Riskified Ltd. Class A ( (RSKD) ) has released its Q3 earnings. Here is a breakdown of the information Riskified Ltd. Class A presented to its investors.
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Riskified Ltd. is a prominent company in the ecommerce sector, specializing in fraud and risk intelligence solutions powered by advanced Artificial Intelligence technology. The company is recognized for its ability to protect businesses from ecommerce fraud while enhancing customer retention and experience.
In its latest earnings report, Riskified Ltd. announced record quarterly free cash flow and an improved financial outlook for the fiscal year 2024. The company also revealed a significant expansion of its share repurchase program, with an additional $75 million authorized by the Board.
Key highlights of the quarter include a 17% year-over-year increase in gross merchandise volume, reaching $34.7 billion, and a 10% rise in revenues totaling $78.8 million. Additionally, Riskified achieved its largest Policy Protect deal to date and made notable inroads in the fashion and ticketing sectors, further diversifying its client base geographically and across various sectors.
Despite reporting a net loss of $9.7 million for the quarter, the company improved its adjusted EBITDA to $899,000 from a loss of $8.4 million in the previous year. Riskified also ended the quarter with a robust cash position of $389.8 million and zero debt, highlighting its strong financial discipline and strategic focus on shareholder value.
Looking ahead, Riskified’s management anticipates continued growth and improved profitability, with revenue expected to range between $322 million and $327 million for the full year 2024. This optimistic outlook is supported by the company’s ongoing strategic initiatives and market expansion efforts.
