So we have all payment channels. It doesn't matter how a consumer wants to pay or how they want to get paid. We could be in the middle of that transaction. In fact, most of y'all in this today, sometime during this week, you've used our services and didn't even know it. The company's been around for a long time, but there's been a lot of evolution. First five years at the company, we just focused on doing electronic bill presentment and payment. We were the industry leader in that market, but not many people were paying their bills online during that time. What really matters for us is the last seven years when we have focused on becoming a growth-oriented company.
During that time frame, and pretty soon you'll see a chart that talks about our revenue growth, we've really focused on accelerating our growth revenues to prove to our industry that our technology is not only industry-leading, but could also scale, and we've done a great job proving that out. Last year's year-over-year revenue growth was 19%, up to $82.6 million. Our public guidance currently is 3%-7% revenue growth this year. Seems a little bit slower than last year, but we replaced this year $14 million worth of one-time revenue specifically for spoilage that occurred on a card program for the City of New York. So we replaced that one-time revenue with recurring revenue this year. We just have one type of equity, common stock, and today there's about 27,300,000 shares out there.
The public float is around 17 million, and we have a big chunk that's owned by executives and insiders within Usio. We have four operating divisions that we'll talk about today. They're all complementary. They all work together in one way to create payments for the other divisions. Our revenue growth slide again for the last seven years, pretty aggressive. This year, again, we're replacing a lot of one-time revenue that was earned last year and still growing. The majority of our business is recurring revenue generated from recurring payments. I don't know what button I hit. There we go. I was kind of hoping when it popped up, our revenue for this year was going to get much higher, but that didn't happen. Great job growing top line. You'll see later on in our financials that we're a very healthy company for our size.
We generate positive cash flow every quarter. This year, we're in guidance that we'll have earnings per share this year as well, and we have very little debt. Today, about $700,000 worth of debt, which is actually a physical machine in our print house. Again, for our operating divisions, we're going to walk through all of them at a high level. And if anybody wants to go any deeper, we'll be glad to schedule a call with you to follow up. Across all our offerings, some unique things, qualities. One is we focus on customer service. We found that in our industry, a lot of companies that we compete against, including companies like Stripe, they don't have a focus on customer service. You can't really call them, and if you email them, you might get an email back in three days.
That doesn't work when you're dealing with other people's money. So we have a focus, a commitment on a high level of customer service that helps us win business, especially from Stripe. So we're very responsive. Our systems are very scalable. In fact, we're at the point in our life cycle right now where we have operating leverage, where we can add huge accounts and not have to add any people, and our technology supports it. Our go-to-market strategy is also very unique. It's very leveraged. We don't sell to individual companies in most cases. Where we target is we sell to software vendors, companies that write software for a unique industry vertical. One of our customers that's easy to understand is PracticeSuite. They write software for doctors' offices. And they have 20,000 doctors' offices that run their software. And their software controls patient management, employee management, scheduling.
But a big part of it is billing and payments. And because we only sell to integrated software vendors, we get access to all their client base that is on their software. So every day, PracticeSuite sells new clients on their software. And every day, we get more clients from them. And we don't even talk to those clients. They just show up in our system. And it's a unique go-to-market strategy. So it's kind of the gift that keeps on giving. Hopefully, those doctors' offices continue to grow their business too. So it grows three ways. We add ISVs. Those ISVs add clients. And hopefully, those clients grow organically. So it's very unique. A lot of our competitors sell directly to merchants. And it takes about the same amount of time to sell. Payment facilitation represented 36% of our revenue last quarter.
Payment facilitation is card processing and ACH processing, specifically for ISVs. Our tech stack in this part of our offering is very unique. It allows us to turn on merchants real-time. It's very important for these software clients, once they acquire a new customer, to not have any hindrances to use their software. So they don't want to wait two or three days to get approved for payment processing. We turn them on real-time. And when they click the button to request payments, we're dipping 28 databases within eight seconds. The majority of those are external. About eight of them is our data. And then we make a decision if we want to work with that person or that company or not. About 90% of them are approved real-time. About 10% get kicked out for manual review. Again, our go-to-market strategy is amazing. We sell one ISV.
We get access to their downstream clients. In this, some of the ISVs that you would know, we have the number one, number three leading software companies for lawyers, attorneys. PracticeSuite is a nice client. We recently announced that we sold the biggest ISV that we've ever sold in the history of our company that is currently processing $1.4 billion a year in annual payments through Stripe, and they came to us because they wanted to enhance their brand and keep their customers on their software longer, and we share revenue with our ISVs, which our competitors do not, so that one deal, when implemented, has the potential of adding over $30 million in annual recurring revenue, so we're really excited about that client. ACH is direct debits and credits off your checking or savings account. It is the most economical payment channel there is.
