0001653558-26-000102 | 10-Q | XBRL Viewer | Priority Technology Holdings INC

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Goodwill and Intangible Assets - Schedule of Goodwill Allocation (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Goodwill [Line Items]
Goodwill	$ 416,535	$ 416,641
Merchant Solutions
Goodwill [Line Items]
Goodwill	158,298	158,298
Treasury Solutions
Goodwill [Line Items]
Goodwill	250,997	251,103
Payables
Goodwill [Line Items]
Goodwill	$ 7,240	$ 7,240

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

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- Definition

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+ Details

Revenues

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

Revenues

Disaggregation of Revenues

The following table presents a disaggregation of our consolidated revenues by type:


	Three Months Ended March 31,
(in thousands)		2026		2025
Revenue Type:
Merchant card fees		$	185,933	$	167,079
Money transmission services		41,748		37,449
Outsourced services and other services(2)		19,826		17,002
Equipment		2,051		3,100
Total revenues(1)		$	249,558	$	224,630

(1)Includes contracts with an original duration of one year or less and variable consideration under a stand-ready series of distinct days of service. The aggregate fixed consideration portion of customer contracts with an initial contract duration greater than one year is not material.

(2)Approximately $14.8 million and $12.6 million of interest income on customer funds for the three months ended March 31, 2026 and 2025, respectively, is included in outsourced services and other services revenue in the table above. Approximately $1.0 million and $1.1 million of interest income on corporate funds for the three months ended March 31, 2026 and 2025, respectively, is included in other income, net on the Company's Unaudited Consolidated Statements of Operations and Comprehensive Income and not reflected in the table above.

The following table presents a disaggregation of our consolidated revenues by segment:


	Three Months Ended March 31, 2026
(in thousands)	Merchant Card Fees		Money Transmission Services		Outsourced and Other Services		Equipment		Total
Segment
Merchant Solutions	$	158,499	$	—	$	1,236	$	2,051	$	161,786
Payables	27,195		—		5,246		—		32,441
Treasury Solutions	3,277		41,748		13,815		—		58,840
Eliminations	(3,038)		—		(471)		—		(3,509)
Total revenues	$	185,933	$	41,748	$	19,826	$	2,051	$	249,558


	Three Months Ended March 31, 2025
(in thousands)	Merchant Card Fees		Money Transmission Services		Outsourced and Other Services		Equipment		Total
Segment
Merchant Solutions	$	147,481	$	—	$	1,109	$	3,100	$	151,690
Payables	19,769		—		4,149		—		23,918
Treasury Solutions	607		37,449		12,032		—		50,088
Eliminations	(778)		—		(288)		—		(1,066)
Total revenues	$	167,079	$	37,449	$	17,002	$	3,100	$	224,630

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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+ Details

Acquisitions

3 Months Ended

Mar. 31, 2026

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Acquisitions

Acquisitions that occurred in prior years

Payslate

On January 21, 2025, Priority’s wholly owned subsidiary, Priority Canada Acquisition Company, Inc., acquired 100% of the equity interest in Payslate Inc. (Canada), and its subsidiary Rentmoola Payment Solutions Ltd (United Kingdom) (jointly referred as "Letus business"). The Letus business is engaged in processing of rent payments for property management companies in the United States and Canada. The acquisition will provide synergy opportunities to the Company's Treasury Solutions rent payment business and expand Priority's services in Canada. The acquisition was accounted for under the acquisition method of accounting in accordance with ASC 805, Business Combinations. The total purchase consideration was $8.8 million, consisting of $4.4 million in cash consideration funded by the Company’s cash flows, deferred consideration of $4.3 million and contingent consideration of $0.1 million.

The deferred consideration of $4.3 million was recorded at the fair value on the acquisition date. The deferred consideration will be paid monthly equal to 40% of gross profit under the agreement and total payments will not exceed $6.5 million. Any amount remaining but unpaid will be paid in full by January 21, 2030. The Company will accrete interest expense on the deferred consideration throughout the period.

The final purchase price allocation is set forth in the table below:


(in thousands)
Consideration:
Cash(1)	$	4,627
Deferred consideration (2)	4,282
Contingent consideration(3)	104
Less: cash acquired	(175)
Total purchase consideration, net of cash acquired	$	8,838

Recognized amounts of assets acquired and liabilities assumed(4):
Accounts receivable	$	149
Prepaid expenses	229
Property, equipment and software	8
Goodwill	6,070
Intangible assets:
Customer relationships	1,555
Trademarks	480
Technology	706
Accounts payable and accrued expenses	(359)
Total purchase consideration	$	8,838

(1)Cash at closing net of adjustments from estimated net working capital to actual working capital.

(2)The fair value of the deferred consideration was determined utilizing a Monte Carlo simulation. The payments were calculated based on the path for the simulated metrics and the contractual terms of the deferred consideration payments

and were discounted to present value at a rate reflecting a risk associated with the payoffs. The fair value was estimated to be the average present value of the deferred consideration payments over all iterations of the simulation.

(3)The contingent consideration represents the fair value of the share of net operating loss carryforwards owed to the seller in the future.

(4)Includes deferred tax asset of $3.8 million which has a full valuation allowance.

Goodwill of $6.1 million arising from the acquisition primarily consists of the expected synergies and other benefits from combining operations. There was no goodwill deductible for income tax purposes. The goodwill was 100% allocated to the Company's Treasury Solutions reportable segment.

Sila

On August 26, 2025, Priority's wholly owned subsidiary, Priority Tech Ventures, LLC, through it's merger subsidiary, acquired total outstanding shares including all voting interests in Sila Inc. ("the "Sila business" or "Sila"). Sila is a payment platform that enables ACH transfers, instant settlement, digital wallets and built-in compliance through a simple application programming interface. Technology acquired in this transaction will supplement Priority's current treasury solutions. The acquisition was accounted for under the acquisition method of accounting in accordance with ASC 805, Business Combinations. The total purchase consideration was $7.2 million, consisting of $3.4 million in cash consideration funded by the Company's cash flows, and contingent consideration of $3.8 million for contractual earn-outs and additional contingent consideration. Earn-outs will be paid as a percentage of gross profit when certain thresholds are met and additional contingent considerations will be paid based on utilization of the seller's carryforward tax losses. The purchase price is considered preliminary pending finalization of customary adjustments from timing differences.

The contingent consideration for the contractual earn-outs was recorded at the fair value of $3.9 million on the acquisition date. The contingent consideration will be paid quarterly subject to terms and conditions noted within the agreement over a period of seven years and total payments will not exceed $17.0 million.

The preliminary purchase price allocation is set forth in the table below:


(in thousands)
Consideration:
Cash(1)(4)	$	3,449
Contingent consideration (2)(4)	3,881
Less: cash acquired	(100)
Total purchase consideration, net of cash acquired	$	7,230

Recognized amounts of assets acquired and liabilities assumed:
Accounts receivable(4)	$	68
Prepaid expenses(4)	346
Other noncurrent assets(3)(4)	9,522
Intangible assets:
Trademarks(4)	772
Technology(4)	943
Accounts payable and accrued expenses(4)	(386)
Customer deposits	(46)
Fair value of net assets acquired	$	11,219

Estimated bargain purchase gain(4)	$	3,989

(1)Cash at closing net of adjustments from estimated net working capital and closing cash.

payments and were discounted to present value at a rate reflecting a risk associated with the payoffs. The fair value was estimated to be the average present value of the contingent consideration payments over all iterations of the simulation. The contingent consideration represents the fair value of the contractual earn-outs and the share of net operating loss carryforwards owed to the seller in the future.

(3)Includes a deferred tax asset of $9.5 million.

(4)During the fourth quarter of 2025, the Company recorded measurement period adjustments due to additional information received that existed on the acquisition date.

The fair value of acquired assets and assumed liabilities exceeded the consideration paid, resulting in a bargain purchase gain. The Company reviewed its acquisition accounting methods, confirmed all assets and liabilities were properly identified, and ensured measurements reflected all consideration as of the closing date. The gain was primarily due to recognizing a deferred tax asset recorded in accordance with ASC 740 related to Sila's historical net operating losses. The bargain purchase gain is recorded in other income, net, in the Unaudited Consolidated Statements of Operations and Comprehensive Income.

DMS

On October 1, 2025, Priority's subsidiary, Priority DMS, LLC, entered into the asset purchase and contribution agreement with DMSJV, LLC ("DMS"), to acquire substantially all of the assets of DMS, including all voting interests. DMS provides credit card processing solutions to automotive dealerships via marketing and selling card and ACH processing services and ancillary services including POS systems, payment gateways, payment processing and authorization, clearing, and settlement for credit card, debit and ACH transactions, which will supplement the Company's Merchant Solutions reportable segment. The acquisition was accounted for under the acquisition method of accounting in accordance with ASC 805, Business Combinations. The total purchase consideration was $57.9 million, consisting of $31.5 million in cash consideration funded by the Company's term loan facility, deferred consideration of $2.8 million, contingent consideration of $17.1 million for contractual earn-outs and $6.6 million in non-voting subsidiary shares issued to the sellers. Earn-outs will be paid as a percentage of gross profit when certain thresholds are met. The purchase price is considered preliminary pending finalization of customary adjustments from timing differences.

The contingent consideration for the contractual earn-outs was recorded at the fair value of $17.1 million on the acquisition date. The contingent consideration will be paid when an initial cumulative threshold for gross profit is met, subject to terms and conditions noted within the agreement, over a period of at least four years and total payments will not exceed $22.5 million.

The preliminary purchase price allocation is set forth in the table below:


(in thousands)
Consideration:
Cash	$	31,500
Contingent consideration(2)	17,066
Common equity of the Acquiring Entity(3)	6,562
Deferred consideration(1)	2,801
Total purchase consideration, net of cash acquired	$	57,929

Recognized amounts of assets acquired and liabilities assumed:
Accounts receivable	$	11
Inventory	145
Other noncurrent assets	7
Goodwill	34,159
Intangible assets:
Customer relationships	17,187
Trademarks	3,222
Technology	3,277
Accounts payable and accrued expenses	(79)
Total purchase consideration	$	57,929

(1)The deferred consideration represents the fair value of the amount to be remitted upon direction of the seller no later than four years from the acquisition date.

(2)The fair value of the contingent consideration was determined utilizing a Monte Carlo simulation. The payments were calculated based on the path for the simulated metrics and the contractual terms of the deferred consideration payments and were discounted to present value at a rate reflecting a risk associated with the payoffs. The fair value was estimated to be the average present value of the contingent consideration payments over all iterations of the simulation.

(3)The fair value determination for the Class B units utilized an option pricing model. The seller may request to convert 50% of the Class B Units to shares in the Company no later than five years from the acquisition date.

Goodwill of $34.2 million arising from the acquisition primarily consists of the expected synergies and other benefits from combining operations. There was no goodwill deductible for income tax purposes. The goodwill was 100% allocated to the Company's Merchant Solutions reportable segment.

Other Acquisitions

Boom Commerce

On August 18, 2025, Priority Boom, LLC, a subsidiary of Priority, completed its acquisition of certain residual portfolio rights for a purchase price of $73.5 million in cash, $13.5 million in Common shares of Priority and earn-out payments not to exceed $17.0 million based on meeting certain thresholds over a three-year period from the date of acquisition. The transaction did not meet the definition of a business; therefore, it was accounted for as an asset purchase under which the cost of the acquisition was allocated to the acquired assets based on relative fair values. As an asset purchase, additional purchase price (in the form of earn-outs) is accounted for when payment to the seller becomes payable and is added to the carrying value of the asset, as long as it does not meet the definition of a derivative.

- Definition

The entire disclosure for business combination.

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-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-1

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-3

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-1

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-4

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479581/805-30-50-4

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-1

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-1

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)(4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 40
-Name Accounting Standards Codification
-Section 45
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479326/805-40-45-1

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 30
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/805-30/tableOfContent

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/805-20/tableOfContent

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-7

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-5

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 10
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/805-10/tableOfContent

+ Details

Segment Information - Schedule of Reconciliation of Adjusted EBITDA to Income (Loss) Before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Reconciliation of Segment Adjusted EBITDA to income before income taxes
Segment Adjusted EBITDA	$ 79,865	$ 71,663
Adjustment for corporate items	216,168	192,005
Revenues	249,558	224,630
Depreciation and amortization	(17,615)	(13,777)
Interest expense	(21,016)	(23,176)
Debt modification and extinguishment expenses	0	(38)
Selling, general and administrative (non-recurring)	(3,969)	(2,199)
Non-cash stock-based compensation	(2,088)	(1,586)
Income before income taxes	13,406	10,518
Corporate Reconciling Items And Eliminations
Reconciliation of Segment Adjusted EBITDA to income before income taxes
Adjustment for corporate items	(18,262)	(19,303)
Eliminations
Reconciliation of Segment Adjusted EBITDA to income before income taxes
Revenues	$ (3,509)	$ (1,066)

Goodwill and Intangible Assets - Schedule of Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2026 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 416,641
Foreign currency translation adjustments	(106)
Goodwill, ending balance	$ 416,535

- Definition

+ References

+ Details

Debt Obligations

3 Months Ended

Mar. 31, 2026

Debt Disclosure [Abstract]

Debt Obligations

Outstanding debt obligations consisted of the following:


(in thousands)	March 31, 2026		December 31, 2025
2024 Credit Agreement
Term facility - matures July 31, 2032, interest rate of 7.42% and 7.47% at March 31, 2026 and December 31, 2025, respectively	$	1,020,000	$	1,020,000
Revolving credit facility - $100.0 million line matures July 31, 2030, interest rate of 7.17% and 7.22% at March 31, 2026 and December 31, 2025, respectively	—		—
Residual Finance Credit Facility
Term facility - matures August 18, 2031, interest rate of 9.93% and 9.98% at March 31, 2026 and December 31, 2025, respectively	42,003		35,394
Total debt obligations	1,062,003		1,055,394
Less: current portion of long-term debt	(525)		—
Less: unamortized debt discounts and deferred financing costs	(15,569)		(16,036)
Long-term debt, net	$	1,045,909	$	1,039,358

Interest Expense and Amortization of Deferred Loan Costs and Discounts

Deferred financing costs and debt discounts are amortized using the effective interest method over the remaining term of the respective debt and are recorded as a component of interest expense. Unamortized deferred financing costs and debt discounts are included in long-term debt on the Company's Unaudited Consolidated Balance Sheets.

