RYVYL Inc. Files Q2 2024 10-Q Report

TL;DR

RYVYL Inc. (formerly GreenBox POS) filed its Q2 2024 10-Q. Check financials.

AI Summary

RYVYL Inc. filed its 10-Q for the quarterly period ended June 30, 2024. The company, formerly known as GreenBox POS, is incorporated in Nevada and operates in the management consulting services sector. The filing details its financial performance and operational status for the specified quarter.

Why It Matters

This filing provides investors and stakeholders with an update on RYVYL Inc.'s financial health and operational performance for the second quarter of 2024.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information that could reveal significant performance changes or risks for RYVYL Inc.

Key Players & Entities

• RYVYL Inc. (company) — Filer of the 10-Q report
• GreenBox POS (company) — Former name of RYVYL Inc.
• June 30, 2024 (date) — End of the quarterly period reported
• August 13, 2024 (date) — Date the 10-Q was filed
• 8742 (other) — Standard Industrial Classification code for Management Consulting Services

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value RVYL The Nasdaq Stock Mar
• $8.0 million — e Company has repatriated approximately $8.0 million from Europe). Management has assessed

Filing Documents

• ryvyl20240630_10q.htm (10-Q) — 1673KB
• ex_710410.htm (EX-31.1) — 12KB
• ex_710411.htm (EX-31.2) — 12KB
• ex_710412.htm (EX-32.1) — 6KB
• ex_710413.htm (EX-32.2) — 6KB
• 0001185185-24-000791.txt ( ) — 7169KB
• rvyl-20240630.xsd (EX-101.SCH) — 54KB
• rvyl-20240630_cal.xml (EX-101.CAL) — 45KB
• rvyl-20240630_def.xml (EX-101.DEF) — 262KB
• rvyl-20240630_lab.xml (EX-101.LAB) — 469KB
• rvyl-20240630_pre.xml (EX-101.PRE) — 265KB
• ryvyl20240630_10q_htm.xml (XML) — 972KB

Consolidated Financial Information

PART I Consolidated Financial Information Page Item 1.

Financial Statements

Financial Statements 3 Condensed Consolidated Balance Sheets as of June 30, 2024 (unaudited) and December 31, 2023 3 Condensed Consolidated Statements of Operations and Comprehensive Income for the Three Months and Six Months Ended June 30, 2024 and 2023 (unaudited) 4 Condensed Consolidated Statements of Changes in Stockholders' Equity for the Three Months and Six Months Ended June 30, 2024 and 2023 (unaudited) 5 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 (unaudited) 7 Notes to Unaudited Condensed Consolidated Financial Statements 8 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 30 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 38 Item 4.

Controls and Procedures

Controls and Procedures 38

Other Information

PART II Other Information Item 1.

Legal Proceedings

Legal Proceedings 39 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 41 Item 3. Defaults Upon Senior Securities 41 Item 4. Mine Safety Disclosures 41 Item 5. Other Information 41 Item 6. Exhibits 42

- 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) June 30, 2024 December 31, 2023 (Unaudited) ASSETS Current Assets: Cash and cash equivalents $ 6,387 $ 12,180 Restricted cash 68,773 61,138 Accounts receivable, net of allowance for credit losses of $ 80 and $ 23 , respectively 793 859 Cash due from gateways, net of allowance of $ 0 and $ 2,636 , respectively 1,136 12,834 Prepaid and other current assets 2,408 2,854 Total current assets 79,497 89,865 Non-current Assets: Property and equipment, net 792 306 Goodwill 19,468 26,753 Intangible assets, net 4,071 5,059 Operating lease right-of-use assets, net 3,824 4,279 Other assets 1,381 2,403 Total non-current assets 29,536 38,800 Total assets $ 109,033 $ 128,665 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $ 3,156 $ 1,819 Accrued liabilities 4,780 5,755 Payment processing liabilities, net 70,575 76,772 Current portion of operating lease liabilities 787 692 Other current liabilities 358 504 Total current liabilities 79,656 85,542 Long term debt, net of debt discount 17,437 15,912 Operating lease liabilities, less current portion 3,311 3,720 Total liabilities 100,404 105,174 Commitments and contingencies Stockholders' Equity: Preferred stock, Series B, par value $ 0.01 , 5,000,000 shares authorized; shares issued and outstanding 54,125 and 55,000 at June 30, 2024 and December 31, 2023, respectively 1 1 Common stock, par value $ 0.001 , 100,000,000 shares authorized, shares issued and outstanding of 6,750,100 and 5,996,948 at June 30, 2024 and December 31, 2023, respectively 7 6 Additional paid-in capital 176,220 175,664 Accumulated other comprehensive (loss) income ( 218 ) 401 Accumulated deficit ( 167,381 ) ( 152,581 ) Total stockholders'

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View this 10-Q filing on SEC EDGAR