Usio, Inc. - USIO STOCK NEWS

Usio, Inc. (Nasdaq: USIO) announced its third quarter 2020 results, achieving record quarterly revenues of $8.1 million, a 15% increase year-over-year. Key growth drivers included a 14% rise in Card Processing and a remarkable 225% increase in Prepaid revenues. The company's adjusted EBITDA loss improved to $253,921, reflecting a 40% enhancement compared to Q3 2019. Despite a net loss of $0.9 million, Usio’s strong balance sheet, supported by recent equity offerings, positions it for continued growth in its payment solutions market.

Usio, Inc. (Nasdaq: USIO) will announce its third quarter financial results on November 12, 2020, after market closure. The management will hold a conference call on November 13, 2020, at 11:00 a.m. ET to discuss these results and provide a business update. The call can be accessed by dialing 1-844-883-3890 for U.S. callers or 1-412-317-9246 for international participants. A replay will be available until November 27, 2020. Usio specializes in integrated electronic payment solutions, including card issuance and payment acceptance.

Usio, Inc. (Nasdaq: USIO) announced a preliminary record revenue for Q3 2020, driven by exceptional growth in card and prepaid segments. The President, Louis Hoch, noted year-over-year increases in key performance metrics, including a 15% rise in credit card dollars processed and an 81% increase in transactions. Prepaid card load volume surged by 329%, and ACH performance is also recovering. The total dollars processed reached $852 million, signaling a strong rebound from COVID-19 impacts and a positive outlook for sustained growth into Q4 2020.

Usio, Inc. (Nasdaq: USIO) has successfully closed an underwritten public offering of common stock, generating approximately $8 million in gross proceeds. The offering consisted of 4,705,883 shares priced at $1.70 each, with an additional option for underwriters to purchase 705,882 shares for over-allotments. The net proceeds will support working capital and growth investments. This offering was conducted under an effective shelf registration statement with the SEC, and the final prospectus is available online.

Usio, Inc. (Nasdaq: USIO) announced a public offering of 4,705,883 shares of common stock at $1.70 per share, aiming for gross proceeds of $8 million. The offering is scheduled to close around September 25, 2020, pending customary conditions. Ladenburg Thalmann is the book-running manager, with Barrington Research serving as co-manager. The net proceeds will be utilized for working capital, corporate purposes, and growth investments. The offering is made under an effective shelf registration statement with the SEC.

Usio, Inc. (Nasdaq: USIO) has initiated an underwritten public offering of its common stock. The offering includes a 45-day option for underwriters to buy an additional 15% of the shares. Proceeds will be directed towards working capital, general corporate purposes, and growth investments. The offering is subject to market conditions and is under a shelf registration statement. Ladenburg Thalmann & Co. is the sole book-running manager for this offering.

Usio, Inc. (Nasdaq: USIO) announced that its prepaid card-issuing platform has been chosen by 4-CT and United Way of Central and Northeastern Connecticut for distributing COVID-19 relief funds. This selection highlights Usio’s capability in providing efficient financial solutions for charitable organizations. Over 2,300 individuals in Connecticut have received support through the 4-CT Card Program, which targets those excluded from federal aid. Usio's platform allows for quick distribution of funds without needing bank account details, ensuring immediate assistance to vulnerable communities.

Usio, Inc. (Nasdaq: USIO) and Mastercard (NYSE: MA) have strengthened their collaboration by integrating Usio's prepaid platform into Mastercard's City Possible™ network. Initially aimed at assisting Los Angeles residents impacted by the pandemic, this partnership has expanded to several major U.S. cities. Usio's prepaid card solutions facilitate immediate fund access without requiring bank accounts. Key features include cash access, reloadable cards, and the ability to send virtual cards via digital platforms, enhancing financial support for communities in need.

Usio, Inc. (Nasdaq: USIO) has appointed Ernesto Beyer to its Board of Directors as of August 29, 2020, following the passing of Miguel Chapa on August 19, 2020. Beyer brings over 25 years of experience in international trade and currently serves as Latin America Market Manager for Xcoal Energy & Resources. He has held significant roles in commercial relationships with major companies in Latin America and was a Plant Manager at Trinity Industries. This appointment restores Usio's compliance with Nasdaq's corporate governance rules.