Priority Technology Holdings Inc
For the period ended Sep 30, 2024. Filed Nov 7, 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.
Sep 30, 2024 · Filed Nov 7, 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
| September 30, 2024 | December 31, 2023 | |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $41,072 | $39,604 |
| Restricted cash | 13,398 | 11,923 |
| Accounts receivable, net of allowances of $7,887 and $5,289, respectively | 73,393 | 58,551 |
| Prepaid expenses and other current assets | 19,103 | 13,273 |
| Current portion of notes receivable, net of allowance of $0 and $0, respectively | 2,567 | 1,468 |
| Settlement assets and customer/subscriber account balances | 879,361 | 756,475 |
| Total current assets | 1,028,894 | 881,294 |
| Notes receivable, less current portion | 3,727 | 3,728 |
| Property, equipment and software, net | 51,603 | 44,680 |
| Goodwill | 376,091 | 376,103 |
| Intangible assets, net | 248,819 | 273,350 |
| Deferred income taxes, net | 25,477 | 22,533 |
| Other noncurrent assets | 25,058 | 13,649 |
| Total assets | $1,759,669 | $1,615,337 |
| Liabilities, Redeemable Senior Preferred Stock, Redeemable NCI, and Stockholders' Deficit | ||
| Current liabilities: | ||
| Accounts payable and accrued expenses | $67,009 | $52,643 |
| Accrued residual commissions | 35,818 | 33,025 |
| Customer deposits and advance payments | 4,205 | 3,934 |
| Current portion of long-term debt | 8,350 | 6,712 |
| Settlement and customer/subscriber account obligations | 875,815 | 755,754 |
| Total current liabilities | 991,197 | 852,068 |
| Long-term debt, net of current portion, discounts and debt issuance costs | 808,081 | 631,965 |
| Other noncurrent liabilities | 19,241 | 18,763 |
| Total liabilities | 1,818,519 | 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 shares issued at September 30, 2024 and December 31, 2023; 88,064 and 225,000 shares outstanding at September 30, 2024 and December 31, 2023, respectively | 105,098 | 258,605 |
| Stockholders' deficit: | ||
| Preferred stock, $0.001; 100,000,000 shares authorized; 0 issued or outstanding at September 30, 2024 and December 31, 2023 | — | — |
| Common Stock, $0.001 par value; 1,000,000,000 shares authorized; 81,440,659 and 79,589,055 shares issued at September 30, 2024 and December 31, 2023, respectively; and 77,092,558 and 76,956,889 shares outstanding at September 30, 2024 and December 31, 2023, respectively | 77 | 77 |
| Treasury stock at cost, 4,348,101 and 2,632,166 shares at September 30, 2024 and December 31, 2023, respectively | (19,278) | (12,815) |
| Additional paid-in capital | — | — |
| Accumulated other comprehensive loss | (66) | (29) |
| Accumulated deficit | (146,571) | (134,951) |
| Total stockholders' deficit attributable to stockholders of Priority | (165,838) | (147,718) |
| Non-controlling interests in consolidated subsidiaries | 1,890 | 1,654 |
| Total stockholders' deficit | (163,948) | (146,064) |
| Total liabilities, redeemable senior preferred stock, redeemable NCI and stockholders' deficit | $1,759,669 | $1,615,337 |
Unaudited Consolidated Statements of Operations and Comprehensive Income (Loss)
(in thousands, except per share amounts)
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