Priority Technology Holdings Achieves Record $879.7M Revenue in 2024 as Unified Commerce Strategy Pays Off

Under CEO Thomas Priore’s leadership, Priority’s fintech platform drives double-digit growth, reshapes payment ecosystems, and sets the stage for a $1B revenue milestone in 2025.

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Priority Technology Holdings, a leading fintech firm headquartered in Alpharetta, Georgia, has announced record-breaking financial results for 2024, reporting $879.7 million in revenue—a 16.4% year-over-year increase and the highest in the company’s history. Spearheaded by Chairman and CEO Thomas Priore, the company’s continued success is anchored in its innovative unified commerce platform, which integrates acquiring, banking, and payables into one seamless experience.

Speaking during the company’s fourth-quarter earnings call, Priore emphasized the power of Priority’s commerce engine in enabling businesses to collect, store, lend, and send money more efficiently. “Our solutions create revenue and operational success for businesses, and that continues to resonate with our partners and customers,” he said.

A Year of Unprecedented Growth

Priority’s performance in 2024 marked several significant milestones. Fourth-quarter revenue alone reached $227.1 million, reflecting a 13.9% year-over-year rise. Full-year operating income soared by 63.7% to $133.4 million, while adjusted EBITDA climbed to $204.3 million, a 21.3% jump compared to 2023.

“Our business model’s highly visible and recurring nature continues to gain traction,” said Chief Financial Officer Timothy O’Leary. “Over 63% of our adjusted gross profit in Q4 came from recurring revenues not tied to transaction counts or bank card volume—a figure that has nearly doubled since early 2022.”

Strategic Focus and Diversification

Central to Priority’s success is its diversified approach to fintech. The platform processes over $130 billion in annual transaction volume and manages $1.2 billion in average daily balances across 1.2 million customer accounts.

The company’s B2B and enterprise segments were standout performers, accounting for 59% of total adjusted gross profit in 2024—a figure that climbed to 62% in Q4 alone, up from 50% in 2023. This shift highlights the growing influence of high-margin, high-growth business lines.

Notably, the enterprise payments segment generated $48.7 million in Q4 revenue, a 27% increase driven by strong client enrollments and expanding partner networks. Meanwhile, B2B payments revenue rose 10.9% year-over-year to $23.7 million. Contributions from Plastiq, acquired in August 2023, and the CPX platform were key drivers.

Strong Balance Sheet and Future Outlook

Looking ahead to 2025, Priority projects revenue between $965 million and $1 billion, representing 10% to 14% growth. Adjusted EBITDA is expected to hit between $220 million and $230 million, an 8% to 13% increase from 2024.

The company also made significant strides in strengthening its balance sheet, including the full redemption of its preferred stock and a $10 million voluntary prepayment on its term loan in February 2025. “We’re focused on enabling greater liquidity and long-term shareholder value,” Priore stated. “Our recent secondary offering roughly doubled our tradable float, creating more visibility and opportunity for investors.”

Vision Beyond Traditional Payment Models

Priore remains a passionate advocate for rethinking the future of commerce. “Traditional acquiring is a dinosaur,” he declared in a recent interview. “The conversation needs to evolve toward commerce solutions—integrated systems that blend acquiring, banking, and payables into a single platform.”

He points to sectors such as Name, Image, and Likeness (NIL) and insurance as areas where Priority’s platform is already transforming financial operations. “We’re not just enabling transactions—we’re delivering comprehensive financial experiences,” Priore noted during the Q3 earnings call.

The CEO also believes that the demand for embedded financial services—accelerated by the COVID-19 pandemic—will continue to expand rapidly. With innovations such as artificial intelligence driving optimization in vendor networks and financial strategy, Priore sees a lucrative future ahead: “This is going to be one of the most exciting financial evolutions of the next five years.”

About Priority Technology Holdings
Founded on the belief that commerce should be unified, Priority Technology Holdings offers cutting-edge fintech solutions across payments, banking, and business operations. With a rapidly growing customer base and a vision to reshape the future of finance, the company continues to lead the way in building integrated, scalable, and sustainable financial ecosystems.