Priority Technology Q2 2023 Earnings Report

Priority Technology EPS Results

• Actual EPS: -$0.16
• Consensus EPS: -$0.14
• Beat/Miss: Missed by -$0.02
• One Year Ago EPS: N/A

Priority Technology Revenue Results

• Actual Revenue: $182.29 million
• Expected Revenue: $189.73 million
• Beat/Miss: Missed by -$7.44 million
• YoY Revenue Growth: N/A

Priority Technology Announcement Details

• Quarter: Q2 2023
• Date: 8/10/2023
• Time: N/A

Priority Technology (NASDAQ:PRTH) operates as a payment technology company in the United States. The company operates through three segments: Small and Medium-Sized Businesses (SMB) Payments, Business-To-Business (B2B) Payments, and Enterprise Payments. It offers SMB payments processing solutions for B2C transactions through independent sales organizations, financial institutions, independent software vendors, and other referral partners through its MX product suite, which includes MX Connect and MX Merchant products, such as MX Insights, MX Storefront, MX Retail, MX Invoice, MX B2B and ACH.com, and others, which provides flexible and customizable set of business applications that helps to manage critical business work functions and revenue performance to resellers and merchant clients using core payment processing. The company also offers CPX, a platform that offers accounts payable automation solutions, including virtual card, purchase card, ACH +, dynamic discounting, or check. In addition, it provides curated managed services; payment-adjacent technologies to facilitate the acceptance of electronic payments from customers; and Plastiq payables management software, which helps businesses in improving cash flow with instant access to working capital. Further, the company offers embedded finance and BaaS solutions to enterprise customers to modernize legacy platforms and accelerate software partners' strategies to monetize payments; and managed services solutions that provide audience-specific programs for institutional partners and other third parties; and consulting and development solutions. It serves SMB, and enterprises, as well as distribution partners, including retail and wholesale independent sales organizations, financial institutions, and independent software vendors. The company was founded in 2005 and is headquartered in Alpharetta, Georgia.