Interest expense for outstanding debt, including fees for undrawn amounts and amortization of deferred financing costs and debt discounts was as follows:


	Three Months Ended March 31,
(in thousands)		2026		2025
Interest expense(1)(2)		$	21,016	$	23,176

(1)Included in interest expense is $0.4 million and $1.0 million related to the accretion of deferred consideration from acquisitions for the three months ended March 31, 2026 and 2025, respectively.

(2)Interest expense included amortization of deferred financing costs and debt discounts of $0.5 million and $0.4 million for the three months ended March 31, 2026 and 2025, respectively.

Debt Covenants

The 2024 Credit Agreement contains representations and warranties, financial and collateral requirements, mandatory payment events, events of default and affirmative and negative covenants, including without limitation, covenants that restrict among other things, the ability to create liens, pay dividends or distribute assets from the loan parties to the Company, merge or consolidate, dispose of assets, incur additional indebtedness, make certain investments or acquisitions, enter into certain transactions (including with affiliates) and to enter into certain leases.

If the aggregate principal amount of outstanding revolving loans and letters of credit under the 2024 Credit Agreement exceeds 35% of the total revolving credit facility thereunder, the Company is required to comply with certain restrictions on its Total Net Leverage Ratio. If applicable, the maximum permitted Total Net Leverage Ratio is: 1) 6.90:1.00 at each fiscal quarter ended September 30, 2025 through March 31, 2026; 2) 6.40:1.00 at each fiscal quarter ended June 30, 2026 and each fiscal quarter thereafter.

The Residual Finance credit facility contains customary representations and warranties, financial and collateral requirements, mandatory payment events, events of default and affirmative and negative covenants, including without limitation, covenants that restrict among other things, the ability to create liens, pay dividends or distribute assets from the loan parties to the

Company, merge or consolidate, dispose of assets, incur additional indebtedness, make certain investments or acquisitions, and enter into certain transactions (including with affiliates).

The Residual Finance credit facility requires the Company to comply with certain restrictions including minimum liquidity of $2.0 million, minimum tangible net worth of $5.0 million, maximum default ratio of 2.5%, maximum delinquency ratio of 5.0%, and a minimum excess spread ratio of 1.00 to 1.00.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

+ Details

Basis of Presentation and Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2026

Accounting Policies [Abstract]

Schedule of Accounts Receivable, Allowance for Credit Loss

A reconciliation of the beginning and ending amount of allowance for expected losses is as follows:


(in thousands)	Accounts receivable		Settlement assets
Balance at December 31, 2025	$	(6,297)	$	(7,069)
Charge-offs (recoveries), net	457		4,177
Provision	(377)		(2,329)
Balance at March 31, 2026	$	(6,217)	$	(5,221)

Schedule of Financing Receivable, Allowance for Credit Loss

A reconciliation of the beginning and ending amount of allowance for expected losses is as follows:


(in thousands)	Accounts receivable		Settlement assets
Balance at December 31, 2025	$	(6,297)	$	(7,069)
Charge-offs (recoveries), net	457		4,177
Provision	(377)		(2,329)
Balance at March 31, 2026	$	(6,217)	$	(5,221)

Property, Equipment and Software (Tables)

3 Months Ended

Mar. 31, 2026

Property, Plant and Equipment [Abstract]

Schedule of Property, Equipment and Software

A summary of property, equipment and software, net was as follows:


(in thousands)	March 31, 2026		December 31, 2025
Computer software	$	130,056	$	125,073
Equipment	13,821		14,037
Leasehold improvements	2,592		2,621
Furniture and fixtures	872		875
Property, equipment and software	147,341		142,606
Less: Accumulated depreciation	(90,577)		(86,245)
Capital work in-progress	3,021		2,275
Property, equipment and software, net	$	59,785	$	58,636


	Three Months Ended March 31,
(in thousands)		2026		2025
Depreciation expense		$	4,373	$	3,862

Notes Receivable - Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
Notes Receivable - Narrative (Details) - USD ($)	Mar. 31, 2026	Dec. 31, 2025
Financing Receivable, Allowance for Credit Loss [Line Items]
Notes receivable	$ 27,750,000	$ 19,691,000
Notes receivable, average interest rate	13.10%	13.60%
Notes receivable allowance for credit loss	$ 0	$ 0
Minimum
Financing Receivable, Allowance for Credit Loss [Line Items]
Notes receivable term	1 year
Maximum
Financing Receivable, Allowance for Credit Loss [Line Items]
Notes receivable term	5 years

- Definition

Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.

+ References + Details

Segment Information (Tables)

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Schedule of Segment Reporting Information by Segment

Information on reportable segments and reconciliations to income before income taxes are as follows:


	Three Months Ended March 31, 2026
(in thousands)	Merchant Solutions		Payables		Treasury Solutions		Total
Revenue from external customers	$	160,278	$	32,029	$	57,251	$	249,558
Intersegment revenue	1,508		412		1,589		3,509
	161,786		32,441		58,840		253,067
Elimination of intersegment revenues							(3,509)
Total consolidated revenues							249,558
Less: Cost of revenue (excludes depreciation and amortization)(1)	(125,097)		(23,218)		(5,974)
Less: Other operating expenses(1)(2)	(9,830)		(3,815)		(6,273)
Add: Other segment items(3)	881		46		78
Segment Adjusted EBITDA	$	27,740	$	5,454	$	46,671	$	79,865

Reconciliation of Segment Adjusted EBITDA to income before income taxes
Segment Adjusted EBITDA							$	79,865
Adjustment for corporate items(4)							(18,262)
Intersegment revenue elimination							(3,509)
Depreciation and amortization							(17,615)
Interest expense							(21,016)

Selling, general and administrative (non-recurring)							(3,969)

Non-cash stock-based compensation							(2,088)
Income before income taxes							$	13,406

(1)The significant expense categories and amounts align with the segment level information regularly provided to the CODM.

(2)Other operating expenses including salary and employee benefits, and selling, general and administrative expenses.

(3)Other segment items for each reportable segment include other income, net, and stock-based compensation expense.

(4)Adjustment for corporate items include:


(in thousands)	March 31, 2026
Elimination of cost of services (excludes depreciation and amortization)	$	3,502
Other operating expenses(2)	(27,847)
Other items(5)	6,083
	$	(18,262)

(5)Other items include other income net, stock-based compensation expense, and selling general and administrative (non-recurring expense).


(in thousands)	Other specified segment disclosure
	Three Months Ended March 31, 2026
	Merchant Solutions		Payables		Treasury Solutions		Total
Depreciation and amortization	$	9,917	$	1,288	$	5,203	$	16,408


	Three Months Ended March 31, 2025
(in thousands)	Merchant Solutions		Payables		Treasury Solutions		Total
Revenue from external customers	$	151,241	$	23,594	$	49,795	$	224,630
Intersegment revenue	449		324		293		1,066
	151,690		23,918		50,088		225,696
Elimination of intersegment revenues							(1,066)
Total consolidated revenues							224,630
Less: Cost of revenue (excludes depreciation and amortization)(1)	(118,572)		(16,624)		(3,223)
Less: Other operating expenses(1)(2)	(8,213)		(3,929)		(4,609)
Add: Other segment items(3)	800		151		186
Segment Adjusted EBITDA	$	25,705	$	3,516	$	42,442	$	71,663

Reconciliation of Segment Adjusted EBITDA to income before income taxes
Segment Adjusted EBITDA							$	71,663
Adjustment for corporate items(4)							(19,303)
Intersegment revenue elimination							(1,066)
Depreciation and amortization							(13,777)
Interest expense							(23,176)
Debt modification and extinguishment expenses							(38)
Selling, general and administrative (non-recurring)							(2,199)
Non-cash stock-based compensation							(1,586)
Income before income taxes							$	10,518

(1)The significant expense categories and amounts align with the segment level information regularly provided to the CODM.

(2)Other operating expenses including salary and employee benefits, and selling, general and administrative expenses.

(3)Other segment items for each reportable segment include other income, net, and stock-based compensation expense.

(4)Adjustment for corporate items include:


(in thousands)	March 31, 2025
Elimination of cost of services (excludes depreciation and amortization)	$	1,065
Other operating expenses(2)	(24,125)
Other items(5)	3,757
	$	(19,303)

(5)Other items include other income net, stock-based compensation expense, and selling general and administrative (non-recurring expense).


(in thousands)	Other specified segment disclosure
	Three Months Ended March 31, 2025
	Merchant Solutions		Payables		Treasury Solutions		Total
Depreciation and amortization	$	6,625	$	1,261	$	4,642	$	12,528

Revenues - Schedule of Disaggregation of Revenues (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Disaggregation of Revenue [Line Items]
Revenues	$ 249,558	$ 224,630
Other income, net	1,032	1,107
Merchant Solutions
Disaggregation of Revenue [Line Items]
Revenues	160,278	151,241
Payables
Disaggregation of Revenue [Line Items]
Revenues	32,029	23,594
Treasury Solutions
Disaggregation of Revenue [Line Items]
Revenues	57,251	49,795
Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	253,067	225,696
Operating Segments \| Merchant Solutions
Disaggregation of Revenue [Line Items]
Revenues	161,786	151,690
Operating Segments \| Payables
Disaggregation of Revenue [Line Items]
Revenues	32,441	23,918
Operating Segments \| Treasury Solutions
Disaggregation of Revenue [Line Items]
Revenues	58,840	50,088
Eliminations
Disaggregation of Revenue [Line Items]
Revenues	(3,509)	(1,066)
Eliminations \| Merchant Solutions
Disaggregation of Revenue [Line Items]
Revenues	(1,508)	(449)
Eliminations \| Payables
Disaggregation of Revenue [Line Items]
Revenues	(412)	(324)
Eliminations \| Treasury Solutions
Disaggregation of Revenue [Line Items]
Revenues	(1,589)	(293)
Merchant card fees
Disaggregation of Revenue [Line Items]
Revenues	185,933	167,079
Merchant card fees \| Operating Segments \| Merchant Solutions
Disaggregation of Revenue [Line Items]
Revenues	158,499	147,481
Merchant card fees \| Operating Segments \| Payables
Disaggregation of Revenue [Line Items]
Revenues	27,195	19,769
Merchant card fees \| Operating Segments \| Treasury Solutions
Disaggregation of Revenue [Line Items]
Revenues	3,277	607
Merchant card fees \| Eliminations
Disaggregation of Revenue [Line Items]
Revenues	(3,038)	(778)
Money transmission services
Disaggregation of Revenue [Line Items]
Revenues	41,748	37,449
Money transmission services \| Operating Segments \| Merchant Solutions
Disaggregation of Revenue [Line Items]
Revenues	0	0
Money transmission services \| Operating Segments \| Payables
Disaggregation of Revenue [Line Items]
Revenues	0	0
Money transmission services \| Operating Segments \| Treasury Solutions
Disaggregation of Revenue [Line Items]
Revenues	41,748	37,449
Money transmission services \| Eliminations
Disaggregation of Revenue [Line Items]
Revenues	0	0
Outsourced services and other services
Disaggregation of Revenue [Line Items]
Revenues	19,826	17,002
Interest income	14,800	12,600
Other income, net	1,000	1,100
Outsourced services and other services \| Operating Segments \| Merchant Solutions
Disaggregation of Revenue [Line Items]
Revenues	1,236	1,109
Outsourced services and other services \| Operating Segments \| Payables
Disaggregation of Revenue [Line Items]
Revenues	5,246	4,149
Outsourced services and other services \| Operating Segments \| Treasury Solutions
Disaggregation of Revenue [Line Items]
Revenues	13,815	12,032
Outsourced services and other services \| Eliminations
Disaggregation of Revenue [Line Items]
Revenues	(471)	(288)
Equipment
Disaggregation of Revenue [Line Items]
Revenues	2,051	3,100
Equipment \| Operating Segments \| Merchant Solutions
Disaggregation of Revenue [Line Items]
Revenues	2,051	3,100
Equipment \| Operating Segments \| Payables
Disaggregation of Revenue [Line Items]
Revenues	0	0
Equipment \| Operating Segments \| Treasury Solutions
Disaggregation of Revenue [Line Items]
Revenues	0	0
Equipment \| Eliminations
Disaggregation of Revenue [Line Items]
Revenues	$ 0	$ 0

Basis of Presentation and Significant Accounting Policies - Schedule of Allowance for Trade Receivables and Settlement Assets (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2026 USD ($)
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning	$ (6,297)
Balance at ending	(6,217)
Accounts receivable
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning	(6,297)
Charge-offs (recoveries), net	457
Provision	(377)
Balance at ending	(6,217)
Settlement assets
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning	(7,069)
Charge-offs (recoveries), net	4,177
Provision	(2,329)
Balance at ending	$ (5,221)

Earnings per Common Share (Tables)

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

Schedule of Earnings Per Common Share

The following tables set forth the computation of the Company's basic and diluted earnings per common share:


	Three Months Ended March 31,
(in thousands except per share amounts)		2026		2025
Numerator:



Net income attributable to common stockholders		$	9,760	$	8,268

Weighted average shares outstanding		81,373		78,774
Effect of dilutive potential common shares		2,274		1,083
Adjusted Weighted average shares outstanding		83,647		79,857

Basic earnings per common share		$	0.12	$	0.10
Diluted earnings per common share		$	0.12	$	0.10

Schedule of Antidilutive Securities

Anti-dilutive securities that were excluded from the Company's earnings per common share are as follows:


	Three Months Ended March 31,
(number of shares, in thousands)		2026	2025


Restricted stock awards(1)		44	1,078
Liability-classified restricted stock units		157	—
Outstanding stock option awards(1)		470	864
Total		671	1,942

(1)Granted under the 2018 Plan.