We have significant scale in ACH. We have so much scale in ACH that if we were a bank, we'd be the 50th largest bank in the United States based upon the volume that we pump through the Federal Reserve. Because we have so much volume, we pretty much have everybody's checking and savings account. And because we have that data, we're able to tell our customers, "Hey, we've seen Louis' checking account 10x in the last month. And all transactions are good." Or, "We've seen Louis' checking account 10x in the last year, but the last two transactions went bad. They were NSF." So our clients will say, "Oh, we probably don't want to do business with Louis." Because we have so much volume and so much data, we actually have our own Fed terminal. And we're treated just like a bank.
We have our own routing number. We have our own Fed terminal. Other companies like us that have that is just PayPal that we're aware of. That gives us a unique advantage. We get to process in every Federal Reserve window in a given day. So customers on the East Coast can process up till 4:00 A.M. tonight. And we'll transact that through the San Francisco Federal Reserve to give them same-day processing. This is the highest margin part of our business. Included in this bucket is new innovative channels like FedNow, The Clearing House, and PINless debit. So PINless debit is what Venmo runs on. The Clearing House is what Zelle runs on. And the FedNow is the Federal Reserve's new real-time payment mechanism. But that is just today just credits. Card issuing is a very exciting division of ours. We have a lot of innovative technology.
And our customers here are primarily corporations doing promotions and disbursements, also cities and counties and states. So our platform is run in over 200 cities and counties, including 7 out of the 10 largest cities in the United States use our platform to distribute payments, including New York and where we're at today, LA County. LA County is an amazing customer. They actually use every one of our services. Today, we have 13 active card programs with LA County where they're doing disbursements for various reasons. The most popular one is they hand out $25 cards for people to use public transportation that don't have money for public transportation. So you got a job interview, but you don't have enough money to get on a bus. They will give you a $25 card from us.
In this division, we also issue cards for the top 30 universities in the United States. So it's likely your alma mater. If you pick up a gift card with a Mastercard logo on it, that's us. We also do reloadable cards for the universities. Top four drug companies we do clinical trial cards for: Merck, Medtronic, Eli Lilly, and Pfizer. I always forget that one. And so if you participate in a clinical trial there, you will receive a card from us. And they'll reload it with funds every time you go back. Some other cool things that we do in card issuing: OpenTable. If you use OpenTable for your reservations for dinner, you can accumulate points. In some states, you can turn those points into an OpenTable Mastercard. That's us. MoviePass. If you're familiar with MoviePass, that's how you access your MoviePass subscription.
When you go to AMC Theatres to see a movie, you're going to swipe your MoviePass Mastercard. A transaction will come into us. And through unique technology that just us and Marqeta has, one of our competitors, we send that transaction real-time to MoviePass. And they say, "Oh, yeah, Louis has got enough credits. Go ahead and pay the $14 to AMC." So without us, MoviePass doesn't exist. And there's a lot of examples where fintech companies are leveraging our technology so much that without us, they just don't exist. But in card issuing, we have unique technology that only us have. And one of the cool things that we can do that nobody else has figured out is we can push a Mastercard or any card directly into your phone without you requesting it. And everybody's got it figured out how you put your American Express.
You type it in. It goes in your Apple Wallet or your Google Wallet or Samsung Wallet. But only us has figured out how to push it directly into your phone without you requesting it. And I'll give you a good example. We have a customer that uses our platform for geolocation offers. You walk by Taco Bell, your phone beeps, and it says, "Do you want a free taco?" And you click yes. And then you get a coupon code. You go into Taco Bell, and they give you free taco, right? Well, they came to us and said, "Hey, we need to facilitate payments." And their first customer is Coca-Cola Bottling Company of Atlanta. They're rolling out new Coke machines with tap and pay.
They did their studies that if you use the Coke machine once, you're going to use it more than once because tap and pay will hook you. And of course, they don't want to unload money out of machines, right? They just want to put product in machines. Anyway, the first one that received this offer was a kid in high school in Atlanta. He walked by the Coke machine, and his phone beeped and says, "Hey, do you want a free Coke?" And in the time that he pushed yes to the time he tapped his phone up to the Coke machine, we had loaded his phone with a card that could only be used specifically for that Coke machine just to buy a Coke. And it was only good for next hour. Anyway, so he taps it. Out comes a Coke.
