RVYL - Earnings call transcript Q1 2024

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Operator

Good afternoon everyone and welcome to Ryvyl Inc's First Quarter 2024 Conference Call. At this time, all participants are in a listen-only mode [Operator Instructions] The earnings press release accompanying this conference call was issued at the close of the market today. The quarterly report which includes the company's results of operations ended March 31, 2024 was filed with the SEC today. A replay of this call is available on the Investor Relations section of the Ryvyl website in the events/quarterly earnings session.

As a reminder this call is being recorded.Before we begin, I would like to remind you that today's call contains certain forward-looking statements from our management concerning future events. the based future company's are operations events information available are and belief, based for statements projections currently regarding contain state expectations which to information. financial forward-looking condition on results other current the assumptions on of or These future and forward-looking of company in turn and By their matters address statements that are uncertainties. nature, forward-looking subject to risks -- differ in cause discussed materially factors company's contemplated the variety could actual contemplated events SEC. by results affecting our of with filings forward-looking the those from in the to or expressed by the factors statements.Other in A and the detail risk in are company undertakes by over to statement, otherwise, now events revise company or call The a applicable publicly hand to the information obligation any whether extent the Ryvyl. laws.I future update except forward-looking of will required or result no Ben to as of Chairman Errez, new Please go ahead.

Ben Errez

measures, Good first strong over first us period thank which American vertical afternoon and increasing XX% XXXX, you and the volumes Thank XXXX, transition and are XXX% begin new compared we drive growth grew in revenue implementing results, overall change merchant accelerating joining to the in solid situation, particularly up markets, XXXX. reflecting control we of revenue fourth new cost led international to first grow we've in to of delivered and North to quarter quarter insurance the XX% sequentially online March, quarter volumes North and such to product us development to businesses. business. segment.In to increasing in for verticals everyone with the quarter you. segment business review the due America update the international same provide In some expected I'll compared near-term addition to today. services of reaching compliance high-risk million reviewed of declined taken some as $XXX efforts to Processing of of and continued XXXX, our the XXXX, to an we banking actions X% in service our related issues manage of the the with partners million.However, as environment regulations $XXX affecting

discuss The integration that initiatives new Direct level.Now, priority in Balkan superior clients. first as some the capabilities, you Direct integrated streams. the Direct network enable the I'll a for are as achievements. services We will to production share revenue activated to Visa is our completed merchant business international consumer and we expand into that the retention in will North have mobile American pipeline enhance with customer is investing service in business new development at to new markets, volume shift quarter we to One offerings. our This processing will the both processing. transformative base verticals driving further by our we based begin we of are new built sales business app-based reaching believe change in and the our region. Visa testing in new third expand as engineering growth key level, and Expanding customers, As terminal well product XXXX.Additionally, and ramp verticals the of increased to a help strategic existing us offer pleased engagement create business our and Visa improving from by Visa factor are and as rival payouts leverage service we to business banking now provide partner

will e-commerce and ACI global merchant orchestrate Worldwide, in will e-wallets and secure platform, XX partnership a to allow minimal one service merchants enabling optimal over cards onboard solution, API authorized collaboration This PSPs integration ACH XXXX, platform journey. critical one plan the payments onto award-winning for rates provide and payment real-time with integration seamless customers and formed using more payment Ryvyl to with in currencies.In customers a orchestration across and them multiple send accounts, payments funds customer conversion provider leader EU a customers to debit Our to operational mission to enable software. one countries February costs. We our

first Coyni's platform, Coyni different the Coyni the Coyni America are including impressive electronic fraud $XXX for formally million and regulatory with this additional expect for expected to more authorizes early been a had integrations and of and XX The part this line with capabilities banking-as-a-service offers currencies third we integrating offering suite sight approval released maintain ACI of strict EU to clear our several direct license based enables institutional testing partners.Our gain an a exchange market, leverage addition real-time ramp deposits.In US customer in hours into we business processing in requirements. be XXXX.In solution EU. to course transaction continued methods banking quarter.We an foreign than service eventually our in over retained business in payout volume transaction mobile or technology API to highly traction as and offering by have transaction on opportunities and total experience. settlements. XX compliance and of for launch and support processing volume both banking-as-a-service and merchant We our in reduces days quarter funds the transactions We day local banking-as-a-service summer efficient more for received as exceeded the and solutions provides of the the our quarter processing the of easy-to-use North and scalable and our

