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

ALPHARETTA, GA - November 13, 2019 -- Priority Technology Holdings, Inc. (NASDAQ: PRTH) (“Priority” or the “Company”), a leading provider of merchant acquiring, integrated payment software and commercial payment solutions, today announced its third quarter 2019 financial results.


Highlights

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

Revenue of $110.0 million increased 6.1% from $103.6 million.
Gross profit of $30.2 million increased 10.7% from $27.2 million. The Company’s non-GAAP gross profit metric represents consolidated revenue less costs of merchant card fees and other costs of services.
Gross profit margin of 27.4% increased 110 basis points from 26.3%.
Income from operations of $2.7 million declined $0.8 million from $3.6 million, driven by a $5.2 million increase in depreciation and amortization expense.
Interest expense of $10.5 million increased $3.1 million from $7.3 million.
Net loss of $5.8 million increased $3.3 million from $2.6 million.
Adjusted EBITDA (1) of $15.3 million increased 23.6% from $12.4 million. The Company’s non-GAAP adjusted EBITDA measure (1) is earnings before interest, taxes, depreciation and amortization (EBITDA), further adjusted for non-cash compensation and certain other expenses considered non-recurring.
Total merchant bankcard processing dollar volume of $10.8 billion increased 11.0% from $9.7 billion.


"Our third quarter results continued to reflect the strong underlying growth we’ve realized over the past several quarters, particularly when excluding the change in the subscription billing e-commerce business," said Tom Priore, Executive Chairman and CEO of Priority. "These strong results were driven by solid improvement in the Consumer Payments segment, exceptional growth in the Integrated Partners business and steady performance in Commercial Payments."







1

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