Priority Technology Holdings Inc. (NASDAQ: PRTH) saw its stock plunge 11.34% in pre-market trading on Thursday, despite reporting strong financial results for the fourth quarter and full year 2024. The company's revenue for Q4 2024 rose 13.9% year-over-year to $227.1 million, while adjusted EBITDA increased 16% to $51.7 million. Net income for the quarter stood at $7.2 million.

For the full year 2024, Priority Technology Holdings reported revenue of $879.7 million, up 16.4% from 2023, driven by momentum across all its business segments. Adjusted EBITDA for the year grew 21.3% to $204.3 million, and the company recorded a net income of $24.0 million.

The company's strong performance was fueled by continued growth in its SMB Payments, B2B Payments, and Enterprise Payments segments. The SMB Payments segment, which accounted for over 70% of the company's revenue, saw a 5.3% increase in merchant bankcard processing dollar value and an 8.6% rise in merchant bankcard transaction count for the year.

Looking ahead, Priority Technology Holdings has provided a robust outlook for fiscal year 2025. The company forecasts revenue in the range of $965 million to $1 billion, representing a growth rate of 10% to 14% compared to 2024. Adjusted EBITDA is expected to be between $220 million and $230 million, reflecting an 8% to 13% increase from the previous year.

Despite the strong financial performance and positive outlook, the stock's pre-market plunge suggests that investors may have overreacted to the news. With the company's continued momentum and growth across its diverse business segments, the sell-off could present an opportunity for investors to reassess the company's prospects.