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RYVYL (NASDAQ: RVYL) has entered into an Agreement with an existing noteholder to extend the repayment obligation of its 8% Senior Convertible Note to April 5, 2026. This extension includes a cash payment of $80,000 as an advance on the next interest payment due October 1, 2024. The principal amount outstanding remains $19.1 million. This move aims to enhance the company's financial flexibility and support growth in international markets. The company emphasizes its commitment to strong financial partnerships and long-term success.
RYVYL (NASDAQ: RVYL) reported a 49% increase in Q1 2024 revenue, totaling $16.8 million, driven by a 185% surge in RYVYL EU revenue to $7.1 million. North American revenue grew by 10% to $9.7 million. Q1 2024 processing volume was $994 million, with RYVYL EU contributing $755 million, up 28% from Q4 2023, while North America decreased by 33% to $239 million. Net loss improved to $2.7 million, a significant reduction from $8.0 million in Q1 2023. Adjusted EBITDA also improved to $(0.7) million from $(3.0) million. Cost of revenue rose to $9.7 million, and operating expenses slightly increased to $8.9 million. The company has $88.8 million in cash and restricted cash and $10.5 million in unrestricted cash as of March 31, 2024.
RYVYL Inc. (NASDAQ: RVYL) will unveil its first quarter 2024 financial results on May 14, 2024. The company, known for its payment transaction solutions using blockchain technology, will host a conference call to discuss these results, provide a corporate update, and engage in a Q&A session. Interested parties can participate by dialing in or joining the webcast.