Exhibit 99.1
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Chris Kettmann
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Priority Technology Holdings, Inc. Announces Second Quarter 2019 Financial Results

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

Highlights

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

Consolidated revenue of $107.4 million increased 2.5%. Adjusted consolidated revenue (1), a non- GAAP measure which excludes the impact of subscription-billing e-commerce merchants, of $105.8 million increased 17.0%.
Total merchant bankcard processing dollar value grew 10.9% to $11.0 billion from $9.9 billion.
Gross profit of $30.1 million increased $5.6 million, and gross profit margin increased 470 basis points from 23.4% to 28.1%. The Company’s non-GAAP gross profit metric (1) represents consolidated revenue less costs of merchant card fees and other costs of services.
Consolidated adjusted EBITDA of $14.9 million increased $4.3 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) of $14.3 million, excluding the impact of subscription-billing e-commerce merchants, increased $7.8 million.
The Company repurchased 451,224 shares of its common stock in off-market transactions for a total amount of $2.4 million, an average of $5.29 per share.


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


"Our second quarter results reflected broad-based demand for Priority’s full suite of electronic payment solutions. Underlying growth in the Consumer Payments segment was fueled by strong growth in merchant bankcard volume, and we delivered steady improvement in Commercial Payments. Our Integrated Partners business group performed well in all industry verticals, including Healthcare, Hospitality and Real Estate, which has been supported by the successful business integration of the YapStone rent, dues, and storage payment assets. In addition, we are pleased that the re-boarding trend of subscription-billing e-commerce merchants is accelerating as part of our specialized merchant acquiring initiatives. We expect this portion of the business to become a year-over-year tailwind by the end of 2019,” said Tom Priore, Executive Chairman and CEO of Priority.

1

The following information was filed by Priority Technology Holdings, Inc. (PRTH) on Tuesday, August 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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