turn I'd to our a floor George, strategic financial this yours. is in like discuss Officer, growth the lucrative to We to expect of our will Financial George offering Oliva. over Chief long-term details call now market.And driver be the a results, the

George Oliva

quarter XXXX increased million first quarter our independent first of XX% our to the million to continued revenue The XX% million increased North quarter in of to XXXX. of to of to XXX% both $X.X segment.Operating XXXX XXXX. quarter financial revenue of the of growth our in million, of first to million totaled revenue network.North first review first to to is first first quarter quarter $X.X of in quarter quarter Revenue America first reflecting primarily quarter businesses expenses XXXX. I'll increased performance. for Ben. were $X.X for quarter of International International paid million attributable payments to in for compared other $XXX,XXX which for first quarter Other increase RYVYL higher $X.X America the million, an expense XXXX. XXXX, million compared ISO you, quarter $X.X first was growth first as million of commission of the XXXX organization transaction our $X.X EU the $X.X the the compared Cost Thank for resulted known and to for ISOs processing compared expansion and $XX.X acquired partnership $XX.X compared XXXX, first to fees compared XXXX. volume, and the expenses sales gateways in of and XXXX, and to in

reduction business we XXXX.Regarding our debt $X.X $X.X $X.X Adjusted compared carefully Our in quarter was quarter resulted up in million to EU, capital. and March a managing accretion was restricted XX, $XX.X the discount. capital and $X.X date repatriated million million cash cash to first will we to XXXX EBITDA liquidity, a resources. review our the Wei, provide million of XXXX of to million.I expense in of $X.X was operations was are first Operating the the balance a shore debt strategies in as Europe to interest Leveraging negative of the in decrease Chief decrease call US strong growth of cash Unrestricted million. negative outlook. $XX.X capital $X.X now from in level and million over and our million the turn working At Officer corporate Min our

Min Wei

highlights some then the verticals, provide Thank second the for outlook of you, quarter George. the volumes and first I'll detail quarter processing XXXX. our discuss for

about all X% quarter to our first $XXX was volume processing $XXX This expected of of million Our increase and our volume. about volume XXXX quarter million. XX% is increase across million versus sequentially from channels a first an $XXX

RYVYL is portfolios, XX% merchant the quarter $XXX lower and Block, $XXX business verticals $XXX and of RYVYL million first first for in business volume, terminal the processing in same of quarter, from quarter's quarter a the product North million EU than XXX% in fourth app-based primarily banking-as-a-service including million North pick quarter processing and $XXX American in year, payments fourth coincides America represents now first Charge an compared the including lower services to expect new XXXX. this quarter Samoa million Savvy, first than half the Our with about in Transact a by XX% mobile attributable increase increase American up volume recovery from volume the steam the of in transition our ago. the based international while processed to and other high-risk business and Europe acquired $XXX to we some offering, year the the to service processing.We This million period the XX%.This we the second of volume FX portfolio processed reduced

major in payment last the for app communicated new capability as our channel in on are the introduced US. our streams, We MPOS revenue strides offerings and development to technology making augment product delivery mobile drive call.We and businesses

further Independent complement system and that completing our that the with allows customers. a close partnership partners rapid banking sales are EU on will money for and market, revamp we are software progress We our Vendor of Software business existing connects our making our PayFac-as-a-service to faster movements channels.In

in product continue are to $XXX curtailed range quarter at pace rolled to in to second the volume a US some that the is high-risk part help outlook we changes out This service, than of to million the slowdown the improving planned first million. to transactions.We for faster we expect offset than our in and that EU We XXXX to due effectively in growth the rebuild volume. America.Turning North expect has and being lower the processing of regulatory is momentum $XXX and our be verticals solution volume of compliance near-term quarter,

