TSX: VOYG
OTCQB: VYGVF
Borse Frankfurt: UCD2
Preliminary revenues for the calendar year
ended December 31, 2021 are expected
to exceed USD$415 million
NEW YORK, Jan. 5, 2022 /CNW/ - Voyager Digital Ltd.
("Voyager" or the "Company") (TSX: VOYG) (OTCQB: 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 second quarter ended December 31,
2021 and is pleased to provide commentary on the Company's
calendar 2022 growth plans.
"Voyager had outstanding growth in the quarter ended
December 31, 2021, with preliminary
revenue anticipated to be approximately $165
million, up from $3.6 million
for quarter ended December 31, 2020,
and with funded accounts surpassing one million, up from just
43,000 at the beginning of the year. We remain focused on
positioning our platform as one of the leading players in digital
assets for consumers and expect continued customer growth in 2022,"
said Steve Ehrlich, Voyager's CEO
and Co-founder. "In 2021, we scaled our technology to
accommodate rapid growth as mainstream crypto adoption accelerated.
Now, with our platform and technological capabilities enhanced,
2022 marks the next phase of
Voyager's growth through product and geographic expansion,
alongside marketing efforts to reach new customers."
The Company is pleased to announce the following Financial and
Operational Key Metrics for fiscal 2022 second quarter ended
December 31, 2021:
- Preliminary total revenue for the fiscal 2022 second quarter
ended December 31, 2021 is estimated
at $165 million, compared to
$81.5 million for the fiscal 2022
first quarter ended September 30,
2021 and $3.6 million for
fiscal 2021 second quarter ended December
31, 2020.
- Preliminary total revenue for the calendar year 2021 is
estimated to exceed $415 million vs
$6.6 million for the calendar year
2020. This includes preliminary estimated revenue from merchant
services of $29 million.
- Preliminary revenue from merchant services, which is included
in total revenue, is estimated to be $15
million for the fiscal 2022 second quarter ended
December 31, 2021 vs $14 million for the fiscal 2022 first quarter
ended September 30, 2021.
- Total Verified Users grew to 3.2 million as of December 31, 2021, up from 2.15 million on
September 30, 2021 and 159,000 on
December 31, 2020.
- Total Funded Accounts grew to 1.075 million as of December 31, 2021, up from 860,000 on
September 30, 2021 and 43,000 on
December 31, 2020.
- Net new deposits for the fiscal 2022 second quarter ended
December 31, 2021 were approximately
$ 1.04 billion, compared to the
$ 827million for the fiscal 2022
first quarter ended September 30,
2021.
|
Dec 31,
2021
|
Sept 30,
2021
|
Dec 31,
2020
|
|
Revenues
(millions)
|
$165(1)
|
$81.5(2)
|
$3.6
|
|
Total Funded
Accounts(in thousands)
|
1,075
|
860
|
43
|
|
Total Verified Users
(in thousands)
|
3,231
|
2,150
|
159
|
|
Net New Deposits
(millions)
|
$1,037
|
$827
|
$79
|
- (1) preliminary, non-reviewed and unaudited and subject to
final adjustment
(2) unaudited
- All amounts are in U.S. dollars, unless otherwise
indicated.
Steve Ehrlich continued, "We've
rapidly grown our employee base by more than 7x, from 35 employees
at January 1, 2021 to over 250 at the
end of 2021. We expect to continue to grow our team in 2022
as we expand into NFT's, the Metaverse, and our own custody
solution. Also, we look forward to beginning our rollout in
Europe and Canada, launching our debit card, and adding
credit products and equity trading. Further, Voyager will continue
to build out our payment processing capabilities as we add merchant
payment systems to our already established payment system. As we
look ahead, we remain committed to driving sustainable long-term
customer growth and executing on our strategic priorities, and will
accelerate our growth through M&A when appropriate."
Voyager will be announcing the results of its fiscal 2022 second
quarter ending December 31st on or
about February 14th. Voyager will
also be participating in Eight Capital's innoVIII: Riding the
Digital Rails Virtual Conference on January
26th.
For more information about investor events that Voyager will be
participating in, please visit
www.investvoyager.com/investorrelations/events.
All amounts are in US Dollars unless otherwise indicated.
About Voyager Digital Ltd.
Publicly traded Voyager
Digital Ltd.'s (TSX: VOYG) (OTCQB: VYGVF) (FRA: UCD2) US
subsidiary, Voyager Digital, LLC, is a fast-growing, 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 70
different crypto assets using its easy-to-use mobile application
and earn rewards up to 12 percent annually on more than 35
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.
Financial Disclaimer:
The preliminary estimated
financial results and other data for the three and six months ended
December 31, 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
LLP, 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
December 31, 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 and six
months ended December 31, 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 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 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,
except as required by law. 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.
The TSX has not approved or disapproved of the information
contained herein.
SOURCE Voyager Digital, Ltd.
Press Contacts
Voyager Digital, Ltd.
Michael
Legg
Chief Communications Officer
(212) 547-8807
mlegg@investvoyager.com
Voyager Public Relations Team
pr@investvoyager.
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SOURCE Voyager Digital (Canada)
Ltd.
