Priority Technology Holdings, Inc. SEC 10-Q Report

Priority Technology Holdings, Inc., a leading provider of merchant acquiring and commercial payment solutions, has released its Form 10-Q report for the second quarter of 2025. The report highlights significant growth in both financial and operational metrics, driven by increased transaction volumes, new customer enrollments, and strategic acquisitions.

Financial Highlights

• Total Revenue: $239.8 million, increased by 9.1% from $219.9 million in the prior year period, driven by growth in merchant bankcard value and new customer enrollments.
• Operating Income: $37.4 million, up from $33.2 million, reflecting improved operational efficiency and increased processing volumes.
• Net Income: $10.9 million, a significant increase from $0.994 million, attributed to higher revenues and controlled operating expenses.
• Basic Earnings (loss) per common share: $0.14, compared to a loss of $0.23 per share in the prior year period, indicating a return to profitability.
• Diluted EPS: $0.14, compared to a loss of $0.23 per share, reflecting improved financial performance.

Business Highlights

• Revenue Segments: The SMB Payments segment generated $162.8 million in revenue for the three months ended June 30, 2025, driven by increased merchant bankcard value and transaction count. The B2B Payments segment reported $24.7 million, benefiting from increased processing volume and incentive income. The Enterprise Payments segment contributed $52.4 million, with growth in new customer enrollments and higher interest income.
• Revenue Segments (Six Months): For the six months ended June 30, 2025, the SMB Payments segment achieved $314.0 million in revenue, the B2B Payments segment reached $48.4 million, and the Enterprise Payments segment recorded $102.1 million, reflecting similar growth trends as observed in the quarterly results.
• Geographical Performance: The acquisition of the Letus business, which operates in the United States and Canada, is expected to enhance the company's Enterprise Payments segment by expanding services in Canada and providing synergy opportunities.
• Sales Units: The increase in merchant bankcard value and total card value processed contributed significantly to the revenue growth in the SMB Payments segment, indicating a rise in transaction volumes.
• New Product Launches: The acquisition of Payslate Inc. and its subsidiary Rentmoola Payment Solutions Ltd is expected to bolster the company's rent payment processing capabilities, particularly in the U.S. and Canadian markets.
• Future Outlook: The company anticipates continued growth in its core segments, driven by increased customer enrollments, higher transaction volumes, and strategic acquisitions like the Letus business. The management remains focused on leveraging these opportunities to enhance operational performance and expand market presence.

SEC Filing: Priority Technology Holdings, Inc. [ PRTH ] - 10-Q - Aug. 07, 2025