Riskified Reports Fourth Quarter and Full Year 2025 Results (Form 6-K)

Riskified Reports Fourth Quarter and Full Year 2025 Results

Provides Initial 2026 Outlook

NEW YORK, March 4, 2026 - Riskified Ltd. (NYSE: RSKD) (the "Company"), a leader in ecommerce fraud and risk intelligence, today announced financial results for the three and twelve months ended December 31, 2025. The Company will host an investor call to discuss these results today at 8:30 a.m. Eastern Time.

"We ended the year with a strong quarter of performance, and we are starting 2026 with momentum. As fraud increases in complexity, the role that Riskified plays in the global ecommerce ecosystem becomes even more essential. I am confident in our artificial intelligence platform, and our ability to deliver value for our shareholders," said Eido Gal, Co-Founder and Chief Executive Officer of Riskified.

Q4 2025 Business Highlights

•Accelerated Gross Profit Growth: We recorded the largest quarterly gross profit in our company's history in the fourth quarter. We currently expect year-over-year gross profit growth to accelerate in 2026, supported by ongoing technical model performance improvement.

•Achieved GAAP Profitability: We achieved GAAP profitability in the fourth quarter of 2025, reflecting the scalability of our business model.

•Further Vertical and Geographic Diversification with the Addition of New Merchants: We continued to have success landing new merchants on the Riskified platform, which in turn deepened our vertical and geographic reach. Our top ten new logos added during the fourth quarter represented wins in each of our six verticals and across three geographies. Five of our top ten new logos won were headquartered in the United States.

•Go-To-Market Strength: Our go-to-market team delivered another successful year, capped by a particularly strong fourth quarter. In Q4, we secured our highest quarterly new business total in several years, accounting for approximately 55% of full-year new business won.

•Expansion of AI Agent Intelligence to Secure Native Merchant AI Shopping Assistants: We recently announced the expansion of our AI Agent Intelligence platform, positioning the company as a definitive shield for the next era of ecommerce. As merchants explore deploying their own native, conversational AI shopping assistants to elevate their customer experiences, we are helping to ensure that these new touchpoints are protected from sophisticated fraud and abuse through the introduction of several capabilities designed specifically for merchants' conversational AI shopping assistants.

•Further Expansion in Latin America: We recently onboarded a merchant in Latin America that centralizes, optimizes, and scales direct sales and ecommerce for leading bus and ground transportation companies in Latin America. The company selected Riskified as its strategic partner for ecommerce fraud protection and risk intelligence. The partnership reflects our accelerating momentum in the Latin American ecommerce market, supporting brands as they navigate complex regional payment landscapes.

•Record Quarter and Full Year of Adjusted EBITDA: We expanded Adjusted EBITDA margin by approximately 300 basis points in 2025. Fourth-quarter Adjusted EBITDA of $17.7 million surpassed our full-year 2024 total, reflecting sustained revenue growth, gross margin expansion, and disciplined expense management across the business.

•Share Repurchase Program Update: During 2025 we repurchased approximately 22.0 million shares for a total price of approximately $105.9 million. Since the inception of our buyback program in November 2023, we have repurchased approximately 52.0 million shares for a total price of $259.5 million which has contributed to a meaningful reduction in shares outstanding. In addition, our Board of Directors has authorized the repurchase of an additional $75 million of the Company's ordinary shares, subject to the completion of Israeli regulatory procedures. Assuming completion of the required Israeli regulatory procedures, our total aggregate repurchase authorization outstanding was approximately $85.1 million as of March 2, 2026.

•Introduced Dynamic Returns Feature: To help retailer fraud and customer experience teams improve the customer claims process, we introduced Dynamic Returns, a new feature within our Policy Protect product. Dynamic Returns enables refund and exchange options to be tailored in real-time based on customer risk and eligibility. Rather than applying uniform rules or delaying refunds until warehouse inspection, merchants have the identity insights they need to assess customer eligibility and trigger the appropriate outcome, using real-time return intelligence that evaluates customer behavior and network-level signals.

Q4 2025 Financial Summary & Highlights

The following table summarizes our consolidated financial results for the three and twelve months ended December 31, 2025 and 2024, in thousands except where indicated:

			Three Months Ended December 31,												Year Ended December 31,
			2025						2024						2025						2024
			(unaudited)												(unaudited)
Gross merchandise volume ("GMV") in millions(1)			$	46,692					$	39,486					$	155,102					$	141,198
Increase in GMV year over year			18		%										10		%
Revenue			$	99,329					$	93,529					$	344,638					$	327,516
Increase in revenues year over year			6		%										5		%
GAAP Gross profit			$	56,805					$	48,861					$	178,072					$	170,939
GAAP Gross profit margin			57		%				52		%				52		%				52		%
Net profit (loss)			$	5,760					$	(4,084)					$	(27,565)					$	(34,922)
Net profit (loss) margin			6		%				(4)		%				(8)		%				(11)		%
Adjusted EBITDA(1)			$	17,718					$	11,204					$	26,724					$	17,194
Adjusted EBITDA margin(1)			18		%				12		%				8		%				5		%

Additional Financial Highlights

•GAAP gross profit margin of 57% for the three months ended December 31, 2025 compared to 52% in the prior year. Non-GAAP gross profit margin(1) of 58% for the three months ended December 31, 2025 compared to 53% in the prior year. GAAP gross profit margin of 52% for the year ended December 31, 2025 compared to 52% in the prior year. Non-GAAP gross profit margin(1) of 52% for the year ended December 31, 2025 compared to 53% in the prior year.

