Priority Technology (PRTH)


Market Price (9/6/2026): $5.555 | Market Cap: $453.0 MilSector: Information Technology | Industry: Systems Software

Priority Technology (PRTH)


Market Price (9/6/2026): $5.555
Market Cap: $453.0 Mil
Sector: Information Technology
Industry: Systems Software

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 12%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 8.1%, FCF Yield is 23%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 10%

Megatrend and thematic drivers
Megatrends include Fintech & Digital Payments, and E-commerce & Digital Retail. Themes include Digital Payments, Online Marketplaces, Show more.

Weak multi-year price returns
2Y Excs Rtn is -44%, 3Y Excs Rtn is -15%

Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 205%

Key risks
PRTH key risks include [1] a significant debt burden with negative shareholder equity, Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 12%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 8.1%, FCF Yield is 23%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 13%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 10%
2 Megatrend and thematic drivers
Megatrends include Fintech & Digital Payments, and E-commerce & Digital Retail. Themes include Digital Payments, Online Marketplaces, Show more.
3 Weak multi-year price returns
2Y Excs Rtn is -44%, 3Y Excs Rtn is -15%
4 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 205%
5 Key risks
PRTH key risks include [1] a significant debt burden with negative shareholder equity, Show more.

PRTH in ETFs

Weight = PRTH's share of each fund

VTI0.00%
IWM0.01%
IWO0.01%
VTWO0.01%
SCHA0.00%
DFAS0.00%
IWN0.00%
IWV0.00%
+2 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 9/1/2026

Priority Technology (PRTH) stock has lost about 15% since 5/31/2026 because of the following key factors:

1. Declining GAAP Profitability Despite Adjusted Beats.

Despite reporting adjusted diluted EPS of $0.29 for fiscal Q2 2026, exceeding analyst consensus estimates of $0.26 to $0.2652, and a 9.4% year-over-year revenue increase to $262.3 million, Priority Technology's GAAP profitability metrics experienced declines. Diluted GAAP EPS decreased by 14.3% to $0.12 in fiscal Q2 2026 from $0.14 in fiscal Q2 2025. Additionally, operating income decreased by 11.8% to $33.0 million, and net income fell by 9.3% to $9.9 million in fiscal Q2 2026 compared to the prior year. Gross profit margin also saw a decrease of nearly 50 basis points to 36.0%.

2. Significant Debt Burden and Negative Equity.

Priority Technology maintains a substantial debt load, with total debt obligations recorded at $1,062.88 million as of June 30, 2026. This debt is not adequately covered by operating cash flow, which stands at 12% of total debt, indicating potential liquidity and financial flexibility concerns. The company also reported negative equity of approximately -$71 million.

Show more
Updated on 9/1/2026

Priority Technology (PRTH) stock has lost about 15% since 5/31/2026 because of the following key factors:

1. Declining GAAP Profitability Despite Adjusted Beats.

Despite reporting adjusted diluted EPS of $0.29 for fiscal Q2 2026, exceeding analyst consensus estimates of $0.26 to $0.2652, and a 9.4% year-over-year revenue increase to $262.3 million, Priority Technology's GAAP profitability metrics experienced declines. Diluted GAAP EPS decreased by 14.3% to $0.12 in fiscal Q2 2026 from $0.14 in fiscal Q2 2025. Additionally, operating income decreased by 11.8% to $33.0 million, and net income fell by 9.3% to $9.9 million in fiscal Q2 2026 compared to the prior year. Gross profit margin also saw a decrease of nearly 50 basis points to 36.0%.

2. Significant Debt Burden and Negative Equity.

Priority Technology maintains a substantial debt load, with total debt obligations recorded at $1,062.88 million as of June 30, 2026. This debt is not adequately covered by operating cash flow, which stands at 12% of total debt, indicating potential liquidity and financial flexibility concerns. The company also reported negative equity of approximately -$71 million.

3. Analyst Price Target Reductions and "Earnings Quality" Concerns.

Following the fiscal Q2 2026 earnings report, analysts trimmed their price targets for PRTH stock. For example, a price target was reduced from $10 to $7 around August 7, 2026, citing softer fair value assumptions, a higher discount rate, and updated margin and P/E expectations due to recent margin pressure. Furthermore, a "minor risk" related to "Earnings quality" was identified on August 8, 2026, due to large one-off items constituting 23% of the company's trailing 12-month earnings before tax.

4. Macroeconomic Headwinds and Increased Scrutiny in the Fintech Sector.

The broader financial technology sector faced increased macroeconomic and geopolitical uncertainties during the first half of 2026, which impacted investor sentiment. Factors such as rising interest rates, persistent inflation, and geopolitical tensions contributed to a more cautious investment environment. Additionally, the fintech sector is entering a period of closer public-market scrutiny and heavier compliance burdens, with sponsor banks demonstrating increased scrutiny over fintech partners' anti-money laundering (AML) controls. This broader industry shift towards a stronger focus on profitability and regulatory adherence likely contributed to investor apprehension.