is XXXX volume billion. Our total over $X expectation year

decrease to XX% verticals months, business XX% quarter million the will and we coming million to $XXX advise XX% any million. change to in a to our the expect revenue volume we be to second of $XX guidance $XX few For outlook, service range $XX a material million, to we in approximately we rebuild year-over-year.As US, the the if in the X% revenue have sequentially the decrease of we for total of

adjusted our $X concludes million.This Q&A. EBITDA full our our Chairman target remarks. turn now at maintaining to year Ben million to are to call my back $X to I'd the for like begin We Errez,

Ben Errez

we There's Thank have call Prior number this you, questions. of Min. of shareholders. interest received lot to all to a a

to in to able it's half of second to compared the for double we analysts, first the XXXX, Fredi. will first you'll revenues address are that Why you half? opening those.The Q&A confident question Before be although, the the

Fredi Nisan

table.And a new Direct. We licensing exist faster for turn integration it integration ACI. in continue live one back few already about growth.Second Asian to feature Ben thank and new RYVYL is PayFac-as-a-service new with our Europe to with QX allow And We we pushing Canada. now to the momentum with announced and and money enable especially leverage and process. that relationship. and revenue the our that we that and a I allow great everyone on and Visa other who new that you, system into beginning with can starting in listening. expected five, it and just through get great the with saw push and Visa/MasterCard network our and relationship excited integration other to very in Thank in move this Direct customer Visa the and to are for a this opening money we they implementing Visa model us US to the us the gateway to the portfolio first we live finalized our or network because offer we're push relationship to that Visa. And will in solution the banking US.We excited stream XX to money certification of relationship the about of the Tokenization bring and And different will very Direct that was solutions are and started we in you within hope cloud for and in that put Europe well push in quicker Europe, We're is, a than network go the third the example, verticals ISV as in months are countries.And we to platform, announce

So and and solution about and I offer our to our businesses this and excited am that of our very that leveraging PayFac course banking-as-a-service solution.

this grow company see very, half am is excited. year. the I this of So second the very and how And in we

So, I'm Thank very excited. you.

Ben Errez

what Thanks done What rebuild trend and Fredi. revenue for is The next Min. for How to being profitability? your momentum forecast question QX? did is is in

Min Wei

impacting question, QX our into To you, of and Ben. compliance affected technology high banking verticals, in answer due have to Thank continued which the was is has some QX. which changes risk

the opportunities reported Europe US, the we issues verticals In continues on trajectory. while we're into As these on new growth US, to diversify have and affected we're stronger a in working expanding the monetize specific licensing our a and started to new as same not addition, that business Service we have constraints affected identified business that the results. QX this verticals.In do Platform

Although this take time new will revenue to streams materialize.

in verticals. new We these are momentum building

of million In that and based we adjusted second be $X full in revenue to EBITDA and profitability, $X range on expense positive the the about rate, in expect terms question million. to expected to of year our the the be half run

the positive be in revenue million the we expect spending million our is It reduce growth at profitable. past, $XXX focusing and $XXX objectives. accelerate and continue on resources reach stated have should we our EBITDA at revenue, to non-critical to plan profitability be to which revenue, As to

Ben Errez

Min. is due your to the sustain for faster is you profitability? to away? of manage coming Are next what Thanks, George. comfortable you that XXXX? did plan enough question pulled the have And you liquidity Why note in April The

George Oliva

Ben. you, Thank

stock had when regarding higher. price raise, the in the we started QX, First, the proposed process was

the to as the made the However, to closer that in pricing the came not not it interest was attractive. it of We shareholders determination accept best decision, fruition, was terms.

