| Summary of Quarterly Financial Information (Unaudited) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (in thousands, except per share amounts) |
|
2020 |
|
|
1Q |
|
2Q |
|
3Q |
|
4Q |
|
Year |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Revenues |
|
$ |
96,933 |
|
|
$ |
92,356 |
|
|
$ |
108,962 |
|
|
$ |
106,091 |
|
|
$ |
404,342 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating expenses |
|
93,374 |
|
|
88,325 |
|
|
101,920 |
|
|
99,862 |
|
|
383,481 |
|
|
|
|
|
|
|
|
|
|
|
|
| Income from operations |
|
3,559 |
|
|
4,031 |
|
|
7,042 |
|
|
6,229 |
|
|
20,861 |
|
| Interest expense |
|
(10,315) |
|
|
(11,668) |
|
|
(13,471) |
|
|
(9,385) |
|
|
(44,839) |
|
| Gain on sale of business |
|
— |
|
|
— |
|
|
107,239 |
|
|
— |
|
|
107,239 |
|
| Debt extinguishment and modification expenses |
|
(376) |
|
|
— |
|
|
(1,523) |
|
|
— |
|
|
(1,899) |
|
| Other, net |
|
30 |
|
|
194 |
|
|
190 |
|
|
182 |
|
|
596 |
|
| Income tax (benefit) expense |
|
(1,233) |
|
|
415 |
|
|
13,737 |
|
|
(2,020) |
|
|
10,899 |
|
| Net (loss) income |
|
(5,869) |
|
|
(7,858) |
|
|
85,740 |
|
|
(954) |
|
|
71,059 |
|
| Income attributable to non-controlling interests |
|
— |
|
|
— |
|
|
(45,348) |
|
|
(50) |
|
|
(45,398) |
|
| Net (loss) income attributable to stockholders of Priority Technology Holdings, Inc. |
|
$ |
(5,869) |
|
|
(7,858) |
|
|
$ |
40,392 |
|
|
$ |
(1,004) |
|
|
$ |
25,661 |
|
|
|
|
|
|
|
|
|
|
|
|
| Basic and diluted (loss) income per common share (1) |
|
$ |
(0.09) |
|
|
$ |
(0.12) |
|
|
$ |
0.60 |
|
|
$ |
(0.01) |
|
|
$ |
0.38 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (in thousands, except per share amounts) |
|
2019 |
|
|
1Q |
|
2Q |
|
3Q |
|
4Q |
|
Year |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Revenues |
|
$ |
87,646 |
|
|
$ |
92,142 |
|
|
$ |
93,883 |
|
|
$ |
98,183 |
|
|
$ |
371,854 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating expenses |
|
86,680 |
|
|
89,706 |
|
|
91,158 |
|
|
97,126 |
|
|
364,670 |
|
|
|
|
|
|
|
|
|
|
|
|
| Income from operations |
|
966 |
|
|
2,436 |
|
|
2,725 |
|
|
1,057 |
|
|
7,184 |
|
| Interest expense |
|
(9,363) |
|
|
(10,776) |
|
|
(10,463) |
|
|
(10,051) |
|
|
(40,653) |
|
| Other, net |
|
227 |
|
|
138 |
|
|
158 |
|
|
187 |
|
|
710 |
|
| Income tax (benefit) expense |
|
(1,724) |
|
|
5,928 |
|
|
(1,736) |
|
|
(1,638) |
|
|
830 |
|
| Net loss |
|
$ |
(6,446) |
|
|
$ |
(14,130) |
|
|
$ |
(5,844) |
|
|
$ |
(7,169) |
|
|
$ |
(33,589) |
|
|
|
|
|
|
|
|
|
|
|
|
| Basic and diluted loss per common share (1) |
|
$ |
(0.10) |
|
|
$ |
(0.21) |
|
|
$ |
(0.09) |
|
|
$ |
(0.11) |
|
|
$ |
(0.50) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) May not be additive to the net (loss) income per common share amounts for the year due to the calculation provision of ASC 260, Earnings Per Share.
|