By Adriano Marchese


Voyager Digital Ltd. said it expects total revenue in its third quarter to have risen by as much as 74% as it continued to add new accounts to its platform.

The Toronto-listed cryptocurrency platform said preliminary total revenue for the period ended March 31 is estimated to be between $100 million and $105 million, up from $60.4 million in the third quarter of the prior year.

Total verified users grew to around 3.5 million as of March 31, up from 3.2 million at the end of December, and from 1 million at the end of March of last year.

The company said it has added around 115,000 funded accounts, slightly over 10% growth from Dec. 31.

However, the company noted that net new deposits have fallen, and that it expects them to reach $395 million compared with $1.04 billion at the end of March of last year.

"In 2021 we scaled our technology to accommodate rapid growth as mainstream crypto adoption accelerated and now in 2022 we have begun to deliver on the expansion of our product suite and will continue to roll out new and enhanced products and services as well as geographic expansion," Co-Founder and Chief Executive Steve Ehrlich said.

The company will release its third-quarter results on or around May 16, it said.


Write to Adriano Marchese at adriano.marchese@wsj.com


(END) Dow Jones Newswires

04-07-22 0820ET