Usio Inc Stock Price, News & Analysis

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.

Usio, Inc. (NASDAQ: USIO) has closed a private placement of 1,796,407 shares of common stock at $1.67 per share, raising net proceeds of $3 million. The funds will be utilized for working capital purposes. CEO Louis Hoch expressed optimism about the offering, highlighting investor confidence and the opportunity to support growth initiatives. Topline Capital's founder commended Usio's business quality and management vision, indicating long-term support for the company. The shares sold in the offering have not been registered under securities laws.

Usio (Nasdaq: USIO), a tech-enabled payment solutions provider, announced a partnership with Lexicon, enhancing its presence in the legal software market. This collaboration will integrate Usio's proprietary PayFac-in-a-Box™ platform into Lexicon’s offerings, simplifying payment processes for law firms and their clients. Usio's strategy focuses on securing a foothold in a fragmented market, capitalizing on Lexicon's growth in legal services. Lexicon users will benefit from improved payment options, including credit and ACH payments, aiming for faster billing cycles.

Usio (Nasdaq: USIO) announced partnerships with major legal software providers, including AppClose and the largest bankruptcy software platform. This move establishes Usio's PayFac-in-a-Box technology as the leading payments solution in the legal sector. The partnerships aim to streamline transactions for hundreds of thousands of clients by integrating Usio's payment facilitation platform, eliminating manual processes and reducing costs. With a projected rise in transaction volume, Usio expresses optimism about its foothold in a fragmented market filled with recurring payments.