• Stripe for comprehensive business payment solutions.
• Fiserv for mid-market and B2B payment processing.

• Consumer Payment Processing: Provides merchant acquiring and payment processing services, enabling businesses to accept various forms of electronic payments from consumers in-person, online, and via mobile.
• Business-to-Business (B2B) Payments: Offers solutions for businesses to automate their accounts payable and receivable processes, facilitating electronic payments between businesses including virtual card programs and invoice processing.
• Integrated Payments for Software Partners: Delivers payment technology and APIs that allow independent software vendors (ISVs) and other partners to embed payment processing directly into their business management applications.

Priority Technology (symbol: PRTH) primarily sells its payment processing and financial technology solutions to other businesses (B2B).

Due to the nature of its business, which involves serving a broad and diverse base of merchants and operating through various partner channels, Priority Technology does not publicly disclose the names of specific "major customers" (i.e., individual named companies that account for a significant portion of its revenue) in its SEC filings or investor materials. Therefore, a list of specific customer companies and their stock symbols cannot be provided.

Instead, PRTH's customer base can be broadly categorized as follows:

• Small, Medium, and Large Businesses (Merchants): These are the direct end-users of PRTH's payment processing and business management solutions. They span various industries, including retail, healthcare, hospitality, professional services, and business-to-business (B2B) enterprises. PRTH provides services directly to these companies to enable them to accept various forms of payment.
• Independent Sales Organizations (ISOs) and Agents: These are third-party organizations and individuals who partner with PRTH to resell its payment processing services to their own merchant clients. They serve as a significant channel for customer acquisition for PRTH.
• Independent Software Vendors (ISVs) and Financial Institutions: PRTH partners with ISVs (developers of business management software, point-of-sale systems, etc.) and financial institutions (banks, credit unions) to integrate its payment processing capabilities into their platforms. These partners then offer the integrated solutions to their own customer bases, effectively extending PRTH's reach.

• Visa Inc. (V)
• Mastercard Incorporated (MA)
• Discover Financial Services (DFS)
• American Express Company (AXP)

Thomas Priore, Chairman of the Board and Chief Executive Officer

Thomas Priore co-founded Priority Technology Holdings in 2005 and has served as its Chairman and Chief Executive Officer since 2018. Prior to fully committing to Priority, he founded ICP Capital (later Triaxx Asset Management LLC), a boutique investment banking firm that grew to manage over $20 billion in assets in structured finance. His financial career started at PaineWebber, where he ascended to Vice President of the Fixed Income Sales and Trading department, and he later established the Structured Finance Trading and Origination business at Guggenheim Securities. In 2015, Triaxx Holdco LLC acquired 100% of ICP Asset Management LLC. Priore, who holds approximately 58% of Priority's common stock, recently led an investor group in a non-binding proposal to acquire the remaining shares of the company. He earned degrees from Harvard University and an MBA from Columbia University.

Timothy M. O'Leary, Chief Financial Officer

Timothy O'Leary was appointed Chief Financial Officer of Priority Technology Holdings in September 2022. He brings over 20 years of experience in capital markets and banking, with a primary focus on the technology sector. Before joining Priority, Mr. O'Leary 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 financings for various payment and technology companies, including Priority itself. He holds an MBA from the Kelley School of Business at Indiana University and a B.A. in Business Administration from Northern Arizona University. Mr. O'Leary recently made a significant investment in the company's stock, purchasing 10,000 shares.

Ranjana Ram, Chief Operating Officer

Ranjana Ram joined Priority as an Executive Vice President in 2011 and was promoted to Chief Operating Officer in 2022.

Sean Kiewiet, Chief Strategy Officer

Sean Kiewiet transitioned to the newly created position of Chief Strategy Officer in October 2021, having previously served as the Chief Technology Officer for Priority. His expertise in payments and strategic vision are considered vital for driving innovation and growth initiatives within the company.

