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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% | |
55 Neutral | $12.23M | -3.53 | -25.48% | ― | 0.54% | 70.74% | |
52 Neutral | $2.02M | ― | -1102.76% | ― | 16.50% | ― | |
48 Neutral | $11.44M | -0.19 | -993.23% | ― | -44.25% | 82.71% | |
41 Neutral | $1.99M | -0.15 | -46.76% | ― | -15.10% | -177.14% | |
40 Underperform | $10.88M | -2.48 | -93.31% | ― | 68.56% | 89.48% | |
38 Underperform | $13.14M | -0.03 | ― | ― | -30.70% | 82.02% |
Ryvyl Corporate Events
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.
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.
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.
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.
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.
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.
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.
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.
On September 28, 2025, Ryvyl Inc. announced a merger agreement with RTB Digital, Inc., a Web3 digital media SaaS technology company. The merger will result in RTB becoming a wholly owned subsidiary of Ryvyl, with RTB’s business becoming the primary focus of the combined entity. The merger aims to integrate Ryvyl’s digital payment infrastructure with RTB’s media platform, enhancing revenue and distribution growth for RTB’s clients. The transaction is expected to close by the end of 2025, subject to stockholder approval and other conditions. Post-merger, Ryvyl will be renamed RTB Digital, Inc., and the board will be reconstituted with RTB’s appointees, while Ryvyl’s current CEO will retire.
Fredi Nisan will retire as Chief Executive Officer of RYVYL Inc. on October 31, 2025. In connection with his retirement, he has entered into a Severance Agreement with the company, which includes a cash payment and the vesting of unvested equity grants. Additionally, Mr. Nisan will serve as an advisor to the company from November 1, 2025, to April 30, 2026, focusing on strategic partnerships and corporate development. His departure is for personal reasons and not due to any disagreements with the company’s management or board. Furthermore, Forest Ralph resigned as a Director of RYVYL Inc. on September 26, 2025, also for personal reasons.
On October 31, 2025, Fredi Nisan will retire as CEO of RYVYL Inc., following a Severance Agreement that includes a cash payment and vesting of unvested equity grants. He will transition to an advisory role, focusing on strategic partnerships and corporate development, with a consulting fee of $10,000 per month. Additionally, Forest Ralph resigned as Director on September 26, 2025, both departures being for personal reasons and not due to any disagreements with the company’s management or board.
Ryvyl Inc. has completed the sale of its indirect subsidiary, Ryvyl (EU) EAD, a company based in Bulgaria, for $15 million. This sale is a strategic shift for Ryvyl, as it represents a significant portion of its international business. The transaction is expected to have a considerable impact on the company’s operations and financial results, leading to the classification of Ryvyl EU as a discontinued operation starting in the second quarter of 2025.
On September 15, 2025, Ryvyl announced it is currently not in compliance with Nasdaq’s Majority Independent Board Requirement and Audit Committee Composition Requirement. The company plans to appoint an additional independent director to regain compliance with the board requirement and intends to add two more independent members to the Audit Committee by February 27, 2026, to meet Nasdaq’s audit committee rules.