Voyager Digital announces preliminary revenue of $100-105M

Voyager Digital announces preliminary revenue of $100-105M

By Daniela Kirova - min read

Voyager Digital Ltd., one of the most dynamically growing US cryptocurrency platforms, announced preliminary revenue and user metrics for the last fiscal quarter, which ended on March 31, 2022.

Steve Ehrlich, Voyager's CEO and Co-founder, announced:

Voyager continued its account growth in the quarter ended March 31, 2022 by adding 115,000 funded accounts which was slightly over a 10% growth from December 31, 2021 and was accomplished during an extremely challenging quarter based upon spot market volume. In the quarter, Voyager delivered on its goal of expanding our products by delivering the first batch of the Voyager Debit Card and adding the Voyager desktop to a significant beta group.  We remain focused on positioning our platform as one of the leading players in digital assets for consumers and expect continued customer growth in 2022.

3.5M verified users, $400M new deposits

Voyager announced key metrics for the last fiscal quarter. They estimate preliminary total revenue for the quarter to be around $100-$105 million. This is down from $164.8 million for the quarter that ended on December 31 last year, but up from $60.4 million y/y.

The crypto platform’s total funded accounts were around 1.2 million, up from 1.075 million on December 31 and 274,000 y/y.

They had around 3.5 million total verified users as of March 31, 2022, up from 3.2 million on December 31 last year and a million y/y.

The net amount of new deposits for the last quarter was approximately $395 million, down from $1.04 billion on December 31.

Steve Ehrlich added:

As discussed at our last earnings call, in 2021 we scaled our technology to accommodate rapid growth as mainstream crypto adoption accelerated and now in 2022 we have begun to deliver on the expansion of our product suite and will continue to roll out new and enhanced products and services as well as geographic expansion.