{"id":830198,"date":"2025-03-26T16:09:26","date_gmt":"2025-03-26T20:09:26","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/usio-announces-improved-profitability-fourth-quarter-gaap-earnings-of-0-02-per-share-and-full-year-gaap-earnings-of-0-12-per-share\/"},"modified":"2025-03-26T16:09:26","modified_gmt":"2025-03-26T20:09:26","slug":"usio-announces-improved-profitability-fourth-quarter-gaap-earnings-of-0-02-per-share-and-full-year-gaap-earnings-of-0-12-per-share","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/usio-announces-improved-profitability-fourth-quarter-gaap-earnings-of-0-02-per-share-and-full-year-gaap-earnings-of-0-12-per-share\/","title":{"rendered":"Usio Announces Improved Profitability; Fourth Quarter GAAP Earnings of $0.02\u00a0per share and Full Year GAAP Earnings of\u00a0$0.12 per share"},"content":{"rendered":"
\n

\n
\n Full Year Revenues up in each of ACH & Complementary Services, Card and Output Solutions Business Units<\/u>
\n <\/strong>\n <\/p>\n

\n Record Full Year 2024 Dollar Processing Volume of $7.1\u00a0Billion, a 33% Increase Compared to Fiscal 2023; Transactions Processed also up a Strong\u00a026% Year-over-Year<\/em>\n <\/p>\n

Cash Position Increases to Record High of $8.1 Million<\/p>\n

SAN ANTONIO, March 26, 2025 (GLOBE NEWSWIRE) — Usio, Inc: (Nasdaq: USIO), a leading FinTech company\u00a0that operates a full stack of integrated, cloud-based electronic payment and embedded financial solutions,\u00a0today announced financial results for the fourth quarter and year ended\u00a0December 31, 2024.<\/p>\n

Louis Hoch, Chairman and Chief Executive Officer of Usio, said, \u201cWe are delivering on our commitments as profitability improved, cash flow was strong, and revenue grew in each of our ACH & Complementary Services, Card and Output Solutions businesses in both the fourth quarter and full year 2024.\u00a0We also delivered another year of positive Adjusted EBITDA1<\/sup>. Results were driven across Usio by a\u00a033% increase in total dollar processing volume, which rose to\u00a0$7.1 billion from\u00a0$5.3 billion in 2023, while transactions processed\u00a0reached record levels on\u00a026% year-over-year growth. We attribute this solid revenue performance to our innovative technology and complementary business strategy while the bottom line continues to improve as we implement our disciplined cost control and enhance our results through operating leverage that our business model provides.<\/p>\n

\u201cFor the quarter, we reported\u00a0top line growth as well as our third consecutive quarter of positive GAAP net income, approximately $0.6\u00a0million, or $0.02\u00a0per share.\u00a0For both the quarter and the year, revenues were up in three of our business units, and in the fourth, prepaid\u00a0revenues were up when excluding the COVID incentive programs that was essentially wound down in\u00a0fiscal 2023. Cash flow remains strong, enabling us to bolster our balance sheet, which provides us with resources to support our growth initiatives.\u00a0In addition, cash flow in\u00a02024 was also used to repurchase $1.4 million of our stock.\u00a0And, today, the Board reauthorized a new repurchase agreement of $4 million\u00a0which\u00a0further illustrates our confidence in the business\u2019 long-term prospects. Together, this is a strong set up for what we believe will be another year of both top line\u00a0and Adjusted EBITDA1<\/sup>\u00a0growth in 2025.\u201d<\/p>\n

Momentum continues to accelerate in ACH and complementary services, with revenues up\u00a017% in the quarter and\u00a012% for the year, in large part reflecting success cross-selling ACH into existing Card and Prepaid accounts.\u00a0Card revenue growth remains solid, up\u00a06% for the quarter and\u00a03% for the year, led by PayFac, where revenues were up 29% in the quarter, and 22% on the year.\u00a0Output Solutions had a strong fourth quarter, growing revenues a healthy 13%, which drove the business to full year growth after facing headwinds in prior quarters during the year.\u00a0Total dollars loaded on prepaid cards exceeded $111 million in the fourth quarter, the sixth consecutive quarter of over $100 million in prepaid card loads.\u00a0Fiscal 2024 revenues comparisons in prepaid continue to reflect last year\u2019s expiration of COVID incentive programs, but we believe that Prepaid\u00a0should begin to benefit from the over 90 client agreements signed in 2024 and a more concerted focus on recurring revenue, ‘evergreen’\u00a0clients.”<\/p>\n

Gross profits and margins were down modestly for both the quarter and the year, due primarily to product mix.\u00a0Selling, general and administrative expenses were up just\u00a03% for the year, reflecting continued strong expense control.\u00a0The Company closed the 2024 fiscal year\u00a0with\u00a0$8.1 million cash on hand compared to year end cash of\u00a0$7.2 million in\u00a02023.\u00a0The Company expects this trend of positive cash growth to continue in fiscal 2025.<\/p>\n

