Usio, Inc. reported a revenue increase of 5% for the first quarter of 2025, reaching $22.0 million compared to $20.97 million in the same period of 2024. The growth was primarily driven by a 30% rise in revenues from ACH and complementary services, which offset a decline in prepaid card service revenues. The company recorded a net loss of $234,970, a slight improvement from the loss of $250,188 reported in the prior year. The basic and diluted loss per share remained at $(0.01) for both periods.
In terms of operational metrics, Usio processed $2.0 billion in total dollar volumes across all business lines during the first quarter of 2025, a 34% increase from $1.5 billion in the same quarter of 2024. The number of credit card transactions processed surged by 65%, while ACH transaction counts rose by 36%. However, prepaid card load volumes decreased by 15%, attributed to the winding down of large prepaid card programs. The company’s total assets increased to $109.62 million as of March 31, 2025, up from $107.21 million at the end of 2024.
Usio's strategic initiatives included the continued development of its "One Usio" strategy, aimed at unifying its brand and enhancing customer management and reporting capabilities. The company also focused on expanding its product offerings, including the introduction of real-time payment solutions. The workforce remained stable, with no significant changes in employee headcount reported during the quarter.
The company’s selling, general, and administrative expenses were flat at $4.1 million, reflecting improved operational efficiencies. Usio's cash and cash equivalents stood at $8.72 million, with net cash provided by operating activities amounting to $1.37 million, a significant increase from $88,661 in the prior year. The company maintains an unsecured revolving line of credit with a maximum borrowing capacity of $475,000, which remains undrawn as of the reporting date.
Looking ahead, Usio anticipates continued revenue growth driven by its focus on expanding its ACH and credit card processing services, while also addressing the challenges posed by competitive pricing pressures in the credit card processing market. The company remains committed to enhancing its technology and service offerings to meet evolving customer needs and capitalize on market opportunities.
About Usio, Inc.
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