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Friday 6 November 2026
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Usio Inc
USIO Technology Software Infrastructure
Usio Inc’s revenue for fiscal 2025 (year ended December 2025) was $85.4 million, up 2.97% from fiscal 2024.
- Revenue
- +18.6%
- EPS
- +171.9%
- Free cash flow
- −56.1%
- Total debt
- +93.7%
Quarter to June 2026, against a year earlier
2.96
0.03
+1.02%
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Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | 12 | 15 | 25 | 28 | 32 | 62 | 69 | 84 | 83 | 85 | 93 | +24.3% | 98 | 110 | — | +13.3% | |
| Gross margin, % | 31.33 | 25.86 | 22.26 | 21.10 | 22.87 | 25.24 | 21.02 | 23.88 | 23.65 | 23.06 | 22.26 | (8.3) pt | ||||||
| EBT | (1) | (3) | (4) | (5) | (3) | 0 | (5) | 0 | 1 | (2) | (1) | +6.2% | ||||||
| EBT margin, % | (9.64) | (18.77) | (14.78) | (17.78) | (8.94) | (0.25) | (7.49) | (0.22) | 0.82 | (2.34) | (0.85) | +7.3 pt | ||||||
| Net income | (1) | (3) | (4) | (5) | (3) | 0 | (5) | 0 | 3 | (3) | (2) | +8.6% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 1.54 | 1.62 | 2.06 | 2.18 | 2.09 | 3.09 | 3.41 | 3.17 | 3.09 | 3.17 | 3.33 | +8.4% | |||||
| Earnings | (0.15) | (0.33) | (0.31) | (0.39) | (0.19) | (0.02) | (0.27) | (0.02) | 0.12 | (0.09) | (0.05) | (5.5%) | ||||||
| Cash flow | 0.11 | (0.10) | (0.23) | (0.29) | 0.41 | 1.49 | (0.84) | 0.13 | 0.11 | 0.06 | 0.02 | (7.0%) | ||||||
| Capex | (0.02) | (0.04) | (0.06) | (0.05) | (0.06) | (0.06) | (0.04) | (0.03) | (0.04) | (0.06) | (0.06) | +12.4% | ||||||
| Free cash flow | 0.09 | (0.15) | (0.29) | (0.34) | 0.35 | 1.42 | (0.88) | 0.10 | 0.07 | 0.00 | (0.04) | n/m | ||||||
| Book value | 1.15 | 1.46 | 0.79 | 0.58 | 1.08 | 0.93 | 0.68 | 0.57 | 0.71 | 0.67 | 0.68 | (5.9%) | ||||||
| Shares, m | 8 | 9 | 12 | 13 | 15 | 20 | 20 | 26 | 27 | 27 | 27 | +14.7% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 12.94 | 0.00 | 0.00 | 1.3 | |||||
| P/S | 1.19 | 1.58 | 0.80 | 0.72 | 1.28 | 1.41 | 0.49 | 0.55 | 0.47 | 0.43 | 0.89 | 0.9 | ||||||
| P/B | 1.60 | 1.75 | 2.09 | 2.67 | 2.47 | 4.68 | 2.44 | 3.08 | 2.05 | 2.04 | 4.38 | 2.5 | ||||||
| EV/Sales | (0.46) | 1.25 | 0.72 | 0.73 | 1.21 | 1.29 | 0.41 | 0.48 | 0.38 | 0.36 | 0.83 | 0.6 | ||||||
| EV/FCF | (7.94) | (13.93) | (5.20) | (4.73) | 7.18 | 2.81 | (1.59) | 14.98 | 16.33 | (1,294.51) | (67.55) | (128.7) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | 1 | (1) | (3) | (4) | 6 | 30 | (17) | 4 | 3 | 2 | 1 | +6.6% | |||||
| Capex | 0 | 0 | (1) | (1) | (1) | (1) | (1) | (1) | (1) | (2) | (2) | +29.0% | ||||||
| Free cash flow | 1 | (1) | (3) | (4) | 5 | 29 | (18) | 3 | 2 | 0 | (1) | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | 5 | 5 | 2 | 1 | 6 | 9 | 6 | 8 | 10 | 9 | 10 | +8.5% | |||||
| Net debt | (20) | (5) | (2) | 0 | (2) | (7) | (6) | (6) | (7) | (6) | (5) | (12.4%) | ||||||
| Shareholders’ equity | 9 | 13 | 10 | 8 | 17 | 19 | 14 | 15 | 19 | 18 | 19 | +7.9% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | (1.74) | (4.39) | (5.57) | (7.88) | (4.03) | (0.30) | (4.74) | (0.46) | 3.09 | (2.08) | (1.30) | (0.3) pt | |||||
| ROIC | 0.00 | (21.30) | (31.56) | (39.23) | (16.15) | (0.84) | (39.28) | (3.20) | (7.77) | (12.45) | (5.13) | (12.4) pt | ||||||
| ROE | (13.20) | (27.19) | (33.18) | (59.48) | (23.95) | (1.82) | (33.64) | (3.28) | 19.32 | (13.55) | (8.04) | (0.4) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 21 | 33 | 43 | 51 | 89 | 108 | 117 | 126 | 111 | 110 | — | +20.2% | |||||
| Revenue/emp, $m | 0.58 | 0.44 | 0.58 | 0.55 | 0.36 | 0.57 | 0.59 | 0.67 | 0.75 | 0.78 | — | +3.4% | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026
Usio Inc vs peers in Software Infrastructure (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| SWMR Swarmer, Inc | $113.6M | — (loss-making) | — (loss-making) | — | n/m | −939.03% (below 0%: shrinking) | 84.84% | (3,363.96%) | Compare |
| TP Ticketplus Ltd. | $106.4M | 18.1× | — | — | — | −180.30% (below 0%: shrinking) | 48.96% | 21.92% | Compare |
| XLAB Exascale Labs Holdings Inc. | $105.5M | — | — | — | — | — | — | — | Compare |
| AIIO Robo.ai Inc. - Class B | $94.5M | — (loss-making) | — | — | n/m | −2,566.99% (below 0%: shrinking) | 0.00% | 0.00% | Compare |
| QMLS QumulusAI, Inc. | $90.0M | — | — | — | n/m | — | 66.60% | (114.27%) | Compare |
| USIO Usio Inc | $83.5M | — (loss-making) | 34.4× | +18.62% (above 0%: growing) | n/m | −56.12% (below 0%: shrinking) | 24.18% | 1.59% | |
| DAVA Endava PLC Sponsored ADR | $71.7M | — (loss-making) | — (loss-making) | +17.21% (above 0%: growing) | n/m | −136.07% (below 0%: shrinking) | 18.60% | (207.59%) | Compare |
| AGPU Axe Compute Inc. | $70.1M | — (loss-making) | — (loss-making) | +118,974.07% (above 0%: growing) | n/m | +221.90% (above 0%: growing) | 6.27% | (538.97%) | Compare |
| FATN FatPipe, Inc. | $64.6M | 9.2× | 12.4× | +22.10% (above 0%: growing) | n/m | −371.94% (below 0%: shrinking) | 89.97% | 17.47% | Compare |
| Median of peers | $92.2M | — | — | +22.10% | — | −276.12% | 48.96% | (114.27%) |
Pay and ownership Proxy statement filed 29 April 2026
Ownership
Directors and executive officers, together
19.00%
Louis Hoch
11.70%
Whittier Trust Company (for the benefit of National Services, Inc. and its sole shareholder)
9.90%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement