Welcome to our dedicated page for Priority Technology Hldgs news (Ticker: PRTH), a resource for investors and traders seeking the latest updates and insights on Priority Technology Hldgs stock.
News about Priority Technology Holdings, Inc. (NASDAQ: PRTH) centers on its role as a payments and banking solution provider that enables businesses to collect, store, lend and send funds through a unified commerce engine. The company’s communications emphasize a connected commerce platform that brings together payables, merchant solutions or services, and treasury and banking solutions to streamline financial operations and support business growth.
On this page, readers can review company-issued updates such as quarterly and year-to-date financial results, where Priority discusses revenue trends, adjusted gross profit, operating income, EBITDA, Adjusted EBITDA, and Adjusted EPS. These releases often include definitions and reconciliations of non-GAAP measures and commentary on segment performance across Merchant Solutions, Payables, and Treasury Solutions.
Priority’s news flow also includes announcements of strategic acquisitions and financing arrangements. Recent press releases describe the acquisition of certain assets of Boom Commerce, an existing reseller partner, and the acquisition of substantially all of the assets of DMSJV, LLC (Dealer Merchant Services), a vertically focused reseller in the auto and truck dealership sector. The company has also announced a senior secured delayed draw credit facility tied to receivables related to reseller residuals, as well as amendments and refinancings of its credit and guaranty agreements and a broadly syndicated credit facility.
Another important category of news involves strategic and corporate actions. Priority has disclosed a preliminary, non-binding proposal from an investor group led by its Chairman and Chief Executive Officer to acquire the remaining shares of the company’s common stock not already held by that group. The board formed a special committee of independent and disinterested directors to evaluate this proposal and potential strategic alternatives, and subsequent news has covered the engagement of financial and legal advisors to support that review.
Investors and followers of PRTH can use this news feed to monitor Priority’s financial reporting, capital structure developments, acquisition activity, and board-level evaluations of strategic options, all based on the company’s own press releases and related disclosures.
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.