Voyager Digital Estimates US$165 Million In Revenue For Q2 2022

Voyager Digital Ltd. (TSX: VOYG) reported today its preliminary revenue and user metrics for fiscal second quarter of 2022, ended December 31, 2021. The report highlighted an estimated quarterly revenue of US$165 million, more than double its Q1 2022 revenue of US$81.5 million and a huge jump from Q2 2021 revenue of US$3.6 million.

For the calendar year 2021, the firm estimates to exceed US$415 million in revenue compared to 2020’s revenue of US$6.6 million.

During the fiscal quarter, the crypto firm had 1.1 million funded accounts and 3.2 million verified users. These figures compare to last quarter’s 0.9 million funded accounts and 2.2 million verified users.

The company also saw net new deposits increase to US$1.04 billion during the quarter coming from US$827 million in the previous quarter.

“In 2021, we scaled our technology to accommodate rapid growth as mainstream crypto adoption accelerated,” said Voyager CEO Steve Ehrlich. “Now, with our platform and technological capabilities enhanced, 2022 marks the next phase of Voyager’s growth through product and geographic expansion, alongside marketing efforts to reach new customers.”

Erlich also said the company will continue to grow its team as it “[expands] into NFT’s, the Metaverse, and [its] own custody solution.”

Full and detailed financial report for fiscal Q2 2022 is expected to be released on February 14, 2022.

Before 2021 ended, the firm saw arrangements entered with Erlich and COO Gerard Hanshe for the two executive’s share sale plans.

Voyager Digital Ltd. last traded at $14.42 on the TSX.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply