Ryvyl Inc. Reports Net Loss of $7.98 Million in Q1 2023

Ryvyl Inc.(RVYL) reported a net lo ss of $7.98 million. Despite the net loss, the company achieved a significant milestone with record revenue of $11.29 million during the same period. Let's delve into the details of the financial statements to gain a comprehensive understanding of Ryvyl Inc.'s performance.

Net Income/Loss

The unaudited condensed consolidated statements of operations and comprehensive income reveal that Ryvyl Inc. incurred a net loss of $7.98 million in the first quarter of 2023. This loss represents a decrease in profitability compared to the same period last year.

Revenue