- Earnings call transcript Q3 2022

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Operator

Good afternoon, ladies and gentlemen. And welcome to the RYVYL Third Quarter 2022 Earnings Conference Call.

During today's presentation, all parties will be in a listen-only mode.

Following management remarks, the conference will be open to questions. The earnings press release accompanying this conference call was issued at the close of the market today. includes ended results filed September SEC which the operations with report today. months three XX, quarterly the of company's for the The XXXX, was Officer, Chairman, call Wei. Min Errez; are our and RYVYL On Chief Operating today, Financial Drew Officer Byelick; Chief Ben those remind including future I'd and like on call that everyone to financial made results. statements today's webcast, regarding differ described that may number of a the industry And could actual subject cause be prospects those are forward to materially results call. to and in looking uncertainties from and risks Please refer regulatory company's the of associated filings list to for risks. a The available section. replay the XX of company's this the on call and webcast will days Events for be website the under next time, Errez, this over like Chairman. call the to the At Ben to I'd turn company's Ben, is the floor yours.

Ben Errez

payment set we $X.X is again the nearly core quarter, growth of our quarterly the the have pleased volume be the once quarter in processing on I XXXX Today, company, is year letter, necessary report our to In Earlier delighted the our call. CEO results that Hello, we third and XXXX during transition to during an accomplished RYVYL. our thank to RYVYL financial you we a And I'm financial disrupt we third look of you that It as metrics volume. couldn't tremendous key begin, to the traditional repositioning momentum. share earning call this record this significant the that of billion. landscape. towards place focus we to progress update put third conference know the as more and first in a for achievements time of our To a quarter. processing infrastructure year for be would joining our

sales during period processed XX% XXXX, approximate internal note, nine our solutions. of first XXXX, an of marketing same indication an also our quarter of volume XXXX, a second transaction the team For macroenvironment. compared incredibly highlighting the technology's to successful an this blockchain the and represents scalability, driving increase edge nearly double potential our growth, from financial in challenging leading we of the even To the adoption remarkable months

Given the Reynolds, payment forming that brand high with partnerships, the our who the to a in of process expectations believe of seen years, expanding world personnel, to growth the past advancement industry. hiring on This vital in continued and is create the solutions, geographically the we new Chief Marketing technology tirelessly key remarkable worked Officer of knew FinTech deliver is we've and Jacqueline next the to spearheaded class our that two the the for Annual rename we time unparalleled Meeting, continued of began of was to already resounding audience and right our our expansion, global evolution received of our blockchain brand end, initiative payments showcases aggressively. This recent development To a identity. as phase and offerings stablecoin pursue by to our processes RYVYL. and RYVYL we at remarkable have approval the we was shareholder that General to solutions, the company

along with website, strive new of awareness TBAS. in drive and Shifting to gears and number to public activities, ahead. launch the Bank You heavy Territorial the now other relations RYVYL Samoa, we can a American the as media of launch of expect activities, social new weeks our platform the with

a significant XX% payment as technology market in traction that the exclusive made quarter with island's share recall commentary, may our You second discussed we provider.

solutions. over share with of market also the and and residents the have in but our unique significant costs, end payment developing solution. diligence to technology market reliable ecstatic since the times team, payment quarter, settlement and innovative is blockchain-based the the nearly short adopting not our modernize that the are These island only technology the who as they improve introduce extremely report our solutions appetite new their This stablecoin XX% for level at the share. achieved and territory, to third the of of have look trusted Now, of demonstrates cashless reduce security for we we as a island. focus time of the our deployment surge economies, A are economy

third RYVYL we Samoa of me growth Our driver solutions, to ecosystem opportunities way Play, for closed This be enjoy which expect leads loop the the during a ideal alike payment their Google will and launch download October, palm security available speed pave in their the take dollar U.S. for to an keynote serve as achievement is study the around advantage the and stablecoin desktop. world. our quarter, hands Store. American the which for transformational RYVYL. mark from case another on Coiny, the the and stability transactions, App of with of and along our Apple on and Businesses individuals the of USD-pegged to now of can blockchain

is ensure SOC Compliance the distinction firm to one U.S. the Coiny few specifically technology review most the of real X that at the account via of time near from One in top Armanino, IT the and station became industry's consulting points and compliance, of custodial Certification LinkedIn significant of accounting

