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Priority Technology’s Q4 and FY 2023 show strong growth potential.

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TLDR:

Priority Technology reported robust growth in Q4 and FY 2023 with revenue increasing by 12% in Q4 and 14% for the full year. The Enterprise segment showed significant revenue and adjusted gross profit increases. The company forecasted continued revenue growth and margin expansion for 2024. Key takeaways include revenue growth in all segments, increase in adjusted EBITDA, and strategic focus on efficient capital management. The company aims for disciplined expense management and efficiency gains in 2024. Revenue growth forecasted for 2024 is projected to be 16% to 18% with improved adjusted EBITDA and adjusted gross profit. The Enterprise segment reported substantial revenue increases, a successful Plastiq acquisition, and overall strong transaction volume processing. The company is focused on embracing revenue growth initiatives and enhancing value creation.


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