The following is a summary of the Ryvyl Inc. (RVYL) Q3 2024 Earnings Call Transcript:
Financial Performance:
Ryvyl Inc. reported a third-quarter 2024 revenue of $12.6 million, down from $17.5 million the previous year, driven by sequential growth but offset by international revenue recognition delays.
Gross margin improved slightly to 38.5% in Q3 2024 from 38.2% in Q3 2023.
Adjusted EBITDA was negative $1.7 million compared to $50,000 in the third quarter of 2023.
Business Progress:
Strong growth in international performance, driven by PayFac licensing and banking services.
Completed two European software integrations and activated partnerships, enhancing regional expansion.
Expanded Visa Direct integration into 13 countries, increasing revenue potential.
Launched the Manna Card and expanded Payback as a service model in Europe, contributing to a $50-$70 million expected increase in monthly processing volumes.
Introduced a private label partnership in a high-risk vertical, diversifying revenue sources.
Aiming for continued growth in 2025 with a robust pipeline and strategic partnerships.
Opportunities:
The company expects Ryvyl's top-line growth trajectory to continue gaining momentum into 2025, driven by international markets.
Expanding product lines and entering high-margin verticals.
Strategic focus on underserved market segments for significant business development potential.
Risks:
Some challenges in U.S. operations and delayed software implementations affecting revenue recognition.
Dependent on forming new client relationships and expanding operational compliance for sustainable growth.
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