Riskified Reports Strong Year-over-Year Revenue Increase of 26% in Third Quarter

November 16, 2021

Management to host a conference call today, November 16, at 8:30 a.m. ET

NEW YORK--(BUSINESS WIRE)--Nov. 16, 2021-- Riskified Ltd. (NYSE: RSKD) (the “Company”), a fraud management platform enabling frictionless eCommerce, today announced financial results for the three and nine months ended September 30, 2021. The Company will host an investor call to discuss these results today at 8:30 a.m. Eastern Time.

“The strong year-over-year increase of 28% in gross merchandise volume and 26% growth in revenue we delivered in the third quarter of 2021 underscore that many of the world’s largest online merchants are increasingly recognizing Riskified’s machine learning platform as the trusted solution for fraud management,” said Eido Gal, Co-Founder and Chief Executive Officer of Riskified. “Considering that the nearly $21 billion we processed in eCommerce GMV this quarter still represents a small sliver relative to the global eCommerce market opportunity over the next few years, we are more energized than ever to support the world’s largest eCommerce companies as they migrate away from legacy systems to our modern scalable platform.”

Q3 2021 Business Highlights

  • Continued to expand Riskified's leadership in the luxury fashion industry with the addition of Louis Vuitton, the French fashion house and luxury goods company.
  • Implemented Policy Protect product for one of Riskified's largest merchants for all of their online orders over a multiyear period, a strong validation that Riskified is well positioned to help drive additional return on investment for its merchants by solving some of their hardest challenges.
  • Hosted Riskified’s 2021 Merchant Summit, where dozens of large merchants from fashion, fitness, travel, and other industries networked and learned the latest on fraud techniques and solutions.

Q3 2021 Financial Performance Highlights

  • Gross merchandise volume (“GMV”)(1) and revenue of $20.9 billion and $52.5 million, respectively, representing year-over-year growth of 28% and 26%, respectively, primarily driven by the expansion of the platform from new and existing merchants and organic growth related to eCommerce growth. This growth reflects anticipated headwinds associated with the implementation of Payment Service Directive Two (“PSD2”) regulation, along with more muted eCommerce trends and global supply chain issues.
  • Gross profit growth from $22.0 million for the three months ended September 30, 2020 to $24.3 million for the three months ended September 30, 2021, representing year-over-year growth of 10% primarily driven by increases in GMV.
  • Net loss increased from a loss of $10.7 million for the three months ended September 30, 2020 to a loss of $86.9 million for the three months ended September 30, 2021, primarily driven by non-recurring non-cash charges of $64.4 million relating to the remeasurement of convertible preferred share warrants in conjunction with the IPO.
  • GAAP net loss per share increased $0.02 from a loss of $0.76 for the three months ended September 30, 2020 to a loss of $0.78 for the three months ended September 30, 2021. Non-GAAP net loss per share(2) increased $0.07 from a loss of $0.01 for the three months ended September 30, 2020 to a loss of $0.08 for the three months ended September 30, 2021.
  • Adjusted EBITDA(2) decreased from negative $1.8 million for the three months ended September 30, 2020 to negative $13.8 million for the three months ended September 30, 2021 due to various growth investments in the business, such as our global hiring initiatives.
  • Cash and cash equivalents, restricted cash, and short-term deposits of $534.1 million as of September 30, 2021, an increase of $413.4 million from $120.7 million as of December 31, 2020, primarily due to net proceeds of $392.3 million from the IPO, which is net of $26.2 million in underwriting discounts and commissions.

The following table summarizes our consolidated financial results for the three months ended September 30, 2021 and 2020 in thousands except for per share data:

 

Three Months Ended September 30,

 

2021

 

2020

 

(unaudited)

Revenue

$

52,533

 

 

 

$

41,695

 

 

Gross profit

$

24,283

 

 

 

$

22,030

 

 

Operating profit (loss)

$

(22,920

)

 

 

$

(2,700

)

 

Net profit (loss)

$

(86,853

)

 

 

$

(10,680

)

 

Adjusted EBITDA(2)

$

(13,759

)

 

 

$

(1,772

)

 

Net profit (loss) per share

$

(0.78

)

 

 

$

(0.76

)

 

Non-GAAP net profit (loss) per share(2)

$

(0.08

)

 

 

$

(0.01

)

 

“We are happy with our overall growth momentum year-to-date, and we expect to continue to benefit from strong underlying growth in global eCommerce, fueled by the expansion of omnichannel purchase options and higher eCommerce penetration rates,” said Aglika Dotcheva, Chief Financial Officer of Riskified. “Riskified applies unique data and machine learning capabilities to a massive and growing market. Our commitment to creating best in class solutions that solve complex problems takes time and resources. As such, we will continue to prioritize investments in the growth of our technology, our products, and our global operations team as we focus on optimally serving our customers over the long-term.”

