Usio's revenues to be 'adversely impacted' by Voyager Digital's recent move

Usio Inc., a cloud-based fintech integrated payment solutions provider, is expecting its revenues to be "adversely impacted" by Voyager Digital Ltd. unit Voyager Digital LLC's temporary suspension of trading, deposits, withdrawals and loyalty rewards.

Usio anticipates continuing to process transactions as requested by Voyager, for which Usio provides payment processing services. However, Voyager's recent decision will affect the volume of Automated Clearing House, or ACH, transactions Usio processes for Voyager, unless Voyager resumes full operations, Usio CEO Louis Hoch said in a letter to shareholders.

"Voyager is independent from Usio and we can't predict when, or if, Voyager will resume operations in any capacity," the executive wrote.

Voyager represented 8% of Usio's full-year 2021 total revenue and 8% of Usio's revenues from Jan. 1 to May 31. Out of the revenue generated in 2022, 2% accounted for revenue from blank card orders for Voyager's prepaid card program, according to Hoch.

Through May 31, revenues from Voyager's prepaid card services amounted to about $670,000. Usio's fiscal 2022 guidance assumed $1 million in revenue from those services for the full year.

"[W]e expect the impact of a slowdown or end to this prepaid card program on our bottom line to be minimal," Hoch wrote, adding he believes Usio will have the ability to replace any possible revenue shortfall from the suspended Voyager processing expected in Usio's guidance.

Usio reiterated its fiscal 2022 revenue guidance but widened the range to 16% to 20% revenue growth year over year.