Priority Technology Holdings reported its strongest financial performance in company history, with adjusted EBITDA increasing 21.3% to $204.3 million for the full year 2024. The fintech company continues to demonstrate robust growth across all business segments under the leadership of Chairman and CEO Thomas Priore.
“We reported the strongest revenue performance in our history, both for the fourth quarter and the full year, driven by continued momentum in every segment of our business,” said Thomas Priore on the company’s earnings call with analysts. “The numbers demonstrate that the Priority commerce engine that streamlines collecting, storing, lending, and sending money with solutions for acquiring, payables, and banking — and creates revenue and operational success for businesses — continues to resonate with our partners and customers.”
The Alpharetta, Georgia-based company posted revenue of $879.7 million for fiscal year 2024, a 16.4% increase over 2023. Fourth quarter revenue reached $227.1 million, up 13.9% from the same period in 2023. Operating income for the full year increased 63.7% to $133.4 million, reflecting the company’s successful growth strategy and operational efficiency.
Thomas Priore Notes Priority’s ‘Organic Growth Performance’
Priority’s unified commerce vision has been a key driver of its success. The company’s platform enables customers to optimize cash flow and working capital, with solutions spanning SMB acquiring, B2B payables, and enterprise payments segments.
The company ended 2024 with approximately 1.2 million customer accounts on its platform, processing over $130 billion in annual transaction volume while administrating over $1.2 billion in average daily account balances.
Looking ahead, Priority’s guidance for 2025 is for continued strong performance, with revenue forecast to range between $965 million and $1 billion, representing growth of 10% to 14% compared to 2024. Adjusted EBITDA is forecast to range between $220 million and $230 million, a growth rate of 8% to 13%.
The company has also made significant strides in improving its balance sheet, completing the redemption of its preferred stock in 2024 and making a voluntary $10 million prepayment on its term loan in February 2025.
“We believe we have the team, the technology, and the grit to continue to organically deliver industry-leading results, but we also believe the further strength of our public currency will position Priority for transformative, highly accretive opportunities emerging in today’s market,” Priore noted.
Priority’s Profitable Transition
Priority’s growth trajectory has been impressive since Thomas Priore led the company’s transition from a private to a public entity. Priore has guided Priority through strategic acquisitions and technological developments that have established it as a key player in the fintech industry.
The company has consistently expanded its vision of providing a unified commerce experience for clients that includes an innovative suite of payments and banking services, powered by its accelerated commerce engine. This tactic has proven successful, with the enterprise payments business showing particularly strong results — segment revenue skyrocketed 50% in Q1 2024 from the prior year.
The company’s diversification strategy is also paying dividends, with profits growing in both B2B payables and enterprise payments segments. Combined, these segments represented almost 59% of the company’s adjusted gross profit in early 2024, demonstrating the effectiveness of Priority’s balanced approach to growth.
“We’re committed to meeting our customers where they are by refining the experience for our partners to make working with Priority seamless and easy,” added Priore. “Our financial performance demonstrates that partners consistently choose the unified commerce applications in acquiring payables and banking that best fit their business or connect to our API to leverage these features in their own applications.”
Priority’s market success has garnered industry recognition, with Forbes naming the company as one of America’s most successful small-cap companies in 2025. Priority ranked No. 45 on the prestigious list, with Forbes noting the company’s stock offered a 112% return in the 52 weeks preceding the list’s release. The financial publication highlighted Priority’s annual revenue of $852 million, more than double its 2020 figure.
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