Ryvyl (RVYL) AI Stock Analysis

• Market Cap: $5.38M
• Dividend Yield: N/A
• Average Volume (3M): 5.47M
• Price to Earnings (P/E): ―
• Beta (1Y): 2.34
• Revenue Growth: -44.25%
• EPS Growth: 82.71%
• Country: US
• Employees: 95
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Infrastructure
• EPS (TTM): -4.55
• Shares Outstanding: 1,031,028
• 10 Day Avg. Volume: 1,418,276
• 30 Day Avg. Volume: 5,474,171
• PEG Ratio: 0.19
• Price to Book (P/B): -204.15
• Price to Sales (P/S): 5.44
• P/FCF Ratio: 14.41
• Enterprise Value/Market Cap: 55.23
• Enterprise Value/Revenue: 8.39
• Enterprise Value/Gross Profit: 19.66
• Enterprise Value/Ebitda: -25.96
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 42 Neutral
• Price Target: $4.50 ▼(-8.54% Downside)

The score is held down primarily by weak financial performance (declining revenue, large losses, negative equity, and negative operating/free cash flow) and a bearish technical trend (price far below key moving averages with negative MACD). Corporate events provide some support via financing and NASDAQ-compliance/merger-related developments, but valuation remains constrained by negative earnings and the lack of a dividend.

Positive Factors

Strategic merger and RTB investment

The RTB direct investment and planned merger bring Roundtable’s Web3 media and blockchain capabilities into Ryvyl, expanding product scope beyond payments. This structural tech and content integration can create differentiated offerings and new revenue channels if integration is executed well.

Recent capital raise

The $5M Series C private placement materially improves near-term liquidity, helping meet NASDAQ equity requirements and fund operations and merger-related integration. This reduces immediate insolvency risk and buys time to execute strategic initiatives over the next several months.

Favorable gross margin

A 42.68% gross margin indicates solid unit economics on transaction and subscription revenue. If revenue stabilizes and operating expenses are controlled, this level of gross profitability supports a credible pathway to operating leverage and eventual positive margins.

Negative Factors

Declining revenue

TTM revenue down 21.71% signals weakening demand or customer attrition, reducing scale and marketplace leverage. Sustained top-line contraction undermines the ability to spread fixed costs, jeopardizes long-term margin recovery, and increases dependence on external funding.

Deep operating losses

A -56% net margin and negative EBIT/EBITDA reflect structural profitability issues. Persistent heavy losses will deplete capital, force dilutive financings or cost restructurings, and limit reinvestment capacity, unless revenue growth and operating efficiency materially improve.

Cash flow stress

Negative operating and free cash flows indicate the business is not self-funding and is burning cash. Continued cash burn increases reliance on external capital, raises refinancing risk, and constrains strategic flexibility until operations can generate sustainable positive cash flow.

Ryvyl Business Overview & Revenue Model

Company Description

GreenBox POS, a technology company, engages in the development, marketing, and sale of blockchain-based payment solutions. Its blockchain-based systems facilitate, record, and store a volume of tokenized assets, representing cash or data, on a blockchain-based ledger. The company's products include QuickCard Payment System, a physical and virtual cash management system, including software that facilitates deposits, cash, and e-wallet management; point of sale solutions comprising software and hardware; and Loopz software solution, a mobile delivery service operations management solution with automated dispatch functionality. It serves customers in various industries, including foreign exchange, retail, and e-commerce sectors. The company was formerly known as ASAP Expo, Inc. GreenBox POS was incorporated in 2007 and is based in San Diego, California.

How the Company Makes Money

Ryvyl generates revenue primarily through transaction fees charged to merchants for payment processing services. Each time a transaction is processed through its platform, Ryvyl collects a percentage of the transaction value as a fee. In addition to transaction fees, the company earns revenue from subscription-based services that provide merchants with access to premium features and analytics tools. Ryvyl may also engage in partnerships with other financial institutions or technology providers, which can create additional revenue streams through joint offerings or referral arrangements. These partnerships enhance the company's market reach and enable it to tap into new customer segments, contributing positively to its overall earnings.

Ryvyl Financial Statement Overview

Summary

Ryvyl's financial performance is severely challenged, with negative net profit margins, declining revenue, high leverage, and negative equity. Cash flow issues further exacerbate the situation, with negative operating and free cash flows.

