RVYL

MKT CAP:$3M

Ryvyl Inc.

Market Cap

$3M

Technology·Software - Infrastructure·🇺🇸 United States·NASDAQ

Technology·Software Infra·🇺🇸·NASDAQ

Stock Price

$6.83+$1.10 (+19.20%)

Apr 20, 2026

Company Details

GreenBox POS, a technology company, engages in the development, marketing, and sale of blockchain-based payment solutions. Its blockchain-based systems facilitate, record, and store a volume of tokenized assets, representing cash or data, o...

CEO

George Oliva

IPO Date

Jan 20, 2010

Website

greenboxpos.com

Key Metrics TTM

Revenue

$35M

-44.2% YoY

Net Income

-$20M

EPS (Diluted)

-$74.14

Free Cash Flow

-$6M

Revenue / Share

$41.60

Gross Margin

42.7%

Operating Margin

-32.6%

Net Margin

-56.4%

FCF Margin

-17.0%

P/S

0.1x

P/E

—

Earnings Reports

Q4 2025

May 13, 2026

PENDING

Q3 2025

Nov 14, 2025

$3M-77.9%EPS -$2.39

Q2 2025

Aug 14, 2025

$3M-76.6%EPS -$28.00

Q1 2025

May 20, 2025

$15M-9.8%EPS -$11.55

FY 2024

Mar 28, 2025

$56M-15.0%EPS -$140.35

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 21	$6M	$5M	-$35.6K
Q3 21	$8M	$6M	-$3M
Q1 22	$4M	$1M	-$7M
Q2 22	$7M	$3M	-$9M
Q3 22	$11M	$6M	-$3M
Q1 23	$11M	$5M	-$4M
Q2 23	$15M	$6M	-$4M
Q3 23	$17M	$7M	-$2M
Q4 23	$22M	$8M	-$3M
Q1 24	$17M	$7M	-$2M
Q2 24	$12M	$5M	-$11M
Q3 24	$13M	$5M	-$2M
Q4 24	$15M	$6M	-$6M
Q1 25	$15M	$7M	-$848.0K
Q2 25	$3M	$1M	-$3M
Q3 25	$3M	$1M	-$2M

Valuation

Quarter	P/S	P/E
Q2 21	769.6x	—
Q3 21	619.8x	—
Q1 22	260.8x	—
Q2 22	67.0x	—
Q3 22	64.7x	—
Q1 23	21.2x	—
Q2 23	33.9x	—
Q3 23	10.4x	—
Q4 23	13.4x	—
Q1 24	8.3x	—
Q2 24	5.1x	—
Q3 24	5.4x	—
Q4 24	6.3x	—
Q1 25	6.7x	—
Q2 25	18.8x	—
Q3 25	8.5x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 21	-$2M	-$5M
Q3 21	-$366.1K	-$395.5K
Q1 22	-$14M	-$15M
Q2 22	$18M	$18M
Q3 22	-$15M	-$15M
Q1 23	$16M	$16M
Q2 23	$7M	$7M
Q3 23	$4M	$4M
Q4 23	$6M	$6M
Q1 24	$16M	$16M
Q2 24	-$13M	-$13M
Q3 24	$16M	$16M
Q4 24	$2M	$1M
Q1 25	-$16M	-$17M
Q2 25	$12M	$12M
Q3 25	-$3M	-$3M