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Stock Movement Drivers

Fundamental Drivers

The -13.1% change in PRTH stock from 5/31/2026 to 9/5/2026 was primarily driven by a -11.4% change in the company's P/E Multiple.
(LTM values as of)53120269052026Change
Stock Price ($)6.395.55-13.1%
Change Contribution By: 
Total Revenues ($ Mil)9781,0002.3%
Net Income Margin (%)5.8%5.6%-4.0%
P/E Multiple9.18.1-11.4%
Shares Outstanding (Mil)8182-0.2%
Cumulative Contribution-13.1%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2026 to 9/5/2026
ReturnCorrelation
PRTH-13.1% 
Market (SPY)1.8%17.5%
Sector (XLK)-2.0%4.4%

Fundamental Drivers

The 0.0% change in PRTH stock from 2/28/2026 to 9/5/2026 was primarily driven by a 7.2% change in the company's Total Revenues ($ Mil).
(LTM values as of)22820269052026Change
Stock Price ($)5.555.550.0%
Change Contribution By: 
Total Revenues ($ Mil)9331,0007.2%
Net Income Margin (%)5.9%5.6%-4.1%
P/E Multiple8.28.1-1.3%
Shares Outstanding (Mil)8082-1.5%
Cumulative Contribution0.0%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 9/5/2026
ReturnCorrelation
PRTH0.0% 
Market (SPY)12.6%24.7%
Sector (XLK)35.1%13.7%

Fundamental Drivers

The -33.7% change in PRTH stock from 8/31/2025 to 9/5/2026 was primarily driven by a -54.1% change in the company's P/E Multiple.
(LTM values as of)83120259052026Change
Stock Price ($)8.375.55-33.7%
Change Contribution By: 
Total Revenues ($ Mil)9191,0008.9%
Net Income Margin (%)4.1%5.6%37.1%
P/E Multiple17.68.1-54.1%
Shares Outstanding (Mil)7982-3.1%
Cumulative Contribution-33.7%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 9/5/2026
ReturnCorrelation
PRTH-33.7% 
Market (SPY)20.4%34.4%
Sector (XLK)43.3%23.7%

Fundamental Drivers

The 49.6% change in PRTH stock from 8/31/2023 to 9/5/2026 was primarily driven by a 40.6% change in the company's Total Revenues ($ Mil).
(LTM values as of)83120239052026Change
Stock Price ($)3.715.5549.6%
Change Contribution By: 
Total Revenues ($ Mil)7111,00040.6%
P/S Multiple0.40.510.8%
Shares Outstanding (Mil)7882-4.0%
Cumulative Contribution49.6%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2023 to 9/5/2026
ReturnCorrelation
PRTH49.6% 
Market (SPY)77.1%33.8%
Sector (XLK)117.2%27.6%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
PRTH Return1%-26%-32%230%-54%-1%-23%
Peers Return-18%-31%11%12%-39%0%-58%
S&P 500 Return27%-19%24%23%16%13%106%

Monthly Win Rates [3]
PRTH Win Rate58%50%42%58%42%56% 
Peers Win Rate42%40%57%50%43%40% 
S&P 500 Win Rate75%42%67%75%67%56% 

Max Drawdowns [4]
PRTH Max Drawdown-45%-55%-46%-30%-61%-29% 
Peers Max Drawdown-36%-50%-33%-26%-52%-33% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: FIS, FISV, GPN, RPAY, FLYW.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/4/2026 (YTD)

How Low Can It Go

EventPRTHS&P 500
2024 Yen Carry Trade Unwind
  % Loss-12.0%-7.8%
  % Gain to Breakeven13.6%8.5%
  Time to Breakeven11 days18 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-29.0%-9.5%
  % Gain to Breakeven40.9%10.5%
  Time to Breakeven8 days24 days
2023 SVB Regional Banking Crisis
  % Loss-31.3%-6.7%
  % Gain to Breakeven45.5%7.1%
  Time to Breakeven90 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-54.8%-24.5%
  % Gain to Breakeven121.2%32.4%
  Time to Breakeven819 days427 days
2020 COVID-19 Crash
  % Loss-34.6%-33.7%
  % Gain to Breakeven52.9%50.9%
  Time to Breakeven46 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-42.3%-19.2%
  % Gain to Breakeven73.3%23.8%
  Time to Breakeven2192 days105 days

