Welcome to our dedicated page for Priority Technology Holdings news (Ticker: PRTH), a resource for investors and traders seeking the latest updates and insights on Priority Technology Holdings stock.
Priority Technology Holdings, Inc. (NASDAQ: PRTH) is a prominent provider of merchant acquiring and commercial payment solutions in the United States. The company operates through three main segments: Consumer Payments, Commercial Payments, and Integrated Partners. These segments work in unison to offer a comprehensive suite of services tailored to meet the diverse needs of small and medium-sized businesses (SMBs) as well as large enterprises.
The company's flagship offerings include the MX Product Suite and CPX Platform. The MX Product Suite encompasses solutions such as MX ISO/Agent and Vimas Reseller Technology Systems, along with MX Merchant Products. These tools provide resellers and merchant clients with customizable business applications that enhance operational efficiency and revenue performance management.
In the commercial payments arena, Priority Technology Holdings offers the CPX Platform, a turnkey solution designed to streamline the accounts payable (AP) process. The platform includes CPX Access, CPX Gateway, CPX Commercial Acceptance, and CPX Payments Solutions, all of which aim to automate vendor payments and improve financial rebates for businesses.
Additionally, the company provides a range of managed services and integrated automated payment solutions to financial institutions and card networks. These services are complemented by payment-adjacent technologies that facilitate transaction processing and financial management.
Priority Technology Holdings is noted for its innovative approach to payment solutions, leveraging its proprietary software platform to deliver full-service acquiring and payment solutions for B2C transactions through its SMB Payments segment. The company also offers AP automation solutions via its B2B Payments segment, catering to corporations, software partners, and industry financial institutions (FIs). The Enterprise Payments segment focuses on embedded payment and treasury solutions that help modernize legacy platforms and support software partners' strategies to monetize payments.
The company continues to advance its offerings to meet the evolving needs of the market, positioning itself as a leader in the payment solutions industry.
Priority Technology Holdings (NASDAQ: PRTH) will release its fourth quarter and full-year 2021 financial results before markets open on March 17, 2022. The Company will host a conference call and webcast at 11:00 a.m. ET to discuss these results, followed by a Q&A session. An audio replay will be available until March 24, 2022. Priority Technology specializes in payments technology, offering solutions for customers to manage and monetize payment networks effectively.
Priority Technology Holdings, Inc. (NASDAQ: PRTH) has secured a group purchasing agreement with Premier, Inc. effective January 15, 2022. This agreement allows Premier’s members to access pre-negotiated pricing and terms for purchasing cards and electronic payables, enhancing payment solutions for healthcare providers.
Priority’s CPX solution streamlines accounts payable processes, improving transaction efficiency. This strategic partnership aims to support over 4,400 U.S. hospitals and 225,000 other healthcare providers in achieving better financial outcomes.
Priority Technology Holdings (NASDAQ: PRTH) has announced its integration with Mastercard Track™ Business Payment Service to enhance its B2B payment solutions. This partnership aims to automate payments-related data exchange, boosting efficiency for buyers and suppliers. With this integration, virtual cards will operate like a direct deposit, providing standardization and automation in remittance. The collaboration is poised to simplify the payment process, cutting costs and risks while delivering innovative solutions to the market.
Priority Technology Holdings (NASDAQ: PRTH) has launched a strategic partnership with Procurement Partners, integrating its Priority Commercial Payments Xchange (CPX) into Procurement’s eProcurement platform. This integration aims to enhance accounts payable processes for over 100 healthcare organizations and 200 vendors, impacting nearly 2,000 healthcare facilities nationally. By automating payment solutions, it's expected to save clients up to 40% in time and 10% in annual spending, while improving cash flow management and supplier relationships, according to Procurement's COO, Deb Woods.
Priority Technology Holdings (NASDAQ: PRTH) and The Brink's Company (NYSE: BCO) have partnered to integrate Priority's payment processing capabilities with Brink's new digital cash solution, BLUbeem™. This collaboration allows over 250,000 merchants on Priority's platform to process cash payments efficiently, addressing the 20-25% of transactions made in cash. The partnership aims to enhance customer services, improve retention, and expand into new market channels.
Priority Technology Holdings (NASDAQ: PRTH) reported strong third quarter results for 2021, with revenue of $132.5 million, a 21.6% increase year-over-year. Gross profit rose 16.8% to $39.7 million, although the gross profit margin decreased to 30.0%. The company experienced a net loss of $0.5 million, contrasting with a net income of $85.7 million in 2020 due to a one-time gain. Adjusted EBITDA improved 20.0% to $23.6 million. Full-year 2021 revenue is projected between $500 million and $520 million.
Priority Technology Holdings, Inc. (NASDAQ: PRTH) has partnered with OneDataSource to enhance the onePAY solution, integrating Priority Commercial Payments Xchange (CPX) into OneDataSource's business process automation services. This collaboration aims to streamline accounts payable for multi-unit quick-service restaurants (QSRs), promising operational efficiencies and cost savings. The North American QSR market is projected to grow to $119.20 billion by 2025, with Priority's technology expected to optimize payment processes and boost profitability for operators.
Priority Technology Holdings, Inc. (NASDAQ: PRTH) has partnered with Wix (Nasdaq: WIX) to integrate the Priority MX Gateway into the Wix platform. This collaboration enables merchants to utilize Wix's tools to create a customizable online presence while benefitting from Priority’s payment solutions. The integration aims to enhance revenue management and streamline workflows, catering to the needs of small and medium businesses. With over 250,000 merchants using Priority’s services, this partnership emphasizes a mutual commitment to supporting the SMB community.
Priority Technology Holdings (PRTH) will announce its third quarter 2021 financial results before markets open on November 15, 2021. Following the release, a conference call and webcast will take place at 11:00 a.m. Eastern Time, allowing for a review of the financial and operating results, along with a Q&A session. An audio replay will be accessible until November 18, 2021, with details available on their website.
FAQ
What is the current stock price of Priority Technology Holdings (PRTH)?
What is the market cap of Priority Technology Holdings (PRTH)?
What services does Priority Technology Holdings, Inc. offer?
What are the main segments of Priority Technology Holdings, Inc.?
What is the MX Product Suite?
What is the CPX Platform?
Who are the main clients of Priority Technology Holdings, Inc.?
What is the focus of the SMB Payments segment?
How does the B2B Payments segment serve its clients?
What does the Enterprise Payments segment offer?
How does Priority Technology Holdings, Inc. enhance its payment solutions?
What is the market focus of Priority Technology Holdings, Inc.?
