Priority Technology Holdings, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 10, 2023 at 08:34 am EDT
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Priority Technology Holdings, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 182.29 million compared to USD 166.43 million a year ago. Net loss was USD 0.612 million compared to net income of USD 0.287 million a year ago. Basic loss per share from continuing operations was USD 0.16 compared to USD 0.11 a year ago.
For the six months, sales was USD 367.32 million compared to USD 319.67 million a year ago. Net loss was USD 1.12 million compared to USD 0.046 million a year ago. Basic loss per share from continuing operations was USD 0.31 compared to USD 0.22 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.