DigitalX reports strong balance sheet as revenue soared 305% in second half of 2021
March 1, 2022 – DigitalX has just released solid half-year financial results, with revenue quadrupling as funds under management rose 73 per cent and a key acquisition started to pay dividends.
DigitalX (ASX:DCC) says it made $1.1 million in revenue in the six months to December 31, 305.5 per cent more than it did during the same period in 2020, with almost half of that coming from its funds under management division.
The company’s two digital asset funds brought in $520,982 during the half year, as funds under management grew to $33.59 million thanks to both rising prices and $3.57 million in inflows.
Overall DigitalX trimmed its loss for the period by 16.5 per cent to $847,362.
The company finished the year with $7.4 million cash at bank, plus another $60.3 million in digital assets, including $39.9 million in Bitcoin.
“Despite volatility in the digital asset markets in December 2021, the balance sheet remains strong heading into the second half of FY2022,” the company said.
Its two core products – Sell My Shares and Drawbridge, its regtech compliance software – are both well positioned as financial securities markets such as the ASX move to distributed ledger technology, DigitalX said.
‘Very pleasing’ results
“The half-yearly result is very pleasing from the company’s perspective,” said Lisa Wade, the company’s new chief executive.
“Revenues across the funds management and product development divisions were relatively even; we expect to be able to reduce our one-off costs in 2022; and importantly we have now established the foundations of our business moving forward.”
“I am particularly happy with our inaugural sustainability report and fresh ESG focus and am looking forward to sustainability being an ongoing focus – in terms of not only the delivery of shareholder returns (but) also on the impact of the value we create.”
Wade joined DigitalX just recently, the company having poached her from NAB shortly before Christmas.
This article was developed in collaboration with DigitalX at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
************************
Disclaimer All transaction are carrying out by SiLLC, a private portfolio management assembly. This document is not an offer of securities for sale or investment advisory services. This document contains general information only and is not intended to represent general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed. Certain statements and forecasted data are based on current expectations, current market and economic conditions, estimates, projections, opinions and beliefs of SiLLC and/or its members. Due to various risks and uncertainties, actual results may differ materially from those reflected or contemplated in such forward-looking statements or in any of the case studies or forecasts. All references to SiLLC’s advisory activities relates to SiLLC Assembly International.
VOYAGER DIGITAL REPORTS REVENUE OF US$164.8 MILLION FOR THE QUARTER ENDED DECEMBER 31, 2021
NEW YORK, Feb. 15, 2022–Voyager Digital Ltd. (“Voyager” or the “Company”) (TSX: VOYG) (OTCQX: VYGVF) (FRA: UCD2) one of the fastest-growing, publicly traded cryptocurrency platforms in the United States, today announced revenue and user metrics for the Fiscal 2022 Second Quarter ended December 31, 2021.
“I am excited to report our best quarter ever, doubling our revenue from the previous quarter, and highlighting Voyager’s positioning and revenue opportunity in active markets,” said Steve Ehrlich, CEO and Co-founder of Voyager. Ehrlich continued, “More importantly, we delivered significant revenue growth and supported a marked increase in customer activity without any material system issues during the quarter, highlighting the steps we’ve taken to build out the scale and security of the Voyager platform in 2021, as we position Voyager for a series of product roll outs in calendar 2022.
“We are a product delivery organization and are taking the necessary steps to continue our revenue diversification strategy,” continued Mr. Ehrlich. “The launch of our Voyager Debit Card, which allows for payroll direct deposits, is the next step in revenue diversification. We recently added engineering resources to our team which allowed us to add more tokens to the trading platform, and tokens available for staking. By the end of the March quarter, we expect our desktop platform and dark mode will be added to our product offering. We are also building towards adding equities to the platform, expanding the platform to Europe and Canada, and offering an NFT product and wallet. All of these are significant opportunities for the Company; and with our NFT platform we intend to make the viewing, acquiring and custody of NFTs easy for consumers.”
