Voyager Digital Business Update for the Quarter Ended September 30, 2021 (Revised)
Voyager Digital Ltd. reported preliminary revenue and user metrics for Q1 fiscal 2022, ending September 30, 2021. The company noted total funded accounts exceeded 860,000, a 29% increase from June 30, 2021, and verified users grew to over 2.15 million, up 23%. However, preliminary revenue is estimated at $63 to $67 million, down from $109 million in the prior quarter. Net new deposits were approximately $827 million compared to $1.62 billion previously. The company aims to diversify revenue through staking rewards, projecting $40 to $50 million for the December quarter.
- Total funded accounts increased by 29% to over 860,000.
- Total verified users grew by 23% to more than 2.15 million.
- Company expects $40 to $50 million in staking rewards for December quarter.
- Preliminary revenue projected at $63 to $67 million, down from $109 million last quarter.
- Net new deposits decreased to approximately $827 million compared to $1.62 billion previously.
TSX: VOYG
OTCQX: VYGVF
Borse Frankfurt: UCD2
NEW YORK, Oct. 6, 2021 /PRNewswire/ - Voyager Digital Ltd. ("Voyager" or the "Company") (TSX: VOYG) (OTCQX: VYGVF) (FRA: UCD2) one of the fastest-growing, publicly traded cryptocurrency platforms in the United States, today announced preliminary revenue and user metrics for the fiscal 2022 first quarter ended September 30, 2021.
"As we exit September and reflect on the growth of our platform, we are glad to report that our Company is stronger than ever," said Stephen Ehrlich, CEO and Co-founder of Voyager. "Our marketing efforts are contributing to consistent user growth, and we've seen trading volume rebound following the general industry-wide downtrend witnessed in July. With international expansion and new products on the horizon, we're more excited than ever about Voyager's future and are positioned to operate within applicable regulatory frameworks."
"As we continue to grow our funded accounts, Voyager's transactional volume is contingent on market volume and the overall market volume decreased substantially in July and August. We have begun to diversify our revenue model to generate long term staking rewards providing recurring revenue. As we continue to develop staking capabilities, we expect that reward and yield revenue will generate a minimum of
The Company is pleased to announce the following fiscal 2022 first quarter ended September 30, 2021 Financial and Operational Key Metrics:
- Total funded accounts exceed 860,000, up
29% from 665,000 at fiscal year ended June 30, 2021 - Total verified users on the platform now stand at more than 2.15 million, up
23% from 1.75 million at fiscal year ended June 30, 2021 - Preliminary revenue for the quarter is estimated at
$63 – 67 million, compared to$109 million for the fiscal fourth quarter ended June 30, 3021 - Net new deposits were approximately
$827 million , compared to the$1,620 million for the fiscal fourth quarter ended June 30, 2021
Sept 30, 2021 | June 30, 2021 | Sept 30, 2020 | |
Revenues (millions) | |||
Total Funded Accounts | 860,000 | 665,000 | 23,400 |
Total Verified Users | 2,150,000 | 1,750,000 | 87,500 |
Net New Deposits (millions) |
(1) | preliminary and unaudited and subject to final adjustment. |
(2) | unaudited |
All amounts are in U.S. dollars, unless otherwise indicated.
About Voyager Digital Ltd.
Voyager Digital Ltd. (TSX: VOYG; OTCQX: VYGVF; FRA: UCD2) is a fast-growing, publicly traded cryptocurrency platform in the United States founded in 2018 to bring choice, transparency, and cost efficiency to the marketplace. Voyager offers a secure way to trade over 60 different crypto assets using its easy-to-use mobile application, and earn rewards up to 12 percent annually on more than 30 cryptocurrencies. Through its subsidiary Coinify ApS, Voyager provides crypto payment solutions for both consumers and merchants around the globe. To learn more about the company, please visit https://www.investvoyager.com.
The TSX has not approved or disapproved of the information contained herein.
