0001653558-26-000102
SEC filingPriority Technology Holdings reported Q1 2026 segment revenues totaling $249.6M, with Treasury Solutions leading at $57.3M, and purchase commitments of $123.6M.
As of March 31, 2026, Priority Technology Holdings held $92.2M in cash and cash equivalents, with total debt of $1,062.0M (gross), resulting in a net debt position of $969.8M. Shareholders' deficit stood at $(81.8)M, reflecting accumulated deficits and treasury stock. The current ratio (excluding settlement assets/obligations) is low, but settlement assets and obligations largely offset. Liquidity is supported by a $100.0M revolving credit facility (undrawn at quarter-end).
Minimum annual commitments with third-party processors total $123.6M, with $25.7M due within one year. Additionally, the company has $2.2M in capital contribution commitments to certain subsidiaries. Contingent and deferred consideration liabilities from acquisitions amount to $28.7M as of March 31, 2026, with $1.1M classified as current. These commitments represent fixed obligations that will impact future cash flows.
No dividends were paid or declared. Share repurchase activity was nil during Q1 2026; the program has $34.2M remaining authorization. Net debt increased by $6.6M due to $6.8M in borrowings under the Residual Finance Credit Facility, partially offset by $0.2M in repayments. Capital expenditures totaled $5.5M (2.2% of revenue), primarily for software and equipment.
Three reportable segments: Merchant Solutions ($160.3M revenue, +6.0% YoY), Payables ($32.0M, +35.7% YoY), and Treasury Solutions ($57.3M, +15.0% YoY). Segment profitability is measured by Adjusted EBITDA: Merchant $27.7M, Payables $5.5M, Treasury $46.7M. Depreciation and amortization by segment: Merchant $9.9M, Payables $1.3M, Treasury $5.2M. No geographic mix disclosed beyond foreign currency translation effects.