Operational ChangesThe operating changes allowed RYVYL to cut back on U.S. headcount, which could eliminate as much as $1M of operating expense per quarter, but leaves the top-line view a bit clouded.
Revenue DeclineRYVYL Inc. reported 2Q24 revenue of $11.9M, down 29% from $16.8M as U.S.-based business migrates to a third-party provider handling retail transactions now on a licensed, or white label, RYVYL platform.
Revenue GuidanceRYVYL revised its 2024 revenue guidance down due to temporary delays in European software implementations.