RYVYL Inc.

For the period ended Mar 31, 2026. Filed May 14, 2026.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2026 · Filed May 14, 2026

RTB$6.08+2.2%Stored close · as of Nov 6, 2026

See the whole filing, with its images and exhibits

Contents

Condensed Consolidated Balance Sheets as of March 31, 2026 (unaudited) and December 31, 2025

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share and per share data)

	March 31, 2026	December 31, 2025
(Unaudited)
ASSETS
Current Assets:
Cash	$5,506	$7,425
Restricted cash	253	7
USDC	1,500	1,500
Accounts receivable, net of allowance for credit losses of $13 and $34, respectively	922	1,114
Prepaid and other current assets	1,072	1,091
Total current assets	9,253	11,137
Non-current Assets:
Intangible assets, net	227	255
Operating lease right-of-use assets, net	150	1,401
Other assets	269	308
Total non-current assets	646	1,964
Total assets	$9,899	$13,101
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$2,623	$2,237
Accrued liabilities	5,470	6,634
Payment processing liabilities, net	44	418
Current portion of operating lease liabilities	754	705
Other current liabilities	13	16
Total current liabilities	8,904	10,010
Long term debt, net of debt discount	611	613
Operating lease liabilities, less current portion	1,356	1,810
Total liabilities	10,871	12,433
Commitments and contingencies (Note 14)
Stockholders’ (Deficit) Equity:
Convertible Preferred stock: $0.01 par value; 5,000,000 shares authorized Preferred stock, Series C, par value $0.01, 4,930,000 shares authorized; 50,000 shares issued and outstanding at March 31, 2026 and December 31, 2025	1	1
Common stock, par value $0.001, 100,000,000 shares authorized; 1,277,676 and 1,037,458 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively	37	36
Additional paid-in capital	199,208	197,564
Accumulated deficit	(200,218)	(196,933)
Total stockholders’ (deficit) equity	(972)	668
Total liabilities and stockholders’ (deficit) equity	$9,899	$13,101

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

(In thousands, except share and per share data)

	Three Months Ended March 31,
	2026	2025
Revenue	$2,535	$2,769
Cost of revenue	1,414	1,400
Gross profit	1,121	1,369
Operating expenses:
Research and development	75	448
General and administrative	767	1,140
Payroll and payroll taxes	784	2,623
Professional fees	1,184	1,019
Stock compensation expense	376	55
Depreciation and amortization	33	82
Impairment of ROU asset	932	-
Restructuring charges	13	403
Total operating expenses	4,164	5,770
Loss from operations	(3,043)	(4,401)
Other income (expense):
Interest expense	(6)	(1,229)
Legal settlements expense	(200)	-
Accretion of debt discount	-	(128)
Other (expense) income, net	(32)	47
Total other expense, net	(238)	(1,310)
Loss from continuing operations before income taxes	(3,281)	(5,711)
Provision for income taxes	4	141
Net loss from continuing operations	(3,285)	(5,852)
Income from discontinued operations, net of tax	-	3,096
Net loss	$(3,285)	$(2,756)
Comprehensive income statement:
Net loss	$(3,285)	$(2,756)
Foreign currency translation adjustment	-	1,102
Total comprehensive loss	$(3,285)	$(1,654)
Net loss per share:
Basic and diluted	$(2.67)	$(11.67)
Weighted average number of common shares outstanding:
Basic and diluted	1,232,452	236,150

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ DEFICIT

(In thousands, except share data)

Common Stock · Preferred Stock · Additional · Total
	Shares	Amount	Series C Shares	Amount	Paid In Capital	Accumulated Deficit	Stockholders’ Deficit
Balance at December 31, 2025	1,037,458	$36	50,000	$1	$197,564	$(196,933)	$668
Issuance of common stock under equity incentive plans	11,523	-	-	-	300	-	300
Stock-based compensation	-	-	-	-	75	-	75
Common stock issued in connection with legal settlements	154,196	1	-	-	875	-	876
Common warrant exercises	74,800	-	-	-	394	-	394
Shares cancelled in connection with the net settlement of vested stock awards	(478)	-	-	-	-	-	-
Fractional shares adjustment due to reverse stock split	177	-	-	-	-	-	-
Net loss and comprehensive loss	-	-	-	-	-	(3,285)	(3,285)
Balance at March 31, 2026	1,277,676	$37	50,000	$1	$199,208	$(200,218)	$(972)

Common Stock · Preferred Stock · Additional · Other Accumulated · Total
	Shares	Amount	Series B Shares	Amount	Paid In Capital	Comprehensive Income	Accumulated Deficit	Stockholders’ Deficit
Balance at December 31, 2024	229,495	$8	53,499	$1	$179,157	$(1,251)	$(179,407)	$(1,492)
Issuance of common stock under equity incentive plans	450	-	-	-	55	-	-	55
Common stock issued for conversion of Preferred B stock	8,997	-	(400)	-	-	-	-	-
Preferred B stock repurchase	-	-	(53,099)	(1)	1	-	-	-
Capital contributions	-	-	-		9	-	-	9
Net loss and comprehensive loss	-	-	-		-	1,102	(2,756)	(1,654)
Balance at March 31, 2025	238,942	$8	-	-	$179,222	$(149)	$(182,163)	$(3,082)

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

(In thousands)

	Three Months Ended March 31,
2026 · 2025
Cash flows from operating activities:
Net loss		$(3,285)	$(2,756)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization expense		33	133
Noncash lease expense		(86)	106
Stock compensation expense		376	55
Common stock issued in connection with legal settlements		175	-
Impairment of ROU asset		932	-
Loss on disposal of property and equipment		34	-
Restructuring charges		13	403
Accretion of debt discount		-	128
Changes in operating assets and liabilities:
Accounts receivable, net		192	118
Prepaid and other current assets		19	802
Cash due from gateways, net		-	89
Other assets		(1)	(100)
Accounts payable		386	730
Accrued and other current liabilities		(479)	(576)
Payment processing liabilities, net		(374)	(14,713)
Net cash used in operating activities		(2,065)	(15,581)
Cash flows from investing activities:
Purchases of property and equipment		-	(8)
Capitalized software development costs		-	(1,116)
Purchases of intangible assets		-	(145)
Net cash used in investing activities		-	(1,269)
Cash flows from financing activities:
Repayments on convertible debt		-	(13,000)
Repayments on long-term debt		(3)	(2)
Proceeds from short-term note payable		-	15,000
Proceeds from common warrant exercises		394	-
Net cash provided by financing activities		391	1,998
Effect of exchange rate changes on cash and restricted cash		-	312
Net decrease in cash and restricted cash		(1,674)	(14,540)
Cash and restricted cash – beginning of period		7,432	92,030
Cash and restricted cash – end of period		$5,758	$77,490
Supplemental cash flow disclosures
Cash paid during the period for:
Interest	$	-	$380
Income taxes	$	-	$498
Non-cash financing and investing activities:
Interest accrual from note payable	$	-	$1,117

ContentsView on SEC.gov

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