Exhibit 99.1            

Investor and Media Inquiries:
Chris Kettmann

Priority Technology Holdings, Inc. Announces First Quarter 2019 Financial Results

ALPHARETTA, GA - May 13, 2019 -- Priority Technology Holdings, Inc. (NASDAQ: PRTH) (“Priority” or the “Company”), a leading fintech enterprise with strong core payments technology, today announced its first quarter 2019 financial results.


Highlights of the first quarter 2019 financial results as compared with the first quarter of 2018 include:

Consolidated revenue of $100.0 million declined 13.5%. Adjusted consolidated revenue(1), a non-GAAP measure, which excludes the impact of subscription-billing e-commerce merchants, of $96.1 million increased 14.5%.
Total merchant bankcard processing dollar value grew 8.8% to $9.9 billion from $9.1 billion.
Gross profit margin increased 290 basis points from 24.6% to 27.5%. The Company’s non-GAAP gross profit metric represents consolidated revenue less costs of merchant card fees and other costs of services. Adjusted gross profit margin(1), excluding the impact of subscription-billing e-commerce merchants, increased 510 basis points from 21.9% to 27.0%.
Consolidated adjusted EBITDA of $12.5 million decreased $2.8 million. The Company’s non-GAAP Consolidated adjusted EBITDA measure is earnings before interest, taxes, depreciation and amortization (EBITDA), further adjusted for non-cash compensation and certain other expenses considered non-recurring. Consolidated adjusted EBITDA(1), excluding the impact of subscription-billing e-commerce merchants, of $10.8 million increased $5.6 million.
In March 2019, the Company entered into a real estate payments operating partnership with Yapstone, Inc. and acquired assets from them that enables Priority to provide a single platform to meet the needs of all landlord constituents - from integrated enterprise property managers, middle market partners and small/local landlords for rent, dues and storage.

(1) See “Reconciliation of Non-GAAP Financial Measures” at the end of this earnings release for details regarding these measures.

“Priority’s first quarter results continued to reflect positive fundamentals and solid underlying growth, despite the previously discussed suspension in the boarding of subscription-billing e-commerce merchants. Core acquiring remains consistent, with strong merchant boarding trends throughout the quarter, and market adoption of our Commercial Payments platform is accelerating. Our Integrated Partners business group is also gaining significant traction across all verticals, including Hospitality, Healthcare and Real Estate - and most recently fueled by our operating partnership with Yapstone. As we strive to distinguish Priority from traditional merchant service providers by extending our success into software-based transaction technology,” said Tom Priore, Executive Chairman and CEO of Priority.


The following information was filed by Priority Technology Holdings, Inc. (PRTH) on Monday, May 13, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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