Voyager Digital Ltd (OTC: VYGVF + Free Alerts ) announced results for the third quarter ended March 31 on Tuesday. The crypto-asset platform’s quarterly revenues surged 1578% sequentially, quarter-over-quarter.
What Happened: Total revenue for Q3 rose to $60.4 million, a 16x jump over $3.6 million recorded in the preceding quarter.
Operating profit came in at $30 million with an operating margin of 50%. This is the first time Voyager Digital has recorded profit in a quarter.
“Our focus on a wide range of coins has contributed to a long-term economic model with fiscal third-quarter operating margins increasing to 50%. Given our success to date, we anticipate that our operating margin should continue to scale in future periods,” said Steve Ehrlich, CEO of Voyager and its co-founder in a statement.