Mr. Hoch concluded, “In 2024 our various growth initiatives enabled us to regain nearly all of the revenue lost with the planned expiration of\u00a0large COVID related card programs while improving profitability and further strengthening our financial position.\u00a0More importantly, we are fully embarking on our new\u00a0One Usio<\/em><\/strong> strategy, better integrating all of our various product offerings so that we approach the market as a unified force with a portfolio of capabilities that can meet our customer\u2019s various electronic payment and associated needs.\u00a0Already, we are seeing success selling multiple, complementary Usio products to an increasing number of clients who benefit from the synergies and efficiencies that arise from consolidating their relationships.\u00a0While this has always been one of our competitive advantages, in 2025 we are redoubling our efforts and organizing around this concept to better unlock the inherent value of this strategy.\u00a0At the same time, we believe we have the infrastructure to support our growth initiatives such that we can expect to see continued improvement in our operating leverage.\u00a0We believe\u00a02025 will be another year of growth as we create value for our shareholders.\u201d<\/p>\n

\n
\n Fiscal 2025 Guidance<\/u>
\n <\/strong>\n <\/p>\n

The Company continues to expect strong 14 – 16% growth in revenue in 2025 while also anticipating Adjusted EBITDA1<\/sup>\u00a0margins in the 5 – 7% range. Guidance is conditioned on no appreciable deterioration in economic conditions.<\/p>\n

\n
\n Fourth Quarter 2024 Financial Summary<\/u>
\n <\/strong>\n <\/p>\n

Revenues were $20.6 million for the fourth quarter, up 2%\u00a0compared to $20.1\u00a0million in the same period in\u00a02023.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\n Three Months Ended December 31,<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n(in millions, except percentages)<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n 2024<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2023<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $ Change<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n % Change<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
ACH and complementary service revenue<\/td>\n\u00a0<\/td>\n$<\/td>\n4.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n3.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n17<\/td>\n%<\/td>\n<\/tr>\n
Credit card revenue<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6<\/td>\n%<\/td>\n<\/tr>\n
Prepaid card services revenue<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1.0<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(24<\/td>\n)%<\/td>\n<\/tr>\n
Output Solutions revenue<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n13<\/td>\n%<\/td>\n<\/tr>\n
Interest – ACH and complementary services<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(0.1<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(22<\/td>\n)%<\/td>\n<\/tr>\n
Interest – Prepaid card services<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(0.2<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(41<\/td>\n)%<\/td>\n<\/tr>\n
Interest – Output Solutions<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n73<\/td>\n%<\/td>\n<\/tr>\n
Total Revenue<\/td>\n\u00a0<\/td>\n$<\/td>\n20.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n20.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2<\/td>\n%<\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n<\/table>\n

Revenue growth was primarily\u00a0attributable to\u00a017%\u00a0growth in our ACH and complementary services revenue, alongside\u00a013%\u00a0growth in Output solutions, helping offset a 24%\u00a0decrease in Prepaid revenues associated with the anticipated wind down of\u00a0COVID incentive programs in 2024.\u00a0Credit card revenues also saw a\u00a06%\u00a0increase, due to the success of our PayFac portfolio achieving 29% growth in the quarter, mitigating the continued attrition of our legacy credit card portfolios.<\/p>\n

Gross profits were $5.1\u00a0million, down\u00a04%\u00a0from\u00a0$5.3\u00a0million for the in\u00a02023. Gross margins were 24.6%\u00a0compared to 26.1%\u00a0in the same period in\u00a02023. Gross margins in the quarter primarily reflect a shift in revenue mix, and a decline in interest revenues versus the prior year period due to the lower interest rates in the period.\u00a0<\/p>\n

The Company had an operating loss of $0.6\u00a0million, compared to an operating loss of $0.0\u00a0million from the same period in\u00a02023.\u00a0<\/p>\n

Adjusted EBITDA1<\/sup> was positive\u00a0$0.5\u00a0million in the quarter, down\u00a0$0.5 million from\u00a0$1.1\u00a0million in the same period in\u00a02023, due primarily to lower gross profit margins, and an\u00a08%\u00a0increase in SG&A expense.<\/p>\n

For the quarter, the Company generated $0.5\u00a0million of interest revenue compared to\u00a0$0.8\u00a0million in the year ago quarter.<\/p>\n

Net income\u00a0for the\u00a0fourth quarter of 2024 was $0.6\u00a0million, or $0.02\u00a0per share,\u00a0compared to\u00a0net income of $0.03\u00a0million or $0.00\u00a0per share for the same period in\u00a02023. Results in the current quarter\u00a0primarily by\u00a0the receipt and recognition of approximately $1.5 million in funds related to the\u00a0employee retention tax credit made available through the CARES Act, and extended through the American Rescue Plan Act.<\/p>\n

During the quarter, the Company repurchased 331,222\u00a0shares of its stock at an average price of $1.46 for a total cost of $482,426 as part of its share buyback program.<\/p>\n

