← Priority Technology Holdings, Inc.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income (loss) | ($108k) | ($125k) | ($15.0m) | ($33.6m) | $71.1m | $1.4m | ($2.1m) | ($1.3m) | $24.0m | $55.7m | |
| Net Income From Continuing Operations | — | — | — | — | — | — | ($2.1m) | ($1.3m) | $24.0m | $55.7m | |
| Depreciation and amortization of assets | $14.7m | $14.7m | $19.7m | $39.1m | $40.8m | $49.7m | $70.7m | $68.4m | $58.0m | $63.2m | |
| Amortization of debt issuance costs and discounts | $665k | $1.2m | $1.4m | $1.7m | $2.4m | $2.3m | $3.5m | $3.8m | $2.7m | $1.8m | |
| Depreciation Amortization Depletion | — | — | — | — | — | — | $70.7m | $68.4m | $58.0m | $63.2m | |
| Depreciation And Amortization | — | — | — | — | — | — | $70.7m | $68.4m | $58.0m | $63.2m | |
| Deferred income tax benefit | — | $0 | ($66k) | $9.3m | $5.9m | ($2.6m) | ($8.2m) | ($6.1m) | ($2.2m) | ($12.2m) | |
| Deferred Income Tax | — | — | — | — | — | — | ($8.2m) | ($6.1m) | ($2.2m) | ($12.2m) | |
| Deferred Tax | — | — | — | — | — | — | ($8.2m) | ($6.1m) | ($2.2m) | ($12.2m) | |
| Asset Impairment Charge | — | — | — | — | — | $0 | $0 | — | — | — | |
| Earnings (Loss)es From Equity Investments | — | — | — | — | — | ($7.6m) | $0 | $0 | — | — | |
| Stock-based compensation, ESPP, and incentive units compensation | $2.3m | $1.0m | $1.6m | $3.7m | $2.4m | $3.2m | $6.2m | $6.8m | $6.1m | $10.8m | |
| Debt extinguishment and modification costs | — | — | — | $0 | $1.5m | $2.6m | $0 | $0 | $10.4m | $12.5m | |
| Change in deferred consideration liability | ($2.7m) | ($410k) | $0 | ($620k) | ($360k) | $0 | $2.1m | ($1.6m) | $2.8m | $2.7m | |
| Other non-cash items, net | — | $133k | $211k | ($831k) | $233k | $462k | $74k | ($3.9m) | ($147k) | ($293k) | |
| Bargain purchase gain | — | — | — | — | — | — | — | $0 | $0 | ($4.0m) | |
| Accounts receivable | $8.4m | ($13.7m) | $2.0m | ($1.7m) | ($5.2m) | ($16.7m) | ($19.6m) | $24.5m | ($9.4m) | ($21.9m) | |
| Prepaid expenses and other current assets | $409k | $1.7m | $171k | ($1.2m) | $65k | ($1.6m) | ($160k) | ($936k) | ($6.1m) | ($84k) | |
| Income taxes receivable | — | — | — | ($46k) | ($238k) | ($5.1m) | $6.3m | ($273k) | ($3.6m) | ($8.6m) | |
| Notes receivable | ($2.9m) | ($1.7m) | $4.9m | ($390k) | ($2.2m) | $333k | $377k | ($912k) | $0 | $0 | |
| Accounts payable and accrued expenses | $111k | $238k | — | ($1.1m) | $1.3m | $7.0m | $19.8m | ($3.2m) | $9.6m | $5.7m | |
| Accrued residuals commissions | — | — | — | — | — | — | — | ($264k) | $5.0m | $2.9m | |
| Customer deposits and advance payments | — | $714k | ($1.6m) | $1.6m | ($2.0m) | $2.1m | ($2.4m) | $1.1m | ($1.7m) | ($319k) | |
| Other assets, net | — | — | — | — | — | — | — | ($6.8m) | ($6.2m) | ($4.4m) | |
| Other liabilities, net | — | — | — | — | — | — | — | $1.7m | $1.3m | ($3.6m) | |
| Additions to property, equipment and software | ($4.1m) | ($6.6m) | ($10.6m) | ($11.1m) | ($7.5m) | ($9.7m) | ($18.9m) | ($21.3m) | ($21.7m) | ($24.9m) | |