Settlement Assets and Obligations

3 Months Ended

Mar. 31, 2026

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Settlement Assets and Obligations

Settlement assets and obligations include, 1) funds due from merchants arising from settlement of funds for sales and credits between card issuers, merchants, 2) card settlement funds due from networks due to timing and its related obligations, and 3) Customer/Subscriber account balances and related obligations resulting from licensed money transmitter services.

Card settlements due from merchants, net

The merchant solution services of the Company include settlement of funds for sales and credits between card issuers, card networks and merchants. The standards of the card networks require possession of funds during the settlement process by a member bank which controls the clearing transactions. Since settlement funds are required to be in the possession of a member bank until merchants are funded, these funds are not assets of the Company, and the associated obligations are not liabilities of the Company. Therefore, neither is recognized in the Company's Unaudited Consolidated Balance Sheets.

Exception items that the Company is still attempting to collect from the merchants through the funds settlement process or merchant reserves are recognized as settlement assets in the Company's Unaudited Consolidated Balance Sheets, with an offsetting reserve for those amounts the Company estimates it will not be able to recover. Exception items that the Company has deemed uncollectible are recorded as merchant losses, a component of cost of revenue in the Company's Unaudited Consolidated Statements of Operations and Comprehensive Income. Expenses for merchant losses net of recoveries for the three months ended March 31, 2026 and 2025 were $1.8 million and $2.0 million, respectively.

Card settlements due from networks and Dues to Customers’ Payees

As part of the Payables service offering:

•Priority accepts card payments for its customers and processes disbursements to their vendors (customers’ payees). The time lag between authorization and settlement of card transactions creates certain receivables (from card networks) and payables (to the vendors of customers). These receivables and payables arise from the settlement activities that the Company performs on behalf of its customers and therefore, are presented as settlement assets and related obligations.

•Priority processes payments to the customers’ payees wherein customers funds are received either in Company-owned bank accounts controlled by the Company or bank-owned FBO accounts controlled by the banks, until such time that the transactions are settled with the customers’ payees. Balances in the bank-owned FBO accounts and related obligations are not considered assets and obligations of the Company. Therefore, neither is recognized in the Company's Unaudited Consolidated Balance Sheets. Amounts due to customers’ payees that are held in Company-owned bank accounts are included in restricted cash in the Company's Unaudited Consolidated Balance Sheets and related obligations are presented as due to customers’ payees.

MTL Customer cash and cash equivalents (restricted in nature), short-term investments and MTL Customer account obligations

The Company provides treasury solutions to its customers through its money transmission licenses in 46 states, the District of Columbia, and 2 territories of the United States and through agency relationships with banks in the remaining states. These services include the acceptance and disbursement of funds. While waiting for disbursement, these funds are held in bank accounts maintained by the Company on behalf of its customers. Per the money transmission regulations, the Company is allowed to invest available balances in these accounts in certain permitted investments, and returns on such investments contribute to the Company's net cash inflows. As such, the Company recognized these balances and related obligations on its balance sheet. Considering these balances are payable on demand and are related to settlement activities, they are presented as settlement assets (as part of the current assets) and the related obligations as settlement obligations (as part of the current liabilities) in the Company's Unaudited Consolidated Balance Sheets. The nature of these MTL Customer cash and cash equivalent are restricted in nature and therefore these balances are presented as restricted cash on the Company's Unaudited Consolidated Statements of Cash Flows. The MTL Short-term investments are included within other investing activities on the Company's Unaudited Consolidated Statements of Cash Flows.

The Company's consolidated settlement assets and obligations were as follows:


(in thousands)	March 31, 2026		December 31, 2025
Settlement Assets, net of estimated losses(1):
Card settlements due from merchants(1)(2)	$	2,239	$	2,455
Card settlements due from networks	10,192		16,092

Subtotal	12,431		18,547
MTL Customer cash and cash equivalents (restricted in nature)(3)	1,343,326		1,252,349
MTL Short-term investments	—		25,000
Total settlement assets	$	1,355,757	$	1,295,896

Settlement Obligations:
MTL Customer account obligations	$	1,319,801	$	1,244,975
Subscriber account obligations	22,386		32,031
Total customer/subscriber account obligations	1,342,187		1,277,006
Due to customers' payees(4)(5)	13,941		20,257
Total settlement obligations	$	1,356,128	$	1,297,263

(1)Allowance for estimated losses were $5.2 million and $7.1 million as of March 31, 2026 and December 31, 2025, respectively.

(2)Excludes merchant funds held at member banks of $114.0 million and $103.9 million on March 31, 2026 and December 31, 2025, respectively.

(3)Excludes funds held under agency arrangement with member banks (in states where the Company does not have a money transmitter license), balances remain under the control of the member banks (therefore not the assets or obligations of the Company). Agency owned accounts held $34.9 million and $50.3 million at March 31, 2026 and December 31, 2025, respectively.

(4)Includes $10.2 million and $16.1 million as of March 31, 2026 and December 31, 2025, respectively, of card settlements due from networks and the remainder is included in restricted cash on our Unaudited Consolidated Balance Sheets.

(5)Excludes amounts due to customer payees that are held in bank-owned FBO accounts which are not assets of the Company, and the associated obligations are not liabilities of the Company. Therefore, neither is recognized in the Company's Unaudited Consolidated Balance Sheets. Bank-owned FBO accounts held funds of $177.1 million and $151.8 million at March 31, 2026 and December 31, 2025, respectively.

Debt Obligations (Tables)

3 Months Ended

Mar. 31, 2026

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Outstanding debt obligations consisted of the following:


(in thousands)	March 31, 2026		December 31, 2025
2024 Credit Agreement
Term facility - matures July 31, 2032, interest rate of 7.42% and 7.47% at March 31, 2026 and December 31, 2025, respectively	$	1,020,000	$	1,020,000
Revolving credit facility - $100.0 million line matures July 31, 2030, interest rate of 7.17% and 7.22% at March 31, 2026 and December 31, 2025, respectively	—		—
Residual Finance Credit Facility
Term facility - matures August 18, 2031, interest rate of 9.93% and 9.98% at March 31, 2026 and December 31, 2025, respectively	42,003		35,394
Total debt obligations	1,062,003		1,055,394
Less: current portion of long-term debt	(525)		—
Less: unamortized debt discounts and deferred financing costs	(15,569)		(16,036)
Long-term debt, net	$	1,045,909	$	1,039,358

Schedule of Interest Expense for Outstanding Debt

Interest expense for outstanding debt, including fees for undrawn amounts and amortization of deferred financing costs and debt discounts was as follows:


	Three Months Ended March 31,
(in thousands)		2026		2025
Interest expense(1)(2)		$	21,016	$	23,176

(1)Included in interest expense is $0.4 million and $1.0 million related to the accretion of deferred consideration from acquisitions for the three months ended March 31, 2026 and 2025, respectively.

(2)Interest expense included amortization of deferred financing costs and debt discounts of $0.5 million and $0.4 million for the three months ended March 31, 2026 and 2025, respectively.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
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-Paragraph 2
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-URI https://asc.fasb.org/1943274/2147477314/942-235-S99-2

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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-Paragraph 3
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Reference 5: http://www.xbrl.org/2003/role/exampleRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 6: http://www.xbrl.org/2003/role/exampleRef
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Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
-Section 45
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Settlement Assets and Obligations - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2026 USD ($) state territory	Mar. 31, 2025 USD ($)
Money transmission services
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of states in which entity operates \| state	46
Number of territories in which entity operates \| territory	2
Card settlements due from merchants
Accounts, Notes, Loans and Financing Receivable [Line Items]
Charge-offs (recoveries), net \| $	$ 1.8	$ 2.0

Property, Equipment and Software - Schedule of Property, Equipment and Software (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025
Property, Plant and Equipment [Line Items]
Less: Accumulated depreciation	$ (90,577)		$ (86,245)
Property, equipment and software, net	59,785		58,636
Depreciation expense	4,373	$ 3,862
Property, equipment and software
Property, Plant and Equipment [Line Items]
Property, equipment and software	147,341		142,606
Computer software
Property, Plant and Equipment [Line Items]
Property, equipment and software	130,056		125,073
Equipment
Property, Plant and Equipment [Line Items]
Property, equipment and software	13,821		14,037
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, equipment and software	2,592		2,621
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, equipment and software	872		875
Capital work in-progress
Property, Plant and Equipment [Line Items]
Property, equipment and software	$ 3,021		$ 2,275

Notes Receivable (Tables)

3 Months Ended

Mar. 31, 2026

Receivables [Abstract]

Schedule of Reconciliation for Activity Within the Notes Receivable

The following table provides a reconciliation for activity within the notes receivable as of March 31, 2026:


(in thousands)
Balance at December 31, 2025	$	19,691
Principal payments received	(516)
Advances during the period	8,575
Balance at March 31, 2026	$	27,750

Schedule of Financing Receivable, before Allowance for Credit Loss, Maturity

As of March 31, 2026, the principal payments for t

he Company's notes receivable are due as follows:


(in thousands)
Twelve months ending March 31,
2027	$	2,410
2028	5,536
2029	6,612
2030	5,579
2031	7,613
Thereafter	—
Total	$	27,750

Segment Information - Schedule of Reportable Segments and Reconciliation to Income (Loss) Before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Segment Reporting Information [Line Items]
Revenues	$ 249,558	$ 224,630
Cost of revenue (excludes depreciation and amortization)	(150,787)	(137,353)
Segment Adjusted EBITDA	79,865	71,663
Merchant Solutions
Segment Reporting Information [Line Items]
Revenues	160,278	151,241
Other operating expenses	(9,830)	(8,213)
Other segment items	881	800
Segment Adjusted EBITDA	27,740	25,705
Payables
Segment Reporting Information [Line Items]
Revenues	32,029	23,594
Other operating expenses	(3,815)	(3,929)
Other segment items	46	151
Segment Adjusted EBITDA	5,454	3,516
Treasury Solutions
Segment Reporting Information [Line Items]
Revenues	57,251	49,795
Other operating expenses	(6,273)	(4,609)
Other segment items	78	186
Segment Adjusted EBITDA	46,671	42,442
Eliminations
Segment Reporting Information [Line Items]
Revenues	(3,509)	(1,066)
Cost of revenue (excludes depreciation and amortization)	(3,502)	(1,065)
Eliminations \| Merchant Solutions
Segment Reporting Information [Line Items]
Revenues	(1,508)	(449)
Eliminations \| Payables
Segment Reporting Information [Line Items]
Revenues	(412)	(324)
Eliminations \| Treasury Solutions
Segment Reporting Information [Line Items]
Revenues	(1,589)	(293)
Operating Segments
Segment Reporting Information [Line Items]
Revenues	253,067	225,696
Operating Segments \| Merchant Solutions
Segment Reporting Information [Line Items]
Revenues	161,786	151,690
Cost of revenue (excludes depreciation and amortization)	(125,097)	(118,572)
Operating Segments \| Payables
Segment Reporting Information [Line Items]
Revenues	32,441	23,918
Cost of revenue (excludes depreciation and amortization)	(23,218)	(16,624)
Operating Segments \| Treasury Solutions
Segment Reporting Information [Line Items]
Revenues	58,840	50,088
Cost of revenue (excludes depreciation and amortization)	$ (5,974)	$ (3,223)

Earnings per Common Share - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Numerator:
Net income attributable to common stockholders	$ 9,760	$ 8,268
Denominator:
Weighted-average shares outstanding (in shares)	81,373	78,774
Effect of dilutive potential common shares (in shares)	2,274	1,083
Adjusted Weighted average shares outstanding (in shares)	83,647	79,857
Basic earnings per common share (in dollars per share)	$ 0.12	$ 0.10
Diluted earnings per common share (in dollars per share)	$ 0.12	$ 0.10

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/exampleRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

