Priority Technology Holdings, Inc.

Listed Company

PRTHUCIK 0001653558OTCAcceleratedSmaller ReportingServices-Business Services, NecDelawareFY ends Dec 31

Period

FY 2025

Revenue

$953.01M

Net Income

$55.68M

Total Assets

$2.40B

Equity

$-100.42M

Shares Out

82.29M

Op. Cash Flow

$100.00M

Business

Priority Technology Holdings, Inc. is a payments and banking fintech that streamlines collecting, storing, lending and sending money through its Priority Commerce Engine to unlock revenue opportunities and generate operational success for businesses. It offers merchant services, payables automation, embedded finance, account ledgering, banking and treasury solutions, API and proprietary application delivery, risk management, underwriting and customer support. Priority operates across three primary segments: SMB Acquiring, B2B Payables and Enterprise Payments (embedded finance/BaaS). Its solutions serve resellers, ISVs, financial institutions and merchants nationwide through ISOs, direct sales, ISV/VAR channels and bank partnerships.

Summary from filing dated 2025-03-06

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	953	880	756	664	515
Costs of services (excludes depreciation and amortization)	578	552	480	437	360
Salary and employee benefits	108	89	80	65	44
Depreciation and amortization	63	58	68	71	50
Selling, general and administrative	62	47	45	35	28
Total operating expenses	812	746	674	607	482
Operating income	141	133	82	56	33
Interest expense	−91	−89	−76	−54	—
Debt extinguishment and modification costs	−13	−10	0	0	−8
Other income, net	8	3	2	589,000	202,000
Total other expense, net	−95	−96	−74	−53	−37
Income before income taxes	46	37	7	3	−4
Income tax (benefit) expense	−9	13	8	5	−5
Net income (loss)	56	24	−1	−2	1
Less: Dividends, accretion, and related excise tax attributable to redeemable senior preferred stockholders	0	−47	−48	−37	−18
Less: Return on redeemable NCI in consolidated subsidiary	0	−639,000	0	0	—
Net income (loss) attributable to common stockholders	56	−24	−49	−39	−25
Foreign currency translation adjustments	−34,000	−147,000	−29,000	0	0
Comprehensive income (loss)	56	−24	−49	−39	−25
Basic (in dollars per share)	0.7	−0.31	−0.63	−0.5	−0.34
Diluted (in dollars per share)	0.68	−0.31	−0.63	−0.5	−0.34
Basic (in shares)	80	78	78	78	72
Diluted (in shares)	81	78	78	78	72

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	77	59	40	18	20
Restricted cash	16	11	12	—	29
Accounts receivable, net of allowances of $6,297 and $3,045, respectively	91	68	59	78	58
Prepaid expenses and other current assets	32	23	13	12	16
Current portion of notes receivable, net of allowances of $0 and $0, respectively	2	4	1	1	272,000
Settlement assets	1,296	941	756	532	479
Total current assets	1,515	1,105	881	652	603
Notes receivable, less current portion	18	5	4	3	105,000
Property, equipment and software, net	59	52	45	35	25
Goodwill	417	376	376	369	366
Intangible assets, net	315	241	273	289	340
Deferred income taxes, net	46	25	23	16	8
Other noncurrent assets	29	23	14	8	9
Total assets	2,399	1,827	1,615	1,373	1,352
Accounts payable and accrued expenses	71	62	53	52	43
Accrued residual commissions	40	38	33	36	30
Customer deposits and advance payments	2	2	4	3	5
Current portion of long-term debt	0	10	7	6	6
Settlement obligations	1,297	940	756	533	500
Total current liabilities	1,410	1,052	852	630	584
Long-term debt, net of current portion, discounts and debt issuance costs	1,039	921	632	599	604
Other noncurrent liabilities	41	19	19	12	18
Total liabilities	2,491	1,992	1,503	1,241	1,206
Commitments and contingencies (Note 16)	—	—	—	—	—
Preferred stock, $0.001 par value per share; 100,000,000 shares authorized; none issued or outstanding at December 31, 2025 and December 31, 2024	0	0	0	0	0
Common Stock,$0.001 par value per share; 1,000,000,000 shares authorized; 86,639,593 and 81,866,711 shares issued at December 31, 2025 and December 31, 2024, respectively; and 81,907,304 and 77,479,908 shares outstanding at December 31, 2025 and December 31, 2024, respectively.	82,000	77,000	77,000	76,000	77,000
Treasury stock at cost, 4,732,289 and 4,386,803 shares at December 31, 2025 and December 31, 2024, respectively	−23	−20	−13	−12	—
Additional paid-in capital	14	0	0	10	40
Accumulated other comprehensive income (loss)	−210,000	−176,000	−29,000	0	—
Accumulated deficit	−91	−147	−135	−102	−100
Total stockholders' deficit attributable to stockholders of Priority	−100	−167	−148	−104	−64
Equity, Attributable to Noncontrolling Interest	8	2	2	1	0
Total stockholders' deficit	−92	−165	−146	−103	−64
Total liabilities, stockholders' deficit and Non-controlling interest	2,399	1,827	1,615	1,373	1,352

