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) reported robust financial results for Q2 2021, with revenue reaching $125 million, a 35.4% increase from Q2 2020. Gross profit also rose 17.4% to $35.2 million, though the gross profit margin decreased to 28.1%. Adjusted EBITDA improved by 26.1% to $21 million. Despite a diluted loss per share of $0.35, the company forecasts full-year revenue between $480-$500 million, up 22%-28% year-over-year. The acquisition of Finxera is set to enhance growth prospects.
Priority Technology Holdings, Inc. (NASDAQ: PRTH) announced it will release its second quarter 2021 financial results on August 9, 2021, before market open. The Company will host a conference call at 11:00 a.m. ET to discuss the results, including a Q&A session. Investors can access the call via phone or webcast. An audio replay will be available after the call until August 12, 2021. Priority specializes in merchant acquiring, integrated payment software, and commercial payment solutions.
Priority Technology Holdings, Inc. (NASDAQ: PRTH) reported first quarter 2021 revenue of $113.3 million, up 16.9% from $96.9 million in Q1 2020. Gross profit rose 2.8% to $31.4 million, with a gross profit margin of 27.7%, down from 31.5%. Income from operations increased 27.2% to $4.5 million. Adjusted EBITDA grew 13.9% to $18.0 million. The total net leverage ratio improved to 5.44x. The company expects to complete its acquisition of Finxera Holdings in Q3 2021, which will boost revenue and EBITDA significantly.
Priority Technology Holdings, Inc. (NASDAQ: PRTH) will announce its first quarter 2021 financial results on May 12, 2021, after market close. A conference call follows on May 13, 2021, at 11:00 a.m. ET, for discussion and Q&A. The public can access the webcast and slides via the company's investor relations page. Additional information about Priority's services and infrastructure is available on their website. This announcement is pivotal for investors tracking PRTH's performance and future outlook.
Priority Technology Holdings (NASDAQ: PRTH) announced the successful completion of its debt refinancing and preferred equity issuance on April 29, 2021. The new $300 million senior debt facility lowers interest expenses by 75 basis points, while a $290 million delayed draw term loan will help finance the acquisition of Finxera. Additionally, a $40 million revolving credit facility is now accessible. A preferred equity investment of $150 million is aimed to refinance debt and support acquisitions, showcasing Priority's commitment to growth.
Priority Technology Holdings, Inc. (NASDAQ: PRTH) reported its Q4 2020 financial results, showing an 8.1% increase in revenue to $106.1 million compared to Q4 2019. Gross profit rose 3.2% to $32.5 million, while income from operations surged 489.3% to $6.2 million. Although the company posted a net loss of $1.0 million, this was an improvement from a net loss of $7.2 million in the prior year. Adjusted EBITDA grew 12.7% to $18.2 million. The total net leverage ratio improved to 5.85x, down from 6.16x in Q3 2020. Executives expressed optimism for continued growth in 2021.
Priority Technology Holdings (NASDAQ: PRTH) will participate in the 33rd Annual Roth Conference on March 15, 2021. CEO Tom Priore and other representatives will hold one-on-one meetings with investors to discuss the company's financial performance. For Q4 2020, revenue reached $106.1 million, marking an 8.1% increase year-over-year, while adjusted EBITDA rose 12.7% to $18.2 million. For the full year 2020, revenue was $404.3 million, an 8.7% increase, with adjusted EBITDA of $70.3 million. The company projects 2021 revenue between $450 to $470 million.
Priority Technology Holdings (NASDAQ: PRTH) will release its fourth quarter and full-year 2020 financial results on March 16, 2021, after market close. A conference call to discuss these results will take place on March 17, 2021, at 11:00 a.m. ET, followed by a Q&A session. Investors can access the call via phone or webcast. The company specializes in merchant acquiring and integrated payment solutions, operating from a robust payments infrastructure. For more information, visit www.PRTH.com.
Priority Technology Holdings (NASDAQ: PRTH) announced a definitive merger agreement with Finxera Holdings, a fintech pioneer known for its Banking as a Service (BaaS) platform. The merger is set to close in Q3 2021, enabling Priority to offer enhanced payment solutions, including card issuing and virtual banking, through a unified platform. With projected combined revenues of approximately $540 million and adjusted EBITDA of $130 million for 2021, the acquisition aims to strengthen Priority’s position in the market. Priority has secured $630 million in debt facility and $250 million in preferred equity commitments to finance the merger.
Priority Technology Holdings, Inc. (NASDAQ: PRTH) will participate in the A.G.P. Emerging Growth Technology Conference on February 4, 2021. The company plans to hold virtual one-on-one meetings, emphasizing its guidance for Q4 2020, aiming to match or exceed Q3 2020 revenue of $105.1 million and adjusted EBITDA of $17.1 million, excluding RentPayment results. This strong momentum is expected to continue into Q4 2020. More details can be found in the company’s Q3 earnings release on November 12, 2020.
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