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Basis of Presentation and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2026
Accounting Policies [Abstract]
Consolidation	The accompanying Unaudited Consolidated Financial Statements include the accounts of the Company and its majority-owned subsidiaries. All material intercompany balances and transactions have been eliminated in consolidation.
Basis of Presentation	These Unaudited Consolidated Financial Statements have been prepared in accordance with GAAP for interim financial information pursuant to the rules and regulations of the SEC. The Consolidated Balance Sheet as of December 31, 2025 was derived from the audited consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2025 but does not include all disclosures required by GAAP for annual consolidated financial statements. NCI represents the equity interest in certain consolidated entities in which the Company owns less than 100% of the profit interests. Changes in the Company's ownership interest while the Company retains its controlling interest are accounted for as equity transactions. As of March 31, 2026, there was no income attributable to NCI in accordance with the applicable operating agreements. In the opinion of the Company's management, all known adjustments necessary for a fair presentation of the Unaudited Consolidated Financial Statements for interim periods have been made. These adjustments consist of normal recurring accruals and estimates that affect the carrying amounts of assets and liabilities. These Unaudited Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2025.
Reclassifications	Certain amounts from prior periods have been reclassified to conform to the current period’s presentation. The effect of these reclassifications on our company’s previously reported consolidated financial statements was not material.
Segment Renaming	During the year ended December 31, 2025, the Company renamed its segments to align with the services offered. SMB Payments was renamed to Merchant Solutions, B2B Payments was renamed to Payables and Enterprise Payments was renamed to Treasury Solutions.
Use of Estimates	The preparation of Unaudited Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the Unaudited Consolidated Financial Statements and the reported amounts of revenues and expenses during the reported period. Actual results could materially differ from those estimates.
Foreign Currency	The Company's reporting currency is the U.S. dollar. The functional currency of the Indian subsidiary of the Company is the Indian Rupee. The functional currency of the Canadian subsidiaries of the Company is the Canadian Dollar. Accordingly, assets and liabilities denominated in a foreign currency are translated into U.S. dollars at the current exchange rate on the last day of the reporting period. Revenues and expenses are translated using the average exchange rate in effect during the reporting period. Translation adjustments are reported as a component of accumulated other comprehensive income.
Allowance for Expected Losses	The Company has elected not to measure expected losses for accrued interest on notes receivable but instead recognize losses for accrued interest within the period losses are incurred.
Recently Adopted Accounting Standards and Recently Issued Accounting Standards Pending Adoption	Measurement of Credit Losses for Accounts Receivable and Contract Assets ASU 2025-05 In July 2025, the FASB issued ASU 2025-05, Financial Instruments - Credit Losses (Topic 326) ("ASU 2025-05") providing a practical expedient when estimating expected credit losses which assumes current conditions as of the balance sheet date do not change for the remaining life of the accounts receivable and contract asset. The ASU is effective for fiscal years beginning after December 15, 2025, and interim reporting periods within those annual reporting periods. Early adoption is permitted. Adoption of this standard did not have any material impact on results of operations, financial position, cash flows or disclosures. Recently Issued Accounting Standards Pending Adoption Disaggregation of Income Statement Expenses ASU 2024-03 In November 2024, the FASB issued ASU 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40) ("ASU 2024-03") requiring additional disaggregated disclosures in the notes to financial statements for certain categories of expenses that are included on the face of the income statement. The ASU is effective for fiscal years beginning after December 15, 2026 and interim periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company will adopt this guidance for the year ended December 31, 2027. This guidance is expected to only impact the disclosures with no impact on the results of operations, financial position or cash flows. Accounting for Internal-Use Software ASU 2025-06, In September 2025, the FASB issued ASU 2025-06, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40) ("ASU 2025-06") for targeted improvements to the accounting for internal-use software. The amendment updates guidance to consider different methods of software development, updating the requirements for capitalization of software costs. This ASU is effective for annual reporting periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods, with early adoption permitted. The Company is currently evaluating the impact this ASU will have on its consolidated financial statements. Interim Reporting ASU 2025-11 In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270) ("ASU 2025-11") provides clarity about the current requirements for a comprehensive list of interim disclosures and also requires the Company to disclose events since the end of the last annual reporting period which have a material impact on the Company. This ASU is effective for interim reporting periods within annual reporting periods beginning after December 15, 2027 and early adoption is permitted. The Company is currently evaluating the impact this ASU will have on its interim consolidated financial statements and disclosures.

- Definition

Disclosure of accounting policy for credit loss on financial instrument measured at amortized cost basis, net investment in lease, off-balance sheet credit exposure, and available-for-sale debt security. Includes, but is not limited to, methodology used to estimate allowance for credit loss, how writeoff of uncollectible amount is recognized, and determination of past due status and nonaccrual status.

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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482861/275-10-50-1

+ Details

Acquisitions - Schedule of Purchase Price Allocation (Details) - USD ($) $ in Thousands	Oct. 01, 2025	Aug. 26, 2025	Jan. 21, 2025	Mar. 31, 2026	Dec. 31, 2025
Recognized amounts of assets acquired and liabilities assumed:
Goodwill				$ 416,535	$ 416,641
Letus Business
Consideration:
Cash			$ 4,627
Contingent consideration			104
Less: cash acquired			(175)
Deferred consideration			4,282
Total purchase consideration, net of cash acquired			8,838
Recognized amounts of assets acquired and liabilities assumed:
Accounts receivable			149
Prepaid expenses			229
Property, equipment and software			8
Goodwill			6,070
Accounts payable and accrued expenses			(359)
Total purchase consideration			8,838
Deferred tax asset			3,800
Letus Business \| Customer relationships
Recognized amounts of assets acquired and liabilities assumed:
Intangible assets			1,555
Letus Business \| Trademarks
Recognized amounts of assets acquired and liabilities assumed:
Intangible assets			480
Letus Business \| Technology
Recognized amounts of assets acquired and liabilities assumed:
Intangible assets			$ 706
Sila Business
Consideration:
Cash		$ 3,449
Contingent consideration		3,881
Less: cash acquired		(100)
Deferred consideration		3,800
Total purchase consideration, net of cash acquired		7,230
Recognized amounts of assets acquired and liabilities assumed:
Accounts receivable		68
Prepaid expenses		346
Other noncurrent assets		9,522
Accounts payable and accrued expenses		(386)
Customer deposits		(46)
Fair value of net assets acquired		11,219
Estimated bargain purchase gain		3,989
Deferred tax asset		9,500
Sila Business \| Trademarks
Recognized amounts of assets acquired and liabilities assumed:
Intangible assets		772
Sila Business \| Technology
Recognized amounts of assets acquired and liabilities assumed:
Intangible assets		$ 943
DMS
Consideration:
Cash	$ 31,500
Contingent consideration	17,066
Common equity of the Acquiring Entity	6,562
Deferred consideration	2,801
Total purchase consideration, net of cash acquired	57,929
Recognized amounts of assets acquired and liabilities assumed:
Accounts receivable	11
Inventory	145
Other noncurrent assets	7
Goodwill	34,159
Accounts payable and accrued expenses	(79)
Total purchase consideration	$ 57,929
Deferred consideration term	4 years
Equity interest, percentage with option to convert to Class B Units	50.00%
Equity interest, option to convert to Class B Units, term	5 years
DMS \| Customer relationships
Recognized amounts of assets acquired and liabilities assumed:
Intangible assets	$ 17,187
DMS \| Trademarks
Recognized amounts of assets acquired and liabilities assumed:
Intangible assets	3,222
DMS \| Technology
Recognized amounts of assets acquired and liabilities assumed:
Intangible assets	$ 3,277

Segment Information - Schedule of Adjustments for Corporate Items (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Segment Reporting Information [Line Items]
Elimination of cost of services (excludes depreciation and amortization)	$ 150,787	$ 137,353
Total operating expenses	216,168	192,005
Eliminations
Segment Reporting Information [Line Items]
Elimination of cost of services (excludes depreciation and amortization)	3,502	1,065
Corporate items
Segment Reporting Information [Line Items]
Other operating expenses	(27,847)	(24,125)
Other items	6,083	3,757
Corporate Reconciling Items And Eliminations
Segment Reporting Information [Line Items]
Total operating expenses	$ (18,262)	$ (19,303)

Goodwill and Intangible Assets - Schedule of Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 13,242	$ 9,915
Amortization of acquisition costs	$ 600	$ 600

Stock-based Compensation

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

Stock-based Compensation

Stock-based compensation expense, which is included in salary and employee benefits within the Unaudited Consolidated Statements of Operations and Comprehensive Income, was as follows:


	Three Months Ended March 31,
(in thousands)		2026		2025
Stock-based compensation expense		$	1,843	$	1,484
Incentive units compensation expense		36		87
Liability-classified compensation expense		183		—
ESPP compensation expense		26		15
Total		$	2,088	$	1,586

Income tax expense for stock-based compensation was $0.1 million for the three months ended March 31, 2026. Income tax benefit for stock-based compensation was $0.7 million for the three months ended March 31, 2025. No stock-based compensation has been capitalized in any period presented. Awards granted during the three months ended March 31, 2026 and 2025, were not material.

2018 Plan

The Company's 2018 Plan initially provided for the issuance of up to 6,685,696 shares of the Company's Common Stock. On March 17, 2022, the Company's Board of Directors unanimously approved an amendment to the 2018 Plan, which was subsequently approved by our shareholders, to increase the number of shares authorized for issuance under the plan by 2,500,000 shares, resulting in 9,185,696 shares of the Company's Common Stock authorized for issuance under the plan.

As of March 31, 2026, the Company had 1,121,191 shares available for issuance under the 2018 Plan.

2021 Employee Stock Purchase Plan

The 2021 Employee Stock Purchase Plan ("ESPP") provides for up to 200,000 shares to be purchased under the plan. Shares issued under the plan may be authorized but unissued or reacquired shares of Common Stock. All employees of the Company who work more than 20 hours per week and have been employed by the Company for at least 30 days may participate in the ESPP.

Under the ESPP, participants are offered, on the first day of the offering period, the option to purchase shares of Common Stock at a discount on the last day of the offering period. The offering period shall be for a period of three months and the first offering period began on January 10, 2022. The ESPP provides eligible employees the opportunity to purchase shares of the Company's Common stock at 95% of the lesser of the fair value on the first and last trading day of each offering period. The ESPP was amended by shareholder approval on June 13, 2025, to increase the number of shares available by 200,000.

As of March 31, 2026, the Company had 156,437 shares available for issuance under the 2021 Stock Purchase Plan.

Non-voting Incentive Units

The Company issued non-voting incentive units to certain employees and partners in seven subsidiaries. These non-voting incentive units were determined to be equity and are accounted for under ASC 718, Compensation - Stock Compensation. The non-voting incentive units are either fully vested when granted, or vest according to the service period and/or performance measure noted in the grant agreement. As the non-voting incentive units are vested, they are recognized as NCI to the Company, who is the majority owner of the subsidiaries.

Notes Receivable - Schedule of Reconciliation for Activity within Notes Receivable (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2026 USD ($)
Financing Receivable, after Allowance for Credit Loss [Roll Forward]
Balance at beginning	$ 19,691
Principal payments received	(516)
Advances during the period	8,575
Balance at ending	$ 27,750

Commitments and Contingencies - Contingent/Deferred Consideration (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2026 USD ($)
Contingent Consideration Liabilities
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 21,058
Accretion	289
Payments	0
Foreign currency translation adjustment	(2)
Ending balance	21,345
Deferred Consideration Liabilities
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	7,296
Accretion	139
Payments	(80)
Foreign currency translation adjustment	0
Ending balance	$ 7,355

Income Taxes (Details)	3 Months Ended
Income Taxes (Details)	Mar. 31, 2026	Mar. 31, 2025
Income Tax Disclosure [Abstract]
Effective income tax rate	27.20%	21.40%

Commitments and Contingencies - Minimum Annual Commitments with Third-Party Processors (Details) $ in Thousands	Mar. 31, 2026 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2027	$ 25,654
2028	28,123
2029	18,625
2030	18,625
2031	18,625
Thereafter	13,969
Total	$ 123,621

Debt Obligations - Schedule of Interest Expense for Outstanding Debt (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Debt Disclosure [Abstract]
Interest expense	$ 21,016	$ 23,176
Accretion expense	400	1,000
Amortization of deferred financing costs and debt discounts	$ 500	$ 400

Stockholders' Deficit	3 Months Ended
Stockholders' Deficit	Mar. 31, 2026
Equity [Abstract]
Stockholders' Deficit	Stockholders' Deficit The Company is authorized to issue 100,000,000 shares of preferred stock with such designations, voting and other rights and preferences as may be determined from time to time by the Board of Directors. As of March 31, 2026 and December 31, 2025, the Company has not issued any shares of preferred stock. Share Repurchase Program In 2022, Priority's Board of Directors authorized a general share repurchase program under which the Company may purchase up to 2,000,000 shares of its outstanding Common Stock for a total of up to $10.0 million. Under the terms of this plan, the Company may purchase shares through open market purchases, unsolicited or solicited privately negotiated transactions, or in another manner so long as it complies with applicable rules and regulations. The Company has purchased 1,309,374 shares for $5.8 million under this plan. On May 5, 2025, the Company's Board of Directors amended the program to increase the authorization to 5,000,000 shares of its outstanding common stock for a total of $40.0 million. There have been no shares repurchased under this plan since the year ended December 31, 2022.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Cover - shares	3 Months Ended
Cover - shares	Mar. 31, 2026	May 04, 2026
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2026
Document Transition Report	false
Entity File Number	001-37872
Entity Registrant Name	Priority Technology Holdings, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-4257046
Entity Address, Address Line One	2001 Westside Parkway
Entity Address, Address Line Two	Suite 155
Entity Address, City or Town	Alpharetta,
Entity Address, State or Province	GA
Entity Address, Postal Zip Code	30004
City Area Code	404
Local Phone Number	952-2107
Title of 12(b) Security	Common Stock, par value $0.001
Trading Symbol	PRTH
Security Exchange Name	NASDAQ
Entity's Reporting Status Current	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		82,355,170
Entity Central Index Key	0001653558
Amendment Flag	false
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2026
Current Fiscal Year End Date	--12-31

