December 31, 2020 and the period from July 11, 2019 to December 31, 2019, respectively. The Predecessor incurred interest expense of $2.8 million and $5.5 million and $4.4 million for the period from January 1, 2019 to July 10, 2019. Following is a summary of principal maturities of the Term Loans outstanding as of December 31, 2021 for each of the next five years ending December 31 and in the aggregate: 2022 $ — 2023 — 2024 — 2025 — 2026 460,000,000 2027 — $460,000,000

Derivative Instruments

Derivative Instruments	12 Months Ended
	Dec. 31, 2021
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, then a revised notional amount of $65.0 million beginning on September 30, 2020. 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, then a revised notional amount of $65.0 million beginning on September 30, 2020. Both interest rate swaps were settled in January 2021, with $6.4 million, net of taxes of $1.7 million reclassified from Accumulated other comprehensive loss into Other loss in the Consolidated Statements of Operations for the year ended December 31, 2021.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	12. Commitments and Contingencies Legal Matters The Company is a party to various claims and lawsuits incidental to its business. In the Company’s opinion, the liabilities, if any, which may ultimately result from the outcome of such matters, individually or in the aggregate, are not expected to have a material adverse effect on its financial position, liquidity, results of operations or cash flows. Leases The Company has commitments under operating leases for real estate leased from third parties under non-cancelable operating leases. The Company’s leases typically have lease terms between three years and ten years, with the longest lease term having an expiration date in 2029. Most of these leases include one or more renewal options for six years or less, and certain leases also include lessee termination options. At lease commencement, the Company assesses whether it is reasonably certain to exercise a renewal option, or reasonably certain not to exercise a termination option, by considering various economic factors. Options that are reasonably certain of being exercised are factored into the determination of the lease term, and related payments are included in the calculation of the right-of-use asset and lease liability. The components of lease cost are presented in the following table: Year Ended December 31, 2021 Year Ended December 31, 2020 Components of total lease costs: Operating lease cost $2,370,643 $1,745,575 Short-term lease cost 100,607 48,150 Variable lease cost — — Total lease cost $2,471,250 $1,793,725 Amounts reported in the Consolidated Balance Sheets were as follows: December 31, 2021 December 31, 2020 Operating Leases: Right-of-use assets $10,499,751 $10,074,506 Lease liability, current 1,990,416 1,527,224 Lease liability, long-term 9,090,867 8,836,655 Total lease liabilities $11,081,283 $10,363,879 Weighted-average remaining lease term (in years) 5.2 6.2 Weighted-average discount rate (annualized) 4.3% 4.6% Other information related to leases are as follows: Year Ended December 31, 2021 Year Ended December 31, 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $2,168,767 $1,504,352 Right-of-use assets obtained in exchange for lease liabilities: Operating leases 2,438,075 11,430,120 The following table presents a maturity analysis of the Company’s operating leases liabilities as of December 31, 2021: 2022 $2,423,447 2023 2,481,751 2024 2,303,054 2025 2,124,094 2026 1,835,155 Thereafter 1,260,395 Total undiscounted lease payments 12,427,896 Less: Imputed interest 1,346,613 Total lease liabilities $11,081,283

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
Related Party Transactions	13. Related Party Transactions Related party payables consisted of the following: December 31, December 31, 2021 2020 Ventanex accrued earnout liability $12,746,840 $4,800,000 cPayPlus accrued earnout liability — 6,500,000 CPS accrued earnout liability 600,000 4,500,000 Kontrol accrued earnout liability 850,000 — Payix accrued earnout liability 2,850,000 — Other payables to related parties 347,285 11,597 $17,394,125 $15,811,597 The Company incurred transaction costs on behalf of related parties of $8.2 million, $3.1 million and $1.3 million for the years ended December 31, 2021 and 2020, and the period from July 11, 2019 to December 31, 2019, respectively. These costs consist of retention bonuses and other compensation to employees, associated with the costs resulting from the integration of new businesses. The Predecessor incurred transaction costs on behalf of related parties of $6.8 million for the period from January 1, 2019 to July 10, 2019. The Company held receivables from related parties of $0.3 million and $0.1 million as of December 31, 2021 and 2020, respectively. These amounts were due from employees, related to tax withholding on vesting of equity compensation. See Note 14. Share based compensation for more detail on these restricted share awards. The Company owed $17.4 million and $15.8 million to related parties, in the form of contingent consideration payable to the sellers of Ventanex, CPS, BillingTree, Kontrol and Payix, who were employees of REPAY, as of December 31, 2021 and 2020, respectively. Further, the Company owed employees $0.0 million and $0.0 million for amounts paid on behalf of the Company as of December 31, 2021 and 2020, respectively.

Share Based Compensation

Share Based Compensation	12 Months Ended
	Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share Based Compensation	14. Share Based Compensation Omnibus Incentive Plan At the Shareholders Meeting, Thunder Bridge shareholders considered and approved the Incentive Plan which resulted in the reservation of 7,326,728 shares of common stock for issuance thereunder. The Incentive Plan became effective immediately upon the closing of the Business Combination. Under this plan, the Company currently has three types of share-based compensation awards outstanding: PSUs, RSAs and RSUs. PSU The grant date fair value of a PSU, which is based on quoted market value of the Company’s Class A common stock on the grant date and the number of shares expected to be earned according to the level of achievement of performance measures, is recognized on a straight-line basis over the applicable performance or service period. The performance or service period for awards granted generally range from one to three years. RSA and RSU RSAs and RSUs vest in equal annual installments over a three-year period. Restricted shares cannot be sold or transferred until they have vested. The grant date fair value of RSAs and RSUs, which is based on the quoted market value of the Company’s Class A common stock on the grant date, is recognized as share-based compensation expense on a straight-line basis over the vesting period. The following table summarized share-based compensation expense and the related income tax benefit recognized for the Company’s share-based compensation awards: Year Ended December 31, From July 11, 2019 to ($ in millions) 2021 2020 December 31, 2019 Share-based compensation expense $22.3 $19.4 $22.0 Income tax benefit 3.4 0.5 1.1 Activity for the years ended December 31, 2021 and 2020, and the period from July 11, 2019 to December 31, 2019 were as follows: Class A Common Stock Weighted Average Grant Date Fair Value Unvested at July 11, 2019 — $ — Granted 3,275,229 12.07 Forfeited (1) 321,263 11.81 Vested 1,135,291 11.68 Unvested at December 31, 2019 1,818,675 12.39 Granted 1,389,063 18.40 Forfeited (1) (2) 80,794 13.40 Vested 603,513 12.10 Unvested at December 31, 2020 2,523,431 15.71 Granted 994,287 22.68 Forfeited (1) (2) 418,330 16.46 Vested 583,754 15.63 Unvested at December 31, 2021 2,515,634 $18.30 (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 Incentive Plan. (2) The forfeited shares include employee terminations during the years ended December 31, 2021 and 2020; further, these forfeited shares are added back to the amount of shares available for grant under the Incentive Plan. Unrecognized compensation expense related to unvested PSUs, RSAs and RSUs was $22.7 million as of December 31, 2021, which is expected to be recognized as expense over the weighted-average period of 2.45 years. Unrecognized compensation expense related to unvested PSUs, RSAs, and RSUs was $23.7 million as of December 31, 2020, which is expected to be recognized as expense over the weighted-average period of 2.61 years. Unrecognized compensation expense related to unvested RSAs, RSUs and PSUs was $17.5 million as of December 31, 2019, which is expected to be recognized as expense over the weighted-average period of 2.26 years. 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 period from January 1, 2019 to July 10, 2019, the Predecessor incurred $0.9 million of share-based compensation expense, respectively, included in Selling, general and administrative costs in the Consolidated Statements of Operations.