Coiny interest have not one does what restructure that utilized the our converted significant our terms reducing investments burden to maturity terms on severe November Thinking cooperation not a market a custodial million in The stock, into institution. a originally the U.S. to with year are federally dollar cash to are disruptions. note expense to by safety the XXXX, providing company this took to in our attention the also of the measures $XXX and of the compliance securing in X, market convertible come a the option entered other and up to highly cash is on able current to cryptocurrencies. financing, to token to and interest financials. which while Competing to stablecoins failed, have Now held the XXXX. balance extend we financial were platform not environment, leading Each renegotiate a sheet matched heightened one and mean? in and that digital account noteholders, Through held of a and November coin tied back wallet we initiative valuable pay RYVYL dollars insured therefore improvement in with in with flow

of processing market capital, grow in assets and like of discuss acquisition Financial, Europe. ChargeSavvy, as Historically, with to environment, key the the a licensing contrast, I'd In pursue Transact select to as such Additionally, Sky of no our funds cost longer and today's soaring much and context looked accumulate organically to again, is growth acquisitions strategy. to given focus. raising we've volumes, like

differentiated benefit of believe launch our increased and to scale the are best well-established continue path relationships and new advanced quickly global we identity through our capabilities, infrastructure payments brand stablecoin, is from that technology. truly With companies with the Coiny to

we addition, to pursue conditions. will select current market In M&A continue suitable strategies for the

Welcome details our strategy, on With introduce of to whom report of Chief we Financial third this our the of we As a I'd will evolve this, brings board XXXX. like in to the brought Officer, walk we quarter growth We're more continue shift. Drew Byelick, new and tremendous moment global of Drew his and the experience results. technology, have depth details middle and through us market software, functional and a experience the with to thrilled incredible Drew. financial truly to of team. industries. on industry other startup take our Please breadth

Drew Byelick

be part date. the of be for to excited of to filing breakdown team. at I'm will a release full key your be A in our distributed introduction, will kind you later limited in the portion is our Thank My press Ben. available XX-Q results financials. and that

and EBITDA adjusted to referring other be I'll Here, non-GAAP measures.

XX-Quarter MD&A the For of on non-GAAP the calculation refer the will to which filings. be available EBITDA company under and SEC website other adjusted measures, the the please

$X.X in or grew months for the Revenue September to $XX.X $X.X ended XX, XX, first company September new a million months from the record, increased Our QX increasing first three to months accordance fees revenue September standard in million for September Gross nine with quarter XX by XX.X% $XX.X of the $X.X for total months period. by or volumes increases to XXXX. to activity million XX.X% net same XXXX. total offset XXXX, compared $XX.X XXXX, in million to for ended profit $X million a from and revenue quarterly three for partner. the to XX% nine processing million revenue XX million ended ended by a agreement fraud Gross was growth The the and of contributing processing gross or the our to XXXX or fees. or September million, the XX, XX, in million, net $XX.X net ago. ended the XXXX service prior XXXX, in or penalties nine three Also profit lower profit of change same charged XX% to million, ended million $XX.X includes year revenue minimum merchants in months the revenue the transaction from in $X.X net revenue compared for months of profit of same of three month was year XX.X% compared period XX.X% commissions net year-over-year $X.X or the for total gross total September

primarily gross net payments profit with higher sales fees which and ISOs. driven margin negotiated primarily to to to be are and will was paid revenue ISOs, decrease cost our gross of The due gateway processing in structure organizations commission Our by independent commission fees. gateways

our primarily directly revenue payroll, our Now including and net million. point expenses, include expenses of amortization. I XXXX due research correlated are expenses our our $X.X general and non-cash for because operating as let's million $X.X expenses, employees operating We we compensation to operating Once service million in. operating categories, depreciation QX, operating operating to as out that providers, gears for ordinary for marketing, include and increase and our a respectively, professional from would our operating not small $X.X technology, scalability of like an business are of development, operating the Ordinary employees, expenses. revenue, and and and of two to non-cash into again, XXXX well shift expenses stock Ordinary fees expenses. expenses our distinguish number expenses were with while expenses and

