Priority Technology (PRTH)
Market Price (5/20/2026): $5.75 | Market Cap: $467.9 MilSector: Consumer Staples | Industry: Tobacco
Priority Technology (PRTH)
Market Price (5/20/2026): $5.75Market Cap: $467.9 MilSector: Consumer StaplesIndustry: Tobacco
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal 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 19% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12% Megatrend and thematic driversMegatrends include Fintech & Digital Payments, and E-commerce & Digital Retail. Themes include Digital Payments, Online Marketplaces, Show more. | Weak multi-year price returns3Y Excs Rtn is -19% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 204% Key risksPRTH key risks include [1] a significant debt burden with negative shareholder equity, Show more. |
| Attractive yieldTotal 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 19% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments, and E-commerce & Digital Retail. Themes include Digital Payments, Online Marketplaces, Show more. |
| Weak multi-year price returns3Y Excs Rtn is -19% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 204% |
| Key risksPRTH key risks include [1] a significant debt burden with negative shareholder equity, Show more. |
Qualitative Assessment
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Priority Technology (PRTH) stock has lost about 5% since 1/31/2026 because of the following key factors:
1. Mixed Recent Earnings Performance. The stock's relatively stable trend can be attributed to the market's digestion of mixed earnings signals during the period. Priority Technology Holdings reported strong first-quarter 2026 results on May 11, 2026, with Non-GAAP earnings per share (EPS) of $0.28, surpassing expectations by $0.07, and revenue of $249.6 million, exceeding forecasts by $6.23 million, marking an 11.1% year-over-year increase. However, the preceding fourth-quarter 2025 results, reported on March 9, 2026, missed EPS expectations by 5.46% and revenue expectations by 2.31%. This earlier miss likely tempered significant upward momentum in the period leading up to the strong Q1 announcement.
2. Balancing Strong Operational Growth with Persistent Financial Health Concerns. Despite demonstrating robust operational growth, the company's stock movement was contained by ongoing concerns regarding its financial health. In Q1 2026, Priority Technology achieved an 11.1% year-over-year revenue growth and a 13.2% increase in adjusted gross profit, driven by significant growth in its high-margin Payables (up 35.6%) and Treasury Solutions (up 17.5%) segments. The company also improved its net leverage ratio to 4.00x. Conversely, Priority Technology maintains a substantial total debt of approximately $1.06 billion and carries a "poor" financial strength rating with an Altman Z-score of 0.7, indicating potential distress. This dichotomy of strong performance in key business segments against a backdrop of elevated debt and financial health concerns created a neutralizing effect on the stock price.
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1. Mixed Recent Earnings Performance. The stock's relatively stable trend can be attributed to the market's digestion of mixed earnings signals during the period. Priority Technology Holdings reported strong first-quarter 2026 results on May 11, 2026, with Non-GAAP earnings per share (EPS) of $0.28, surpassing expectations by $0.07, and revenue of $249.6 million, exceeding forecasts by $6.23 million, marking an 11.1% year-over-year increase. However, the preceding fourth-quarter 2025 results, reported on March 9, 2026, missed EPS expectations by 5.46% and revenue expectations by 2.31%. This earlier miss likely tempered significant upward momentum in the period leading up to the strong Q1 announcement.
2. Balancing Strong Operational Growth with Persistent Financial Health Concerns. Despite demonstrating robust operational growth, the company's stock movement was contained by ongoing concerns regarding its financial health. In Q1 2026, Priority Technology achieved an 11.1% year-over-year revenue growth and a 13.2% increase in adjusted gross profit, driven by significant growth in its high-margin Payables (up 35.6%) and Treasury Solutions (up 17.5%) segments. The company also improved its net leverage ratio to 4.00x. Conversely, Priority Technology maintains a substantial total debt of approximately $1.06 billion and carries a "poor" financial strength rating with an Altman Z-score of 0.7, indicating potential distress. This dichotomy of strong performance in key business segments against a backdrop of elevated debt and financial health concerns created a neutralizing effect on the stock price.
