H.C. Wainwright Reiterates Neutral Rating on Ryvyl Inc (RVYL)

H.C. Wainwright analyst Kevin Dede reiterated a Neutral rating on Ryvyl Inc (NASDAQ: RVYL).

The analyst commented: "Early yesterday, RYVYL Inc. expressed its revenue outlook for 2024 in a press release, indicating that 4Q24 revenue of $14.1M should bring the company to at least the low end of its $56-60M guided range. Further, RYVYL offered its first look at 2025, offering revenue guidance of $80-90M. Prior to the release, our estimates stood at $54.5M and $70M for 2024 and 2025. In debating estimate changes, we consider a mid-March full 2024 report time line that should also present greater insight to the activities that appear to have stimulated revenue growth, particularly in Europe, and to that end, we have included a table offered with yesterday's press release illustrating RYVYL's quarterly revenue progression through 2024, by geography, and the corresponding percentage of revenue per dollar processed now ranging in the 1.1-1.2% of total. This disclosure, unprecedented in our experience with RYVYL, sheds important light on the business inconsistencies in North America, where a healthy $48.9M business in 2023 is expected to fall 63% to $18.2M for FY24. European growth is coming on the heels of RYVYL's ability to make quick risk assessments in evaluating an ISO client's profile as we best understand the company business model. Proprietary algorithms determine default risk, allowing RYVYL to venture into and process transaction pools that other processors avoid, generating higher returns. Our study of RYVYL far precedes our initiation in February 2023, but still leaves us unsettled on projections. In realizing the company intends to present full results in a few short weeks, we remain on the sidelines with a Neutral rating."

For an analyst ratings summary and ratings history on Ryvyl Inc click here. For more ratings news on Ryvyl Inc click here.

Shares of Ryvyl Inc closed at $0.83 yesterday.

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