CCT - Crypto Currency Tracker logo CCT - Crypto Currency Tracker logo
Seeking Alpha 2021-10-06 16:05:34

Voyager Digital trades in red on FQ1 prelim revenue seen lower Q/Q

For 1Q22, Voyager Digital (OTCQX:VYGVF -12.1%) indicated that total funded accounts crosses 860K (+29% Q/Q) while total verified users on the platform stood at 2.15M+ (+23% Q/Q). Prelim revenue for the quarter is seen at $63 – 67M compared to $109M for FQ4 and $2M in year ago quarter. Net new deposits stood at ~$827M, compared to $1,620M for the FQ4. "As we continue to grow our funded accounts, Voyager's transactional volume is contingent on market volume and the overall market volume decreased substantially in July and August. We have begun to diversify our revenue model to generate long term staking rewards providing recurring revenue. As we continue to develop staking capabilities, we expect that rewards and yield revenue will generate between $40 - $50 million of revenue for the December quarter," CEO and co-founder Stephen Ehrlich commented.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.