Usio, Inc.

Listed Company

USIOCIK 0001088034NasdaqNon-AcceleratedSmaller ReportingFunctions Related To Depository Banking, NecNevadaFY ends Dec 31

Period

FY 2025

Revenue

$85.39M

Net Income

$-2.51M

Total Assets

$134.89M

Equity

$17.91M

Shares Out

27.75M

Op. Cash Flow

$1.51M

Business

Usio, Inc. is a cloud-based fintech payment processor that delivers a full-stack ecosystem to facilitate payment acceptance and funds disbursement. It offers ACH and card-based processing, payment facilitation (PayFac), prepaid and incentive card programs, real-time PINless debit and RTP capabilities, electronic bill presentment, and printing and mailing services. Its operations are organized around payment acceptance, card-based services, payment facilitation, prepaid/incentive card services and electronic/paper billing business units. Usio serves merchants and businesses across the United States through direct sales, non-exclusive resellers, API integrations and bank sponsorships.

Summary from filing dated 2025-03-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	85	83	84	69	62
Cost of services	66	63	64	55	46
Gross profit	20	20	20	15	16
Employee stock-based compensation	2	2	2	2	1
Other expenses	18	17	16	15	12
Depreciation and amortization	2	2	2	3	3
Total operating expenses	22	21	21	20	16
Operating (loss)	−2	−1	−447,364	−5	−155,381
Interest income	407,160	464,746	219,986	15,237	7,643
Other income	5,000	2	50,000	0	—
Interest expense	−52,083	−53,802	−5,202	—	—
Other income, net	360,077	2	264,784	11,186	3,608
Income (loss) before income taxes	−2	678,284	−182,580	−5	−151,773
Federal income tax expense (benefit)	54,212	−3	0	0	—
State income tax expense	458,599	449,227	292,524	280,000	—
Expense (benefit) for income taxes	512,811	−3	292,524	280,000	169,861
Net Income (loss)	−3	3	−475,104	−5	−321,634
Basic income (loss) per common share: (in dollars per share)	−0.09	0.12	−0.02	−0.27	−0.02
Diluted income (loss) per common share: (in dollars per share)	−0.09	0.12	−0.02	−0.27	−0.02
Basic (in shares)	27	27	26	20	20
Diluted (in shares)	27	27	26	20	20

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	7	8	7	6	7
Settlement processing assets	74	47	45	50	64
Prepaid card load assets	28	26	32	20	37
Customer deposits	2	2	2	2	1
Accounts receivable, net	5	5	6	4	5
Accounts receivable, tax credit	0	1	0	—	—
Inventory	461,675	403,796	422,808	507,355	434,532
Prepaid expenses and other	1	585,500	444,071	450,389	426,963
Merchant reserves	5	5	5	5	6
Total current assets	123	95	97	87	121
Property and equipment, net	4	3	4	3	4
Intangibles, net	9,759	881,346	2	3	4
Deferred tax asset, net	5	5	2	2	2
Operating lease right-of-use assets	2	3	2	3	3
Other assets	362,949	357,877	355,357	355,357	345,357
Total other assets	7	9	6	7	9
Total Assets	135	107	107	98	134
Accounts payable	880,590	1	1	858,622	1
Accrued expenses	3	3	4	4	2
Operating lease liabilities, current portion	639,805	612,680	633,616	617,319	504,027
Equipment loan, current portion	289,317	147,581	107,270	56,429	54,760
Settlement processing obligations	74	47	45	50	64
Prepaid card load obligations	28	26	32	20	37
Customer deposits	2	2	2	2	1
Merchant reserve obligations	5	5	5	5	6
Total current liabilities	114	85	89	82	112
Equipment loan, non-current portion	1	571,862	718,980	14,994	71,434
Operating lease liabilities, non-current portion	2	3	2	2	2
Total liabilities	117	88	92	84	115
Commitments and contingencies (Note 15)	—	—	—	—	—
Preferred stock, $0.01 par value, 10,000,000 shares authorized; -0- shares issued and outstanding in 2025 and 2024	0	0	0	0	0
Common stock, $0.001 par value, 200,000,000 shares authorized; 31,562,178 and 29,902,415 issued and 27,729,704 and 26,609,651 outstanding in 2025 and 2024, respectively	31,562	198,317	197,087	195,471	195,235
Additional paid-in capital	102	100	97	94	93
Treasury stock, at cost; 3,832,474 and 3,292,764 shares in 2025 and 2024, respectively	−7	−6	−4	−4	—
Deferred compensation	−7	−7	−7	−6	−7
Accumulated deficit	−71	−68	−71	−71	−65
Total stockholders' equity	18	19	15	14	19
Total Liabilities and Stockholders' Equity	135	107	107	98	134

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	2	2	—	—	—
Loss on disposal of equipment	0	18,340	0	—	—
Deferred federal income tax expense (benefit)	54,212	−3	0	0	−110,000
Allowance for expected credit losses	80,132	5,000	—	—	—
Reserve for processing losses	−112,179	−70,588	—	—	—
Accounts receivable	−301,079	505,499	−1	607,853	−2
Accounts receivable, tax credit	1	−1	0	—	—
Prepaid expenses and other	−773,882	−141,429	6,318	−23,426	−125,208
Operating lease right-of-use assets	614,697	−617,146	374,701	6,630	−130,847
Other assets	−5,072	−2,520	0	−10,000	22,721
Inventory	−57,879	19,012	84,547	−72,823	−258,066
Accounts payable and accrued expenses	−304,530	−138,087	252,689	853,965	1
Operating lease liabilities	−620,909	593,937	−403,506	−24,052	137,522
Merchant reserves	−94,564	−419,994	400,594	−1	−2
Customer deposits	362,415	53,074	311,609	189,929	58,897
Net cash provided by operating activities	2	3	4	−17	30
Purchases of property and equipment	−435,014	−195,877	−834,964	−812,242	−1
Capitalized labor for internal use software	−1	−796,004	—	—	—
Sale of equipment	0	47,500	0	—	—
Net cash used by investing activities	−2	−944,381	−834,964	−812,242	−1
Payments on equipment loan	−147,157	−106,807	−56,992	−54,771	−39,802
Proceeds from equipment loan	791,742	0	—	—	—
Proceeds from issuance of common stock	90,645	97,663	0	—	0
Purchases of treasury stock	−1	−1	−456,961	−1	−238,737
Assets held for customers	29	−4	7	—	—
Net cash provided (used) by financing activities	29	−5	6	−1	887,457
Change in cash, cash equivalents, customer deposits and merchant reserves	29	−3	9	−19	29
Interest	52,083	53,802	5,202	4,051	4,314
Income taxes	0	290,144	116,204	269,500	116,204
Right of use assets obtained in exchange for operating lease liabilities	0	1	0	—	—
Issuance of deferred stock compensation	1	1	3	166,229	2
Issuance of common stock for PostCredit acquisition	500,000	0	—	—	—

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