Usio reports Q3 EPS 10c, consensus 1c

Reports Q3 revenue $21.32M, consensus $21.38M. Louis Hoch, president and CEO of Usio (USIO), said, “Results in the third quarter continue to reflect strong fundamental processing growth, disciplined cost control, and strong positive cash flow and a continued commitment to cash management. We reported GAAP net income of approximately $2.9 million, or $0.10 per share, which includes a tax benefit of approximately $3.2 million, and we also generated positive Adjusted EBITDA, illustrating our improved operational performance and commitment to earnings growth. More importantly, our growing implementation queue from signed deals and pipeline have never been stronger, and we are beginning to generate activity/volume from some of our largest new opportunities. I am particularly pleased with our ability to almost completely replace the $10 million of one-time revenue lost with the completion of a large prepaid card contract in 2023, and to do so at stronger margins with a more recurring revenue base. We believe we are in excellent position to generate value for our shareholders over the long-term and believe we have the financial resources to assure that we are well prepared from the ramp in activity arising from the imminent growth in volume associated with this new business.”