Voyager Digital stock jumps after preliminary Q4 revenue climbs 65%

Jul. 16, 2021 12:23 PM ETVoyager Digital Ltd. (VYGVQ), VOYG:CABy: Max Gottlich, SA News Editor41 Comments

Financial technology concept. Fintech. Online banking. Foreign exchange. metamorworks/iStock via Getty Images

  • Voyager Digital (OTCQX:VYGVF) shares gain 6.2% after crypto-asset platform company said preliminary revenue for the quarter ended June 30 surged 65%.

  • Steve Ehrlich, CEO and co-founder of Voyager Digital, credits the growth to net new funded account growth, net asset flows, and consistent basis points on spread revenues.

  • Preliminary fiscal Q4 revenue is expected to be between $103M-107M; that's up from $60.4M in its fiscal Q3.

  • Total funded accounts increased 146% to 665K from the previous period.
  • Total verified users on the platform increased 75% to 1.75M from the previous quarter end.
  • Basis points per-trade continue to exceed 100bps for fiscal Q4.
  • Despite bitcoin (BTC-USD) underperforming by -11.4% in the last six months with decreasing volume, "we continue to advance our marketing efforts and move forward on a host of important initiatives, including the launch of our Voyager Loyalty Program set to kick-off in September and Voyager's payment processing capabilities," Ehrlich said.
  • Earlier this month, BTIG initiates Voyager Digital with a Buy rating, citing its differentiated offerings.
  • In May, Voyager Digital reports substantial growth in Q3.

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