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Ryvyl
(NASDAQ:RVYL)
Ryvyl (RVYL) vs. SPDR S&P 500 ETF (SPY)
Ryvyl Business Overview & Revenue Model
Ryvyl Earnings Call Summary
Ryvyl Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 35.42M | 56.00M | 65.87M | 32.91M | 26.30M | 8.53M |
| Gross Profit | 15.12M | 22.43M | 25.71M | 16.12M | 16.23M | 3.70M |
| EBITDA | -11.45M | -20.30M | -33.78M | -6.13M | -29.43M | -3.48M |
| Net Income | -19.97M | -26.82M | -53.10M | -49.24M | -35.27M | -5.01M |
Balance Sheet | ||||||
| Total Assets | 23.41M | 122.28M | 128.66M | 97.66M | 114.05M | 12.26M |
| Cash, Cash Equivalents and Short-Term Investments | 1.16M | 2.60M | 12.18M | 13.96M | 89.05M | 0.00 |
| Total Debt | 2.63M | 21.07M | 20.32M | 63.39M | 79.57M | 1.40M |
| Total Liabilities | 26.64M | 123.77M | 105.17M | 99.58M | 84.58M | 11.88M |
| Stockholders Equity | -3.22M | -1.49M | 23.49M | -1.92M | 29.47M | 385.24K |
Cash Flow | ||||||
| Free Cash Flow | -6.02M | 21.14M | 33.05M | -9.51M | -27.32M | -4.17M |
| Operating Cash Flow | -4.13M | 21.19M | 33.16M | -9.34M | -27.17M | -4.16M |
| Investing Cash Flow | -76.93M | -1.81M | 2.29M | -47.65M | -2.66M | -6.65K |
| Financing Cash Flow | 7.32M | -241.00K | -3.01M | -10.05M | 116.06M | 5.24M |
Ryvyl Technical Analysis
Ryvyl Risk Analysis
Ryvyl Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
49 Neutral | $10.09M | -3.29 | -25.73% | ― | 0.16% | -36.86% | |
44 Neutral | $10.03M | -3.08 | -93.31% | ― | 68.56% | 89.48% | |
43 Neutral | $7.33M | -0.13 | -993.23% | ― | -44.25% | 82.71% | |
41 Neutral | $16.34M | >-0.01 | -415.08% | ― | 16.50% | ― | |
40 Underperform | $1.40M | -0.13 | -46.76% | ― | -15.10% | -177.14% | |
39 Underperform | $6.90M | -0.06 | ― | ― | -30.70% | 82.02% |
Ryvyl Corporate Events
On January 16, 2026, RYVYL regained compliance with Nasdaq’s minimum bid price rule after its shares maintained a closing bid of at least $1.00 for ten consecutive trading days from January 2 to January 15, 2026, leading Nasdaq to cancel a previously scheduled delisting hearing and confirm continued listing of the company’s common stock on the Nasdaq Capital Market without any change to its capital structure. In a January 20, 2026 announcement, the company also disclosed that it has filed a Form S-4 registration statement with U.S. regulators in connection with its previously announced merger with RTB Digital, Inc. (Roundtable), noting that all material conditions to the deal have been met except for SEC approval of the filing and customary closing conditions, marking a key step toward completing the transaction while preserving shareholder equity and listing status.
The most recent analyst rating on (RVYL) stock is a Sell with a $4.50 price target. To see the full list of analyst forecasts on Ryvyl stock, see the RVYL Stock Forecast page.
On January 15, 2026, RYVYL announced that it had publicly filed a registration statement on Form S-4 and a related proxy statement/prospectus with the U.S. Securities and Exchange Commission in connection with its proposed acquisition of Web3 media platform provider RTB Digital, Inc., known as Roundtable. The merger, which is subject to SEC effectiveness of the filing, shareholder approvals and other customary conditions, is expected to close in the third quarter of 2026 and would pivot RYVYL’s business to focus on Roundtable’s advertising-driven Web3 media operations, signaling a strategic shift from its traditional payments base toward a digital media and Web3-centric revenue model with potentially significant implications for shareholders, customers and employees if successfully completed.
The most recent analyst rating on (RVYL) stock is a Hold with a $5.00 price target. To see the full list of analyst forecasts on Ryvyl stock, see the RVYL Stock Forecast page.
On January 5, 2026, RTB Digital, Inc., the anticipated merger partner of RYVYL Inc., executed a binding term sheet with UTXO Management, an affiliate of 210k Capital, for a $10 million secured convertible note investment that mirrors RTB’s prior $33 million funding, bringing RTB’s recent capital raises to $43 million and, if the merger closes, adding to RYVYL’s shareholder equity without altering the exchange ratio for existing RYVYL stockholders. The note, whose proceeds will be held in Bitcoin, will automatically convert into RYVYL equity at a pre-money valuation of $200 million upon consummation of the merger, and is accompanied by 20% warrant coverage, price-protection mechanisms via additional warrants if the fully diluted valuation at closing is below $200 million, as well as a 12‑month lock‑up on resulting shares and a right of first refusal for RYVYL on any post-lock‑up share sales, together underscoring a capital structure designed to support the planned merger while managing dilution and market overhang risks for existing investors.
The most recent analyst rating on (RVYL) stock is a Hold with a $4.50 price target. To see the full list of analyst forecasts on Ryvyl stock, see the RVYL Stock Forecast page.