\n 1<\/sup> See reconciliation of non-GAAP financial measures below.<\/p>\n

\n
\n Financial Results for Full Year 2024<\/u>
\n <\/strong>\n <\/p>\n

Revenues for 2024 were $82.9\u00a0million, down\u00a01%\u00a0from\u00a0$84.1\u00a0million for the same period in\u00a02023.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\u00a0<\/td>\n\n Year Ended December 31,<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n(in millions, except percentages)<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\n 2024<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2023<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n $ Change<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n % Change<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
ACH and complementary service revenue<\/td>\n\u00a0<\/td>\n$<\/td>\n16.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n14.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n12<\/td>\n%<\/td>\n<\/tr>\n
Credit card revenue<\/td>\n\u00a0<\/td>\n29.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n28.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3<\/td>\n%<\/td>\n<\/tr>\n
Prepaid card services revenue<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n18.7<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(4.6<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(25<\/td>\n)%<\/td>\n<\/tr>\n
Output Solutions revenue<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n20.6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n20.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1<\/td>\n%<\/td>\n<\/tr>\n
Interest – ACH and complementary services<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.8<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.5<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n59<\/td>\n%<\/td>\n<\/tr>\n
Interest – Prepaid card services<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.3<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.4<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n44<\/td>\n%<\/td>\n<\/tr>\n
Interest – Output Solutions<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n220<\/td>\n%<\/td>\n<\/tr>\n
Total Revenue<\/td>\n\u00a0<\/td>\n$<\/td>\n82.9<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n84.1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(1.1<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1<\/td>\n)%<\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n<\/table>\n

The Company experienced strong revenue growth in its ACH and complementary services business segment, seeing an $1.8\u00a0million, or\u00a012%\u00a0increase over\u00a02023. This revenue growth, alongside a\u00a055%\u00a0increase in aggregate interest revenues, helped to offset the\u00a025% decline\u00a0in our prepaid card services, as we saw the anticipated wind down of revenues associated with\u00a0COVID incentive programs in\u00a02024. Strong net new customer and organic growth, specifically in our corporate and commercial card programs, generated over $7 million of revenues in 2024, greatly offsetting the revenues in 2023 associated with those COVID programs. Credit card revenues were also up\u00a03%, with PayFac growing 22% in\u00a02024, mitigating attrition in our legacy credit card lines of business. Revenues associated with our PayFac portfolio now exceed\u00a050% of total credit card processing revenues, and performance associated with our PayFac model\u00a0is anticipated to become more representative of overall credit card\u00a0revenue growth. Output Solutions revenues were up\u00a01%, as we fully implemented our new processing equipment through the year in order to position the business unit for continued growth in 2025 due to the increased capacity, efficiency, and speed our new equipment provides.<\/p>\n

Gross profit for the year ended December 31, 2024 was $19.6\u00a0million, down\u00a02%\u00a0from $20.1\u00a0million in fiscal\u00a02023. Gross margins were 23.7%\u00a0for the year ended December 31, 2024 compared to 23.9%\u00a0in fiscal\u00a02023, generally\u00a0reflecting a shift in business mix over the year.<\/p>\n

The Company reported $2.9\u00a0million in Adjusted EBITDA1<\/sup>\u00a0for the year ended December 31, 2024, a\u00a0$1.0\u00a0million decline versus\u00a0$3.9\u00a0million in 2023, due primarily to slightly lower revenues and gross margin, alongside a\u00a03%\u00a0increase in SG&A expense in\u00a02024. The Company increased its cash balance by\u00a0$0.9\u00a0million, while utilizing $1.4\u00a0million on share repurchases in\u00a02024.\u00a0The Company significantly improved its net income for the year by\u00a0$3.8\u00a0million to $3.3\u00a0million compared to a loss of\u00a0$0.5\u00a0million for fiscal 2023\u00a0due to the recognition of an approximate\u00a0$3.1\u00a0million federal tax benefit. The Company reported earnings of\u00a0$0.12\u00a0per share, a significant improvement compared to loss of\u00a0$(0.02)\u00a0per share, in fiscal\u00a02023.\u00a0<\/p>\n

\n
\n Conference Call and Webcast<\/u>
\n <\/strong>\n <\/p>\n

Usio, Inc.’s management will host a conference call with a live webcast Wednesday,\u00a0March 26, 2025\u00a0at 4:30 pm Eastern time\u00a0to provide a business update.\u00a0To listen to the conference call, interested parties within the\u00a0U.S.\u00a0should call +1-844-883-3890. International callers should call\u00a0+\u00a01-412-317-9246. All callers should ask for the Usio conference call. The conference call will also be available through a live webcast, which can be accessed via the company\u2019s website at\u00a0www.usio.com\/invest<\/a>.<\/p>\n

A replay of the call will be available approximately one hour after the end of the call through\u00a0April 10, 2025. The replay can be accessed via the Company\u2019s website or by dialing\u00a0+1-877-344-7529 (U.S.) or +1-412-317-0088\u00a0(international). The replay conference playback code is 2388192.<\/p>\n

