Paymentus Holdings, Inc.(PAY)Stock Analysis
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Rank #327 of 2,879 stocksTOP 25%
Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Aug 14, 2026.
Revenue Growth
Profitability
Balance Sheet
Earnings Quality
Free Cash Flow
Institutional Flow
Revenue Scale
Dilution Risk
PAY Stock Analysis & AI Quality Score
AI stock analysis and institutional research for Paymentus Holdings, Inc. (PAY), a Industrials sector company. 13F Pro's AI-powered ranking engine scores PAY at 70.2/100 on a 32-signal composite quality model, placing it at rank #327 of 2,879 stocks — the top 25% of the AI-ranked universe. PAY scores in the top quartile across earnings quality (90.9), revenue growth (90.0), balance sheet strength (86.5). Shareholder dilution risk is elevated at 46.1/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q1 2026), Paymentus Holdings, Inc. reports quarterly revenue of $358.4M, net income of $20.9M, an operating margin of 7.4%. Top institutional holders of PAY by reported 13-F value include WASATCH ADVISORS, Capital International Investors, Capital World Investors, based on the most recent SEC filings. PAY trades on the NYSE exchange and files with the SEC under CIK 1841156. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate PAY daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Paymentus Holdings, Inc. directly from SEC EDGAR. Paymentus Holdings, Inc.'s 13F Pro composite quality score has ranged between 8 and 83 since 2022, currently 70.2 — an improving long-term trajectory across 52 quarterly and live scoring snapshots.
What's Driving PAY's Business? Latest 10-Q Breakdown
AI-extracted from Paymentus Holdings, Inc.'s 10-Q filed 2026-05-05 — Q1 2026 (quarter ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Paymentus revenue grew 30.2% YoY to $358.4M in Q1 2026, driven by 17.4% growth in transactions processed, while net income surged 51.2% to $20.9M on operating leverage.
Biggest Revenue Drivers
Total revenue: $358.4M+30.2% YoY
Driven by increase in number of transactions processed from implementation of new billers and increased transactions from existing billers and financial institutions.
Largest Expense Items
Consists primarily of interchange fees and processor costs, increasing with higher transaction volumes.
Driven by higher reseller commissions and employee-related costs including benefits and compensation adjustments.
Increased due to higher employee-related costs from headcount growth, cloud computing services, and amortization of capitalized software development costs.
Driven by higher stock-based compensation, elevated employee compensation, and greater professional and legal fees and insurance premiums.
Margins: Gross margin remained flat at 24.1% despite 30.2% revenue growth, as shift in customer mix toward high-volume enterprise billers with lower margins was offset by improved economies of scale. Operating leverage improved significantly, with income from operations up 69.2% YoY.
Watch Items from the Filing
- One reseller accounted for more than 10% of accounts receivable as of March 31, 2026, indicating customer concentration risk in collections.
- Inflationary conditions and elevated macroeconomic uncertainty could impact consumer payment behavior, shift to lower-cost payment methods, increase deferrals, and alter transaction mix, potentially offsetting volume gains through higher interchange costs.
- Company capitalized $9.5M of internal-use software development costs in Q1 2026 with $77.6M of unrecognized stock-based compensation cost remaining, representing significant future cash outflows.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Revenue
Q1 2026
$358.4M
Net Income
Q1 2026
$20.9M
Free Cash Flow
Q1 2026
$30.4M
Operating Margin
Q1 2026
7.4%
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · Pro+Revenue
+37.3% YoYNet Income
+51.4% YoYOperating Income
+68.4% YoYEPS (Diluted)
+48.6% YoYTotal Assets
+15.9% YoYOp. Cash Flow
+154.8% YoY| Metric | FY 2025 | FY 2024 | FY 2022 | FY 2021 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|
| Revenue | $1.20B +37.3% | $871.7M +75.4% | $497.0M +25.7% | $395.5M +67.8% | $235.8M | — |
| Net Income | $66.9M +51.4% | $44.2M +8716.0% | $-513.0K -105.5% | $9.3M -32.1% | $13.7M | — |
| Operating Income | $75.5M +68.4% | $44.9M +1607.3% | $-3.0M -128.7% | $10.4M -43.5% | $18.4M | — |
| EPS (Diluted) | $0.52 +48.6% | $0.35 | $0.00 -100.0% | $0.06 +275.0% | $0.02 | — |
| Total Assets | $667.9M +15.9% | $576.2M +24.9% | $461.5M -2.4% | $472.9M | — | — |
| Operating Cash Flow | $162.1M +154.8% | $63.6M +220.3% | $19.9M +1.9% | $19.5M +11.3% | $17.5M | — |
AI Insight: PAY Financial Trends
Revenue accelerated to 30% year-over-year growth in Q1 2026 while operating leverage drove margin expansion from 5.1% to 7.5%.
