Priority Technology Holdings, Inc. announced its third quarter 2024 financial results on November 7, 2024, reporting strong year-over-year diversified revenue growth. Revenues increased to $227.0 million, up from $189.0 million in the third quarter of 2023. Adjusted gross profit also grew to $86.0 million from $72.3 million in the prior year period.
The company achieved a net income of $10.6 million, a significant improvement from a net loss of $0.1 million in the same quarter last year. Adjusted EBITDA rose to $54.6 million, compared to $45.0 million in the third quarter of 2023. Basic earnings per share stood at $0.07, a turnaround from a loss of $0.16 per share year-over-year.
Priority reaffirmed its full-year 2024 financial guidance, projecting continued strong performance. The results were driven by consistent execution across its SMB Acquiring, B2B Payables, and Enterprise Payments segments. This performance reinforces the company's position to excel through the remainder of 2024 and beyond.
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