\n
\n About Usio, Inc.<\/u>
\n <\/strong>\n <\/p>\n

Usio, Inc. (Nasdaq: USIO), is a leading Fintech that operates a full stack of proprietary, cloud-based integrated payment and embedded financial solutions in a single ecosystem to a wide range of merchants, billers, banks, service bureaus and card issuers. The Company operates credit\/debit and ACH payment processing platforms, as well as a turn-key card issuing platform to deliver convenient, world-class payment solutions and services to their clients. The company, through its Usio Output Solutions division offers services relating to electronic bill presentment, document composition, document decomposition and printing and mailing services. The strength of the Company lies in its ability to provide tailored solutions for card issuance, payment acceptance, and bill payments as well as its unique technology in the prepaid sector. Usio is headquartered in San Antonio, Texas, and has a development office in Austin, Texas.<\/p>\n

Websites:\u00a0www.usio.com<\/a>,\u00a0www.payfacinabox.com<\/a>,\u00a0www.akimbocard.com<\/a>\u00a0and\u00a0www.usiooutput.com<\/a>.\u00a0Find us on Facebook\u00ae\u00a0and Twitter.<\/p>\n

\n
\n About Non-GAAP Financial Measures<\/u>
\n <\/strong>\n <\/p>\n

This press release\u00a0includes non-GAAP financial measures, EBITDA,\u00a0adjusted EBITDA, and adjusted EBITDA margins, as defined in Regulation G of the Securities and Exchange Act of 1934, as amended. The Company reports its financial results in compliance with GAAP, but believes that also discussing non-GAAP financial measures provides investors with financial measures it uses in the management of its business. The Company defines EBITDA as operating income (loss), before interest, taxes, depreciation and amortization of intangibles. The Company defines adjusted EBITDA as EBITDA, as defined above, plus non-cash stock option costs and certain non-recurring items, such as costs related to acquisitions.\u00a0These measures may not be comparable to similarly titled measures reported by other companies. Management uses EBITDA,\u00a0adjusted EBITDA, and adjusted EBITDA margins as indicators of the Company’s operating performance and ability to fund acquisitions, capital expenditures and other investments and, in the absence of refinancing options, to repay debt obligations.\u00a0<\/p>\n

In previous periods, the Company reported the non-GAAP financial measure of adjusted operating cash flows, which excluded certain items from operating cash flows to provide a measure of cash generated from its core operations. Beginning with the current reporting period, the Company is no longer presenting adjusted operating cash flows as a non-GAAP financial measure.\u00a0The decision to discontinue reporting adjusted operating cash flows is due to changes in the presentation of certain assets,\u00a0specifically the movement of\u00a0assets held for customers, into the financing activities section of our cash flow statement. As a result of this reclassification, the need for the adjusted operating cash flows measure is no longer required, as the adjustments previously made to exclude these amounts are not necessary.\u00a0<\/p>\n

Management believes EBITDA, adjusted EBITDA, and adjusted EBITDA margins are helpful to investors in evaluating the Company’s operating performance because non-cash costs and other items that management believes are not indicative of its results of operations are excluded.\u00a0<\/p>\n

EBITDA, adjusted EBITDA, and adjusted EBITDA margins should be considered in addition to, not as a substitute for, or superior to, financial measures calculated in accordance with GAAP.\u00a0They are not measurements of our financial performance under GAAP and should not be considered as alternatives to revenue, or net income,\u00a0as applicable, or any other performance measures derived in accordance with GAAP and may not be comparable to other similarly titled measures of other businesses. EBITDA, adjusted EBITDA, and adjusted EBITDA margins have limitations as analytical tools and you should not consider these Non-GAAP measures\u00a0in isolation or as a substitute for analysis of our operating results as reported under GAAP.<\/p>\n

\n 1<\/sup> See reconciliation of non-GAAP financial measures below.<\/p>\n

\n
\n FORWARD-LOOKING STATEMENTS DISCLAIMER<\/u>
\n <\/strong>\n <\/p>\n

Except for the historical information contained herein, the matters discussed in this release include forward-looking statements which are covered by safe harbors. Those statements include, but may not be limited to, all statements regarding management’s intent, belief and expectations, such as statements concerning our future and our operating and growth strategy. These forward-looking statements are identified by the use of words such as “believe,” “could,” “should,”\u00a0“intend,” “look forward,” “anticipate,” “schedule,\u201d and “expect” among others. Forward-looking statements in this press release are subject to certain risks and uncertainties inherent in the Company’s business that could cause actual results to vary, including such risks related to an economic downturn, the realization of opportunities from the IMS acquisition, the management of the Company’s growth, the loss of key resellers, the relationships with the Automated Clearinghouse network, bank sponsors, third-party card processing providers and merchants, the security of our software, hardware and information, the volatility of the stock price, the need to obtain additional financing, risks associated with new\u00a0legislation, and compliance with complex federal, state and local laws and regulations, and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission including its annual report on Form 10-K for the fiscal year ended December 31, 2024. One or more of these factors have affected, and in the future, could affect the Company\u2019s businesses and financial results in the future and could cause actual results to differ materially from plans and projections. The Company believes that the assumptions underlying the forward-looking statements included in this release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that the objectives and plans will be achieved. All forward-looking statements made in this release are based on information presently available to management. The Company assumes no obligation to update any forward-looking statements, except as required by law.<\/p>\n

