Priority Technology Holdings Inc
For the period ended Dec 31, 2024. Filed Mar 6, 2025.
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FY2024 · Filed Mar 6, 2025
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19. (Loss) Earnings per Common Share
20.(Loss) Earnings per Common Share
The following tables set forth the computation of the Company's basic and diluted earnings (loss) per common share:
| (in thousands except per share amounts) | Years Ended December 31, | ||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Numerator: | |||
| Net income (loss) | $24,015 | $(1,311) | (2,150) |
| Less: Dividends, accretion, and related excise tax attributable to redeemable senior preferred stockholders | (47,336) | (47,744) | (36,880) |
| Less: NCI preferred unit redemptions | (639) | — | — |
| Less: Earnings attributable to NCI | — | — | — |
| Net loss attributable to common shareholders | $(23,960) | $(49,055) | $(39,030) |
| Denominator: | |||
| Basic and diluted: | |||
| Weighted-average common shares outstanding(1) | 77,993 | 78,333 | 78,233 |
| Loss per common share | $(0.31) | $(0.63) | $(0.50) |
(1)The weighted-average common shares outstanding includes 1,803,841 warrants issued in the second quarter of 2021 (refer to Note 11, Redeemable Senior Preferred Stock and Warrants).
Potentially anti-dilutive securities that were excluded from (loss) earnings per common share that could potentially be dilutive in future periods are as follows:
| Common Stock Equivalents at December 31, | |||
|---|---|---|---|
| (in thousands) | 2024 | 2023 | 2022 |
| Outstanding warrants on common stock(1) | — | — | 3,556 |
| Outstanding options and warrants issued to adviser(2) | — | — | 600 |
| Restricted stock awards(3) | 721 | 1,180 | 2,440 |
| Outstanding stock option awards(3) | 840 | 900 | 1,098 |
| Total | 1,561 | 2,080 | 7,694 |
(1)The warrants were exercisable at $11.50 per share and expired on August 24, 2023. Refer to Note 13. Shareholders' Deficit.
(2)The warrants and options were exercisable at $12.00 per share and expired on August 24, 2023. Refer Note 13. Shareholders' Deficit.
(3)Granted under the 2018 Plan.
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