Usio, Inc. - USIO STOCK NEWS

Usio, Inc. (NASDAQ: USIO) has been highlighted by Mastercard in its marketing campaign for the City Key™ program. This program rewarded 900,000 New York City residents with $100 for receiving a COVID-19 vaccine, aimed at accelerating vaccination rates and aiding economic recovery. Usio's prepaid card technology facilitated these incentive payments, marking a significant partnership with Mastercard. The program distributed over $90 million in rewards, showcasing Usio's capacity in integrated payment solutions.

Usio, Inc. has appointed Paul Manley as the new Senior Vice President of Investor Relations, effective August 22, 2022. With over 25 years of experience, including prior roles at Wrap Technologies and leading financial firms, he aims to enhance Usio's investor relations efforts. Louis Hoch, President and CFO, expressed enthusiasm over Manley's expertise, indicating it will help improve stakeholder understanding of the company's strategy and financial performance. Usio specializes in cloud-based integrated payment solutions for various entities, including merchants and banks.

Usio, Inc. (Nasdaq: USIO) reported a 6% revenue increase to $16.2 million for Q2 2022, marking the eighth consecutive quarter of year-over-year growth. Key drivers included record credit card transactions and a 29% rise in prepaid card services. However, ACH revenue declined by 3% due to dwindling cryptocurrency activities. The company anticipates a 12-18% revenue growth for 2022, despite a 25-30% drop in ACH transactions stemming from the Voyager business loss. Usio also completed a $4 million share buyback program and welcomes new board member Michelle Miller.

Usio, Inc. (Nasdaq: USIO) announced its second quarter fiscal year 2022 financial results will be released after the market closes on August 11, 2022. A conference call for discussion of these results and business updates will take place on August 12, 2022, at 11:00 a.m. Eastern time. Interested parties can participate by calling 1-844-883-3890 (U.S.) or 1-412-317-9246 (international), or via a live webcast at www.usio.com/investors. A replay will be available after the call until August 26, 2022.

Usio, Inc. (NASDAQ: USIO) reported total processing of $2.4 billion in Q2 2022, marking a 2% sequential increase. The Card Segment, including PayFac, achieved record dollar and transaction volumes. Prepaid transactions nearly doubled year-over-year, while ACH services showed growth despite declines from prior record highs. The company maintains a revenue growth outlook of 16% - 20% for 2022. Key metrics included over $332 million processed and nearly 2.8 million transactions in the Card segment, both all-time highs. Total transactions reached 10.35 million.

Usio, Inc. reiterates its revenue guidance for 2022, projecting a growth of 16-20% compared to 2021. The company anticipates a decline in ACH transaction volume compared to record highs last year due to increased crypto enthusiasm, but a mild revenue impact is expected. Notably, Usio's ACH returned check transactions have surged, marking the highest volume in 11 years. However, Voyager Digital's recent suspension of operations poses a risk, as it accounted for 8% of Usio's revenue. Nevertheless, Usio has a solid cash position of $7.6 million and minimal debt, supporting future growth.

Usio, Inc. (Nasdaq: USIO) has expanded its reach by partnering with guaranteed income programs in New York, Chicago, Denver, and Arlington, Virginia. These programs will utilize Usio's prepaid card solution for disbursing funds, enhancing financial accessibility for participants without bank accounts. The CEO emphasized Usio's role as a leader in electronic payments for these initiatives, highlighting the convenience of direct cash transfers. The latest programs include significant financial support for low-income individuals, with targeted monthly payments designed to improve economic stability.

Usio, Inc. (Nasdaq: USIO) announced the appointment of Michelle Miller to its Board of Directors, effective June 22, 2022. With over 25 years of experience in banking, particularly in private banking and business development, Miller currently serves as Senior Vice President at Broadway Bank. She enriches the board's expertise by joining the Audit and Compensation Committees, which now brings the board's total to six members. Louis Hoch, the Vice-Chairman, expressed confidence in her ability to provide valuable insights to the company.