Goodwill and Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ (400,158)	$ (387,534)
Weighted-average Useful Life	9 years 6 months	9 years 4 months 24 days
Indefinite-lived Intangible Assets [Line Items]
Gross Carrying Value	$ 702,676	$ 702,724
Net Carrying Value	302,518	315,190
Money transmission licenses
Indefinite-lived Intangible Assets [Line Items]
Money transmission licenses	2,100	2,100
ISO and referral partner relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	223,016	223,016
Accumulated Amortization	(67,372)	(63,701)
Net Carrying Value	$ 155,644	$ 159,315
Weighted-average Useful Life	14 years 3 months 18 days	13 years 9 months 18 days
Residual buyouts
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 177,864	$ 177,864
Accumulated Amortization	(124,755)	(119,861)
Net Carrying Value	$ 53,109	$ 58,003
Weighted-average Useful Life	6 years	6 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 139,436	$ 139,463
Accumulated Amortization	(100,027)	(98,478)
Net Carrying Value	$ 39,409	$ 40,985
Weighted-average Useful Life	8 years 6 months	8 years 9 months 18 days
Merchant portfolios
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 83,350	$ 83,350
Accumulated Amortization	(69,662)	(68,787)
Net Carrying Value	$ 13,688	$ 14,563
Weighted-average Useful Life	6 years 6 months	6 years 6 months
Technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 63,590	$ 63,602
Accumulated Amortization	(34,007)	(32,684)
Net Carrying Value	$ 29,583	$ 30,918
Weighted-average Useful Life	8 years 8 months 12 days	8 years 6 months
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 13,320	$ 13,329
Accumulated Amortization	(4,335)	(4,023)
Net Carrying Value	$ 8,985	$ 9,306
Weighted-average Useful Life	10 years 6 months	10 years 7 months 6 days

Fair Value	3 Months Ended
Fair Value	Mar. 31, 2026
Fair Value Disclosures [Abstract]
Fair Value	Fair Value Fair Value Disclosures The Company's contingent and deferred considerations were derived from business combinations occurring during the year ended December 31, 2025 (refer to Note 2. Acquisitions). The contingent considerations are classified within Level 3 of the fair value hierarchy due to the uncertainty of the fair value measurement created by the absence of quoted market prices, the inherent lack of liquidity and unobservable inputs used to measure fair value which require judgment. The Company uses valuation techniques including Monte Carlo simulations to estimate fair value based on projection period and assumed growth rates. A change in inputs in the valuation techniques used might result in a significantly higher or lower fair value measurement than what is reported. Contingent and deferred consideration liabilities are uncertain due to the utilization of unobservable inputs and management's judgment in determining the likelihood of achieving criteria required by the respective agreements. The contingent and deferred considerations have a fair value of $28.7 million at March 31, 2026, $1.1 million included in accounts payable and accrued expenses and $27.6 million included in other noncurrent liabilities on the Company's Unaudited Consolidated Balance Sheets. Notes Receivable Notes receivable are carried at amortized cost. Substantially all of the Company's notes receivable are secured, and the Company provides for allowances when it believes that certain notes receivable may not be collectible. The carrying value of the Company's notes receivable, net approximates fair value and was approximately $27.8 million and $19.7 million at March 31, 2026 and December 31, 2025, respectively and is within Level 3 of the fair value hierarchy. Debt Obligations Outstanding debt obligations (see Note 8. Debt Obligations) are reflected in the Company's Unaudited Consolidated Balance Sheets at carrying value since the Company did not elect to remeasure debt obligations to fair value at the end of each reporting period. The fair value of the term facility under the 2024 Credit Agreement was estimated to be $989.4 million and $998.3 million at March 31, 2026 and December 31, 2025, respectively. The fair value was estimated using binding and non-binding quoted prices in an active secondary market, which considers the credit risk and market related conditions, and is within Level 2 of the fair value hierarchy. During the three months ended March 31, 2026, there were no transfers into, out of, or between levels of the fair value hierarchy. Long term incentive award The Company has established a long-term incentive award for the Chief Executive Officer, which is subject to specified performance conditions. Upon satisfaction of these performance criteria, the Chief Executive Officer becomes entitled to a predetermined amount of incentive compensation, which may be settled either in cash or in shares of the Company's Common Stock. Consequently, this arrangement is accounted for as a liability award in accordance with applicable accounting standards. The fair value of these awards is remeasured at each reporting date utilizing Level 3 inputs, which encompass management's estimates regarding the anticipated achievement of relevant financial metrics. The fair value of these awards as of March 31, 2026 was $2.2 million, $1.5 million included in accounts payable and accrued expenses and $0.7 million in other noncurrent liabilities on the Company's Unaudited Consolidated Balance Sheets.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Section 50
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Reference 3: http://www.xbrl.org/2003/role/exampleRef
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-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Debt Obligations - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Debt Instrument [Line Items]
Total debt obligations	$ 1,062,003	$ 1,055,394
Less: current portion of long-term debt	(525)	0
Less: unamortized debt discounts and deferred financing costs	(15,569)	(16,036)
Long-term debt, net	1,045,909	1,039,358
2024 Credit Agreement \| Line of Credit \| Secured Debt
Debt Instrument [Line Items]
Total debt obligations	$ 1,020,000	$ 1,020,000
Interest rate during period	7.42%	7.47%
2024 Credit Agreement \| Line of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Total debt obligations	$ 0	$ 0
Interest rate during period	7.17%	7.22%
Maximum borrowing capacity	$ 100,000
Residual Finance Credit Facility \| Line of Credit \| Delayed Draw Term Loan
Debt Instrument [Line Items]
Total debt obligations	$ 42,003	$ 35,394
Interest rate during period	9.93%	9.98%

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Settlement Assets and Obligations - Schedule of Settlement Assets and Obligations (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Settlement Assets, net of estimated losses
Total settlement assets	$ 1,355,757	$ 1,295,896
Settlement Obligations:
Total settlement obligations	1,356,128	1,297,263
Allowance for estimated losses	5,200	7,100
Deposits, agency-owned accounts	34,900	50,300
Total customer/subscriber account obligations
Settlement Obligations:
Total settlement obligations	1,342,187	1,277,006
MTL Customer account obligations
Settlement Obligations:
Total settlement obligations	1,319,801	1,244,975
Subscriber account obligations
Settlement Obligations:
Total settlement obligations	22,386	32,031
Due to customer payees
Settlement Obligations:
Total settlement obligations	13,941	20,257
Due to customer payees \| Bank
Settlement Obligations:
Total settlement obligations	177,100	151,800
MTL Customer cash and cash equivalents
Settlement Assets, net of estimated losses
Total settlement assets	1,343,326	1,252,349
MTL Short-term investments
Settlement Assets, net of estimated losses
Total settlement assets	0	25,000
Card Settlements and Other Settlement Assets
Settlement Assets, net of estimated losses
Total settlement assets	12,431	18,547
Card settlements due from merchants
Settlement Assets, net of estimated losses
Total settlement assets	2,239	2,455
Card settlements due from networks
Settlement Assets, net of estimated losses
Total settlement assets	10,192	16,092
Merchant funds held at member banks
Settlement Assets, net of estimated losses
Total settlement assets	$ 114,000	$ 103,900

Notes Receivable - Schedule of Principal Payments to be Received (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Receivables [Abstract]
2027	$ 2,410
2028	5,536
2029	6,612
2030	5,579
2031	7,613
Thereafter	0
Total	$ 27,750	$ 19,691

Segment Information

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Segment Information

The Company's three reportable segments included Merchant Solutions, Payables and Treasury Solutions:

•Merchant Solutions: Provides full-service acquiring and payment-enabled solutions for B2C transactions, leveraging Priority's proprietary software platform, distributed through ISO, direct sales and vertically focused ISV channels.

•Payables: Provides market-leading AP automation solutions to corporations, software partners and industry leading FIs in addition to improving cash flows by providing instant access to working capital.

•Treasury Solutions: Provides embedded finance and treasury solutions to customers to modernize legacy platforms and accelerate software partners' strategies to monetize payments.

Corporate includes costs of corporate functions and shared services not allocated to our reportable segments.

The Company's chief operating decision makers ("CODM") are our CEO and CFO. The CODM uses adjusted earnings before interest expense, income tax and depreciation and amortization expenses ("Adjusted EBITDA") as the measure of segment profit or loss to allocate resources. Adjusted EBITDA represents EBITDA (i.e. earnings before interest, income tax, and depreciation and amortization expenses) adjusted for certain non-cash costs, such as stock-based compensation and the write-off of the carrying value of investments or other assets, as well as debt extinguishment and modification expenses and other expenses and income items considered non-recurring, such as acquisition integration expenses, certain professional fees, and litigation settlements.

Segment level assets information is not provided or subject to review by the CODM and therefore not provided.

Information on reportable segments and reconciliations to income before income taxes are as follows:


	Three Months Ended March 31, 2026
(in thousands)	Merchant Solutions		Payables		Treasury Solutions		Total
Revenue from external customers	$	160,278	$	32,029	$	57,251	$	249,558
Intersegment revenue	1,508		412		1,589		3,509
	161,786		32,441		58,840		253,067
Elimination of intersegment revenues							(3,509)
Total consolidated revenues							249,558
Less: Cost of revenue (excludes depreciation and amortization)(1)	(125,097)		(23,218)		(5,974)
Less: Other operating expenses(1)(2)	(9,830)		(3,815)		(6,273)
Add: Other segment items(3)	881		46		78
Segment Adjusted EBITDA	$	27,740	$	5,454	$	46,671	$	79,865

Reconciliation of Segment Adjusted EBITDA to income before income taxes
Segment Adjusted EBITDA							$	79,865
Adjustment for corporate items(4)							(18,262)
Intersegment revenue elimination							(3,509)
Depreciation and amortization							(17,615)
Interest expense							(21,016)

Selling, general and administrative (non-recurring)							(3,969)

Non-cash stock-based compensation							(2,088)
Income before income taxes							$	13,406

(1)The significant expense categories and amounts align with the segment level information regularly provided to the CODM.

(2)Other operating expenses including salary and employee benefits, and selling, general and administrative expenses.

(3)Other segment items for each reportable segment include other income, net, and stock-based compensation expense.

(4)Adjustment for corporate items include:


(in thousands)	March 31, 2026
Elimination of cost of services (excludes depreciation and amortization)	$	3,502
Other operating expenses(2)	(27,847)
Other items(5)	6,083
	$	(18,262)

(5)Other items include other income net, stock-based compensation expense, and selling general and administrative (non-recurring expense).


(in thousands)	Other specified segment disclosure
	Three Months Ended March 31, 2026
	Merchant Solutions		Payables		Treasury Solutions		Total
Depreciation and amortization	$	9,917	$	1,288	$	5,203	$	16,408


	Three Months Ended March 31, 2025
(in thousands)	Merchant Solutions		Payables		Treasury Solutions		Total
Revenue from external customers	$	151,241	$	23,594	$	49,795	$	224,630
Intersegment revenue	449		324		293		1,066
	151,690		23,918		50,088		225,696
Elimination of intersegment revenues							(1,066)
Total consolidated revenues							224,630
Less: Cost of revenue (excludes depreciation and amortization)(1)	(118,572)		(16,624)		(3,223)
Less: Other operating expenses(1)(2)	(8,213)		(3,929)		(4,609)
Add: Other segment items(3)	800		151		186
Segment Adjusted EBITDA	$	25,705	$	3,516	$	42,442	$	71,663

Reconciliation of Segment Adjusted EBITDA to income before income taxes
Segment Adjusted EBITDA							$	71,663
Adjustment for corporate items(4)							(19,303)
Intersegment revenue elimination							(1,066)
Depreciation and amortization							(13,777)
Interest expense							(23,176)
Debt modification and extinguishment expenses							(38)
Selling, general and administrative (non-recurring)							(2,199)
Non-cash stock-based compensation							(1,586)
Income before income taxes							$	10,518

(1)The significant expense categories and amounts align with the segment level information regularly provided to the CODM.

(2)Other operating expenses including salary and employee benefits, and selling, general and administrative expenses.

(3)Other segment items for each reportable segment include other income, net, and stock-based compensation expense.

(4)Adjustment for corporate items include:


(in thousands)	March 31, 2025
Elimination of cost of services (excludes depreciation and amortization)	$	1,065
Other operating expenses(2)	(24,125)
Other items(5)	3,757
	$	(19,303)

(5)Other items include other income net, stock-based compensation expense, and selling general and administrative (non-recurring expense).


