Usio ( (USIO) ) has released its Q3 earnings. Here is a breakdown of the information Usio presented to its investors.
Usio, Inc. is a FinTech company based in San Antonio, Texas, offering integrated, cloud-based electronic payment solutions across various platforms for merchants, banks, and software vendors. It operates in the financial technology sector with a strong focus on innovative payment facilitation and card issuing solutions.
In its third-quarter 2024 financial results, Usio reported a net income of $2.9 million, or $0.10 per share, marking a significant improvement from the previous year’s net loss. The company showcased a robust growth in payment processing volumes, with a 46% increase in total payment dollars processed compared to the same period last year.
Key financial highlights include a 2% increase in quarterly revenues to $21.3 million and a substantial rise in ACH and complementary services revenue. Usio managed to largely offset the loss from a significant prepaid card contract completion in 2023 with higher-margin, recurring revenue streams. The company also reported an adjusted EBITDA of $0.8 million, indicating improved operational performance.
Usio’s strategic focus on expanding its ACH business and enhancing margins across its service lines has paid off, with notable growth in electronic check and prepaid card volumes. The company continues to maintain disciplined cost-control measures, leading to a reduction in general and administrative expenses.
Looking ahead, Usio is poised for continued profitability, supported by a strong portfolio of recurring revenues and a robust financial position. With signed contracts and a promising implementation pipeline, the company is optimistic about exceeding a $100 million annual revenue run rate in 2025.