Taxation

Taxation	12 Months Ended
	Dec. 31, 2021
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 components of loss before income taxes are as follows: Year Ended December 31, 2021 Year Ended December 31, 2020 July 11, 2019 to December 31, 2019 January 1, 2019 to July 10, 2019 (Successor) (Predecessor) Domestic $(87,352,396) $(129,267,523) $(51,540,441) $(23,668,078) Foreign 624,677 (456,747) (269,721) (74,452) Loss before income tax benefit $(86,727,719) $(129,724,270) $(51,810,162) $(23,742,530) The Company recorded a provision for income tax as follows: Year Ended December 31, 2021 Year Ended December 31, 2020 July 11, 2019 to December 31, 2019 January 1, 2019 to July 10, 2019 (Successor) (Predecessor) Current expense Federal $34,401 $ — $ — $ — State 2,367 — — — Foreign — — — — Total current expense $36,768 $ — $ — $ — Deferred expense Federal $(18,113,316) $(10,523,778) $(4,343,013) $ — State (12,799,753) (1,708,969) (575,152) — Foreign 185,145 (125,278) (72,824) — Total deferred benefit (30,727,924) (12,358,025) (4,990,989) — Income tax benefit $(30,691,156) $(12,358,025) $(4,990,989) $ — A reconciliation of the United States statutory income tax rate to the Company’s effective income tax rate is as follows for the years indicated: Year Ended December 31, 2021 Year Ended December 31, 2020 July 11, 2019 to December 31, 2019 January 1, 2019 to July 10, 2019 (Successor) (Predecessor) Federal income tax expense 21.0% 21.0% 21.0% 0.0% State taxes, net of federal benefit 5.2% 1.3% 1.1% 0.0% Income attributable to noncontrolling interest (1.4%) (1.8%) (6.1%) 0.0% Excess tax benefit related to share-based compensation 0.6% 0.4% 0.4% 0.0% Change in fair value of warrant liabilities 0.0% (11.5%) (6.2%) 0.0% State rate change impact on deferred taxes 9.5% 0.0% 0.0% 0.0% Other, net 0.5% 0.1% (0.6%) 0.0% Total deferred benefit 35.4% 9.5% 9.6% 0.0% The Company’s effective tax rate was 35.4%, 9.5% and 9.6% for the years ended December 31, 2021 and 2020, and the period from July 11, 2019 to December 31, 2019, respectively. The comparison of the Company’s effective tax rate to the U.S. statutory tax rate of 21% was primarily influenced by the fact that the Company is not liable for the income taxes on the portion of Hawk Parent’s earnings that are attributable to noncontrolling interests. Further, the comparison is reflective of the effect of remeasuring net deferred tax assets for state tax rate changes. The results for the Predecessor do not reflect income tax expense because, prior to the closing of the Business Combination, the consolidated Hawk Parent was treated as a partnership for U.S. federal and most applicable state and local income tax purposes and was not subject to corporate tax. Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Details of the Company's deferred tax assets and liabilities are as follows: December 31, 2021 December 31, 2020 Deferred tax assets Tax Credits $1,547,569 $522,081 Section 163(j) Limitation Carryover 26,800 250,095 Acquisition Costs 348,158 352,291 Federal Net Operating Losses 25,283,737 8,834,924 State Net Operating Losses 4,907,835 1,264,059 Foreign Net Operating Losses 16,556 202,517 Other Assets 6,794,593 2,997,426 Partnership basis tax differences 130,440,236 154,253,345 Total deferred tax asset 169,365,484 168,676,738 Valuation allowance (16,393,745) (33,339,509) Total deferred tax asset, net of valuation allowance 152,971,739 135,337,229 Deferred tax liabilities Other Intangibles - Payix (7,711,856) — Total deferred tax liabilities (7,711,856) — Net deferred tax assets $145,259,883 $135,337,229 As a result of the equity offering by the Company, BillingTree acquisition, finalization of 2020 income tax returns and Post-Merger Repay Unit exchanges during the year ended December 31, 2021, the Company recognized a reduction of the deferred tax asset (“DTA”) and offsetting deferred tax liability (“DTL”) in the amount of $19.2 million, compared to an increase of $27.5 million as a result of equity offerings by the Company, warrant exercises and Post-Merger Repay unit exchanges during the year ended December 31, 2020, 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 of December 31, 2021. As such, a 100% valuation allowance was recognized. As of December 31, 2021, the Company had net tax effected federal and state (net of federal benefit) net operating losses (“NOLs”) of $30.2 million, of which approximately $25.8 million have an indefinite life. NOLs of approximately $4.4 million will begin to expire in 2030. As of December 31, 2021, the Company had federal and state tax credit carryforwards of $1.1 million and $0.4 million, respectively, which will begin to expire in 2037 and 2034, respectively. The Company believes as of December 31, 2021, based on the weight of all positive and negative evidence, it is more likely than not that the results of future operations will generate sufficient taxable income to realize the NOLs and tax credits and, as such, no valuation allowance was recorded. No uncertain tax positions existed as of December 31, 2021. Tax Receivable Agreement Liability Pursuant to our election under Section 754 of the Code, we expect to obtain an increase in our 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 our 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 our 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 Repay. 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 December 31, 2021, the Company had a liability of $245.8 million related to its projected obligations under the TRA, which is captioned as the tax receivable agreement liability in the Company’s Consolidated Balance Sheets. The increase in the TRA liability for the year ended December 31, 2021, was primarily a result of the change in the Early Termination Rate, as defined in the TRA, selling members of Hawk Parent exchanging 407,584 Post-Merger Repay Units during the year ended December 31, 2021 in accordance with the Exchange Agreement, the finalization of the various components related to the 2020 exchanges of Post-Merger Repay Units, and the impact of the remeasurement of the state tax rate. 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	12 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent events	16. Subsequent Events Management has evaluated subsequent events and their potential effects on these consolidated financial statements. Based upon the review, management did not identify any subsequent events that would have required adjustment or disclosure in the financial statements.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
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 (“TriSource”), LLC, Mesa Acquirer, LLC, CDT Technologies LTD, Viking GP Holdings, LLC, cPayPlus, LLC, CPS Payment Services, LLC, Media Payments, LLC, Custom Payment Systems, LLC, BT Intermediate, LLC, Electronic Payment Providers, LLC, Blue Cow Software, LLC, Hoot Payment Solutions, LLC, Internet Payment Exchange, LLC, Stratus Payment Solutions, LLC, Clear Payment Solutions, LLC, Harbor Acquisition LLC, and Payix Holdings Incorporated. All significant intercompany accounts and transactions have been eliminated in consolidation.
Basis of Financial Statement Presentation	Basis of Financial Statement Presentation The accompanying consolidated financial statements of the Company were prepared in accordance with generally accepted accounting principles in the United States of America (“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.
Segment Reporting	Segment Reporting Operating segments are defined as components of an enterprise about which discrete financial information is available that is evaluated regularly by the chief operating decision maker, or decision-making group, in making decisions on how to allocate resources and assess performance for the organization. The Company’s chief decision maker is the Chief Executive Officer. The Company’s chief decision maker reviews consolidated operating results to make decisions about allocating resources and assessing performance for the entire Company. Accordingly, the Company has determined that it has one operating segment: Merchant services. There are no significant concentrations by state or geographical location, nor are there any significant individual client concentrations by balance.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash on hand, demand deposit accounts, and short‑term investments with original maturities of three months or less. The Company maintains its cash in bank deposit accounts which, at times, may exceed federally insured limits.
Restricted Cash	Restricted Cash Restricted cash consists of funds required to serve as security for services rendered by a service provider under a service provider agreement.
Accounts Receivable	Accounts Receivable Accounts receivable represent amounts due from clients and payment processors for services rendered. The Company has an established process for aging, provisioning and writing-off its uncollectible accounts receivable. Within this process the Company aggregates accounts receivable to the pools of receivables of similar risk characteristics. The allowance for credit losses on accounts receivables is estimated based on how long a receivable has been outstanding (e.g., under 30 days, 30–60 days, etc.). For accounts receivable outstanding more than 90 days, the Company evaluates and assesses whether the loss reserve percentage requires adjustment for reasonable and supportable forecast of relevant economic factors. As of December 31, 2021, the Company’s estimated credit losses on accounts receivable was immaterial.
Concentration of Credit Risk	Concentration of Credit Risk The Company is highly diversified, and no single client represents greater than 10% of the business on a volume or profit basis.
Earnings per Share	Earnings per Share Basic earnings per share of Class A common stock is computed by dividing net loss attributable to the Company by the weighted average number of shares of Class A common stock outstanding during the period. Diluted earnings per share of Class A common stock is computed by dividing net loss attributable to the Company, by the weighted average number of shares of Class A common stock outstanding adjusted to give effect to potentially dilutive elements. The Predecessor’s LLC membership structure included several different types of LLC interests including ownership interests and profits interests. The Company analyzed the calculation of earnings per unit by using the two‑class method and determined that it resulted in values that would not be meaningful to the users of these consolidated financial statements. Therefore, the Predecessor’s earnings per share information has not been presented for any period.
Property and Equipment	Property and Equipment Property and equipment is carried at cost less accumulated depreciation and includes expenditures which substantially increase the useful lives of existing property and equipment. Maintenance, repairs, and minor renovations are charged to operations as incurred. When property and equipment is retired or otherwise disposed of, the related costs and accumulated depreciation are removed from their respective accounts, and any gain or loss on the disposition is credited or charged to operations. The Company provides for depreciation of property and equipment using the straight-line method designed to amortize costs over estimated useful lives as follows: Estimated Furniture, fixtures, and office equipment 5 years Computers 3 years Leasehold improvements 5 years The Company evaluates the recoverability of property and equipment at least annually or whenever events or changes in circumstances indicate that the carrying amount of property and equipment may not be recoverable. The evaluation of asset impairment requires the Company to make assumptions about future cash flows over the life of the asset being evaluated. These assumptions require significant judgment, and actual results may differ from assumed and estimated amounts. If the carrying amount of property and equipment is determined not to be recoverable, a write-down to fair value is recorded. No impairments were recognized for the years ended December 31, 2021 and 2020.
Intangible Assets	Intangible Assets Intangible assets consist of internal-use software development costs, purchased software, channel relationships, client relationships, certain key personnel non-compete agreements, and trade names. The Company capitalizes internal-use software development costs when the Company has completed the preliminary project stage, management authorizes the project, management commits to funding the project, it is probable the project will be completed and the project will be used to perform the function intended. The Company is amortizing internal-use software development costs and purchased software on the straight‑line method over a three-year ten-year
Goodwill	Goodwill Goodwill represents the excess of purchase price over tangible and intangible assets acquired less liabilities assumed arising from business combinations. Goodwill is generally allocated to reporting units based upon relative fair value (taking into consideration other factors such as synergies) when an acquired business is integrated into multiple reporting units. The Company’s reporting units are at the operating segment level or one level below the operating segment level for which discrete financial information is prepared and regularly reviewed by management. When a business within a reporting unit is disposed of, goodwill is allocated to the disposed business using the relative fair value method. Relative fair value is estimated using a discounted cash flow analysis. The Company performs a qualitative goodwill assessment at the reporting unit level at least annually, or more frequently as events occur or circumstances change that would more-likely-than-not reduce the fair value of a reporting unit below its carrying amount. Factors considered in the Company’s qualitative assessment include financial performance, financial forecasts, macroeconomic conditions, industry and market conditions, cost factors, market capitalization, carrying value, and events affecting the reporting units. If, after considering all relevant events and circumstances, the Company determines it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount, then it is necessary to perform a quantitative impairment test. If the Company elects to bypass the qualitative analysis, or concludes from the Company’s qualitative analysis that it is more-likely - than-not that the fair value of a reporting unit is less than its carrying amount, a quantitative impairment test is performed by comparing the fair value of each reporting unit with its carrying amount. If the fair value is greater than the carrying amount, then the reporting unit’s goodwill is deemed not to be impaired. If the fair value is less than the carrying amount, an impairment loss is recognized for the amount by which a reporting unit’s carrying amount exceeds its fair value, without exceeding the total amount of goodwill allocated to that reporting unit. The Company determined that no impairment of goodwill existed as of the last testing date, December 31, 2021. Future impairment reviews may require write‑downs in the Company’s goodwill and could have a material adverse impact on the Company’s operating results for the periods in which such write‑downs occur.
Revenue	Revenue Repay provides integrated payment processing solutions to niche markets that have specific transaction processing needs; for example, personal loans, automotive loans, and receivables management. The Company contracts with its clients through contractual agreements that set forth the general terms and conditions of the service relationship, including rights of obligations of each party, line item pricing, payment terms and contract duration. Most of our 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 we provide. As our clients process increased volumes of payments, our revenues increase as a result of the fees we charge for processing these payments. The Company’s performance obligation in its contracts with clients is the promise to stand-ready to provide front-end authorization and back-end settlement payment processing services ("processing services") for an unknown or unspecified quantity of transactions and the consideration received is contingent upon the client’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 client, 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 clients’ transactions are processed. Revenues are also derived from transaction or service fees (e.g. chargebacks, gateway) as well as other miscellaneous service fees. These services are considered immaterial in the overall context of our contractual arrangements and, as such, do not represent distinct performance obligations. Instead, the fees associated with these services are bundled with the processing services performance obligation identified. The transaction price for such processing services is determined, based on the judgment of the Company’s management, considering factors such as margin objectives, pricing practices and controls, client segment pricing strategies, the product life cycle and the observable price of the service charged to similarly situated clients. The Company follows the requirements of ASC 606-10-55-36 through -40, Revenue from Contracts with Customers, Principal Agent Considerations The principal versus agent evaluation is matter of judgment that depends on the facts and circumstances of the arrangement and is dependent on whether the Company controls the good or service before it is transferred to the client or whether the Company is acting as an agent of a third party. This evaluation is performed separately for each performance obligation identified. When the Company acts as an agent, the fees collected from clients on behalf of the payment networks and card issuer is netted with the gross fees collected so that the net revenue is presented within Revenue in the Consolidated Statements of Operations. 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. Software Revenue As a result of the acquisition of BillingTree, the Company has acquired a software revenue stream. Software revenue is presented within Revenue in the Consolidated Statements of Operations. Software revenue consists of term license fees related to software products, and software maintenance and support (“PCS”). Clients typically enter into software contracts for contractual terms of three to twelve months. The term license and PCS are each distinct performance obligations. The total consideration in the contract is allocated based on management’s assessment of the relative standalone selling price for each performance obligation. The Company determines the standalone selling price based on the price at which the performance obligation is sold separately. If the standalone selling price is not observable through past transactions, the Company estimates the standalone selling price by making use of all reasonably available data such as market conditions, type of deliverable, information about the client, current and historical pricing practices and entity-specific factors such as labor hours and standard rates per labor hour. Revenue is recognized when the related performance obligations are satisfied. Revenue from the term license is recognized at a point in time, upon delivery to the client. Revenue from PCS is recognized over the term of the contract. When the Company receives an up-front deposit, the revenue is deferred until such a time that the term license or PCS is provided to the client. Deferred revenue is expected to be recognized as revenue within one year and is classified within Other current liabilities in the Consolidated Balance Sheets. 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 amortization period is consistent with the concept of useful life under other accounting guidance, which is defined as the period over which an asset is expected to contribute directly or indirectly to future cash flows. The Company currently incurs costs to obtain a contract through payments made to external referral partners. Commission payments are made to the external referral partner on a monthly basis based on a percentage of the profit on the contract, for as long as the client and the external referral partner have agreements with the Company. Any capitalized commission cost assets have an amortization period of one year or less, therefore the Company utilizes the practical expedient to expense commissions as incurred. Costs to fulfill contracts with clients either give rise to an asset or are expensed as incurred. If the cost is not already covered by other applicable accounting literature, fulfilment costs are capitalized to the extent they directly relate to a specific contract, are used to generate or enhance resources used in satisfying performance obligations and are expected to be recovered. The Company does not have any costs incurred to fulfill a contract. Practical Expedients The Company has utilized the portfolio approach practical expedient per ASC 606-10-10-4, which allows the application of ASC 606 to a portfolio of contracts with similar characteristics provided the accounting does not differ materially to application of ASC 606 to the individual contract. The Company has also utilized the practical expedient for immaterial goods and services per ASC 606-10-25-16A, which permits the Company not to recognize a promised good or service as a performance obligation if it is considered an immaterial promise in the context of the contract.
Transaction Costs	Transaction Costs The Company expenses all transactions costs associated with a business combination as incurred and such expenses are included in Selling, general, and administrative expenses in the Consolidated Statements of Operations. For the years ended December 31, 2021 and 2020, the Company incurred $9.3 million and $4.2 million transaction costs, respectively. For the period from July 11, 2019 to December 31, 2019, the Successor incurred $3.9 million of transaction costs for closed and pending transactions. The Predecessor incurred transaction costs of $16.2 million
Equity Units Awarded	Equity Units Awarded The Repay Holdings Corporation 2019 Omnibus Incentive Plan (the “Incentive Plan”) provides for the grant of various equity-based incentive awards to employees, directors, consultants and advisors to the Company. The types of equity-based awards that may be granted under the Incentive Plan include: stock options, stock appreciation rights (“SARs”), performance stock units (“PSUs”), restricted stock awards (“RSAs”), restricted stock units (“RSUs”), and other stock-based awards. As of December 31, 2021, there were 7,326,728 shares of Class A common stock reserved for issuance under the Incentive Plan. The Company accounts for stock-based compensation for employees and directors in accordance with ASC 718, Compensation (“ASC 718”). ASC 718 requires all share-based payments to employees to be recognized in the statement of operations based on their fair values. Under the provisions of ASC 718, stock-based compensation costs are measured at the grant date, based on the fair value of the award, and are recognized as expense over the employee’s requisite or derived service period. The Predecessor accounted for profit units awarded to management based on the fair value of the awards on the date of the grant and recognized compensation expense for those awards over the requisite service period. The profit interests granted under the profit unit plan of the Predecessor were estimated on the grant date using the Black‑Scholes option valuation model. The profits units were fully vested as of the Closing. PSUs, RSAs and RSUs granted under the Incentive Plan are measured based on the fair value of the awards on the date of the grant. Compensation expense is recognized for those awards over the requisite service period. Forfeitures are accounted for as they occur.
Debt Issuance Costs	Debt Issuance Costs The Company accounts for debt issuance costs according to the Financial Accounting Standards Board Accounting Standards Update 2015-03, Simplifying the Presentation of Debt Issuance Costs
Fair Value of Financial Instruments	Fair Value of Financial Instruments The Company accounts for fair value measurements in accordance with ASC 820, Fair Value Measurements and Disclosures • Level 1 — Quoted prices for identical instruments in active markets. • Level 2 — Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. • Level 3 — Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable in active exchange markets. The carrying value of the Company’s financial instruments, including cash and cash equivalents, restricted cash, accounts receivable and accounts payable approximated their fair values as of December 31, 2021, and 2020, because of the relatively short maturity dates on these instruments. The carrying amount of debt approximates fair value as of December 31, 2021 and 2020, because interest rates on these instruments approximate market interest rates.
Leases	Leases The Company adopted ASC 842, Leases, using a modified retrospective transition approach as of January 1, 2020. The Company has elected to adopt the package of transition practical expedients and, therefore, has not reassessed (1) whether existing or expired contracts contain a lease, (2) lease classification for existing or expired leases or (3) the accounting for initial direct costs that were previously capitalized. The Company also elected the practical expedient to use hindsight for leases existing as of January 1, 2020. The Company evaluates each of its lease and service arrangements at inception to determine if the arrangement is, or contains, a lease and the appropriate classification of each identified lease. A lease exists if the Company obtains substantially all of the economic benefits of, and has the right to control the use of, an asset for a period of time. The Company has operating leases for real estate. Operating leases with an original lease term in excess of twelve months are included in Other assets and Other liabilities in the Consolidated Balance Sheets. Right-of-use (“ROU”) assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. The Company uses its incremental borrowing rate to calculate the present value of lease payments. Lease terms consider options to extend or terminate based on the determination of whether such renewal or termination options are deemed reasonably certain. Lease agreements that contain non-lease components are generally accounted for as a single lease component. Operating lease costs are recorded in Selling, general and administrative in the Consolidated Statements of Operations based on the underlying asset. Variable costs, such as maintenance expenses, property and sales taxes, association dues and index-based rate increases, are expensed as they are incurred. Variable lease payments associated with the Company’s leases are recognized when the event, activity, or circumstance in the lease agreement on which those payments are assessed occurs. Variable lease payments are presented as operating expenses in Selling, general and administrative in the Consolidated Statements of Operations. The Company has elected not to recognize ROU assets and lease liabilities for short-term leases of all applicable class of underlying assets that have a lease term of twelve months or less. The Company recognizes the lease payments associated with its short-term leases as an expense on a straight-line basis over the lease term. Variable lease payments associated with these leases are recognized and presented in the same manner as for all other Company leases. ROU assets for operating leases are periodically reduced by impairment losses. As of December 31, 2021, the Company has not encountered any impairment losses. The Company monitors for events or changes in circumstances that require a reassessment of a lease. When a reassessment results in the remeasurement of a lease liability, a corresponding adjustment is made to the carrying amount of the corresponding ROU asset unless doing so would reduce the carrying amount of the ROU asset to an amount less than zero. In that case, the amount of the adjustment that would result in a negative ROU asset balance is recorded in gain or loss in the Consolidated Statements of Operations.
Taxation	Taxation Income taxes are provided for in accordance with ASC 740. Deferred tax assets and liabilities are recognized for the expected future tax consequences attributable to net operating losses, tax credits, and temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period of the enactment date. Valuation allowances are established when it is more likely than not that some or all of the deferred tax assets will not be realized. The Company reports a liability or a reduction of deferred tax assets for unrecognized tax benefits resulting from uncertain tax positions taken or expected to be taken in a tax return. When applicable, the Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense.
Noncontrolling Interest	Noncontrolling Interest As of December 31, 2021, the Company held an 91.9% interest in Hawk Parent. F
Contingent Consideration	Contingent Consideration The Company estimates and records the acquisition date estimated fair value of contingent consideration as part of purchase price consideration for acquisitions. Additionally, each reporting period, the Company estimates changes in the fair value of contingent consideration, and any change in fair value is recognized in the Consolidated Statements of Operations. An increase in the contingent consideration expected to be paid will result in a charge to operations in the period that the anticipated fair value of contingent consideration increases, while a decrease in the earn-out expected to be paid will result in a credit to operations in the period that the anticipated fair value of contingent consideration decreases. The estimate of the fair value of contingent consideration requires subjective assumptions to be made of future operating results, discount rates, and probabilities assigned to various potential operating result scenarios.
Recent Accounting Pronouncements	Recently Adopted Accounting Pronouncements Accounting for Income Taxes In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes Income Taxes (Topic 740) The Company adopted ASU 2019-12 as of January 1, 2021, using a modified retrospective transition approach. The adoption of this ASU did not have a material impact on the Company’s consolidated financial statements or related disclosures. Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity In August 2020, the FASB issued ASU Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity, ASC Topic No. 470 Debt ASC Topic No. 815 Derivatives and Hedging ASC Topic No. 260 Earnings Per Share ASU 2020-06 is effective for public companies beginning January 1, 2022, including interim periods within the fiscal years after the adoption date. Early adoption is also permitted beginning January 1, 2021, including interim periods within those fiscal years. The Company early adopted ASU 2020-06 as of January 1, 2021. The Company issued the 2026 Notes in January 2021, which resulted in recognition of $440.0 million in noncurrent long-term debt and $11.4 million in debt issuance costs. In determining the impact of the 2026 Notes on the Company’s diluted earnings per share calculations, the Company applies the if-converted method. For additional information and required disclosures related to 2026 Notes, see Note 10. Borrowings. Recently Issued Accounting Pronouncements not yet Adopted Business Combinations In August 2021, the FASB issued ASU No. 2021-08, “ Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers Revenue (Topic 606)

