Priority Technology (PRTH) Q4 2025 earnings summary

Executive summary

• FY 2025 revenue grew 8% year-over-year to $953.0 million, with adjusted gross profit up 14% to $374.7 million and adjusted EBITDA up 10% to $225.2 million.

• Adjusted EPS increased by $0.52 to $1.03, a 102% year-over-year rise.

• Customer accounts reached 1.8 million, with annual transaction volume of $150 billion and $1.7 billion in account balances.

• High-value Payables and Treasury Solutions segments contributed 62% of adjusted gross profit, supporting margin expansion.

• Acquisitions, including Dealer Merchant Services and DMS, expanded vertical reach and contributed to growth.

Financial highlights

• Q4 2025 revenue was $247.1 million, up 9% year-over-year; full year revenue was $953.0 million (+8.3%).

• Q4 adjusted gross profit was $100.2 million (+19%), with margin at 40.6% (+360 bps); full year adjusted gross profit was $374.7 million (+14.2%), margin 39.3% (+200 bps).

• Q4 adjusted EBITDA was $60.1 million (+16%), and full year adjusted EBITDA was $225.2 million (+10%).

• Adjusted EPS-diluted for Q4 was $0.27 (+50% YoY); full year was $1.03 (+102% YoY).

• Payables and Treasury Solutions contributed 62% of adjusted gross profit for the year.

Outlook and guidance

• FY 2026 revenue guidance: $1.01–$1.04 billion (6–9% growth, 4–7% organic).

• Adjusted gross profit expected at $405–$425 million; adjusted EBITDA forecast: $230–$245 million.

• Margin expansion of 75–100 basis points expected, with high single-digit revenue growth and margin offsets from lower interest rates and increased platform investments.

• Merchant Solutions revenue growth expected at 6–8%, Payables at 8–10%, and Treasury Solutions in low double digits.