Evidently, he got really excited because he told all his friends in next class, "This is how you get free Coke," right? In the course of two hours, that high school unloaded the Coke machine. About 600 Cokes got delivered out of this machine in two hours. Of course, our fraud and risk team freaked out. That process allowed us to issue about 600 cards in two hours. Subsequently, in 48 hours, we issued 87,000 cards because those kids made that program go viral. Coca-Cola called our customer and said, "Hey, your software is amazing, but you got to turn it off. We already hit our budget." That gives you the power of pushing the card directly to a phone for specific uses.
It also works great for, you're at a football game, UT football game, and you see on the scoreboard text, "Go Bevo to receive a free Coke." If you do that, a message comes to us, and we're going to push a branded UT Mastercard directly into your phone. And then you can use it in that stadium for the next four hours to buy a Coke. If you don't use it, we give the money back to Coke, and they only have to pay us $0.25. They don't have to pay the whole $5. Output Solutions is a print house. We only print first-class mail, and our customers are banks and financial institutions, a lot of cities and counties for tax notices, a lot of utilities. Not only do we print first-class mail, we also generate electronic documents.
This year was the first year that we produced more electronic than we did paper, which is great for us because electronic is at very high margin compared to paper. Also, in this division, we print a lot of checks, and so our check volumes continue to go up, which just amazes us because there's no reason for checks. But certain implementations just love checks. Bankruptcy distributions is one. They love to send out checks if you're getting a bankruptcy distribution. Here in Los Angeles County, if you accidentally pay the county too much money, you're going to get a check from us. Also, in Los Angeles County, if you don't pay your parking tickets, you're going to receive letters from us saying, "Hey, you need to pay," and usually, on the third one, is probably when you're going to pay.
That's when you receive the letter says, "Hey, a warrant's been issued for your arrest." So that's how we marry print to create payments. Toll roads in the United States, New Jersey Turnpike, Florida Turnpike, Philadelphia, I forget what it's called, the whole state of Massachusetts. We're the company that sends you a letter that says, "Hey, you went through these tolls. Here's a picture of your license plate. Here's what you owe." And then embedded in that letter is a QR code that has all your information in it. So if you just scan that QR code, all you got to do is click pay. And then you're done. So Output Solutions, we do a lot of great things there that actually create payments for us in other divisions. Again, our P&L revenue growth has just been amazing. We are creating positive cash flow. We have positive adjusted EBITDA.
We will have earnings per share this year. And we're at a great point in our life cycle. Our balance sheet, we generate cash every quarter. So next quarter, the $7.5 million, you'll see it'll be a bigger number. Restricted cash is great for us. It's not our money. It's our customer's money one way or the other. But we earn interest off of it. And that's very important, right? It comes from four different sources: postage deposits, balances on Mastercard, the prepaid cards, settlement assets, which are payments that are processed on a Monday that we don't pay out until Wednesday, but that balance stays pretty constant. And prepaid load deposits. For example, State of California, we just did a $90 million distribution to flood victims here in the state. And they put it on cards. But they give us the money upfront.
And then they'd hit our tech stack or our API and say, "Hey, issue a card to this person with this amount." And then we would deduct them out. So that's another way that we get cash balances that we earn interest on. And you can see there's a corresponding liability with those cash balances. And here's our senior management team. So is there any questions? Yes?
Are you focusing also on active membership-based businesses, noticeable, like bookstores, those types of things?
So we have an ISV that does that. It's called Fitli. And Fitli writes software for those types of scenarios, which are physical locations down to the weekend yoga teacher in the park that they manage their membership base, and they create recurring payments through us.
Like Mindbody for Mindbody.
Yeah, it's perfect. Yeah. Fitli is one of those great ISVs that just adds new clients for us every week. We don't even have to talk to them.
400 recurring members processing every month. What's the sweet spot for the transaction amount? If you're doing an ACH and you're making $0.70 on that, where is the sweet spot as far as the amount of that transaction? Is it $200? Is it $2,000? What's your highest margin?
In most cases for ACH, we don't get a percentage of the transaction. We just get a transaction fee. So we don't care about the amount. On the card side, we prefer the amount to be up as high as we can be. Today, our average is about $300 is our average ticket across all of our transactions.
On the ACH side, it's just the numbers?
In most cases. In some cases, we are getting a percentage of transactions. When we were doing crypto loads for the crypto companies, we received a percentage of those. I've got other questions that sit in the building. Anybody else got a question? Yes, sir. Yeah.
I'm trying to get your head up on ACH. I was a little confused by the numbers you had there. You said the average you earned $0.70, but you only did revenue of $0.21. That's 70% margin. Why is 70% of $0.41?
So it's gross margins. That $0.70, our cost on that $0.70 is about $0.03. So yeah, $0.41 is what we have to play with, right? Anybody else? We got a minute left. All right. Well, please visit our booth outside. We have some really cool swag that we do not want to take back home. So thanks. T hanks for listening.