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Schedule of Estimated Useful Life of Property and Equipment	The Company provides for depreciation of property and equipment using the straight-line method designed to amortize costs over estimated useful lives as follows: Estimated Furniture, fixtures, and office equipment 5 years Computers 3 years Leasehold improvements 5 years

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2021
Revenue From Contract With Customer [Abstract]
Summary of Disaggregation of Revenue	The table below presents a disaggregation of revenue by direct and indirect relationships. Year Ended December 31, 2021 Year Ended December 31, 2020 From July 11, 2019 to December 31, 2019 From January 1, 2019 to July 10, 2019 (Successor) (Predecessor) Revenue Direct relationships $213,251,782 $152,247,190 $56,370,030 $45,693,961 Indirect relationships 6,006,256 2,788,753 1,190,440 1,348,956 Total Revenue $219,258,038 $155,035,943 $57,560,470 $47,042,917

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2021
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: Year Ended December 31, 2021 Year Ended December 31, 2020 From July 11, 2019 to December 31, 2019 Loss before income tax expense $(86,727,719) $(129,724,270) $(51,810,162) Less: Net loss attributable to non-controlling interests (5,952,390) (11,769,683) (15,271,043) Income tax benefit 30,691,156 12,358,025 4,990,989 Net loss attributable to the Company $(50,084,173) $(105,596,562) $(31,548,130) Weighted average shares of Class A common stock outstanding - basic and diluted 83,318,189 52,180,911 35,731,220 Loss per share of Class A common stock outstanding - basic and diluted $(0.60) $(2.02) $(0.88)
Summary of Components of Common Stock Equivalent Shares Excluded from Computation of Diluted Loss per Share	For the years ended December 31, 2021 and 2020, and the period from July 11, 2019 to December 31, 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: Year Ended December 31, 2021 Year Ended December 31, 2020 From July 11, 2019 to December 31, 2019 Post-Merger Repay Units exchangeable for Class A common stock 7,926,576 8,334,160 21,985,297 Earnout Post-Merger Repay Units exchangeable for Class A common stock — — 7,500,000 Dilutive warrants exercisable for Class A common stock — — 1,816,890 Unvested restricted share awards of Class A common stock 2,515,634 2,209,551 1,731,560 2026 Notes convertible for Class A common stock 13,095,238 — — Share equivalents excluded from earnings (loss) per share 23,537,448 10,543,711 33,033,747

Business Combinations (Tables)

Business Combinations (Tables)	12 Months Ended
	Dec. 31, 2021
Business Acquisition [Line Items]
Summary of Pro Forma Financial Information	The supplemental condensed consolidated results of the Company on an unaudited pro forma basis give effect to Ventanex, cPayPlus, CPS, BillingTree, Kontrol and Payix acquisitions as if the transactions had occurred on January 1, 2020. 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 Year Ended December 31, 2021 Pro Forma Year Ended December 31, 2020 Revenue $257,014,219 $234,656,115 Net loss (54,626,915) (120,849,273) Net loss attributable to non-controlling interests (5,813,388) (12,792,802) Net loss attributable to the Company (48,813,527) (108,056,471) Loss per Class A share - basic and diluted $(0.56) $(1.74)
Hawk Parent Holdings LLC
Business Acquisition [Line Items]
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) The Company issued 22,045,297 shares of Post-Merger Repay Units valued at $10.00 per share as of July 11, 2019. (2) Reflects the fair value of Earnout Units, the contingent consideration paid to the selling members of Hawk Parent, pursuant to the Merger Agreement. The Company reflected this as noncontrolling interests on its balance sheet. The Repay Unitholders received 7,500,000 Earnout Units based on the stock price of the Company. (3) f 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 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
Business Acquisition [Line Items]
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 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
Business Acquisition [Line Items]
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 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
Business Acquisition [Line Items]
Summary of Preliminary Purchase Consideration	The following summarizes the 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 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 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
Business Acquisition [Line Items]
Summary of Preliminary Purchase Consideration	The following summarizes the purchase consideration paid to the selling members of cPayPlus: Cash consideration $7,956,963 Contingent consideration (1) 6,500,000 Total purchase price $14,456,963 (1)
Summary of Preliminary and Final Purchase Allocation	The 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 6,713,646 Total purchase price $14,456,963
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 $0.1 5 Trade names 0.1 Indefinite Developed technology 6.7 3 Merchant relationships 0.8 10 $7.7
CPS Payment Services
Business Acquisition [Line Items]
Summary of Preliminary Purchase Consideration	The following summarizes the purchase consideration paid to the selling members of CPS: Cash consideration $83,886,556 Contingent consideration (1) 4,500,000 Total purchase price $88,386,556 (1)
CPS Payment Services LLC and Media Payments, LLC
Business Acquisition [Line Items]
Summary of Preliminary and Final Purchase Allocation	The purchase price allocation is as follows: CPS MPI Cash and cash equivalents $1,667,066 $2,097,921 Accounts receivable 2,810,158 5,556,958 Prepaid expenses and other current assets 2,615,615 934,751 Total current assets 7,092,839 8,589,630 Property, plant and equipment, net 19,391 2,995 Restricted cash 407 35,318 Identifiable intangible assets 30,830,000 7,110,000 Total identifiable assets acquired 37,942,637 15,737,943 Accounts payable (2,004,371) (4,495,599) Accrued expenses (2,143,680) — Net identifiable assets acquired 33,794,586 11,242,344 Goodwill 40,747,939 2,601,687 Total purchase price $74,542,525 $13,844,031
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 (in millions) Useful life Identifiable intangible assets CPS MPI (in years) Non-compete agreements $0.1 $0.1 4 Trade names 0.5 0.1 Indefinite Developed technology 7.2 0.7 3 Merchant relationships 23.0 6.3 10 $30.8 $7.2
Billing Tree
Business Acquisition [Line Items]
Summary of Preliminary Purchase Consideration	The following summarizes the preliminary purchase consideration paid to the seller of BillingTree: Cash consideration $277,521,139 Class A common stock issued 228,250,000 Total purchase price $505,771,139
Summary of Preliminary and Final Purchase Allocation	The preliminary purchase price allocation is as follows: Cash and cash equivalents $8,243,570 Accounts receivable 3,623,894 Prepaid expenses and other current assets 1,601,854 Total current assets 13,469,318 Property, plant and equipment, net 541,244 Restricted cash 274,954 Other assets 1,782,489 Identifiable intangible assets 236,810,000 Total identifiable assets acquired 252,878,005 Accounts payable (2,552,251) Accrued expenses and other liabilities (6,982,919) Deferred tax liability (31,371,590) Net identifiable assets acquired 211,971,245 Goodwill 293,799,895 Total purchase price $505,771,140
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 $0.3 2 Trade names 7.8 Indefinite Developed technology 26.2 3 Merchant relationships 202.5 10 $236.8
Kontrol
Business Acquisition [Line Items]
Summary of Preliminary Purchase Consideration	The following summarizes the preliminary purchase consideration paid to the owner of Kontrol: Cash consideration $7,439,373 Contingent consideration (1) 500,000 Total purchase price $7,939,373 (1)
Summary of Preliminary and Final Purchase Allocation	The preliminary purchase price allocation is as follows: Accounts receivable $67,510 Prepaid expenses and other current assets 5,572 Total current assets 73,082 Identifiable intangible assets 6,940,000 Total identifiable assets acquired 7,013,082 Accounts payable (664,932) Net identifiable assets acquired 6,348,150 Goodwill 1,591,223 Total purchase price $7,939,373
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) Trade names $0.0 Indefinite Merchant relationships 6.9 8 $6.9
Payix
Business Acquisition [Line Items]
Summary of Preliminary Purchase Consideration	The following summarizes the preliminary purchase consideration paid to the sellers of Payix: Cash consideration $95,627,972 Contingent consideration (1) 2,850,000 Total purchase price $98,477,972 (1)
Summary of Preliminary and Final Purchase Allocation	The preliminary purchase price allocation is as follows: Cash and cash equivalents $702,575 Accounts receivable 1,715,292 Prepaid expenses and other current assets 93,891 Total current assets 2,511,758 Property, plant and equipment, net 83,449 Restricted cash 27,177 Other assets 655,588 Identifiable intangible assets 33,150,000 Total identifiable assets acquired 36,427,972 Accounts payable (214,195) Accrued expenses and other liabilities (2,022,846) Deferred tax liability (6,943,998) Net identifiable assets acquired 27,246,933 Goodwill 71,231,039 Total purchase price $98,477,972
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) Trade names $0.3 Indefinite Developed technology 12.4 3 Merchant relationships 20.5 10 $33.2

