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Voyager Digital Sees a 70% Increase in Its Quarterly Revenue for 2022

Voyager Digital Sees a 70% Increase in Its Quarterly Revenue for 2022


Voyager Digital (TSX: VOYG), a crypto  trading platform  , released its revenue and user metrics for the quarter that ended March 31, 2022. According to the figures, revenue for the quarter was $102.7 million, up 70% compared to $60.4 million for the mentioned quarter.

Operating loss accounted for $43.0 million for the quarter compared to an income of $29.8 million for the quarter ended March 31, 2021. Also, operating loss and income that includes stock-based compensation was $5.4 million for the quarter, compared to $5.3 million for the quarter ended March 31, 2021.

Total verified users on the platform were at 3.5 million, up 9% from 3.2 million at the quarter ended December 31, 2021. Total funded accounts hit 1,190,000 as of March 31, 2022, up 11% from 1,074,000 at the quarter ended December 31, 2021. Total assets on the platform decreased to $5.8 billion from $6.0 billion on December 31, 2021. Moreover, Voyager Digital’s headcount increased to 318 as of March 31, 2022, from 250 on December 31, 2021.

Private Placement Offering Took Place

“We performed strongly amidst the challenging macroeconomic and lower trading volumes seen across our industry. Despite market conditions, we continued to deliver customer account and net deposit growth, while continuing to build upon our revenue diversification strategy. With the announcement of the private placement of approximately USD$60 million, the Company has over $225 million of net  liquidity  Read this Term, comprised of over $175 million in cash, and approximately $50 million in crypto. With the recent changes to our rewards model and actively addressing our cost structure to ensure an efficient use of capital, we are working toward a goal of returning to positive operating income, after adding back stock-based compensation, in early calendar 2023,” Steve Ehrlich, CEO and Co-founder of Voyager, commented.

The report comes after Voyager Digital raised $60 million in a private placement offering at $2.34 per share on Monday.

Voyager Digital (TSX: VOYG), a crypto  trading platform  , released its revenue and user metrics for the quarter that ended March 31, 2022. According to the figures, revenue for the quarter was $102.7 million, up 70% compared to $60.4 million for the mentioned quarter.

Operating loss accounted for $43.0 million for the quarter compared to an income of $29.8 million for the quarter ended March 31, 2021. Also, operating loss and income that includes stock-based compensation was $5.4 million for the quarter, compared to $5.3 million for the quarter ended March 31, 2021.

Total verified users on the platform were at 3.5 million, up 9% from 3.2 million at the quarter ended December 31, 2021. Total funded accounts hit 1,190,000 as of March 31, 2022, up 11% from 1,074,000 at the quarter ended December 31, 2021. Total assets on the platform decreased to $5.8 billion from $6.0 billion on December 31, 2021. Moreover, Voyager Digital’s headcount increased to 318 as of March 31, 2022, from 250 on December 31, 2021.

Private Placement Offering Took Place

“We performed strongly amidst the challenging macroeconomic and lower trading volumes seen across our industry. Despite market conditions, we continued to deliver customer account and net deposit growth, while continuing to build upon our revenue diversification strategy. With the announcement of the private placement of approximately USD$60 million, the Company has over $225 million of net  liquidity  Read this Term, comprised of over $175 million in cash, and approximately $50 million in crypto. With the recent changes to our rewards model and actively addressing our cost structure to ensure an efficient use of capital, we are working toward a goal of returning to positive operating income, after adding back stock-based compensation, in early calendar 2023,” Steve Ehrlich, CEO and Co-founder of Voyager, commented.

The report comes after Voyager Digital raised $60 million in a private placement offering at $2.34 per share on Monday.



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