Usio(US:USIO)2025-11-12 21:01Revenue and Financial Performance - Revenue for Q3 2025 was $21.2 million, slightly down from $21.3 million in Q3 2024, primarily due to declines in prepaid card services[10]. - Revenues for the three months ended September 30, 2025, were $21,180,333, a slight decrease of 0.66% compared to $21,321,478 for the same period in 2024[33]. - Total payment dollars processed in Q3 2025 were $2.18 billion, an 8% increase from $2.02 billion in Q3 2024[8]. - Total payment transactions processed in Q3 2025 were 16.2 million, a 27% increase compared to the same quarter last year[8]. - The company reported a net loss of approximately $0.4 million, or $0.02 per share, compared to net income of $2.9 million, or $0.10 per share, in Q3 2024[5]. - The company reported a net loss of $(1,016,710) for the nine months ended September 30, 2025, compared to a net income of $2,676,572 in 2024[33]. - The company experienced a net loss of $415,086 for the three months ended June 30, 2025, compared to a net loss of $366,654 for the previous quarter[36]. - The operating loss for the three months ended September 30, 2025, was $(464,171), compared to a loss of $(376,650) in the same period of 2024[33]. - Adjusted EBITDA for Q3 2025 was $0.4 million, down from $0.8 million in Q3 2024[13]. - Adjusted EBITDA for the three months ended September 30, 2025, was $368,257, representing an adjusted EBITDA margin of 1.7%, down from 3.6% in the prior year[39]. Expenses and Liabilities - SG&A expenses for Q3 2025 were $4.5 million, up from $4.1 million in the prior year, primarily due to increased salaries and infrastructure costs[12]. - Total liabilities decreased to $80,712,546 as of September 30, 2025, from $88,051,484 at the end of 2024, reflecting improved financial management[31]. - Cash and cash equivalents decreased to $7,746,456 as of September 30, 2025, down from $8,056,891 at the end of 2024[31]. - Total current assets decreased to $88,070,898 as of September 30, 2025, compared to $95,156,038 at the end of 2024, indicating a reduction in liquidity[31]. Growth and Future Outlook - ACH revenue grew by 36% year-over-year, reaching $5.84 million in Q3 2025, driven by increased transaction volume[11]. - PINless debit transactions increased by 96% and dollars processed rose by 87% year-over-year, reflecting strong growth in the mortgage servicing and fintech sectors[2]. - The company is positioned for growth with new accounts in implementation, including a significant enterprise customer expected to generate over $100 million in annual recurring processing volume[6]. - The company continues to invest in technology and product development, as indicated by capitalized labor for internal use software amounting to $(846,375) for the nine months ended September 30, 2025[35]. Stockholder Equity and Shares - As of September 30, 2025, total stockholders' equity was $18,688,554, a decrease from $19,156,963 at the end of the previous fiscal year[36]. - The company issued 937,400 shares of common stock under the equity incentive plan, resulting in an increase of $1,438,747 in paid-in capital[36]. - The balance of common stock increased to 31,191,733 shares by September 30, 2025, from 30,038,355 shares at the end of March 2025[36]. Depreciation and Amortization - The company recorded depreciation and amortization expenses of $432,846 for the three months ended September 30, 2025[39]. - The total accumulated deficit as of September 30, 2025, was $(69,049,366), reflecting an increase from $(68,634,280) at the end of June 2025[36].