VOYAGER DIGITAL ANNOUNCES ESTIMATED REVENUE OF APPROXIMATELY USD$165MM FOR THE QUARTER ENDED DECEMBER 31, 2021

TSX: VOYG
OTCQB: VYGVF
Borse Frankfurt: UCD2

Preliminary revenues for the calendar year ended December 31, 2021 are expected to exceed USD$415 million

NEW YORK, Jan. 5, 2022 /PRNewswire/ - Voyager Digital Ltd. ("Voyager" or the "Company") (TSX: VOYG) (OTCQB: VYGVF) (FRA: UCD2), one of the fastest-growing, publicly traded cryptocurrency platforms in the United States, today announced preliminary revenue and user metrics for the fiscal 2022 second quarter ended December 31, 2021 and is pleased to provide commentary on the Company's calendar 2022 growth plans.

"Voyager had outstanding growth in the quarter ended December 31, 2021, with preliminary revenue anticipated to be approximately $165 million, up from $3.6 million for quarter ended December 31, 2020, and with funded accounts surpassing one million, up from just 43,000 at the beginning of the year.  We remain focused on positioning our platform as one of the leading players in digital assets for consumers and expect continued customer growth in 2022," said Steve Ehrlich, Voyager's CEO and Co-founder.  "In 2021, we scaled our technology to accommodate rapid growth as mainstream crypto adoption accelerated. Now, with our platform and technological capabilities enhanced, 2022 marks the next phase of Voyager's growth through product and geographic expansion, alongside marketing efforts to reach new customers."

The Company is pleased to announce the following Financial and Operational Key Metrics for fiscal 2022 second quarter ended December 31, 2021:

• Preliminary total revenue for the fiscal 2022 second quarter ended December 31, 2021 is estimated at $165 million, compared to $81.5 million for the fiscal 2022 first quarter ended September 30, 2021 and $3.6 million for fiscal 2021 second quarter ended December 31, 2020.
• Preliminary total revenue for the calendar year 2021 is estimated to exceed $415 million vs $6.6 million for the calendar year 2020. This includes preliminary estimated revenue from merchant services of $29 million.
• Preliminary revenue from merchant services, which is included in total revenue, is estimated to be $15 million for the fiscal 2022 second quarter ended December 31, 2021 vs $14 million for the fiscal 2022 first quarter ended September 30, 2021.
• Total Verified Users grew to 3.2 million as of December 31, 2021, up from 2.15 million on September 30, 2021 and 159,000 on December 31, 2020.
• Total Funded Accounts grew to 1.075 million as of December 31, 2021, up from 860,000 on September 30, 2021 and 43,000 on December 31, 2020.
• Net new deposits for the fiscal 2022 second quarter ended December 31, 2021 were approximately $ 1.04 billion, compared to the $ 827million for the fiscal 2022 first quarter ended September 30, 2021.

• (1) preliminary, non-reviewed and unaudited and subject to final adjustment
  (2) unaudited
• All amounts are in U.S. dollars, unless otherwise indicated.

Steve Ehrlich continued, "We've rapidly grown our employee base by more than 7x, from 35 employees at January 1, 2021 to over 250 at the end of 2021.  We expect to continue to grow our team in 2022 as we expand into NFT's, the Metaverse, and our own custody solution. Also, we look forward to beginning our rollout in Europe and Canada, launching our debit card, and adding credit products and equity trading. Further, Voyager will continue to build out our payment processing capabilities as we add merchant payment systems to our already established payment system. As we look ahead, we remain committed to driving sustainable long-term customer growth and executing on our strategic priorities, and will accelerate our growth through M&A when appropriate."

Voyager will be announcing the results of its fiscal 2022 second quarter ending December 31st on or about February 14th. Voyager will also be participating in Eight Capital's innoVIII: Riding the Digital Rails Virtual Conference on January 26th.

For more information about investor events that Voyager will be participating in, please visit www.investvoyager.com/investorrelations/events.

All amounts are in US Dollars unless otherwise indicated.