The Company is pleased to announce the following Fiscal 2022 Second Quarter ended December 31, 2021 Financial and Operational Key Metrics:
Revenue for the quarter is $164.8 million with $149.0 million for the historical business and $15.8 million from the Coinify merchant business. The $164.8 million in revenue is up over 4400% compared to $3.5 million for the quarter ended December 31, 2020.
Revenue for the calendar year ended December 31, 2021 is $415.8 million vs $6.6 million for the calendar year ended December 31, 2020.
Adjusted EBITDA is $17.4 million for the quarter vs $2.8 million for the quarter ended December 31, 2020.
Operating Income is $3.2 million for the quarter vs a loss of $2.9 million for the quarter ended December 31, 2020.
Total verified users on the platform stand at more than 3.2 million, up 49% from 2.15 million at the quarter ended September 30, 2021.
Total funded accounts exceed 1,074,000 as of December 31, 2021, up 25% from 860,000 at the quarter ended September 30, 2021.
Total Assets on Platform grew to $5.9 billion from $4.3 billion at September 30, 2021.
Our headcount increased to 250 as of December 31, 2021, from 231 at September 30, 2021.
All figures are preliminary and unaudited and subject to final adjustment. All amounts are in U.S. dollars, unless otherwise indicated.
“I am truly excited about where we are and where we are going. Voyager’s business continues to grow every day and the company is well positioned as a pioneer in the digital asset space,” Ehrlich added.
Conference Call Details Voyager will discuss its Fiscal 2022 Second Quarter results today, February 15, 2022, via a conference call at 8:00 a.m. Eastern Time. To access the webcast, please register by clicking here. A live webcast and a replay will be available on the Investor Relations section of the Company’s website at https://www.investvoyager.com/investorrelations/overview.
About Voyager Digital Ltd. Publicly traded Voyager Digital Ltd.’s (TSX: VOYG) (OTCQX: VYGVF) (FRA: UCD2) US subsidiary, Voyager Digital, LLC, is a fast-growing, cryptocurrency platform in the United States founded in 2018 to bring choice, transparency, and cost efficiency to the marketplace. Voyager offers a secure way to trade over 85 different cryptocurrency assets using its easy-to-use mobile application and earn rewards up to 12% annually on more than 35 cryptocurrencies. Through its subsidiary Coinify ApS, Voyager provides cryptocurrency payment solutions for both consumers and merchants around the globe. To learn more about the company, please visit https://www.investvoyager.com.
The TSX has not approved or disapproved of the information contained herein.
Forward Looking Statements
Certain information in this press release, including, but not limited to, statements regarding future growth and performance of the business, momentum in the businesses, future adoption of digital assets, and the Company’s 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 known and unknown risks, uncertainties and other 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. Moreover, 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 any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties, and assumptions, the future events and trends discussed in this press release may not occur and actual results could 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 businesses and investments do not perform as anticipated, that revenue or expenses estimates may not be met or may be materially less or more than those anticipated, that trading momentum does not continue or the demand for trading solutions declines, customer acquisition does not increase as planned, product and international expansion do not occur as planned, risks of compliance with laws and regulations that currently apply or become applicable to the business or the interpretation or application of laws and regulations by regulatory authorities, and those other risks contained in the Company’s public filings, including in its Management Discussion and Analysis and its Annual Information Form (AIF). Factors that could cause actual results of the Company and its businesses to differ materially from those described in such forward-looking statements include, but are not limited to, a decline in the digital asset market or general economic conditions; changes in laws or approaches to