Priority Technology Holdings Inc
For the period ended Mar 31, 2024. Filed May 9, 2024.
View on SEC.govAbout this filing
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.
See the whole filing, with its images and exhibitsContents
Unaudited Consolidated Statements of Cash Flows
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net income (loss) | $5,193 | $(506) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Depreciation and amortization of assets | 15,253 | 18,048 |
| Stock-based, ESPP and incentive units compensation | 1,633 | 1,936 |
| Amortization of debt issuance costs and discounts | 1,065 | 903 |
| Deferred income tax | (1,872) | (5,716) |
| Change in contingent consideration | 972 | 229 |
| Other non-cash items, net | (259) | 14 |
| Change in operating assets and liabilities: | ||
| Accounts receivable | (8,339) | 81 |
| Prepaid expenses and other current assets | (425) | 481 |
| Income taxes (receivable) payable | — | 8,666 |
| Notes receivable | (266) | (163) |
| Accounts payable and other accrued liabilities | 1,590 | 3,916 |
| Customer deposits and advance payments | 157 | 250 |
| Other assets and liabilities, net | (1,395) | (462) |
| Net cash provided by operating activities | 13,307 | 27,677 |
| Cash flows from investing activities: | ||
| Additions to property, equipment and software | (6,610) | (5,046) |
| Notes receivable, net | (1,059) | 178 |
| Acquisitions of assets and other investing activities | — | (2,715) |
| Net cash used in investing activities | (7,669) | (7,583) |
| Cash flows from financing activities: | ||
| Repayments of long-term debt | (1,678) | (1,550) |
| Repayments of borrowings under revolving credit facility | — | (6,000) |
| Repurchases of Common Stock and shares withheld for taxes | (421) | (777) |
| Dividends paid to redeemable senior preferred stockholders1 | (7,027) | (11,435) |
| Settlement and customer/subscriber accounts obligations, net | 1,918 | 79,258 |
| Payment of contingent consideration related to business combination | (3,071) | (1,959) |
| Net cash (used in) provided by financing activities | (10,279) | 57,537 |
| Net change in cash and cash equivalents and restricted cash: | ||
| Net (decrease) increase in cash and cash equivalents, and restricted cash | (4,641) | 77,631 |
| Cash and cash equivalents and restricted cash at beginning of period | 796,223 | 560,610 |
| Cash and cash equivalents and restricted cash at end of period | $791,582 | $638,241 |
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Reconciliation of cash and cash equivalents, and restricted cash: | ||
| Cash and cash equivalents | $34,290 | $15,882 |
| Restricted cash | 12,658 | 11,012 |
| Cash and cash equivalents included in settlement assets and customer/subscriber account balances (see Note 4) | 744,634 | 611,347 |
| Total cash and cash equivalents, and restricted cash | $791,582 | $638,241 |
| Supplemental cash flow information: | ||
| Cash paid for interest | $18,436 | $16,330 |
| Non-cash investing and financing activities: | ||
| Forfeiture of liability-classified award | $— | $596 |
| Acquisition of intangible asset | $— | $193 |
| Issuance of NCI | $93 | $— |
(1)The dividend payable for the quarter ended March 31, 2024, was paid on April 1, 2024.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.