| Notes receivable, net (see Note 5) | — | — | — | — | — | $0 | ($4.7m) | $376k | ($3.4m) | ($11.1m) | |
| Acquisition of assets | ($2.3m) | ($2.5m) | ($90.9m) | ($82.9m) | ($5.6m) | ($49.5m) | ($8.0m) | ($6.6m) | ($10.5m) | ($69.5m) | |
| Borrowings under revolving credit facility | $0 | $0 | $8.0m | $14.0m | $7.0m | $30.0m | $29.5m | $44.0m | $0 | $0 | |
| Repayments of borrowings under revolving credit facility | $0 | $0 | ($8.0m) | ($2.5m) | ($18.5m) | ($15.0m) | ($32.0m) | ($56.5m) | $0 | $0 | |
| Redemption of senior preferred stock | — | — | — | — | — | — | $0 | $0 | ($225.0m) | $0 | |
| Redemption of redeemable non-controlling interest in subsidiary | — | — | — | — | — | — | $0 | $0 | ($2.1m) | ($7.0m) | |
| Shares withheld for taxes | — | — | — | — | — | — | — | ($1.3m) | ($1.5m) | ($3.2m) | |
| Proceeds from the exercise of stock options | — | — | — | $0 | $0 | $1.2m | $0 | $0 | $1.8m | $467k | |
| Settlement obligations, net | — | — | — | $27.3m | $34.9m | $417.6m | $43.1m | $211.1m | $179.6m | $355.1m | |
| Payment of contingent/deferred consideration | — | — | — | — | $0 | $0 | ($7.0m) | ($4.7m) | ($5.6m) | ($20.1m) | |
| Addition of contingent/deferred consideration liabilities | — | — | — | — | — | — | — | $8.4m | $0 | $28.1m | |
| Deferred consideration accrual | — | — | — | — | — | — | — | $6.0m | $2.8m | $2.7m | |
| Net non-cash change in lease liability | — | — | — | — | — | — | $1.7m | $1.5m | $1.5m | $1.1m | |
| Measurement period adjustment to purchase price | — | — | — | — | — | $0 | $0 | $111k | $12k | ($663k) | |
| Acquisition of intangible asset | — | — | — | — | — | — | $0 | $0 | ($4.0m) | ($1.7m) | |
| Issuance of NCI | — | — | — | — | — | — | — | $184k | $0 | $6.6m | |
| Liability incurred in asset acquisition | — | — | — | — | — | — | — | $0 | $0 | $4.0m | |
| Adjustment to value of profit interest unit | — | — | — | — | — | $0 | $0 | ($404k) | $0 | $0 | |
| Beginning Cash Position | — | — | — | — | — | — | $518.1m | $560.6m | $796.2m | $993.9m | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | — | — | $8.5m | $210.1m | $147.6m | $426.2m | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | — | — | ($36.5m) | ($55.7m) | ($35.5m) | ($174.0m) | |
| Change In Account Payable | — | — | — | — | — | — | $19.8m | ($3.0m) | $4.5m | $5.7m | |
| Change In Accrued Expense | — | — | — | — | — | — | — | ($264k) | $5.0m | $2.9m | |
| Change In Income Tax Payable | — | — | — | — | — | — | $6.3m | ($273k) | ($3.6m) | ($8.6m) | |
| Change In Other Current Assets | — | — | — | — | — | — | — | ($6.8m) | ($6.2m) | ($4.4m) | |
| Change In Other Current Liabilities | — | — | — | — | — | — | — | $1.7m | $1.3m | ($3.6m) | |
| Change In Other Working Capital | — | — | — | — | — | — | ($2.1m) | $1.1m | ($1.7m) | ($319k) | |
| Change In Payable | — | — | — | — | — | — | $26.1m | ($3.2m) | $902k | ($2.8m) | |
| Change In Payables And Accrued Expense | — | — | — | — | — | — | $19.8m | ($3.5m) | $5.9m | $92k | |
