Usio Expects Over 100% Year-Over-Year Growth in First Quarter Electronic Payments Volume
Record Total Volumes Expected for Dollars Processed; to Exceed $1.8 Billion, Doubling of Fourth Quarter of 2020, Previous Record Quarter of $920 Million
Strong Business Momentum Sustained
SAN ANTONIO, April 12, 2021 (GLOBE NEWSWIRE) -- Usio, Inc. (Nasdaq: USIO), an integrated electronic payment solutions provider, today announced that it expects to report record processing results for the first quarter of 2021.
Louis Hoch, President and Chief Executive Officer of Usio, said, “I am pleased to report that through our diverse payment channel strategy, all three of our segments, ACH, Card and Prepaid, are expected to report over 100% year-over-year growth in important Key Performance Metrics. This generated all-time record quarterly volume for dollars processed for the first three months of 2021. This is an excellent start to a year in which we expect to see revenue growth of 50% and a significant improvement in our profitability metrics.”
These results are based in part on preliminary results. Usio plans to release final transaction and processing volume results for the first quarter at a later date.
About Usio, Inc.
Usio, Inc. (Nasdaq: USIO), a leading FinTech and integrated payment solutions provider, offers a wide range of payment solutions to merchants, billers, banks, service bureaus, leading FinTech and non-bank lenders, and card issuers. The Company operates credit, debit/prepaid, and ACH payment processing platforms to deliver convenient, world-class payment solutions and services to its clients. The strength of the Company is its ability to provide tailored solutions for card issuance, payment acceptance, and bill payments as well as its unique technology in the prepaid sector and its ability to provide and execute on its service commitments. Usio is headquartered in San Antonio, Texas, and has offices in Austin, Texas, and Franklin, Tennessee, just outside of Nashville. Websites: www.usio.com, www.singularpayments.com, www.payfacinabox.com, www.akimbocard.com and www.usiooutput.com.
FORWARD-LOOKING STATEMENTS DISCLAIMER
Except for the historical information contained herein, the matters discussed in this release include forward-looking statements which are covered by safe harbors. Those statements include, but may not be limited to, all statements regarding management’s intent, belief and expectations, such as statements concerning our future and our operating and growth strategy. These forward-looking statements are identified by the use of words such as “believe,” “intend,” “look forward,” “anticipate,” “schedule,” and “expect” among others. Forward-looking statements in this press release are subject to certain risks and uncertainties inherent in the Company’s business that could cause actual results to vary, including risks related to the COVID-19 pandemic and its effect on the economy, risks related to the realization of the anticipated opportunities from the IMS acquisition, the management of the Company’s growth, the loss of key resellers, the relationships with the Automated Clearinghouse network, bank sponsors, third-party card processing providers and merchants, the security of our software, hardware and information, the volatility of the stock price, the need to obtain additional financing, risks associated with new tax legislation, and compliance with complex federal, state and local laws and regulations, and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission including its annual report on Form 10-K for the fiscal year ended December 31, 2020. One or more of these factors have affected, and in the future, could affect the Company’s businesses and financial results in the future and could cause actual results to differ materially from plans and projections. The Company believes that the assumptions underlying the forward-looking statements included in this release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that the objectives and plans will be achieved. All forward-looking statements made in this release are based on information presently available to management. The Company assumes no obligation to update any forward-looking statements, except as required by law.
Joe Hassett, Investor Relations