The payments firm reported adjusted EBITDA of $58.1 million and reaffirmed full-year guidance amid strong segment performance.
Priority Technology reported first-quarter net revenue of $249.6 million, an 11% year-over-year increase, driven by growth in its Payables and Treasury Solutions segments. Adjusted EBITDA rose 13% to $58.1 million, while adjusted EPS climbed 27% to $0.28.
The Payables and Treasury Solutions units grew 35.6% and 17.5%, respectively, outpacing Merchant Solutions and contributing 63% of adjusted gross profit. Gross margin improved to 39.6%, supported by the stronger performance in these segments.
The company maintained its full-year revenue guidance of $1.01 billion to $1.04 billion and adjusted EBITDA forecast of $230 million to $245 million. Net leverage declined to 4.0x from 4.2x in the prior quarter, reflecting improved liquidity.