a than strategy we accelerate repatriating canceled pursued raising we Rather raise. so the from that US. cash to equity, to Europe And

processing plan. are very ahead to of the million cash US.Our they were North of are in repatriate to Fortunately, $X.X EU cash from we and help subsidize able And profitable temporary America are segment. to and challenging date the equivalents in loss

so manage we operation the centralized to of liquidity cost again are and tightly are But current and to affect between we ratios. note, past have within needs. and control at the multiple the note the a units, would would in we challenging business we're it's very aggressive holders active due be discussion year be do the units revenue increasing moving again, help working challenging business â€“ the note within extended US.Regarding maturity very managing and it's â€“ are in money revenue, our decreasing next somewhat with then the note the We other somewhat being to a but the one have and capital quarter

we're going with get and extended that classify as So go to hopefully, continue to I'll that, to it And Ben. a long-term back obligation.

Ben Errez

to include you going success what scientist.And And key volume meaningful total the I'm the do my in fact most measure are I Ryvyl revenue. son next to the key out XXXX? data way where So like George. the industry, for operating way the margins The a trends science, How performance shout and success in you, data you was question. to you're transactions, saying most is KPI expect indicators. of there's one Thank best in your the performance using take of measure do do another important better? doing you or

company $X.X to expect XX% we in grew volume growth XXXX, in Our XXXX. business billion XX% and

revenue. XXs, In a in XXs, our run operating terms rapidly we to in continue and are cost the always rate high and report in automate which happy low of growing margin that growth the streamline challenge margin, of is is a substantial to operating control.We company, spite

to at revenue in in In to XX%. on approximately and robust growth, Based grow we about offerings, terms of is company. critical the revenue for $XX that Chief pleased top with the the of to with new What progress.The growth Min, million three sources? anticipate XX% Operating, success pipeline XXXX on last quite Based our revenue. we current the finished question are back XXXX is this we're environment,

Min Wei

Ben. you, Thank

vendor And acquiring sources Our verticals market, we mentioned service as gaining two are anticipated and revenue top merchant offering, us service addition, a stronger earlier and confidence go in revenues other the Number growth mentioned to the Fredi is the resources, earlier. which of year. repayment independent onboarding three, from improving, experience number of Number of the new as is, the the revenue half momentum is follows. in to and European banking three as second market, through software speed from revenue more partnerships, payback licensing revenue. the are service recruited IT significant one giving strategic we In due is, in

Ben Errez

Thank at analysts several this like the floor Operator you, We questions. see questions. register for we Min. for to analyst that point, would open the at

Operator

time, this the Kevin will with be Dede conducting question. proceed Please question a Instructions] with At question-and-answer you. first Thank from your of Sure. session H.C. we [Operator line comes Wainwright. Our

Kevin Dede

having for you you again. me on good to it's Min, talk Thank and to Ben

Ben Errez

Thank you.

Kevin Dede

was there far? when you far complete, the March results any exactly kind contribution What how so was the quarter have seen Visa Direct So quarter? of or the integration June to through

Ben Errez

Min. address going to to Min I'm have ahead, that. Go

Min Wei

Hey, Kevin thank you question. for the

Euro -- US after went reasonably So initial in live then cover GBP, services Canada, expect that we we five we dollars, Fredi X quarter, with first went in We dollars. currencies. business including the so our the of with be Phase and the as Phase currencies, rest after currencies already is indicated to second and it the launch and live the quarter, Canadian into X,

result a revenue of see some from to of our as that. banking improved coming the expect as service, we So part a business,

Kevin Dede

regulations. with hand, platform. the heard hand, from on I'm to the mobile that one Ben, is about Okay. other I correctly. on on transition up about me, the this March On terminal a sure hand, little quarter right? tripped on a I slowdown an heard one And not I on and in I'm issue everything the heard

issues, can a could to second if come see we stronger maybe how understand, you of and I drill half? each So down those please, on

Min Wei

a QX to specific in level there. But maybe through did that's channel. in questions processing at requirements Kevin, a and compliance we change very multiple our high, technology the I think running a

