Summary of Quarterly Financial Information (Unaudited) |
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(in thousands, except per share amounts) |
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2020 |
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1Q |
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2Q |
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3Q |
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4Q |
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Year |
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Revenues |
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$ |
96,933 |
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$ |
92,356 |
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$ |
108,962 |
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$ |
106,091 |
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$ |
404,342 |
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Operating expenses |
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93,374 |
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88,325 |
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101,920 |
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99,862 |
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383,481 |
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Income from operations |
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3,559 |
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4,031 |
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7,042 |
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6,229 |
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20,861 |
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Interest expense |
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(10,315) |
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(11,668) |
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(13,471) |
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(9,385) |
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(44,839) |
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Gain on sale of business |
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— |
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— |
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107,239 |
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— |
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107,239 |
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Debt extinguishment and modification expenses |
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(376) |
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— |
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(1,523) |
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— |
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(1,899) |
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Other, net |
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30 |
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194 |
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190 |
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182 |
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596 |
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Income tax (benefit) expense |
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(1,233) |
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415 |
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13,737 |
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(2,020) |
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10,899 |
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Net (loss) income |
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(5,869) |
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(7,858) |
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85,740 |
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(954) |
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71,059 |
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Income attributable to non-controlling interests |
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— |
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— |
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(45,348) |
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(50) |
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(45,398) |
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Net (loss) income attributable to stockholders of Priority Technology Holdings, Inc. |
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$ |
(5,869) |
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(7,858) |
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$ |
40,392 |
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$ |
(1,004) |
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$ |
25,661 |
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Basic and diluted (loss) income per common share (1) |
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$ |
(0.09) |
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$ |
(0.12) |
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$ |
0.60 |
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$ |
(0.01) |
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$ |
0.38 |
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(in thousands, except per share amounts) |
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2019 |
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1Q |
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2Q |
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3Q |
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4Q |
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Year |
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Revenues |
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$ |
87,646 |
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$ |
92,142 |
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$ |
93,883 |
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$ |
98,183 |
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$ |
371,854 |
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Operating expenses |
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86,680 |
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89,706 |
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91,158 |
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97,126 |
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364,670 |
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Income from operations |
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966 |
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2,436 |
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2,725 |
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1,057 |
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7,184 |
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Interest expense |
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(9,363) |
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(10,776) |
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(10,463) |
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(10,051) |
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(40,653) |
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Other, net |
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227 |
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138 |
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158 |
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187 |
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710 |
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Income tax (benefit) expense |
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(1,724) |
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5,928 |
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(1,736) |
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(1,638) |
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830 |
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Net loss |
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$ |
(6,446) |
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$ |
(14,130) |
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$ |
(5,844) |
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$ |
(7,169) |
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$ |
(33,589) |
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Basic and diluted loss per common share (1) |
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$ |
(0.10) |
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$ |
(0.21) |
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$ |
(0.09) |
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$ |
(0.11) |
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$ |
(0.50) |
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(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.
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