\n Contact:<\/strong>\n <\/p>\n

Paul Manley
Senior Vice President, Investor Relations
Paul.Manley@usio.com<\/a>
<\/a><\/u>612-834-1804<\/p>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n USIO, INC.<\/strong>
\n
\n CONSOLIDATED BALANCE SHEETS<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nDecember 31, 2024<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nDecember 31, 2023<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n ASSETS<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cash and cash equivalents<\/td>\n\u00a0<\/td>\n$<\/td>\n8,056,891<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n7,155,687<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accounts receivable<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,053,639<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,564,138<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accounts receivable, tax credit<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,494,612<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
Settlement processing assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n47,104,006<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n44,899,603<\/td>\n\u00a0<\/td>\n<\/tr>\n
Prepaid card load assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n25,648,688<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n31,578,973<\/td>\n\u00a0<\/td>\n<\/tr>\n
Customer deposits<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,918,805<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,865,731<\/td>\n\u00a0<\/td>\n<\/tr>\n
Inventory<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n403,796<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n422,808<\/td>\n\u00a0<\/td>\n<\/tr>\n
Prepaid expenses and other<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n585,500<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n444,071<\/td>\n\u00a0<\/td>\n<\/tr>\n
Current assets before merchant reserves<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n90,265,937<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n91,931,011<\/td>\n\u00a0<\/td>\n<\/tr>\n
Merchant reserves<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,890,101<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,310,095<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total current assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n95,156,038<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n97,241,106<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Property and equipment, net<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,194,818<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,660,092<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other assets:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Intangibles, net<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n881,346<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,753,333<\/td>\n\u00a0<\/td>\n<\/tr>\n
Deferred tax asset<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,580,440<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,504,000<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating lease right-of-use assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,037,928<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,420,782<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n357,877<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n355,357<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total other assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,857,591<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,033,472<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Total Assets<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n107,208,447<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n106,934,670<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n LIABILITIES AND STOCKHOLDERS’ EQUITY<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Current Liabilities:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accounts payable<\/td>\n\u00a0<\/td>\n$<\/td>\n1,256,819<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,031,141<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accrued expenses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,366,925<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,801,278<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating lease liabilities, current portion<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n612,680<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n633,616<\/td>\n\u00a0<\/td>\n<\/tr>\n
Equipment loan, current portion<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n147,581<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n107,270<\/td>\n\u00a0<\/td>\n<\/tr>\n
Settlement processing obligations<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n47,104,006<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n44,899,603<\/td>\n\u00a0<\/td>\n<\/tr>\n
Prepaid card load liabilities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n25,648,688<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n31,578,973<\/td>\n\u00a0<\/td>\n<\/tr>\n
Customer deposits<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,918,805<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,865,731<\/td>\n\u00a0<\/td>\n<\/tr>\n
Current liabilities before merchant reserve obligations<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n80,055,504<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n83,917,612<\/td>\n\u00a0<\/td>\n<\/tr>\n
Merchant reserve obligations<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,890,101<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,310,095<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total current liabilities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n84,945,605<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n89,227,707<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-current liabilities:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Equipment loan, non-current portion<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n571,862<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n718,980<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating lease liabilities, non-current portion<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,534,017<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,919,144<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total liabilities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n88,051,484<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n91,865,831<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Commitments and Contingencies<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Stockholders’ Equity:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Preferred stock, $0.01 par value, 10,000,000 shares authorized; -0- shares issued and outstanding in 2024 and 2023<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
Common stock, $0.001 par value, 200,000,000 shares authorized; 29,902,415 and 28,671,606 issued and 26,609,651 and 26,332,523 outstanding in 2024 and 2023 (see Note 12)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n198,317<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n197,087<\/td>\n\u00a0<\/td>\n<\/tr>\n
Additional paid-in capital<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n99,676,457<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n97,479,830<\/td>\n\u00a0<\/td>\n<\/tr>\n
Treasury stock, at cost; 3,292,764 and 2,339,083 shares in 2024 and 2023 (see Note 12)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(5,770,592<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(4,362,150<\/td>\n)<\/td>\n<\/tr>\n
Deferred compensation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(6,914,563<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(6,907,775<\/td>\n)<\/td>\n<\/tr>\n
Accumulated deficit<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(68,032,656<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(71,338,153<\/td>\n)<\/td>\n<\/tr>\n
Total stockholders’ equity<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n19,156,963<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15,068,839<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total Liabilities and Stockholders’ Equity<\/td>\n\u00a0<\/td>\n$<\/td>\n107,208,447<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n106,934,670<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n USIO, INC.<\/strong>
\n
\n CONSOLIDATED STATEMENTS OF OPERATIONS<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nThree Months Ended (unaudited)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nTwelve Months Ended<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nDecember 31, 2024<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nDecember 31, 2023<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nDecember 31, 2024<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nDecember 31, 2023<\/td>\n\u00a0<\/td>\n<\/tr>\n
Revenues<\/td>\n\u00a0<\/td>\n$<\/td>\n20,560,088<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n20,130,642<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n82,931,840<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n84,066,245<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cost of services<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n15,495,310<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14,871,207<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n63,317,396<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n63,992,417<\/td>\n\u00a0<\/td>\n<\/tr>\n
Gross profit<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,064,778<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,259,435<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n19,614,444<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n20,073,828<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Selling, general and administrative:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Stock-based compensation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n564,300<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n545,711<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,093,406<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,222,969<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other expenses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,547,694<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4,195,580<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n16,728,081<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n16,216,690<\/td>\n\u00a0<\/td>\n<\/tr>\n