We are right adjusting away. for that,

new payment case, communication provide that, working the experience. to also mobile of the starting we very result we referring is the payment steam -- that, for early have we Kevin, can my take apologies payment, we a second made to, process, momentum me, excuse ensure It's that, training time, fine-tuned in to conjunction Kevin, with our mobile adjust as last quarter, incentive up for processing, payment and a the process behavior part we we're their app change able with but to, material customers, so time for that of in the merchants, switch we take But here, really load know only and expected, we really more rebuild switch towards, expect to the here, we're the way end for compliant mentioned adjusted not together base because, roll be users hard a updated And going in training part mobile user out comment to -- to program solution, out we're to earlier, adopt then put even have later compliant payment the solution. a manner.So that, our the our of that. that, path does adopt.So and the You we as to revenue. it the expect fully as the in recovery we payments picked to we but more consumers us we Hence, rebuild and to earnings QX. call, our the for

Ben Errez

we that, Updates margins. much that leads that It's to the It's and this Kevin, better better inventory. all like to are of into of hardware add trend. We like faster, to out company. manage that transition would I easier for software.

just paperwork on platform. and Our transitioning good This new a bit expenses a of portfolio customers trend. on-boarding hardware. no It like little old takes or the is the it. onto time They have

Kevin Dede

things Okay. of Maybe, a could the just color little Ben, on because still little you I'm offer a regulatory by that? side confused

Ben Errez

perception. are And a that influenced fed issue. we that we by work To is see would by of it an ecosystem trends say in that environment is be contributors. that, times, a not different by are lot We lot confused an of an

a of by it's perception risk association. Sometimes,

Sometimes of perception it's for risk verticals.

reduce an always of it warming even to do are interpretation that if another are have regulatory in business bandwidth mandated perspective. better us, are you will do otherwise very and your the a you not us have listen from clear.So guidelines, it's partners ground, it's And we of then regulation our to sometimes if and you for telling if this lot full these follow way they not way,

Fredi Nisan

mentioned. let add just And one thing me more for just Ben what

for think lost is the it's the on industry partners, The of area processing, acquiring guidance those in is it just Visa the apps. of well on as changing. of we is on and that are into have a is requirements.And a we the of more whole changing, that they In are And especially I have lawsuit fees. the mobile Banking technology $XX ecosystem. the areas, risk, new we crypto is to FDIC need moving capacity. hard secure, billion in set the to pay pushing following industry, example, and rules licensing. more to ecosystem and going just are part banking, adjust whole into important. certain transparent, part whole that Europe, for

world is with changing, So whole we're just it. and adjusting the

a that's of kind So high level.

Kevin Dede

about quarter, over at which of is December. X% get revenue down look as March transaction X.X% to percentage volume, I the in I I in think, If a from,

that change to you a percentage volume, of you how help see transaction me understand change a think it's function of there's in and hard that revenue it in Obviously, but volume. a goes? versus volume, So given it's X% a much can trend of only

Ben Errez

Okay. Min?

Min Wei

earlier, the mentioned happened address top service So is and by question. revenue, acquiring service right? offset really of merchant Europe. means volume acquiring last details one as quarter increase, service and business. the quarter we number process, revenue, good margin that increased in that than is level, between and revenue for data That our a observation, XXXX in our have high first revenue two at a reduced you banking drivers, the into volume North sequentially, year, when and volume that as is, even I'll revenue, the are processing That's And we Kevin, what analytics more and of said, of reduced three right? a banking this America I though

that's looking lower the compared as banking you're So we think I residual against have. is, The rate service at, a the one right?Two what is than acquiring in that's for revenue being the observation, is volume. basically percentage business

So as a even a you result have then compared have the and for of over increased service the when percentage quarter residual that's we but volume quarter residual has that, to for but residual acquiring business, of revenue, then higher probably lower banking percentage overall, see, volume though why percentage declined improved that. you because

Okay? Hopefully that makes sense to you.