Compare to FIS, FISV, GPN, RPAY, FLYW

In The Past

Priority Technology's stock fell -12.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 13.6% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventPRTHS&P 500
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-29.0%-9.5%
  % Gain to Breakeven40.9%10.5%
  Time to Breakeven8 days24 days
2023 SVB Regional Banking Crisis
  % Loss-31.3%-6.7%
  % Gain to Breakeven45.5%7.1%
  Time to Breakeven90 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-54.8%-24.5%
  % Gain to Breakeven121.2%32.4%
  Time to Breakeven819 days427 days
2020 COVID-19 Crash
  % Loss-34.6%-33.7%
  % Gain to Breakeven52.9%50.9%
  Time to Breakeven46 days140 days
Q4 2018 Fed Policy Error / Growth Scare
  % Loss-42.3%-19.2%
  % Gain to Breakeven73.3%23.8%
  Time to Breakeven2192 days105 days

Compare to FIS, FISV, GPN, RPAY, FLYW

In The Past

Priority Technology's stock fell -12.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 13.6% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Priority Technology (PRTH)

Priority Technology Holdings, Inc. (PRTH) is a payment technology company operating in the United States that helps businesses manage critical work functions and enhance revenue performance through its payment processing infrastructure. The company organizes its operations across three primary segments: Small and Medium-Sized Businesses (SMB) Payments, Business-To-Business (B2B) Payments, and Enterprise Payments.

PRTH offers a range of solutions, including the MX product line, which features MX Connect and MX Merchant. These are flexible business applications designed for resellers and merchant clients to manage functions such as retail operations, invoicing, and B2B transactions, including ACH.com. For accounts payable automation, the company provides its CPX platform, which facilitates efficient payment solutions like virtual cards, purchase cards, ACH+, and dynamic discounting.

Beyond its core offerings, Priority Technology also delivers embedded payment and banking solutions to enterprise customers, helping them modernize legacy platforms and enabling software partners to monetize payments. The company further provides curated managed services and integrated accounts payable automation to financial institutions and card networks, alongside consulting and development solutions. Its diverse clientele includes SMBs, large enterprises, and a broad network of distribution partners such as independent sales organizations (ISOs), financial institutions, and independent software vendors (ISVs).

AI Analysis | Feedback

Here are a couple of analogies for Priority Technology (PRTH):

  • Like Square for businesses of all sizes, handling both customer payments and vendor bills.
  • Stripe and Bill.com rolled into one, but tailored for a diverse range of business clients.

AI Analysis | Feedback

  • MX Product Line: A suite of flexible business applications, including MX Connect and MX Merchant, designed to manage critical business functions and revenue performance leveraging core payment processing.
  • CPX Platform (Accounts Payable Automation): A comprehensive platform offering automated accounts payable solutions such as virtual cards, ACH+, and dynamic discounting.
  • Embedded Payment and Banking Solutions: Technologies that enable enterprise customers and software partners to integrate modern payment and banking functionalities directly into their platforms.
  • Managed Services: Curated programs and support solutions, including integrated accounts payable automation, provided to financial institutions, card networks, and other institutional partners.
  • Payment-Adjacent Technologies: Specialized technologies developed to facilitate and streamline the acceptance of electronic payments from customers.
  • Consulting and Development Solutions: Expert services offered to assist clients with implementing, optimizing, and developing custom payment and technology strategies.

AI Analysis | Feedback

Priority Technology Holdings, Inc. (PRTH) sells primarily to other companies. Its major customers are categories of businesses rather than specific named companies. Based on the provided description, PRTH serves the following types of customers:
  • Small and Medium-Sized Businesses (SMBs): These are often referred to as "merchant clients" who utilize PRTH's MX product line for payment processing and business management applications.
  • Enterprises: Larger businesses that are customers for PRTH's embedded payment and banking solutions, aimed at modernizing legacy platforms.
  • Financial Institutions and Card Networks: These partners use PRTH's CPX platform for accounts payable automation solutions and curated managed services.
  • Distribution Partners: This broad category includes various intermediaries such as retail and wholesale Independent Sales Organizations (ISOs) and Independent Software Vendors (ISVs).

AI Analysis | Feedback

  • Visa Inc. (V)
  • Mastercard Incorporated (MA)

AI Analysis | Feedback

Thomas (Tom) Priore - Chairman and Chief Executive Officer

Thomas Priore co-founded Priority in 2005 and has served as the company's Chairman and Chief Executive Officer since 2018. Under his leadership, Priority has grown from a founder-financed technology startup to a significant non-bank merchant acquirer in the U.S. and has transitioned into a solutions provider across payments and banking, serving nearly one million active customers. Prior to Priority, Mr. Priore established ICP Capital, a boutique investment banking firm with over $20 billion in assets under management, and created the structured finance trading and origination arm of Guggenheim Securities. He holds an MBA from Columbia University and a bachelor's degree from Harvard University.

Tim O'Leary - Chief Financial Officer

Tim O'Leary joined Priority in 2022, bringing over 20 years of capital markets and banking experience, primarily focused on the technology sector. Before his role at Priority, he served as managing director and group head of the Technology, Media and Telecom leveraged finance team at Truist Securities, where he was responsible for leading capital raising efforts for numerous fintech and technology companies. Mr. O'Leary earned an MBA from the Kelley School of Business at Indiana University and a bachelor's degree in finance from Northern Arizona University.

