RYVYL (NASDAQ: RVYL), a leading innovator of payment transaction solutions leveraging proprietary blockchain ledger and electronic payment technology for the diverse international markets, is reporting on its financial and operational results for the quarter ended March 31, 2024. Highlights of the report include a 49% increase in revenue for Q1 2024 compared to Q1 2023, with revenue reaching $16.8 million, and total processing volume for the quarter increasing by 4% compared to Q4 2023, with EU processing business volume reaching $755 million and North America processing business volume totaling $239 million. “RYVYL makes payment technology simple by enabling intuitive, secure and compliant payments,” said RYVYL CEO Fredi Nisan in the press release. “Leveraging this proprietary technology, we are actively pursuing new verticals and licensing opportunities, such as new PayFac as a service and new independent software vendor relationships, which we believe will drive long-term growth. In Q1 2024, our RYVYL EU efforts continued to gain traction and delivered processing volume and revenue growth. However, recent changes in the banking compliance environment in the U.S. are affecting some of our high-risk verticals. As we navigate this transition, we remain focused on efficient capital management, to date repatriating $7.5 million from Europe to the U.S. while implementing cost control measures projected to benefit us in future periods. Additionally, we are accelerating business development in new verticals. While we expect Q2 2024 revenue to continue to be impacted, we believe our robust pipeline will fuel growth in the second half of 2024.”

To view the full press release, visit https://ibn.fm/0Ycch

About RYVYL Inc.

RYVYL was born from a passion for empowering a new way to conduct business-to-business, consumer-to-business and peer-to-peer payment transactions around the globe. By leveraging proprietary blockchain ledger and electronic token technology for the diverse international markets, RYVYL is a leading innovator of payment transaction solutions reinventing the future of financial transactions. Since its founding as GreenBox POS in 2017 in San Diego, RYVYL has developed applications enabling an end-to-end suite of turnkey financial products with enhanced security and data privacy, world-class identity-theft protection and rapid speed to settlement. As a result, the platform can log immense volumes of immutable transactional records at the speed of the internet for first-tier partners, merchants and consumers around the globe. For more information about the company, please visit www.RYVYL.com.

NOTE TO INVESTORS: The latest news and updates relating to RVYL are available in the company’s newsroom at https://ibn.fm/RVYL

About InvestorWire

InvestorWire (“IW”) is a specialized communications platform with a focus on advanced wire-grade press release syndication for private and public companies and the investment community. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, IW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, IW brings its clients unparalleled recognition and brand awareness. IW is where breaking news, insightful content and actionable information converge.

For more information, please visit https://www.InvestorWire.com

Please see full terms of use and disclaimers on the InvestorWire website applicable to all content provided by IW, wherever published or re-published: https://www.InvestorWire.com/Disclaimer

InvestorWire
Los Angeles, CA
www.InvestorWire.com
310.299.1717 Office
Editor@InvestorWire.com

InvestorWire is powered by IBN