(in thousands)	Other specified segment disclosure
	Three Months Ended March 31, 2025
	Merchant Solutions		Payables		Treasury Solutions		Total
Depreciation and amortization	$	6,625	$	1,261	$	4,642	$	12,528

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Goodwill and Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The Company's goodwill relates to the following reportable segments:


(in thousands)	March 31, 2026		December 31, 2025
Merchant Solutions	$	158,298	$	158,298
Treasury Solutions	250,997		251,103
Payables	7,240		7,240
Total	$	416,535	$	416,641

The following table summarizes the changes in the carrying value of goodwill:


(in thousands)	Amount
Balance at December 31, 2025	$	416,641

Foreign currency translation adjustment	(106)
Balance at March 31, 2026	$	416,535

Schedule of Other Intangible Assets

Intangible assets consisted of the following:


	March 31, 2026						Weighted-average Useful Life
(in thousands, except weighted-average data)	Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Intangible assets:
ISO and referral partner relationships	$	223,016	$	(67,372)	$	155,644	14.3
Residual buyouts	177,864		(124,755)		53,109		6.0
Customer relationships	139,436		(100,027)		39,409		8.5
Merchant portfolios	83,350		(69,662)		13,688		6.5
Technology	63,590		(34,007)		29,583		8.7
Trade names	13,320		(4,335)		8,985		10.5

Money transmission licenses(1)	2,100		—		2,100
Total	$	702,676	$	(400,158)	$	302,518	9.5

(1)These assets have an indefinite useful life.


	December 31, 2025						Weighted-average Useful Life
(in thousands, except weighted-average data)	Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Intangible assets:
ISO and referral partner relationships	$	223,016	$	(63,701)	$	159,315	13.8
Residual buyouts	177,864		(119,861)		58,003		6.0
Customer relationships	139,463		(98,478)		40,985		8.8
Merchant portfolios	83,350		(68,787)		14,563		6.5
Technology	63,602		(32,684)		30,918		8.5
Trade names	13,329		(4,023)		9,306		10.6

Money transmission licenses(1)	2,100		—		2,100
Total	$	702,724	$	(387,534)	$	315,190	9.4

(1)These assets have an indefinite useful life.


	Three Months Ended March 31,
(in thousands)		2026		2025
Amortization expense(1)		$	13,242	$	9,915

(1)Included in amortization expense is $0.6 million for the three months ended March 31, 2026 and 2025, respectively, related to the amortization of certain contract acquisition costs.

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

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+ Details

Property, Equipment and Software

3 Months Ended

Mar. 31, 2026

Property, Plant and Equipment [Abstract]

Property, Equipment and Software

A summary of property, equipment and software, net was as follows:


(in thousands)	March 31, 2026		December 31, 2025
Computer software	$	130,056	$	125,073
Equipment	13,821		14,037
Leasehold improvements	2,592		2,621
Furniture and fixtures	872		875
Property, equipment and software	147,341		142,606
Less: Accumulated depreciation	(90,577)		(86,245)
Capital work in-progress	3,021		2,275
Property, equipment and software, net	$	59,785	$	58,636


	Three Months Ended March 31,
(in thousands)		2026		2025
Depreciation expense		$	4,373	$	3,862

Computer software represents purchased software and internally developed software that is used to provide the Company's services to its customers.

Fully depreciated assets are retained in property, equipment and software, net, until removed from service. Certain fully depreciated assets were removed from service during the three months ended March 31, 2026 and 2025.

Segment Information - Schedule of Depreciation and Amortization (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 17,615	$ 13,777
Operating Segments
Segment Reporting Information [Line Items]
Depreciation and amortization	16,408	12,528
Operating Segments \| Merchant Solutions
Segment Reporting Information [Line Items]
Depreciation and amortization	9,917	6,625
Operating Segments \| Payables
Segment Reporting Information [Line Items]
Depreciation and amortization	1,288	1,261
Operating Segments \| Treasury Solutions
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 5,203	$ 4,642

Debt Obligations - Narrative (Details) - Line of Credit $ in Millions	3 Months Ended
	Mar. 31, 2026 USD ($)
2024 Credit Agreement \| Revolving Credit Facility
Debt Instrument [Line Items]
Maximum percentage of credit outstanding (as a percent)	35.00%
Maximum net leverage ratio, period one	6.90
Maximum net leverage ratio, period two	6.40
Residual Finance Credit Facility \| Secured Debt
Debt Instrument [Line Items]
Covenant, minimum liquidity amount	$ 2.0
Covenant, minimum tangible net worth	$ 5.0
Debt instrument, covenant, maximum default ratio one	2.50%
Debt instrument, covenant, maximum default ratio two	5.00%
Debt instrument, covenant, minimum excess spread ratio	1.00

Earnings per Common Share - Schedule of Antidilutive Securities (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities that were excluded from loss per common share (in shares)	671	1,942
Restricted stock awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities that were excluded from loss per common share (in shares)	44	1,078
Liability-classified restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities that were excluded from loss per common share (in shares)	157	0
Outstanding stock option awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities that were excluded from loss per common share (in shares)	470	864

Stockholders' Deficit (Details) - USD ($) $ in Millions	39 Months Ended	51 Months Ended
Stockholders' Deficit (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2026	Dec. 31, 2025	May 05, 2025	Dec. 31, 2022
Equity [Abstract]
Preferred stock authorized (in shares)	100,000,000	100,000,000	100,000,000
Preferred stock shares issued (in shares)	0	0	0
Authorized amount to be repurchased (in shares)				5,000,000	2,000,000
Authorized amount to be repurchased				$ 40.0	$ 10.0
Number of shares repurchased (in shares)	0	1,309,374
Value of shares repurchased		$ 5.8

Stock-based Compensation - Schedule of Equity-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 2,088	$ 1,586
Stock-based compensation expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	1,843	1,484
Incentive units compensation expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	36	87
Liability-classified compensation expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	183	0
ESPP compensation expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 26	$ 15

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(i)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iii)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iv)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(ii)
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-3

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Subparagraph (a)(3)
-Publisher FASB
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
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Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Unaudited Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 92,152	$ 77,192
Restricted cash	16,403	16,457
Accounts receivable, net of allowances of $6,217 and $6,297, respectively	88,547	91,300
Prepaid expenses and other current assets	29,357	32,145
Current portion of notes receivable, net of allowance of $0 and $0, respectively	2,410	2,062
Settlement assets	1,355,757	1,295,896
Total current assets	1,584,626	1,515,052
Notes receivable, less current portion	25,340	17,629
Property, equipment and software, net	59,785	58,636
Goodwill	416,535	416,641
Intangible assets, net	302,518	315,190
Deferred income taxes, net	47,102	46,350
Other noncurrent assets	30,300	29,306
Total assets	2,466,206	2,398,804
Current liabilities:
Accounts payable and accrued expenses	58,754	70,636
Accrued residual commissions	43,558	40,463
Customer deposits and advance payments	2,728	1,972
Current portion of long-term debt	525	0
Settlement obligations	1,356,128	1,297,263
Total current liabilities	1,461,693	1,410,334
Long-term debt, net of current portion, discounts and debt issuance costs	1,045,909	1,039,358
Other noncurrent liabilities	40,440	41,484
Total liabilities	2,548,042	2,491,176
Commitments and contingencies (Note 13)
Stockholders' deficit:
Preferred stock, $0.001; 100,000,000 shares authorized; 0 issued or outstanding at March 31, 2026 and December 31, 2025	0	0
Common Stock, $0.001 par value; 1,000,000,000 shares authorized; 87,200,122 and 86,639,593 shares issued at March 31, 2026 and December 31, 2025, respectively; and 82,301,383 and 81,907,304 shares outstanding at March 31, 2026 and December 31, 2025, respectively	82	82
Treasury stock at cost, 4,898,739 and 4,732,289 shares at March 31, 2026 and December 31, 2025, respectively	(23,643)	(22,759)
Additional paid-in capital	15,902	13,925
Accumulated other comprehensive loss	(563)	(210)
Accumulated deficit	(81,693)	(91,453)
Total stockholders' deficit attributable to stockholders of Priority	(89,915)	(100,415)
Non-controlling interests in consolidated subsidiaries	8,079	8,043
Total stockholders' deficit	(81,836)	(92,372)
Total liabilities, stockholders' deficit and Non-controlling interest	$ 2,466,206	$ 2,398,804

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Other Commitments [Line Items]
Contingent liabilities	$ 27.2	$ 27.2
Capital Commitments
Other Commitments [Line Items]
Other commitment	$ 2.2	$ 3.2
Purchase commitment, maximum contractual term	10 days

Unaudited Consolidated Statements of Operations and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Income Statement [Abstract]
Revenues	$ 249,558	$ 224,630
Operating expenses
Cost of revenue (excludes depreciation and amortization)	150,787	137,353
Salary and employee benefits	28,522	25,775
Depreciation and amortization	17,615	13,777
Selling, general and administrative	19,244	15,100
Total operating expenses	216,168	192,005
Operating income	33,390	32,625
Other expense
Interest expense	(21,016)	(23,176)
Debt extinguishment and modification costs	0	(38)
Other income, net	1,032	1,107
Total other expense, net	(19,984)	(22,107)
Income before income taxes	13,406	10,518
Income tax expense	3,646	2,250
Net income attributable to common stockholders	9,760	8,268
Other comprehensive income
Foreign currency translation adjustments	(353)	43
Comprehensive income	$ 9,407	$ 8,311
Earnings per common share:
Basic (in dollars per share)	$ 0.12	$ 0.10
Diluted (in dollars per share)	$ 0.12	$ 0.10
Weighted-average common shares outstanding:
Basic (in shares)	81,373	78,774
Diluted (in shares)	83,647	79,857

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2026
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company's consolidated effective income tax rate for the three months ended March 31, 2026 was 27.2% compared to a consolidated effective income tax rate of 21.4% for the three months ended March 31, 2025. The effective rates differed from the statutory rate of 21.0% primarily due to certain forecasted nondeductible expenses. Valuation Allowance for Deferred Income Tax Assets The Company considers all available positive and negative evidence to determine whether sufficient taxable income will be generated in the future to permit realization of the existing deferred tax assets. In accordance with the provisions of ASC 740, Income Taxes, the Company is required to provide a valuation allowance against deferred income tax assets when it is "more likely than not" that some portion or all of the deferred tax assets will not be realized. Based on management's assessment, as of March 31, 2026, the Company continues to record a full valuation allowance against certain transaction costs, and net deferred tax assets acquired as part of the Payslate acquisition. The Company will continue to evaluate the realizability of the net deferred tax asset on a quarterly basis and, as a result, the valuation allowance may change in future periods.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477617/942-740-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
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-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478822/944-740-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
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-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Section S99
-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-URI https://asc.fasb.org/740/tableOfContent

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
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-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
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-Paragraph 2
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-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill

The Company's goodwill relates to the following reportable segments:


(in thousands)	March 31, 2026		December 31, 2025
Merchant Solutions	$	158,298	$	158,298
Treasury Solutions	250,997		251,103
Payables	7,240		7,240
Total	$	416,535	$	416,641

The following table summarizes the changes in the carrying value of goodwill:


(in thousands)	Amount
Balance at December 31, 2025	$	416,641

Foreign currency translation adjustment	(106)
Balance at March 31, 2026	$	416,535

As of March 31, 2026, the Company is not aware of any triggering events for impairment that have occurred since the last annual impairment test.

Intangible Assets

Intangible assets consisted of the following:


	March 31, 2026						Weighted-average Useful Life
(in thousands, except weighted-average data)	Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Intangible assets:
ISO and referral partner relationships	$	223,016	$	(67,372)	$	155,644	14.3
Residual buyouts	177,864		(124,755)		53,109		6.0
Customer relationships	139,436		(100,027)		39,409		8.5
Merchant portfolios	83,350		(69,662)		13,688		6.5
Technology	63,590		(34,007)		29,583		8.7
Trade names	13,320		(4,335)		8,985		10.5

Money transmission licenses(1)	2,100		—		2,100
Total	$	702,676	$	(400,158)	$	302,518	9.5

(1)These assets have an indefinite useful life.


	December 31, 2025						Weighted-average Useful Life
(in thousands, except weighted-average data)	Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Intangible assets:
ISO and referral partner relationships	$	223,016	$	(63,701)	$	159,315	13.8
Residual buyouts	177,864		(119,861)		58,003		6.0
Customer relationships	139,463		(98,478)		40,985		8.8
Merchant portfolios	83,350		(68,787)		14,563		6.5
Technology	63,602		(32,684)		30,918		8.5
Trade names	13,329		(4,023)		9,306		10.6

Money transmission licenses(1)	2,100		—		2,100
Total	$	702,724	$	(387,534)	$	315,190	9.4

(1)These assets have an indefinite useful life.


	Three Months Ended March 31,
(in thousands)		2026		2025
Amortization expense(1)		$	13,242	$	9,915

(1)Included in amortization expense is $0.6 million for the three months ended March 31, 2026 and 2025, respectively, related to the amortization of certain contract acquisition costs.

As of March 31, 2026, there were no impairment indicators present.

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2026
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events The Company’s management evaluated subsequent events through the date of the issuance of the unaudited consolidated financial statements. There have been no subsequent events that occurred during such period that would require disclosure in, or would be required to be recognized in the unaudited consolidated financial statements as of and for the quarter ended March 31, 2026.