Depreciation and Amortization<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n555,581<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n521,932<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,263,302<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,081,533<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total operating expenses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,667,575<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,263,223<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n21,084,789<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n20,521,192<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating loss<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(602,797<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(3,788<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,470,345<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(447,364<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other income:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Interest income<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n116,558<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n103,337<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n464,746<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n219,986<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other income<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,476,272<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,737,685<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n50,000<\/td>\n\u00a0<\/td>\n<\/tr>\n
Interest expense<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(12,267<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(3,614<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(53,802<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(5,202<\/td>\n)<\/td>\n<\/tr>\n
Other income, net<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,580,563<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n99,723<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,148,629<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n264,784<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income (loss) before income taxes<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n977,766<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n95,935<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n678,284<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(182,580<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Federal income tax expense (benefit)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n109,613<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(3,076,440<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
State income tax expense<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n239,227<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n70,000<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n449,227<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n292,524<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income tax expense (benefit)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n348,840<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n70,000<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2,627,213<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n292,524<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Net Income (Loss)<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n628,926<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n25,935<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n3,305,497<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(475,104<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Earnings (Loss) Per Share<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Basic income (loss) per common share:<\/td>\n\u00a0<\/td>\n$<\/td>\n0.02<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.00<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.12<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.02<\/td>\n)<\/td>\n<\/tr>\n
Diluted income (loss) per common share:<\/td>\n\u00a0<\/td>\n$<\/td>\n0.02<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.00<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.12<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.02<\/td>\n)<\/td>\n<\/tr>\n
Weighted average common shares outstanding<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Basic<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n27,162,675<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n26,503,251<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n26,852,129<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n26,490,868<\/td>\n\u00a0<\/td>\n<\/tr>\n
Diluted<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n27,162,675<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n26,503,251<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n26,852,129<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n26,490,868<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n USIO, INC.<\/strong>
\n
\n CONSOLIDATED STATEMENTS OF CASH FLOWS<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nDecember 31, 2024<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nDecember 31, 2023<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Operating Activities<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income (loss)<\/td>\n\u00a0<\/td>\n$<\/td>\n3,305,497<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(475,104<\/td>\n)<\/td>\n<\/tr>\n
Adjustments to reconcile net income (loss) to net cash provided (used) by operating activities:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Depreciation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,391,315<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,209,506<\/td>\n\u00a0<\/td>\n<\/tr>\n
Amortization<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n871,987<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n872,027<\/td>\n\u00a0<\/td>\n<\/tr>\n
Loss on disposal of equipment<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n18,340<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
Deferred federal income tax<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(3,076,440<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
Employee stock-based compensation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,093,406<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,190,369<\/td>\n\u00a0<\/td>\n<\/tr>\n
Vendor stock-based compensation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n32,600<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-cash revenue from return of treasury stock<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(156,162<\/td>\n)<\/td>\n<\/tr>\n
Changes in operating assets and liabilities:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accounts receivable<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n510,499<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,192,498<\/td>\n)<\/td>\n<\/tr>\n
Accounts receivable, tax credit<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,494,612<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
Prepaid expenses and other<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(141,429<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,318<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating lease right-to-use assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(617,146<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n374,701<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other assets<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2,520<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
Inventory<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n19,012<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n84,547<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accounts payable and accrued expenses<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(208,675<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n252,689<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating lease liabilities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n593,937<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(403,506<\/td>\n)<\/td>\n<\/tr>\n
Merchant reserves<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(419,994<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n400,594<\/td>\n\u00a0<\/td>\n<\/tr>\n
Customer deposits<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n53,074<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n311,609<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net cash provided by operating activities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,896,251<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,507,690<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Investing Activities<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n<\/tr>\n
Purchases of property and equipment<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(991,881<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(834,964<\/td>\n)<\/td>\n<\/tr>\n
Sale of equipment<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n47,500<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net cash used by investing activities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(944,381<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(834,964<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Financing Activities<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n<\/tr>\n
Payments on equipment loan<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(106,807<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(56,992<\/td>\n)<\/td>\n<\/tr>\n
Proceeds from issuance of common stock<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n97,663<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
Purchases of treasury stock<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,408,442<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(456,961<\/td>\n)<\/td>\n<\/tr>\n
Assets held for customers<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(3,725,882<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,570,747<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net cash provided (used) by financing activities<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(5,143,468<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,056,794<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Change in cash, cash equivalents, customer deposits and merchant reserves<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(3,191,598<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,729,520<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cash, cash equivalents, customer deposits and merchant reserves, beginning of year<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n90,810,089<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n82,080,569<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cash, Cash Equivalents, Settlement Processing Assets, Prepaid Card Load Assets, Customer Deposits and Merchant Reserves, End of Year<\/td>\n\u00a0<\/td>\n$<\/td>\n87,618,491<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n90,810,089<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Supplemental disclosures of cash flow information<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n \u00a0<\/strong>\n <\/td>\n<\/tr>\n
