Thursday, January 06, 2022
Voyager Digital (VYGVF)(VOYG:CA)
Preliminary 2Q22 Revenues Exceed Estimate
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.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Preliminary Revenues. Voyager announced preliminary revenues for the fiscal second quarter ended December 31st of $165 million, compared to $81.5 million in the fiscal first quarter, and $3.6 million a year ago. We had projected revenue of $141 million for the quarter. Merchant services revenue increased to $15 million in the quarter, compared to $14 million in the September quarter.
Key Metrics. Total verified users grew to 3.2 million at December 31st, up from 2.15 million on September 30th, while totaled funded accounts rose to 1.075 million from 860,000 over the same period. Total funded to total verified fell to .336 from .400. We expect a portion of this reflects the hugely successful Mavericks promotion. Net new deposits in the fiscal second quarter totaled $1.04 …
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.
