Voyager Digital Q3 earnings reflect user growth, but transaction revenue slid

Cryptocurrency trading platform Voyager Digital's (OTCQX:VYGVF) Q3 earnings on Monday were mixed as user growth and funded accounts grew over the year-ago period, though its transaction revenue took a hit. Q3 loss of $0.36 fell short of the average analyst estimate of -$0.12 and improved from -$0.49 in Q3 of last year. Still, total revenue of $102.7M in Q3 topped the consensus of $100.17M and jumped from $60.44M in Q3 2021. Looking forward, "with the recent changes to our rewards model and actively addressing our cost structure to ensure an efficient use of capital, we are working toward a goal of returning to positive operating income, after adding back stock-based compensation, in early calendar 2023," said Co-founder and CEO Steve Ehrlich. Fees from crypto assets loaned $31.03M in Q3 surged from $6.7M in Q3 a year ago, offset partially by transaction revenue of $33.4M in Q3 vs. $53.74M in Q3 2021.