Ranjana Ram - Chief Operating Officer

Ranjana Ram joined Priority as Executive Vice President in 2011 and was promoted to Chief Operating Officer in 2022. With more than 20 years of experience in banking and payments, she leads company-wide strategy implementation and operations. Her prior experience includes key roles at Institutional Credit Partners and Credit Suisse, where she focused on financial analysis, investment banking, and structured credit securitizations. Ms. Ram is a graduate of the University of Michigan and holds the Chartered Financial Analyst designation.

Sean Kiewiet - Chief Strategy Officer

Sean Kiewiet is a co-founder of Priority Technology Holdings, Inc.

Stephen Tackett - Executive Vice President and Head of the B2B Division

Stephen Tackett is the Executive Vice President and Head of the B2B division for Priority. He has been involved in payments since 1997 and is credited with pioneering virtual card payments in 2000. Mr. Tackett oversees Priority's CPX e-payables platform and services. His professional background includes 20 years of experience in Product Development, Product Management, and Project Management, including 17 years at WEX. He has also held leadership roles at CompUSA and AOC Solutions.

AI Analysis | Feedback

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Key Risks to Priority Technology (PRTH)

  • High Financial Leverage and Debt Burden: Priority Technology Holdings carries a significant debt load, with net debt around $800 million to over $1 billion. This substantial leverage results in considerable interest expenses, which constrain profitability and limit capital available for organic growth. The company's high debt also makes it particularly sensitive to fluctuations in interest rates. Financial health indicators, such as the Altman Z-Score, have placed the company in a "distress zone," indicating potential financial risk.
  • Regulatory and Compliance Risks: Operating in the payment technology and embedded finance sectors, Priority Technology Holdings is subject to a complex and evolving regulatory environment, including laws like the Bank Secrecy Act, the Dodd-Frank Act, and various consumer protection and data privacy regulations (e.g., CCPA, DORA compliance). Any significant changes in these regulations, heightened enforcement actions, or failures in compliance could lead to substantial fines, operational disruptions, reputational damage, and negatively impact profitability, especially concerning consumer information, card network fees, and interest rates.
  • Intense Competition and Economic Sensitivity: Priority Technology operates in a highly competitive fintech landscape, contending with both established industry giants (e.g., Fiserv, Global Payments) and innovative specialized firms (e.g., Paya, Paysafe, Adyen). This fierce competition can lead to pricing pressures and a continuous demand for technological innovation. Furthermore, the company's business performance, particularly in its Small and Medium-Sized Businesses (SMB) payments segment, is sensitive to macroeconomic factors. A downturn in consumer confidence, spending, or broader economic conditions could directly reduce payment volumes and business spending, thereby impacting PRTH's revenue and growth prospects.
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AI Analysis | Feedback

The accelerating trend of major software platforms and fintech companies providing comprehensive, API-first payment and financial services directly to businesses and software developers.

This development threatens to disintermediate traditional payment processors and their distribution partners (including ISOs, financial institutions, and independent software vendors) by offering highly integrated, seamless, and potentially more cost-effective payment solutions that are embedded directly within existing business software and platforms. This could erode Priority Technology's "leverage point" of core payment processing by allowing businesses to bypass traditional intermediary models and integrate directly with these modern payment ecosystems.

AI Analysis | Feedback

Priority Technology Holdings, Inc. (PRTH) operates in several significant addressable markets, including SMB Payments, Business-To-Business (B2B) Payments, and Enterprise Payments.

SMB Payments

  • Globally, the total addressable market (TAM) for SMB cross-border payments was estimated at $13.8 trillion in 2024, with projections to increase to $21.2 trillion by 2032. Another estimate indicates the global SMB TAM was $14.4 trillion in 2025, expected to rise to $20.7 trillion in 2033.
  • In the U.S., the total merchant acquiring net revenue, which serves SMBs, was approximately $35 billion in 2023. This market is expected to grow at a Compound Annual Growth Rate (CAGR) of approximately 6% from 2023 to 2028.

Business-To-Business (B2B) Payments

  • The global B2B payments market was valued at $125.432 trillion in 2021 and is projected to reach $313.9478 trillion by 2031, with a CAGR of 9.9% from 2022 to 2031.
  • For B2B cross-border payments, the global market size was $31.7 trillion in 2024 and is expected to grow by 51% to $47.8 trillion by 2032. Another report indicates a global B2B cross-border payments market size of $34.8 trillion in 2025, forecasted to grow by 47% to $51.2 trillion in 2033.
  • In the U.S., the B2B payments transaction market size is estimated at $510 billion in 2025 and is predicted to reach approximately $1,246 billion by 2035, growing at a CAGR of 9.34% from 2026 to 2035. Other estimates for the U.S. B2B payments market include $451.0 billion in 2025, growing to $873.6 billion by 2034 with a CAGR of 7.39%, and reaching $1,160 billion by 2034, up from $462 billion in 2025, at a CAGR of 9.69%. The total addressable market for commercial payments in the U.S., excluding wire transfers, was identified as approximately $175 trillion.

