- Processing volume hit
- Retains coyni to drive substantial revenue growth -
- Provides 2024 revenue guidance of
- Preannounces Fourth Quarter and Year-end 2023 Revenue, Setting More Records
Management expects to deliver fourth quarter 2023 revenue of approximately
- Strengthens Balance Sheet
During the fourth quarter of 2023, the Company reduced debt
- Provides 2024 Revenue Guidance, Continuing Strong Trajectory
Management provided 2024 revenue guidance to be between
- Retains coyni to Capture Substantial Revenue Growth
The Company decided to retain RYVYL’s wholly owned subsidiary coyni, Inc. and use coyni® technology platform to expand payment processing and banking-as-a-service solutions rather than pursue its merger and spin out into a new publicly traded entity. By maintaining a consolidated product roadmap, RYVYL expects to leverage coyni in both existing and targeted new vertical markets for better operating efficiencies and financial outcome.
“RYVYL is shaping the future of financial transactions; in 2023, we drove meaningful operational and revenue growth while establishing a foundation to rapidly scale our processing volume, number of transactions, partnerships and Banking-as-a-Service platform,” said RYVYL Chairman
“Our recently formed partnerships and expanded solutions are positioned to improve customer service, increase customer loyalty, and create new revenue streams. Further, by maintaining coyni and RYVYL as a consolidated entity, we expect to capture substantial revenue growth in 2024 and fuel long-term shareholder value,” added Errez.
Fourth Quarter and Year-end 2023 About RYVYL
The Company intends to report its fourth quarter and year-end 2023 financial results on
About RYVYL
Disclaimer Regarding Financial Information
The financial information presented in this press release is based on preliminary, unaudited financial statements prepared by management, for the year ended
Cautionary Note Regarding Forward-Looking Statements.
This press release includes information that constitutes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on the Company's current beliefs, assumptions and expectations regarding future events, which in turn are based on information currently available to the Company. Such forward-looking statements include statements regarding the timing of the filing of the aforementioned periodic reports. By their nature, forward-looking statements address matters that are subject to risks and uncertainties. A variety of factors could cause actual events and results to differ materially from those expressed in or contemplated by the forward-looking statements, including the risk that the completion and filing of the aforementioned periodic reports will take longer than expected and that additional information may become known prior to the expected filing of the aforementioned periodic reports with the
Investor Relations Contact:
312-261-6430
RVYL@mzgroup.us
www.mzgroup.us
Source:
2024 GlobeNewswire, Inc., source