Usio, Inc. - USIO STOCK NEWS

Usio, Inc. (Nasdaq: USIO) has initiated an underwritten public offering of its common stock. The offering includes a 45-day option for underwriters to buy an additional 15% of the shares. Proceeds will be directed towards working capital, general corporate purposes, and growth investments. The offering is subject to market conditions and is under a shelf registration statement. Ladenburg Thalmann & Co. is the sole book-running manager for this offering.

Usio, Inc. (Nasdaq: USIO) announced that its prepaid card-issuing platform has been chosen by 4-CT and United Way of Central and Northeastern Connecticut for distributing COVID-19 relief funds. This selection highlights Usio’s capability in providing efficient financial solutions for charitable organizations. Over 2,300 individuals in Connecticut have received support through the 4-CT Card Program, which targets those excluded from federal aid. Usio's platform allows for quick distribution of funds without needing bank account details, ensuring immediate assistance to vulnerable communities.

Usio, Inc. (Nasdaq: USIO) and Mastercard (NYSE: MA) have strengthened their collaboration by integrating Usio's prepaid platform into Mastercard's City Possible™ network. Initially aimed at assisting Los Angeles residents impacted by the pandemic, this partnership has expanded to several major U.S. cities. Usio's prepaid card solutions facilitate immediate fund access without requiring bank accounts. Key features include cash access, reloadable cards, and the ability to send virtual cards via digital platforms, enhancing financial support for communities in need.

Usio, Inc. (Nasdaq: USIO) has appointed Ernesto Beyer to its Board of Directors as of August 29, 2020, following the passing of Miguel Chapa on August 19, 2020. Beyer brings over 25 years of experience in international trade and currently serves as Latin America Market Manager for Xcoal Energy & Resources. He has held significant roles in commercial relationships with major companies in Latin America and was a Plant Manager at Trinity Industries. This appointment restores Usio's compliance with Nasdaq's corporate governance rules.

Usio, Inc. (Nasdaq:USIO) announces the abrupt passing of Board member Miguel A. Chapa on August 19, 2020, prompting the company to seek a replacement to comply with Nasdaq regulations. Chapa contributed invaluable expertise in financial analysis and strategic planning since joining the Board in 2015. CEO Louis Hoch expressed deep sorrow over Chapa's loss, noting his inspirational role. Usio, headquartered in San Antonio, Texas, offers diverse electronic payment solutions to various clients, highlighting its unique skills in the prepaid sector.

Usio, Inc. (Nasdaq: USIO) reported its second quarter 2020 financial results, showing a 3% decline in revenues to $7.0 million, attributed to a weak ACH consumer lending market. However, Card Processing and Prepaid business revenues increased by 4% and 58% year-over-year, respectively. Gross profit fell by 18% to $1.3 million, while net loss remained stable at $1.3 million ($0.10/share). With $1.8 million in cash and a recent $3 million capital raise, Usio is positioned for growth as demand for payment solutions remains strong amid ongoing market challenges.

Usio, a leading integrated electronic payment solutions provider, is set to announce its second quarter financial results after market close on August 13, 2020. The results will cover the period ending June 30, 2020. Management will hold a conference call on August 14 at 11:00 a.m. Eastern time to discuss these results and provide a business update. Interested parties can participate by calling designated numbers or joining a live webcast on the company's website. A replay will be available until August 28, 2020.

Usio, Inc. (Nasdaq: USIO) reported significant growth in its prepaid business, with total funds loaded onto cards skyrocketing 690% year-over-year as of July 31, 2020. The company noted a 120% increase compared to June 2020 and a 390% increase from May 2020, driven by demand for government assistance card programs. Usio attributes its success to innovative technology and strong client relationships. More information will be shared in the upcoming Second Quarter Conference Call on August 14, 2020.

Usio, Inc. (Nasdaq: USIO) reported a strong performance for Q2 2020, driven by a 64% increase in prepaid card load volumes and a 47% increase in transaction volumes. Total dollars processed reached $694 million, with credit card transactions up by 26%, marking the highest in the company's history. However, the ACH sector experienced a 21% decline in electronic check transaction volume, primarily due to ongoing consumer lending weakness. Management remains optimistic about future growth due to robust customer retention and new accounts.