Financial Disclaimer:
The preliminary estimated financial results and other data for the three months ended September 30, 2021 set forth above are subject to the completion of the Company's financial closing procedures. This data has been prepared by, and is the responsibility of, the Company's management and audit committee. Voyager's independent registered public accounting firm, Marcum LLC, does not express an opinion or any other form of assurance with respect thereto. The Company currently expects that its final results of operations and other data for the interim period ended September 30, 2021 will be consistent with the estimates set forth above, but such estimates are preliminary and Voyager's actual results of operations and other data could differ materially from these estimates due to the completion of its quarterly review procedures, final adjustments, and other developments that may arise between now and the time such unaudited consolidated financial statements for the three months ended September 30, 2021 are released.
Forward Looking Statements
Certain information in this press release, including, but not limited to, statements regarding future growth and performance of the business, momentum in the businesses, future adoption of digital assets, and the Company's anticipated results may constitute forward looking information (collectively, forward-looking statements), which can be identified by the use of terms such as "may," "will," "should," "expect," "anticipate," "project," "estimate," "intend," "continue" or "believe" (or the negatives) or other similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Voyager's actual results, performance or achievements to be materially different from any of its future results, performance or achievements expressed or implied by forward-looking statements. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties, and assumptions, the future events and trends discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Forward looking statements are subject to the risk that the global economy, industry, or the Company's businesses and investments do not perform as anticipated, that revenue or expenses estimates may not be met or may be materially less or more than those anticipated, that trading momentum does not continue or the demand for trading solutions declines, customer acquisition does not increase as planned, product and international expansion do not occur as planned, risks of compliance with laws and regulations that currently apply or become applicable to the business or the interpretation or application of laws and regulations by regulatory authorities, and those other risks contained in the Company's public filings, including in its Management Discussion and Analysis and its Annual Information Form (AIF). Factors that could cause actual results of the Company and its businesses to differ materially from those described in such forward-looking statements include, but are not limited to, a decline in the digital asset market or general economic conditions; changes in laws or approaches to regulation, the failure or delay in the adoption of digital assets and the blockchain ecosystem by institutions; changes in the volatility of crypto currency, changes in demand for Bitcoin and Ethereum, changes in the status or classification of cryptocurrency assets, cybersecurity breaches, a delay or failure in developing infrastructure for the trading businesses or achieving mandates and gaining traction; failure to grow assets under management, an adverse development with respect to an issuer or party to the transaction or failure to obtain a required regulatory approval. In connection with the forward-looking statements contained in this press release, the Company has made assumptions that no significant events occur outside of the Company's normal course of business and that current trends in respect of digital assets continue. Readers are cautioned that the key metrics disclosed in this press release, including, without limitation, Assets Under Management and trading volumes fluctuate and may increase and decrease from time to time and that such fluctuations are beyond the Company's control. Forward-looking statements, past and present performance and trends are not guarantees of future performance, accordingly, you should not put undue reliance on forward-looking statements, current or past performance, or current or past trends. Information identifying assumptions, risks, and uncertainties relating to the Company are contained in its filings with the Canadian securities regulators available at www.sedar.com. The forward-looking statements in this press release are applicable only as of the date of this release or as of the date specified in the relevant forward-looking statement and the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after that date or to reflect the occurrence of unanticipated events. The Company assumes no obligation to provide operational updates, except as required by law. If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements, unless required by law. Readers are cautioned that past performance is not indicative of future performance and current trends in the business and demand for digital assets may not continue and readers should not put undue reliance on past performance and current trends. All figures are in U.S. dollars unless otherwise noted.
Press Contacts
Voyager Digital, Ltd.
Michael Legg
Chief Communications Officer
(212) 547-8807
mlegg@investvoyager.com
Voyager Public Relations Team
pr@investvoyager.com
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SOURCE Voyager Digital (Canada) Ltd.
FAQ
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