Also, with momentum continuing into the current quarter. Total revenue for the period came in at $60.4 million, more than a 16x increase from $3.6 million over the previous quarter, the retail crypto trading and yield platform reported another record quarter. The retail crypto trading and yield platform reported another record quarter
With an operating profit of $30 million and an adjusted working capital of $197 million, the company ended the quarter. Voyager said in an announcement, that It was the firm’s first-ever quarter of operating profit.
Leading to a massive revenue boost for the firm. Q1 saw $5 billion of principal volume traded compared to $350 million of principal value traded in the previous quarter, Trading volumes have also surged in 2021.
Furthermore, with currently 1.6 million verified users according to Nasdaq, Newly funded accounts in May have already surpassed the whole month of April,
Voyager’s CEO and co-founder, Steve Ehrlich, stated that the platform’s leading altcoins and interest-yielding asset offerings have gained significant market share.
“Our focus on a wide range of coins has contributed to a long-term economic model with fiscal third-quarter operating margins increasing to 50%. Given our success to date, we anticipate that our operating margin should continue to scale in future periods.”
The Voyager app currently supports the trading of over 50 crypto assets. Ehrlich added that the platform saw exponential adoption of cryptocurrencies as a recognized and investable asset class in March, which translated into significant growth for Voyager.