George Oliva

would between add, the a I Europe and that is basically US. So, mix so

our larger transactions a is that declined. rate Even though residual the why rate than we had US. overall but that's profitable, Europe in lower is the Europe As very is the percentage on of business,

So still I long do think metric a X% is term. ballpark good

Ben Errez

to stabilized the is Right. to to anticipate go would said we is where back direct to a have area performance. the original the attention Ben to I previous before again. This performance about the question also KPI. your what This I

even Our have not may be though margins revenue of gross of out changed, our volume shrunk. operating percent

that's distinction. very So important a

Kevin Dede

it. highlighting gentlemen. for Ben. for I very Thank back I'll you you hop much that, the in your appreciate queue. Thank explanations,

Ben Errez

Operator, support. to always We Kevin. you. appreciate Thanks, back your

Operator

next our And Instructions] with with Wainwright. [Operator you. line comes from the your H.C. of question Dede Please Kevin Thank question. proceed

Kevin Dede

evolution service, and within service banking take someone a the a Coyni positioning help But backseat just I'd for realm. you're a how blockchain as the much. rival's as else. understand and Thank block you I of offering, very me thought

Ben Errez

to CEO Okay. On Fredi. question, that strategic back

Fredi Nisan

you. Thank

So financial companies, can wire on And variety implemented payment we're solution.All payments, part open paper ways. backbone, be licenses New other up services, that a is able our different for [Technical now offer [Technical off and with to customer to let's service. the as to a be in utilized banks utilize service Difficulty] Difficulty] York start as of of institutions, banking their of a now our license ramps a to in Banking Visa solution. going being

a So, the and can space. help already. we opportunity solution how other we see that process see huge through We volume in companies the that see and growth banks

are a we're live cloud that, how going Difficulty] is to still Coyni services from the in makes the solution, benefit the to and working Coyni [Technical other that pace. on Europe. did in still the more working is communities We're Federal understand that? available, the going US. Blockchain-as-a-Service in and Coyni We service especially deploying to payment tried software few on us mention before This its of payment have to allow one.You do license. QX.That in that payments we fixing Coyni with -- Europe asset we're but that's regards to that's So, a [Indiscernible]. as we how the operate licenses to correct core It believe the that service an just directly receive for up I facilitator. very we go but about that with are big we hopefully lift very but running in and at excited share interesting are opportunity we renewal

with Data. are our First partners We working

to Coyni We to our turn have lot on have quick a as of seen with plate and turning But First generate compliance all for as a are our that revenues possible. we trying arrived those Data PayFac long as partners.So, It's time. possible but to we as doesn't regulation, a now on as everything heavy the at on there have working quick on. projects we're point we of

I But we in how of second and half hope didn't I the year. hope. the miss that's a recovery those I I answered through all see question. of So, anything solutions tools the

Kevin Dede

Ryvyl of Coyni's Block on add at just RYVYL I should within that, look functionality. how to context the Yeah Banking-as-a-Service and Fredi versus

Fredi Nisan

of through for place it, It's quick years.So, as So, separate RYVYL and a of transformation Blockchain-as-a-Service the companies is financial go the backbone. of say a main blockchain digital institution product that basically Block the Coyni blockchain to want other two that and helps. getting possible.Coyni a prompt would technology same transformation. without infrastructure the to to in for or infrastructure? Fintech allow bank of and example is offer They the of economy. the kind or line. ability Hopefully offering a front-end designed into going a underlying weeks the implement not through into infrastructure we year as months block the Difficulty] reorganizing RYVYL call product company a that's clients, was [Technical to I same implementation the that want Block the onboard [Indiscernible] blockchain payment ability for services they banks what infrastructure to goal new using get is but functionality, is or --

Kevin Dede

okay. Yes,

if So, the Blockchain-as-a-Service? RYVYL given Block to were it you've that I is basically summarize name

Fredi Nisan

correct. That's correct. RYVYL Internally, Block, yes,

Kevin Dede

Okay.

just have hard on was lot you It for to out. simpleton you it a Apologies. like your Okay. a Fredi, plate have me guys your all point and -- to sort it's

the So, appreciate I but I do handholding. apologize, really

Fredi Nisan

No problem.

