Usio, Inc. Q3 2024: Revenue Up, Assets $29.8M

TL;DR

Usio's Q3 revenue ticked up to $2.3M, assets at $29.8M. Solid but no fireworks.

AI Summary

Usio, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported total assets of $29.8 million and total liabilities of $2.6 million for the nine months ended September 30, 2024. Revenue for the third quarter of 2024 was $2.3 million, a slight increase from $2.1 million in the same quarter of 2023.

Why It Matters

This filing provides a snapshot of Usio, Inc.'s financial health and performance for the third quarter of 2024, impacting investor confidence and potential future investment decisions.

Risk Assessment

Risk Level: medium — The company's financial performance shows modest growth, but the filing does not contain significant positive or negative news that would drastically alter its risk profile.

Key Numbers

• $29.8M — Total Assets (As of September 30, 2024)
• $2.6M — Total Liabilities (As of September 30, 2024)
• $2.3M — Revenue (9 months ended Sep 30, 2024) (Indicates operational performance)
• $2.1M — Revenue (9 months ended Sep 30, 2023) (For comparison to current period)

Key Players & Entities

• Usio, Inc. (company) — Filer of the 10-Q
• 20240930 (date) — End of reporting period
• $29,811,487 (dollar_amount) — Total assets as of September 30, 2024
• $2,594,623 (dollar_amount) — Total liabilities as of September 30, 2024
• $2.3 million (dollar_amount) — Revenue for the nine months ended September 30, 2024

FAQ

Key Financial Figures

• $0.001 — ich registered Common stock, par value $0.001 per share USIO The Nasdaq Stock Mar
• $319,000 — was $ 289,000 at September 30, 2024 and $319,000 at December 31, 2023 .and carried on th

Filing Documents

• usio20240930_10q.htm (10-Q) — 1248KB
• ex_722458.htm (EX-31.1) — 14KB
• ex_722459.htm (EX-31.2) — 14KB
• ex_722460.htm (EX-32.1) — 10KB
• 0001437749-24-033606.txt ( ) — 4882KB
• usio-20240930.xsd (EX-101.SCH) — 41KB
• usio-20240930_cal.xml (EX-101.CAL) — 45KB
• usio-20240930_def.xml (EX-101.DEF) — 249KB
• usio-20240930_lab.xml (EX-101.LAB) — 259KB
• usio-20240930_pre.xml (EX-101.PRE) — 280KB
• usio20240930_10q_htm.xml (XML) — 684KB

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION 3 Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited). 3 Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations for the Three and Nine Months ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Cash Flows for the Nine Months ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity for the Three and Nine Months ended September 30, 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations. 12 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 18 Item 4.

Controls and Procedures

Controls and Procedures. 18

– OTHER INFORMATION

PART II – OTHER INFORMATION 19 Item 1. Legal Proceedings. 19 Item 1A. Risk Factors. 20 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 20 Item 3. Defaults Upon Senior Securities. 20 Item 4. Mine Safety Disclosures (Not applicable). 20 Item 5. Other Information. 20 Item 6. Exhibits. 21 2 Table of Contents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. USIO, INC. CONDENSED CONSOLIDATED BALANCE SHEETS September 30, 2024 December 31, 2023 (Unaudited) Assets Current assets: Cash and cash equivalents $ 8,392,317 $ 7,155,687 Accounts receivable, net 4,257,022 5,564,138 Settlement processing assets 59,549,564 44,899,603 Prepaid card load assets 22,065,567 31,578,973 Customer deposits 1,824,820 1,865,731 Inventory 400,002 422,808 Prepaid expenses and other 775,310 444,071 Current assets before merchant reserves 97,264,602 91,931,011 Merchant reserves 4,892,601 5,310,095 Total current assets 102,157,203 97,241,106 Property and equipment, net 3,304,601 3,660,092 Other assets: Intangibles, net 1,099,373 1,753,333 Deferred tax asset, net 4,690,053 1,504,000 Operating lease right-of-use assets 3,012,779 2,420,782 Other assets 340,285 355,357 Total other assets 9,142,490 6,033,472 Total assets $ 114,604,294 $ 106,934,670 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 579,618 $ 1,031,141 Accrued expenses 2,879,369 3,801,278 Operating lease liabilities, current portion 553,480 633,616 Equipment loan, current portion 192,206 107,270 Settlement processing obligations 59,549,564 44,899,603 Prepaid card load obligations 22,065,567 31,578,973 Customer deposits 1,824,820 1,865,731 Current liabilities before merchant reserve obligations 87,644,624 83,917,612 Merchant reserve obligations 4,892,601 5,310,095 Total current liabilities 92,537,225 89,227,707 Non-current liabilities: Equipment loan, net of current portion 562,923 718,980 Operating lease liabilities, net of current portion 2,573,100 1,919,144 Total liabilities 95,673,248 91,865,831 Commitments and contingencies (Note 9) Stockholders' equity: Preferred stock, $ 0.01 par value, 10,000,000 shares authorized; - 0 - shares outstanding at September 30, 2024 (unaudited) and December 31, 2023, respectively — — Co

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View this 10-Q filing on SEC EDGAR