Welcome to our dedicated page for Ryvyl news (Ticker: RVYL), a resource for investors and traders seeking the latest updates and insights on Ryvyl stock.
Ryvyl Inc. (symbol: RVYL) is a cutting-edge technology company specializing in blockchain-based payment solutions. Headquartered in San Diego, with additional offices in Seattle, Las Vegas, and Vancouver, Ryvyl designs and develops disruptive applications integrated into a comprehensive suite of financial products tailored for various industries.
The company’s core offering is the GreenBox POS, a fully-integrated, secure, blockchain-based Point of Sale system. This technology encompasses compliance, financial audit preparation, expense tracking, tax payments, register-specific features, and data fidelity controls. By leveraging blockchain technology, Ryvyl ensures a secure, immutable ledger for recording and storing tokenized assets, representing cash or data.
Ryvyl's software development is primarily in-house, augmented by international subsidiaries. The company collaborates with various vendors to develop customized electronics for point of sale machines and blockchain-based ATMs, significantly upgrading existing solutions.
One of Ryvyl's flagship products, QuickCard, provides a blockchain-powered e-wallet, demonstrating the company’s commitment to utilizing blockchain for real-world financial solutions. Ryvyl has been awarded five provisional patents, reflecting its innovative edge in the tech industry.
Ryvyl operates two main segments: North America and International, with the majority of its revenue generated from the North American market. The company continues to focus on monetizing its proprietary blockchain-based systems to support a wide array of industries.
Recent achievements include various operational highlights and upcoming events, such as the Q4 and Full Year 2023 Conference Call and Webcast on March 26, 2024, and the Q1 2024 Conference Call and Webcast on May 14, 2024. These events are crucial for stakeholders to stay updated on Ryvyl's financial performance and strategic initiatives.
For more information, visit www.ryvyl.com. Investor relations inquiries can be directed to Mark Schwalenberg at MZ Group, reachable at 312-261-6430 or via email at RVYL@mzgroup.us.
RYVYL Inc. (NASDAQ: RVYL) has licensed its payment-platform-as-a-service (PPaaS) to a U.S.-based licensee for nationwide deployment of Card Present (CP) and Card Not Present (CNP) transactions. This exclusive U.S. license agreement is expected to generate revenue starting in Q4 2024, with RYVYL earning per-transaction fees. The licensee will integrate the platform with its banking network by the end of Q3 2024 and plans to onboard over 1,000 merchants.
This licensing model aims to create a new high-margin revenue stream for RYVYL while reducing operational expenses and improving overall company gross margin. The partnership is expected to benefit both businesses and consumers through advanced payment technologies, including touchless payments and QR code transactions.
RYVYL Inc. (NASDAQ: RVYL), a leader in payment transaction solutions using blockchain and electronic token technology, has announced its plans to release Q2 2024 financial results on August 13, 2024, after market close. The company will host a conference call at 4:30 p.m. Eastern Time on the same day to discuss the results for the quarter ended June 30, 2024, provide a corporate update, and conduct a Q&A session.
Investors can participate via phone or webcast, with dial-in numbers provided for both US and international callers. A replay of the call will be available until October 13, 2024, and an archived version of the webcast will be accessible for 90 days on RYVYL's IR website.
RYVYL (NASDAQ: RVYL) has restructured its U.S. operations, focusing on licensing and diversifying into new vertical markets within its Northeast Merchant Systems (NEMS) unit.
Christian Murray, a fintech veteran, has been promoted to Managing Director of NEMS, effective July 15, 2024. Murray will also lead the company's licensing strategy. This move aims to enhance market penetration and revenue streams amid recent regulatory impacts on U.S. segment revenue.
In March 2024, RYVYL streamlined its operations by outsourcing payment logistics and reducing its U.S. workforce by 25%, which improved efficiencies and freed up resources for reinvestment.
CEO Fredi Nisan emphasized the company's focus on leveraging software licensing and addressing changes in the fintech compliance landscape to capture new opportunities and provide exceptional market value.
RYVYL (NASDAQ: RVYL) has entered into an Agreement with an existing noteholder to extend the repayment obligation of its 8% Senior Convertible Note to April 5, 2026. This extension includes a cash payment of $80,000 as an advance on the next interest payment due October 1, 2024. The principal amount outstanding remains $19.1 million. This move aims to enhance the company's financial flexibility and support growth in international markets. The company emphasizes its commitment to strong financial partnerships and long-term success.
RYVYL (NASDAQ: RVYL) reported a 49% increase in Q1 2024 revenue, totaling $16.8 million, driven by a 185% surge in RYVYL EU revenue to $7.1 million. North American revenue grew by 10% to $9.7 million. Q1 2024 processing volume was $994 million, with RYVYL EU contributing $755 million, up 28% from Q4 2023, while North America decreased by 33% to $239 million. Net loss improved to $2.7 million, a significant reduction from $8.0 million in Q1 2023. Adjusted EBITDA also improved to $(0.7) million from $(3.0) million. Cost of revenue rose to $9.7 million, and operating expenses slightly increased to $8.9 million. The company has $88.8 million in cash and restricted cash and $10.5 million in unrestricted cash as of March 31, 2024.
RYVYL Inc. (NASDAQ: RVYL) will unveil its first quarter 2024 financial results on May 14, 2024. The company, known for its payment transaction solutions using blockchain technology, will host a conference call to discuss these results, provide a corporate update, and engage in a Q&A session. Interested parties can participate by dialing in or joining the webcast.
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