Usio, Inc. - USIO STOCK NEWS

Usio, Inc. (NASDAQ: USIO) reported record results for Q4 2021, processing $2.9 billion, a 215% increase year-over-year. Total annual processing reached $9.5 billion, up 184% from 2020. The CEO highlighted significant growth in ACH transactions, with electronic check volume more than doubling and dollars processed nearly tripling. Prepaid card transactions surged 205% as total dollars loaded surpassed $65 million. Usio's payment diversification strategy has been pivotal in maintaining growth amidst potential economic challenges, with expectations for record revenues by March.

Usio, Inc. (Nasdaq: USIO) announced that the City of Oakland Department of Transportation has selected its prepaid card technology for the Universal Basic Mobility Pilot. This program will provide up to $300 to participants in East Oakland for transit and shared mobility. CEO Louis Hoch emphasized Usio's leadership in electronic payment solutions for guaranteed income programs, while Oakland officials praised the company's responsiveness to their needs. This development showcases Usio’s commitment to expanding access to affordable transportation.

Usio, Inc. (USIO) has extended its exclusive agreement with cryptocurrency platform Voyager Digital for another three years, originally initiated in 2018. This partnership allows Usio to provide Automated Clearing House (ACH) payment solutions and will also enhance the integration of Voyager's technology into Usio's card processing systems. As of now, Voyager serves over 1 million funded accounts, relying on Usio's NACHA-certified ACH platform to manage currency transactions. Both companies express optimism for future collaboration, especially regarding new offerings like a debit card linked to the stablecoin USDC.

Usio, Inc. (Nasdaq: USIO) has successfully closed a private placement of 142,857 shares of common stock at $7.00 each, yielding net proceeds of $1 million. The transaction, based on the five-day weighted average market price, was finalized on November 19. Proceeds will be utilized for working capital. CEO Louis Hoch expressed enthusiasm for Voyager Digital's strategic investment, which aligns with their exclusive agreements for ACH and debit issuance card services, enhancing Usio's growth prospects.

Usio, Inc. (Nasdaq: USIO) has entered a three-year exclusive agreement with Voyager Digital to manage and process their newly launched USD Coin (USDC)-based debit card, which offers up to 9% annual rewards. This collaboration supports Voyager's 2.7 million users, enhancing their ability to hold and spend cryptocurrency conveniently. The debit card allows users to earn rewards in cryptocurrency, providing an innovative payment solution. Usio's technology enables instant card issuance, allowing for immediate deployment into digital wallets, thereby enhancing user experience.

Usio, Inc. (Nasdaq: USIO) announced key leadership changes, promoting Greg Carter to Executive Vice-President of Payment Acceptance and hiring Steve Peterson as Senior Vice President of Emerging Markets. Carter has successfully led the Payment Facilitation division, enhancing merchant relationships and increasing platform adoption. Peterson brings extensive industry experience and will focus on developing new markets and enterprise-level card programs. These strategic moves aim to position Usio for continued growth within the FinTech payment solutions sector.

Usio, Inc. (Nasdaq: USIO) will participate in the Ladenburg Thalmann Virtual Technology Expo on November 18, 2021, at 11:30AM ET. Key executives, including CEO Louis Hoch and SVP Greg Carter, will engage in one-on-one meetings with investors during the event. The presentation will also be available on the Usio website. Founded in San Antonio, Usio is a FinTech provider offering diverse payment solutions, including credit, debit, ACH processing, and electronic bill presentment, following the acquisition of IMS assets in December 2020.

Usio reported a 94% revenue growth in Q3 2021, achieving $15.8 million, driven by increased credit card transactions and prepaid card loads, which set new records. The company has now marked its fifth consecutive quarter of sequential revenue growth and anticipates annual revenues exceeding $60 million, an 88% increase from 2020. Usio also showed consistent profitability with positive net income and adjusted EBITDA.

Despite rising operational expenses, cash reserves reached $5.9 million, signaling a strong financial condition.

Usio, a provider of integrated electronic payment solutions, has announced it will release its third quarter financial results for the period ending September 30, 2021, on November 10, 2021, after market close. A conference call to discuss results and provide a business update will be held on November 11, 2021, at 11:00 a.m. Eastern Time. Interested parties can join via phone or listen to a live webcast on Usio's website. A replay of the call will be available post-event until November 25, 2021.