| Change In Prepaid Assets | — | — | — | — | — | — | ($160k) | ($936k) | ($6.1m) | ($84k) | |
| Change In Receivables | — | — | — | — | — | — | ($19.2m) | $23.6m | ($9.4m) | ($21.9m) | |
| Change In Tax Payable | — | — | — | — | — | — | $6.3m | ($273k) | ($3.6m) | ($8.6m) | |
| Change In Working Capital | — | — | — | — | — | — | ($1.7m) | $15.2m | ($16.2m) | ($30.2m) | |
| Changes In Account Receivables | — | — | — | — | — | — | ($19.6m) | $24.5m | ($9.4m) | ($21.9m) | |
| Changes In Cash | — | — | — | — | — | — | $42.5m | $235.6m | $197.6m | $352.1m | |
| End Cash Position | — | — | — | — | — | — | $560.6m | $796.2m | $993.9m | $1.3b | |
| Financing Cash Flow | — | — | — | — | — | — | $8.5m | $210.1m | $147.6m | $426.2m | |
| Free Cash Flow | — | — | — | — | — | — | $51.6m | $60.0m | $63.9m | $75.1m | |
| Investing Cash Flow | — | — | — | — | — | — | ($36.5m) | ($55.7m) | ($35.5m) | ($174.0m) | |
| Issuance Of Capital Stock | — | — | — | — | — | $219.1m | $0 | $0 | — | — | |
| Net Business Purchase And Sale | — | — | — | — | — | — | ($5.0m) | ($28.2m) | $0 | ($39.3m) | |
| Net PPE Purchase And Sale | — | — | — | — | — | — | ($18.9m) | ($21.3m) | ($21.7m) | ($24.9m) | |
| Net Preferred Stock Issuance | — | — | — | — | — | — | $0 | $0 | ($225.0m) | $0 | |
| Operating Gains Losses | — | — | — | — | — | ($7.6m) | — | — | $10.4m | $12.5m | |
| Other Non Cash Items | — | — | — | — | — | — | $5.7m | ($1.7m) | $5.4m | $208k | |
| Preferred Stock Issuance | — | — | — | — | — | $219.1m | $0 | $0 | — | — | |
| Preferred Stock Payments | — | — | — | — | — | — | $0 | $0 | ($225.0m) | $0 | |
| Proceeds From Stock Option Exercised | — | — | — | — | — | — | $0 | $0 | $1.8m | $467k | |
| Purchase Of Business | — | — | — | — | — | — | ($5.0m) | ($28.2m) | $0 | ($39.3m) | |
| Purchase Of PPE | — | — | — | — | $7.5m | $9.7m | ($18.9m) | ($21.3m) | ($21.7m) | ($24.9m) | |
| Repurchase Of Capital Stock | — | — | — | — | — | — | ($7.5m) | ($1.3m) | ($226.5m) | ($3.2m) | |
| Sale Of Business | — | — | — | — | — | $15.3m | $0 | $0 | — | — | |
| Stock Based Compensation | — | — | — | — | — | — | $6.2m | $6.8m | $6.1m | $10.8m | |
| Net cash provided by operating activities | ($150k) | ($239k) | $31.3m | $39.4m | $47.1m | $9.4m | $70.5m | $81.3m | $85.6m | $100.0m | |
| Acquisitions of businesses, net of cash acquired | $0 | $0 | ($7.5m) | ($184k) | $0 | ($407.1m) | ($5.0m) | ($28.2m) | $0 | ($39.3m) | |
| Other investing activities | — | — | $0 | ($184k) | $0 | — | — | $0 | ($4.8m) | ($29.2m) | |
| Net Other Investing Changes | — | — | — | — | — | — | ($12.6m) | ($6.3m) | ($13.9m) | ($109.8m) | |
| Net cash used in investing activities | ($54.7m) | $49k | ($108.9m) | ($97.7m) | $166.4m | ($451.0m) | ($36.5m) | ($55.7m) | ($35.5m) | ($174.0m) | |
| Proceeds from issuance of long-term debt, net of issue discount | $0 | $276.3m | $126.8m | $69.7m | $0 | $607.3m | $0 | $49.8m | $945.1m | $1.1b | |
| Debt issuance and modification costs paid | — | — | ($425k) | $83k | ($2.7m) | ($9.1m) | $0 | ($1.2m) | ($7.7m) | ($4.8m) | |
