-Priority Technology Holdings, Inc. (NASDAQ: PRTH) ("Priority" or the "Company"), a payments and banking fintech that streamlines collecting, storing, lending and sending money through its innovative commerce engine (the “Priority Commerce Engine” or “PCE”) to unlock revenue opportunities and generate operational success for businesses, has announced its fourth quarter and full year 2024 financial results including strong year-over-year revenue and profit growth.

Highlights of Consolidated Results

Fourth Quarter 2024 Compared with Fourth Quarter 2023

Financial highlights of the fourth quarter of 2024 compared with the fourth quarter of 2023, are as follows²:

• Revenue of $227.1 million increased 13.9% from $199.3 million
• Adjusted gross profit (a non-GAAP measure¹) of $83.9 million increased 15.1% from $72.9 million
• Adjusted gross profit margin (a non-GAAP measure¹) of 37.0% increased 40.0 basis points from 36.6%
• Operating income of $34.1 million increased 54.9% from $22.0 million
• Adjusted EBITDA (a non-GAAP measure¹) of $51.7 million increased 16.0% from $44.6 million
• Adjusted EPS (a non-GAAP measure¹) of $0.18 increased 800% from $0.02
• Driven by strong cash flow performance in 2024, the Company made a $10.0 million voluntary prepayment on its term loan on February 28, 2025

Full Year 2024 Compared with Full Year 2023

Financial highlights of the Full Year of 2024 compared with the Full Year of 2023, are as follows²:

• Revenue of $879.7 million increased 16.4% from $755.6 million
• Adjusted gross profit (a non-GAAP measure¹) of $328.1 million increased 19.2% from $275.3 million
• Adjusted gross profit margin (a non-GAAP measure¹) of 37.3% increased 90 basis points from 36.4%
• Operating income of $133.4 million increased 63.7% from $81.5 million
• Adjusted EBITDA (a non-GAAP measure¹) of $204.3 million increased 21.3% from $168.3 million
• Adjusted EPS (a non-GAAP measure¹) of $0.51 increased 750% from $0.06

“We reported the strongest revenue performance in our history, both for the fourth quarter and the full year, driven by continued momentum in every segment of our business," said Tom Priore, Chairman & CEO of Priority. “The numbers demonstrate that the Priority Commerce Engine that streamlines collecting, storing, lending and sending money with solutions for acquiring, payables and banking – and creates revenue and operational success for businesses – continues to resonate with our partners and customers. We remain committed to meeting our customers where they are with a flexible financial toolset that makes working with Priority seamless and easy.”

Full Year 2025 Financial Guidance

Priority's outlook remains strong, which is reflected in our full year 2025 guidance:

• Revenue forecast to range between $965 million to $1 billion, a growth rate of 10% to 14%, compared to fiscal 2024 results
• Adjusted gross profit (a non-GAAP measure) forecast to range between $360 million and $385 million, a growth rate of 10% to 17% compared to fiscal 2024 results
• Adjusted EBITDA (a non-GAAP measure) forecast to range between $220 million to $230 million, a growth rate of 8% to 13% compared to fiscal 2024 results

Conference Call

Priority's leadership will host a conference call on Thursday, March 6, 2025 at 11:00 a.m. EST to discuss its fourth quarter and full-year 2024 financial results. Participants can access the call by phone in the U.S. or Canada at (833) 636-1319 or internationally at (412) 902-4286.

The Internet webcast link and accompanying slide presentation can be accessed at https://edge.media-server.com/mmc/p/59kiss68 and will also be posted in the "Investor Relations" section of the Company's website at www.prioritycommerce.com.

An audio replay of the call will be available shortly after the conference call until March 13, 2025 at 2:00 p.m. EST. To listen to the audio replay, dial (877) 344-7529 or (412) 317-0088 and enter conference ID number 2813602. Alternatively, you may access the webcast replay in the "Investor Relations" section of the Company's website at www.prioritycommerce.com.