QX, The prior services. operations with million but ended were $X.X million primarily to loss rebranding nine ended the due XXXX was prior from development, nine ended of expenses ordinary payroll expenses nine and $X.X compensation approximately Our XXXX, September of XX, a due to and of decreased the Non-cash marketing issued a and related employee stock expenses from stock months $XX.X same and compared the for $XX.X $X.X million We payroll to in September year the operating XXXX software months for and XXXX to quarter operating months million, taxes. lower loss million respectively. XX, year. million $X.X primarily increase

operating the nine months ended increased and of September remain The of in derecognition same $X year. $X or $X.XX period and share increases same per expenses loss loss period the loss debt of interest the note derivative the and the for ago. to share in financial cash million the XXXX loss of or the Other convertible and well in $XX.X payroll convertible million $XXX our nine previous prior nine diluted the favorable summary, for third XX, $XX.X net conversion XX, share, The breakeven. September change changes in of diluted culminated the $XX in operations $X.XX $X.XX million value related to for positioned expense and to our loss the XXXX million a in The million note quarter is related same third by general QX over cash due liability. September in million, compared liability million Adjusted and prior the of the were XX, ended the and company basic offset ended position short from value September or loss XXXX of recorded continue quarter compared offset year to million same of a in per months quarter. for fees and to the us in net with and in million diluted expense administrative, period a from of a operations company of We nine $X a we $XX.X fees XXXX in derivative growth million year. in as XX, the months and of And million infrastructure net per increased basic as expenses. for compared per the same none Interest by the net ended favorable staff basic and growth months $X.XX of November taxes net the on was issued million year For of ended sustained we The XXXX, $XX.X the discount primarily fair add $XXX with a a million nine by $X.X XXXX XXXX with amortization loss due to $XX.X increase to basic September fair the share, XX, net XX, year. September of was associated research months and XXXX. and related equivalents the the strong prior to to just of and or a for the development, and remains loss diluted expenses we profitability. of of professional other quarter $XX.X and note, quarter EBITDA increase future payroll ended

outlook the Chief the So Officer the with business that, I'll Wei, to of our turn balance Operating review over a XXXX. of and to provide operations for Min call

Min Wei

Drew. you, Thank

ahead processing the projection, in at volume time an done before XXXX, nearly have material hit across contributors channels for $X.X outlook targets period. looking volume the and billion, compared through update us I higher improvement. our walk months of the about to for prior our I'd our XX% calls, year. take conference the On approximately XX% turning about like first, a of is QX while $X.X for our to processing the XX% the to basis, all remainder provide than this we're year-to-date billion, a processing which in revenue to volume As same nine of is

increase process increase new our is ChargeSavvy in the also exceeded to volume expectations at a processing In period Sky to approximately Our million higher portfolio, $XXX QX, is business, our XX%. is XX% processing When ACH channel XX% moving over volume quarter's XX% the more QX of our $XX favorable. acquiring in we business, $XX QX. the this in QX. with We're a volume, planned, in to saw million processing about same which compared service capacity. by than million, including Financial XXXX, currently

As a pick we new up to result, the monthly we volume QX, in platform When are behind $XX processing million. the is ready of steam. targeted expect

international is our FX million conversion line, we $XXX our For Transact of attributable higher budget business and FX estimates for million than including and payments payments to the is which reported original Europe, in transactions. volume, volume international XX% business $XXX quarter. over This

let's Now, update on American Samoa.

apps and we've from platform work QX. launch, our zero days, to on achieved marketing we businesses to QX. approximately that market. Coiny, and were before back on baseline our October incredibly $XX have beginning the nights services of rolled rolled X and the launched for over teams time representing the was overall as and Android XXX in the the development, we residents the accomplishment of of process Phase literally ahead launch pleased the on are initial schedule, both an merchants, amazing share to at been target out This platform end island. Getting of on and We This operations iOS to the as XX% weekends nearly the QX, promised and our Since merchant goal XX. out able to million a is

and to foreign As additionally integrated technology, part capabilities, Coiny be Coiny we payments into of designed the system international we as plan have an the module. to FX which fully exchange

payments international the in its gave the module fully million about in full potential integrated, starting confidence business. the While not quarter $XXX us volume the is of

to QX, for for In our We with to enable that thus year. to like will the on these With the strong I'd next addition, of share remaining tuned Coiny we a follow on far, us accelerate more Coiny. partner are the domestic a current developments you estimates ask which banking scheduled performance in second to stay volume onboarding quarter. allow

