Priority Technology Hldgs Inc Stock Price, News & Analysis

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.

Priority Technology Holdings, Inc. (NASDAQ: PRTH) announces new board appointments, welcoming Stephen W. Hipp and Marietta C. Davis. Hipp succeeds William Gahan, who transitions to vice president focusing on institutional partnerships. Davis takes over for Matthew Kearney, a founding director, who will retire at year-end to concentrate on his CEO role at LeadingResponse. The company’s leadership expresses optimism regarding the new members' diverse experience in enterprise software, anticipating strengthened growth in integrated payment solutions.

Priority Technology Holdings, Inc. (NASDAQ: PRTH) reported robust Q3 2020 results with a 16.1% year-over-year revenue growth, totaling $109.0 million. Gross profit increased 12.7% to $34.0 million, despite a slight decline in gross profit margin to 31.2%. The company achieved a net income of $40.4 million, a significant recovery from a $5.8 million loss a year ago, driven by a $62.1 million gain from the sale of its RentPayment business. Additionally, net debt was reduced by $124 million to $370.4 million, lowering the net leverage ratio to 6.16x.

Priority Technology Holdings (NASDAQ: PRTH) will announce its third quarter 2020 financial results on November 12, 2020, after market close. The Company specializes in merchant acquiring and integrated payment solutions, aiming to provide end-to-end offerings. A conference call is scheduled for November 13, 2020, at 11:00 a.m. ET, where they will discuss financial outcomes and allow for a Q&A session. An audio replay will be available until November 16, 2020. More information can be found on the Company's website.

Priority Technology Holdings, Inc. (NASDAQ: PRTH) announced its participation in Alliance Global Partners' Tech Talk series. CEO Tom Priore will join a fireside chat at 11:00 a.m. EDT on October 8, 2020. This virtual event aims to discuss insights on the merchant acquiring sector and integrated payment solutions. Interested participants can register for the live webinar via the provided link.

Priority is recognized for its robust merchant acquiring, integrated payment software, and corporate payment solutions, utilizing a custom-built payments infrastructure.