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.
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Priority Technology Holdings (NASDAQ: PRTH) is set to unveil its innovative MX POS solutions at the ETA Transact 2023 event in Atlanta, taking place from April 24-26. The MX POS is a cloud-based, customizable solution designed for businesses, offering enhanced cash flow, analytics, and operational support. It integrates with leading delivery services like DoorDash and Uber Eats, as well as accounting tools like QuickBooks. The system targets restaurants, retail, and various merchants, aiming to streamline payment processes and boost average sales. Priority's CEO, Thomas Priore, emphasized the importance of supporting small to medium-sized businesses in the current economic landscape. Attendees can experience a demo at booth #1725 or request information online.
Priority Technology Holdings, Inc. (NASDAQ: PRTH) reported strong financial results for Q4 and full year 2022, highlighting a 23.3% year-over-year revenue increase to $177.6 million, and a 25.3% rise in adjusted gross profit to $61.0 million. For the full year, revenue reached $663.6 million, a 28.9% increase, with adjusted gross profit rising by 46.4% to $226.9 million. The adjusted gross profit margin improved to 34.2%. The company forecasts 2023 revenue between $740 million and $755 million, reflecting 12% to 14% growth, and adjusted EBITDA between $160 million and $165 million, indicating a 14% to 18% growth rate. CEO Tom Priore emphasized the company's resilience in challenging economic conditions.
Priority Technology Holdings, Inc. (NASDAQ: PRTH) will release its fourth quarter and full-year 2022 financial results before the market opens on March 23, 2023. Following the announcement, the Company will host a conference call and webcast at 11:00 a.m. Eastern Time to discuss the results, which will include a question-and-answer session. An audio replay will be available until March 30, 2023. Priority is a payments technology company offering solutions that enable clients to manage payments and banking effectively, leveraging a purpose-built platform for integrated commerce.
Priority Technology Holdings, Inc. (NASDAQ: PRTH) has announced a strategic partnership with IQ BackOffice to enhance accounts payable capabilities through the integration of Priority's CPX solution. This collaboration aims to streamline accounting processes and automate payments via multiple modalities like check, ACH, and virtual card, promising efficiency and up to 70% cost reduction for clients. The integration is expected to digitalize financial processes, lowering risks and enhancing returns on investment. As a leader in embedded finance, Priority supports companies in improving cash flow and operational efficiency.
Priority Technology Holdings has announced partnerships with Factor4 and GiftYa to enhance their gift card offerings. Through the collaboration with Factor4, Priority customers gain access to omnichannel gift card and loyalty solutions, facilitating seamless transactions across various platforms. Factor4 aims to boost merchants' revenue while providing full support. GiftYa's platform allows personalized e-gifting for over 250,000 merchants nationwide, offering innovative card-linked gifting solutions. This strategic move positions Priority to meet growing demands in the gift card sector, ultimately helping merchants retain customers and increase profitability.
Priority Technology Holdings, Inc. (NASDAQ: PRTH) has appointed Marc Crisafulli as a Director, bringing over 30 years of legal and regulatory experience. Crisafulli previously held senior positions at Bally’s Corporation, Brightstar Corporation, and Suffolk Construction Company. His expertise is expected to enhance Priority's growth in new enterprise payment verticals. Crisafulli holds a bachelor's degree from Boston University and a juris doctorate from Georgetown University, and he will participate on various board committees.
Priority Technology Holdings, Inc. (NASDAQ: PRTH) reported strong third quarter 2022 results, with revenue of $166.4 million, a 25.6% increase from $132.5 million in Q3 2021. Gross profit rose 47.4% to $58.5 million, achieving a gross profit margin of 35.1%. Operating income surged 69.9% to $14.1 million, and adjusted EBITDA was $35.1 million, an increase of 48.7%.
The company reaffirmed its 2022 revenue guidance of $650 million to $665 million while revising adjusted EBITDA guidance to $140 million to $145 million.
Priority Technology Holdings, Inc. (NASDAQ: PRTH) will release its third quarter 2022 financial results before the market opens on November 10, 2022. The Company will hold a conference call at 11:00 a.m. Eastern Time to discuss its financial and operating results, followed by a Q&A session. An audio replay will be available until November 17, 2022. Priority is known for its unified commerce platform, providing integrated payments and banking solutions. More details are accessible on the Company's website.
Priority Technology Holdings, Inc. (NASDAQ: PRTH) has appointed Tim O’Leary as its new Chief Financial Officer, succeeding Mike Vollkommer who retires on September 16. O’Leary brings over 20 years of experience in capital markets focused on technology firms, previously serving at Truist Securities. The CEO, Thomas C. Priore, expressed confidence in O’Leary’s expertise to support the company’s growth strategies. Priority is recognized for its payments technology solutions and aims to enhance its unified commerce offerings.