TSX: VOYG
OTCQX: VYGVF
FRA: UCD2
Revenue growth for the fiscal 2022 third
quarter was 70% year-over-year when compared against the midpoint
of the estimated range of USD$100 million to $105 million
NEW YORK, April 7, 2022 /CNW/ - Voyager Digital Ltd.
("Voyager" or the "Company") (TSX: VOYG) (OTCQX: VYGVF) (FRA:
UCD2), one of the fastest-growing, cryptocurrency platforms in
the United States, today announced
preliminary revenue and user metrics for the fiscal 2022 third
quarter ended March 31, 2022 and is
pleased to provide commentary on the Company's calendar 2022 growth
plans.
"Voyager continued its account growth in the quarter ended
March 31, 2022 by adding 115,000
funded accounts which was slightly over a 10% growth from
December 31, 2021 and was
accomplished during an extremely challenging quarter based upon
spot market volume. In the quarter, Voyager delivered on its goal
of expanding our products by delivering the first batch of the
Voyager Debit Card and adding the Voyager desktop to a significant
beta group. We remain focused on positioning our platform as
one of the leading players in digital assets for consumers and
expect continued customer growth in 2022," said Steve Ehrlich, Voyager's CEO and
Co-founder. "As discussed at our last earnings call, in 2021
we scaled our technology to accommodate rapid growth as mainstream
crypto adoption accelerated and now in 2022 we have begun to
deliver on the expansion of our product suite and will continue to
roll out new and enhanced products and services as well as
geographic expansion."
The Company is pleased to announce the following Financial and
Operational Key Metrics for fiscal 2022 third quarter ended
March 31, 2022:
- Preliminary total revenue for the fiscal 2022 third quarter
ended March 31, 2022 is estimated
between $100 million to $105 million, compared to $164.8 million for the fiscal 2022 second quarter
ended December 31, 2021 and
$60.4 million for fiscal 2021 third
quarter ended March 31, 2021.
- Total Verified Users grew to approximately 3.5 million as of
March 31, 2022, up from 3.2 million
on December 31, 2021 and 1.0 million
on March 31, 2021.
- Total Funded Accounts grew to just under 1.2 million as of
March 31, 2022, up from 1.075 million
on December 31, 2021 and 274 thousand
on March 31, 2021.
- Net new deposits for the fiscal 2022 third quarter ended
March 31, 2022 were approximately
$395 million, compared to the
$1.04 billion for the fiscal 2022
second quarter ended December 31,
2021.
|
Mar 31, 2022
|
Dec 31, 2021
|
Mar 31, 2021
|
|
Revenues
(millions)
|
$100 -
$105(1)
|
$164.8(2)
|
$60.4
|
|
Total Funded
Accounts(in thousands)
|
1,190
|
1,075
|
274
|
|
Total Verified Users
(in thousands)
|
3,486
|
3,231
|
1,008
|
|
Net New Deposits
(millions)
|
$395
|
$1,037
|
$1,037
|
- (1) preliminary, non-reviewed and
unaudited and subject to final adjustment
(2) non-reviewed and unaudited
- All amounts are in U.S. dollars, unless
otherwise indicated.
|
Voyager is also proud to announce that its OTCQX Markets listing
under the Cusip 92919V405 is now DTCC service eligible.
Voyager will be announcing the results of its fiscal 2022 third
quarter ending March 31st on or about
May 16th.
For more information about investor events that Voyager will be
participating in, please visit
www.investvoyager.com/investorrelations/events.
All amounts are in US Dollars unless otherwise indicated.
About Voyager Digital
Ltd.
Publicly traded, Voyager Digital Ltd.'s (TSX: VOYG) (OTCQX:
VYGVF) (FRA: UCD2) US subsidiary, Voyager Digital, LLC, is a
fast-growing, cryptocurrency platform in the United States founded in 2018 to bring
choice, transparency, and cost efficiency to the marketplace.
Voyager offers a secure way to trade over 100 different crypto
assets using its easy-to-use mobile application. Through its
subsidiary Coinify ApS, Voyager provides crypto payment solutions
for both consumers and merchants around the globe. To learn more
about the company, please visit https://www.investvoyager.com.