$XX.X processing For billion target with three billion process billion. $X.X from total closed at million, total $X.X first billion the XXXX to a including $X.X to billion. onetime expect projecting quarters year processing accounts. we of QX volume, is billion and QX million line to $X.X regular $X.X is $X.X processing billion fees our in legacy This in $X.X around $X volume Revenue of million and $X of in to revenue a from

a $XX $XX We solid to and revenue million. expect see project total at to million a year QX

a is quarter. very EBITDA which breakeven quarter's negative proud EBITDA adjusted the is QX for Our accomplished $X.X the improvement have a We're just performance last adjusted tick million, $X.X target from below million. this minus to major

and the Our processing about launched over QX, updated goals QX a optimistic vast begin to trading scheduled, Q&A. Chairman to our adjusted zero for truly and million. growth this, Coiny turn projection the Ben I'd EBITDA now as Overall, our trajectory. positive back our we to platform the Errez, to like of is near-term around majority $X in call remain our With hit

Ben Errez

folks your interest and this RYVYL. call. listening commitment the Thank to So to you for

We Q&A begin our are for genuinely grateful that, support. With like to session. I'd ongoing your

and our including of In Fredi answer to on much. Thank are myself, Operator, team addition to other hand Nisan, please Drew, of Jacqueline members Min you executive leadership begin. and so our questions. Reynolds CMO, CEO

Operator

Ben. you, Thank

conducting We question-and-answer a will be Instructions] you. session. [Operator now Thank

is Our with your first with question. Please Brothers. Halpern Howard proceed question Taglich

Howard Halpern

Congratulations during lot the a achieving quarter. guys on

Ben Errez

Howard. Thanks,

Howard Halpern

QX trajectory low-XXs you results in we from an start point the gross that see that into out seeing it at this the where are we'll third year, creep on we reached inflection there, quarter? Based in have in and the margin really

Ben Errez

is Min, go part will this next of ahead. I Min. and direct question for the QX to This projections year.

Min Wei

bought the you beyond overachieved reference. as I great billion had basis Hi, indeed, Ben. And hit $X.X points we would We for say volume. about yes, Thank question. you and QX, of for XX the

that, much adjusted to for we're EBITDA number to breakeven a quarter. As pretty of result get a the able

contribution margin coming up. gross to So, see improved we expect further

Howard Halpern

own? a and less, more and expenses your And do gateways to more or able you're to that it ISOs and in that's related on reduction from

Min Wei

a margin comprised in side, launched a be things. continue acquiring Coiny few platform. control on improved But business. drive it's obviously, further we'll gross closely, we of gross It's to of space we the process able combination as out the monitor more, and high-risk margin, a because continue of off to to cost a Well,

as We development efforts are as R&D continuing product costs operations. well rightsizing the other for

Howard Halpern

And if you partners Okay. much I bank? least put put have as in escrow for of know you put how second now, partner? Coiny. the funding initial And in disclosed, are to in to looking you've for officially your don't in money terms

Ben Errez

Howard. question, that I will take

BXB not additional So Coiny, a seeking for we this focused self-funding. moving be at it funding it time. would on forward Therefore, is is such, and vertical, as

Howard Halpern

Okay, And don't with American gained from how receive that it sounds you kind receiving but been or of what really good. of receiving momentum I what what know you'd whether reception you the receiving there? operations your are terms is far that from merchants? the the in from have you've you feedback been have so Samoa, customers,

Ben Errez

I again, will to direct us the Min. question

Min Wei

It Howard. is question a great

lateral American number banking the received within directly of XX% on months. the base $X mentioned on processing from earlier, has far. of As to basically the McDonald's, basically monthly from of the The reward we been on just the [Indiscernible] The fantastic. Samoa. as feedbacks feedbacks gone It's million Territorial call of well targeted merchant our Bank zero experience [Indiscernible] partner so close the basis, like has to All business merchants, restaurants, the volume well a on achieved payment as including to through island. island the

or coming Our next the partner up volume two. in further receive expect quarter to

it's well. So, going

Howard Halpern

develop the fully of year Okay. are sort developing American into is waiting pipeline Samoa, others Samoa the that there or might are that that of halfway till guess, you are like next I now kind American And deployed? occur pipeline to almost in since you're

Ben Errez

Closed the potential other Howard, has and are over we see systems. again, all Thanks, inquiries systems thoughtful this Ben? do loop for world. Yes, similar question, already, by the a

duplicate by We several platforms Samoa. success for American been approached the and have technology to

title. any several They will yet We disclose definitely at But course. discuss of have due are point the those in not opportunities we where we that. on would