regulation, regulatory investigations, enforcement actions or other regulatory action or sanction, the failure or delay in the adoption of digital assets and the blockchain ecosystem by institutions; changes in the volatility of crypto currency, changes in demand for Bitcoin and Ethereum, changes in the status or classification of cryptocurrency assets, cybersecurity breaches, a delay or failure in developing infrastructure for the trading businesses or achieving mandates and gaining traction; failure to grow assets under management, an adverse development with respect to an issuer or party to the transaction or failure to obtain a required regulatory approval. In connection with the forward-looking statements contained in this press release, the Company has made assumptions that no significant events occur outside of the Company’s normal course of business and that current trends in respect of digital assets continue. Readers are cautioned that the key metrics disclosed in this press release, including, without limitation, Assets Under Management and trading volumes fluctuate and may increase and decrease from time to time and that such fluctuations are beyond the Company’s control. Forward-looking statements, past and present performance and trends are not guarantees of future performance, accordingly, you should not put undue reliance on forward-looking statements, current or past performance, or current or past trends. Information identifying assumptions, risks, and uncertainties relating to the Company are contained in its filings with the Canadian securities regulators available atwww.sedar.com. The forward-looking statements in this press release are applicable only as of the date of this release or as of the date specified in the relevant forward-looking statement and the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after that date or to reflect the occurrence of unanticipated events. The Company assumes no obligation to provide operational updates, except as required by law. If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements, unless required by law. Readers are cautioned that past performance is not indicative of future performance and current trends in the business and demand for digital assets may not continue and readers should not put undue reliance on past performance and current trends. Refer to definition of certain Non-IFRS terms in Management’s Discussion and Analysis including Assets On Platform, Adjusted EBITDA and Adjusted Working Capital. All figures are in U.S. dollars unless otherwise noted.
Press Contacts
Voyager Digital, Ltd.
Michael Legg Chief Communications Officer (212) 547-8807
Voyager Public Relations Team
Voyager Digital Ltd. Interim Condensed Consolidated Statements of Financial Position (Unaudited) (USD, in thousands)
December 31, 2021
June 30, 2021
Assets
Current assets
Cash and cash equivalents
$
143,445
$
193,933
Cash held for customers
80,496
162,852
Crypto assets held ($966.3 million and $0.0 million restricted, respectively)
2,995,759
2,286,399
Crypto assets loaned
2,702,749
393,561
Crypto assets collateral received
181,629
–
Investments
–
31,359
Other current assets
14,943
5,839
Total current assets
6,119,021
3,073,943
Goodwill and intangible assets
80,958
559
Other non-current assets
17,538
2,860
Total assets
$
6,217,517
$
3,077,362
Liabilities
Current liabilities
Crypto assets and fiat payable to customers
$
5,676,023
$
2,807,015
Crypto assets collateral payable
181,629
–
Crypto assets borrowed
–
36,832
Warrant liability
16,083
23,810
Other current liabilities
20,515
22,644
Total current liabilities
5,894,250
2,890,301
Other non-current liabilities
9,507
739
Total liabilities
5,903,757
2,891,040
Equity
Share capital
407,720
261,908
Share-based payments reserve
25,592
15,125
Warrant reserve
1,144
3,457
Other comprehensive loss
(199)
–
Retained deficit
(120,497)
(94,168)
Total equity
313,760
186,322
Total liabilities and equity
$
6,217,517
$
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 December 31,
Six Months Ended December 31,
2021
2020
2021
2020
Revenues
Transaction revenue
$
86,502
$
2,056
$
130,016
$
3,682
Merchant services
15,844
–
29,801
–
Fees from crypto assets loaned
36,239
1,513
49,867
1,888
Staking revenue
20,722
–
28,429
–
Other revenue
5,541
–
8,242
–
Total revenues
164,848
3,569
246,355
5,570
Operating expenses
Rewards paid to customers