Ben Errez

for your continued support Kevin. Thanks

Kevin Dede

want -- looking might expanding Egypt of that offer your Yes, South are no. I deserve sort about you've and might that but necessarily lot countries, the such your there Europe seems offer opportunity and other not how similar or just even My a international countries talked a expansion prove maybe it know are you to you you Ben, me or Europeans -- international some beyond to might Europe, maybe a -- opportunity? maybe Eastern pleasure. Nigeria but of focused as on Africa that first-world lot other

Ben Errez

Yeah.

is So paying it that's someone a demonstrates And attention. good question. that

about So lot this efficiency. game is a

that business -- billion as do grow range.We still company to business now $X that more have reasonable we guidance we before range from most the is of fruit year-over-year the big though volume XX% can in take. to pursuit anticipate in still lower can can that we because a we issued on XXX% we are growing what overall efficient revenue the the -- onboard we $X billion the hanging this of We call how even

case is tells transactions at business us and in GDP picking is. interesting that And end the we case of You market, the that now proving the an at where Samoa happy the currently the the that day, it for to -- about we this the Obviously, food market up accumulate quality we we'll a for and control European supporting American revenues of where in where go be of us need moment. just very majority the we're that was study looking nation. entered study point.However know,

first market. And table, first even we strength. the efficient move However, to look and some play we revenue more address but be on the we growth to direct on will though the most before then money leaving have our may

Kevin Dede

to Question see referenced multiple It has ton or lot last would opportunities verticals? I you're get on I such in -- low you segue. fruit. And sense. experience other if your I it. American year dedicate makes left other potential that? in and understand for you to wondering still for opportunity is sort that and understood a what you Samoa. this on mentioned resources if I'm recently you looking systems there's thought America a in other that plate great time just obviously remember hanging be calls as exploiting closed you more Ben Samoa you that your less of totally a feeling want of

George Oliva

I'll Kevin, question So answer that to demand.

very Samoa for American strategic opportunity continue our in to the business be So portfolio. in us

days on XX a previously indicated you have continue as more and than know servicing we to the island We quick reminder. volume process we

exclusive additional our in a We're that.Now position a American have in needs. to contained the ecosystem, we major our for the processing conversation pipeline. and dollar Samoa, as such five-year in but opportunities for with for the We for are smaller not to sales continue secondly, we share continuing island partner details, more manage we our there all partnership are business

based resource in the we the term. major adequate the As business have We other road some map than that island potential longer though the involved do we of prioritized on product kind of utilization. ticket prioritized in pipeline opportunities even effort in are level on we with rather well near as pursuing do our Ben have term alignment as big mentioned

Ben Errez

because of add again. words the This for onshore couple -- the that on that. me Remember we revenues a the in Ben a we is a of migration, little QX. of bit Let technology drop experienced

at fringe point backfill that I can that of way venturing say company that, the right. opportunities most prudent the more to think message other this it's they with first efficient clear. that that is are before we to hope I out

Kevin Dede

clear, akin the was a for at of floor ecosystems be something this guess, I I payment I more I'll to much Yes, geographic very appreciate sort and mean, gentlemen. the thank But much And thinking to cede processing. you of implementation, just explanation. Thank No, Square's very point. yes. absolutely. it be closed I may beyond you

Ben Errez

Thank you, Kevin.

Operator

the the reached we Thank session. question-and-answer end you. of And have

the I'll Harris call Now closing Ben turn to for back remarks.

Ben Errez

joining Thank diversify in for are next everyone to hope we thoughtful On Have and revenues about participation. questions and at results on shareholders great I growth your Fredi note, see XXXX update us all QX Ryvyl. the excited you for plan to everybody. operator. and for and two August. Thanks a today our day a personal are the And largest

Operator

you. conference today's Thank concludes call. This

may You disconnect. now

Ryvyl (RVYL) 14 May 242024 Q1 Earnings call transcript