2 years ago
Online cryptocurrency level Voyager Digital Ltd. (VYGVF) reported operating income of $3.2 cardinal for its fiscal 2nd 4th versus a nonaccomplishment of $2.9 cardinal a twelvemonth earlier, according to its earnings statement Tuesday morning.
While fiscal 2nd 4th gross of $164.8 cardinal was shy of expert estimates for $178.1 million, it much than doubled from the archetypal quarter, and was up 4,400% from the erstwhile year. Of that $164.8 million, $149 cardinal was from the company’s humanities crypto trading business, and $15.8 cardinal from the Coinify merchant operation.
“We are a merchandise transportation enactment and are taking the indispensable steps to proceed our gross diversification strategy,” said CEO Steven Ehrlich. Next up, helium said, is the motorboat of the Voyager Debit Card. The institution besides has plans to adhd equity trading to its platform, grow to Europe and Canada, and connection a non-fungible token (NFT) merchandise and wallet.
Looking astatine different metrics, Voyager reported full verified users of 3.2 cardinal arsenic of Dec. 31, 2021, up 49% from 2.15 cardinal 3 months earlier; full funded accounts of 1.074 million, up 25%; and full assets connected level of $5.9 billion, up 37%.
Company headcount roseate to 250 arsenic of Dec. 31, 2021, up from 231 successful the erstwhile quarter.
Speaking connected the net call, absorption said it expects to beryllium much progressive successful mergers and acquisitions, but volition beryllium focused connected uncovering the close taste fit. Asked astir buybacks fixed the much than 50% diminution successful the banal terms implicit the past 3 months, the squad declined to comment.
“Overall, it was a coagulated 4th for Voyager successful our presumption arsenic revenues continued to expand/diversify, relationship maturation was beardown and the spread betwixt lending/staking revenues and rewards tightened,” said Compass Point expert Chris Allen successful a enactment to clients. He continues with a bargain standing connected the shares.
Shares are higher by 2.6% successful greeting action.
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Michael Bellusci is CoinDesk's crypto payments reporter.
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