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RVYL

Ryvyl Inc.

RVYL

Ryvyl Inc. • NASDAQ
$0.36 ▲ 10.55% (+0.03)
Market Cap $8.79 M
52w High $2.33
52w Low $0.25
Dividend Yield 0%
P/E -0.44
Volume 6.56M
Outstanding Shares 24.09M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $2.786M ▲ $3.204M ▼ $-1.953M ▲ -70.101% ▲ $-0.07 ▲ $-1.933M ▲
Q2-2025 $2.783M ▼ $4.505M ▼ $-8.408M ▼ -302.12% ▼ $-0.8 ▼ $-2.927M ▼
Q1-2025 $15.133M ▲ $7.563M ▼ $-2.756M ▲ -18.212% ▲ $-0.33 ▲ $-783K ▲
Q4-2024 $14.718M ▲ $11.398M ▲ $-6.851M ▼ -46.548% ▼ $-0.92 ▼ $-5.807M ▼
Q3-2024 $12.606M $7.337M $-5.174M -41.044% $-0.76 $-3.415M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.155M ▲ $23.413M ▲ $26.635M ▼ $-3.222M ▲
Q2-2025 $210K ▼ $20.602M ▼ $27.539M ▼ $-6.937M ▼
Q1-2025 $2.98M ▲ $108.073M ▼ $111.155M ▼ $-3.082M ▼
Q4-2024 $2.599M ▼ $122.276M ▼ $123.768M ▲ $-1.492M ▼
Q3-2024 $4.263M $127.311M $120.988M $6.323M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-1.953M ▲ $-3.054M ▼ $-88K ▲ $5.359M ▲ $2.756M ▲ $-3.054M ▼
Q2-2025 $-8.408M ▼ $12.435M ▲ $-74.994M ▼ $-4K ▼ $-62.51M ▼ $12.395M ▲
Q1-2025 $-2.756M ▲ $-15.581M ▼ $-1.269M ▼ $1.998M ▲ $-14.54M ▼ $-16.85M ▼
Q4-2024 $-6.851M ▼ $2.072M ▼ $-582K ▼ $-34K ▼ $547K ▼ $1.49M ▼
Q3-2024 $-5.174M $16.424M $-581K $-8K $16.323M $15.843M

Five-Year Company Overview

Income Statement

Income Statement Ryvyl’s business is still very small and has been running at a loss for several years. Revenue has grown from a very low base, but not fast enough to cover operating costs. Gross profit is positive, which suggests the core services can generate value, but overhead, development, and other expenses push operating income and net income clearly into negative territory. Losses widened during the middle of the period and only recently show a modest improvement, so the path to consistent profitability remains unproven and depends heavily on scaling revenue while keeping costs under control.

Balance Sheet

Balance Sheet The balance sheet looks thin and stressed. Total assets are modest, cash on hand has recently fallen to very low levels, and debt, while not huge in absolute terms, is meaningful relative to the company’s size. Reported equity has shrunk toward zero, which is consistent with cumulative losses and explains past listing-compliance concerns. This combination — limited cash, modest assets, and a very small equity cushion — leaves little room to absorb setbacks and suggests a heavy reliance on external financing or improved cash generation to support growth plans.

Cash Flow

Cash Flow Despite accounting losses, recent years show positive operating and free cash flow, helped by low capital spending needs. That means the business model is not very asset‑intensive and can, at least for now, generate some cash from operations. However, because the overall scale is small and the cash balance is thin, this positive cash flow should be viewed as fragile. Any slowdown in collections, increase in expenses, or growth initiatives that require upfront investment could quickly strain liquidity unless new funding is secured.

Competitive Edge

Competitive Edge Ryvyl competes in a very crowded and fast-moving fintech and payments arena, facing both large, well‑capitalized incumbents and nimble crypto‑native players. Its edge is a vertically integrated platform built on a proprietary blockchain, a dollar‑backed stablecoin (coyni), and white‑label, Payments‑as‑a‑Service offerings aimed at niche and underserved markets. These features can be attractive to partners who want advanced payment capabilities without building them in‑house. At the same time, Ryvyl’s small scale, limited financial resources, and the intense pace of innovation across the sector mean its competitive position is still emerging and vulnerable if it cannot execute quickly and reliably.

Innovation and R&D

Innovation and R&D Innovation is at the heart of Ryvyl’s story. The company has built its own private blockchain, a stablecoin platform, tokenization capabilities, and a suite of APIs and white‑label tools. It is also pushing into areas like mobile point‑of‑sale, Payments‑as‑a‑Service licensing, and potentially broader digital‑asset applications. Planned acquisitions and expansion into more advanced blockchain and crypto use cases could deepen this innovation profile. However, meaningful R&D and integration work require funding and organizational focus, both of which are constrained by the company’s small size and tight balance sheet. Success will hinge on prioritizing the few initiatives that can scale revenue without overextending resources.

Summary

Ryvyl is an early‑stage, innovation‑driven fintech platform trying to transition from concept and technology build‑out to sustainable commercial scale. The company combines a proprietary blockchain, a stablecoin ecosystem, and white‑label payment products aimed at niche, higher‑margin markets, with recent moves to streamline operations and refocus geographically. Financially, it remains loss‑making with a very light equity base and limited cash, even though recent operating cash flow has improved. The opportunity lies in monetizing its technology through partners and new digital‑asset initiatives; the main risks center on execution, funding, regulatory complexity, and intense competition from much larger players. Outcomes are likely to be highly sensitive to management’s ability to grow revenue rapidly without losing financial discipline.

NEWS

November 21, 2025 · 4:05 PM UTC

Court Provisionally Approves Settlement of RYVYL Derivative Litigation

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November 13, 2025 · 8:00 AM UTC

Roundtable CEO James Heckman to Host Virtual Investor Event on Thursday, November 20 Ahead of Merger with RYVYL

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November 6, 2025 · 11:53 AM UTC

Roundtable CEO James Heckman Announces New CFO, Aly Madhavji, Visionary Investor and Blockchain Founders Fund Managing Partner, To Lead RYVYL Merger, NASDAQ Listing

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October 29, 2025 · 5:53 PM UTC

RYVYL Announces Updated Shareholder Meeting, In Light of Anticipated Roundtable Merger to Address New Shareholders

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October 22, 2025 · 7:33 PM UTC

Halper Sadeh LLC Encourages Ryvyl Inc. Shareholders to Contact the Firm to Discuss Their Rights

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