Howard Halpern

basically Q interest see I change, in looked one this $XXX,XXX quarter. the in at diminishing we expense and could yet, recorded but discount that that see significantly the the haven't and we that question financial towards zero technical then the the with convertible I quarter? debt guess, from Okay, third I dropping in

Ben Errez

direct will Drew. Financial I that to question Officer, our Chief

Drew Byelick

was I on mute. Sorry

debt obviously parts not the have point in conversion affected the in expense to discounts of The debt. debt this With values conversion the holders taken time. we the rate derivative the particular conversion we related and in and is but stock the reduction an reduction of to interest down by is can't of at debt, the recognize predict those the rate from

Howard Halpern

Right but get you've in part it that in now that discount the because in now of assume that of the already stay or already you've from should most that? taken debt

Drew Byelick

by debt was The reduced the in the the quarter. reduction in discount

Howard Halpern

Okay.

just that great. you And guys work. the sounds Okay, keep great up

Ben Errez

Thanks, Howard. next? Operator, who's

Operator

proceed Wainwright. your is Dede question next Our H.C. from Please Kevin with with question.

Kevin Dede

could too Ben. to level this run through don't Hi, kick you is self-funded? with example Maybe call, how of if just transaction Coiny it can deal sort you want you But illustrates high a for that it. and

Ben Errez

this question Nisan. will CEO, I direct to Fredi

Fredi Nisan

Wainwright. Hey, Howard, from sorry, question. you? for H.C. Kevin, Thank how you the are

Sorry about that.

in funding a We needed So for will hours way for business this wallet. wants, business access ecosystem don't and then find Coiny the is but other the coin and or find their the different point, to certain our if if everything for with affect, it the released can invoices, request money processing, then payout get from basically example, related space, then these funds do things, or we transaction card credit a he send businesses, When happening. hold have we money we needed, instant funding see we XX wallet when comes itself. liquidity in it BXB vendors in is at coming his and will money, to do the BXB, own

Fredi Nisan

I'm but expect how help that me to engine to tokenized platform using vendors also recently to your coin, you've you'd has bank tests processing just this, developed. seen New to transaction one by was similar very started versus blockchain-backed understand seemed be you how that -- and not testing the that central Fed? How folks Fed one offered me you'd a to their a you expect York The sure digital be have successful? Can come the should

Ben Errez

Kevin, thanks for this question.

my is view. this So

great or thing sets grab traction, Coiny. up step Coiny will larger the space. legitimacy enter oversights. I as And provide as built that The for and the same next development same larger technology integrate can is have the for Coiny's is the the industry banks in pilot, continue the to player. is player, superior regulatory as future the that government to agent, equalizing an think smaller track. be or so this to necessary general, the able with major a capabilities can infrastructure banks down the

this this as We program continue pilot expect place. trend to takes

Kevin Dede

Okay.

know perspective you a obviously, sort halfway your balance of basing any through Ben, of prepared that this type year. close how step at deal. characterize, You're and quarter, a acquisitions reset currency taking give the not valuations, but would new year? objectives to -- given spoke mean, of looks and remarks, of opportunity. you this use looking and I you just pull you're the You're your trigger on a hoping in sort us to general mean, Could I know could I I'm what expecting on through back market your we're the you to your

Ben Errez

Again, this for thanks insight.

does in hauled standard M&A likely. we activity all a less to obviously, as raises capital mean is debt This powder are equity dry stop. and that the So, are interfacing, not markets,

note an forces our market to in reset context and businesses. accredited the both need be We the several other looking with opportunity to existing opportunities books, when these million of cap are still we Obviously, on at join will $XXX opportunities.

