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Side-by-side financial comparison of Netcapital Inc. (NCPL) and RYVYL Inc. (RVYL). Click either name above to swap in a different company.
RYVYL Inc. runs the higher net margin — 46.1% vs -1921.5%, a 1967.5% gap on every dollar of revenue. On growth, Netcapital Inc. posted the faster year-over-year revenue change (-38.2% vs -116.6%). Over the past eight quarters, RYVYL Inc.'s revenue compounded faster (NaN% CAGR vs NaN%).
Netcapital Inc. runs a U.S.-focused digital private capital markets platform that connects growth-seeking early startups, small and medium private businesses with accredited and non-accredited individual investors, providing fundraising support for issuers and accessible alternative investment options for platform users.
RYVYL Inc. is a global fintech company that provides embedded financial services, point-of-sale solutions, payment processing, and digital banking tools primarily for small and medium-sized businesses. It operates mainly across North America and European markets, with core segments covering B2B payment infrastructure for retail and hospitality sectors.
NCPL vs RVYL — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $94.3K | $-9.6M |
| Net Profit | $-1.8M | $-4.4M |
| Gross Margin | 98.1% | — |
| Operating Margin | -2304.6% | — |
| Net Margin | -1921.5% | 46.1% |
| Revenue YoY | -38.2% | -116.6% |
| Net Profit YoY | 39.7% | 35.6% |
| EPS (diluted) | $-0.32 | $-28.13 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $94.3K | — | ||
| Q4 25 | $51.1K | $-9.6M | ||
| Q3 25 | $190.1K | $2.8M | ||
| Q2 25 | $404.0K | $2.8M | ||
| Q1 25 | $152.7K | $15.1M | ||
| Q4 24 | $170.5K | $-4.4M | ||
| Q3 24 | $142.2K | $2.8M | ||
| Q2 24 | $347.2K | $3.0M |
| Q1 26 | $-1.8M | — | ||
| Q4 25 | $-2.1M | $-4.4M | ||
| Q3 25 | $-3.6M | $-2.0M | ||
| Q2 25 | $-20.5M | $-8.4M | ||
| Q1 25 | $-3.0M | $-2.8M | ||
| Q4 24 | $-2.2M | $-6.9M | ||
| Q3 24 | $-2.5M | $-5.2M | ||
| Q2 24 | — | $-12.1M |
| Q1 26 | 98.1% | — | ||
| Q4 25 | 96.3% | — | ||
| Q3 25 | 96.1% | 50.0% | ||
| Q2 25 | 99.2% | 43.8% | ||
| Q1 25 | 95.3% | 44.4% | ||
| Q4 24 | 88.4% | — | ||
| Q3 24 | 92.8% | 37.7% | ||
| Q2 24 | 96.8% | 37.9% |
| Q1 26 | -2304.6% | — | ||
| Q4 25 | -4149.6% | — | ||
| Q3 25 | -1728.8% | -65.0% | ||
| Q2 25 | -476.0% | -118.1% | ||
| Q1 25 | -1105.4% | -5.6% | ||
| Q4 24 | -1291.5% | 187.9% | ||
| Q3 24 | -1763.5% | -129.4% | ||
| Q2 24 | — | -449.0% |
| Q1 26 | -1921.5% | — | ||
| Q4 25 | -4169.3% | 46.1% | ||
| Q3 25 | -1916.3% | -70.1% | ||
| Q2 25 | -5085.6% | -302.1% | ||
| Q1 25 | -1969.1% | -18.2% | ||
| Q4 24 | -1302.1% | 155.0% | ||
| Q3 24 | -1776.9% | -182.7% | ||
| Q2 24 | — | -407.5% |
| Q1 26 | $-0.32 | — | ||
| Q4 25 | $-0.44 | $-28.13 | ||