Segment Information - Narrative (Details)	3 Months Ended
Segment Information - Narrative (Details)	Mar. 31, 2026 segment
Segment Reporting [Abstract]
Number of reportable segments	3

Acquisitions - Narrative (Details) - USD ($) $ in Thousands					3 Months Ended
Acquisitions - Narrative (Details) - USD ($) $ in Thousands	Oct. 01, 2025	Aug. 26, 2025	Aug. 18, 2025	Jan. 21, 2025	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025
Business Combination [Line Items]
Cash consideration, net of cash acquired					$ 0	$ 4,473
Goodwill					416,535		$ 416,641
Contingent consideration					28,700
Boom Commerce Residual Portfolio Rights
Business Combination [Line Items]
Purchase price			$ 73,500
Common shares issued			$ 13,500
Threshold period			3 years
Boom Commerce Residual Portfolio Rights \| Maximum
Business Combination [Line Items]
Earn-out payments			$ 17,000
Treasury Solutions
Business Combination [Line Items]
Goodwill					250,997		251,103
Merchant Solutions
Business Combination [Line Items]
Goodwill					$ 158,298		$ 158,298
Letus Business
Business Combination [Line Items]
Percentage of equity interest acquired				100.00%
Consideration transferred				$ 8,800
Cash consideration, net of cash acquired				4,400
Deferred consideration				4,282
Contingent consideration transferred				104
Deferred consideration				$ 4,300
Monthly payments equal to percent of cash available for contingent consideration				0.40
Maximum amount of contingent consideration				$ 6,500
Goodwill				6,070
Goodwill deductible for income tax purposes				0
Cash paid to acquire business				$ 4,627
Letus Business \| Treasury Solutions
Business Combination [Line Items]
Goodwill segment allocation percentage				100.00%
Sila Business
Business Combination [Line Items]
Consideration transferred		$ 7,200
Deferred consideration		3,800
Contingent consideration transferred		3,881
Maximum amount of contingent consideration		17,000
Cash paid to acquire business		3,449
Contingent consideration contractual earn-outs		$ 3,900
Contingent consideration term		7 years
DMS
Business Combination [Line Items]
Consideration transferred	$ 57,900
Deferred consideration	2,801
Contingent consideration transferred	17,066
Maximum amount of contingent consideration	22,500
Goodwill	34,159
Goodwill deductible for income tax purposes	0
Cash paid to acquire business	$ 31,500
Contingent consideration term	4 years
Common equity of the Acquiring Entity	$ 6,562
Contingent consideration	$ 17,100
DMS \| Merchant Solutions
Business Combination [Line Items]
Goodwill segment allocation percentage	100.00%

Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2026

Commitments and Contingencies Disclosure [Abstract]

Schedule of Contractual Obligation Maturity

Based on existing contracts in place at March 31, 2026, the Company is committed to pay minimum processing fees under these agreements as noted below:


(in thousands)
Period Ending March 31,
2027	$	25,654
2028	28,123
2029	18,625
2030	18,625
2031	18,625
Thereafter	13,969
Total	$	123,621

Schedule of Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation

The following table provides a reconciliation of the beginning and ending balance of the Company's deferred and contingent consideration liabilities related to completed acquisitions:


(in thousands)	Contingent Consideration Liabilities		Deferred Consideration Liabilities
December 31, 2025	$	21,058	$	7,296



Accretion	289		139

Payments	—		(80)
Foreign currency translation adjustment	(2)		—
March 31, 2026	$	21,345	$	7,355

Fair Value (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	$ 28.7
Contingent consideration current	1.1
Contingent consideration noncurrent	27.6
Notes receivable, fair value	27.8	$ 19.7
Long term incentive award, fair value	2.2
Long term incentive award, fair value, current	1.5
Long term incentive award, fair value, noncurrent	0.7
Line of Credit \| Secured Debt \| 2024 Credit Agreement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	$ 989.4	$ 998.3

Notes Receivable

3 Months Ended

Mar. 31, 2026

Receivables [Abstract]

Notes Receivable

The Company had notes receivable of $27.8 million and $19.7 million as of March 31, 2026 and December 31, 2025, respectively, which are reported as current portion of notes receivable and notes receivable less current portion on the Company's Unaudited Consolidated Balance Sheets. The notes receivable carried weighted-average interest rates of 13.1% and 13.6% as of March 31, 2026 and December 31, 2025, respectively. The notes are receivables from ISOs and ISVs, which are made with a term of 1-5 years. Under the terms of the agreements, the Company will hold back residual payments due to the ISOs and ISVs and apply such residuals against future payment due to the Company. As of March 31, 2026 and December 31, 2025, there were no allowance for expected losses on notes receivable.

The following table provides a reconciliation for activity within the notes receivable as of March 31, 2026:


(in thousands)
Balance at December 31, 2025	$	19,691
Principal payments received	(516)
Advances during the period	8,575
Balance at March 31, 2026	$	27,750

As of March 31, 2026, the principal payments for t

he Company's notes receivable are due as follows:


(in thousands)
Twelve months ending March 31,
2027	$	2,410
2028	5,536
2029	6,612
2030	5,579
2031	7,613
Thereafter	—
Total	$	27,750

Basis of Presentation and Significant Accounting Policies

3 Months Ended

Mar. 31, 2026

Accounting Policies [Abstract]

Basis of Presentation and Significant Accounting Policies

Business, Consolidation and Presentation

Priority Technology Holdings, Inc. and its consolidated subsidiaries are referred to herein collectively as "Priority," the "Company," "we," "our" or "us," unless the context requires otherwise. Priority is a payments and banking fintech purpose-built to collect, store, lend and send money with a connected commerce engine that combines full-service merchant acquiring for accounts receivable, complete automated payables tool for bill payment, and sophisticated treasury management solutions to accelerate cash flow and optimize working capital for its customers.

The Company operates on a calendar year ending each December 31 and reports quarterly results on four calendar quarters ending on March 31, June 30, September 30 and December 31 of each year. Results of operations reported for interim periods are not necessarily indicative of results for the entire year.

The accompanying Unaudited Consolidated Financial Statements include the accounts of the Company and its majority-owned subsidiaries. All material intercompany balances and transactions have been eliminated in consolidation. These Unaudited Consolidated Financial Statements have been prepared in accordance with GAAP for interim financial information pursuant to the rules and regulations of the SEC. The Consolidated Balance Sheet as of December 31, 2025 was derived from the audited consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2025 but does not include all disclosures required by GAAP for annual consolidated financial statements.

NCI represents the equity interest in certain consolidated entities in which the Company owns less than 100% of the profit interests. Changes in the Company's ownership interest while the Company retains its controlling interest are accounted for as equity transactions. As of March 31, 2026, there was no income attributable to NCI in accordance with the applicable operating agreements.

In the opinion of the Company's management, all known adjustments necessary for a fair presentation of the Unaudited Consolidated Financial Statements for interim periods have been made. These adjustments consist of normal recurring accruals and estimates that affect the carrying amounts of assets and liabilities. These Unaudited Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2025.

Certain amounts from prior periods have been reclassified to conform to the current period’s presentation. The effect of these reclassifications on our company’s previously reported consolidated financial statements was not material.

Segment Renaming

During the year ended December 31, 2025, the Company renamed its segments to align with the services offered. SMB Payments was renamed to Merchant Solutions, B2B Payments was renamed to Payables and Enterprise Payments was renamed to Treasury Solutions. There was no other change to the segments, see further information at Note 15. Segment Information.

Use of Estimates

The preparation of Unaudited Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the Unaudited Consolidated Financial Statements and the reported amounts of revenues and expenses during the reported period. Actual results could materially differ from those estimates.

Foreign Currency

The Company's reporting currency is the U.S. dollar. The functional currency of the Indian subsidiary of the Company is the Indian Rupee. The functional currency of the Canadian subsidiaries of the Company is the Canadian Dollar. Accordingly, assets and liabilities denominated in a foreign currency are translated into U.S. dollars at the current exchange rate on the last day of

the reporting period. Revenues and expenses are translated using the average exchange rate in effect during the reporting period. Translation adjustments are reported as a component of accumulated other comprehensive income.

Allowance for Expected Losses

A reconciliation of the beginning and ending amount of allowance for expected losses is as follows:


(in thousands)	Accounts receivable		Settlement assets
Balance at December 31, 2025	$	(6,297)	$	(7,069)
Charge-offs (recoveries), net	457		4,177
Provision	(377)		(2,329)
Balance at March 31, 2026	$	(6,217)	$	(5,221)

The Company has elected not to measure expected losses for accrued interest on notes receivable but instead recognize losses for accrued interest within the period losses are incurred.

Recently Adopted Accounting Standards

Measurement of Credit Losses for Accounts Receivable and Contract Assets ASU 2025-05

In July 2025, the FASB issued ASU 2025-05, Financial Instruments - Credit Losses (Topic 326) ("ASU 2025-05") providing a practical expedient when estimating expected credit losses which assumes current conditions as of the balance sheet date do not change for the remaining life of the accounts receivable and contract asset. The ASU is effective for fiscal years beginning after December 15, 2025, and interim reporting periods within those annual reporting periods. Early adoption is permitted. Adoption of this standard did not have any material impact on results of operations, financial position, cash flows or disclosures.

Recently Issued Accounting Standards Pending Adoption

Disaggregation of Income Statement Expenses ASU 2024-03

In November 2024, the FASB issued ASU 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40) ("ASU 2024-03") requiring additional disaggregated disclosures in the notes to financial statements for certain categories of expenses that are included on the face of the income statement. The ASU is effective for fiscal years beginning after December 15, 2026 and interim periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company will adopt this guidance for the year ended December 31, 2027. This guidance is expected to only impact the disclosures with no impact on the results of operations, financial position or cash flows.

Accounting for Internal-Use Software ASU 2025-06,

In September 2025, the FASB issued ASU 2025-06, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40) ("ASU 2025-06") for targeted improvements to the accounting for internal-use software. The amendment updates guidance to consider different methods of software development, updating the requirements for capitalization of software costs. This ASU is effective for annual reporting periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods, with early adoption permitted. The Company is currently evaluating the impact this ASU will have on its consolidated financial statements.

Interim Reporting ASU 2025-11

In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270) ("ASU 2025-11") provides clarity about the current requirements for a comprehensive list of interim disclosures and also requires the Company to disclose events since the end of the last annual reporting period which have a material impact on the Company. This ASU is effective for interim

reporting periods within annual reporting periods beginning after December 15, 2027 and early adoption is permitted. The Company is currently evaluating the impact this ASU will have on its interim consolidated financial statements and disclosures.

Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Cash flows from operating activities:
Net income	$ 9,760	$ 8,268
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of assets	17,615	13,777
Stock-based compensation, ESPP, and incentive units compensation	2,088	1,586
Amortization of debt issuance costs and discounts	467	434
Debt extinguishment and modification costs	0	38
Deferred income tax	(752)	(2,236)
Change in contingent consideration	428	1,006
Other non-cash items, net	(204)	(20)
Change in operating assets and liabilities:
Accounts receivable	2,753	(12,182)
Prepaid expenses and other current assets	(2,991)	(73)
Income taxes	4,188	4,429
Accounts payable and accrued expenses	(11,743)	(8,777)
Accrued residual commissions	3,095	2,981
Customer deposits and advance payments	756	260
Other assets, net	(15)	548
Other liabilities, net	(1,606)	(83)
Net cash provided by operating activities	23,839	9,956
Cash flows from investing activities:
Acquisition of business, net of cash acquired	0	(4,473)
Additions to property, equipment and software	(5,523)	(5,095)
Notes receivable, net (see Note 5)	(8,059)	(147)
Short-term investments	25,000	0
Net cash provided by/(used in) investing activities	11,418	(9,715)
Cash flows from financing activities:
Proceeds from issuance of long-term debt	6,800	0
Debt issuance and modification costs paid	0	(40)
Repayments of long-term debt	(191)	(10,000)
Shares withheld for taxes	(884)	(1,470)
Proceeds from exercise of stock options	0	110
Settlement obligations, net	64,981	59,060
Payment of deferred/contingent consideration	(80)	(400)
Net cash provided by financing activities	70,626	47,260
Net increase in cash and cash equivalents, and restricted cash	105,883	47,501
Cash and cash equivalents and restricted cash at beginning of period	1,345,998	993,864
Cash and cash equivalents and restricted cash at end of period	1,451,881	1,041,365
Reconciliation of cash and cash equivalents, and restricted cash:
Cash and cash equivalents	92,152	47,587
Restricted cash	16,403	11,490
Cash and cash equivalents included in settlement assets (restricted in nature) (see Note 4)	1,343,326	982,288
Total cash and cash equivalents, and restricted cash	1,451,881	1,041,365
Supplemental cash flow information:
Cash paid for interest	20,125	21,471
Cash paid for income taxes, net of refunds	105	31
Non-cash investing and financing activities:
Deferred consideration accrual	0	6,500
Foreign currency adjustment to goodwill and intangibles	$ 149	$ 62

Unaudited Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Statement of Financial Position [Abstract]
Accounts receivable allowance for credit loss	$ 6,217	$ 6,297
Notes receivable, allowance for credit loss	$ 0	$ 0
Preferred stock par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock authorized (in shares)	100,000,000	100,000,000
Preferred stock shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common shares, par value (in dollars per share)	$ 0.001	$ 0.001
Common shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock issued (in shares)	87,200,122	86,639,593
Common stock, shares outstanding (in shares)	82,301,383	81,907,304
Treasury stock (in shares)	4,898,739	4,732,289

Settlement Assets and Obligations (Tables)

3 Months Ended

Mar. 31, 2026

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Settlement Assets

The Company's consolidated settlement assets and obligations were as follows:


(in thousands)	March 31, 2026		December 31, 2025
Settlement Assets, net of estimated losses(1):
Card settlements due from merchants(1)(2)	$	2,239	$	2,455
Card settlements due from networks	10,192		16,092

Subtotal	12,431		18,547
MTL Customer cash and cash equivalents (restricted in nature)(3)	1,343,326		1,252,349
MTL Short-term investments	—		25,000
Total settlement assets	$	1,355,757	$	1,295,896

Settlement Obligations:
MTL Customer account obligations	$	1,319,801	$	1,244,975
Subscriber account obligations	22,386		32,031
Total customer/subscriber account obligations	1,342,187		1,277,006
Due to customers' payees(4)(5)	13,941		20,257
Total settlement obligations	$	1,356,128	$	1,297,263

(1)Allowance for estimated losses were $5.2 million and $7.1 million as of March 31, 2026 and December 31, 2025, respectively.

