Usio reports Q3 EPS (9c), consensus (8c)

Reports Q3 revenue $16.4M, consensus $16.42M. Louis Hoch, President and Chief Executive Officer of Usio, said, "I am pleased to report our ninth consecutive quarter of revenue growth on the strength of record quarterly processing performance in our Card segment, where PayFac continues to generate outstanding growth, and record quarterly revenues in Output Solutions resulting from ongoing success cross-selling the installed Usio customer base. We also experienced rapid growth in our high-margin ACH returned check transactions processed services, offsetting lower overall ACH volumes compared to a year ago attributable to last year’s strong cryptocurrency market, which we have now almost entirely wound down. In our prepaid business, many of our larger pandemic relief and similar programs are entering their breakage and spoilage phase, where there is an estimated $18 million of potential future revenue sitting on cards which we expect to generate significant revenue and margin in the fourth quarter and over the next two years. These programs are now being augmented with new recurring revenue prepaid programs in both our traditional markets as well as in new markets, including healthcare, guaranteed income and commercial, such as MoviePass, where our unique technology and capabilities have proven a winning formula."