Financial Disclaimer:
The preliminary estimated financial results and other data for
the three ended March 31, 2022 set
forth above are subject to the completion of the Company's
financial closing procedures. This data has been prepared by, and
is the responsibility of, the Company's management and audit
committee. Voyager's independent registered public accounting firm,
Marcum LLP, does not express an opinion or any other form of
assurance with respect thereto. The Company currently expects that
its final results of operations and other data for the interim
period ended March 31, 2022 will be
consistent with the estimates set forth above, but such estimates
are preliminary and Voyager's actual results of operations and
other data could differ materially from these estimates due to the
completion of its quarterly review procedures, final adjustments,
and other developments that may arise between now and the time such
unaudited consolidated financial statements for the three months
ended March 31, 2022 are
released.
Forward Looking
Statements
Certain information in this press release, including, but not
limited to, statements regarding future growth and performance of
the business, momentum in the businesses, future adoption of
digital assets, and the Company's anticipated results may
constitute forward looking information (collectively,
forward-looking statements), which can be identified by the use of
terms such as "may," "will," "should," "expect," "anticipate,"
"project," "estimate," "intend," "continue" or "believe" (or the
negatives) or other similar variations. Forward-looking statements
involve known and unknown risks, uncertainties and other factors
that may cause Voyager's actual results, performance or
achievements to be materially different from any of its future
results, performance or achievements expressed or implied by
forward-looking statements. Moreover, we operate in a very
competitive and rapidly changing environment. New risks emerge from
time to time. It is not possible for our management to predict all
risks, nor can we assess the impact of all factors on our business
or the extent to which any factor, or combination of factors, may
cause actual results to differ materially from those contained in
any forward-looking statements we may make. In light of these
risks, uncertainties, and assumptions, the future events and trends
discussed in this press release may not occur and actual results
could differ materially and adversely from those anticipated or
implied in the forward-looking statements. Forward looking
statements are subject to the risk that the global economy,
industry, or the Company's businesses and investments do not
perform as anticipated, that revenue or expenses estimates may not
be met or may be materially less or more than those anticipated,
that trading momentum does not continue or the demand for trading
solutions declines, customer acquisition does not increase as
planned, product and international expansion do not occur as
planned, risks of compliance with laws and regulations that
currently apply or become applicable to the business and those
other risks contained in the Company's public filings, including in
its Management Discussion and Analysis and its Annual Information
Form (AIF). Factors that could cause actual results of the Company
and its businesses to differ materially from those described in
such forward-looking statements include, but are not limited to, a
decline in the digital asset market or general economic conditions;
changes in laws or approaches to regulation, the failure or delay
in the adoption of digital assets and the blockchain ecosystem by
institutions; changes in the volatility of crypto currency, changes
in demand for Bitcoin and Ethereum, changes in the status or
classification of cryptocurrency assets, cybersecurity breaches, a
delay or failure in developing infrastructure for the trading
businesses or achieving mandates and gaining traction; failure to
grow assets under management, an adverse development with respect
to an issuer or party to the transaction or failure to obtain a
required regulatory approval. In connection with the
forward-looking statements contained in this press release, the
Company has made assumptions that no significant events occur
outside of the Company's normal course of business and that current
trends in respect of digital assets continue. Readers are cautioned
that Assets on Platform and trading volumes fluctuate and may
increase and decrease from time to time and that such fluctuations
are beyond the Company's control. Forward-looking statements, past
and present performance and trends are not guarantees of future
performance, accordingly, you should not put undue reliance on
forward-looking statements, current or past performance, or current
or past trends. Information identifying assumptions, risks, and
uncertainties relating to the Company are contained in its filings
with the Canadian securities regulators available
at www.sedar.com. The forward-looking statements in this press
release are applicable only as of the date of this release or as of
the date specified in the relevant forward-looking statement and
the Company undertakes no obligation to update any forward-looking
statement to reflect events or circumstances after that date or to
reflect the occurrence of unanticipated events, except as required
by law. The Company assumes no obligation to provide operational
updates, except as required by law. If the Company does update one
or more forward-looking statements, no inference should be drawn
that it will make additional updates with respect to those or other
forward-looking statements, unless required by law. Readers
are cautioned that past performance is not indicative of future
performance and current trends in the business and demand for
digital assets may not continue and readers should not put undue
reliance on past performance and current trends.
The TSX has not approved or disapproved of the information
contained herein.
Press Contacts
Voyager Digital, Ltd.
Michael Legg and Kevin
Rodriguez
Investor Relations
(212) 547-8807
mlegg@investvoyager.com, krodriguez@investvoyager.com
Voyager Public Relations Team
pr@investvoyager.com
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SOURCE Voyager Digital (Canada)
Ltd.
