The following is a summary of the Ryvyl Inc. (RVYL) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Ryvyl reported Q1 2024 revenue growth of 49% over Q1 2023, largely driven by international results which saw 185% growth, although revenue experienced a sequential decline due to near-term impacts on their North American business.

• Q1 2024 processing volume was $994 million, a rise of 5% from Q4 2023.

• Estimated full-year adjusted EBITDA to range between $1 million and $5 million.

• The company ended Q1 2024 with a cash and restricted cash balance of $88.2 million.

Business Progress:

• Ryvyl navigated regulatory changes and compliance issues in high-risk verticals in the US by exploring new verticals and enhancing product offerings with a transition to app-based processing.

• Recovery of North American business volume expected by Q3 2024.

• The company is continuously investing in tech development and has initiated strategic international partnerships.

• Mobile app payment channel and MPOS capability for delivery businesses have been officially launched.

• The company is transitioning from hardware to software, expecting improved margins and better inventory management.

• Regulatory changes have prompted the company to adapt its business practices, especially moving towards more secure and transparent technologies.

• Several new products and services are in the pipeline, including mobile apps for Europe and Ryvyl Block. Coyni is set to expand to Europe after receiving required licenses.

• While focusing on growth in Europe, Ryvyl is mindful of opportunities beyond Europe but is focusing on efficient revenue growth before targeting niche markets.

More details: Ryvyl IR

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