Usio, Inc. (NASDAQ:USIO) Q4 2022 Results Conference Call March 8, 2023 4:30 PM ET

Company Participants

Paul Manley - SVP, IR

Louis Hoch - Chairman and CEO

Tom Jewell - SVP and CFO

Greg Carter - EVP, Payment Acceptance

Houston Frost - SVP, Prepaid Services

Conference Call Participants

Stephen Wagner - Integrity Wealth Advisors

Michael Diana - Maxim Group

Gary Prestopino - Barrington Research

Operator

Good afternoon, and welcome to the Usio Earnings Conference Call for the Fourth Quarter and Fiscal Ended December 31, 2022. All participants will be in a listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [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 end of the call through March 22, 2023.

I would now like to turn the conference over to Paul Manley, Senior Vice President, Investor Relations. Please go ahead, sir.

Paul Manley

Thank you and thank you everyone for joining our call today. Welcome to Usio’s fourth quarter and fiscal 2022 conference call. The earnings release, which we issued today after the market close, 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 and 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. Management will provide prepared remarks, then we’ll have a question-and-answer session.

But let me lead off with the highlights from this afternoon’s release. We reported both, record quarterly and full year revenue for the period ended December 31, 2022. Revenue was up 7% for the quarter, our 10th consecutive quarter of growth and up 12% for the year, which is our sixth consecutive year of record revenue. For the quarter, we reported $1 million in adjusted EBITDA, though EBITDA was down for the year primarily due to a shift in our revenue mix driven essentially by the decrease of our highly profitable ACH business.