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Stock Movement Drivers
Fundamental Drivers
The -2.7% change in PRTH stock from 1/31/2026 to 5/19/2026 was primarily driven by a -5.9% change in the company's P/E Multiple.| (LTM values as of) | 1312026 | 5192026 | Change |
|---|---|---|---|
| Stock Price ($) | 5.91 | 5.75 | -2.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 933 | 978 | 4.8% |
| Net Income Margin (%) | 5.9% | 5.8% | -0.1% |
| P/E Multiple | 8.7 | 8.2 | -5.9% |
| Shares Outstanding (Mil) | 80 | 81 | -1.3% |
| Cumulative Contribution | -2.7% |
Market Drivers
1/31/2026 to 5/19/2026| Return | Correlation | |
|---|---|---|
| PRTH | -2.7% | |
| Market (SPY) | 6.3% | 46.4% |
| Sector (XLP) | 3.7% | 4.8% |
Fundamental Drivers
The -17.4% change in PRTH stock from 10/31/2025 to 5/19/2026 was primarily driven by a -44.0% change in the company's P/E Multiple.| (LTM values as of) | 10312025 | 5192026 | Change |
|---|---|---|---|
| Stock Price ($) | 6.96 | 5.75 | -17.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 919 | 978 | 6.5% |
| Net Income Margin (%) | 4.1% | 5.8% | 42.8% |
| P/E Multiple | 14.6 | 8.2 | -44.0% |
| Shares Outstanding (Mil) | 79 | 81 | -2.9% |
| Cumulative Contribution | -17.4% |
Market Drivers
10/31/2025 to 5/19/2026| Return | Correlation | |
|---|---|---|
| PRTH | -17.4% | |
| Market (SPY) | 8.2% | 43.6% |
| Sector (XLP) | 14.4% | 6.4% |
Fundamental Drivers
The -20.8% change in PRTH stock from 4/30/2025 to 5/19/2026 was primarily driven by a -65.4% change in the company's P/E Multiple.| (LTM values as of) | 4302025 | 5192026 | Change |
|---|---|---|---|
| Stock Price ($) | 7.26 | 5.75 | -20.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 880 | 978 | 11.2% |
| Net Income Margin (%) | 2.7% | 5.8% | 114.2% |
| P/E Multiple | 23.7 | 8.2 | -65.4% |
| Shares Outstanding (Mil) | 78 | 81 | -3.8% |
| Cumulative Contribution | -20.8% |
Market Drivers
4/30/2025 to 5/19/2026| Return | Correlation | |
|---|---|---|
| PRTH | -20.8% | |
| Market (SPY) | 33.8% | 41.8% |
| Sector (XLP) | 8.1% | 10.2% |
Fundamental Drivers
The 79.1% change in PRTH stock from 4/30/2023 to 5/19/2026 was primarily driven by a 47.4% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 4302023 | 5192026 | Change |
|---|---|---|---|
| Stock Price ($) | 3.21 | 5.75 | 79.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 664 | 978 | 47.4% |
| P/S Multiple | 0.4 | 0.5 | 27.2% |
| Shares Outstanding (Mil) | 78 | 81 | -4.4% |
| Cumulative Contribution | 79.1% |
Market Drivers
4/30/2023 to 5/19/2026| Return | Correlation | |
|---|---|---|
| PRTH | 79.1% | |
| Market (SPY) | 83.3% | 34.2% |
| Sector (XLP) | 20.6% | 8.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| PRTH Return | 1% | -26% | -32% | 230% | -54% | 9% | -15% |
| Peers Return | -18% | -31% | 11% | 12% | -39% | -10% | -62% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 8% | 97% |
Monthly Win Rates [3] | |||||||
| PRTH Win Rate | 58% | 50% | 42% | 58% | 42% | 60% | |
| Peers Win Rate | 42% | 40% | 57% | 50% | 43% | 24% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| PRTH Max Drawdown | -45% | -55% | -46% | -30% | -61% | -23% | |
| Peers Max Drawdown | -36% | -50% | -33% | -26% | -52% | -30% | |
| 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 5/19/2026 (YTD)
How Low Can It Go
| Event | PRTH | S&P 500 |
|---|---|---|
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -12.0% | -7.8% |
| % Gain to Breakeven | 13.6% | 8.5% |
| Time to Breakeven | 11 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -29.0% | -9.5% |
| % Gain to Breakeven | 40.9% | 10.5% |
| Time to Breakeven | 8 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -31.3% | -6.7% |
| % Gain to Breakeven | 45.5% | 7.1% |
| Time to Breakeven | 90 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -54.8% | -24.5% |
| % Gain to Breakeven | 121.2% | 32.4% |
| Time to Breakeven | 819 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -34.6% | -33.7% |
| % Gain to Breakeven | 52.9% | 50.9% |
| Time to Breakeven | 46 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -42.3% | -19.2% |
| % Gain to Breakeven | 73.3% | 23.8% |
| Time to Breakeven | 2192 days | 105 days |
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.