•GAAP diluted net profit per share of $0.04 for the three months ended December 31, 2025 compared to net loss per share of $(0.02) in the prior year. Non-GAAP diluted net profit per share(1) of $0.12 for the three months ended December 31, 2025 compared to $0.06 in the prior year. GAAP net loss per share of $(0.18) for the year ended December 31, 2025 compared to $(0.20) in the prior year. Non-GAAP diluted net profit per share(1) of $0.20 for the year ended December 31, 2025 compared to $0.17 in the prior year.

•Operating cash inflow of $10.9 million for the three months ended December 31, 2025 compared to $10.7 million in the prior year. Free cash inflow(1) of $10.7 million for the three months ended December 31, 2025 compared to $10.6 million in the prior year. Operating cash inflow of $33.9 million for the year ended December 31, 2025 compared to $39.7 million in the prior year. Free cash inflow(1) of $33.1 million for the year ended December 31, 2025 compared to $39.1 million in the prior year.

•Ended December 31, 2025 with approximately $297.6 million of cash, deposits, and investments on the balance sheet and zero debt.

"Our fourth quarter revenues of nearly $100 million were a record since inception and contributed to our first ever quarter of GAAP profitability. Furthermore, we achieved an 18% Adjusted EBITDA margin in the fourth quarter, highlighting the scale and potential of our business. These results are the culmination of consistent, high-quality execution across the year and I am confident in our ability to grow the business moving forward," said Aglika Dotcheva, Chief Financial Officer of Riskified.

Financial Outlook

For the year ending December 31, 2026, we expect:

•Revenue between $372 million and $384 million

•Adjusted EBITDA(2) between $26 million and $34 million, representing an Adjusted EBITDA margin of 8%. This includes a FX headwind of approximately 400 basis points at the midpoint.

2

(1) GMV is a key performance indicator. Adjusted EBITDA, Adjusted EBITDA margin, non-GAAP gross profit margin, non-GAAP diluted net profit per share, and free cash flow are non-GAAP measures of financial performance. See "Key Performance Indicators and Non-GAAP Measures" for additional information and "Reconciliation of GAAP to Non-GAAP Measures" for a reconciliation to the most directly comparable GAAP measure.

(2) We refer to certain forward-looking non-GAAP financial measures in this press release and on our quarterly results conference call. We are not able to provide a reconciliation of forward-looking Adjusted EBITDA, Adjusted EBITDA margin, non-GAAP gross profit, non-GAAP gross profit margin, non-GAAP operating expense, or free cash flow for the fiscal year ending December 31, 2025 to net profit (loss), gross profit, total operating expenses, and operating cash flow, respectively, because certain items that are excluded from these non-GAAP metrics but included in the most directly comparable GAAP financial measures, cannot be predicted on a forward-looking basis without unreasonable effort or are not within our control. For example, we are unable to forecast the magnitude of foreign currency transaction gains or losses which are subject to many economic and other factors beyond our control. For the same reasons, we are unable to address the probable significance of the unavailable information, which could have a potentially unpredictable and significant impact on our future GAAP financial results.

Authorization to Repurchase Ordinary Shares

On March 2, 2026, the Company's Board of Directors authorized the repurchase of up to $75 million of the Company's Class A ordinary shares, subject to the completion of required Israeli regulatory procedures. This authorization is in addition to the Company's existing $300 million share repurchase authorizations in the aggregate, of which approximately $289.9 million had been utilized as of March 2, 2026. Any share repurchases under the program may be made from time to time in the open market, including through trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), in privately negotiated transactions or by other means in accordance with U.S. federal securities laws. The Company intends to fund repurchases from existing cash and cash equivalents. Following, and subject to, completion of the required Israeli regulatory procedures, the timing, as well as the number and value of any shares repurchased under the program, will be determined by the Company at its discretion under the Board authorized program and will depend on a variety of factors, including management's assessment of the intrinsic value of the Company's Class A ordinary shares, the market price of the Company's Class A ordinary shares, general market and economic conditions, available liquidity, alternative investment opportunities, and applicable legal requirements. The Company is not obligated to acquire any particular amount of Class A ordinary shares under the program, and the program may be suspended, modified or discontinued at any time without prior notice. This press release is neither an offer to purchase nor a solicitation of an offer to buy any securities.

Conference Call and Webcast Details

The Company will host a conference call to discuss its financial results today, March 4, 2026 at 8:30 a.m. Eastern Time. A live webcast of the call can be accessed from Riskified's Investor Relations website at ir.riskified.com. A replay of the webcast will also be available for a limited time at ir.riskified.com. The press release with the financial results, as well as the investor presentation materials will be accessible on the Company's Investor Relations website prior to the conference call.

Key Performance Indicators and Non-GAAP Measures