Fair Value of Assets and Liab_2

Fair Value of Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2021
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 our 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 9 and Note 10 for additional information on these assets and liabilities. December 31, 2021 Level 1 Level 2 Level 3 Total Assets: Other assets — 2,499,996 — 2,499,996 Total assets $ — $2,499,996 $ — $2,499,996 Liabilities: Contingent consideration $ — $ — $17,046,840 $17,046,840 Borrowings — 448,484,696 — 448,484,696 Tax receivable agreement — — 245,828,419 245,828,419 Total liabilities $ — $448,484,696 $262,875,259 $711,359,955 December 31, 2020 Level 1 Level 2 Level 3 Total Liabilities: Contingent consideration $ — $ — $15,800,000 $15,800,000 Borrowings — 256,713,396 — 256,713,396 Tax receivable agreement — — 229,228,105 229,228,105 Interest rate swap — 9,312,332 — 9,312,332 Total liabilities $ — $266,025,728 $245,028,105 $511,053,833
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. Year Ended December 31, 2021 Year Ended December 31, 2020 From July 11, 2019 to December 31, 2019 From January 1, 2019 to July 10, 2019 (Successor) (Predecessor) Balance at beginning of period $15,800,000 $14,250,000 $ — $1,816,988 Measurement period adjustment — 6,580,549 — — Purchases 4,350,000 15,800,000 14,250,000 — Payments (8,948,786) (18,320,549) — (1,816,988) Valuation adjustment 5,845,626 (2,510,000) — — Balance at end of period $17,046,840 $15,800,000 $14,250,000 $ —
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. Year Ended December 31, 2021 Year Ended December 31, 2020 From July 11, 2019 to December 31, 2019 From January 1, 2019 to July 10, 2019 (Successor) (Predecessor) Balance at beginning of period $229,228,105 $67,176,226 $ — $ — Purchases 2,491,251 149,612,393 67,176,226 — Payments — — — — Accretion expense 5,065,507 2,955,148 — — Valuation adjustment 9,043,556 9,484,338 — — Balance at end of period $245,828,419 $229,228,105 $67,176,226 $ —

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2021
Property Plant And Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment consisted of the following: December 31, December 31, 2021 2020 Furniture, fixtures, and office equipment $2,763,380 $1,112,702 Computers 3,408,336 1,733,672 Leasehold improvements 430,894 340,333 Total 6,602,610 3,186,707 Less: Accumulated depreciation and amortization 2,801,411 1,558,268 $3,801,199 $1,628,439

Intangible Assets (Tables)

Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule Of Intangible Assets	Intangible assets consisted of the following: Gross Carrying Value Accumulated Amortization Net Carrying Value Weighted Average Useful Life (Years) Client relationships $539,850,000 $83,014,231 $456,835,769 8.40 Channel relationships 12,550,000 1,146,935 11,403,065 8.65 Software costs 163,957,560 83,162,612 80,794,948 1.48 Non-compete agreements 4,580,000 4,059,880 520,120 0.88 Trade name 28,140,000 — 28,140,000 — Balance as of December 31, 2021 $749,077,560 $171,383,658 $577,693,902 6.79 Client relationships $308,450,000 $39,920,578 $268,529,422 8.64 Channel relationships 12,550,000 191,936 12,358,064 9.65 Software costs 104,715,101 40,280,116 64,434,985 1.85 Non-compete agreements 4,270,000 2,595,333 1,674,667 1.52 Trade name 22,230,000 — 22,230,000 — Balance as of December 31, 2020 $452,215,101 $82,987,963 $369,227,138 6.94
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 2022 $99,941,015 2023 81,630,840 2024 67,608,133 2025 55,288,759 2026 55,571,944 Thereafter 189,513,211

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Dec. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Changes to Goodwill	The following table presents changes to goodwill for the years ended December 31, 2021, 2020 and 2019: Total Balance at December 31, 2018 (Predecessor) $119,529,202 Acquisitions — Dispositions — Impairment Loss — Balance at July 10, 2019 (Predecessor) $119,529,202 Balance at July 11, 2019 (Successor) $339,911,400 Acquisitions 49,749,119 Dispositions — Impairment Loss — Balance at December 31, 2019 (Successor) $389,660,519 Acquisitions 62,263,733 Dispositions — Impairment Loss — Measurement period adjustment 7,046,003 Balance at December 31, 2020 458,970,255 Acquisitions 366,622,156 Dispositions — Impairment Loss — Measurement period adjustment (10,779) Other (1,500,000) Balance at December 31, 2021 $824,081,632

Borrowings (Tables)

Borrowings (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Summary of Borrowings under Credit Agreement	As of December 31, 2021 and 2020, total borrowings under the Successor Credit Agreement, Amended Credit Agreement, and 2026 Notes consisted of the following, respectively: December 31, 2021 December 31, 2020 Non-current indebtedness: Term Loan (1) $ — $262,653,996 Revolving Credit Facility (2) 20,000,000 — Convertible Senior Debt 440,000,000 — Total borrowings under credit facility 460,000,000 262,653,996 Less: Current maturities of long-term debt (3) — 6,760,650 Less: Long-term loan debt issuance cost (4) 11,515,304 5,940,600 Total non-current borrowings $448,484,696 $249,952,746 (1) The Term Loan bears interest at a variable rate, which was 3.65 % as of December 31, 2020. (2) The Revolving Credit Facility bears interest at a variable rate, which was 2.35% as of December 31, 2021. (3) Pursuant to the terms of the Amended Credit Agreement, the Company was 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”). (4) The Company incurred $2.5 million, $1.4 million and $0.6 million of interest expense for the amortization of deferred debt issuance costs for the years ended December 31, 2021 and 2020, and the period from July 11, 2020 to December 31, 2019, respectively. The Predecessor incurred $0.2 million for the period from January 1, 2019 to July 10, 2019.
Summary of Principal Maturities of Long-term Debt	Following is a summary of principal maturities of the Term Loans outstanding as of December 31, 2021 for each of the next five years ending December 31 and in the aggregate: 2022 $ — 2023 — 2024 — 2025 — 2026 460,000,000 2027 — $460,000,000

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2021
Commitments And Contingencies Disclosure [Abstract]
Summary of Components of Lease Cost	The components of lease cost are presented in the following table: Year Ended December 31, 2021 Year Ended December 31, 2020 Components of total lease costs: Operating lease cost $2,370,643 $1,745,575 Short-term lease cost 100,607 48,150 Variable lease cost — — Total lease cost $2,471,250 $1,793,725
Schedule of Operating Lease and Supplemental Information	Amounts reported in the Consolidated Balance Sheets were as follows: December 31, 2021 December 31, 2020 Operating Leases: Right-of-use assets $10,499,751 $10,074,506 Lease liability, current 1,990,416 1,527,224 Lease liability, long-term 9,090,867 8,836,655 Total lease liabilities $11,081,283 $10,363,879 Weighted-average remaining lease term (in years) 5.2 6.2 Weighted-average discount rate (annualized) 4.3% 4.6%
Summary of Other Information Related to Lease	Other information related to leases are as follows: Year Ended December 31, 2021 Year Ended December 31, 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $2,168,767 $1,504,352 Right-of-use assets obtained in exchange for lease liabilities: Operating leases 2,438,075 11,430,120
Schedule of Maturity Analysis of the Company's Operating Leases Liabilities	The following table presents a maturity analysis of the Company’s operating leases liabilities as of December 31, 2021: 2022 $2,423,447 2023 2,481,751 2024 2,303,054 2025 2,124,094 2026 1,835,155 Thereafter 1,260,395 Total undiscounted lease payments 12,427,896 Less: Imputed interest 1,346,613 Total lease liabilities $11,081,283

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
Schedule of Related Party Payables	Related party payables consisted of the following: December 31, December 31, 2021 2020 Ventanex accrued earnout liability $12,746,840 $4,800,000 cPayPlus accrued earnout liability — 6,500,000 CPS accrued earnout liability 600,000 4,500,000 Kontrol accrued earnout liability 850,000 — Payix accrued earnout liability 2,850,000 — Other payables to related parties 347,285 11,597 $17,394,125 $15,811,597

Share Based Compensation (Table

Share Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Schedule of Share Based Compensation Expense and Related Income Tax Benefit	The following table summarized share-based compensation expense and the related income tax benefit recognized for the Company’s share-based compensation awards: Year Ended December 31, From July 11, 2019 to ($ in millions) 2021 2020 December 31, 2019 Share-based compensation expense $22.3 $19.4 $22.0 Income tax benefit 3.4 0.5 1.1
Schedule of Outstanding Restricted Stock Awards, Restricted Stock Units and Performance Stock Units Activity	Activity for the years ended December 31, 2021 and 2020, and the period from July 11, 2019 to December 31, 2019 were as follows: Class A Common Stock Weighted Average Grant Date Fair Value Unvested at July 11, 2019 — $ — Granted 3,275,229 12.07 Forfeited (1) 321,263 11.81 Vested 1,135,291 11.68 Unvested at December 31, 2019 1,818,675 12.39 Granted 1,389,063 18.40 Forfeited (1) (2) 80,794 13.40 Vested 603,513 12.10 Unvested at December 31, 2020 2,523,431 15.71 Granted 994,287 22.68 Forfeited (1) (2) 418,330 16.46 Vested 583,754 15.63 Unvested at December 31, 2021 2,515,634 $18.30 (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 Incentive Plan. (2) The forfeited shares include employee terminations during the years ended December 31, 2021 and 2020; further, these forfeited shares are added back to the amount of shares available for grant under the Incentive Plan.
Summary of Changes in Non-Vested Units Outstanding	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 — $ —

Taxation (Tables)

Taxation (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of Loss Before Income Taxes	The components of loss before income taxes are as follows: Year Ended December 31, 2021 Year Ended December 31, 2020 July 11, 2019 to December 31, 2019 January 1, 2019 to July 10, 2019 (Successor) (Predecessor) Domestic $(87,352,396) $(129,267,523) $(51,540,441) $(23,668,078) Foreign 624,677 (456,747) (269,721) (74,452) Loss before income tax benefit $(86,727,719) $(129,724,270) $(51,810,162) $(23,742,530)
Schedule of Provision for Income Tax	The Company recorded a provision for income tax as follows: Year Ended December 31, 2021 Year Ended December 31, 2020 July 11, 2019 to December 31, 2019 January 1, 2019 to July 10, 2019 (Successor) (Predecessor) Current expense Federal $34,401 $ — $ — $ — State 2,367 — — — Foreign — — — — Total current expense $36,768 $ — $ — $ — Deferred expense Federal $(18,113,316) $(10,523,778) $(4,343,013) $ — State (12,799,753) (1,708,969) (575,152) — Foreign 185,145 (125,278) (72,824) — Total deferred benefit (30,727,924) (12,358,025) (4,990,989) — Income tax benefit $(30,691,156) $(12,358,025) $(4,990,989) $ —
Schedule of Reconciliation of United States Statutory Income Tax Rate to Effective Income Tax Rate	A reconciliation of the United States statutory income tax rate to the Company’s effective income tax rate is as follows for the years indicated: Year Ended December 31, 2021 Year Ended December 31, 2020 July 11, 2019 to December 31, 2019 January 1, 2019 to July 10, 2019 (Successor) (Predecessor) Federal income tax expense 21.0% 21.0% 21.0% 0.0% State taxes, net of federal benefit 5.2% 1.3% 1.1% 0.0% Income attributable to noncontrolling interest (1.4%) (1.8%) (6.1%) 0.0% Excess tax benefit related to share-based compensation 0.6% 0.4% 0.4% 0.0% Change in fair value of warrant liabilities 0.0% (11.5%) (6.2%) 0.0% State rate change impact on deferred taxes 9.5% 0.0% 0.0% 0.0% Other, net 0.5% 0.1% (0.6%) 0.0% Total deferred benefit 35.4% 9.5% 9.6% 0.0%
Schedule of Deferred Tax Assets and Liabilities	Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Details of the Company's deferred tax assets and liabilities are as follows: December 31, 2021 December 31, 2020 Deferred tax assets Tax Credits $1,547,569 $522,081 Section 163(j) Limitation Carryover 26,800 250,095 Acquisition Costs 348,158 352,291 Federal Net Operating Losses 25,283,737 8,834,924 State Net Operating Losses 4,907,835 1,264,059 Foreign Net Operating Losses 16,556 202,517 Other Assets 6,794,593 2,997,426 Partnership basis tax differences 130,440,236 154,253,345 Total deferred tax asset 169,365,484 168,676,738 Valuation allowance (16,393,745) (33,339,509) Total deferred tax asset, net of valuation allowance 152,971,739 135,337,229 Deferred tax liabilities Other Intangibles - Payix (7,711,856) — Total deferred tax liabilities (7,711,856) — Net deferred tax assets $145,259,883 $135,337,229