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Asset Allocation
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| Event | PRTH | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -29.0% | -9.5% |
| % Gain to Breakeven | 40.9% | 10.5% |
| Time to Breakeven | 8 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -31.3% | -6.7% |
| % Gain to Breakeven | 45.5% | 7.1% |
| Time to Breakeven | 90 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -54.8% | -24.5% |
| % Gain to Breakeven | 121.2% | 32.4% |
| Time to Breakeven | 819 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -34.6% | -33.7% |
| % Gain to Breakeven | 52.9% | 50.9% |
| Time to Breakeven | 46 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -42.3% | -19.2% |
| % Gain to Breakeven | 73.3% | 23.8% |
| Time to Breakeven | 2192 days | 105 days |
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. operates as a payment technology company in the United States. It operates through three segments: Small and Medium-Sized Businesses (SMB) Payments, Business-To-Business Payments, and Enterprise Payments. The company offers MX product line, including MX Connect and MX Merchant products, such as MX Insights, MX Storefront, MX Retail, MX Invoice, MX B2B and ACH.com, and others, which provides flexible and customizable set of business applications that helps to manage critical business work functions and revenue performance to resellers and merchant clients using core payment processing as our leverage point. It also offers CPX, a platform that offers accounts payable automation solutions, including virtual card, purchase card, ACH +, dynamic discounting, or check. In addition, the company provides curated managed services and a suite of integrated accounts payable automation solutions to various financial institutions and card networks; and payment-adjacent technologies to facilitate the acceptance of electronic payments from customers. Further, it offers embedded payment and banking solutions to enterprise customers to modernize legacy platforms and accelerate software partners' strategies to monetize payments; and managed services solutions that provide audience-specific programs for institutional partners and other third parties; and consulting and development solutions. The company serves SMB, and enterprises, as well as distribution partners, including retail and wholesale independent sales organizations, financial institutions, and independent software vendors. Priority Technology Holdings, Inc. was founded in 2005 and is headquartered in Alpharetta, Georgia.
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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.
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- 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.
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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).
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- Visa Inc. (V)
- Mastercard Incorporated (MA)
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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.
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```htmlKey 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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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.
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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.
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Priority Technology Holdings (PRTH) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market trends:
- 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.
- 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.
- 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.
- 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.
- 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.
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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.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Priority Technology Earnings Notes | 12/16/2025 | |
| How Low Can Priority Technology Stock Really Go? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 29.66 |
| Mkt Cap | 10.2 |
| Rev LTM | 4,922 |
| Op Inc LTM | 611 |
| FCF LTM | 607 |
| FCF 3Y Avg | 930 |
| CFO LTM | 989 |
| CFO 3Y Avg | 1,286 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 10.5% |
| Rev Chg 3Y Avg | 4.1% |
| Rev Chg Q | 20.6% |
| QoQ Delta Rev Chg LTM | 4.9% |