Enterprise Payments (Embedded Finance/Payments)

  • The global total addressable market (TAM) for embedded finance reached US$185 billion in 2024, marking a 25% increase from 2022. This market is expected to double by 2030, with an annual growth rate of 10-15%. Payments represent the largest and most mature segment within embedded finance.
  • In the U.S., the market for embedded finance platforms and enablers was estimated at $22 billion in total revenue in 2021 and is projected to more than double to $51 billion by 2026. The U.S. embedded payments market size was valued at USD 24.7 billion in 2024 and is projected to grow at a CAGR of 30.3% from 2025 to 2034, reaching USD 333.7 billion by 2034.

AI Analysis | Feedback

Priority Technology Holdings (PRTH) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:

  1. Strong Growth in Payables Segment: The Payables segment has demonstrated robust organic growth, reporting a 13% increase in Q4 2025, with management projecting continued organic growth between 8% and 10% for 2026. This segment is a significant contributor to the company's overall performance.
  2. Expansion of Treasury Solutions Segment: The Treasury Solutions segment is another key growth area, having achieved an impressive 18% revenue growth in Q4 2025 and an outlook for low double-digit growth in 2026. This includes contributions from Passport and Priority Tech Ventures.
  3. Increasing Customer Accounts and Transaction Volume: Priority Technology is expanding its active customer base, which grew to 1.8 million from 1.2 million in 2025, and increasing its annual transaction volume, which rose by $20 billion to $150 billion in 2025. This demonstrates broader adoption of its "Connected Commerce" platform and services.
  4. Strategic Acquisitions: The company's acquisition of Dealer Merchant Services in October 2025 is anticipated to enhance its offerings within the automotive dealership sector, thereby strengthening the Merchant Solutions segment and contributing to future revenue.
  5. Investment in New Verticals and Early-Stage Growth Opportunities: Priority Technology is strategically investing in early-stage growth opportunities, particularly within Priority Tech Ventures, and targeting new verticals where money movement is critical, such as real estate, healthcare, and Name, Image, and Likeness (NIL) in sports entertainment.

AI Analysis | Feedback

Capital Allocation Decisions for Priority Technology Holdings, Inc. (PRTH)

Share Repurchases

  • On June 23, 2025, Priority Technology's Board of Directors authorized a new $40 million share repurchase program for the company's outstanding stock.
  • Previously, on May 16, 2022, the Board approved a share repurchase program authorizing the company to repurchase up to $10 million worth of its common stock.
  • Both repurchase programs do not have a time limit and can be suspended, amended, or discontinued at any time.

Share Issuance

  • The company's public float increased due to share issuance for acquisitions, equity exchange, and a secondary offering around Q3/2025.
  • Approximately 10 million shares were sold in a secondary offering, primarily by Ares Management, John Priore, and Stone Point Capital.
  • By the end of Q3/2025, the number of shares outstanding reached approximately 82 million, with the public float growing from 5 million shares post-SPAC merger to around 29 million shares.

Outbound Investments

  • In October 2025, Priority Technology acquired the assets of Dealer Merchant Services, a leading provider of vertically focused software and payments for automotive dealerships.
  • In 2021, Priority acquired Finxera for $375 million in cash and $50 million in PRTH stock.
  • The company is actively investing in early-stage growth opportunities through its Priority Tech Ventures platform.

Capital Expenditures

  • The average capital expenditure over the past five years, as of September 30, 2025, was $30.85 million.
  • Capital expenditures for the fiscal year ending December 31, 2024, were $41.25 million.
  • Management's strategy aims for capital expenditures to consistently represent approximately 10% of EBITDA.

Better Bets vs. Priority Technology (PRTH)

