Usio Reiterates Fiscal 2023 Revenue Growth Guidance Of 18-20% YoY
Portfolio Pulse from Benzinga Newsdesk
Usio, Inc. (NASDAQ:USIO) reiterates its fiscal 2023 revenue growth guidance of 18-20% YoY, driven by a 21% increase in Q4 electronic payments processing volume, excluding crypto. The company expects record revenues and positive adjusted EBITDA for 2023. Growth was led by a 65% increase in prepaid card purchase volume and a 17% increase in PayFac volume. Usio's exit from crypto processing in late 2022 contributed to a 21% increase in total processing volume for the year, excluding crypto volumes. The company also highlighted innovations and capacity expansions in its Output Solutions business.
March 12, 2024 | 1:12 pm
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Usio, Inc. expects fiscal 2023 revenue growth of 18-20% YoY, driven by strong Q4 performance in electronic payments processing, excluding crypto volumes. The company anticipates record revenues and positive adjusted EBITDA for 2023.
The reiteration of revenue growth guidance by Usio, along with the expected record revenues and positive adjusted EBITDA, indicates a strong financial performance and operational efficiency. The significant growth in electronic payments processing volume, especially in the prepaid and PayFac segments, underscores the company's robust position in the fintech space. Exiting the crypto processing industry has also positively impacted the processing volume, highlighting strategic business decisions. These factors collectively suggest a positive short-term impact on USIO's stock price.
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