Usio, Inc. operates a cloud-based FinTech payments business that provides integrated electronic payment and embedded financial solutions. Its platforms support credit, debit/prepaid and ACH processing, payment acceptance, card issuance, bill payments and disbursement services for merchants, billers, banks, service bureaus, integrated software vendors and card issuers.
Company updates commonly cover quarterly financial results, processing volume and transaction trends, ACH and credit card activity, prepaid and programmable card products, and developments in the Usio Output Solutions division, which provides electronic bill presentment, document composition, document decomposition, printing and mailing services. News also includes product launches such as private-label gift card capabilities, completed acquisitions that add financial-technology functions, capital allocation activity and shareholder communications.
Usio, Inc. (Nasdaq: USIO) announced its second quarter fiscal year 2022 financial results will be released after the market closes on August 11, 2022. A conference call for discussion of these results and business updates will take place on August 12, 2022, at 11:00 a.m. Eastern time. Interested parties can participate by calling 1-844-883-3890 (U.S.) or 1-412-317-9246 (international), or via a live webcast at www.usio.com/investors. A replay will be available after the call until August 26, 2022.
Usio, Inc. (NASDAQ: USIO) reported total processing of $2.4 billion in Q2 2022, marking a 2% sequential increase. The Card Segment, including PayFac, achieved record dollar and transaction volumes. Prepaid transactions nearly doubled year-over-year, while ACH services showed growth despite declines from prior record highs. The company maintains a revenue growth outlook of 16% - 20% for 2022. Key metrics included over $332 million processed and nearly 2.8 million transactions in the Card segment, both all-time highs. Total transactions reached 10.35 million.
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Usio, Inc. reiterates its revenue guidance for 2022, projecting a growth of 16-20% compared to 2021. The company anticipates a decline in ACH transaction volume compared to record highs last year due to increased crypto enthusiasm, but a mild revenue impact is expected. Notably, Usio's ACH returned check transactions have surged, marking the highest volume in 11 years. However, Voyager Digital's recent suspension of operations poses a risk, as it accounted for 8% of Usio's revenue. Nevertheless, Usio has a solid cash position of $7.6 million and minimal debt, supporting future growth.
Usio, Inc. (Nasdaq: USIO) has expanded its reach by partnering with guaranteed income programs in New York, Chicago, Denver, and Arlington, Virginia. These programs will utilize Usio's prepaid card solution for disbursing funds, enhancing financial accessibility for participants without bank accounts. The CEO emphasized Usio's role as a leader in electronic payments for these initiatives, highlighting the convenience of direct cash transfers. The latest programs include significant financial support for low-income individuals, with targeted monthly payments designed to improve economic stability.
Usio, Inc. (Nasdaq: USIO) announced the appointment of Michelle Miller to its Board of Directors, effective June 22, 2022. With over 25 years of experience in banking, particularly in private banking and business development, Miller currently serves as Senior Vice President at Broadway Bank. She enriches the board's expertise by joining the Audit and Compensation Committees, which now brings the board's total to six members. Louis Hoch, the Vice-Chairman, expressed confidence in her ability to provide valuable insights to the company.
Usio to Present at LD Micro Invitational XII
On June 7, 2022, at 1:30 PM EDT, Usio (Nasdaq: USIO) will participate in the LD Micro Invitational XII. CEO Louis Hoch and SVP Greg Carter will represent the company. This three-day investor conference will showcase over 200 companies, featuring half-hour presentations and private meetings, held from June 7-9 at the Four Seasons Westlake Village. Interested parties can register for the virtual presentation here.
Usio, a leading FinTech payment solutions provider, will participate in the H.C. Wainwright Global Investment Conference from May 23-26, 2022, in Miami. Key executives, including CEO Louis Hoch, will represent the company. An on-demand audio webcast is scheduled for May 24, 2022, at 1:30 PM ET, available on Usio's investor relations website. Investors can arrange meetings with management during the conference via provided contacts. Usio offers a variety of integrated electronic payment solutions, catering to diverse clients including merchants and banks.
Usio, a leading FinTech integrated payment solutions provider, will participate in the Barrington Research Virtual Spring Conference on May 19, 2022. Key executives, including CEO Louis Hoch and Senior VPs Greg Carter and Houston Frost, will represent the company. Usio specializes in a diverse range of payment solutions for merchants, financial institutions, and service bureaus, and has expanded its services following the acquisition of IMS assets in December 2020. For meeting requests, attendees should contact Barrington Research.
Usio, Inc. (Nasdaq:USIO) announced a $4 million stock buyback program to bolster shareholder value. The repurchases can occur on the open market, block transactions, or privately negotiated deals, effective from May 16, 2022, until May 15, 2025, unless terminated earlier. Usio's management asserts that the current stock price underrepresents the company’s seven consecutive quarters of revenue growth, signifying strong growth potential. The program will be funded through existing cash and adjusted operating cash flow, aimed at enhancing shareholder returns.