Priority Technology Holdings Inc
For the period ended Mar 31, 2024. Filed May 9, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 9, 2024
PRTH$7.900.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Unaudited Consolidated Balance Sheets
| March 31, 2024 | December 31, 2023 | |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $34,290 | $39,604 |
| Restricted cash | 12,658 | 11,923 |
| Accounts receivable, net of allowances of $5,536 and $5,289, respectively | 67,137 | 58,551 |
| Prepaid expenses and other current assets | 13,699 | 13,273 |
| Current portion of notes receivable, net of allowance of $0 and $0, respectively | 1,972 | 1,468 |
| Settlement assets and customer/subscriber account balances | 752,590 | 756,475 |
| Total current assets | 882,346 | 881,294 |
| Notes receivable, less current portion | 4,549 | 3,728 |
| Property, equipment and software, net | 48,120 | 44,680 |
| Goodwill | 376,112 | 376,103 |
| Intangible assets, net | 261,658 | 273,350 |
| Deferred income taxes, net | 24,405 | 22,533 |
| Other noncurrent assets | 12,767 | 13,649 |
| Total assets | $1,609,957 | $1,615,337 |
| Liabilities, Redeemable Senior Preferred Stock, Redeemable NCI, and Stockholders' Deficit | ||
| Current liabilities: | ||
| Accounts payable and accrued expenses | $49,329 | $52,643 |
| Accrued residual commissions | 35,965 | 33,025 |
| Customer deposits and advance payments | 4,090 | 3,934 |
| Current portion of long-term debt | 6,712 | 6,712 |
| Settlement and customer/subscriber account obligations | 753,850 | 755,754 |
| Total current liabilities | 849,946 | 852,068 |
| Long-term debt, net of current portion, discounts and debt issuance costs | 631,352 | 631,965 |
| Other noncurrent liabilities | 16,704 | 18,763 |
| Total liabilities | 1,498,002 | 1,502,796 |
| Commitments and contingencies (Note 14) | ||
| Redeemable senior preferred stock, net of discounts and issuance costs: | ||
| Redeemable senior preferred stock, $0.001 par value; 250,000 shares authorized; 225,000 issued and outstanding at March 31, 2024 and December 31, 2023 | 264,240 | 258,605 |
| Redeemable non-controlling interests in consolidated subsidiary | 5,837 | — |
| Stockholders' deficit: | ||
| Preferred stock, $0.001; 100,000,000 shares authorized; 0 issued or outstanding at March 31, 2024 and December 31, 2023 | — | — |
| Common Stock, $0.001 par value; 1,000,000,000 shares authorized; 80,018,209 and 79,589,055 shares issued at March 31, 2024 and December 31, 2023, respectively; and 75,834,517 and 76,956,889 shares outstanding at March 31, 2024 and December 31, 2023, respectively | 76 | 77 |
| Treasury stock at cost, 4,183,692 and 2,632,166 shares at March 31, 2024 and December 31, 2023, respectively | (18,491) | (12,815) |
| Additional paid-in capital | — | — |
| Accumulated other comprehensive loss | (42) | (29) |
| Accumulated deficit | (141,412) | (134,951) |
| Total stockholders' deficit attributable to stockholders of PRTH | (159,869) | (147,718) |
| Non-controlling interests in consolidated subsidiaries | 1,747 | 1,654 |
| Total stockholders' deficit | (158,122) | (146,064) |
| Total liabilities, redeemable senior preferred stock, redeemable NCI and stockholders' deficit | $1,609,957 | $1,615,337 |
Unaudited Consolidated Statements of Operations and Comprehensive Loss
(in thousands, except per share amounts)
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