Usio, Inc. - USIO STOCK NEWS

Usio, Inc. (Nasdaq: USIO) reported its second quarter 2020 financial results, showing a 3% decline in revenues to $7.0 million, attributed to a weak ACH consumer lending market. However, Card Processing and Prepaid business revenues increased by 4% and 58% year-over-year, respectively. Gross profit fell by 18% to $1.3 million, while net loss remained stable at $1.3 million ($0.10/share). With $1.8 million in cash and a recent $3 million capital raise, Usio is positioned for growth as demand for payment solutions remains strong amid ongoing market challenges.

Usio, a leading integrated electronic payment solutions provider, is set to announce its second quarter financial results after market close on August 13, 2020. The results will cover the period ending June 30, 2020. Management will hold a conference call on August 14 at 11:00 a.m. Eastern time to discuss these results and provide a business update. Interested parties can participate by calling designated numbers or joining a live webcast on the company's website. A replay will be available until August 28, 2020.

Usio, Inc. (Nasdaq: USIO) reported significant growth in its prepaid business, with total funds loaded onto cards skyrocketing 690% year-over-year as of July 31, 2020. The company noted a 120% increase compared to June 2020 and a 390% increase from May 2020, driven by demand for government assistance card programs. Usio attributes its success to innovative technology and strong client relationships. More information will be shared in the upcoming Second Quarter Conference Call on August 14, 2020.

Usio, Inc. (Nasdaq: USIO) reported a strong performance for Q2 2020, driven by a 64% increase in prepaid card load volumes and a 47% increase in transaction volumes. Total dollars processed reached $694 million, with credit card transactions up by 26%, marking the highest in the company's history. However, the ACH sector experienced a 21% decline in electronic check transaction volume, primarily due to ongoing consumer lending weakness. Management remains optimistic about future growth due to robust customer retention and new accounts.

Usio, Inc. (NASDAQ: USIO) has closed a private placement of 1,796,407 shares of common stock at $1.67 per share, raising net proceeds of $3 million. The funds will be utilized for working capital purposes. CEO Louis Hoch expressed optimism about the offering, highlighting investor confidence and the opportunity to support growth initiatives. Topline Capital's founder commended Usio's business quality and management vision, indicating long-term support for the company. The shares sold in the offering have not been registered under securities laws.

Usio (Nasdaq: USIO), a tech-enabled payment solutions provider, announced a partnership with Lexicon, enhancing its presence in the legal software market. This collaboration will integrate Usio's proprietary PayFac-in-a-Box™ platform into Lexicon’s offerings, simplifying payment processes for law firms and their clients. Usio's strategy focuses on securing a foothold in a fragmented market, capitalizing on Lexicon's growth in legal services. Lexicon users will benefit from improved payment options, including credit and ACH payments, aiming for faster billing cycles.

Usio (Nasdaq: USIO) announced partnerships with major legal software providers, including AppClose and the largest bankruptcy software platform. This move establishes Usio's PayFac-in-a-Box technology as the leading payments solution in the legal sector. The partnerships aim to streamline transactions for hundreds of thousands of clients by integrating Usio's payment facilitation platform, eliminating manual processes and reducing costs. With a projected rise in transaction volume, Usio expresses optimism about its foothold in a fragmented market filled with recurring payments.

Usio, Inc. (NASDAQ: USIO) reported record quarterly revenues of $7.8 million for Q1 2020, an 18% increase from the same period last year, driven by significant growth in PayFac and prepaid processing. Adjusted EBITDA improved to a loss of $193,822, reflecting a narrowing operating loss compared to $835,009 net loss for the quarter. Though the company faced challenges due to COVID-19, including a 7% decline in ACH transactions in April and a $10 million drop in credit card processing volumes, it remains optimistic about long-term growth.

Usio, Inc. (NASDAQ: USIO) announced the appointment of Greg Carter as Senior Vice President of Payment Facilitation. This leadership change is expected to bolster the company’s innovative payment facilitation division, which is experiencing rapid growth. Louis Hoch, Usio’s CEO, expressed confidence in Carter's senior executive experience in high-volume transaction environments to elevate the division. Previously, Carter was CEO of BSG Clearing Solutions, a firm with revenues exceeding $145 million. Usio continues to deliver a broad range of integrated payment solutions, supporting merchants, banks, and card issuers.