Voyager Digital Hits Bullseye US$165 Million Revenue Guidance For Fiscal Q2 2022

Voyager Digital Ltd. (TSX: VOYG) announced today its financial results for the fiscal second quarter of 2022, ended December 31, 2021. The results highlighted a quarterly revenue of US$164.8 million, which is in line with the previously announced revenue guidance of US$165.0 million.

The quarterly revenue is an increase from its Q1 2022 revenue of US$81.5 million and a huge jump from Q2 2021 revenue of US$3.6 million. Breaking down the topline revenue figure, transaction revenue contributed US$86.5 million, merchant services contributed US$15.8 million, crypto asset lending fees contributed US$36.2 million, staking revenue contributed US$20.7 million, and the remaining US$5.5 million came from other revenue sources.

Corollary, the crypto platform ended the quarter with a net income of US$2.6 million coming from a net loss of US$28.9 million last quarter and US$9.0 million from last year. This translates to US$0.01 earnings per diluted share.

The firm also ended the quarter with a cash and cash equivalents balance of US$143.4 million compared to last quarter’s ending balance of US$104.0 million. Total crypto assets held a value of US$3.0 billion, which includes US$468.1 million in bitcoin and US$457.5 million in the firm’s own ethereum coin, Voyager token. All these put the balance of the current assets at US$6.1 billion while current liabilities ended at US$5.9 billion.

The blockchain company also reported that verified users on the platform are at more than 3.2 million, up 49% from 2.15 million since the previous quarter.

Last week, the firm announced that users of its platform will be able to buy and sell stocks with cryptocurrencies. This move comes as part of the firm’s partnership announcement in August 2021 with Market Rebellion to operate a broker-dealer for equity trades.

Voyager Digital Ltd. last traded at $10.48 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.

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