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PRTH Priority Technology

Priority is a leading provider of merchant acquiring, integrated payment software and corporate payment solutions, offering unique product and service capabilities to its merchant network and distribution partners. Priority's enterprise operates from a purpose-built payments infrastructure that includes tailored customer service offerings and bespoke technology development, allowing the Company to provide end-to-end solutions for payment and payment-adjacent software.

Company profile

Ticker
PRTH, PRTHW
Exchange
Website
CEO
Thomas C. Priore
Employees
Incorporated
Location
Fiscal year end
Former names
M I Acquisitions, Inc.
SEC CIK
Subsidiaries
Priority Holdings, LLC • Priority Payment Systems Holdings, LLC • Priority Newco, LLC • Pipeline Cynergy Holdings, LLC • Pipeline Cynergy, Inc. • Cynergy Data, LLC • Cynergy Holdings, LLC • Cynergy Prosperity Plus, LLC • Priority Payment Systems, LLC • Fincor Systems, LLC ...

PRTH stock data

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Calendar

16 Aug 21
17 Oct 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 29.34M 29.34M 29.34M 29.34M 29.34M 29.34M
Cash burn (monthly) 11.81M 1.8M (positive/no burn) (positive/no burn) 10.57M 656.17K
Cash used (since last report) 42.25M 6.46M n/a n/a 37.81M 2.35M
Cash remaining -12.91M 22.88M n/a n/a -8.47M 26.99M
Runway (months of cash) -1.1 12.7 n/a n/a -0.8 41.1

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Oct 21 Favilla Christina M Common Stock Option exercise Acquire M No No 0 2,931 0 61,985
1 Oct 21 Favilla Christina M RSU Common Stock Option exercise Dispose M No No 0 2,931 0 2,931
1 Oct 21 Davis Marietta Common Stock Option exercise Acquire M No No 0 2,931 0 8,793
1 Oct 21 Davis Marietta RSU Common Stock Option exercise Dispose M No No 0 2,931 0 2,931
1 Oct 21 Passilla Michael Common Stock Option exercise Acquire M No No 0 2,931 0 61,985
1 Oct 21 Passilla Michael RSU Common Stock Option exercise Dispose M No No 0 2,931 0 2,931
1 Oct 21 Stephen W Hipp Common Stock Option exercise Acquire M No No 0 2,931 0 67,961
1 Oct 21 Stephen W Hipp RSU Common Stock Option exercise Dispose M No No 0 2,931 0 2,931
14 Sep 21 Stephen W Hipp Common Stock Buy Acquire P No No 5.42 2,000 10.84K 65,030

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

6.8% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 36 39 -7.7%
Opened positions 1 8 -87.5%
Closed positions 4 2 +100.0%
Increased positions 19 15 +26.7%
Reduced positions 13 11 +18.2%
13F shares
Current Prev Q Change
Total value 145.58M 186.24M -21.8%
Total shares 4.68M 4.62M +1.2%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
TimesSquare Capital Management 1.85M $14.14M -7.3%
FMR 1.2M $9.15M +3.9%
BLK Blackrock 467.08K $3.57M +22.5%
Invenomic Capital Management 224.25K $1.71M +11.5%
BMO Bank of Montreal 178.62K $1.39M +39.4%
Geode Capital Management 162.08K $1.24M +16.8%
WFC Wells Fargo & Co. 128.87K $984K +9.8%
STT State Street 111.74K $854K +3.4%
NTRS Northern Trust 87.08K $665K -12.0%
Vanguard 69.61K $532K +14.4%
Largest transactions
Shares Bought/sold Change
TimesSquare Capital Management 1.85M -144.8K -7.3%
BLK Blackrock 467.08K +85.79K +22.5%
BMO Bank of Montreal 178.62K +50.5K +39.4%
FMR 1.2M +45.06K +3.9%
Geode Capital Management 162.08K +23.26K +16.8%
Invenomic Capital Management 224.25K +23.1K +11.5%
UBS UBS Group AG - Registered Shares 1.16K -13.44K -92.1%
VIRT Virtu Financial 0 -12.06K EXIT
NTRS Northern Trust 87.08K -11.84K -12.0%
WFC Wells Fargo & Co. 128.87K +11.52K +9.8%

Financial report summary

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Competition
FiservWorldpay
Risks
  • Our business has been and is likely to continue to be negatively affected by the recent COVID-19 outbreak.
  • Unauthorized disclosure of merchant or cardholder data, whether through breach of our computer systems, computer viruses, or otherwise, could expose us to liability, protracted and costly litigation and damage our reputation.
  • Our systems or our third-party providers’ systems may fail, which could interrupt our service, cause us to lose business, increase our costs and expose us to liability.
  • The payment processing industry is highly competitive and such competition is likely to increase, which may adversely influence the prices we can charge to merchants for our services and the compensation we must pay to our distribution partners, and as a result, our profit margins.
  • Changes in card association and debit network fees or products could increase costs or otherwise limit our operations.
  • Changes in payment network rules or standards could adversely affect our business, financial condition and results of operations.
  • In order to remain competitive and to continue to increase our revenues and earnings, we must continually update our products and services, a process which could result in increased costs and the loss of revenues, earnings, merchants and distribution partners if the new products and services do not perform as intended or are not accepted in the marketplace.
  • Acquisitions create certain risks and may adversely affect our business, financial condition, or results of operations.
  • We are subject to economic and political risk, the business cycles of our merchants and distribution partners and the overall level of consumer and commercial spending, which could negatively impact our business, financial condition and results of operations.
  • Global economic, political and market conditions affecting the U.S. markets may adversely affect our business, results of operations and financial condition, including our revenue growth and profitability.
  • We rely on financial institutions and other service and technology providers. If they fail or discontinue providing their services or technology generally or to us specifically, our ability to provide services to merchants may be interrupted, and, as a result, our business, financial condition and results of operations could be adversely impacted.
  • Fraud by merchants or others could cause us to incur losses.
  • We incur liability when our merchants refuse or cannot reimburse us for chargebacks resolved in favor of their customers.
  • The loss of, for example, key personnel or of our ability to attract, recruit, retain and develop qualified employees could adversely affect our business, financial condition and results of operations.
  • Legal proceedings could have a material adverse effect on our business, financial condition or results of operations.
  • We are subject to extensive government regulation, and any new laws and regulations, industry standards or revisions made to existing laws, regulations or industry standards affecting the electronic payments industry may have an unfavorable impact on our business, financial condition and results of operations.
  • We may not be able to successfully manage our intellectual property and may be subject to infringement claims.
  • Changes in tax laws and regulations could adversely affect our results of operations and cash flows from operations.
  • Our risk management policies and procedures may not be fully effective in mitigating our risk exposure in all market environments or against all types of risks.
  • We face risks related to our substantial indebtedness.
  • The credit agreements governing our existing credit facilities and any other debt instruments we may issue in the future will contain restrictive covenants that may impair our ability to conduct business.
  • Because we have no current plans to pay cash dividends on our common stock for the foreseeable future, you may not receive any return on investment unless you sell your common stock for a price greater than that which you paid for it.
  • Mr. Thomas Priore, our President, Chief Executive Officer and Chairman, controls the Company, and his interests may conflict with ours or yours in the future.
  • We may redeem your unexpired warrants prior to their exercise at a time that is disadvantageous to you, thereby making your warrants worthless.
  • The liquidity of the Warrants may be limited.
Management Discussion
  • This section includes a discussion and analysis of our results of operations for the three months ended June 30, 2021 (or second quarter 2021) compared to the three months ended June 30, 2020 (or second quarter 2020), and the six months ended June 30, 2021 (or first half 2021) compared to the six months ended June 30, 2020 (or first half 2020). We have derived this data, except key indicators for merchant bankcard processing dollar values and transaction volumes, from our unaudited condensed consolidated financial statements included elsewhere in this Quarterly Report on Form 10-Q and our audited consolidated financial statements included in our latest Annual Report on Form 10-K.
  • *Calculation is not meaningful ("nm").
  • *Calculation is not meaningful ("nm").
Content analysis
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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. junior Avg
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