73,034
1,540
122,693
1,540
Marketing and sales
35,057
1,021
51,715
1,353
Cost of merchant services
15,497
–
29,205
–
Share-based payments
3,962
354
9,120
1,379
Compensation and employee benefits
8,793
1,058
14,619
2,082
Total compensation and employee benefits
12,755
1,412
23,739
3,461
Trade expenses
7,358
160
11,161
343
Customer onboarding and service
3,065
–
5,654
–
Professional and consulting
7,522
725
14,338
1,092
General and administrative
7,345
1,619
12,960
3,373
Total operating expenses
161,633
6,477
271,465
11,162
Income/ (loss) before other income/ (loss)
3,215
(2,908)
(25,110)
(5,592)
Other income/ (loss)
Change in fair value of crypto assets held
8,596
5,265
(7,044)
5,487
Change in fair value of investments
1,864
10,593
6,114
10,593
Change in fair value of crypto assets borrowed
(4,426)
(6,252)
(13,584)
(6,252)
Change in fair value of warrant liability
(3,627)
(15,589)
6,844
(17,102)
Fees on crypto assets borrowed
(1,390)
(106)
(2,532)
(106)
Total other income/ (loss)
1,017
(6,089)
(10,202)
(7,380)
Net income/ (loss) before provision/ (benefit) for income tax
4,232
(8,997)
(35,312)
(12,972)
Provision (benefit) for income tax
1,644
–
(8,983)
–
Net income/ (loss)
2,588
(8,997)
(26,329)
(12,972)
Other comprehensive income/ (loss)
Foreign currency translation adjustment
(67)
–
(199)
–
Total comprehensive income/ (loss)
$
2,521
$
(8,997)
$
(26,528)
$
(12,972)
Earnings per share
Basic
$
0.02
$
(0.07)
$
(0.16)
$
(0.11)
Diluted
$
0.01
$
(0.07)
$
(0.16)
$
(0.11)
SOURCE Voyager Digital (Canada) Ltd.
************************
Disclaimer All transaction are carrying out by SiLLC, a private portfolio management assembly. This document is not an offer of securities for sale or investment advisory services. This document contains general information only and is not intended to represent general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed. Certain statements and forecasted data are based on current expectations, current market and economic conditions, estimates, projections, opinions and beliefs of SiLLC and/or its members. Due to various risks and uncertainties, actual results may differ materially from those reflected or contemplated in such forward-looking statements or in any of the case studies or forecasts. All references to SiLLC’s advisory activities relates to SiLLC Assembly International.
Voyager Digital Announces Record Quarterly Revenue with Growth of Over 65% from the Previous Quarter
CSE: VYGR OTCQB: VYGVF Borse Frankfurt: UCD2
– Fiscal 4Q Revenues Expected to be Between $103 and $107 Million – – Funded Accounts Grow 146% From the Previous Quarter to Over 665,000 – – Verified Users Grow 75% From the Previous Quarter to Over 1.75 Million –
NEW YORK, July 15, 2021 – Voyager Digital Ltd. (“Voyager” or the “Company”) (CSE: VYGR) (OTCQB: VYGVF) (FRA: UCD2), is pleased to provide stakeholders with a business update for the Fiscal 4Q ended June 30, 2021.
The Company has the following key metrics as of June 30, 2021:
Preliminary Fiscal 4Q Revenue expected to be between $103 and $107 million
Total Funded Accounts exceed 665,000, up 146% from the previous quarter end
Total Verified Users on the platform more than 1.75 million, up 75% from the previous quarter end
Basis points per-trade continue to exceed 100 basis points for the Fiscal 4Q
All figures are preliminary and unaudited and subject to final adjustment. All amounts are in U.S. dollars, unless otherwise indicated.
“Our June quarter reflects continued growth of our platform, with revenues up more than 65% from the March Quarter. Although we have seen a significant decrease in crypto market volume since mid-June we continue to see significant net new funded account growth, net asset inflows, and consistent basis points on spread revenues on our platform continue through today.” said Steve Ehrlich, CEO and Co-founder. “We continue to advance our marketing efforts and move forward on a host of important initiatives, including the launch of our Voyager Loyalty Program (VLP) program set to kick-off in September and Voyager’s payment processing capabilities.”
Additionally, pursuant to its previously announced Normal Course Issuer Bid Voyager repurchased 247,500 shares in the open market under the Company’s share buyback program and have since cancelled these shares and made the appropriate filings with the relevant regulatory bodies in Canada.
