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what it is
Usio helps businesses move money by card, bank transfer, and billing tools, then adds printing and mailing for the unkillable paper economy.
how it gets paid
FY2025 revenue was $85.4M (up 3% YoY). Credit card revenue was $30.0M (largest line); ACH and complementary services grew 33% to $22.2M—per the Mar 18, 2026 results tables.
what just happened
Q4 2025 revenue was $22.2M (up 8% YoY); net loss was $(0.05) per share vs $0.02 in Q4 2024 (prior year included ~$1.5M employee retention tax credit recognition).
At a glance
C++ balance sheet — some cracks in the foundation
35/100 earnings predictability — expect surprises
FY2025 $(0.09) diluted EPS (net loss $2.5M)
$8.4B FY2025 processing volume — record, +19% YoY
2026 guidance: 10–12% revenue growth (company)
xvary composite: 41/100 — below average
What they do
Usio helps businesses move money by card, bank transfer, and billing tools, then adds printing and mailing for the unkillable paper economy.
Usio wins by being annoying to replace. It serves card issuing, ACH, bill pay, and output services under one roof for 107 employees’ worth of company, which means your software, workflows, and customer notices can all sit with one vendor. Switching costs (pain of ripping out a vendor) → replacing embedded payment rails and billing workflows → so what: customers may tolerate a lot before they volunteer for that project.
How they make money
$85.4M
FY2025 revenue · +3% vs 2024 ($82.9M)
Credit card revenue
$30.0M
+3%
ACH & complementary services
$22.2M
+33%
Output Solutions
$20.6M
0%
Prepaid card services
$11.0M
−22%
The products that matter
payment processing platform
Integrated Payment Stack
$85.4M revenue · $8.4B FY2025 volume
Full-year revenue grew 3% while processing volume grew 19% and transactions processed grew 30%—scale is showing up in throughput before it fully shows up in net income.
volume + tx growth
client payment management
Customer Portal
card + ach + debit
It sits inside the payment stack that handled more than $8.4B last year. It matters if it helps merchants treat Usio as software, not just a commodity processor.
retention layer
prepaid & issuing mix
Prepaid / Issuing
$11.0M prepaid revenue · down 22% YoY
Shrink here dragged gross margin as higher-margin prepaid declined and lower-margin complementary ACH lines grew—exactly what management called out in the Q4 discussion.
margin headwind
Key numbers
$85.4M
FY2025 revenue
Up 3% YoY; stack that against ~$33M market cap for a loss-making fintech—cheap on sales, expensive if losses persist.
$8.4B
FY2025 volume
Record dollars processed, +19% YoY—the operating story management wants investors to track alongside GAAP EPS.
23.1%
FY2025 gross margin
Down modestly vs 23.7% in 2024—mix shift (prepaid down, complementary ACH up) plus lower interest revenues.
$1.3M
FY2025 Adj. EBITDA
Still positive but down from $2.9M in 2024—SG&A investment is the bridge between growth and GAAP net income.
Financial health
C++
strength
- balance sheet grade C++ — below average — limited financial resources
- risk rank 3 — safer than 50% of stocks
- price stability 10 / 100
- long-term debt $3M (7% of capital)
C++ — below average. watch for debt servicing and cash burn.
Total return vs. market
Return history isn't available for USIO right now.
source: institutional data · return history unavailable
What just happened
Q4 / FY 2025
Q4 2025 revenue $22.2M (+8% YoY); diluted EPS $(0.05). FY2025 EPS $(0.09) on $85.4M revenue.
Q4 gross margin was 21.9% vs 24.6% in Q4 2024. FY2025 Adjusted EBITDA was $1.3M (down from $2.9M). Management guides 10–12% revenue growth in 2026 with continued positive Adjusted EBITDA—Mar 18, 2026 Globe Newswire release.
$22.2M
Q4 revenue
$(0.05)
Q4 diluted EPS
21.9%
Q4 gross margin
the number that mattered
Mix-driven gross margin compression plus higher SG&A turned Q4 Adjusted EBITDA slightly negative ($0.2M)—volume growth is not yet converting cleanly to the bottom line.
P0: Usio Q4/FY 2025 results (Mar 18, 2026) — Globe Newswire
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What could go wrong
the #1 risk is merchant pricing pressure in payment processing. Usio gets most of its revenue from the part of payments where scale matters most and differentiation matters least.
med
Payment Processing carries the whole story
Credit card plus ACH lines dominate the P&L ($30.0M + $22.2M in FY2025). When the two largest buckets face mix pressure or client attrition, gross margin and EBITDA feel it fast.
A 10% drop in that segment would cut about $6.6M of revenue. That is a big number for a company with a $33M market cap.
med
High volume has not become high profit
Usio processed more than $8.4B in payments, yet gross margin is 23.5%. That gap is the whole investment problem: lots of throughput, limited pricing power.
If margins slip from here, the low 0.46x sales multiple stops looking cheap and starts looking accurate.
med
Quarterly earnings are still fragile
Q3 2025 EPS was $0.01 versus a $0.03 estimate. When the earnings base is this small, modest operating-cost pressure can flip the narrative fast.
You do not need a recession or a scandal here. Another light quarter can do the job on its own.
With roughly $66M of revenue tied to processing and gross margin at 23.5%, Usio does not have much room for a pricing mistake or a weak quarter.
source: institutional data · regulatory filings · risk analysis
Pay attention to
earnings
Q4 and full-year results on march 18, 2026
This is the next proof point. After a $0.01 quarter versus a $0.03 estimate, you want cleaner execution, not another near-miss.
margin
gross margin needs to hold above 23.5%
At this scale, margin drift matters more than headline payment volume. If margin slips, the cheap multiple gets harder to defend.
growth
watch whether $8.4B of volume becomes faster revenue growth
The business grew only 0.4% from last year. That is the gap between an interesting payments platform and a value trap.
ownership
keep an eye on insider selling
A 10% owner sold 18,860 shares worth about $24,343 in March 2026. On a $33M company, even small sales can change the mood.
Analyst rankings
earnings predictability
35 / 100
in human-speak, the business is hard to model quarter to quarter.
risk rank
3
Middle of the pack. Not the riskiest stock you will find, but nowhere close to defensive.
price stability
10 / 100
This stock does not glide. It lurches.
source: institutional data
Institutional activity
institutional ownership data for USIO is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$1
current price
n/a
target midpoint · n/a from current
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