Organizational Structure and _2

Organizational Structure and Corporate Information - Additional Information (Details) - USD ($)	Dec. 29, 2021	Jun. 22, 2021	Jun. 15, 2021	Jan. 19, 2021	Dec. 31, 2021	Dec. 31, 2020	Jan. 01, 2021
Summary Of Significant Accounting Policies [Line Items]
Payments made to acquire business					$ 1,500,000	$ 4,070,549
BT Intermediate LLC
Summary Of Significant Accounting Policies [Line Items]
Payments made to acquire business			$ 505,800,000
Business combination, cash consideration			$ 277,500,000
Kontrol LLC
Summary Of Significant Accounting Policies [Line Items]
Payments made to acquire business		$ 7,400,000
Business combination, cash consideration		$ 10,500,000
Payix Holdings Incorporated
Summary Of Significant Accounting Policies [Line Items]
Payments made to acquire business	$ 95,600,000
Business combination, cash consideration	115,000,000
Contingent earn-out right to be received	$ 20,000,000
2026 Notes
Summary Of Significant Accounting Policies [Line Items]
Aggregate principal amount							$ 440,000,000
Notes Offering | 2026 Notes
Summary Of Significant Accounting Policies [Line Items]
Aggregate principal amount				$ 440,000,000
Debt Instrument, Interest Rate, Stated Percentage				0.00%
Debt instrument, maturity date				Feb. 1, 2026
Additional Option for Initial Purchasers | 2026 Notes
Summary Of Significant Accounting Policies [Line Items]
Aggregate principal amount				$ 40,000,000
Class A Common Stock | BT Intermediate LLC
Summary Of Significant Accounting Policies [Line Items]
Business combination, stock transaction			10,000,000
Business combination, common stock voting power			10.00%
Class A Common Stock | Equity Offering
Summary Of Significant Accounting Policies [Line Items]
Issuance of new shares, shares				6,244,500
Number of shares of common stock sold				814,500
Public offering price				$ 24

Basis of Presentation and Sum_4

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details)	6 Months Ended		12 Months Ended
	Dec. 31, 2019USD ($)	Jul. 10, 2019USD ($)	Dec. 31, 2021USD ($)SegmentMerchantshares	Dec. 31, 2020USD ($)	Jan. 01, 2021USD ($)	Jul. 11, 2019
Summary Of Significant Accounting Policies [Line Items]
Number of operating segment | Segment			1
Number of merchant represents greater than 10% of volume or profit basis | Merchant			0
Intangible assets, estimated useful life			6 years 9 months 14 days	6 years 11 months 8 days
Impairment of intangible assets				$ 0
Impairment of goodwill	$ 0	$ 0	$ 0	0
Lease, Practical Expedients, Package [true false]			true
Lease, Practical Expedient, Use of Hindsight [true false]			true
Net loss attributable to noncontrolling interest	15,271,043		$ 5,952,390	11,769,683
Debt issuance costs			$ 11,515,304	$ 5,940,600
2026 Notes
Summary Of Significant Accounting Policies [Line Items]
Aggregate principal amount					$ 440,000,000
Debt issuance costs					$ 11,400,000
Hawk Parent Holdings LLC
Summary Of Significant Accounting Policies [Line Items]
Noncontrolling interest, ownership percentage			91.90%	89.80%		55.90%
Net loss attributable to noncontrolling interest	15,300,000		$ 6,000,000	$ 11,800,000
ASU 2016-02
Summary Of Significant Accounting Policies [Line Items]
Change in accounting principle, ASU, adopted			true
Change in accounting principle, ASU, adoption date			Jan. 1, 2020
Change in accounting principle, ASU, Transition option elected			us-gaap:AccountingStandardsUpdate201602RetrospectiveMember
Incentive Plan
Summary Of Significant Accounting Policies [Line Items]
Common stock reserved for issuance | shares			7,326,728
Incentive Plan | Class A Common Stock
Summary Of Significant Accounting Policies [Line Items]
Common stock reserved for issuance | shares			7,326,728
Selling, General and Administrative Expenses
Summary Of Significant Accounting Policies [Line Items]
Transaction costs	$ 3,900,000	$ 16,200,000	$ 9,300,000	$ 4,200,000
Purchased Software
Summary Of Significant Accounting Policies [Line Items]
Intangible assets, estimated useful life			1 year 5 months 23 days	1 year 10 months 6 days
Channel Relationships
Summary Of Significant Accounting Policies [Line Items]
Intangible assets, estimated useful life			8 years 7 months 24 days	9 years 7 months 24 days
Client Relationships
Summary Of Significant Accounting Policies [Line Items]
Intangible assets, estimated useful life			8 years 4 months 24 days	8 years 7 months 20 days
Trade Names | TriSource, APS, Ventanex, cPayPlus and CPS
Summary Of Significant Accounting Policies [Line Items]
Impairment of intangible assets			$ 2,200,000
Maximum | Software Development Costs
Summary Of Significant Accounting Policies [Line Items]
Intangible assets, estimated useful life			3 years
Maximum | Purchased Software
Summary Of Significant Accounting Policies [Line Items]
Intangible assets, estimated useful life			3 years
Maximum | Channel Relationships
Summary Of Significant Accounting Policies [Line Items]
Intangible assets, estimated useful life			10 years
Maximum | Client Relationships
Summary Of Significant Accounting Policies [Line Items]
Intangible assets, estimated useful life			10 years
Volume or Profit Basis | Customer Concentration Risk | Minimum
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage			10.00%

Basis of Presentation and Sum_5

Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Estimated Useful Life of Property and Equipment (Details)	12 Months Ended
	Dec. 31, 2021
Furniture, Fixtures, and Office Equipment
Summary Of Significant Accounting Policies [Line Items]
Estimated Useful Life	5 years
Computers
Summary Of Significant Accounting Policies [Line Items]
Estimated Useful Life	3 years
Leasehold Improvements
Summary Of Significant Accounting Policies [Line Items]
Estimated Useful Life	5 years

Revenue - Summary of Disaggrega

Revenue - Summary of Disaggregation of Revenue (Details) - USD ($)	6 Months Ended		12 Months Ended
	Dec. 31, 2019	Jul. 10, 2019	Dec. 31, 2021	Dec. 31, 2020
Revenue
Total Revenue	$ 57,560,470	$ 47,042,917	$ 219,258,038	$ 155,035,943
Direct Relationships
Revenue
Total Revenue	56,370,030	45,693,961	213,251,782	152,247,190
Indirect Relationship
Revenue
Total Revenue	$ 1,190,440	$ 1,348,956	$ 6,006,256	$ 2,788,753

Earnings Per Share - Summary of

Earnings Per Share - Summary of Net Loss and Weighted Average Basic and Diluted Shares Outstanding (Details) - USD ($)	6 Months Ended		12 Months Ended
	Dec. 31, 2019	Jul. 10, 2019	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share [Abstract]
Loss before income tax expense	$ (51,810,162)	$ (23,742,530)	$ (86,727,719)	$ (129,724,270)
Less: Net loss attributable to non-controlling interests	(15,271,043)		(5,952,390)	(11,769,683)
Income tax benefit	4,990,989		30,691,156	12,358,025
Net loss attributable to the Company	$ (31,548,130)	$ (23,742,530)	$ (50,084,173)	$ (105,596,562)
Weighted average shares of Class A common stock outstanding - basic and diluted	35,731,220		83,318,189	52,180,911
Loss per share of Class A common stock outstanding - basic and diluted	$ (0.88)		$ (0.60)	$ (2.02)

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	6 Months Ended	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2020
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Share equivalents excluded from earnings (loss) per share	33,033,747	23,537,448	10,543,711
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	21,985,297	7,926,576	8,334,160
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	1,816,890
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	1,731,560	2,515,634	2,209,551
Class A Common Stock | 2026 Notes Convertible
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Share equivalents excluded from earnings (loss) per share		13,095,238

Business Combinations - Additio

Business Combinations - Additional Information (Details)

Dec. 31, 2021USD ($)

Dec. 29, 2021USD ($)

Sep. 17, 2021USD ($)

Jun. 22, 2021USD ($)

Jun. 15, 2021USD ($)

Nov. 02, 2020USD ($)EarnoutPayment

Jul. 23, 2020USD ($)

Apr. 06, 2020USD ($)

Feb. 10, 2020USD ($)

Oct. 14, 2019USD ($)EarnoutPayment

Aug. 13, 2019USD ($)

Jul. 11, 2019USD ($)shares

Oct. 31, 2020USD ($)

Dec. 31, 2021USD ($)

Dec. 31, 2021USD ($)

Dec. 31, 2021USD ($)

Dec. 31, 2020USD ($)

Feb. 28, 2021USD ($)

Dec. 31, 2019USD ($)

Jul. 10, 2019USD ($)

Dec. 31, 2018USD ($)

Business Acquisition [Line Items]

Goodwill

$ 824,081,632

$ 339,911,400

$ 824,081,632

$ 824,081,632

$ 824,081,632

$ 458,970,255

$ 389,660,519

$ 119,529,202

$ 119,529,202

Payments made to acquire business

$ 1,500,000

$ 4,070,549

Revenue

31,300,000

Net income

$ 0

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 of the Business Combination 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 of the Business Combination, minus (v) the amount of the indebtedness and other debt-like items of Hawk Parent and its subsidiaries as of the closing of the Business Combination, 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 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

Goodwill expected to be deductible for tax purposes

279,200,000

Cash Consideration

260,811,062

Payments made to acquire business

$ 558,705,050

TriSource

Business Acquisition [Line Items]

Goodwill

$ 30,868,261

Goodwill expected to be deductible for tax purposes

32,200,000

Cash Consideration

60,235,090

Earnout payment

$ 4,000,000

Payments made to acquire business

62,485,090

TriSource | Maximum

Business Acquisition [Line Items]

Contingent earn-out right to be received

$ 5,000,000

APS

Business Acquisition [Line Items]

Goodwill

$ 25,926,861

Goodwill expected to be deductible for tax purposes

21,700,000

Cash Consideration

30,465,454

Earnout payment

$ 14,300,000

$ 30,000,000

Number of cash earn-out payments | EarnoutPayment

3

Payments made to acquire business

$ 49,046,003

Ventanex

Business Acquisition [Line Items]

Goodwill

$ 12,200,461

Goodwill expected to be deductible for tax purposes

8,300,000

Cash Consideration

35,939,129

Contingent earn-out right to be received

$ 900,000

Earnout payment

$ 12,700,000

Payments made to acquire business

40,739,129

Ventanex | Maximum

Business Acquisition [Line Items]

Contingent earn-out right to be received

$ 14,000,000

cPayPlus

Business Acquisition [Line Items]

Goodwill

$ 6,713,646

Goodwill expected to be deductible for tax purposes

8,200,000

Cash Consideration

7,956,963

Earnout payment

$ 8,000,000

Payments made to acquire business

14,456,963

cPayPlus | Maximum

Business Acquisition [Line Items]

Contingent earn-out right to be received

$ 8,000,000

CPS Payment Services LLC and Media Payments, LLC

Business Acquisition [Line Items]

Goodwill

$ 43,300,000

Goodwill expected to be deductible for tax purposes

38,800,000

Cash Consideration

$ 83,900,000

Number of cash earn-out payments | EarnoutPayment

2

CPS Payment Services LLC and Media Payments, LLC | Maximum

Business Acquisition [Line Items]

Contingent earn-out right to be received

$ 15,000,000

Billing Tree

Business Acquisition [Line Items]

Goodwill

$ 293,799,895

Goodwill expected to be deductible for tax purposes

47,700,000

Cash Consideration

277,521,139

Payments made to acquire business

505,771,139

Kontrol

Business Acquisition [Line Items]

Goodwill

$ 1,591,223

Goodwill expected to be deductible for tax purposes

1,100,000

Cash Consideration

7,439,373

Contingent earn-out right to be received

3,000,000

Earnout payment

$ 900,000

Payments made to acquire business

7,939,373

Revenue

1,700,000

Net income

$ 600,000

Kontrol | Maximum

Business Acquisition [Line Items]

Contingent earn-out right to be received

$ 10,500,000

Payix

Business Acquisition [Line Items]

Goodwill

$ 71,231,039

Goodwill expected to be deductible for tax purposes

0

Cash Consideration

95,627,972

Contingent earn-out right to be received

20,000,000

Earnout payment

2,900,000

Payments made to acquire business

98,477,972

Revenue

100,000

Net income

$ 0

Payix | Maximum

Business Acquisition [Line Items]

Contingent earn-out right to be received

$ 20,000,000

Class V Common Stock

Business Acquisition [Line Items]

Number of shares exchanged for limited liability interest | shares

1

Class A Common Stock | Billing Tree

Business Acquisition [Line Items]

Business combination, stock transaction

$ 10,000,000

Post Merger Repay Units

Business Acquisition [Line Items]

Percentage of tax savings

100.00%

Post Merger Repay Units | Class A Common Stock

Business Acquisition [Line Items]

Number of shares exchanged for limited liability interest | shares

1

Business Combinations - Summary

Business Combinations - Summary of Preliminary Purchase Consideration (Details) - USD ($)	Dec. 29, 2021	Jun. 22, 2021	Jun. 15, 2021	Nov. 02, 2020	Jul. 23, 2020	Feb. 10, 2020	Oct. 14, 2019	Aug. 13, 2019	Jul. 11, 2019	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Total purchase price										$ 1,500,000	$ 4,070,549
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
Business Acquisition [Line Items]
Cash Consideration								$ 60,235,090
Contingent consideration								2,250,000
Total purchase price								$ 62,485,090
APS
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					$ 7,956,963
Contingent consideration					6,500,000
Total purchase price					$ 14,456,963
CPS Payment Services
Business Acquisition [Line Items]
Cash Consideration				$ 83,886,556
Contingent consideration				4,500,000
Total purchase price				$ 88,386,556
Billing Tree
Business Acquisition [Line Items]
Cash Consideration			$ 277,521,139
Class A common stock issued			228,250,000
Total purchase price			$ 505,771,139
Kontrol
Business Acquisition [Line Items]
Cash Consideration		$ 7,439,373
Contingent consideration		500,000
Total purchase price		$ 7,939,373
Payix
Business Acquisition [Line Items]
Cash Consideration	$ 95,627,972
Contingent consideration	2,850,000
Total purchase price	$ 98,477,972