| Q3 25 | $-1.27 | $-0.07 | ||
| Q2 25 | $-11.38 | $-0.80 | ||
| Q1 25 | $-1.57 | $-0.33 | ||
| Q4 24 | $-2.34 | $-137.16 | ||
| Q3 24 | $-5.10 | $-0.76 | ||
| Q2 24 | — | $-1.88 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $7.4M |
| Total DebtLower is stronger | $492.4K | — |
| Stockholders' EquityBook value | $21.6M | $668.0K |
| Total Assets | $26.1M | $13.1M |
| Debt / EquityLower = less leverage | 0.02× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $7.4M | ||
| Q3 25 | — | $1.2M | ||
| Q2 25 | — | $210.0K | ||
| Q1 25 | — | $3.0M | ||
| Q4 24 | — | $2.6M | ||
| Q3 24 | — | $4.3M | ||
| Q2 24 | — | $6.4M |
| Q1 26 | $492.4K | — | ||
| Q4 25 | $495.8K | — | ||
| Q3 25 | $500.0K | — | ||
| Q2 25 | $500.0K | — | ||
| Q1 25 | $500.0K | $19.6M | ||
| Q4 24 | $500.0K | $17.4M | ||
| Q3 24 | $500.0K | $17.7M | ||
| Q2 24 | $500.0K | $17.5M |
| Q1 26 | $21.6M | — | ||
| Q4 25 | $21.4M | $668.0K | ||
| Q3 25 | $23.1M | $-3.2M | ||
| Q2 25 | $14.9M | $-6.9M | ||
| Q1 25 | $35.0M | $-3.1M | ||
| Q4 24 | $37.4M | $-1.5M | ||
| Q3 24 | $37.5M | $6.3M | ||
| Q2 24 | $37.9M | $10.0M |
| Q1 26 | $26.1M | — | ||
| Q4 25 | $25.4M | $13.1M | ||
| Q3 25 | $28.4M | $23.4M | ||
| Q2 25 | $20.9M | $20.6M | ||
| Q1 25 | $39.9M | $108.1M | ||
| Q4 24 | $41.9M | $122.3M | ||
| Q3 24 | $41.4M | $127.3M | ||
| Q2 24 | $41.6M | $109.0M |
| Q1 26 | 0.02× | — | ||
| Q4 25 | 0.02× | — | ||
| Q3 25 | 0.02× | — | ||
| Q2 25 | 0.03× | — | ||
| Q1 25 | 0.01× | — | ||
| Q4 24 | 0.01× | — | ||
| Q3 24 | 0.01× | 2.80× | ||
| Q2 24 | 0.01× | 1.74× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-868.7K | $-23.0M |
| Free Cash FlowOCF − Capex | — | $-23.1M |
| FCF MarginFCF / Revenue | — | 241.6% |
| Capex IntensityCapex / Revenue | — | -0.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $-868.7K | — | ||
| Q4 25 | $-2.6M | $-23.0M | ||
| Q3 25 | $-4.2M | $-3.1M | ||
| Q2 25 | $-5.3M | $12.4M | ||
| Q1 25 | $-1.2M | $-15.6M | ||
| Q4 24 | $-1.5M | $21.2M | ||
| Q3 24 | $-2.0M | $16.4M | ||
| Q2 24 | $-4.9M | $-12.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-23.1M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $12.4M | ||
| Q1 25 | — | $-15.6M | ||
| Q4 24 | — | $21.1M | ||
| Q3 24 | — | $16.4M | ||
| Q2 24 | — | $-12.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | 241.6% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 444.4% | ||
| Q1 25 | — | -103.0% | ||
| Q4 24 | — | -478.5% | ||
| Q3 24 | — | 579.0% | ||
| Q2 24 | — | -432.2% |
| Q1 26 | — | — | ||
| Q4 25 | — | -0.8% | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | — | 2.4% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | -1.1% | ||
| Q3 24 | — | 1.0% | ||
| Q2 24 | — | 0.5% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
