Reports Q4 revenue $11.1M, one-estimate $12.5M.Fourth quarter net revenue increased by $4Mor 56%, to $11.1M from $7.1M in the year earlier quarter. The increase was primarily due to an increase in processing volume due to a number of factors, including: growth of our customer/merchant base as the result of expanded sales and marketing efforts; the expansion and growth of our advanced blockchain ledger-based payment solutions product offering, combined with an expanding ISO and partnership network; our expansion into the banking as a service (BaaS) and FX business using our acquired capabilities in the EU market; our business growth in American Samoa; and our strategic acquisition strategy.
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