Related Party Transactions

6 Months Ended

Jun. 30, 2023

Related Party Transactions [Abstract]

Related Party Transactions

11. Related Party Transactions

Related party payables consisted of the following:

($ in thousands)	June 30, 2023		December 31, 2022
CPS accrued earnout liability	$	—	$	1,000
Other payables to related parties		—		—
	$	—	$	1,000

The Company held receivables from related parties of $0.3 million as of both June 30, 2023 and December 31, 2022. These amounts were due from employees, related to tax withholding on vesting of equity compensation. See Note 12. Share Based Compensation for more detail on these restricted share awards. Further, the Company owed employees $0.0 million for amounts paid on behalf of the Company as of both June 30, 2023 and December 31, 2022.

The Company owed $0 and $1.0 million to related parties, in the form of contingent consideration payable to the sellers of CPS, who were employees of Repay, as of June 30, 2023 and December 31, 2022, respectively. In March 2023, the Company paid the CPS earnout payment of $1.0 million.