Voyager Digital 2022 Q3 Fiscal Earnings & Losses List With Assets, Liability & Equity Breakdown

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This week Voyager digital, which describes itself as one of the fastest-growing publicly traded cryptocurrency platforms in the United States, has released its 2022 third-quarter fiscal earnings and losses. The list contains a breakdown of their assets, liability, and equity as it stands and is vital information for investors and those interested in crypto in general.

Words from the CEO

“We performed strongly amidst the challenging macroeconomic and lower trading volumes seen across our industry,” said Steve Ehrlich, CEO and Co-founder of Voyager. “Despite market conditions, we continued to deliver customer account and net deposit growth, while continuing to build upon our revenue diversification strategy.”

“With the announcement of the private placement of approximately USD$60 million, the Company has over $225 million of net liquidity, comprised of over $175 million in cash, and approximately $50 million in crypto. With the recent changes to our rewards model and actively addressing our cost structure to ensure efficient use of capital, we are working toward a goal of returning to positive operating income, after adding back stock-based compensation, in early calendar 2023. Ehrlich continued, “Additionally, in the quarter we successfully launched our extremely popular moon mode and onboarded customers to the beta programs for both our debit card and desktop app. The debit card is on target and expected to be deployed to the remainder of the waitlist throughout the quarter and the desktop app is set to be expanded to a wide group of customers.”

Voyager Digital Third Quarter Financial & Operational Metrics

The Company announces the following for the fiscal 2022 third quarter ended March 31, 2022, Financial and Operational Key Metrics:

  • Revenue for the quarter is $102.7 million, up 70% compared to $60.4 million for the quarter ended March 31, 2021.
  • Operating loss is $43.0 million for the quarter vs an income of $29.8 million for the quarter ended March 31, 2021. Operating loss/income includes stock-based compensation of $5.4 million for the quarter vs $5.3 million for the quarter ended March 31, 2021, respectively.
  • Total verified users on the platform stand at 3.5 million, up 9% from 3.2 million at the quarter ended December 31, 2021.
  • Total funded accounts reached 1,190,000 as of March 31, 2022, up 11% from 1,074,000 at the quarter ended December 31, 2021.
  • Total Assets on Platform decreased to $5.8 billion from $6.0 billion at December 31, 2021.
  • Our headcount increased to 318 as of March 31, 2022, from 250 at December 31, 2021.

All figures are preliminary and unaudited and subject to final adjustment. All amounts are in U.S. dollars unless otherwise indicated.

The company is also pleased to announce Ashwin Prithipaul as Chief Financial Officer. He comes to Voyager with deep financial leadership experience, including as the former CFO of Galaxy Digital. In conjunction with this, Evan Psaropoulos is moving into a new role as Chief Commercial Officer to build out the Company’s revenue diversification as well as partner with the new CFO in creating cost efficiencies.

“In closing, we strongly believe we are in the early stages of global crypto adoption. Voyager remains very well capitalized to strategically grow our business and serve consumers amidst a rapidly evolving crypto landscape,” Ehrlich added.

Voyager Digital 2022 Q3 Fiscal Earnings/Revenue & Losses List

Voyager Digital Ltd.
Interim Condensed Consolidated Statements of Financial Position (Unaudited)
(USD, in thousands)

March 31, 2022June 30, 2021
Current assets
Cash and cash equivalents$ 99,406$ 193,933
Cash held for customers112,413162,852
Crypto assets held ($895.7 million and $0.0 million restricted, respectively)3,433,1422,286,399
Crypto assets loaned2,022,444393,561
Crypto assets collateral received227,339
Other current assets16,1115,839
Total current assets5,910,8553,073,943
Goodwill and intangible assets79,334559
Other non-current assets8,6952,860
Total assets$ 5,998,884$ 3,077,362
Current liabilities
Crypto assets and fiat payable to customers$ 5,482,009$ 2,807,015
Crypto assets collateral payable227,339
Crypto assets borrowed36,832
Warrant liability6,10223,810
Other current liabilities16,15522,644
Total current liabilities5,731,6052,890,301
Other non-current liabilities9,496739
Total liabilities5,741,1012,891,040
Share capital408,353261,908
Share-based payments reserve30,57015,125
Warrant reserve1,1443,457
Other comprehensive loss(347)
Accumulated deficit(181,937)(94,168)
Total equity257,783186,322
Total liabilities and equity$ 5,998,884$ 3,077,362

Voyager Digital Ltd.
Interim Condensed Consolidated Statements of Comprehensive Income/ (Loss) (Unaudited)
(USD, in thousands except for shares data)

Three Months Ended March 31,Nine Months Ended March 31,
Transaction revenue$ 33,386$ 53,736$ 163,402$ 57,418
Fees from crypto assets loaned31,0256,70280,8928,590
Merchant services18,34748,148
Staking revenue14,35942,788
Other revenue5,62613,868
Total revenues102,74360,438349,09866,008
Operating expenses
Rewards paid to customers59,3217,409182,0148,949
Marketing and sales30,3678,93582,08210,288
Cost of merchant services17,97947,184
Share-based payments5,3865,27114,5066,650
Compensation and employee benefits12,3652,47626,9844,558
Total compensation and employee benefits17,7517,74741,49011,208
Trade expenses2,98472614,1451,069
Customer onboarding and service3,5252,6779,1792,677
Professional and consulting6,0331,14120,3712,233
General and administrative7,7431,95720,7035,327
Total operating expenses145,70330,592417,16841,751
Income/ (loss) before other income/ (loss)(42,960)29,846(68,070)24,257
Other income/ (loss)
Change in fair value of crypto assets held(17,516)12,953(24,560)18,440
Change in fair value of investments18,9776,11429,570
Change in fair value of crypto assets borrowed(30,030)(13,584)(36,282)
Change in fair value of warrant liability9,981(98,990)16,825(116,092)
Fees on crypto assets borrowed(1,319)(2,532)(1,428)
Total other income/ (loss)(7,535)(98,409)(17,737)(105,792)
Net income/ (loss) before provision/ (benefit) for
income tax
Provision (benefit) for income tax10,9451,962
Net income/ (loss)(61,440)(68,563)(87,769)(81,535)
Other comprehensive income/ (loss)
Foreign currency translation adjustment(148)(14)(347)(14)
Total comprehensive income/ (loss)$ (61,588)$ (68,577)$ (88,116)$ (81,549)
Earnings per share
Basic$ (0.36)$ (0.49)$ (0.53)$ (0.66)
Diluted$ (0.36)$ (0.49)$ (0.53)$ (0.66)

The above indicates a relatively normal position for the company as the industry is currently in a downward trend so it’s hard to say what the future will bring for the company at this point. To find out why voyagers stock is dropping recently and decide for yourself if it’s a good time to invest, read more here: //

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