Business Combinations - Summa_2

Business Combinations - Summary of Preliminary Purchase Consideration (Parenthetical) (Details)

Dec. 29, 2021USD ($)

Sep. 17, 2021USD ($)

Nov. 02, 2020USD ($)EarnoutPayment

Apr. 06, 2020USD ($)

Oct. 14, 2019USD ($)EarnoutPayment

Jul. 11, 2019USD ($)$ / sharesshares

Oct. 31, 2020USD ($)

Dec. 31, 2021USD ($)

Dec. 31, 2020USD ($)

Jun. 22, 2021USD ($)

Feb. 28, 2021USD ($)

Jul. 23, 2020USD ($)

Feb. 10, 2020USD ($)

Aug. 13, 2019USD ($)

Hawk Parent Holdings LLC

Business Acquisition [Line Items]

Number of shares issued | shares

22,045,297

Business combination price per share | $ / shares

$ 10

Earn-out units received | shares

7,500,000

Tax receivable agreement liability

$ 65,537,761

Hawk Parent Holdings LLC | Tax Receivable Agreement

Business Acquisition [Line Items]

Tax receivable agreement liability

$ 65,500,000

TriSource

Business Acquisition [Line Items]

Earnout payment

$ 4,000,000

TriSource | Maximum

Business Acquisition [Line Items]

Contingent earn-out right to be received

$ 5,000,000

APS

Business Acquisition [Line Items]

Earnout payment

$ 14,300,000

$ 30,000,000

Remaining earn-out payment adjusted to first payment

$ 0

Adjustment included in change in fair value of contingent consideration

$ 4,300,000

Number of cash earn-out payments | EarnoutPayment

3

Ventanex

Business Acquisition [Line Items]

Contingent earn-out right to be received

$ 900,000

Earnout payment

$ 12,700,000

Adjustment included in change in fair value of contingent consideration

7,900,000

Ventanex | Maximum

Business Acquisition [Line Items]

Contingent earn-out right to be received

$ 14,000,000

cPayPlus

Business Acquisition [Line Items]

Earnout payment

$ 8,000,000

cPayPlus | Maximum

Business Acquisition [Line Items]

Contingent earn-out right to be received

$ 8,000,000

CPS Payment Services

Business Acquisition [Line Items]

Earnout payment

600,000

Adjustment included in change in fair value of contingent consideration

(3,900,000)

Number of cash earn-out payments | EarnoutPayment

2

CPS Payment Services | Maximum

Business Acquisition [Line Items]

Contingent earn-out right to be received

$ 15,000,000

Kontrol

Business Acquisition [Line Items]

Contingent earn-out right to be received

$ 3,000,000

Earnout payment

900,000

Adjustment included in change in fair value of contingent consideration

$ 400,000

Kontrol | Maximum

Business Acquisition [Line Items]

Contingent earn-out right to be received

$ 10,500,000

Payix

Business Acquisition [Line Items]

Contingent earn-out right to be received

$ 20,000,000

Earnout payment

2,900,000

Payix | Maximum

Business Acquisition [Line Items]

Contingent earn-out right to be received

$ 20,000,000

Business Combinations - Summa_3

Business Combinations - Summary of Preliminary and Final Purchase Allocation (Details) - USD ($)	Dec. 31, 2021	Dec. 29, 2021	Jun. 22, 2021	Jun. 15, 2021	Dec. 31, 2020	Nov. 02, 2020	Jul. 23, 2020	Feb. 10, 2020	Dec. 31, 2019	Oct. 14, 2019	Aug. 13, 2019	Jul. 11, 2019	Jul. 10, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Goodwill	$ 824,081,632				$ 458,970,255				$ 389,660,519			$ 339,911,400	$ 119,529,202	$ 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
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
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							6,713,646
Total purchase price							$ 14,456,963
CPS
Business Acquisition [Line Items]
Cash and cash equivalents						$ 1,667,066
Accounts receivable						2,810,158
Prepaid expenses and other current assets						2,615,615
Total current assets						7,092,839
Property, plant and equipment, net						19,391
Restricted cash						407
Identifiable intangible assets						30,830,000
Total identifiable assets acquired						37,942,637
Accounts payable						(2,004,371)
Accrued expenses						(2,143,680)
Net identifiable assets acquired						33,794,586
Goodwill						40,747,939
Total purchase price						74,542,525
MPI
Business Acquisition [Line Items]
Cash and cash equivalents						2,097,921
Accounts receivable						5,556,958
Prepaid expenses and other current assets						934,751
Total current assets						8,589,630
Property, plant and equipment, net						2,995
Restricted cash						35,318
Identifiable intangible assets						7,110,000
Total identifiable assets acquired						15,737,943
Accounts payable						(4,495,599)
Net identifiable assets acquired						11,242,344
Goodwill						2,601,687
Total purchase price						$ 13,844,031
Billing Tree
Business Acquisition [Line Items]
Cash and cash equivalents				$ 8,243,570
Accounts receivable				3,623,894
Prepaid expenses and other current assets				1,601,854
Total current assets				13,469,318
Property, plant and equipment, net				541,244
Restricted cash				274,954
Other assets				1,782,489
Identifiable intangible assets				236,810,000
Total identifiable assets acquired				252,878,005
Accounts payable				(2,552,251)
Accrued expenses and other liabilities				(6,982,919)
Deferred tax liability				(31,371,590)
Net identifiable assets acquired				211,971,245
Goodwill				293,799,895
Total purchase price				$ 505,771,140
Kontrol
Business Acquisition [Line Items]
Accounts receivable			$ 67,510
Prepaid expenses and other current assets			5,572
Total current assets			73,082
Identifiable intangible assets			6,940,000
Total identifiable assets acquired			7,013,082
Accounts payable			(664,932)
Net identifiable assets acquired			6,348,150
Goodwill			1,591,223
Total purchase price			$ 7,939,373
Payix
Business Acquisition [Line Items]
Cash and cash equivalents		$ 702,575
Accounts receivable		1,715,292
Prepaid expenses and other current assets		93,891
Total current assets		2,511,758
Property, plant and equipment, net		83,449
Restricted cash		27,177
Other assets		655,588
Identifiable intangible assets		33,150,000
Total identifiable assets acquired		36,427,972
Accounts payable		(214,195)
Accrued expenses and other liabilities		(2,022,846)
Deferred tax liability		(6,943,998)
Net identifiable assets acquired		27,246,933
Goodwill		71,231,039
Total purchase price		$ 98,477,972

Business Combinations - Summa_4

Business Combinations - Summary of Preliminary Values Allocated to Identifiable Intangible Assets and Estimated Useful Lives (Details) - USD ($)	Dec. 29, 2021	Jun. 22, 2021	Jun. 15, 2021	Nov. 02, 2020	Jul. 23, 2020	Feb. 10, 2020	Oct. 14, 2019	Aug. 13, 2019	Jul. 11, 2019	Dec. 31, 2021
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, useful life, description										Indefinite
Identifiable intangible assets, fair value									$ 20,000,000
Hawk Parent Holdings LLC | Non-Complete Agreements
Business Acquisition [Line Items]
Identifiable intangible assets, useful life									2 years
Identifiable intangible assets, fair value									$ 3,000,000
Hawk Parent Holdings LLC | Developed Technology
Business Acquisition [Line Items]
Identifiable intangible assets, useful life									3 years
Identifiable intangible assets, fair value									$ 65,000,000
Hawk Parent Holdings LLC | Merchant Relationships
Business Acquisition [Line Items]
Identifiable intangible assets, useful life									10 years
Identifiable intangible assets, fair value									$ 210,000,000
Hawk Parent Holdings LLC | Channel Relationships
Business Acquisition [Line Items]
Identifiable intangible assets, useful life									10 years
Identifiable intangible assets, fair value									$ 3,000,000
TriSource
Business Acquisition [Line Items]
Identifiable intangible assets, fair value								$ 30,500,000
TriSource | Trade Names
Business Acquisition [Line Items]
Identifiable intangible assets, useful life, description										Indefinite
Identifiable intangible assets, fair value								$ 700,000
TriSource | Non-Complete Agreements
Business Acquisition [Line Items]
Identifiable intangible assets, useful life								5 years
Identifiable intangible assets, fair value								$ 400,000
TriSource | Developed Technology
Business Acquisition [Line Items]
Identifiable intangible assets, useful life								3 years
Identifiable intangible assets, fair value								$ 3,900,000
TriSource | Merchant Relationships
Business Acquisition [Line Items]
Identifiable intangible assets, useful life								10 years
Identifiable intangible assets, fair value								$ 25,500,000
APS
Business Acquisition [Line Items]
Identifiable intangible assets, fair value							$ 21,500,000
APS | Trade Names
Business Acquisition [Line Items]
Identifiable intangible assets, useful life, description										Indefinite
Identifiable intangible assets, fair value							$ 500,000
APS | Non-Complete Agreements
Business Acquisition [Line Items]
Identifiable intangible assets, useful life							5 years
Identifiable intangible assets, fair value							$ 500,000
APS | Merchant Relationships
Business Acquisition [Line Items]
Identifiable intangible assets, useful life							9 years
Identifiable intangible assets, fair value							$ 20,500,000
Ventanex
Business Acquisition [Line Items]
Identifiable intangible assets, fair value						$ 26,890,000
Ventanex | Trade Names
Business Acquisition [Line Items]
Identifiable intangible assets, useful life, description										Indefinite
Identifiable intangible assets, fair value						$ 400,000
Ventanex | Non-Complete Agreements
Business Acquisition [Line Items]
Identifiable intangible assets, useful life						5 years
Identifiable intangible assets, fair value						$ 100,000
Ventanex | Developed Technology
Business Acquisition [Line Items]
Identifiable intangible assets, useful life						3 years
Identifiable intangible assets, fair value						$ 4,100,000
Ventanex | Merchant Relationships
Business Acquisition [Line Items]
Identifiable intangible assets, useful life						10 years
Identifiable intangible assets, fair value						$ 22,300,000
cPayPlus
Business Acquisition [Line Items]
Identifiable intangible assets, fair value					$ 7,720,000
cPayPlus | Trade Names
Business Acquisition [Line Items]
Identifiable intangible assets, useful life, description										Indefinite
Identifiable intangible assets, fair value					$ 100,000
cPayPlus | Non-Complete Agreements
Business Acquisition [Line Items]
Identifiable intangible assets, useful life					5 years
Identifiable intangible assets, fair value					$ 100,000
cPayPlus | Developed Technology
Business Acquisition [Line Items]
Identifiable intangible assets, useful life					3 years
Identifiable intangible assets, fair value					$ 6,700,000
cPayPlus | Merchant Relationships
Business Acquisition [Line Items]
Identifiable intangible assets, useful life					10 years
Identifiable intangible assets, fair value					$ 800,000
MPI
Business Acquisition [Line Items]
Identifiable intangible assets, fair value				$ 7,110,000
MPI | Trade Names
Business Acquisition [Line Items]
Identifiable intangible assets, useful life, description										Indefinite
Identifiable intangible assets, fair value				$ 100,000
MPI | Non-Complete Agreements
Business Acquisition [Line Items]
Identifiable intangible assets, useful life				4 years
Identifiable intangible assets, fair value				$ 100,000
MPI | Developed Technology
Business Acquisition [Line Items]
Identifiable intangible assets, useful life				3 years
Identifiable intangible assets, fair value				$ 700,000
MPI | Merchant Relationships
Business Acquisition [Line Items]
Identifiable intangible assets, useful life				10 years
Identifiable intangible assets, fair value				$ 6,300,000
CPS Payment Services
Business Acquisition [Line Items]
Identifiable intangible assets, fair value				30,830,000
CPS Payment Services | Trade Names
Business Acquisition [Line Items]
Identifiable intangible assets, useful life, description										Indefinite
Identifiable intangible assets, fair value				$ 500,000
CPS Payment Services | Non-Complete Agreements
Business Acquisition [Line Items]
Identifiable intangible assets, useful life				4 years
Identifiable intangible assets, fair value				$ 100,000
CPS Payment Services | Developed Technology
Business Acquisition [Line Items]
Identifiable intangible assets, useful life				3 years
Identifiable intangible assets, fair value				$ 7,200,000
CPS Payment Services | Merchant Relationships
Business Acquisition [Line Items]
Identifiable intangible assets, useful life				10 years
Identifiable intangible assets, fair value				$ 23,000,000
Billing Tree
Business Acquisition [Line Items]
Identifiable intangible assets, fair value			$ 236,810,000
Billing Tree | Trade Names
Business Acquisition [Line Items]
Identifiable intangible assets, useful life, description										Indefinite
Identifiable intangible assets, fair value			$ 7,800,000
Billing Tree | Non-Complete Agreements
Business Acquisition [Line Items]
Identifiable intangible assets, useful life			2 years
Identifiable intangible assets, fair value			$ 300,000
Billing Tree | Developed Technology
Business Acquisition [Line Items]
Identifiable intangible assets, useful life			3 years
Identifiable intangible assets, fair value			$ 26,200,000
Billing Tree | Merchant Relationships
Business Acquisition [Line Items]
Identifiable intangible assets, useful life			10 years
Identifiable intangible assets, fair value			$ 202,500,000
Kontrol
Business Acquisition [Line Items]
Identifiable intangible assets, fair value		$ 6,940,000
Kontrol | Trade Names
Business Acquisition [Line Items]
Identifiable intangible assets, useful life, description										Indefinite
Identifiable intangible assets, fair value		$ 0
Kontrol | Merchant Relationships
Business Acquisition [Line Items]
Identifiable intangible assets, useful life		8 years
Identifiable intangible assets, fair value		$ 6,900,000
Payix
Business Acquisition [Line Items]
Identifiable intangible assets, fair value	$ 33,150,000
Payix | Trade Names
Business Acquisition [Line Items]
Identifiable intangible assets, useful life, description										Indefinite
Identifiable intangible assets, fair value	$ 300,000
Payix | Developed Technology
Business Acquisition [Line Items]
Identifiable intangible assets, useful life	3 years
Identifiable intangible assets, fair value	$ 12,400,000
Payix | Merchant Relationships
Business Acquisition [Line Items]
Identifiable intangible assets, useful life	10 years
Identifiable intangible assets, fair value	$ 20,500,000

