Priority Technology Holdings, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 10, 2022 at 07:31 am EST
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Priority Technology Holdings, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 166.42 million compared to USD 132.54 million a year ago. Net loss was USD 0.792 million compared to USD 0.549 million a year ago. Basic loss per share from continuing operations was USD 0.13 compared to USD 0.09 a year ago.
For the nine months, sales was USD 486.09 million compared to USD 370.85 million a year ago. Net loss was USD 0.838 million compared to USD 12.71 million a year ago. Basic loss per share from continuing operations was USD 0.35 compared to USD 0.48 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. 
