Priority Technology (NASDAQ:PRTH) reported higher first-quarter revenue and profit as growth in its Payables and Treasury Solutions businesses continued to outpace its Merchant Solutions segment, management said on the company’s earnings call.
Chairman and Chief Executive Officer Tom Priore said the company delivered “strong growth in both revenue and profits” during the first quarter. Net revenue rose 11% year over year to $249.6 million, while adjusted gross profit increased 13% to $98.8 million. Adjusted EBITDA also rose 13% to $58.1 million, and adjusted earnings per share increased 27% to $0.28.
