PRTH · Priority Technology Holdings, Inc.

Priority Technology Holdings, Inc. delivered strong Q1 2026 results, with revenue growing 11.1% year-over-year to $249.6 million, driven by the strength of its Unified Commerce Platform combining merchant acquiring, payables, and treasury solutions. Adjusted gross profit expanded 13.2% to $98.8 million, with margins improving nearly 70 basis points to 39.6%, reflecting a shift toward higher-margin segments where Payables and Treasury Solutions comprised 62% of LTM adjusted gross profit (65% excluding acquisitions). CEO Tom Priore highlighted the Connected Commerce engine's success in enabling partners to embed money movement, compliance, and risk management into workflows, fostering revenue opportunities and efficiency. Segment performance was robust: Merchant Solutions revenue up 7% with 4% organic growth and total card volumes at $18.1 billion; Payables revenue surged 36% driven by buyer- and supplier-funded increases; Treasury Solutions revenue grew 17% with 1.8 million customer accounts, $1.8 billion in account balances, and $153 billion LTM payments volume. Operating expenses rose due to acquisition-related headcount, non-recurring SG&A, and higher depreciation, but Adjusted EBITDA still increased 13% to $58.1 million. Net leverage stood at 4.0x, with total debt at $1.02 billion and cash at $92.2 million. The company affirmed its full-year 2026 guidance, signaling confidence in sustained momentum across segments amid ongoing rate pressures offset by enrollment growth and partner integrations.