Peer Outperformance in Systems Software

PRTH has outperformed 72% of its 67 Systems Software peers over 5Y. Among the peers that beat it are FTNT, CVLT and QLYS. Systems Software ranks 12th of 12 industries in Information Technology by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Systems Software constituents that PRTH has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
39%
of 85 industry peers · -27.8% return
3Y
68%
of 74 industry peers · 54.2% return
5Y
72%
of 67 industry peers · 3.2% return
Systems Software peers with revenue growth within 4pp of PRTH's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
Ticker Name Rev Growth 3Y Avg P/E 1Y3Y5Y 5Y Gap
PRTH Priority Technology 12.1% 8.1x -27.8%54.2%3.2%
FTNT Fortinet 14.7% 54.0x 98.3%151.1%144.1% +141pp
CVLT CommVault Systems 15.8% 82.6x -23.8%101.5%62.6% +59pp
QLYS Qualys 10.3% 29.1x 27.2%10.8%43.4% +40pp
GEN Gen Digital 12.8% 17.4x 6.0%60.6%24.7% +22pp
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Information Technology sector, ranked by 5Y. Systems Software is PRTH's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Electronic Manufacturing Services 9 56.1%179.7%288.0% TTMI 806% · FLEX 677% · JBL 408%
Semiconductor Materials & Equipment 27 130.8%66.9%100.2% AEHR 928% · AXTI 528% · KLAC 470%
Technology Distributors 9 30.2%66.3%83.9% CLMB 351% · AVT 164% · SNX 119%
Communications Equipment 36 19.3%79.7%67.7% AAOI 1267% · LITE 890% · ANET 754%
Electronic Components 26 49.9%62.7%60.4% CLS 3241% · BELFA 1279% · COHR 358%
Semiconductors 55 21.1%20.9%18.4% POET 1845% · MU 1312% · NVDA 912%
Technology Hardware, Storage & Peripherals 21 37.2%77.3%16.9% DELL 1079% · STX 992% · SMCI 942%
Internet Services & Infrastructure 6 19.8%40.5%13.7% DOCN 53% · GDDY 35% · VRSN 35%
Electronic Equipment & Instruments 27 -7.3%8.8%-8.2% PI 197% · OSIS 108% · ACFN 98%
IT Consulting & Other Services 28 -23.8%-11.8%-28.6% CHRN 533058% · APLD 1150% · TSSI 665%
Application Software 123 -23.9%-14.3%-46.5% VIDA 199900% · INLX 4861% · PLTR 554%
Systems Software ← 68 -9.9%0.1%-57.6% PAYS 447% · QNC 392% · PANW 327%
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

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Financials

PRTHFISFISVGPNRPAYFLYWMedian
NamePriority.Fidelity.Fiserv Global P.Repay Flywire  
Mkt Price5.5541.8953.0092.543.8818.5530.22
Mkt Cap0.521.628.225.00.32.311.9
Rev LTM1,00012,20120,86610,2313387145,616
Op Inc LTM1382,0364,468990-1140564
FCF LTM1041,9213,92682345154488
FCF 3Y Avg682,3104,3111,7856294940
CFO LTM1282,9765,8311,658113166912
CFO 3Y Avg923,2215,9762,4911201021,306

Growth & Margins

PRTHFISFISVGPNRPAYFLYWMedian
NamePriority.Fidelity.Fiserv Global P.Repay Flywire  
Rev Chg LTM8.9%18.3%-1.2%32.5%8.8%32.2%13.6%
Rev Chg 3Y Avg12.1%8.0%4.3%6.0%5.2%27.2%7.0%
Rev Chg Q9.4%29.1%-4.1%68.6%33.2%27.2%28.1%
QoQ Delta Rev Chg LTM2.3%6.7%-1.1%15.2%8.0%5.3%6.0%
Op Inc Chg LTM-3.2%14.7%-29.6%-40.4%-60.2%691.4%-16.4%
Op Inc Chg 3Y Avg28.8%12.9%5.5%-13.0%16.6%283.7%14.8%
Op Mgn LTM13.8%16.7%21.4%9.7%-3.1%5.6%11.7%
Op Mgn 3Y Avg14.1%16.8%26.2%17.9%-3.2%0.7%15.5%
QoQ Delta Op Mgn LTM-0.8%-0.2%-3.0%-2.5%-0.4%0.7%-0.6%
CFO/Rev LTM12.8%24.4%27.9%16.2%33.3%23.3%23.8%
CFO/Rev 3Y Avg10.0%30.2%29.0%31.7%38.0%17.0%29.6%
FCF/Rev LTM10.4%15.7%18.8%8.0%13.3%21.5%14.5%
FCF/Rev 3Y Avg7.4%21.8%20.9%23.1%19.8%15.5%20.3%

Valuation

PRTHFISFISVGPNRPAYFLYWMedian
NamePriority.Fidelity.Fiserv Global P.Repay Flywire  
Mkt Cap0.521.628.225.00.32.311.9
P/S0.51.81.42.41.03.21.6
P/Op Inc3.310.66.325.2-30.656.38.5
P/EBIT3.311.05.817.5-2.052.58.4
P/E8.16.410.1-26.7-1.966.77.2
P/CFO3.57.34.815.12.913.76.1
Total Yield12.4%19.6%9.9%-2.7%-51.8%1.5%5.7%
Dividend Yield0.0%4.0%0.0%1.0%0.0%0.0%0.0%
FCF Yield 3Y Avg13.3%7.2%8.3%8.4%12.9%5.1%8.4%
D/E2.31.01.00.92.40.01.0
Net D/E2.00.91.00.72.1-0.11.0

