RYVYL Announces Preliminary Second Quarter 2023 Financial Results
19 Julho 2023 - 9:00AM
RYVYL Inc. (NASDAQ: RVYL) ("RYVYL" or the "Company"), a company
that leverages the security of the blockchain and USD-pegged
stablecoin technology with near-real-time attestation capabilities
to conduct payment transactions today announced preliminary
financial results for the second quarter of 2023.
Preliminary Q2 2023
Results
RYVYL expects total revenues for the second
quarter of 2023 to be at least $14.5 million, representing a 30%
sequential increase when compared to revenues of $11.3 million in
the first quarter 2023 and above the Company’s Q2 target range of
$12.5 to $14 million. Q2 2023 processing volume is expected to be
at least $650 million, an increase of 16% from the first quarter
2023 and above the Company’s target range of $580 to $610
million.
Final recognized revenue is subject to RYVYL’s
quarterly review and will be released with the Company's unaudited
financial statements and related quarterly report the date of which
will be announced shortly.
Management Commentary
“We are proud to report continued strong
business momentum across all major channels in the second quarter
leading to revenue and processing volume exceeding our prior
guidance,” said Min Wei, Chief Operating Officer of RYVYL. “This
demonstrates the ongoing successful execution of our growth
initiatives domestically and overseas as our innovative payment and
banking solutions continue to gain adoption.”
About RYVYL
RYVYL Inc. (NASDAQ: RVYL) was born from a
passion for empowering a new way to conduct business-to-business,
consumer-to-business, and peer-to-peer payment transactions around
the globe. By leveraging unique blockchain security and USD-pegged
stablecoin technology with near real-time attestation capabilities,
RYVYL is reinventing the future of financial transactions using its
coyni® stablecoin platform as a transactional foundation. Since its
founding as GreenBox POS in 2017 in San Diego, RYVYL has developed
applications enabling an end-to-end suite of turnkey financial
products with enhanced security and data privacy, world-class
identity theft protection, and rapid speed to settlement. As a
result, the platform can log immense volumes of immutable
transactional records at the speed of the internet for first-tier
partners, merchants, and consumers around the globe.
www.ryvyl.com
Investor Relations Contact:Mark SchwalenbergMZ
Group - MZ North
America312-261-6430RVYL@mzgroup.uswww.mzgroup.us
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