The following is a summary of the Ryvyl, Inc. (RVYL) Q4 2023 Earnings Call Transcript:
Financial Performance:
Ryvyl, Inc. reported a 100% increase in 2023 revenue totaling approximately $66 million. Q4 2023 revenue also increased 100% year over year to $22.3 million, exceeding the guidance range.
Earnings were realized through a record processing volume of approximately $3.1 billion, an 82% increase from 2022.
Debt reduction was achieved through exchange agreements, bringing the total indebtedness to $19.2 million as of December 31, 2023.
Q4 2023 Adjusted EBITDA improved to a positive $0.1 million compared to negative $2.9 million in Q4 2022.
Business Progress:
Strong growth observed from the acquisition of Transact Europe, rebranded as Ryvyl EU.
Ryvyl Inc. has collaborated with R3, secured CEPA enablement and is working towards full integration with Visa Direct, aiming to offer efficient, secure transactions.
The company maintained operative efficiency and expanded payment processing capacity by retaining Coyni as a wholly owned subsidiary.
The firm projects to process over $5 billion in volume for 2024 with a revenue projection of $90 million to $100 million.
Ryvyl, Inc. has plans to expand globally into Asia and South America, while focusing on transitioning processing capabilities, exploring partnerships, and considering new market penetration verticals.
More details: Ryvyl IR
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