Shares of eCommerce fraud and risk intelligence solutions provider Riskified Ltd. (NYSE:RSKD) are trending higher today after the company delivered better-than-anticipated first-quarter numbers.
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Revenue rose 17.1% year-over-year to $68.9 million, outperforming estimates by nearly $220,000. Additionally, a flat bottom line at $0.0 was in sharp contrast to the Street’s expected net loss per share of $0.15. Impressively, gross merchandise volume on the platform rose to $27.23 billion from $22.68 billion a year ago.
Further, the company’s adjusted EBITDA loss narrowed to $5.2 million from $13.4 million a year ago and it is aiming to achieve profitability on an adjusted EBITDA basis by the last quarter of this year.
Looking ahead, for the full year, revenue is anticipated between $297 million and $303 million. Adjusted EBITDA is anticipated between negative $17 million to negative $12 million. This implies a 41% improvement over the earlier outlook at the midpoint.
Today’s price gains come after a nearly 21.3% drop in the share price over the past three months.
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