Usio Expects Over 100% Year-Over-Year Growth in First Quarter Electronic Payments Volume
April 12 2021 - 9:00AM
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.
Contact:Joe Hassett, Investor
Relationsjoeh@gregoryfca.com484-686-6600
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