USIO — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-12

• We reported Adjusted EBITDA of $1.9 million for the six months ended June 30, 2026, as compared to Adjusted EBITDA of $1.2 million for the same period in the prior year. The increase in Adjusted EBITDA in the 2026 period was attributable to increased gross profit in the period, driven by a 17% incre…

• The following tables set forth reconciliations of Operating Income (Loss) to EBITDA; EBITDA to Adjusted EBITDA; and Revenues to Adjusted EBITDA margins for the three and six months ended June 30, 2026 and 2025.

• Output Solutions revenue was up 22% for the quarter ended June 30, 2026 compared to the same period of 2025, due to strong organic growth, and net new customers. Further leverage in revenue driven by new customer acquisition was related to the implementation of our new printer in the second quarter …

• Consolidated revenues for the six months ended June 30, 2026 were up 17%, at $49.1 million, as compared to $42.0 million for the six months ended June 30, 2025, due to the 23% growth in ACH and complementary services revenue, 25% growth in credit card revenue, and 20% growth in Output Solutions reve…

• ACH and complementary services revenue growth of 23% was primarily attributable to an increase in ACH check dollar volume of 29%, an increase in transactions of 34%, and an increase in returned check transactions of 44%, in each case, for the six months ended June 30, 2026 compared to the same perio…

Text removed vs the prior filing · source: 10-Q · 2026-05-13

• The following tables set forth reconciliations of Operating (Loss) to EBITDA; EBITDA to Adjusted EBITDA; and Revenues to Adjusted EBITDA margins for the three months ended March 31, 2026 and 2025.

• Output Solutions revenue was up 19% for the quarter ended March 31, 2026 compared to the same period of 2025, due to strong organic growth, and net new customers. Compounding this was the presence of increased business related to the printing and mailing of tax statements and voter registration card…

• Further declines in revenues were attributable to lower interest revenue, associated with lower interest rates and interest bearing deposits versus the prior year period. For more information, see "- Summary of Results."

• Cost of services increased by $3.1 million, or 18%, to $20.3 million for the quarter ended March 31, 2026, as compared to $17.2 million for the same period in the prior year, due to increased revenues of 16%. Revenue contribution from lower margin business lines such as PINless debit and RCC within …

• Stock-based compensation expenses were $0.3 million for the quarter ended March 31, 2026 as compared to $0.4 million for the quarter ended March 31, 2025, with the decrease from the prior year quarter due to completed amortization of previously issued stock based awards.

Text added vs the prior filing · source: 10-Q · 2026-08-12

• There was no change in our internal control over financial reporting that occurred during the quarter ended June 30, 2026 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

Text removed vs the prior filing · source: 10-Q · 2026-05-13

• Further, no evaluation of controls can provide absolute assurance that misstatements due to error or fraud will not occur or that all control issues and instances of fraud, if any, within the Company have been detected.

• There was no change in our internal control over financial reporting that occurred during the quarter ended March 31, 2026 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.