Business Combinations - Summa_5

Business Combinations - Summary of Pro Forma Financial Information (Details) - USD ($)	7 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Revenue	$ 31,300,000
Net income	$ 0
Ventanex, cPayPlus, CPS, BillingTree, Kontrol and Payrix
Business Acquisition [Line Items]
Revenue		$ 257,014,219	$ 234,656,115
Net income		(54,626,915)	(120,849,273)
Net loss attributable to non-controlling interests		(5,813,388)	(12,792,802)
Net loss attributable to the Company		$ (48,813,527)	$ (108,056,471)
Loss per Class A share - basic and diluted		$ (0.56)	$ (1.74)

Fair Value of Assets and Liab_3

Fair Value of Assets and Liabilities - Summary of Carrying Amounts and Estimated Fair Values of Assets and Liabilities Measured at Fair Value (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Assets:
Other assets	$ 2,499,996
Total assets	2,499,996
Liabilities:
Contingent consideration	17,046,840	$ 15,800,000
Borrowings	448,484,696	256,713,396
Tax receivable agreement	245,828,419	229,228,105
Interest rate swap		9,312,332
Total liabilities	711,359,955	511,053,833
Level 2
Assets:
Other assets	2,499,996
Total assets	2,499,996
Liabilities:
Borrowings	448,484,696	256,713,396
Interest rate swap		9,312,332
Total liabilities	448,484,696	266,025,728
Level 3
Liabilities:
Contingent consideration	17,046,840	15,800,000
Tax receivable agreement	245,828,419	229,228,105
Total liabilities	$ 262,875,259	$ 245,028,105

Fair Value of Assets and Liab_4

Fair Value of Assets and Liabilities - Additional Information (Details)	1 Months Ended		12 Months Ended
	Feb. 29, 2020USD ($)	Oct. 31, 2019USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020	Sep. 30, 2020USD ($)	Dec. 31, 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			$ 65,000,000
Term of agreement	60 months	57 months
Variable-rate term loan		$ 140,000,000	$ 205,000,000
Interest Rate Swap Agreement | Other Loss
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative, Notional Amount			6,400,000
Interest Rate Swap Agreement | Other Loss | Net of Taxes
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Reclassified from accumulated other comprehensive loss into consolidated statements of operations			1,700,000
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			$ 14,100,000
TRA, measurement input				0.0158		0.0134
Alternative Investment, Valuation Technique [Extensible List]			us-gaap:ValuationTechniqueDiscountedCashFlowMember
Alternative Investment, Measurement Input [Extensible List]			us-gaap:MeasurementInputDiscountRateMember
Minimum
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Contingent consideration liability, measurement input			3.4
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			3.5
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			3.4
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 ($)	6 Months Ended		12 Months Ended
	Dec. 31, 2019	Jul. 10, 2019	Dec. 31, 2021	Dec. 31, 2020
Contingent Consideration
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Balance at beginning of period		$ 1,816,988	$ 15,800,000	$ 14,250,000
Measurement period adjustment				6,580,549
Purchases	$ 14,250,000		4,350,000	15,800,000
Payments		$ (1,816,988)	(8,948,786)	(18,320,549)
Valuation adjustment			5,845,626	(2,510,000)
Balance at end of period	14,250,000		17,046,840	15,800,000
Tax Receivable Agreement
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Balance at beginning of period			229,228,105	67,176,226
Purchases	67,176,226		2,491,251	149,612,393
Accretion expense			5,065,507	2,955,148
Valuation adjustment			9,043,556	9,484,338
Balance at end of period	$ 67,176,226		$ 245,828,419	$ 229,228,105

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Property Plant And Equipment [Line Items]
Property,plant and equipment, gross	$ 6,602,610	$ 3,186,707
Less: Accumulated depreciation and amortization	2,801,411	1,558,268
Property, plant and equipment, net	3,801,199	1,628,439
Furniture, Fixtures, and Office Equipment
Property Plant And Equipment [Line Items]
Property,plant and equipment, gross	2,763,380	1,112,702
Computers
Property Plant And Equipment [Line Items]
Property,plant and equipment, gross	3,408,336	1,733,672
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property,plant and equipment, gross	$ 430,894	$ 340,333

Property and Equipment - Additi

Property and Equipment - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Dec. 31, 2019	Jul. 10, 2019	Dec. 31, 2021	Dec. 31, 2020
Property Plant And Equipment [Abstract]
Depreciation expense	$ 0.4	$ 0.2	$ 1.3	$ 1.2

Intangible Assets - Additional

Intangible Assets - Additional Information (Details) $ in Millions	6 Months Ended		12 Months Ended
	Dec. 31, 2019USD ($)	Jul. 10, 2019USD ($)	Dec. 31, 2021USD ($)TradeName	Dec. 31, 2020USD ($)TradeName
Goodwill And Intangible Assets Disclosure [Abstract]
Number of trade names | TradeName			5	6
Amortization of Intangible Assets | $	$ 23.3	$ 5.9	$ 88.4	$ 59.7

Intangible Assets - Schedule of

Intangible Assets - Schedule of Intangible Assets (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Finite Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 749,077,560	$ 452,215,101
Accumulated Amortization	171,383,658	82,987,963
Net Carrying Value	$ 577,693,902	$ 369,227,138
Weighted Average Useful Life (Years)	6 years 9 months 14 days	6 years 11 months 8 days
Client Relationships
Finite Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 539,850,000	$ 308,450,000
Accumulated Amortization	83,014,231	39,920,578
Net Carrying Value	$ 456,835,769	$ 268,529,422
Weighted Average Useful Life (Years)	8 years 4 months 24 days	8 years 7 months 20 days
Channel Relationships
Finite Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 12,550,000	$ 12,550,000
Accumulated Amortization	1,146,935	191,936
Net Carrying Value	$ 11,403,065	$ 12,358,064
Weighted Average Useful Life (Years)	8 years 7 months 24 days	9 years 7 months 24 days
Software Costs
Finite Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 163,957,560	$ 104,715,101
Accumulated Amortization	83,162,612	40,280,116
Net Carrying Value	$ 80,794,948	$ 64,434,985
Weighted Average Useful Life (Years)	1 year 5 months 23 days	1 year 10 months 6 days
Non-Complete Agreements
Finite Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 4,580,000	$ 4,270,000
Accumulated Amortization	4,059,880	2,595,333
Net Carrying Value	$ 520,120	$ 1,674,667
Weighted Average Useful Life (Years)	10 months 17 days	1 year 6 months 7 days
Trade Names
Finite Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 28,140,000	$ 22,230,000
Net Carrying Value	$ 28,140,000	$ 22,230,000

Intangible Assets - Schedule _2

Intangible Assets - Schedule of Estimated Amortization Expense (Details)	Dec. 31, 2021USD ($)
Estimated Future Amortization Expense
2022	$ 99,941,015
2023	81,630,840
2024	67,608,133
2025	55,288,759
2026	55,571,944
Thereafter	$ 189,513,211

Goodwill - Schedule of Changes

Goodwill - Schedule of Changes to Goodwill (Details) - USD ($)	6 Months Ended		12 Months Ended
	Dec. 31, 2019	Jul. 10, 2019	Dec. 31, 2021	Dec. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Beginning balance	$ 339,911,400	$ 119,529,202	$ 458,970,255	$ 389,660,519
Acquisitions	49,749,119	0	366,622,156	62,263,733
Dispositions	0	0	0	0
Impairment Loss	0	0	0	0
Measurement period adjustment			(10,779)	7,046,003
Other			(1,500,000)
Ending balance	$ 389,660,519	$ 119,529,202	$ 824,081,632	$ 458,970,255

Goodwill - Additional Informati

Goodwill - Additional Information (Details)	6 Months Ended		12 Months Ended
	Dec. 31, 2019USD ($)	Jul. 10, 2019USD ($)	Dec. 31, 2021USD ($)Segment	Dec. 31, 2020USD ($)
Goodwill [Line Items]
Measurement period adjustment			$ (10,779)	$ 7,046,003
Number of operating segment | Segment			1
Goodwill impairment loss	$ 0	$ 0	$ 0	0
Accumulated impairment losses			$ 0	0
APS
Goodwill [Line Items]
Measurement period adjustment				7,000,000
Valuation adjustment on contingent consideration				$ 6,600,000

Borrowings - Additional Informa

Borrowings - Additional Information (Details)

Jan. 19, 2021USD ($)$ / shares

Dec. 31, 2019USD ($)

Jul. 10, 2019USD ($)

Dec. 31, 2021USD ($)

Dec. 31, 2020USD ($)

Dec. 31, 2018USD ($)

Dec. 31, 2017USD ($)

Dec. 29, 2021USD ($)

Dec. 28, 2021USD ($)

Feb. 03, 2021USD ($)

Feb. 02, 2021USD ($)

Jan. 01, 2021USD ($)

Feb. 10, 2020USD ($)

Feb. 09, 2020USD ($)

Jul. 11, 2019USD ($)

Term Loan

Debt Instrument [Line Items]

Line of credit Interest expense

$ 5,300,000

$ 2,800,000

$ 11,500,000

$ 5,500,000

$ 4,400,000

2026 Notes

Debt Instrument [Line Items]

Aggregate principal amount

$ 440,000,000

2026 Notes | Notes Offering

Debt Instrument [Line Items]

Aggregate principal amount

$ 440,000,000

Debt instrument interest rate

0.00%

Debt instrument, maturity date

Feb. 1, 2026

2026 Notes | Notes Offering | Class A Common Stock

Debt Instrument [Line Items]

Debt instrument, convertible notes, conversion rate

29.7619

Debt instrument, convertible notes, conversion price per share | $ / shares

$ 33.60

Successor Credit Agreement

Debt Instrument [Line Items]

Line of credit maximum borrowing capacity

$ 346,000,000

$ 230,000,000

Successor Credit Agreement | Revolving Credit And Term Loan

Debt Instrument [Line Items]

Line of credit maximum borrowing capacity

$ 20,000,000

Variable interest rate

3.65%

Successor Credit Agreement | Term Loan

Debt Instrument [Line Items]

Line of credit maximum borrowing capacity

256,000,000

Successor 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

Successor Credit Agreement | Senior Secured Revolving Credit Facility

Debt Instrument [Line Items]

Undrawn line of credit

$ 30,000,000

New Credit Agreement

Debt Instrument [Line Items]

Line of credit Interest expense

$ 100,000

0

100,000

Line of credit

$ 20,000,000

Debt instrument, basis spread on variable rate

2.25%

Debt instrument, description of variable rate basis

1-month LIBOR

Line of credit unused commitments fee

$ 400,000

200,000

New Credit Agreement | Senior Secured Revolving Credit Facility

Debt Instrument [Line Items]

Line of credit maximum borrowing capacity

$ 185,000,000

$ 60,000,000

New Credit Agreement | Senior Secured Revolving Credit Facility | Truist Bank

Debt Instrument [Line Items]

Undrawn line of credit

$ 125,000,000

Revolving Loan

Debt Instrument [Line Items]

Variable interest rate

2.35%

Revolving Loan | Predecessor Credit Agreement

Debt Instrument [Line Items]

Line of credit

3,500,000

Line of credit maximum borrowing capacity

$ 10,000,000

Line of credit Interest expense

$ 100,000

$ 200,000

Revolving Loan | Successor Credit Agreement

Debt Instrument [Line Items]

Line of credit maximum borrowing capacity

$ 30,000,000

Line of credit

$ 0

Borrowings - Summary of Borrowi

Borrowings - Summary of Borrowings under Credit Agreement (Details) - USD ($)		Dec. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Total borrowings under credit facility		$ 460,000,000		$ 262,653,996
Less: Current maturities of long-term debt	[1]			6,760,650
Less: Long-term loan debt issuance cost		11,515,304		5,940,600
Total non-current borrowings		448,484,696		249,952,746
Convertible Senior Debt
Debt Instrument [Line Items]
Total borrowings under credit facility		440,000,000
Less: Long-term loan debt issuance cost			$ 11,400,000
Term Loan
Debt Instrument [Line Items]
Total borrowings under credit facility	[2]			$ 262,653,996
Revolving Credit Facility
Debt Instrument [Line Items]
Total borrowings under credit facility	[3]	$ 20,000,000
[1]	Pursuant to the terms of the Amended Credit Agreement, the Company was 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”).
[2]	The Term Loan bears interest at a variable rate, which was 3.65 % as of December 31, 2020.
[3]	The Revolving Credit Facility bears interest at a variable rate, which was 2.35% as of December 31, 2021.

