Voyager Digital Ltd., one of the fastest-growing U.S. cryptocurrency platforms, announced preliminary revenue and user metrics for the fiscal quarter ending March 31, 2022.
Steve Ehrlich, Voyager’s CEO and co-founder, said:
Voyager continued its account growth in the quarter ended March 31, 2022 by adding 115,000 funded accounts, representing just over 10% growth from December 31, 2021. This growth occurred despite a challenging quarter for spot market volume. During the period we expanded our product offerings by launching the first batch of the Voyager Debit Card and introducing the Voyager desktop app to a substantial beta group. We remain focused on positioning our platform as a leading consumer-facing digital assets provider and expect continued customer growth in 2022.
3.5M verified users, $400M new deposits
Voyager reported several key metrics for the quarter. Preliminary total revenue is estimated at approximately $100–$105 million. While this figure is lower than the $164.8 million reported for the quarter ended December 31, 2021, it represents an increase from $60.4 million year over year.
The platform’s total funded accounts reached roughly 1.2 million, up from 1.075 million at the end of December and up 274,000 compared with the prior year.
As of March 31, 2022, Voyager had about 3.5 million total verified users, an increase from 3.2 million on December 31 and up by one million year over year.
Net new deposits for the quarter totaled approximately $395 million, down from $1.04 billion at the end of the previous quarter.
Steve Ehrlich added:
As discussed on our last earnings call, in 2021 we scaled our technology to support rapid growth while mainstream crypto adoption accelerated. In 2022 we have begun to deliver on the expanded product suite and will continue to roll out new and enhanced products and services, as well as pursue geographic expansion.