Movers and SHAKERS
Voyager Digital (VYGVF)(VOYG:CA)
Drop in September Quarter Revenue Down to Market Fluctuations
Voyager Digital Ltd through its subsidiary, operates as a crypto asset broker that provides retail and institutional investors with a turnkey solution to trade crypto assets. The company offers investors execution, data, wallet and custody services through its institutional-grade open architecture platform.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Business Update. Voyager provided a business update for the first quarter of fiscal 2022, which ended September 30th. On the positive side, user metrics continued to grow positively. On the negative side, projected revenue is significantly below consensus projections.
The Negative. 1Q22 revenue is projected in the $63-$67 million range, compared to an estimated $109 million in 4Q21, and consensus of $113 million. While disappointing, as we stated previously we would expect to see variability in crypto trading volumes as this remains an emerging industry, and this may result in some lumpiness in revenue growth. And this is what occurred as volumes fell sharply ...
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.