Monday, July 19, 2021

Voyager Digital Ltd. (VYGVF)(VYGR:CA)
Record Preliminary 4Q21 Revenue

Voyager Digital Ltd through its subsidiary, operates as a crypto asset broker that provides retail and institutional investors with a turnkey solution to trade crypto assets. The company offers investors execution, data, wallet and custody services through its institutional-grade open architecture platform.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Preliminary Results. Voyager announced preliminary results for the fourth quarter ended June 30, 2021. Revenue is expected to be a record $103-$107 million, up 65% from $60.4 million in the fiscal third quarter. We had forecast $90 million of revenue for the quarter. Notably, basis points per net trade continued to exceed 100 basis points in the quarter, suggesting alt coin trading continued at a brisk pace.

Metrics Continued Positive.  During the quarter, Voyager's funded accounts grew 145% sequentially to over 665,000 while total verified users on the platform rose 75% to 1.75 million. With increased marketing efforts and the implementation of other programs, such as the Voyager Loyalty Program in September, we expect to see continued growth in both funded accounts and verified users ...

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary.  Proper due diligence is required before making any investment decision.