Q1 2026 Priority Technology Holdings Inc Earnings Call Transcript
Key Points
- Priority Technology Holdings Inc (PRTH) reported strong growth in both revenue and profits for the first quarter, with net revenue increasing by 11% year-over-year.
- The company achieved a 13% growth in adjusted gross profit and adjusted EBITDA, reflecting solid financial performance.
- Adjusted EPS increased by 27% year-over-year, indicating improved profitability.
- The company ended the first quarter with 1.8 million total customer accounts, up by 50,000 from the end of 2025, showcasing customer growth.
- The Payables and Treasury Solutions segments showed robust growth, with payables growing by 35.6% and Treasury Solutions by 17.5% year-over-year.
- Merchant Solutions saw a decline in the number of merchant accounts, averaging 175,000 during the quarter, down from 178,000 last year.
- The Payables segment experienced a decline in gross margins by 210 basis points compared to last year's first quarter due to revenue mix shifts.
- The Treasury Solutions segment's gross margins decreased by 370 basis points year-over-year due to a mix shift in revenue sources.
- Operating expenses increased, with salaries and benefits rising by 10.7% year-over-year, driven by stock compensation and acquisition-related headcount additions.
- SG&A expenses increased by 27.4% year-over-year due to higher cloud and software expenses and non-recurring legal and transaction-related costs.
Greetings. Welcome to Priority Technology Holdings First Quarter 2026 Earnings Call.
This time, all participants will be in listen-only mode.
The question-and-answer session will follow the formal presentation.
If anyone today should require operator assistance during the conference, please press *0 from your telephone keypad.
Please note that this conference is being recorded.
At this time, I'll now turn the conference over to Meghna Mehra, Managing Director of ICR.
Thank you, Meghna. You may now begin.
Good morning, and thank you for joining us. With me today are Tom Priori, Chairman and Chief Executive Officer of Priority Technology Holdings and Tim O'Leary, Chief Financial Officer. Before giving our prepared remarks, I would like to remind all participants that our comments today will include forward-looking statements, which involve a number of risks and uncertainties that may cause actual results to differ materially from our
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