Usio (NASDAQ:USIO) stock dropped ~17% on Tuesday after the firm said its revenue will likely be affected by Voyager Digital's suspension of trading, deposits, withdrawals, and loyalty rewards.USIO expects to continue processing transactions as requested by Voyager.But due to the temporary suspension, ACH volume of transactions USIO processes for Voyager will be impacted unless Voyager resumes full operations.Voyager accounted for 8% of USIOS' total revenue for 2021 and 8% of its revenue from Jan. 1 through May 31.USIO's 2022 outlook assumed only $1M in revenue from Voyager's prepaid card program services for 2022.Through May 31, revenues from the prepaid card services were ~$670K.So the impact of a slowdown or end to this prepaid card program on USIO's bottom line is projected to be minimal.USIO reiterated its 2022 revenue guidance, but widened the range to 16-20% Y/Y growth.The firm expects to replace any potential revenue shortfall from suspended Voyager processing with new PayFac relationships.USIO also has over $15M in potential card spoilage revenue expected to be recognized starting Sept. and will continue for the following 12-18 months.USIO expects to report both sequential and Y/Y growth in ACH returned check processing for Q2. Sequential growth is projected in total ACH transactions processed.
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