On January 2, 2026, Ryvyl Inc. issued 122,164 shares of its common stock to settle a securities class action filed in February 2023 in the U.S. District Court for the Southern District of California, which alleged that the company and certain executives misrepresented the state of its internal controls and materially misstated financial results for 2021 and early 2022. The settlement, formalized in a July 9, 2025 agreement and approved by the court, forms part of a $1 million cash-and-stock resolution and followed a series of amended complaints and partial rulings on motions to dismiss; as part of the deal, Ryvyl also granted a put option allowing the settlement class to sell the shares back to the company under specified price conditions, potentially affecting its future capital structure and share overhang.
The most recent analyst rating on (RVYL) stock is a Hold with a $4.50 price target. To see the full list of analyst forecasts on Ryvyl stock, see the RVYL Stock Forecast page.
At its December 15, 2025 annual meeting, RYVYL’s shareholders approved increasing the company’s authorized common shares from 100 million to 500 million and authorized a reverse stock split at a ratio set by the board, after which the company filed amendments in Nevada on December 19 and December 30, 2025 to implement these changes. The board ultimately set a 1-for-35 reverse stock split of the company’s common stock, effective January 1, 2026 with trading on a split-adjusted basis beginning January 2, 2026 on Nasdaq, a move the company says is aimed at lifting its share price to maintain compliance with Nasdaq’s $1 minimum bid requirement and potentially make the stock more attractive to investors, while leaving total authorized shares unchanged, eliminating fractional shares by rounding up, and proportionally adjusting all outstanding preferred stock, options, RSUs and warrants.
The most recent analyst rating on (RVYL) stock is a Sell with a $0.20 price target. To see the full list of analyst forecasts on Ryvyl stock, see the RVYL Stock Forecast page.
RYVYL Inc. announced the approval of key proposals during its 2025 Annual Meeting on December 15, 2025, including a reverse stock split and an increase in authorized shares, aimed at addressing Nasdaq listing compliance issues. Following Nasdaq’s delisting notice due to bid price deficiency, RYVYL has filed an appeal and plans to implement the reverse stock split to resolve compliance concerns, backed by a merger with Roundtable that has secured sufficient capital for stockholder equity. These actions are expected to strengthen the company’s market position and satisfy Nasdaq listing standards, though uncertainties remain regarding the outcome.
The most recent analyst rating on (RVYL) stock is a Hold with a $0.32 price target. To see the full list of analyst forecasts on Ryvyl stock, see the RVYL Stock Forecast page.
Ryvyl Inc., a Nevada corporation, announced an amendment to its Securities Purchase Agreement with RTB Digital, Inc., initially disclosed in October 2025. The amendment, dated December 9, 2025, increases the purchase price for 50,000 shares of Series C Preferred Stock by $1,500,000, bringing the total to $6,500,000, and raises the Stated Value per share from $100.00 to $130.00. This adjustment reflects a strategic financial maneuver to enhance the company’s capital structure, with all other terms of the agreement remaining unchanged.
The most recent analyst rating on (RVYL) stock is a Hold with a $0.31 price target. To see the full list of analyst forecasts on Ryvyl stock, see the RVYL Stock Forecast page.
On November 14, 2025, the United States District Court for the Southern District of California granted preliminary approval for a proposed settlement involving Ryvyl Inc. This settlement, executed on September 30, 2025, addresses consolidated shareholder derivative actions against certain current and former officers and directors of the company, including related litigation in Nevada. The court’s decision mandates that notice of the settlement be provided to all stockholders as of September 30, 2025, potentially impacting the company’s legal standing and stakeholder relations.
The most recent analyst rating on (RVYL) stock is a Sell with a $0.50 price target. To see the full list of analyst forecasts on Ryvyl stock, see the RVYL Stock Forecast page.
On November 6, 2025, RYVYL Inc. announced that Aly Madhavji will guide the company and RTB Digital, Inc. through their planned merger and will serve as the Chief Financial Officer of the merged entity. This strategic move aims to leverage Madhavji’s expertise in blockchain investments to enhance the company’s position in the digital media and Web3 sectors, potentially impacting its market operations and stakeholder interests.
The most recent analyst rating on (RVYL) stock is a Hold with a $0.50 price target. To see the full list of analyst forecasts on Ryvyl stock, see the RVYL Stock Forecast page.
On October 28, 2025, Fredi Nisan announced his resignation as a director and his retirement as CEO of RYVYL Inc., effective October 30 and October 31, 2025, respectively. The board has appointed George Oliva, the current CFO with extensive experience in corporate finance, as the Interim CEO, indicating a seamless transition in leadership without any internal disagreements.
The most recent analyst rating on (RVYL) stock is a Hold with a $0.50 price target. To see the full list of analyst forecasts on Ryvyl stock, see the RVYL Stock Forecast page.
On October 29, 2025, RYVYL Inc. announced the rescheduling of its 2025 Annual Meeting of Stockholders from October 30 to December 15, 2025, to accommodate new shareholders following a merger agreement with RTB Digital, Inc. (Roundtable). This merger, involving a Web3 digital media SaaS company, has generated significant interest, reflected in over 450 million shares of trading activity. The merger aims to integrate Roundtable’s advanced blockchain technology and media platform, potentially impacting RYVYL’s market positioning and stakeholder interests.
The most recent analyst rating on (RVYL) stock is a Hold with a $0.50 price target. To see the full list of analyst forecasts on Ryvyl stock, see the RVYL Stock Forecast page.