About Voyager Digital Ltd.
Voyager Digital Ltd. is a publicly traded holding company whose subsidiaries operate a crypto-asset platform that provides retail and institutional investors with a turnkey solution to trade crypto assets. The Voyager Platform provides its customers with competitive price execution through its smart order router and as well as a custody solution on a wide choice of popular crypto-assets. Voyager was founded by established Wall Street and Silicon Valley entrepreneurs who teamed to bring a better, more transparent, and cost-efficient alternative for trading crypto-assets to 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 either approved or disapproved of the contents of this press release.
Forward Looking Statements
Certain information in this press release, including, but not limited to, statements regarding future growth and performance of the business, momentum in the businesses, future adoption of digital assets, and the Company’s 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 known and unknown risks, uncertainties and other 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. Moreover, 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 any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties, and assumptions, the future events and trends discussed in this press release may not occur and actual results could 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 businesses and investments do not perform as anticipated, that revenue or expenses estimates may not be met or may be materially less or more than those anticipated, that trading momentum does not continue or the demand for trading solutions declines, customer acquisition does not increase as planned, product and international expansion do not occur as planned, risks of compliance with laws and regulations that currently apply or become applicable to the business and those other risks contained in the Company’s public filings, including in its Management Discussion and Analysis and its Annual Information Form (AIF). Factors that could cause actual results of the Company and its businesses to differ materially from those described in such forward-looking statements include, but are not limited to, a decline in the digital asset market or general economic conditions; changes in laws or approaches to regulation, the failure or delay in the adoption of digital assets and the blockchain ecosystem by institutions; changes in the volatility of crypto currency, changes in demand for Bitcoin and Ethereum, changes in the status or classification of cryptocurrency assets, cybersecurity breaches, a delay or failure in developing infrastructure for the trading businesses or achieving mandates and gaining traction; failure to grow assets under management, an adverse development with respect to an issuer or party to the transaction or failure to obtain a required regulatory approval. In connection with the forward-looking statements contained in this press release, the Company has made assumptions that no significant events occur outside of the Company’s normal course of business and that current trends in respect of digital assets continue. Readers are cautioned that Assets Under Management and trading volumes fluctuate and may increase and decrease from time to time and that such fluctuations are beyond the Company’s control. Forward-looking statements, past and present performance and trends are not guarantees of future performance, accordingly, you should not put undue reliance on forward-looking statements, current or past performance, or current or past trends. Information identifying assumptions, risks, and uncertainties relating to the Company are contained in its filings with the Canadian securities regulators available atwww.sedar.com. The forward-looking statements in this press release are applicable only as of the date of this release or as of the date specified in the relevant forward-looking statement and the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after that date or to reflect the occurrence of unanticipated events. The Company assumes no obligation to provide operational updates, except as required by law. If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements, unless required by law. Readers are cautioned that past performance is not indicative of future performance and current trends in the business and demand for digital assets may not continue and readers should not put undue reliance on past performance and current trends. All figures are in U.S. dollars unless otherwise noted.
SOURCE Voyager Digital (Canada) Ltd.
For further information: Voyager Digital Ltd. Contacts: Michael Legg, Chief Communications Officer, (212) 547-8807, ; Stephanie Chen, (917) 727-4802, ; Kevin Rodriguez, (201) 785-7149,
************************
Disclaimer All transaction are carrying out by SiLLC, a private portfolio management assembly. This document is not an offer of securities for sale or investment advisory services. This document contains general information only and is not intended to represent general or specific investment advice. Past performance is not a reliable indicator of future results and targets are not guaranteed. Certain statements and forecasted data are based on current expectations, current market and economic conditions, estimates, projections, opinions and beliefs of SiLLC and/or its members. Due to various risks and uncertainties, actual results may differ materially from those reflected or contemplated in such forward-looking statements or in any of the case studies or forecasts. All references to SiLLC’s advisory activities relates to SiLLC Assembly International.
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.