Voyager Digital Records US$102.7 Million In Revenue, US$61.4 Million Net Loss In Fiscal Q3 2022

Voyager Digital Ltd. (TSX: VOYG) announced today its financial results for the fiscal third quarter of 2022, ended March 31, 2022. As it had previously announced, the firm saw its revenue decline quarter-on-quarter to US$102.7 million from Q2 2022’s US$164.8 million but an increase from Q3 2021’s US$60.4 million.

Breaking down the topline revenue figure, transaction revenue contributed US$33.4 million, merchant services contributed US$18.3 million, crypto asset lending fees contributed US$31.0 million, staking revenue contributed US$14.4 million, and the remaining US$5.6 million came from other revenue sources.

Further, the crypto platform incurred US$145.7 million in operating expenses–higher than the quarterly revenue–leading to notching an operating loss of U$43.0 million. This is a significant drop from an operating income of US$29.8 million last year.

This then led the firm to end the quarter with a net loss of US$61.4 million coming from a net income of US$2.6 million last quarter and a net loss of US$68.6 million from last year (which included a US$99.0 million loss due to change in fair value of warrant liability). The quarterly bottom line translates to US$0.36 loss per share.

The firm also ended the quarter with a cash and cash equivalents balance of US$99.4 million compared to last quarter’s ending balance of US$143.4 million. Total crypto assets held a value of US$3.43 billion, putting the balance of the current assets at US$5.91 billion while current liabilities ended at US$5.73 billion.

The blockchain company also reported that verified users on the platform are at 3.5 million, up from more than 3.2 million in the previous quarter.

The company this morning also announced it be would raising US$60.0 million at a significant discount to current market pricing.

Voyager Digital Ltd. last traded at $4.00 on the TSX, up 32.45% on the day.

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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