Cryptocurrency platform Voyager Digital Ltd today announced key financial metrics for the fiscal 2022 third quarter ended March 31, 2022.

“We performed strongly amidst the challenging macroeconomic and lower trading volumes seen across our industry,” said Steve Ehrlich, CEO and Co-founder of Voyager. “Despite market conditions, we continued to deliver customer account and net deposit growth, while continuing to build upon our revenue diversification strategy.”

Revenue for the quarter is $102.7 million, up 70% compared to $60.4 million for the quarter ended March 31, 2021.

Operating loss is $43.0 million for the quarter vs an income of $29.8 million for the quarter ended March 31, 2021. Operating loss/income includes stock-based compensation of $5.4 million for the quarter vs $5.3 million for the quarter ended March 31, 2021, respectively.

Total verified users on the platform stand at 3.5 million, up 9% from 3.2 million at the quarter ended December 31, 2021.

Total funded accounts reached 1,190,000 as of March 31, 2022, up 11% from 1,074,000 at the quarter ended December 31, 2021.

Total Assets on Platform decreased to $5.8 billion from $6.0 billion at December 31, 2021.

The company today announced Ashwin Prithipaul as Chief Financial Officer. He comes to Voyager with deep financial leadership experience, including as the former CFO of Galaxy Digital. In conjunction with this, Evan Psaropoulos is moving into a new role as Chief Commercial Officer to build out the Company’s revenue diversification as well as partner with the new CFO in creating cost efficiencies.

“In closing, we strongly believe we are in the early stages of global crypto adoption. Voyager remains very well capitalized to strategically grow our business and serve consumers amidst a rapidly evolving crypto landscape,” Ehrlich added.