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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.
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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