Yi Sun, Chief Technology Officer

Yi Sun serves as the Chief Technology Officer for Priority Technology Holdings.

The key risks to Priority Technology (PRTH) are primarily financial leverage, sensitivity to macroeconomic conditions, and the combined pressures of a highly regulated and competitive industry.

1. Elevated Debt Burden: Priority Technology carries a significant amount of debt, estimated between $800 million and $1 billion. This substantial debt burden results in considerable interest expenses that can constrain the company's profitability. Furthermore, PRTH has negative shareholder equity, a more severe financial position than simply having high debt, and its debt is not adequately covered by operating cash flow or earnings before interest and taxes (EBIT). Any delays in debt reduction or unfavorable market conditions could intensify these financial challenges.
2. Macroeconomic Sensitivity: As a fintech company specializing in payment and banking solutions, Priority Technology's business performance is highly susceptible to broader macroeconomic trends. A downturn in small-business spending, a recession, or general economic weakness in retail and services sectors could directly reduce transaction volumes, thereby negatively impacting PRTH's revenue and overall profitability. Fluctuations in consumer spending and interest rate changes also pose a significant risk.
3. Regulatory and Competitive Pressures: Operating in the payments industry, Priority Technology is continuously exposed to evolving regulatory changes and adjustments in network fees. Any major alterations in card fees, banking regulations, or fintech licensing requirements could adversely affect the company's profit margins. Simultaneously, the fintech landscape is intensely competitive, with numerous established financial institutions and agile startups vying for market share. This fierce competition can lead to pricing pressures and make it challenging for PRTH to maintain or expand its customer base against larger, more resourced competitors.

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

1. Expansion of High-Margin Payables and Treasury Solutions Segments: Priority Technology is anticipating continued strong double-digit revenue growth in its Payables and Treasury Solutions segments. These segments are highlighted as high-margin areas that are significantly contributing to overall performance and margin expansion.
2. Strategic Acquisitions and Integration: The company actively pursues and integrates acquisitions to supplement organic growth and expand its capabilities and market reach. Notable examples include the acquisition of Plastiq, which has enhanced B2B capabilities and contributed to financial results, as well as recent acquisitions of Boom Commerce and Dealer Merchant Services that are expanding segment capabilities.
3. Enhancement and Expansion of the Unified Commerce Platform: Priority Technology's "Unified Commerce Engine" (also referred to as the Priority Commerce Engine or platform) is a core driver, designed to streamline financial activities such as collecting, storing, lending, and sending money. The continuous improvement and expansion of this platform support further business growth and service enhancement, enabling the company to expand vertically by adding functionality without extensive retooling.
4. Organic Growth in the Merchant Solutions Segment: While facing some macroeconomic headwinds, Priority Technology's Merchant Solutions segment (formerly SMB Payments) is still projected to achieve mid-single-digit organic revenue growth. This growth is expected to come from capitalizing on the organic growth of existing merchant volume and expanding through its reseller network and merchant base.
5. New Market Entry and Operational Initiatives: Priority Technology is expanding its operational footprint and market reach through specific initiatives. Key operational wins include the launch of a residual financing facility and the activation of card acquiring services in Canada. The company is also investing in new verticals such as sports management, payroll/HR tech, and real estate, where its integrated payments and banking solutions can drive efficiencies.

Share Repurchases

• Priority Technology authorized a new $40 million share repurchase program on June 23, 2025.
• In 2022, the company repurchased 1,309,374 shares for a total investment of $5.791 million, at an average price of $4.42 per share.
• Quarterly share repurchase activity included $5.67 million in March 2024 and $1.47 million in March 2025.

Capital Expenditures

• Priority Technology reported capital expenditures of approximately -$66.64 million in the last 12 months as of November 8, 2025.
• These capital expenditures contribute to supporting its payments and banking fintech solutions.
• The company's strategic initiatives include focusing on high-margin segments and cloud infrastructure migration, which likely represent primary areas for capital expenditures.