REGO Payment Architectures, Inc. reported a net loss of approximately $11.6 million for the fiscal year ending December 31, 2024, a decrease from a loss of $18.9 million in the previous year. The company has not generated significant revenue since its inception, with total revenues remaining at $0 for both 2024 and 2023. The reduction in net loss was primarily attributed to a decrease in general and administrative expenses, which fell by $7.1 million, and a reduction in sales and marketing costs by $1.2 million. However, product development expenses increased by $0.4 million, reflecting ongoing investments in the Mazoola® app and related technologies.
In terms of operational developments, REGO has focused on enhancing its Mazoola® Digital Wallet Platform, which is designed to provide a secure online environment for minors to manage their finances under parental supervision. The company has made significant strides in compliance with the Children’s Online Privacy Protection Act (COPPA) and the General Data Protection Regulation (GDPR), which are critical for its target demographic. As of March 31, 2025, REGO had 136,248,105 shares of common stock outstanding, with a market value of approximately $73.2 million based on the last reported sale price.
Strategically, REGO has entered into partnerships to expand its market reach. Notably, the company executed a strategic partnership agreement with Computer Services, Inc. to integrate its family wallet into CSI’s digital banking platform, which serves over 500 financial institutions. Additionally, a collaboration with Jack Henry & Associates aims to offer the family wallet to approximately 7,500 financial institutions. These partnerships are expected to enhance product adoption and broaden the company's customer base.
Despite these developments, REGO faces challenges, including a substantial accumulated deficit of approximately $147.7 million as of December 31, 2024. The company has indicated that it will require additional capital to sustain operations and execute its business plan, which may involve raising funds through the sale of equity or debt securities. Management has expressed uncertainty about the company's ability to continue as a going concern without generating sufficient revenue or securing additional financing. The outlook for 2025 remains cautious, with expectations of limited revenue generation until at least the second quarter of 2025.
About REGO PAYMENT ARCHITECTURES, INC.
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