(2)Excludes merchant funds held at member banks of $114.0 million and $103.9 million on March 31, 2026 and December 31, 2025, respectively.

Schedule of Settlement Obligations

The Company's consolidated settlement assets and obligations were as follows:


(in thousands)	March 31, 2026		December 31, 2025
Settlement Assets, net of estimated losses(1):
Card settlements due from merchants(1)(2)	$	2,239	$	2,455
Card settlements due from networks	10,192		16,092

Subtotal	12,431		18,547
MTL Customer cash and cash equivalents (restricted in nature)(3)	1,343,326		1,252,349
MTL Short-term investments	—		25,000
Total settlement assets	$	1,355,757	$	1,295,896

Settlement Obligations:
MTL Customer account obligations	$	1,319,801	$	1,244,975
Subscriber account obligations	22,386		32,031
Total customer/subscriber account obligations	1,342,187		1,277,006
Due to customers' payees(4)(5)	13,941		20,257
Total settlement obligations	$	1,356,128	$	1,297,263

(1)Allowance for estimated losses were $5.2 million and $7.1 million as of March 31, 2026 and December 31, 2025, respectively.

(2)Excludes merchant funds held at member banks of $114.0 million and $103.9 million on March 31, 2026 and December 31, 2025, respectively.

Acquisitions (Tables)

3 Months Ended

Mar. 31, 2026

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Schedule of Purchase Price Allocation

The final purchase price allocation is set forth in the table below:


(in thousands)
Consideration:
Cash(1)	$	4,627
Deferred consideration (2)	4,282
Contingent consideration(3)	104
Less: cash acquired	(175)
Total purchase consideration, net of cash acquired	$	8,838

Recognized amounts of assets acquired and liabilities assumed(4):
Accounts receivable	$	149
Prepaid expenses	229
Property, equipment and software	8
Goodwill	6,070
Intangible assets:
Customer relationships	1,555
Trademarks	480
Technology	706
Accounts payable and accrued expenses	(359)
Total purchase consideration	$	8,838

(1)Cash at closing net of adjustments from estimated net working capital to actual working capital.

(3)The contingent consideration represents the fair value of the share of net operating loss carryforwards owed to the seller in the future.

(4)Includes deferred tax asset of $3.8 million which has a full valuation allowance.

The preliminary purchase price allocation is set forth in the table below:


(in thousands)
Consideration:
Cash(1)(4)	$	3,449
Contingent consideration (2)(4)	3,881
Less: cash acquired	(100)
Total purchase consideration, net of cash acquired	$	7,230

Recognized amounts of assets acquired and liabilities assumed:
Accounts receivable(4)	$	68
Prepaid expenses(4)	346
Other noncurrent assets(3)(4)	9,522
Intangible assets:
Trademarks(4)	772
Technology(4)	943
Accounts payable and accrued expenses(4)	(386)
Customer deposits	(46)
Fair value of net assets acquired	$	11,219

Estimated bargain purchase gain(4)	$	3,989

(1)Cash at closing net of adjustments from estimated net working capital and closing cash.

(3)Includes a deferred tax asset of $9.5 million.

(4)During the fourth quarter of 2025, the Company recorded measurement period adjustments due to additional information received that existed on the acquisition date.

The preliminary purchase price allocation is set forth in the table below:


(in thousands)
Consideration:
Cash	$	31,500
Contingent consideration(2)	17,066
Common equity of the Acquiring Entity(3)	6,562
Deferred consideration(1)	2,801
Total purchase consideration, net of cash acquired	$	57,929

Recognized amounts of assets acquired and liabilities assumed:
Accounts receivable	$	11
Inventory	145
Other noncurrent assets	7
Goodwill	34,159
Intangible assets:
Customer relationships	17,187
Trademarks	3,222
Technology	3,277
Accounts payable and accrued expenses	(79)
Total purchase consideration	$	57,929

(1)The deferred consideration represents the fair value of the amount to be remitted upon direction of the seller no later than four years from the acquisition date.

Commitments and Contingencies

3 Months Ended

Mar. 31, 2026

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Minimum Annual Commitments with Third-party Processors

The Company has multi-year agreements with third parties to provide certain payment processing services to the Company. The Company pays processing fees under these agreements that are based on the volume and dollar amounts of processed payment transactions. Some of these agreements have minimum annual requirements for processing volumes. Based on existing contracts in place at March 31, 2026, the Company is committed to pay minimum processing fees under these agreements as noted below:


(in thousands)
Period Ending March 31,
2027	$	25,654
2028	28,123
2029	18,625
2030	18,625
2031	18,625
Thereafter	13,969
Total	$	123,621

Other Commitments

As of March 31, 2026 and December 31, 2025, the Company had a capital contribution commitment of $2.2 million and $3.2 million respectively, to fund operations of certain subsidiaries. The Company is obligated to make the contributions within 10 business days of receiving notice for such contribution from the subsidiary.

Contingent/Deferred Consideration

The following table provides a reconciliation of the beginning and ending balance of the Company's deferred and contingent consideration liabilities related to completed acquisitions:


(in thousands)	Contingent Consideration Liabilities		Deferred Consideration Liabilities
December 31, 2025	$	21,058	$	7,296



Accretion	289		139

Payments	—		(80)
Foreign currency translation adjustment	(2)		—
March 31, 2026	$	21,345	$	7,355

Earn-outs/additional considerations from asset purchase transactions are considered as contingent liabilities until it becomes payable or paid. As of March 31, 2026, and December 31, 2025, the total contingent liabilities related to our asset purchases are $27.2 million.

Legal Proceedings

The Company is involved in certain legal proceedings and claims which arise in the ordinary course of business. In the opinion of the Company and based on consultations with internal and external counsel, the results of any of these matters, individually and in the aggregate, are not expected to have a material effect on the Company's results of operations, financial condition or cash flows. As more information becomes available, and the Company determines that an unfavorable outcome is probable on a claim and that the amount of probable loss that the Company will incur on that claim is reasonably estimable, the Company will record an accrued expense for the claim in question. If and when the Company records such an accrual, it could be material and could adversely impact the Company's results of operations, financial condition and cash flows.

Concentration of Risks

The Company's revenue is substantially derived from processing Visa and Mastercard bankcard transactions. Because the Company is not a member bank, to process these bankcard transactions, the Company maintains sponsorship agreements with member banks which require, among other things, that the Company abide by the by-laws and regulations of the card association.

A majority of the Company's cash and restricted cash is held in certain FIs, substantially all of which is in excess of FDIC limits. The Company does not believe it is exposed to any significant credit risk from these transactions.

Revenues (Tables)

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenues

The following table presents a disaggregation of our consolidated revenues by type:


	Three Months Ended March 31,
(in thousands)		2026		2025
Revenue Type:
Merchant card fees		$	185,933	$	167,079
Money transmission services		41,748		37,449
Outsourced services and other services(2)		19,826		17,002
Equipment		2,051		3,100
Total revenues(1)		$	249,558	$	224,630

The following table presents a disaggregation of our consolidated revenues by segment:


	Three Months Ended March 31, 2026
(in thousands)	Merchant Card Fees		Money Transmission Services		Outsourced and Other Services		Equipment		Total
Segment
Merchant Solutions	$	158,499	$	—	$	1,236	$	2,051	$	161,786
Payables	27,195		—		5,246		—		32,441
Treasury Solutions	3,277		41,748		13,815		—		58,840
Eliminations	(3,038)		—		(471)		—		(3,509)
Total revenues	$	185,933	$	41,748	$	19,826	$	2,051	$	249,558


	Three Months Ended March 31, 2025
(in thousands)	Merchant Card Fees		Money Transmission Services		Outsourced and Other Services		Equipment		Total
Segment
Merchant Solutions	$	147,481	$	—	$	1,109	$	3,100	$	151,690
Payables	19,769		—		4,149		—		23,918
Treasury Solutions	607		37,449		12,032		—		50,088
Eliminations	(778)		—		(288)		—		(1,066)
Total revenues	$	167,079	$	37,449	$	17,002	$	3,100	$	224,630

Unaudited Consolidated Statements of Changes in Stockholders' Deficit and Non-Controlling Interest - USD ($) $ in Thousands	Total	Deficit Attributable to Stockholders	Common Stock	Treasury Stock	APIC	AOCI	Accumulated Deficit	NCIs
Beginning balance, common stock (in shares) at Dec. 31, 2024			77,480,000
Beginning balance, treasury stock (in shares) at Dec. 31, 2024				4,386,000
Beginning balance at Dec. 31, 2024	$ (165,025)	$ (166,840)	$ 77	$ (19,607)	$ 0	$ (176)	$ (147,134)	$ 1,815
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-classified stock-based compensation	1,499	1,499			1,499
Vesting of stock awards and ESPP purchases (in shares)			534,000
Vesting of stock awards and ESPP purchases	63	63	$ 1		62
Shares withheld for taxes (in shares)			(122,000)	122,000
Shares withheld for taxes	(1,470)	(1,470)		$ (1,470)
Exercise of stock options (in shares)			16,000
Exercise of stock options	110	110			110
Exercise of warrants (in shares)			1,804,000
Exercise of warrants	0	0	$ 2		(2)
Issuance of profit interests in subsidiaries	87							87
Foreign currency translation adjustment	43	43				43
Net income	8,268	8,268					8,268
Ending balance, common stock (in shares) at Mar. 31, 2025			79,712,000
Ending balance, treasury stock (in shares) at Mar. 31, 2025				4,508,000
Ending balance at Mar. 31, 2025	$ (156,425)	(158,327)	$ 80	$ (21,077)	1,669	(133)	(138,866)	1,902
Beginning balance, common stock (in shares) at Dec. 31, 2025	81,907,304		81,907,000
Beginning balance, treasury stock (in shares) at Dec. 31, 2025	4,732,289			4,732,000
Beginning balance at Dec. 31, 2025	$ (92,372)	(100,415)	$ 82	$ (22,759)	13,925	(210)	(91,453)	8,043
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Equity-classified stock-based compensation	1,869	1,869			1,869
Vesting of stock awards and ESPP purchases (in shares)			561,000
Vesting of stock awards and ESPP purchases	108	108			108
Shares withheld for taxes (in shares)			(167,000)	167,000
Shares withheld for taxes	(884)	(884)		$ (884)
Issuance of profit interests in subsidiaries	36							36
Foreign currency translation adjustment	(353)	(353)				(353)
Net income	$ 9,760	9,760					9,760
Ending balance, common stock (in shares) at Mar. 31, 2026	82,301,383		82,301,000
Ending balance, treasury stock (in shares) at Mar. 31, 2026	4,898,739			4,899,000
Ending balance at Mar. 31, 2026	$ (81,836)	$ (89,915)	$ 82	$ (23,643)	$ 15,902	$ (563)	$ (81,693)	$ 8,079

Stock-based Compensation (Tables)

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

Schedule of Equity-Based Compensation

Stock-based compensation expense, which is included in salary and employee benefits within the Unaudited Consolidated Statements of Operations and Comprehensive Income, was as follows:


	Three Months Ended March 31,
(in thousands)		2026		2025
Stock-based compensation expense		$	1,843	$	1,484
Incentive units compensation expense		36		87
Liability-classified compensation expense		183		—
ESPP compensation expense		26		15
Total		$	2,088	$	1,586

Stock-based Compensation - Narrative (Details)			3 Months Ended		12 Months Ended
Stock-based Compensation - Narrative (Details)	Jun. 13, 2025 shares	Mar. 17, 2022 shares	Mar. 31, 2026 USD ($) subsidiary shares	Mar. 31, 2025 USD ($)	Dec. 31, 2021 hour shares	Dec. 31, 2018 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tax expense (benefit) recognized for equity-based compensation expense \| $			$ 100,000	$ (700,000)
Equity-based compensation expense capitalized \| $			$ 0	$ 0
Maximum hours per week \| hour					20
Number of subsidiaries \| subsidiary			7
2021 Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares available for purchase (in shares)			156,437		200,000
Additional number of shares available for purchase (in shares)	200,000
Minimum number of days employed to be eligible for plan					30 days
Purchase price (as a percent)					95.00%
2018 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares available for purchase (in shares)		9,185,696	1,121,191			6,685,696
Additional number of shares available for purchase (in shares)		2,500,000

Earnings per Common Share

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

Earnings per Common Share

The following tables set forth the computation of the Company's basic and diluted earnings per common share:


	Three Months Ended March 31,
(in thousands except per share amounts)		2026		2025
Numerator:



Net income attributable to common stockholders		$	9,760	$	8,268

Weighted average shares outstanding		81,373		78,774
Effect of dilutive potential common shares		2,274		1,083
Adjusted Weighted average shares outstanding		83,647		79,857

Basic earnings per common share		$	0.12	$	0.10
Diluted earnings per common share		$	0.12	$	0.10

Anti-dilutive securities that were excluded from the Company's earnings per common share are as follows:


	Three Months Ended March 31,
(number of shares, in thousands)		2026	2025


Restricted stock awards(1)		44	1,078
Liability-classified restricted stock units		157	—
Outstanding stock option awards(1)		470	864
Total		671	1,942

(1)Granted under the 2018 Plan.