Priority Technology Holdings, Inc. - PRTH STOCK NEWS

Priority Technology Holdings, Inc. (NASDAQ: PRTH) has announced a strategic partnership with IQ BackOffice to enhance accounts payable capabilities through the integration of Priority's CPX solution. This collaboration aims to streamline accounting processes and automate payments via multiple modalities like check, ACH, and virtual card, promising efficiency and up to 70% cost reduction for clients. The integration is expected to digitalize financial processes, lowering risks and enhancing returns on investment. As a leader in embedded finance, Priority supports companies in improving cash flow and operational efficiency.

Priority Technology Holdings has announced partnerships with Factor4 and GiftYa to enhance their gift card offerings. Through the collaboration with Factor4, Priority customers gain access to omnichannel gift card and loyalty solutions, facilitating seamless transactions across various platforms. Factor4 aims to boost merchants' revenue while providing full support. GiftYa's platform allows personalized e-gifting for over 250,000 merchants nationwide, offering innovative card-linked gifting solutions. This strategic move positions Priority to meet growing demands in the gift card sector, ultimately helping merchants retain customers and increase profitability.

Priority Technology Holdings, Inc. (NASDAQ: PRTH) has appointed Marc Crisafulli as a Director, bringing over 30 years of legal and regulatory experience. Crisafulli previously held senior positions at Bally’s Corporation, Brightstar Corporation, and Suffolk Construction Company. His expertise is expected to enhance Priority's growth in new enterprise payment verticals. Crisafulli holds a bachelor's degree from Boston University and a juris doctorate from Georgetown University, and he will participate on various board committees.

Priority Technology Holdings, Inc. (NASDAQ: PRTH) reported strong third quarter 2022 results, with revenue of $166.4 million, a 25.6% increase from $132.5 million in Q3 2021. Gross profit rose 47.4% to $58.5 million, achieving a gross profit margin of 35.1%. Operating income surged 69.9% to $14.1 million, and adjusted EBITDA was $35.1 million, an increase of 48.7%.

The company reaffirmed its 2022 revenue guidance of $650 million to $665 million while revising adjusted EBITDA guidance to $140 million to $145 million.

Priority Technology Holdings, Inc. (NASDAQ: PRTH) will release its third quarter 2022 financial results before the market opens on November 10, 2022. The Company will hold a conference call at 11:00 a.m. Eastern Time to discuss its financial and operating results, followed by a Q&A session. An audio replay will be available until November 17, 2022. Priority is known for its unified commerce platform, providing integrated payments and banking solutions. More details are accessible on the Company's website.

Priority Technology Holdings, Inc. (NASDAQ: PRTH) has appointed Tim O’Leary as its new Chief Financial Officer, succeeding Mike Vollkommer who retires on September 16. O’Leary brings over 20 years of experience in capital markets focused on technology firms, previously serving at Truist Securities. The CEO, Thomas C. Priore, expressed confidence in O’Leary’s expertise to support the company’s growth strategies. Priority is recognized for its payments technology solutions and aims to enhance its unified commerce offerings.

Priority Technology Holdings, Inc. (NASDAQ: PRTH) reported strong financial results for Q2 2022, with revenue of $166.4 million, up 33.1% from $125.0 million in Q2 2021. Gross profit increased 58.2% to $55.7 million, with a gross profit margin of 33.5%. Operating income rose 77.0% to $13.1 million, and Adjusted EBITDA was $33.9 million, a 61.4% increase. The company reaffirmed its 2022 guidance, projecting revenue between $650 million and $665 million, marking expected growth of 26% to 29%.

Priority Technology Holdings, Inc. (NASDAQ: PRTH) announced the release of its second quarter 2022 financial results on August 9, 2022, prior to market opening. The company will host a conference call at 11:00 a.m. ET to discuss these results, followed by a Q&A session. An audio replay of the call will be available until August 16, 2022. Priority aims to provide innovative payment solutions, driving the convergence of payments and banking through its robust technology platform.

Priority Technology Holdings (NASDAQ: PRTH) has announced the promotion of Ranjana Ram to Chief Operating Officer. Previously the Executive Vice President of Corporate Development, Ram has been instrumental in leading transaction activities since the company's inception, including its 2018 public offering. With over 18 years of experience in banking and payments, her role will involve company-wide leadership and strategic implementation. Tom Priore, CEO, highlighted her operational excellence and strategic focus as key factors in her promotion.