Voyager Digital Reports Best Quarter Ever, Doubling Of Revenue

Zinger Key Points
  • Voyager Digital reports total funded accounts grew to 1.074 million in the quarter ending December 31, 2021.
  • The company says revenue for the quarter was $164.8 million, an over 4,400% year-over-year increase.

Crypto-asset platform Voyager Digital Ltd VYGVF announced revenues and growth plans on Tuesday, showing continued growth of its platform in the Fiscal 2022 Second Quarter ending December 31, 2021.

What Happened: In today's report, Voyager Digital said total funded accounts grew to 1.074 million, up from 860,000 on September 30, 2021. While total verified users on the platform rose to 3.2 million from 2.15 million in the previous quarter, an expansion of 49%.

Additionally, revenue for the quarter was $164.8 million, an over 4,400% year-over-year increase compared to $3.5 million for the quarter ending December 31, 2020.

"I am excited to report our best quarter ever, doubling our revenue from the previous quarter, and highlighting Voyager's positioning and revenue opportunity in active markets," said Steve Ehrlich, CEO, and co-founder of Voyager.

"More importantly, we delivered significant revenue growth and supported a marked increase in customer activity without any material system issues during the quarter, highlighting the steps we've taken to build out the scale and security of the Voyager platform in 2021, as we position Voyager for a series of product rollouts in calendar 2022," he said.

Also See: 4 Crypto Stocks Thriving Despite Market Slowdown

Why It Matters: Voyager, in a move to provide retail and institutional investors turnkey solutions to trade crypto assets, offers execution, data, wallets, and custody.

The company is also a Benzinga Listmaker, part of Benzinga’s Global Fintech Index, recognized for its accomplishments in innovating, as well as merging, the best of finance and technology.

"In 2021, we scaled our technology to accommodate rapid growth as mainstream crypto adoption accelerated," Ehrlich said.

"Now, with our platform and technological capabilities enhanced, 2022 marks the next phase of Voyager's growth through product and geographic expansion, alongside marketing efforts to reach new customers," he added.

In addition to growing its team, the brand will roll out debit cards, credit products, and equity trading in Europe and Canada.

Other areas Voyager is looking to expand into are NFTs, payments, and custody.

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Posted In: EarningsFintechNewsSmall CapStephen EhrlichVoyager Digital
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