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization of assets	63	58	68	71	50
Stock-based compensation, ESPP, and incentive units compensation	11	6	7	6	3
Amortization of debt issuance costs and discounts	2	3	4	4	2
Debt extinguishment and modification costs	13	10	0	0	3
Deferred income tax benefit	−12	−2	−6	−8	−3
Change in deferred consideration liability	3	3	−2	2	0
Other non-cash items, net	−293,000	−147,000	−4	74,000	462,000
Bargain purchase gain	−4	0	0	—	—
Accounts receivable	−22	−9	24	−20	−17
Prepaid expenses and other current assets	−84,000	−6	−936,000	−160,000	−2
Income taxes receivable	−9	−4	−273,000	6	−5
Notes receivable	0	0	−912,000	377,000	333,000
Accounts payable and accrued expenses	6	5	−3	20	7
Accrued residuals commissions	3	5	−264,000	—	—
Customer deposits and advance payments	−319,000	−2	1	−2	2
Other assets, net	−4	−6	−7	—	—
Other liabilities, net	−4	1	2	—	—
Net cash provided by operating activities	100	86	81	71	9
Acquisitions of businesses, net of cash acquired	−39	0	−28	−5	−407
Additions to property, equipment and software	−25	−22	−21	−19	−10
Notes receivable, net (see Note 5)	−11	−3	376,000	−5	0
Acquisition of assets	−69	−6	−7	−8	−49
Other investing activities	−29	−5	0	—	—
Net cash used in investing activities	−174	−36	−56	−37	−451
Proceeds from issuance of long-term debt, net of issue discount	1,067	945	50	0	607
Debt issuance and modification costs paid	−5	−8	−1	0	−9
Repayments of long-term debt	−961	−659	−6	−6	−361
Borrowings under revolving credit facility	0	0	44	30	30
Repayments of borrowings under revolving credit facility	0	0	−57	−32	−15
Redemption of senior preferred stock	0	−225	0	0	—
Redemption of accumulated dividend on redeemable preferred stock	0	−55	0	0	—
Redemption of redeemable non-controlling interest in subsidiary	−7	−2	0	0	—
Shares withheld for taxes	−3	−2	−1	—	—
Dividends paid to redeemable senior preferred stockholders	0	−24	−25	−11	−7
Proceeds from the exercise of stock options	467,000	2	0	0	1
Settlement obligations, net	355	180	211	43	418
Payment of contingent/deferred consideration	−20	−6	−5	−7	0
Net cash provided by financing activities	426	148	210	9	872
Net increase in cash and cash equivalents, and restricted cash	352	198	236	43	430
Cash paid for interest	86	82	76	47	26
Cash paid for income taxes, net of refunds	11	19	13	7	2
Addition of contingent/deferred consideration liabilities	28	0	8	—	—
Deferred consideration accrual	3	3	6	—	—
Net non-cash change in lease liability	1	2	2	2	—
Measurement period adjustment to purchase price	−663,000	12,000	111,000	0	0
Acquisition of intangible asset	−2	−4	0	0	—
Cash portion of dividend payable and ticking fee for redeemable senior preferred stock	0	0	−7	−5	0
Issuance of NCI	7	0	184,000	—	—
Issuance of Common Stock in asset acquisition	13	0	0	1	0
Liability incurred in asset acquisition	4	0	0	—	—
Adjustment to value of profit interest unit	0	0	−404,000	0	0

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