Ryvyl (RVYL) investor relations material

Executive summary

• Revenue for Q2 2025 was $2.8M, down 6.4% year-over-year, with a net loss of $8.4M for the quarter and $11.2M for the six months ended June 30, 2025.

• The company completed the sale of its European subsidiary, Ryvyl EU, on June 1, 2025, shifting operations solely to North America.

• Significant cost reductions were implemented, including a 42% workforce reduction and project terminations, expected to lower expenses by $1.2M per quarter in H2 2025.

• Management expresses substantial doubt about the ability to continue as a going concern due to insufficient liquidity to fund operations beyond December 2025 without additional capital.

Financial highlights

• Q2 2025 revenue decreased by $0.2M (6.4%) year-over-year; gross profit was $1.2M (43.8% margin).

• Operating expenses fell 68.9% to $4.5M, driven by lower R&D, payroll, professional fees, and absence of prior year goodwill impairment.

• Net loss from continuing operations was $3.8M for Q2 2025; net loss including discontinued operations was $8.4M.

• For the six months ended June 30, 2025, revenue was $5.6M (down 56.1% year-over-year), with a net loss of $11.2M.

• Cash and restricted cash at June 30, 2025, totaled $14.98M, but working capital was negative $8.1M.

Outlook and guidance

• Management expects expense reductions to significantly lower costs in H2 2025.

• The company is pursuing new business models, including licensing its payment platform and exploring digital wallet solutions for high-risk verticals.

• Additional capital raises are planned, with a recent $6M public offering completed in July 2025.

• Management warns that without further funding, operations can only be sustained through December 2025.