Cash paid during the period for:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Interest<\/td>\n\u00a0<\/td>\n$<\/td>\n53,802<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n5,202<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income taxes<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n290,144<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n116,204<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-cash operating activities:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Right of use assets obtained in exchange for operating lease liabilities<\/td>\n\u00a0<\/td>\n$<\/td>\n1,156,543<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n–<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-cash investing and financing activities:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Issuance of deferred stock compensation<\/td>\n\u00a0<\/td>\n$<\/td>\n1,497,300<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,650,505<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-cash transaction for acquisition of equipment in exchange for note payable<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n811,819<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n USIO, INC.<\/strong>
\n
\n STATEMENT OF CHANGES IN STOCKHOLDERS’ EQUITY<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nCommon Stock<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nAdditional Paid- In<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nTreasury<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nDeferred<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nAccumulated<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nTotal Stockholders’<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nShares<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nAmount<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nCapital<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nStock<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nCompensation<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nDeficit<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nEquity<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Balance at December 31, 2022<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 27,044,900<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n\n 195,471<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n\n 94,048,603<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n\n (3,749,027<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n\n (5,697,900<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n\n (70,863,049<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n\n 13,934,098<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Issuance of common stock under equity incentive plan<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,731,506<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,731<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,619,315<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2,650,505<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n970,541<\/td>\n\u00a0<\/td>\n<\/tr>\n
Reversal of deferred compensation amortization that did not vest<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(115,000<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(115<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(188,088<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n103,091<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(85,112<\/td>\n)<\/td>\n<\/tr>\n
Deferred compensation amortization<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,337,539<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,337,539<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-cash return of treasury stock<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(156,162<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(156,162<\/td>\n)<\/td>\n<\/tr>\n
Purchase of treasury stock<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(456,961<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(456,961<\/td>\n)<\/td>\n<\/tr>\n
Net loss<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(475,104<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(475,104<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Balance at December 31, 2023<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 28,661,406<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n\n 197,087<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n\n 97,479,830<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n\n (4,362,150<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n\n (6,907,775<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n\n (71,338,153<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n\n 15,068,839<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Issuance of common stock under equity incentive plan<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,189,050<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,178<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,130,336<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,497,300<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n634,214<\/td>\n\u00a0<\/td>\n<\/tr>\n
Issuance of common stock under employee stock purchase plan<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n66,959<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n67<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n97,596<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n97,663<\/td>\n\u00a0<\/td>\n<\/tr>\n
Reversal of deferred compensation amortization that did not vest<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(15,000<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(15<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(31,305<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n31,320<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
Deferred compensation amortization<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,459,192<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,459,192<\/td>\n\u00a0<\/td>\n<\/tr>\n
Purchase of treasury stock<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,408,442<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,408,442<\/td>\n)<\/td>\n<\/tr>\n
Net income<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,305,497<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,305,497<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Balance at December 31, 2024<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 29,902,415<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n\n 198,317<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n\n 99,676,457<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n\n (5,770,592<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n\n (6,914,563<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n\n (68,032,656<\/strong>\n <\/td>\n\n )<\/strong>\n <\/td>\n\u00a0<\/td>\n$<\/td>\n\n 19,156,963<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nThree Months Ended (unaudited)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nTwelve Months Ended<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\nDecember 31, 2024<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nDecember 31, 2023<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nDecember 31, 2024<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\nDecember 31, 2023<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Reconciliation from Operating Income\/(Loss) to Adjusted EBITDA:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating income (loss)<\/td>\n\u00a0<\/td>\n$<\/td>\n(602,797<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n(3,788<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n(1,470,345<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n(447,364<\/td>\n)<\/td>\n<\/tr>\n
Depreciation and amortization<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n555,581<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n521,932<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,263,302<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,081,533<\/td>\n\u00a0<\/td>\n<\/tr>\n
EBITDA<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(47,216<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n518,144<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n792,957<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,634,169<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-cash stock-based compensation expense, net<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n564,300<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n545,711<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,093,406<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,222,969<\/td>\n\u00a0<\/td>\n<\/tr>\n
Adjusted EBITDA<\/td>\n\u00a0<\/td>\n$<\/td>\n517,084<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,063,855<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,886,363<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n3,857,138<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Calculation of Adjusted EBITDA margins:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Revenues<\/td>\n\u00a0<\/td>\n$<\/td>\n20,560,088<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n20,130,642<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n82,931,840<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n84,066,245<\/td>\n\u00a0<\/td>\n<\/tr>\n
Adjusted EBITDA<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n517,084<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,063,855<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,886,363<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,857,138<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Adjusted EBITDA margins<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.5<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5.3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3.5<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n4.6<\/td>\n%<\/td>\n<\/tr>\n<\/table>\n