About Voyager Digital Ltd.
Publicly traded Voyager Digital Ltd.'s (TSX: VOYG) (OTCQB: VYGVF) (FRA: UCD2) US subsidiary, Voyager Digital, LLC, is a fast-growing, cryptocurrency platform in the United States founded in 2018 to bring choice, transparency, and cost efficiency to the marketplace. Voyager offers a secure way to trade over 70 different crypto assets using its easy-to-use mobile application and earn rewards up to 12 percent annually on more than 35 cryptocurrencies. Through its subsidiary Coinify ApS, Voyager provides crypto payment solutions for both consumers and merchants around the globe. To learn more about the company, please visit https://www.investvoyager.com.

Financial Disclaimer:
The preliminary estimated financial results and other data for the three and six months ended December 31, 2021 set forth above are subject to the completion of the Company's financial closing procedures. This data has been prepared by, and is the responsibility of, the Company's management and audit committee. Voyager's independent registered public accounting firm, Marcum LLP, does not express an opinion or any other form of assurance with respect thereto. The Company currently expects that its final results of operations and other data for the interim period ended December 31, 2021 will be consistent with the estimates set forth above, but such estimates are preliminary and Voyager's actual results of operations and other data could differ materially from these estimates due to the completion of its quarterly review procedures, final adjustments, and other developments that may arise between now and the time such unaudited consolidated financial statements for the three and six months ended December 31, 2021 are released.

Forward Looking Statements
Certain information in this press release, including, but not limited to, statements regarding future growth and performance of the business, momentum in the businesses, future adoption of digital assets, and the Company's anticipated results may constitute forward looking information (collectively, forward-looking statements), which can be identified by the use of terms such as "may," "will," "should," "expect," "anticipate," "project," "estimate," "intend," "continue" or "believe" (or the negatives) or other similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Voyager's actual results, performance or achievements to be materially different from any of its future results, performance or achievements expressed or implied by forward-looking statements. Moreover, we operate in a very competitive and rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties, and assumptions, the future events and trends discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Forward looking statements are subject to the risk that the global economy, industry, or the Company's businesses and investments do not perform as anticipated, that revenue or expenses estimates may not be met or may be materially less or more than those anticipated, that trading momentum does not continue or the demand for trading solutions declines, customer acquisition does not increase as planned, product and international expansion do not occur as planned, risks of compliance with laws and regulations that currently apply or become applicable to the business and those other risks contained in the Company's public filings, including in its Management Discussion and Analysis and its Annual Information Form (AIF). Factors that could cause actual results of the Company and its businesses to differ materially from those described in such forward-looking statements include, but are not limited to, a decline in the digital asset market or general economic conditions; changes in laws or approaches to regulation, the failure or delay in the adoption of digital assets and the blockchain ecosystem by institutions; changes in the volatility of crypto currency, changes in demand for Bitcoin and Ethereum, changes in the status or classification of cryptocurrency assets, cybersecurity breaches, a delay or failure in developing infrastructure for the trading businesses or achieving mandates and gaining traction; failure to grow assets under management, an adverse development with respect to an issuer or party to the transaction or failure to obtain a required regulatory approval. In connection with the forward-looking statements contained in this press release, the Company has made assumptions that no significant events occur outside of the Company's normal course of business and that current trends in respect of digital assets continue. Readers are cautioned that Assets Under Management and trading volumes fluctuate and may increase and decrease from time to time and that such fluctuations are beyond the Company's control. Forward-looking statements, past and present performance and trends are not guarantees of future performance, accordingly, you should not put undue reliance on forward-looking statements, current or past performance, or current or past trends. Information identifying assumptions, risks, and uncertainties relating to the Company are contained in its filings with the Canadian securities regulators available at www.sedar.com. The forward-looking statements in this press release are applicable only as of the date of this release or as of the date specified in the relevant forward-looking statement and the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after that date or to reflect the occurrence of unanticipated events, except as required by law. The Company assumes no obligation to provide operational updates, except as required by law. If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements, unless required by law. Readers are cautioned that past performance is not indicative of future performance and current trends in the business and demand for digital assets may not continue and readers should not put undue reliance on past performance and current trends. 

The TSX has not approved or disapproved of the information contained herein.

SOURCE Voyager Digital, Ltd.

Press Contacts

Voyager Digital, Ltd.
Michael Legg
Chief Communications Officer
(212) 547-8807
[email protected]

Voyager Public Relations Team
pr@investvoyager.

SOURCE Voyager Digital (Canada) Ltd.

Related Links

https://www.investvoyager.com/

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