re: Voyager - VYGVF Due Diligence

Good move.

Voyager just crushed their earning report yesterday. It should be much higher than it is right now.

Highlights:


Voyager reported another record quarter, with momentum continuing in the fiscal fourth quarter to date.

Total revenue in the fiscal 2021 third quarter increased to US$60.4 million, up over 16x from US$3.6 million in the fiscal 2021 second quarter.


Operating profit of US$30 million for the fiscal third quarter, with an operating margin of 50% - the Company's first ever quarter of operating profit.


The Company ended the fiscal 2021 third quarter with adjusted working capital of US$197 million.


US$5 billion of principal volume traded for the fiscal 2021 third quarter, compared to US$350 million of principal value traded in the fiscal second quarter.


May new funded accounts already have well exceeded the entire month of April, exceeding 1.6 million verified accounts as of today.

"Voyager reported another record period with strong third quarter results. This momentum has continued into our fiscal 2021 fourth quarter to date, as we continue to see an acceleration in all of our key metrics," said Steve Ehrlich, Voyager's CEO and Co-founder. "It is clear that Voyager's strategy to be the most consumer friendly, transparent, and easy-to-use platform with leading offerings of altcoins and interest-yielding assets has gained significant market share. Our focus on a wide range of coins has contributed to a long-term economic model with fiscal third-quarter operating margins increasing to 50%. Given our success to date, we anticipate that our operating margin should continue to scale in future periods."

During the fiscal 2021 third quarter, Voyager continued to make significant upgrades to its systems infrastructure and staff with a focus on platform security, scalability and customer support. Since calendar year end, the Company has increased its headcount by approximately 4x in support of these initiatives and Voyager's rapid growth.