Priority Technology Holdings Inc (NASDAQ: PRTH), a leading fintech company providing payments and banking solutions, saw its shares surge 5.16% in after-hours trading on Thursday, March 6th, following the release of its impressive fourth quarter and full year 2024 financial results.
The company reported record revenue of $227.1 million for the fourth quarter, a remarkable 13.9% increase year-over-year, 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) soared an impressive 800% to $0.18.
For the full year 2024, Priority Technology's revenue rose 16.4% to $879.7 million, adjusted EBITDA increased 21.3% to $204.3 million, and adjusted EPS surged 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.
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