| Issuance Of Debt | — | — | — | — | — | — | $29.5m | $93.8m | $945.1m | $1.1b | |
| Long Term Debt Issuance | — | — | — | — | — | — | $29.5m | $93.8m | $945.1m | $1.1b | |
| Net Issuance Payments Of Debt | — | — | — | — | — | — | ($8.7m) | $30.9m | $286.3m | $105.6m | |
| Net Long Term Debt Issuance | — | — | — | — | — | — | ($8.7m) | $30.9m | $286.3m | $105.6m | |
| Repayments of long-term debt | $0 | ($90.7m) | ($2.8m) | ($3.8m) | ($110.5m) | ($361.4m) | ($6.2m) | ($6.3m) | ($658.8m) | ($961.0m) | |
| Long Term Debt Payments | — | — | — | — | — | — | ($38.2m) | ($62.8m) | ($658.8m) | ($961.0m) | |
| Repayment Of Debt | — | — | — | — | — | — | ($38.2m) | ($62.8m) | ($658.8m) | ($961.0m) | |
| Issuance of Common Stock in asset acquisition | — | — | — | — | $0 | $0 | $1.3m | $184k | $0 | $13.5m | |
| Net Common Stock Issuance | — | — | — | — | — | — | ($7.5m) | ($1.3m) | ($1.5m) | ($3.2m) | |
| Common Stock Payments | — | — | — | — | — | — | ($7.5m) | ($1.3m) | ($1.5m) | ($3.2m) | |
| Redemption of accumulated dividend on redeemable preferred stock | — | — | — | — | — | — | $0 | $0 | ($54.6m) | $0 | |
| Dividends paid to redeemable senior preferred stockholders | ($10.0m) | ($3.4m) | ($7.1m) | $0 | $0 | ($7.5m) | ($11.5m) | ($24.7m) | ($23.6m) | $0 | |
| Cash portion of dividend payable and ticking fee for redeemable senior preferred stock | — | — | — | — | $0 | $0 | ($5.3m) | ($7.0m) | $0 | $0 | |
| Cash Dividends Paid | — | — | — | — | — | — | ($11.5m) | ($24.7m) | ($78.2m) | $0 | |
| Preferred Stock Dividend Paid | — | — | — | — | — | — | ($11.5m) | ($24.7m) | ($78.2m) | $0 | |
| Net Other Financing Charges | — | — | — | — | — | — | $36.1m | $205.2m | $164.2m | $323.2m | |
| Net cash provided by financing activities | $55.2m | ($25.4m) | $67.3m | $75.0m | ($175.8m) | $871.6m | $8.5m | $210.1m | $147.6m | $426.2m | |
| Net increase in cash and cash equivalents, and restricted cash | — | — | — | $16.6m | $37.7m | $430.0m | $42.5m | $235.6m | $197.6m | $352.1m | |
| Cash and cash equivalents, and restricted cash at beginning of period | $41.7m | $44.2m | $33.8m | $50.5m | $88.1m | $518.1m | $560.6m | $796.2m | $993.9m | $1.3b | |
| Cash and cash equivalents | $363k | $172k | — | $3.2m | $9.2m | $20.3m | $18.5m | $39.6m | $58.6m | $77.2m | |
| Restricted cash | — | $16.2m | $18.2m | $47.2m | $78.9m | $28.9m | $10.6m | $11.9m | $11.1m | $16.5m | |
| Cash and cash equivalents included in settlement assets (restricted in nature, see Note 4) | — | — | — | $0 | $0 | $468.9m | $531.6m | $744.7m | $924.2m | $1.3b | |
| Change In Cash Supplemental As Reported | — | — | — | — | — | — | $42.5m | $235.6m | $197.6m | $352.1m | |
| Cash paid for interest | $3.7m | $19.0m | $23.4m | $33.1m | $33.4m | $26.1m | $46.9m | $75.9m | $82.3m | $85.8m | |
| Cash paid for income taxes, net of refunds | — | — | $0 | $0 | $8.4m | $2.2m | $6.7m | $12.9m | $19.2m | $10.6m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.