I that to happen happen, We the that in that correct see the are you maybe the in QX, completion Although that And it quarters. this do is are think in days we'll highly of such when a saying expect couple activity. will future unlikely nearing. do near of next

Kevin Dede

are Do an of teams, a there management the the just better an how are And met Can there's investors have opportunity privately -- guess exit maybe that that and target think they that looking give companies environment? you you I you just see for are or us realized idea scale. held

Ben Errez

The second is more likely.

that act businesses anticipate not scaling the the a both quarters current to our will I'm We be That into And as some would rebalancing stagnant after road. equity an to this is it model will vertical be up to extremely meaning will accordingly. months, additions markets revisited exit five I has and looking accretive will be anybody. traction of accretive business that. equity true a to Also, such business at to Greenbox and the we're four they that maybe as are a XX accretive event, be Also, be and have businesses We realized potential will here value don't to for both for lines, up We have we now metrics potential to duration, road, provide to have to to through discussing partner. maybe to in a that remain something our some perhaps XX maybe seek provide opportunity, obviously, the date. to this we the months down have looking to or RYVYL look down do rebalancing in business, true future.

Kevin Dede

sales marketing now, and cards Europe? engage in to approach you're touch obviously And and where is you level here your the on businesses FOREX offer a processing given Coiny on you where both in Okay, high on U.S., have view further could opportunity with just businesses the the credit the side?

Ben Errez

to Min. that direct question I Okay, will

Min Wei

Hey, this a I'll right. great way, question. Kevin. It's put it

business, covering look both have high way risk sales growth or market that foundation we for margins further risk that we is we how space. strong pursue So go Coiny a low and the and to at

have opened our strong in new near to to market we term we verticals partnerships, can will table. So business the addition that, has see that with domestically up been the we platform, in plan additional or see through two launched that verticals, bring one

for to transaction business users, we partners and off-ramp that that, processing, the end on-ramp In for capabilities. both through addition for the BXB the see customers,

the do Atlantic very you As how we European unique see at, off the to Ocean. to can FX that various licenses ramp space, as we in that, the But also, we for a have in addition payments well. international we and imagine for given business of both on-ramp also presence even have, look that already, sides business leveraging market complimentary

as optimistic across between multiple as the well Ocean. verticals very sides to geographics of I'm the volume So, see growth the the Atlantic two

Ben Errez

Marketing, Kevin, of Jacqueline, from ahead. another view for I'm allow to go going Chief Jacqueline. point

Kevin Dede

I Ben, thank you. that, appreciate

Jacqueline Reynolds

media, to we really sure Ben And not engage augment of I that the and the are understand really pragmatic a in really just to to and social a we're want adopt another this Obviously, customer, we what progressive information public to brand. them and relations, for, is. be of from customer stages going necessarily Hi, have it's that piggyback sales the standpoint. potential awareness. pragmatic, marketing we target the to using done standpoint, to as is. saying, and a Well, It's Kevin. of BXB who biggest But we've view. is lot ton of research sort point such Coiny in of platforms very with launch, quite drive From work we and has bit will the Coiny a nascent who this on support, named of of see progressive case, know we a disposition who sort was make who people

you gives little So marketing on of a front. the background bit that

Kevin Dede

I in were RYVYL understand the still able of if that rationalize ex-Greenbox, then -- you're in Could brands mean, now to you, market? market, processing water customer You've to bridge, help the Coiny. offering, under entire and on maybe us two a able you're both quantify the got they're but help of understand, That's how on how customer and generalize gone. transaction that's me to basis? per volume target And the you how amount Jackie maybe a the that terms also

of understand advantages? their So are to both brands me going and help how communicate those you

Jacqueline Reynolds

am the I And Absolutely. tackle question Kevin. going first, to second

marketplace the Coca-Cola our is So the brands tackling in of from us two all launching stable any other their the It's offer mother is the the RYVYL is brand. the roster. that brand that with for their what or of we umbrella Company does brands, on Company what with products stable to Clorox does not different sort the brand.

to we we And I Coiny are to in our brand. and this just sense mentioned. want to to is target drive want that be we ensure that The of mother obviously, a our and Coiny, so, we that laser-focused going really awareness the trust truly And are reason, for security investing drive workhorse. on with

own each our that messaging, et our brand we differentiated. cetera. communication, are will Possibilities. on sure if you'll But and their of is Provoke own one some make notice has their So positioning two tagline those And

one RYVYL all that possibilities the others. provokes So for is those

our sales and to to second, very, distinguish to exactly our but actually what to The question, to are, volume closely that in one going a second really opportunity. it turn customers we're team that with Min I'm channels number target who quantify working very over put to

sales with the take you. you'll conversations if Min, So

Min Wei

metrics. Kevin's you, ways Jacqueline. Thank And really the to look Yeah. to help, at couple of a

reliable One of metrics, we metric. established monthly day, see of already and location, volume number the locations that's comfortable the pretty very philosophy is this and pretty merchant with a we're every it per processing

of with be work with volume we've been ISOs share them to other point able that we we'll We've I'd putting partners like agents the hundreds on until ISOs. to bring to standby and and you the platform, the launched basically now have through. Now, is

