Priority Technology Holdings Reports Strong 2024 Growth

Priority Technology Holdings ( (PRTH) ) has released its Q4 earnings. Here is a breakdown of the information Priority Technology Holdings presented to its investors.

Priority Technology Holdings, Inc. is a fintech company specializing in payments and banking services, leveraging its Priority Commerce Engine to facilitate money transactions and optimize business operations. The company recently reported its fourth quarter and full year 2024 financial results, showcasing significant growth in revenue and profitability across its diverse business segments. For the fourth quarter of 2024, Priority reported a revenue increase of 13.9% to $227.1 million, with an operating income surge of 54.9% to $34.1 million. The company’s adjusted EBITDA rose by 16% to $51.7 million, and adjusted EPS saw an impressive 800% increase to $0.18. For the full year, revenue grew by 16.4% to $879.7 million, and operating income increased by 63.7% to $133.4 million. Adjusted EBITDA for the year was up 21.3% to $204.3 million, while adjusted EPS grew by 750% to $0.51. Priority’s strong cash flow performance enabled a $10 million voluntary prepayment on its term loan. Looking ahead, Priority’s management remains optimistic, forecasting 2025 revenue to range between $965 million and $1 billion, with continued growth in adjusted gross profit and EBITDA. The company aims to maintain its momentum by providing flexible financial solutions to its customers.