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.
Priority Technology Holdings, Inc. reports developments for a payments and banking fintech built around collecting, storing, lending and sending money. The company’s recurring updates center on its connected commerce platform, including full-service merchant acquiring for accounts receivable, automated payables tools for bill payment, and treasury management solutions for cash flow and working capital.
Priority news also covers customer deployments and partnerships tied to its operating platforms and subsidiaries, including Prisma Prop Tech for multifamily resident payments and engagement, Priority Rollfi for embedded payroll and benefits infrastructure, and Dealer Merchant Services for automotive dealership payment acceptance. Earnings releases, conference-call notices, platform adoption, sponsorship-linked payables relationships, and completed business additions are regular company-specific news themes.
Priority Technology Holdings, Inc. (NASDAQ: PRTH), a unified commerce platform, has announced the release date for its second quarter 2024 financial results. The results will be unveiled before market open on Thursday, August 8, 2024, followed by a conference call and webcast at 11:00 a.m. Eastern Time. The company will host a Q&A session after reviewing its financial and operating results. Investors can access the call via phone or internet webcast, with an audio replay available until August 15, 2024. Priority operates at scale in Payments and Banking as a Service, processing nearly $125 billion in annual transaction volume and administering over $1 billion in deposits across more than 1 million active accounts.
Priority Technology Holdings (NASDAQ: PRTH) announced the successful completion of a debt refinancing, involving the repayment of approximately $170 million in preferred equity and reducing the cost of outstanding debt by 100 basis points.
The refinance included issuing a new $835 million term loan and setting up a new $70 million revolving line of credit.
The proceeds refinanced the existing $653 million term loan due April 2027, leaving $110 million in preferred equity outstanding.
The expected net leverage ratio post-transaction is approximately 4.5x.
This refinancing is anticipated to increase free cash flow by over $5.5 million and net income available to common shareholders by nearly $20 million annually.
The new debt arrangement extends the term loan maturity to May 2031, providing flexibility to execute on the company's Unified Commerce vision and deliver strong shareholder value.
Priority Technology Holdings, Inc. (NASDAQ: PRTH) reported strong first quarter 2024 financial results with revenue of $205.7 million, an 11.2% increase from the previous year. Adjusted gross profit rose to $76.4 million, up 21.2%, and operating income increased by 66.3% to $28.0 million. The company reaffirmed its full-year 2024 guidance with revenue expected to range between $875 million to $890 million and adjusted EBITDA between $193 million to $198 million.
Priority Technology Holdings, Inc. (NASDAQ: PRTH) will release its first quarter 2024 financial results on Thursday, May 9, 2024, followed by a conference call to review financial and operating results. The company operates at scale with 860,000 active customers and processes $120 billion in annual transaction volume.
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