So We new thing already verticals. verticals the over up metrics for board. user have screen in plan on we good bring to the

our with We be call we are ongoing plan will steady the articulate that. diligently this on share part of and able we'll verticals new Obviously, working and the as metrics guidance. particular to for as finalize business XXXX

question. answer that's So, probably you. quick with that's to okay Hopefully the the I think way

Kevin Dede

I we revenue I appreciate, should internal at maybe sequential increase from also wondering it March this look One -- in understand and you volume Min. going based there's entertaining what on kind change, I'm you've can Jackie that's I both think and think your the you for sequential to said. trend it. forward? But for was Thank one a improve? No, I the for I much how increases And wanted And this nicely processing percent year. addressed that And of Yeah. gents scale. that It's get Howard you just How sequentially and me. that already. more it. those, positive improvements, in last Thank of you. appreciate I

Min Wei

put open-ended way it it's Kevin, an this question. --- I'll

Kevin Dede

my way, what Min, find done job. I've then you that If

Min Wei

great You're job. doing a

we business have now, will know Really, it verticals, right percentage sales we that, we this way. they is, we know to what for once know targeted expect continue So the a so I'll pipeline. in generate have do put higher the We our visibility roles because that. we average put We than have residual we cost strategy. pricing our base

be to for business we each ensure an major verticals, way for longer it of as our to articulate math and with business the lines be term the out. closely such forward Going to will revenue we'll new volume will get segment that so CFO we look to working into and that as corresponding analyst the at and continue be able margin able model

Ben Errez

to I segment business we will little a basis? simple insight distill an for mind, Min, to us So, was that lines start give break could that if RYVYL expect down more operating on my and

Min Wei

correct. That's

Ben Errez

data break give I of lines that And calls, in the tend you my the down even see earnings them the operating each during to and business points? area, highlights by

Kevin Dede

are in they be Okay, or the are Q in Q? those those will figures the

Ben Errez

down, not They're be particularly scale, to we QX. continue will Obviously, hit break a at compliant them probable currently the be drag the time we'll into certain and we in as rolls and queue. looking to

Kevin Dede

of definitely Okay. for That but business I sounds really very related, you necessarily really, attention. my Apologies Thank appreciated. of questions. Thank you perspectives. so the everyone, much, great. many much. entertaining and I'm that were business, time strategic sort quarter not appreciate them so

Ben Errez

Kevin. Thanks,

the Going back to Min. your point, with

breakdown earnings. the a overall to through of call, contributor transcripts this go or just section, to as by verticals see you'll you If and the listen Min's

began further market don't and of to to and doing we questions time. and have one clarity. We issue. And stakeholders we'll in questions have need this. please in to operator, have runs scale grow time. breakdown we But further the then we I the particular an bigger, and three as from on cap ahead So that this the anticipate I a that, lot that. keep I time in wanted we And as submitted of will about until that I provide of already as it get particular, different and equity to want do appreciation, we obviously expect some we But that. and received out. actually, And us continue call. And one And honest calls address were was on analysts week, traveling last

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no space are Department can coverage current all Fiat, not adjusted price collapse negative no on that is So to space Operator, Fiat, personal The will of An have altcoins and pegged detachment the of FTX is of from values. that and will related be to calls. Bitcoin is likely potential that commodity. in be crypto stablecoin a has hedge the for both the further Fiat push oversight oversight multifaceted and support there less be compliance equivalent here. my better it it. matures, Treasury fast RYVYL, it for impact answer is there as eventually this money Regulation of no as by they their the government. remainder increases the will decreasing advantage assume have And Stablecoin for is direct whatsoever. will And properly and reporting need to the I intrinsic the the than bipartisan administration, has increase question. and and being will value. or opinion as would main

I So on can continue written.

Operator

question one queue. We have in

Ben Errez

ahead. Go

Operator

question with next Sakai with questions. Chris Singular your is from Please Research. Our proceed

Ben Errez

Hi, Chris.