Returns

PRTHFISFISVGPNRPAYFLYWMedian
NamePriority.Fidelity.Fiserv Global P.Repay Flywire  
1M Rtn3.2%-2.1%-2.1%5.5%-2.8%1.9%-0.1%
3M Rtn-4.6%3.5%-2.6%40.1%11.8%28.8%7.6%
6M Rtn-1.2%-17.0%-16.0%22.0%32.0%39.7%10.4%
12M Rtn-27.8%-37.1%-60.8%6.8%-34.0%42.8%-30.9%
3Y Rtn54.2%-18.0%-56.7%-25.0%-56.4%-43.7%-34.3%
1M Excs Rtn3.0%-2.3%-2.2%5.4%-2.9%1.8%-0.2%
3M Excs Rtn-9.2%-1.1%-7.2%35.5%7.3%24.3%3.1%
6M Excs Rtn-15.8%-31.5%-30.5%7.5%17.5%25.2%-4.1%
12M Excs Rtn-48.2%-55.8%-79.8%-11.3%-50.5%23.4%-49.4%
3Y Excs Rtn-14.6%-90.4%-127.7%-95.8%-128.7%-116.0%-105.9%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Merchant Solutions642614583562476
Treasury Solutions2161801328322
Payables10189411917
Intersegment revenues-6-3-10 
Total953880756664515


Operating Income by Segment
$ Mil20232022202120202019
Treasury Solutions743172 
Merchant Solutions46555338 
Payables-3001 
Corporate-36-30-27-20-25
Commercial Payments    -1
Consumer Payments    32
Integrated Partners    1
Total825633217


Assets by Segment
$ Mil20202019201820172016
Consumer Payments262274267  
Commercial Payments8145   
Corporate717150  
Integrated Partners474   
Commercial Payments and Managed Services  72  
Single segment   5555
Total4184653895555


Price Behavior

Price Behavior
Market Price$5.55 
Market Cap ($ Bil)0.5 
First Trading Date12/06/2016 
Distance from 52W High-28.5% 
   50 Days200 Days
DMA Price$6.24$5.76
DMA Trenddowndown
Distance from DMA-11.1%-3.7%
 3M1YR
Volatility62.3%58.7%
Downside Capture147.73218.32
Upside Capture96.85134.85
Correlation (SPY)15.8%35.1%
PRTH Betas & Captures as of 8/31/2026

 1M2M3M6M1Y3Y
Beta1.411.040.830.981.591.58
Up Beta1.27-0.090.000.351.271.55
Down Beta-9.99-1.880.030.631.621.60
Up Capture87%91%100%119%142%398%
Bmk +ve Days10213268138427
Stock +ve Days8183168123375
Down Capture621%357%182%146%159%110%
Bmk -ve Days11213259113324
Stock -ve Days13243358120348

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with PRTH
PRTH-29.6%58.7%-0.35-
Sector ETF (XLK)43.4%26.2%1.3423.9%
Equity (SPY)19.7%12.8%1.1335.0%
Gold (GLD)24.6%29.2%0.753.6%
Commodities (DBC)43.8%20.3%1.67-13.8%
Real Estate (VNQ)9.1%13.6%0.3922.6%
Bitcoin (BTCUSD)-28.1%43.8%-0.6320.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with PRTH
PRTH-2.9%74.7%0.28-
Sector ETF (XLK)19.7%25.9%0.6824.9%
Equity (SPY)12.8%17.2%0.5728.9%
Gold (GLD)19.1%18.8%0.821.1%
Commodities (DBC)10.7%19.5%0.430.8%
Real Estate (VNQ)1.7%18.9%-0.0121.3%
Bitcoin (BTCUSD)10.2%52.6%0.3814.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with PRTH
PRTH-1.8%80.9%0.33-
Sector ETF (XLK)24.4%25.0%0.8827.6%
Equity (SPY)15.3%17.9%0.7231.3%
Gold (GLD)12.4%16.3%0.62-0.5%
Commodities (DBC)7.9%18.1%0.357.9%
Real Estate (VNQ)4.8%20.7%0.1927.5%
Bitcoin (BTCUSD)63.7%66.2%1.0311.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date8142026
Short Interest: Shares Quantity2.1 Mil
Short Interest: % Change Since 73120260.2%
Average Daily Volume0.7 Mil
Days-to-Cover Short Interest3.1 days
Basic Shares Quantity81.5 Mil
Short % of Basic Shares2.6%

