Priority Technology Holdings, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2021
May 13, 2021 at 06:06 am EDT
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Priority Technology Holdings, Inc. announced earnings results for the first quarter ended March 31, 2021. For the first quarter, the company announced sales was USD 113.297 million compared to USD 96.933 million a year ago. Operating income was USD 4.527 million compared to USD 3.559 million a year ago. Net loss was USD 2.679 million compared to USD 5.869 million a year ago. Basic loss per share from continuing operations was USD 0.04 compared to USD 0.09 a year ago.
Priority Technology Holdings, Inc. is a solution provider in payments and banking as a service (BaaS) industry, operating at a scale with 860,000 active customers across its small and medium-sized businesses (SMB), business-to-business and enterprise customer channels. The Company has three segments. SMB Acquiring Solutions segment provides full-service acquiring and payment-enabled solutions for business-to-consumer transactions, leveraging its proprietary software platform, distributed through independent sales organizations (ISO), direct sales and vertically focused independent software vendor (ISV) channels. B2B Payables segment provides accounts payable (AP) automation solutions to corporations, software partners and industry financial institutions (FI), including Citibank and Mastercard. Enterprise Payments and BaaS segment provides embedded finance and BaaS solutions for customers to modernize legacy platforms and accelerate software partners' strategies to monetize payments.
PRIORITY TECHNOLOGY HOLDINGS, INC. 
