Priority Technology Holdings, Inc.
For the period ended Jun 30, 2025. Filed Aug 7, 2025.
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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.
Jun 30, 2025 · Filed Aug 7, 2025
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6. Property, Equipment and Software
- Property, Equipment and Software
A summary of property, equipment and software, net was as follows:
| (in thousands) | June 30, 2025 | December 31, 2024 |
|---|---|---|
| Computer software | $115,355 | $104,683 |
| Equipment | 14,513 | 11,571 |
| Leasehold improvements | 2,734 | 2,718 |
| Furniture and fixtures | 1,382 | 1,365 |
| Property, equipment and software | 133,984 | 120,337 |
| Less: Accumulated depreciation | (77,992) | (70,258) |
| Capital work in-progress | 1,537 | 2,398 |
| Property, equipment and software, net | $57,529 | $52,477 |
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| (in thousands) | 2025 | 2024 | 2025 | 2024 |
| Depreciation expense | $4,075 | $3,428 | $7,937 | $6,598 |
Computer software represents purchased software and internally developed software that is used to provide the Company's services to its customers.
Fully depreciated assets are retained in property, equipment and software, net, until removed from service. Certain fully depreciated assets were removed from service during the three and six months ended June 30, 2025 and 2024.
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