Priority Technology Q3 revenue rises 11%, beats estimates
PRTH•Priority Technology's third-quarter revenue rose 11% to $268.62 million, beating the $259.19 million estimate, while adjusted EBITDA of $60.93 million also topped expectations. The company expects to go private in the first half of 2027 under a previously announced merger and will not provide forward-looking guidance.
1. Quarterly results
Priority Technology reported third-quarter revenue of $268.62 million, up 11% and above the $259.19 million analyst estimate. Adjusted EBITDA was $60.93 million, topping the $59.19 million estimate; net income was $12.22 million.
2. Growth and outlook
The company said organic growth of 9.2% drove the revenue increase. Higher card processing volumes lifted Merchant Solutions revenue, while increased buyer-funded card processing dollar value supported growth in Payables. Priority Technology expects to go private in the first half of 2027 under a previously announced merger and will not provide forward-looking guidance because of the pending transaction.
