Priority Technology Holdings Inc. (NASDAQ: PRTH), a leading fintech company providing payments and banking solutions, reported record financial results for the fourth quarter and full year 2024, sending its shares soaring over 12% in pre-market trading on Thursday.

For the fourth quarter ended December 31, 2024, the company's revenue surged 13.9% year-over-year to $227.1 million, driven by strong performance across its diverse business segments. Adjusted EBITDA (a non-GAAP measure) grew 16% to $51.7 million, while adjusted earnings per share (EPS) jumped a remarkable 800% to $0.18.

The full-year 2024 results were equally impressive, with revenue rising 16.4% to $879.7 million, adjusted EBITDA increasing 21.3% to $204.3 million, and adjusted EPS soaring 750% to $0.51. The company's adjusted gross profit margin also expanded by 90 basis points to 37.3%, reflecting improved operational efficiency and cost management.

Priority Technology's strong growth was fueled by robust demand across its SMB Payments, B2B Payments, and Enterprise Payments segments. The SMB Payments segment, which provides payment solutions to small and medium-sized businesses, reported a 9.2% increase in revenue and a 3.8% rise in adjusted EBITDA. The B2B Payments segment, focused on business-to-business transactions, saw revenue surge 117.1% and adjusted EBITDA soar 237.8%. The Enterprise Payments segment, serving larger enterprises, experienced a 36.6% revenue growth and a 40.1% increase in adjusted EBITDA.

Looking ahead, Priority Technology provided an optimistic outlook for the full year 2025, forecasting revenue in the range of $965 million to $1 billion, representing a growth rate of 10% to 14% compared to fiscal 2024. The company also expects adjusted EBITDA to grow by 8% to 13%, ranging from $220 million to $230 million.