• Revenue growth accelerated from 17.8% year-over-year in Q2 2025 to 30.2% in Q1 2026.
• Operating margin expanded from 5.1% in Q2 2024 to 7.5% in Q1 2026.
• Operating cash flow surged from $18M in Q2 2024 to $50M in Q1 2025 before moderating.
• Equity grew consistently from $452M in Q2 2024 to $583M in Q1 2026.
⚠ Operating cash flow declined from $50M in Q1 2025 to $30M in Q1 2026 despite higher earnings.
⚠ Sequential revenue growth decelerated from 15.0% in Q1 2026 to estimated lower rate in recent quarter.
AI Insight: PAY Ratio Trends
Paymentus delivered steady margin expansion with operating margin rising from 5.2% in Q2 2024 to 7.4% in Q1 2026.
• Operating margin expanded from 5.2% in Q2 2024 to 7.4% in Q1 2026, showing consistent improvement.
• ROIC surged from 9.1% in Q2 2024 to 18.2% in Q1 2026, indicating strong capital efficiency gains.
• ROE nearly doubled from 8.3% in Q2 2024 to 14.3% in Q1 2026, reflecting improving profitability.
⚠ Net profit margin declined from 6.3% in Q4 2025 to 5.8% in Q1 2026 despite operating margin gains.
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Top Institutional Holders of PAY
WASATCH ADVISORS LP
$200.6M7,896,896 shCapital International Investors
$174.6M6,874,791 shCapital World Investors
$107.0M4,214,343 shVANGUARD CAPITAL MANAGEMENT LLC
$61.8M2,434,592 shFRANKLIN RESOURCES INC
$60.1M2,365,011 shBROWN BROTHERS HARRIMAN & CO
$54.7M2,151,588 shVANGUARD PORTFOLIO MANAGEMENT LLC
$53.8M2,119,189 shFULLER & THALER ASSET MANAGEMENT, INC.
$49.6M1,951,792 shNEXT CENTURY GROWTH INVESTORS LLC
$29.4M1,158,353 shBlackRock, Inc.
$26.1M1,025,748 sh
| Fund | Value | Shares |
|---|---|---|
| WASATCH ADVISORS LP | $200.6M | 7,896,896 |
| Capital International Investors | $174.6M | 6,874,791 |
| Capital World Investors | $107.0M | 4,214,343 |
| VANGUARD CAPITAL MANAGEMENT LLC | $61.8M | 2,434,592 |
| FRANKLIN RESOURCES INC | $60.1M | 2,365,011 |
| BROWN BROTHERS HARRIMAN & CO | $54.7M | 2,151,588 |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $53.8M | 2,119,189 |
| FULLER & THALER ASSET MANAGEMENT, INC. | $49.6M | 1,951,792 |
| NEXT CENTURY GROWTH INVESTORS LLC | $29.4M | 1,158,353 |
| BlackRock, Inc. | $26.1M | 1,025,748 |
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Is PAY a good stock to buy?
13F Pro's AI-powered analysis of Paymentus Holdings, Inc. (PAY) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Industrials sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for PAY are available on the PAY stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.
Which hedge funds own PAY?
Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling PAY. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Paymentus Holdings, Inc.'s investment landscape.