Voyager Digital Reports Record Revenue of US $ 60 Million with 50% Operating Margin Generating Operating Profit of $ 30 Million for Fiscal Third Quarter
Borse Frankfurt: UCD2
– The company continues to experience accelerated growth in April and May –
– Verified users currently exceed 1.6 million –
NEW YORK, May 25, 2021 / PRNewswire / – Voyager Digital Ltd. (“Voyager” or the “Company”) (CSE: VYGR) (OTCQB: VYGVF) (FRA: UCD2), today announced financial results for its third quarter of fiscal 2021, which ended March 31, 2021.
Voyager reported another record quarter, with momentum continuing into the fiscal fourth quarter to date.
Total revenue for the third quarter of fiscal 2021 increased to US $ 60.4 million, more than 16x compared to 3.6 million US dollars in the second quarter of fiscal 2021.
Operating profit from US $ 30 million for the third fiscal quarter, with an operating margin of 50% – the first quarter of the company’s operating profit.
The company ended the third quarter of fiscal 2021 with an adjusted working capital of US $ 197 million.
US $ 5 billion of the volume of principal traded for the third quarter of fiscal year 2021, compared to US $ 350 million the value of the principal traded during the second quarter of the fiscal year.
May’s new funded accounts have already greatly exceeded the whole of April, surpassing 1.6 million audited accounts to date.
Voyager announced another record period with strong third quarter results. This momentum has continued to this day through the fourth quarter of fiscal 2021, as we continue to see an acceleration in all of our metrics. keys, “said Steve ehrlich, CEO and co-founder of Voyager. “It is clear that Voyager’s strategy of becoming the most user-friendly, transparent and easy-to-use platform with top-notch offerings of altcoins and interest-earning assets has won significant market share. a long-term business model with third quarter operating margins increasing to 50%. Based on our success to date, we expect our operating margin to continue to evolve in the periods futures. “
During the third quarter of fiscal 2021, Voyager continued to make significant upgrades to its systems infrastructure and staff with a focus on platform security, scalability and Customer Support. Since the end of the calendar year, the company has increased its workforce by approximately 4x to support these initiatives and the rapid growth of Voyager.
Mr. Ehrlich continued, “During the March quarter, we saw an exponential adoption of cryptocurrencies as a recognized and investable asset class, which has translated into significant growth for Voyager. The US market continues to outperform given our compelling and competitive differentiation. We are committed to continuing our strong execution, while expanding our international reach. Our team is extremely proud of what we have accomplished to date. “
For more information, the company encourages investors to read its interim financial statements and related MD&A (“MD&A”) for the three and nine months ended. March 31, 2021, which will be filed with SEDAR today.
The Company will hold a conference call today at 5:00 p.m. (Eastern Time) review the results and provide an overview of recent milestones and the company’s growth strategy. A live webcast of the conference call can be viewed here: webcast link.
About Voyager Digital Ltd.
Voyager Digital Ltd. is a publicly traded holding company whose subsidiaries operate a crypto asset platform that provides retail investors with a seamless solution to trade crypto assets. The Voyager platform offers its clients competitive price execution through its intelligent order router and custody solution on a wide selection of popular crypto assets. Voyager was founded by well-established entrepreneurs from Wall Street and Silicon Valley who have teamed up to provide a better, more transparent, and more profitable alternative for trading cryptoassets in the marketplace. Please visit us at https://www.investvoyager.com for more information.
Neither the Canadian Securities Exchange nor its market regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. No securities regulatory authority has approved or disapproved of the contents of this press release.
Certain information contained in this press release, including, but not limited to, statements regarding future growth and performance of the business, business dynamics, future adoption of digital assets and 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 risks, uncertainties and other known and unknown 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. In addition, 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 one factor, or combination of factors, may affect our business. so that the actual results differ materially from those contained in a futures contract. – statements we can make. In light of these risks, uncertainties and assumptions, future events and trends discussed in this press release may not occur and actual results may 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 business and investments may not perform as expected, that income or expense estimates are not met, or that they may be materially less than or greater than. those anticipated, that business momentum does not continue or demand for trading solutions decreases, client acquisition does not increase as expected, product and international expansion does not occur as expected, risks compliance with laws and regulations that currently apply or become applicable to the business and other risks contained in public documents filed by the company, including its management report and annual information form (annual information form). Factors that could cause the actual results of the Company and its operations to differ materially from those described in these forward-looking statements include, but are not limited to, a decline in the digital asset market or general economic conditions; changes in laws or regulatory approaches, failure or delay in the adoption of digital assets and the blockchain ecosystem by institutions; changes in the volatility of the cryptocurrency, changes in the demand for Bitcoin and Ethereum, changes in the status or classification of cryptocurrency assets, cybersecurity breaches, a delay or failure in the development of infrastructure for trading companies or the completion of mandates and ramp-up; failure to grow assets under management, adverse development with respect to an issuer or party to the transaction, or failure to obtain required regulatory approval. In connection with the forward-looking statements contained in this press release, the company has made assumptions that no material events are occurring outside the normal course of business of the company and that current trends in digital assets continue. . Readers are cautioned that assets under management and trading volumes fluctuate and may increase or decrease from time to time and that such fluctuations are beyond the control of the Company. Forward-looking statements, past and present performance, and trends are not guarantees of future performance, therefore, you should not place undue reliance on forward-looking statements, current or past performance, or current or past trends. Information identifying the assumptions, risks and uncertainties relating to the Company is contained in its documents filed with the Canadian Securities Administrators available at www.sedar.com. The forward-looking statements contained in this press release speak only as of the date of this press release or the date specified in the relevant forward-looking statement and the company does not undertake to update any forward-looking statements to reflect any events or circumstances. after that date or to reflect the occurrence of unforeseen events. The Company assumes no obligation to provide operational updates, except as required by law. If the Company updates one or more forward-looking statements, it should not be inferred that it will make additional updates with respect to these or other forward-looking statements, except as required by law. Readers are cautioned that past performance is not indicative of future performance and current business trends and that demand for digital assets may not continue and readers should not place undue reliance on past performance and to current trends. Adjusted working capital is defined as current assets less current liabilities, excluding warrant liabilities. All figures are in US dollars, unless otherwise noted.
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SOURCE Voyager Digital (Canada) Ltd.