v3.19.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2019
Dec. 31, 2018
Current Assets:    
Cash $ 9,091 $ 15,631
Restricted cash 20,149 18,200
Accounts receivable, net of allowance for doubtful accounts of $511 and $484 47,902 45,651
Prepaid expenses and other current assets 4,394 3,642
Current portion of notes receivable 1,438 979
Settlement assets 1,006 1,042
Total current assets 83,980 85,145
Notes receivable, less current portion 717 852
Property, equipment, and software, net 18,381 17,482
Goodwill 109,515 109,515
Intangible assets, net 206,921 124,637
Deferred income taxes, net 51,313 49,692
Other non-current assets 1,288 1,295
Total assets 472,115 388,618
Current liabilities:    
Accounts payable and accrued expenses 23,568 27,638
Accrued residual commissions 18,293 18,715
Customer deposits and advance payments 3,737 3,282
Borrowings outstanding under revolving credit facility 10,000 0
Current portion of long-term debt 3,293 3,293
Settlement obligations 13,381 11,132
Total current liabilities 72,272 64,060
Long-term debt, net of discounts and deferred financing costs 472,537 402,095
Other non-current liabilities 12,411 7,936
Total long-term liabilities 484,948 410,031
Total liabilities 557,220 474,091
Commitments and Contingencies
Stockholders' deficit:    
Common stock issued and outstanding 67 67
Additional paid-in capital 1,160 0
Accumulated deficit (91,986) (85,540)
Equity of stockholders of Priority Technology Holdings, Inc. (90,759) (85,473)
Non-controlling interest in a subsidiary 5,654 0
Total stockholders' deficit (85,105) (85,473)
Total liabilities and stockholders' deficit $ 472,115 $ 388,618

Source