RYVYL Inc. Files 10-Q for Period Ended March 31, 2024

TL;DR

<b>RYVYL Inc. has submitted its Q1 2024 10-Q filing, confirming compliance with reporting requirements.</b>

AI Summary

RYVYL Inc. (RVYL) filed a Quarterly Report (10-Q) with the SEC on May 14, 2024. RYVYL Inc. filed its quarterly report (10-Q) for the period ending March 31, 2024. The company is registered with the SEC under file number 001-34294. RYVYL Inc. is incorporated in Nevada and its fiscal year ends on December 31. The company's common stock trades on The Nasdaq Stock Market LLC under the symbol RVYL. RYVYL Inc. confirmed it has filed all required reports for the past 12 months and submitted interactive data files.

Why It Matters

For investors and stakeholders tracking RYVYL Inc., this filing contains several important signals. This filing provides investors with the latest financial and operational updates for RYVYL Inc. for the first quarter of 2024. As a publicly traded company on Nasdaq, RYVYL Inc. is obligated to provide regular disclosures, and this 10-Q is a key part of that transparency.

Risk Assessment

Risk Level: low — RYVYL Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate financial results or significant operational changes, indicating a routine disclosure.

Analyst Insight

Monitor future filings for detailed financial performance and operational updates from RYVYL Inc.

Key Numbers

• 20240331 — Quarterly Period End Date (The report covers the period ending March 31, 2024.)
• 001-34294 — SEC File Number (RYVYL Inc.'s SEC file number.)
• RVYL — Trading Symbol (The stock ticker for RYVYL Inc.)
• 20240514 — Filing Date (The date the 10-Q was filed.)

Key Players & Entities

• RYVYL Inc. (company) — Filer name and subject of the report.
• 0001185185-24-000500 (other) — Accession number for the filing.
• 20240331 (date) — Conformed period of report.
• 001-34294 (other) — Commission file number.
• RVYL (ticker) — Trading symbol for common stock.
• The Nasdaq Stock Market LLC (company) — Exchange where common stock is registered.
• 20240514 (date) — Filed as of date.
• Nevada (jurisdiction) — State of incorporation.

FAQ

Industry Context

RYVYL Inc. operates in the services sector, specifically management consulting services, as indicated by its SIC code.

Regulatory Implications

As a publicly traded company in the US, RYVYL Inc. is subject to the reporting requirements of the Securities Exchange Act of 1934, including filing quarterly reports (10-Q).

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management discussion.
2. Track RYVYL Inc.'s performance in subsequent quarterly reports.
3. Analyze any forward-looking statements or risk factors disclosed in the filing.

Key Dates

• 2024-03-31: Quarterly Period End — Marks the end of the reporting period for the 10-Q.
• 2024-05-14: Filing Date — The date RYVYL Inc. submitted its 10-Q to the SEC.

Year-Over-Year Comparison

This is the 10-Q filing for the quarter ended March 31, 2024, following previous filings required by the SEC.

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value RVYL The Nasdaq Stock Mar
• $7.5 million — on(to date, the Company has repatriated $7.5 million from Europe). Management has assessed

Filing Documents

• ryvyl20240331_10q.htm (10-Q) — 1166KB
• ex_670016.htm (EX-31.1) — 13KB
• ex_670017.htm (EX-31.2) — 13KB
• ex_670018.htm (EX-32.1) — 6KB
• ex_670019.htm (EX-32.2) — 6KB
• 0001185185-24-000500.txt (&nbsp;) — 6051KB
• rvyl-20240331.xsd (EX-101.SCH) — 50KB
• rvyl-20240331_cal.xml (EX-101.CAL) — 40KB
• rvyl-20240331_def.xml (EX-101.DEF) — 244KB
• rvyl-20240331_lab.xml (EX-101.LAB) — 427KB
• rvyl-20240331_pre.xml (EX-101.PRE) — 246KB
• ryvyl20240331_10q_htm.xml (XML) — 836KB

Consolidated Financial Information

PART I Consolidated Financial Information Page Item 1.

Financial Statements

Financial Statements 3 Condensed Consolidated Balance Sheets as of March 31, 2024 (unaudited) and December 31, 2023 3 Condensed Consolidated Statements of Operations and Comprehensive Income for the Three Months Ended March 31, 2024 and 2023 (unaudited) 4 Condensed Consolidated Statements of Changes in Stockholders' Equity for the Three Months Ended March 31, 2024 and 2023 (unaudited) 5 Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 (unaudited) 6 Notes to Unaudited Condensed Consolidated Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 27 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 33 Item 4.

Controls and Procedures

Controls and Procedures 33

Other Information

PART II Other Information Item 1.

Legal Proceedings

Legal Proceedings 34 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 36 Item 3. Defaults Upon Senior Securities 36 Item 4. Mine Safety Disclosures 36 Item 5. Other Information 36 Item 6. Exhibits 36

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS RYVYL INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in thousands, except share and per share data) March 31, 2024 December 31, 2023 (Unaudited) ASSETS Current Assets: Cash and cash equivalents $ 10,523 $ 12,180 Restricted cash 78,293 61,138 Accounts receivable, net of allowance for credit losses of $ 40 and $ 23 , respectively 1,066 859 Cash due from gateways, net of allowance of $ 2,636 and $ 2,636 , respectively 1,426 12,834 Prepaid and other current assets 2,954 2,854 Total current assets 94,262 89,865 Non-current Assets: Property and equipment, net 290 306 Goodwill 26,308 26,753 Intangible assets, net 4,439 5,059 Operating lease right-of-use assets, net 4,036 4,279 Other assets 2,536 2,403 Total non-current assets 37,609 38,800 Total assets $ 131,871 $ 128,665 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $ 1,321 $ 1,819 Accrued liabilities 4,653 5,755 Payment processing liabilities, net 83,916 76,772 Current portion of operating lease liabilities 717 692 Other current liabilities 456 504 Total current liabilities 91,063 85,542 Long term debt, net of debt discount 16,816 15,912 Operating lease liabilities, less current portion 3,522 3,720 Total liabilities 111,401 105,174 Commitments and contingencies Stockholders' Equity: Preferred stock, Series B, par value $ 0.01 , 5,000,000 shares authorized; 55,000 shares issued and outstanding at March 31, 2024 and December 31, 2023 1 1 Common stock, par value $ 0.001 , 100,000,000 shares authorized, shares issued and outstanding of 6,001,487 and 5,996,948 , respectively 6 6 Additional paid-in capital 175,777 175,664 Accumulated other comprehensive (loss) income ( 44 ) 401 Accumulated deficit ( 155,270 ) ( 152,581 ) Total stockholders' equity 20,470 23,491 Total liabilities and stockho

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View this 10-Q filing on SEC EDGAR