| Op Inc Chg LTM | 4.1% |
| Op Inc Chg 3Y Avg | 22.5% |
| Op Mgn LTM | 13.4% |
| Op Mgn 3Y Avg | 15.4% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 25.6% |
| CFO/Rev 3Y Avg | 29.5% |
| FCF/Rev LTM | 15.4% |
| FCF/Rev 3Y Avg | 19.3% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 10.2 |
| P/S | 1.7 |
| P/Op Inc | 8.7 |
| P/EBIT | 8.9 |
| P/E | 8.3 |
| P/CFO | 6.1 |
| Total Yield | 6.1% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 7.1% |
| D/E | 1.1 |
| Net D/E | 1.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -8.2% |
| 3M Rtn | 1.1% |
| 6M Rtn | -1.0% |
| 12M Rtn | -20.6% |
| 3Y Rtn | -40.1% |
| 1M Excs Rtn | -11.8% |
| 3M Excs Rtn | -10.2% |
| 6M Excs Rtn | -15.0% |
| 12M Excs Rtn | -43.4% |
| 3Y Excs Rtn | -117.4% |
Price Behavior
Price Behavior
| Market Price | $5.75 | |
| Market Cap ($ Bil) | 0.5 | |
| First Trading Date | 12/06/2016 | |
| Distance from 52W High | -33.7% | |
| 50 Days | 200 Days | |
| DMA Price | $5.18 | $6.11 |
| DMA Trend | down | down |
| Distance from DMA | 11.0% | -5.9% |
| 3M | 1YR | |
| Volatility | 43.4% | 56.6% |
| Downside Capture | 169.64 | 248.13 |
| Upside Capture | 139.52 | 149.24 |
| Correlation (SPY) | 39.3% | 39.8% |
PRTH Betas & Captures as of 4/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.36 | 1.17 | 1.44 | 2.18 | 2.02 | 1.62 |
| Up Beta | 0.71 | 0.79 | 0.83 | 1.98 | 2.16 | 1.58 |
| Down Beta | -2.13 | 0.30 | 0.63 | 1.75 | 2.19 | 1.69 |
| Up Capture | 153% | 126% | 172% | 244% | 172% | 445% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 14 | 24 | 32 | 60 | 123 | 377 |
| Down Capture | 524% | 177% | 199% | 215% | 174% | 110% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 8 | 18 | 28 | 58 | 119 | 343 |
[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 | -29.9% | 55.8% | -0.42 | - |
| Sector ETF (XLP) | 7.8% | 12.4% | 0.33 | 12.1% |
| Equity (SPY) | 25.0% | 12.1% | 1.55 | 42.0% |
| Gold (GLD) | 40.0% | 26.8% | 1.23 | 2.3% |
| Commodities (DBC) | 49.4% | 18.5% | 2.03 | -4.8% |
| Real Estate (VNQ) | 9.7% | 13.4% | 0.45 | 23.1% |
| Bitcoin (BTCUSD) | -25.6% | 41.9% | -0.59 | 23.1% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PRTH | |
|---|---|---|---|---|
| PRTH | -3.3% | 74.9% | 0.28 | - |
| Sector ETF (XLP) | 7.1% | 13.2% | 0.32 | 10.1% |
| Equity (SPY) | 14.2% | 17.0% | 0.65 | 28.4% |
| Gold (GLD) | 19.3% | 18.0% | 0.87 | 0.9% |
| Commodities (DBC) | 11.0% | 19.4% | 0.45 | 3.8% |
| Real Estate (VNQ) | 4.0% | 18.8% | 0.11 | 20.3% |
| Bitcoin (BTCUSD) | 9.4% | 55.6% | 0.38 | 13.8% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PRTH | |
|---|---|---|---|---|
| PRTH | -1.4% | 81.6% | 0.34 | - |
| Sector ETF (XLP) | 7.6% | 14.7% | 0.38 | 17.6% |
| Equity (SPY) | 15.3% | 17.9% | 0.73 | 31.6% |
| Gold (GLD) | 13.0% | 16.0% | 0.67 | -0.7% |
| Commodities (DBC) | 8.4% | 17.9% | 0.38 | 9.5% |
| Real Estate (VNQ) | 5.1% | 20.7% | 0.21 | 27.5% |
| Bitcoin (BTCUSD) | 67.2% | 66.9% | 1.06 | 11.8% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 3/10/2026 | 0.6% | -5.8% | -7.2% |
| 11/6/2025 | -30.1% | -16.7% | -18.7% |
| 8/7/2025 | 9.6% | 16.9% | 13.1% |
| 3/6/2025 | -14.6% | -16.6% | -25.7% |
| 11/7/2024 | -0.2% | 27.0% | 44.7% |
| 8/8/2024 | 0.0% | -6.1% | 2.0% |
| 3/12/2024 | 0.0% | 3.2% | -0.8% |
| 11/9/2023 | -5.5% | 18.5% | -9.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 9 | 6 |
| # Negative | 8 | 9 | 12 |
| Median Positive | 1.2% | 9.3% | 36.7% |
| Median Negative | -1.9% | -6.1% | -9.6% |
| Max Positive | 19.0% | 27.0% | 75.1% |
| Max Negative | -30.1% | -16.7% | -25.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/11/2026 | 10-Q |
| 12/31/2025 | 03/10/2026 | 10-K |
| 09/30/2025 | 11/06/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 03/06/2025 | 10-K |
| 09/30/2024 | 11/07/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 05/09/2024 | 10-Q |
| 12/31/2023 | 03/12/2024 | 10-K |
| 09/30/2023 | 11/09/2023 | 10-Q |
| 06/30/2023 | 08/10/2023 | 10-Q |
| 03/31/2023 | 05/11/2023 | 10-Q |
| 12/31/2022 | 03/23/2023 | 10-K |
| 09/30/2022 | 11/10/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Kumar, Rajiv | Chief Accounting Officer | Direct | Sell | 1292026 | 8.00 | 10,000 | 80,000 | 368,592 | Form |
| 2 | Miller, Bradley J | General Counsel and CRO | Direct | Sell | 6132025 | 8.55 | 100,000 | 855,000 | 2,082,951 | Form |
| 3 | Davis, Marietta | Direct | Sell | 5272025 | 7.22 | 9,433 | 68,106 | 542,482 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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