\"\"
\n
\n \"\"\n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Full Year Revenues up in each of ACH & Complementary Services, Card and Output Solutions Business Units Record Full Year 2024 Dollar Processing Volume of $7.1\u00a0Billion, a 33% Increase Compared to Fiscal 2023; Transactions Processed also up a Strong\u00a026% Year-over-Year Cash Position Increases to Record High of $8.1 Million SAN ANTONIO, March 26, 2025 (GLOBE NEWSWIRE) — Usio, Inc: (Nasdaq: USIO), a leading FinTech company\u00a0that operates a full stack of integrated, cloud-based electronic payment and embedded financial solutions,\u00a0today announced financial results for the fourth quarter and year ended\u00a0December 31, 2024. Louis Hoch, Chairman and Chief Executive Officer of Usio, said, \u201cWe are delivering on our commitments as profitability improved, cash flow was strong, and revenue grew in each of our … <\/p>\n

Continue reading “Usio Announces Improved Profitability; Fourth Quarter GAAP Earnings of $0.02\u00a0per share and Full Year GAAP Earnings of\u00a0$0.12 per share”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-830198","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nUsio Announces Improved Profitability; Fourth Quarter GAAP Earnings of $0.02\u00a0per share and Full Year GAAP Earnings of\u00a0$0.12 per share - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/usio-announces-improved-profitability-fourth-quarter-gaap-earnings-of-0-02-per-share-and-full-year-gaap-earnings-of-0-12-per-share\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Usio Announces Improved Profitability; Fourth Quarter GAAP Earnings of $0.02\u00a0per share and Full Year GAAP Earnings of\u00a0$0.12 per share - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Full Year Revenues up in each of ACH & Complementary Services, Card and Output Solutions Business Units Record Full Year 2024 Dollar Processing Volume of $7.1\u00a0Billion, a 33% Increase Compared to Fiscal 2023; Transactions Processed also up a Strong\u00a026% Year-over-Year Cash Position Increases to Record High of $8.1 Million SAN ANTONIO, March 26, 2025 (GLOBE NEWSWIRE) — Usio, Inc: (Nasdaq: USIO), a leading FinTech company\u00a0that operates a full stack of integrated, cloud-based electronic payment and embedded financial solutions,\u00a0today announced financial results for the fourth quarter and year ended\u00a0December 31, 2024. Louis Hoch, Chairman and Chief Executive Officer of Usio, said, \u201cWe are delivering on our commitments as profitability improved, cash flow was strong, and revenue grew in each of our … Continue reading "Usio Announces Improved Profitability; Fourth Quarter GAAP Earnings of $0.02\u00a0per share and Full Year GAAP Earnings of\u00a0$0.12 per share"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/usio-announces-improved-profitability-fourth-quarter-gaap-earnings-of-0-02-per-share-and-full-year-gaap-earnings-of-0-12-per-share\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2025-03-26T20:09:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTQxMTUyMSM2ODM1NzA2IzIwMTk2Mjk=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"16 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/usio-announces-improved-profitability-fourth-quarter-gaap-earnings-of-0-02-per-share-and-full-year-gaap-earnings-of-0-12-per-share\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/usio-announces-improved-profitability-fourth-quarter-gaap-earnings-of-0-02-per-share-and-full-year-gaap-earnings-of-0-12-per-share\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Usio Announces Improved Profitability; 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Fourth Quarter GAAP Earnings of $0.02\u00a0per share and Full Year GAAP Earnings of\u00a0$0.12 per share - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/usio-announces-improved-profitability-fourth-quarter-gaap-earnings-of-0-02-per-share-and-full-year-gaap-earnings-of-0-12-per-share\/","og_locale":"en_US","og_type":"article","og_title":"Usio Announces Improved Profitability; Fourth Quarter GAAP Earnings of $0.02\u00a0per share and Full Year GAAP Earnings of\u00a0$0.12 per share - Market Newsdesk","og_description":"Full Year Revenues up in each of ACH & Complementary Services, Card and Output Solutions Business Units Record Full Year 2024 Dollar Processing Volume of $7.1\u00a0Billion, a 33% Increase Compared to Fiscal 2023; Transactions Processed also up a Strong\u00a026% Year-over-Year Cash Position Increases to Record High of $8.1 Million SAN ANTONIO, March 26, 2025 (GLOBE NEWSWIRE) — Usio, Inc: (Nasdaq: USIO), a leading FinTech company\u00a0that operates a full stack of integrated, cloud-based electronic payment and embedded financial solutions,\u00a0today announced financial results for the fourth quarter and year ended\u00a0December 31, 2024. 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