Capital Expenditures

Quarter	CapEx
Q2 21	$3M
Q3 21	$29.4K
Q1 22	$66.0K
Q2 22	$21.0K
Q3 22	$15.0K
Q1 23	$17.0K
Q2 23	$0
Q3 23	$61.0K
Q4 23	$30.0K
Q1 24	$22.0K
Q2 24	$623.0K
Q3 24	$581.0K
Q4 24	$582.0K
Q1 25	$1M
Q2 25	$40.0K
Q3 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 21	+178.2%	+152.9%
Q3 21	+163.2%	+227.1%
Q1 22	+40.9%	+74.2%
Q2 22	+46.7%	+12.2%
Q3 22	+66.6%	+114.4%
Q1 23	+40.3%	+38.6%
Q2 23	+252.7%	+62.8%
Q3 23	+150.9%	+25.3%
Q4 23	+109.3%	+82.3%
Q1 24	+48.6%	+24.8%
Q2 24	-19.9%	+24.0%
Q3 24	-27.9%	-24.0%
Q4 24	-33.8%	-19.0%
Q1 25	-9.8%	-14.4%
Q2 25	-76.6%	-73.4%
Q3 25	-77.9%	-69.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 21	$1M	20.3%
Q3 21	$0	0.0%
Q1 22	$167.0K	4.0%
Q2 22	$0	0.0%
Q3 22	$641.0K	6.0%
Q1 23	$193.0K	1.7%
Q2 23	-$32.0K	-0.2%
Q3 23	$148.0K	0.8%
Q4 23	$2M	6.9%
Q1 24	$224.0K	1.3%
Q2 24	$182.0K	1.5%
Q3 24	$136.0K	1.1%
Q4 24	$82.0K	0.6%
Q1 25	$55.0K	0.4%
Q2 25	$441.0K	15.8%
Q3 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q2 21	$808.2K	$4M	$22.6K
Q3 21	$1M	$7M	$37.2K
Q1 22	$2M	$6M	$141.0K
Q2 22	$2M	$7M	$527.0K
Q3 22	$1M	$5M	$438.0K
Q1 23	$2M	$6M	$75.0K
Q2 23	$1M	$8M	$33.0K
Q3 23	$1M	$4M	$45.0K
Q4 23	$1M	$3M	$73.0K
Q1 24	$1M	$7M	$17.0K
Q2 24	$819.0K	$3M	$17.0K
Q3 24	$815.0K	$3M	$42.0K
Q4 24	$821.0K	$7M	$21.0K
Q1 25	$449.0K	$7M	$33.0K
Q2 25	$129.0K	$3M	$2.0K
Q3 25	$216.0K	$1M	$17.0K

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q2 21	178.2%	-0.4%	177.8
Q3 21	163.2%	-29.0%	134.2
Q1 22	40.9%	-464.2%	-423.3
Q2 22	46.7%	308.7%	355.4
Q3 22	66.6%	-110.5%	-43.9
Q1 23	40.3%	-26.6%	13.7
Q2 23	252.7%	-47.4%	205.3
Q3 23	150.9%	11.0%	161.9
Q4 23	109.3%	-9.8%	99.5
Q1 24	48.6%	-5.4%	43.2
Q2 24	-19.9%	-85.5%	-105.3
Q3 24	-27.9%	-27.1%	-55.0
Q4 24	-33.8%	-39.5%	-73.3
Q1 25	-9.8%	-5.2%	-15.0
Q2 25	-76.6%	-105.2%	-181.8
Q3 25	-77.9%	-69.4%	-147.3

Rule of 40

War Chest

Quarter	Cash	Short-term Investments	Total
Q3 21	$30M	$0	$30M
Q1 22	$28M	$0	$28M
Q2 22	$29M	$0	$29M
Q3 22	$11M	$0	$11M
Q4 22	$14M	$0	$14M
Q1 23	$18M	$0	$18M
Q2 23	$13M	$0	$13M
Q3 23	$16M	$0	$16M
Q4 23	$12M	$0	$12M
Q1 24	$11M	$0	$11M
Q2 24	$6M	$0	$6M
Q3 24	$4M	$0	$4M
Q4 24	$3M	$0	$3M
Q1 25	$3M	$0	$3M
Q2 25	$210.0K	$0	$210.0K
Q3 25	$1M	$0	$1M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 21	89K	-11.0%	+7.2%
Q3 21	120K	+35.4%	+42.7%
Q1 22	116K	-3.2%	+31.3%
Q2 22	123K	+5.6%	+23.1%
Q3 22	135K	+9.6%	+51.6%
Q1 23	149K	+10.8%	+24.1%
Q2 23	147K	-1.5%	+26.3%
Q3 23	149K	+1.7%	+21.7%
Q4 23	158K	+5.6%	+17.3%
Q1 24	171K	+8.4%	+14.7%
Q2 24	184K	+7.5%	+25.2%
Q3 24	195K	+5.8%	+30.2%
Q4 24	214K	+9.8%	+35.4%
Q1 25	236K	+10.5%	+38.0%
Q2 25	302K	+27.8%	+64.0%
Q3 25	851K	+182.1%	+337.4%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 21	—	—
Q3 21	—	—
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q1 23	$102.6K	110
Q2 23	$135.0K	110
Q3 23	$158.9K	110
Q4 23	$224.7K	99
Q1 24	$169.4K	99
Q2 24	$120.2K	99
Q3 24	$127.3K	99
Q4 24	$154.9K	95
Q1 25	$159.3K	95
Q2 25	$29.3K	95
Q3 25	$29.3K	95

Revenue / Employee