Usio, Inc. USIO) Q2 2023 Results Conference Call August 14, 2023 4:30 PM ET
Company Participants
Paul Manley - Senior Vice President of Investor Relations
Louis Hoch - Chairman, Chief Executive Officer
Tom Jewell - Senior Vice President, Chief Financial Officer
Greg Carter - Executive Vice President of Payment and Acceptance
Houston Frost - Senior Vice President of Prepaid Services
Conference Call Participants
Scott Buck - H.C. Wainwright
Michael Diana - Maxim Group
Jon Hickman - Ladenburg
Gary Prestopino - Barrington Research
Operator
Good afternoon, everyone, and welcome to the Usio Earnings Conference Call for the Second Quarter of Fiscal 2023. All participants will be in a listen-only mode. [Operator Instructions] All participants on this call are advised that the audio of the conference call is being broadcast live over the Internet and is also being recorded for playback purposes. A replay will be available shortly after the call through August 28, 2023.
I would now like to turn the conference over to Paul Manley, Senior Vice President, Investor Relations. Please go ahead.
Paul Manley
Thank you, and thank you, everyone, for joining our call today. Welcome to Usio second quarter fiscal 2023 conference call. The earnings release, which we issued today after the market closed is available on our website at usio.com under the Investor Relations tab.
On this call today are Louis Hoch, our Chairman and CEO; Tom Jewell, Senior Vice President and Chief Financial Officer; Greg Carter, Executive Vice President of Payment Acceptance and Houston Frost, Senior Vice President of Prepaid Services.
Let me remind our listeners that certain statements made during the call today constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities and Litigation Act of 1995 as amended. Such forward-looking statements are subject to both known and unknown risks and uncertainties that could cause actual results to differ materially from such statements. These risks and uncertainties are described in our earnings press release and in our filings with the SEC.
The forward-looking statements made today are as of the date of this call, and we do not undertake any obligation to update these forward-looking statements. During today's call, we will refer to non-GAAP financial measures such as adjusted EBITDA. Our earnings release includes a reconciliation of adjusted EBITDA to GAAP operating income. Management will provide prepared remarks then we'll have a question-and-answer session.
But let me start with some highlights from this afternoon's release. I am pleased to report another quarter of record results with second quarter revenue up 31%, accelerating significantly from the 18% growth rate reported in the first quarter and our 12th consecutive quarter of revenue growth. And for the third consecutive quarter, we reported over $1 million of positive adjusted EBITDA, which was once again up dramatically from the year ago quarter.