Income Statement

Ryvyl's income statement reveals significant challenges, with negative net profit margins and declining revenue growth. The TTM data shows a gross profit margin of 42.68%, but the net profit margin is deeply negative at -56.37%, indicating substantial losses. Revenue has decreased by 21.71% in the TTM period, highlighting a concerning trend. The EBIT and EBITDA margins are also negative, reflecting operational inefficiencies.

Balance Sheet

The balance sheet presents a mixed picture with high leverage and negative equity. The debt-to-equity ratio is negative, indicating more debt than equity, which poses a financial risk. The return on equity is positive at 5.42% in the TTM, but this is due to negative equity, which distorts the metric. The equity ratio is not available due to negative equity, further complicating the financial stability assessment.

Cash Flow

Cash flow analysis shows negative operating and free cash flows in the TTM, with a free cash flow growth rate of -137.16%. The operating cash flow to net income ratio is negative, indicating cash flow challenges. However, the free cash flow to net income ratio is positive at 1.16, suggesting some ability to cover net losses with free cash flow, albeit limited.

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

• Technical Analysis Sentiment: Negative
• Last Price: 4.92
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RVYL, the sentiment is Negative. The current price of 4.92 is below the 20-day moving average (MA) of 7.83, below the 50-day MA of 9.94, and below the 200-day MA of 17.53, indicating a bearish trend. The MACD of -1.51 indicates Positive momentum. The RSI at 33.48 is Neutral, neither overbought nor oversold. The STOCH value of 20.82 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for RVYL.

Ryvyl Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
BLIN	49 Neutral	$10.30M	-3.26	-25.73%	―	0.16%	-36.86%
RVYL	42 Neutral	$5.38M	-0.11	-993.23%	―	-44.25%	82.71%
CETX	42 Neutral	$21.36M	-0.01	-415.08%	―	16.50%	―
DTSS	41 Neutral	$7.63M	-1.90	-93.31%	―	68.56%	89.48%
TAOP	40 Underperform	$1.34M	-0.11	-46.76%	―	-15.10%	-177.14%
HUBC	39 Underperform	$11.90M	-0.09	―	―	-30.70%	82.02%

Ryvyl Corporate Events

Ryvyl Announces Major Reverse Stock Split and Share Changes

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 Implements Measures to Address Nasdaq Compliance

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 Amends Securities Purchase Agreement with RTB Digital

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.

Ryvyl’s Settlement Receives Preliminary Court Approval

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.

Ryvyl Announces CFO for Planned Merger

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.

Ryvyl CEO Fredi Nisan Resigns, George Oliva Steps In

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.

Ryvyl Reschedules Annual Meeting Post-Merger Announcement

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.

Ryvyl Secures NASDAQ Listing with RTB Investment

On October 15, 2025, RYVYL Inc. announced that it has secured its NASDAQ listing status following a direct investment from RTB Digital, Inc., which helped meet the required shareholder equity threshold. This development comes ahead of a planned merger with Roundtable, which will see RYVYL undergo a reverse stock split to maintain compliance with NASDAQ’s share price requirements. The merger is expected to enhance RYVYL’s operational capabilities and market positioning, with Roundtable’s advanced Web3 media platform and blockchain technology offering significant competitive advantages.

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.

Ryvyl Secures $5M in Private Placement Deal

On October 7, 2025, Ryvyl Inc. closed a private placement by selling 50,000 shares of Series C convertible preferred stock, raising $5 million to maintain its capital requirements before a planned merger with RTB Digital, Inc. This move helped Ryvyl regain compliance with Nasdaq’s minimum stockholders’ equity requirement, crucial for its continued listing, although the merger’s success remains uncertain.

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.

Ryvyl Appoints Tod Browndorf as New Director

On September 30, 2025, Ryvyl Inc. appointed Tod Browndorf as a director, who will serve until the company’s 2025 Annual Meeting of Shareholders. Mr. Browndorf brings over three decades of experience in technology, finance, and entrepreneurship, having founded and scaled companies like Coggno Inc. and Hirehand. His appointment is expected to bolster Ryvyl’s strategic growth and innovation efforts, leveraging his expertise in building high-performing teams and developing solutions for workforce learning and development.

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.