Borrowings - Summary of Borro_2

Borrowings - Summary of Borrowings under Credit Agreement (Parenthetical) (Details) - USD ($)	6 Months Ended		12 Months Ended
	Dec. 31, 2019	Jul. 10, 2019	Dec. 31, 2021	Dec. 31, 2020
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	$ 570,671	$ 215,658	$ 2,536,075	$ 1,416,012
Interest Expense
Debt Instrument [Line Items]
Interest expense for the amortization of deferred debt issuance costs	$ 600,000	$ 200,000	$ 2,500,000	$ 1,400,000
Revolving Credit Facility
Debt Instrument [Line Items]
Variable interest rate			2.35%
Term Loan
Debt Instrument [Line Items]
Variable interest rate				3.65%

Borrowings - Summary of Princip

Borrowings - Summary of Principal Maturities of Term Loans Outstanding (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
2026	$ 460,000,000
Total borrowings under credit facility	$ 460,000,000	$ 262,653,996

Derivative Instruments - Additi

Derivative Instruments - Additional Information (Details) - USD ($)	Feb. 21, 2020	Oct. 31, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Sep. 30, 2020	Feb. 29, 2020
Interest Rate Swap Agreement
Derivative Instruments Gain Loss [Line Items]
Notional amount		$ 140,000,000				$ 65,000,000	$ 30,000,000
Variable-rate term loan		$ 140,000,000	$ 205,000,000
Term of agreement		5 years
Interest Rate Swap Agreement | Interest Expense | Pre-tax Gain (Loss)
Derivative Instruments Gain Loss [Line Items]
Reclassified from accumulated other comprehensive income (loss)				$ 1,400,000	$ (100,000)
Interest Rate Swap Agreement | Other Loss
Derivative Instruments Gain Loss [Line Items]
Derivative, Notional Amount			6,400,000
Interest Rate Swap Agreement | Other Loss | Net of Taxes
Derivative Instruments Gain Loss [Line Items]
Reclassified from accumulated other comprehensive income (loss)			1,700,000
Interest Rate Swap at 1.331% | Regions Bank
Derivative Instruments Gain Loss [Line Items]
Notional amount	$ 30,000,000					65,000,000
Swap transaction inception date	Mar. 31, 2020
Swap transaction termination date	Feb. 10, 2025
Interest Rate Swap at 1.331% | Regions Bank | LIBOR
Derivative Instruments Gain Loss [Line Items]
Notional amount	$ 30,000,000					$ 65,000,000
Interest Rate Swap at 1.331% | Other Loss | Regions Bank
Derivative Instruments Gain Loss [Line Items]
Derivative, Notional Amount			6,400,000
Interest Rate Swap at 1.331% | Other Loss | Net of Taxes | Regions Bank
Derivative Instruments Gain Loss [Line Items]
Reclassified from accumulated other comprehensive income (loss)			$ 1,700,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details)	12 Months Ended
	Dec. 31, 2021
Lease [Line Items]
Operating lease expiration year	2029
Lessee, operating lease, existence of option to extend [true false]	true
Operating lease, option to extend	Most of these leases include one or more renewal options for six years or less
Operating lease, existence of option to terminate [true false]	true
Operating lease, option to terminate	certain leases also include lessee termination options
Minimum
Lease [Line Items]
Operating lease, term of contract	3 years
Maximum
Lease [Line Items]
Operating lease, term of contract	10 years
Operating lease, renewal term	6 years

Commitments and Contingencies_2

Commitments and Contingencies - Summary of Components of Lease Cost (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Components of total lease costs:
Operating lease cost	$ 2,370,643	$ 1,745,575
Short-term lease cost	100,607	48,150
Total lease cost	$ 2,471,250	$ 1,793,725

Commitments and Contingencies_3

Commitments and Contingencies - Schedule of Operating Lease and Supplemental Information (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Operating Leases:
Right-of-use assets	$ 10,499,751	$ 10,074,506
Lease liability, current	1,990,416	1,527,224
Lease liability, long-term	9,090,867	8,836,655
Total lease liabilities	$ 11,081,283	$ 10,363,879
Weighted-average remaining lease term (in years)	5 years 2 months 12 days	6 years 2 months 12 days
Weighted-average discount rate (annualized)	4.30%	4.60%

Commitments and Contingencies_4

Commitments and Contingencies - Other Information Related to Leases (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 2,168,767	$ 1,504,352
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$ 2,438,075	$ 11,430,120

Commitments and Contingencies_5

Commitments and Contingencies - Schedule of Maturity Analysis of the Company's Operating Leases Liabilities (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
2022	$ 2,423,447
2023	2,481,751
2024	2,303,054
2025	2,124,094
2026	1,835,155
Thereafter	1,260,395
Total undiscounted lease payments	12,427,896
Less: Imputed interest	1,346,613
Total lease liabilities	$ 11,081,283	$ 10,363,879

Schedule of Related Party Payab

Schedule of Related Party Payables (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Related party payables	$ 17,394,125	$ 15,811,597
Ventanex
Related Party Transaction [Line Items]
Related party payables	12,746,840	4,800,000
cPayPlus
Related Party Transaction [Line Items]
Related party payables		6,500,000
CPS
Related Party Transaction [Line Items]
Related party payables	600,000	4,500,000
Kontrol
Related Party Transaction [Line Items]
Related party payables	850,000
Payix
Related Party Transaction [Line Items]
Related party payables	2,850,000
Other Payables to Related Parties
Related Party Transaction [Line Items]
Related party payables	$ 347,285	$ 11,597

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Dec. 31, 2019	Jul. 10, 2019	Dec. 31, 2021	Dec. 31, 2020
Related Party Transaction [Line Items]
Transaction costs incurred on behalf of related parties	$ 1.3	$ 6.8	$ 8.2	$ 3.1
Receivables from related parties			0.3	0.1
Related party owed to employees			0	0
Ventanex CPS BillingTree Kontrol and Payix
Related Party Transaction [Line Items]
Contingent consideration payable to related parties			$ 17.4	$ 15.8

Share Based Compensation - Addi

Share Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended		12 Months Ended
	Dec. 31, 2019	Jul. 10, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation expense related to unvested RSAs, RSUs and PSUs	$ 17.5		$ 22.7	$ 23.7	$ 17.5
Weighted-average period related to unvested RSAs, RSUs and PSUs			2 years 5 months 12 days	2 years 7 months 9 days	2 years 3 months 3 days
Share-based compensation expense	$ 22		$ 22.3	$ 19.4
Vested, Units		9,460	9,171
Weighted average grant date fair value		$ 182.83	$ 180.87
Selling, General and Administrative Expenses
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense		$ 0.9
Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for issuance			7,326,728

Share Based Compensation - Sche

Share Based Compensation - Schedule of Share Based Compensation Expense and Related Income Tax Benefit (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-based compensation expense	$ 22	$ 22.3	$ 19.4
Income tax benefit	$ 1.1	$ 3.4	$ 0.5

Share Based Compensation - Sc_2

Share Based Compensation - Schedule of Outstanding Restricted Stock Awards, Restricted Stock Units and Performance Stock Units Activity (Details) - Restricted Stock Awards (RSAs), Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) - $ / shares		6 Months Ended	12 Months Ended
		Dec. 31, 2019	Dec. 31, 2021		Dec. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average grant date fair value, Beginning Balance			$ 15.71		$ 12.39
Weighted average grant date fair value, Granted		$ 12.07	22.68		18.40
Weighted average grant date fair value, Forfeited	[1]	11.81	16.46		13.40
Weighted average grant date fair value, Vested		11.68	15.63		12.10
Weighted average grant date fair value, Ending Balance		$ 12.39	$ 18.30		$ 15.71
Class A Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested, Beginning Balance			2,523,431		1,818,675
Granted		3,275,229	994,287		1,389,063
Forfeited	[1]	321,263	418,330	[2]	80,794	[2]
Vested		1,135,291	583,754		603,513
Unvested, Ending Balance		1,818,675	2,515,634		2,523,431
[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 Incentive Plan.
[2]	The forfeited shares include employee terminations during the years ended December 31, 2021 and 2020; further, these forfeited shares are added back to the amount of shares available for grant under the Incentive Plan.

Share Based Compensation - Summ

Share Based Compensation - Summary of Changes in Non-Vested Units Outstanding (Details) - $ / shares	6 Months Ended	12 Months Ended
	Jul. 10, 2019	Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Non-vested units, Beginning Balance	9,460
Vested, Units	(9,460)	(9,171)
Weighted average fair value per unit, Beginning Balance	$ 182.83
Weighted average fair value per unit, Vested	$ (182.83)	$ (180.87)

Taxation - Schedule of Loss Bef

Taxation - Schedule of Loss Before Income Taxes (Details) - USD ($)	6 Months Ended		12 Months Ended
	Dec. 31, 2019	Jul. 10, 2019	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Domestic	$ (51,540,441)	$ (23,668,078)	$ (87,352,396)	$ (129,267,523)
Foreign	(269,721)	(74,452)	624,677	(456,747)
Loss before income tax benefit	$ (51,810,162)	$ (23,742,530)	$ (86,727,719)	$ (129,724,270)

Taxation - Schedule of Provisio

Taxation - Schedule of Provision for Income Tax (Details) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2020
Current expense
Federal		$ 34,401
State		2,367
Total current expense		36,768
Deferred expense
Federal	$ (4,343,013)	(18,113,316)	$ (10,523,778)
State	(575,152)	(12,799,753)	(1,708,969)
Foreign	(72,824)	185,145	(125,278)
Total deferred benefit	(4,990,989)	(30,727,924)	(12,358,025)
Income tax benefit	$ (4,990,989)	$ (30,691,156)	$ (12,358,025)

Taxation - Schedule of Reconcil

Taxation - Schedule of Reconciliation of United States Statutory Income Tax Rate to Effective Income Tax Rate (Details)	6 Months Ended		12 Months Ended
	Dec. 31, 2019	Jul. 10, 2019	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Federal income tax expense	21.00%	0.00%	21.00%	21.00%
State taxes, net of federal benefit	1.10%	0.00%	5.20%	1.30%
Income attributable to noncontrolling interest	(6.10%)	0.00%	(1.40%)	(1.80%)
Excess tax benefit related to share-based compensation	0.40%	(0.00%)	0.60%	0.40%
Change in fair value of warrant liabilities	(6.20%)	0.00%	0.00%	(11.50%)
State rate change impact on deferred taxes	0.00%	0.00%	9.50%	0.00%
Other, net	(0.60%)	0.00%	0.50%	0.10%
Total deferred benefit	9.60%	0.00%	35.40%	9.50%

Taxation - Additional Informati

Taxation - Additional Information (Details) - USD ($)	Jul. 11, 2019	Dec. 31, 2019	Jul. 10, 2019	Dec. 31, 2021	Dec. 31, 2020
Taxation [Line Items]
Effective tax rate		9.60%	0.00%	35.40%	9.50%
U.S. statutory tax rate		21.00%		21.00%	21.00%
Reduction of deferred tax asset (DTA) and offsetting deferred tax liability (DTL) amount				$ 19,200,000
Deferred tax asset and offsetting deferred tax liability		$ 27,500,000		$ 145,259,883	$ 135,337,229
Valuation allowance recognized, percentage				100.00%
Net operating loss carryforwards with finite life				$ 4,400,000
Net operating loss carryforwards expiration year				2030
Federal net operating loss carryforwards expiration year				2037
State net operating loss carryforwards expiration year				2034
Valuation allowance recorded				$ 0
Uncertain tax positions				0
Percentage of tax benefits payable under Tax Receivable Agreement	100.00%
Liability related to projected obligations under Tax Receivable Agreement				$ 245,800,000
Hawk Parent Holdings LLC
Taxation [Line Items]
Exchange of Post-Merger Repay Units Shares				407,584
Federal and State
Taxation [Line Items]
Net operating loss carryforwards				$ 30,200,000
Operating loss carryforwards with indefinite life				25,800,000
Federal
Taxation [Line Items]
Net operating loss carryforwards				1,100,000
State
Taxation [Line Items]
Net operating loss carryforwards				$ 400,000

Taxation - Schedule of Deferred

Taxation - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets
Tax Credits	$ 1,547,569	$ 522,081
Section 163(j) Limitation Carryover	26,800	250,095
Acquisition Costs	348,158	352,291
Federal Net Operating Losses	25,283,737	8,834,924
State Net Operating Losses	4,907,835	1,264,059
Foreign Net Operating Losses	16,556	202,517
Other Assets	6,794,593	2,997,426
Partnership basis tax differences	130,440,236	154,253,345
Total deferred tax asset	169,365,484	168,676,738
Valuation allowance	(16,393,745)	(33,339,509)
Total deferred tax asset, net of valuation allowance	152,971,739	135,337,229
Deferred tax liabilities
Total deferred tax liabilities	(7,711,856)
Net deferred tax assets	145,259,883	$ 135,337,229	$ 27,500,000
Payix
Deferred tax liabilities
Other Intangibles - Payix	$ (7,711,856)