RYVYL Inc. Reports Q1 2026 Financial Results with Revenue Decline and Increased Net Loss

RYVYL Inc. reported its financial results for the first quarter of 2026, revealing a revenue of $2.5 million, a decrease of 8.5% from $2.8 million in the same period last year. The decline in revenue was attributed to the absence of non-recurring revenue that had been recorded in the first quarter of 2025. The company's cost of revenue remained relatively stable, increasing slightly to $1.4 million from $1.4 million, resulting in a gross profit of $1.1 million, down from $1.4 million a year earlier. The net loss for the quarter was $3.3 million, compared to a loss of $2.8 million in the prior year.

In terms of operational efficiency, RYVYL managed to reduce its total operating expenses by 27.8%, from $5.8 million in Q1 2025 to $4.2 million in Q1 2026. This reduction was primarily driven by significant decreases in research and development costs, general and administrative expenses, and payroll expenses, reflecting a lower headcount. However, the company also recorded an impairment charge of $0.9 million related to its right-of-use asset, which contributed to the overall loss from operations of $3.0 million, an improvement from the $4.4 million loss reported in the previous year.

Strategically, RYVYL has undergone significant changes, including the completion of a merger with RTB Digital, Inc. on May 12, 2026. This merger is expected to enhance the company's market position and operational capabilities. Additionally, the company has been actively exploring various funding opportunities to address its liquidity challenges, which have been exacerbated by the discontinuation of its QuickCard product and the sale of its European subsidiary, Ryvyl EU, in June 2025. As of March 31, 2026, RYVYL's cash and restricted cash totaled $5.8 million, down from $7.4 million at the end of 2025.

The company has also faced challenges regarding compliance with Nasdaq's stockholders' equity requirements, receiving a notice of non-compliance on April 23, 2026. However, following the merger with RTB, this issue was resolved, allowing RYVYL to maintain its listing on the Nasdaq Capital Market. Looking ahead, RYVYL's management has outlined a plan to improve liquidity through capital raises, strategic initiatives, and cost control measures, although there remains uncertainty regarding the execution of these plans and the company's ability to continue as a going concern.