Chris Sakai

a just burn. it million. burn what's look the are And about Ben. quarter It your going looks like question to this? like had on for comfortable How cash quarter? with was cash next about you Hi, I $XX

Ben Errez

this Officer. our Chris, Financial Chief I will Drew a direct question to

Drew Byelick

then operations improvement results in deposits going UK, in quarter, obviously supportive Coiny the the of maintenance do some small well and quarter in for used in fee, the improvement supported development given most related Well, most to made see operating project the -- we there. as in is role completion operating Europe. more licensing into of in of also a project, acquisitions licenses and the of We've an also technology QX, by the in cash as

Chris Sakai

million $XXX right? for that. for this the And had thanks that So Coiny Okay, did volume what was I processing then said? Min quarter, hear

Ben Errez

to I Min. will send that

Min Wei

Chris. Hey,

business, the FX the we It's and million but what in we integrate we that payments We to not fully just it's consider foundation that FX of about be for connected that $XXX international So to it. we have starting intend to very volume. plan processing the module. Coiny. - space, yet, module clear That's for

Chris Sakai

-- example for So

Min Wei

corporate of we payments to a spot feat every earn a we conversion, payout example a a fee entitled revenue. time for foreign the for space, international Each do So exchange of each do time conversion. for we we're

Chris Sakai

Right.

Coiny? then forecasting billion the Okay. for How much $X.X that year, billion. Thanks. coming what And $X.X you're to is from of

Min Wei

we me. We seeing -- which do I be I so FX volume have million get And might don't maintain to I eventually showing is module. $XXX the in you, start But Chris. and Coiny the will the have know on Coiny. the a we the of back FX, necessary communication to start with you. have -- do have up data front we the

get back I here. you to sure number me have the an to you on the number give So incorrect rather get to probably I phone right make give than

Chris Sakai

what Can see as you me. far provide volume for last partner? second from as banking color and any you'll processing the of Okay, sort

Min Wei

good very Well, Chris. question,

address Okay, question. actually, like to Fredi the Over Nisan would Fredi. help you to

Fredi Nisan

Pleasure many to hearing profit you. Chris. for In what's support possible us important grow to in to with Hey, and volume the regarding as partnerships from different as relationship, volume countries. banking add the is

very of in growth Coiny. on volume for of volume. of the expansion business of that the in the going different support in on that end relationship we're And It's about part have hear in that we course, them, we put the we to partnerships. the the global our engage banking support reason, U.S. of of more and to channels. you working QX, have So not want it but to soon, is one we expansion Coiny. In need the about in And Europe, as

Chris Sakai

Okay. then Cross mention And about anything you forgot that I a going? How's River. to ask Can there?

Fredi Nisan

the in I already mentioned partnership on banking contract taking with as PR, related them, RYVYL time a absolutely. longer together are but takes creating the Yeah, than it's Cross and product. expected. have some River longer as working We

into for knowledge, the a freeze of all call, in just of time out this Chris, your January. until going on there So of the the and year, acquires everybody the beginning usually banks November,

other year. So of quarter have progress, hopefully we next some and -- first great it will delay of things But that, first of some a few soon. we than announce those for can

Chris Sakai

that, thanks Okay, Fredi. for

Fredi Nisan

Thank Chris. you,

Ben Errez

Thank you.

assume I'll Okay. done. Chris that has

add to operator, you anything? So want do

Operator

it turn question. for I'll any to No, Ben, back you, writing

Ben Errez

Okay.

And BXB? elaborate would scale writing. on last if you're address one that expense So it? I in the is, strategy wallet necessary Coiny direct in Is Min. like company the And the that for R&D focused will question to submitted and you beforehand the to I was can question team to

Min Wei

This Thank year, Coiny in launched our result, as you, successfully platform. Ben. we a efforts invested R&D and

in the And Our future accordingly. ecosystem support on business functionality yes, to label foreign platform continue in development and we to the BXB work international product we'll volume business, solution, by as payment exchange our roadmap work. expect see in business on Coiny, and we acquiring API payments in transition focus growth volume increase much and to

Ben Errez

everybody great you your questions Thanks, support, and call okay with before are Operator, and that, continued concluding Min. submitted today's And to for it. conclude. we are Thank this during you, calls.

Operator

Thank you us for today. joining

You may your now Have day. disconnect lines. a nice

Ben Errez

Thank you all.

Ryvyl (RVYL) 23 Nov 222022 Q3 Earnings call transcript