-Now publicly listed under the ticker symbol “RSKD” on the New York Stock Exchange
-Management to host a conference call today, September 9, at 8:30 a.m. ET
Riskified Ltd. , a fraud management platform enabling frictionless eCommerce, announced financial results for the three and six months ended June 30, 2021. The Company will host an investor call to discuss these results today at 8:30 a.m. Eastern Time.
“The strong 47% growth in revenue and 55% growth in gross merchandise volume we delivered in Q2 2021 as compared to Q2 2020 underscore that many of the world’s largest online merchants are increasingly recognizing Riskified’s machine learning solution as the new paradigm in fraud management,” said Eido Gal, Co-Founder and Chief Executive Officer of Riskified. “We are very proud of the positive market reception to our recent IPO and excited for the journey ahead as we continue to benefit from several structural tailwinds that we expect to drive continued demand for our platform.”
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“The strong 47% growth in revenue and 55% growth in gross merchandise volume we delivered in Q2 2021 as compared to Q2 2020 underscore that many of the world’s largest online merchants are increasingly recognizing Riskified’s machine learning solution as the new paradigm in fraud management”
Q2 2021 Business Highlights
- Onboarded several prominent new merchants in multiple, rapidly-growing eCommerce categories, including several that Riskified has not previously served (e.g. payments platforms)
- Continued expansion in several large international markets, including Australia, China, and the United Kingdom.
- Continued to optimize and evolve the Riskified platform in response to the most pressing needs of our merchants. Riskified’s machine learning algorithms benefited from more than 150 million new eCommerce transactions processed through the platform during the quarter. The Company also further customized its platform for several enterprise merchants using multiple Riskified products.
- Renewed partnership with Wayfair, one of the world’s largest destinations for the home. Extending this partnership will allow Riskified and Wayfair to continue solving complex problems related to online shopping, checkout and payments.
- Subsequent to Q2, completed initial public offering (“IPO”) on August 2, 2021, raising net proceeds of approximately $386.7 million.
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Q2 2021 Financial Performance Highlights
- Revenue and gross merchandise volume (“GMV”)(1) of $55.7 million and $21.5 billion, respectively, representing year over year growth of 47% and 55%, respectively.
- Gross profit growth from $20.1 million for the three months ended June 30, 2020 to $33.3 million for the three months ended June 30, 2021, representing year over year growth of 65%.
- Net loss increased $13.2 million from a loss of $7.3 million for the three months ended June 30, 2020 to a loss of $20.5 million for the three months ended June 30, 2021.
- Adjusted EBITDA(2) growth of $2.7 million from a negative $1.1 million for the three months ended June 30, 2020 to a positive $1.6 million for the three months ended June 30, 2021.
- Cash and cash equivalents, restricted cash, and short-term deposits of $149.7 million as of June 30, 2021, an increase of $29.0 million from $120.7 million as of December 31, 2020, which does not include net proceeds of $386.7 million from the IPO completed subsequent to June 30, 2021.
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