Earnings Returns History

Updated 9/6/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/6/2026-19.2%-22.2%-18.6%
5/11/20265.7%4.1%7.8%
3/10/20260.6%-5.8%-7.2%
11/6/2025-30.1%-16.7%-18.7%
8/7/20259.6%16.9%13.1%
5/6/2025-8.9%-3.8%11.2%
3/6/2025-14.6%-16.6%-25.7%
1/15/2025-15.8%-1.0%16.3%
...
SUMMARY STATS   
# Positive141112
# Negative111413
Median Positive1.5%9.3%14.7%
Median Negative-7.1%-5.3%-9.7%
Max Positive19.0%27.0%75.1%
Max Negative-30.1%-22.2%-25.7%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/6/2026-19.2%-22.2%-18.6%
5/11/20265.7%4.1%7.8%
3/10/20260.6%-5.8%-7.2%
11/6/2025-30.1%-16.7%-18.7%
8/7/20259.6%16.9%13.1%
5/6/2025-8.9%-3.8%11.2%
3/6/2025-14.6%-16.6%-25.7%
1/15/2025-15.8%-1.0%16.3%
11/7/2024-0.2%27.0%44.7%
8/8/20240.0%-6.1%2.0%
5/9/20241.7%-1.1%27.9%
3/12/20240.0%3.2%-0.8%
11/9/2023-5.5%18.5%-9.7%
8/10/20230.0%3.2%-13.0%
5/11/20230.0%-3.0%6.8%
3/23/20231.8%-2.3%-7.0%
11/10/202219.0%9.3%28.8%
8/9/2022-1.6%-2.2%-18.8%
5/11/2022-7.1%3.6%4.9%
3/16/20225.5%5.7%-1.7%
11/15/2021-2.1%-6.5%-9.6%
8/9/2021-0.7%-4.9%-4.1%
5/13/20215.1%10.2%27.2%
3/17/20211.2%-8.1%-18.4%
11/13/20201.2%18.0%75.1%
SUMMARY STATS   
# Positive141112
# Negative111413
Median Positive1.5%9.3%14.7%
Median Negative-7.1%-5.3%-9.7%
Max Positive19.0%27.0%75.1%
Max Negative-30.1%-22.2%-25.7%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/06/202610-Q
03/31/202605/11/202610-Q
12/31/202503/10/202610-K
09/30/202511/06/202510-Q
06/30/202508/07/202510-Q
03/31/202505/06/202510-Q
12/31/202403/06/202510-K
09/30/202411/07/202410-Q
06/30/202408/08/202410-Q
03/31/202405/09/202410-Q
12/31/202303/12/202410-K
09/30/202311/09/202310-Q
06/30/202308/10/202310-Q
03/31/202305/11/202310-Q
12/31/202203/23/202310-K
09/30/202211/10/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/06/202610-Q
03/31/202605/11/202610-Q
12/31/202503/10/202610-K
09/30/202511/06/202510-Q
06/30/202508/07/202510-Q
03/31/202505/06/202510-Q
12/31/202403/06/202510-K
09/30/202411/07/202410-Q
06/30/202408/08/202410-Q
03/31/202405/09/202410-Q
12/31/202303/12/202410-K
09/30/202311/09/202310-Q
06/30/202308/10/202310-Q
03/31/202305/11/202310-Q
12/31/202203/23/202310-K
09/30/202211/10/202210-Q
06/30/202208/09/202210-Q
03/31/202205/11/202210-Q
12/31/202103/17/202210-K
09/30/202111/15/202110-Q
06/30/202108/16/202110-Q
03/31/202105/14/202110-Q
12/31/202003/31/202110-K
09/30/202011/13/202010-Q
06/30/202008/14/202010-Q
03/31/202005/13/202010-Q
12/31/201903/30/202010-K
09/30/201911/14/201910-Q

Recent Forward Guidance

Updated 8/7/2026

Latest: Q2 2026 Earnings Reported 8/6/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 RevenueReported1.01 Bil1.02 Bil1.04 Bil0 AffirmedGuidance: 1.02 Bil for 2026
2026 Revenue GrowthReported6.0%7.5%9.0% 0AffirmedGuidance: 7.5% for 2026
2026 Adjusted Gross ProfitReported405.00 Mil415.00 Mil425.00 Mil0 AffirmedGuidance: 415.00 Mil for 2026
2026 Adjusted EBITDAReported230.00 Mil237.50 Mil245.00 Mil0 AffirmedGuidance: 237.50 Mil for 2026

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Insider Activity

Updated 7/23/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Favilla, Christina M DirectSell72320266.671,2298,197911,075Form
2Passilla, Michael DirectSell72320266.671,1687,791916,832Form
3Davis, Marietta DirectSell72320266.671,1687,791578,129Form
4Kumar, RajivChief Accounting OfficerDirectSell12920268.0010,00080,000368,592Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Favilla, Christina M DirectSell72320266.671,2298,197911,075Form
2Passilla, Michael DirectSell72320266.671,1687,791916,832Form
3Davis, Marietta DirectSell72320266.671,1687,791578,129Form
4Kumar, RajivChief Accounting OfficerDirectSell12920268.0010,00080,000368,592Form
Core Cache Last Updated: 9/5/2026