Priority Technology Holdings, Inc.
For the period ended Jun 30, 2025. Filed Aug 7, 2025.
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Jun 30, 2025 · Filed Aug 7, 2025
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5. Notes Receivable
- Notes Receivable
The Company had notes receivable of $10.0 million and $8.6 million as of June 30, 2025 and December 31, 2024, respectively, which are reported as current portion of notes receivable and notes receivable less current portion on the Company's Unaudited Consolidated Balance Sheets. The notes receivable carried weighted-average interest rates of 16.0% and 16.9% as of June 30, 2025 and December 31, 2024, respectively. The notes are receivables from ISOs, which are made with a term of 1-5 years. Under the terms of the agreements, the Company will hold back residual payments due to the ISOs and apply such residuals against future payment due to the Company. The following table provides a reconciliation for activity within the notes receivable as of June 30, 2025 :
| (in thousands) | |
|---|---|
| Balance at January 1, 2025 | $8,557 |
| Principal payments | (508) |
| Advances during the period | 655 |
| Balance at March 31, 2025 | $8,704 |
| Principal payments | (1,290) |
| Advances during the period | 2,573 |
| Balance at June 30, 2025 | $9,987 |
As of June 30, 2025, the principal payments for the Company's notes receivable are due as follows:
| (in thousands) | |
|---|---|
| Twelve months ending June 30, | |
| 2026 | $3,283 |
| 2027 | 1,867 |
| 2028 | 2,402 |
| 2029 | 2,435 |
| After 2029 | — |
| Total | $9,987 |
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