Financial Outlook

For the year ending December 31, 2021, Riskified expects:

  • Revenue between $226.2 million and $227.2 million
  • Negative Adjusted EBITDA between $24.5 million and $25.5 million(3)

_______________

(1) GMV is a key performance indicator. See “Key Performance Indicators and Non-GAAP Metrics” for more details.

(2) Non-GAAP net profit (loss) per share and Adjusted EBITDA are non-GAAP metrics. See “Key Performance Indicators and Non-GAAP Metrics” for additional information regarding these non-GAAP metrics and “Reconciliation of GAAP to Non-GAAP Metrics” for a reconciliation of each of these non-GAAP metrics to the respective most directly comparable GAAP metrics.

(3) We are not able to provide a reconciliation of Adjusted EBITDA guidance for the fiscal year ending December 31, 2021 to net profit (loss) because certain items that are excluded from Adjusted EBITDA but included in net profit (loss) cannot be reasonably predicted or are not in our control. In particular, we are unable to forecast the timing or magnitude of share- based compensation expense and foreign currency transaction gains or losses as applicable without unreasonable efforts, and these items could significantly impact, either individually or in the aggregate, GAAP metrics in the future.

Conference Call and Webcast Details

The Company will host a conference call to discuss its financial results today, November 16, 2021 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.

Approximately one hour after completion of the live call, an archived version of the webcast will be available on Riskified's Investor Relations website at ir.riskified.com for a period of at least 30 days. To access the conference call telephonically, callers in the United States may dial 1-877-311-0521 or 1-470-495-9499 for callers outside of the United States and enter conference ID 8798659. A telephonic replay of the conference call will be available until November 23, 2021, beginning two hours after the end of the conference call. To access the replay, callers in the United States may dial 1-855-859-2056 or 1-404-537-3406 and enter the same conference ID listed above for the live call.

Key Performance Indicators and Non-GAAP Metrics

This press release and the accompanying tables contain certain key performance indicators and non-GAAP metrics: GMV, Adjusted EBITDA, non-GAAP operating expenses, non-GAAP net profit (loss) and non-GAAP net profit (loss) per share. These non-GAAP metrics should not be construed as an inference that our future results will be unaffected by unusual or other items. Adjusted EBITDA, non-GAAP operating expenses, non-GAAP net profit (loss) and non-GAAP net profit (loss) per share have limitations as analytical tools in that they do not reflect certain cash costs that may recur in the future, including, among other things, cash requirements for costs to replace assets being depreciated and amortized or cash payments for taxes. Management compensates for these limitations by relying on our GAAP results in addition to using these non-GAAP metrics as supplemental measures of our performance. The non-GAAP metrics used herein are not necessarily comparable to similarly titled captions of other companies due to different methods of calculation. Non-GAAP financial metrics should not be considered in isolation, as an alternative to, or superior to information prepared and presented in accordance with GAAP. These metrics are frequently used by analysts, investors and other interested parties to evaluate companies in our industry. By providing these non-GAAP metrics together with a reconciliation to the most comparable U.S. GAAP measure, we believe we are enhancing investors' understanding of our business and our results of operations, as well as assisting investors in evaluating how well we are executing our strategic initiatives.

We define GMV as the gross total dollar value of orders received by our merchants and reviewed through our eCommerce risk management platform during the period indicated, including orders that we did not approve.

We define Adjusted EBITDA as net profit (loss) adjusted to remove the effects of the provision for income taxes, interest income, net, other income (expense), net, depreciation and amortization, and share-based compensation expense.

We define non-GAAP operating expenses as GAAP operating expenses adjusted to remove the effects of depreciation and amortization, and share-based compensation expense.

We define non-GAAP net profit (loss) per share as non-GAAP net profit (loss) divided by non-GAAP weighted-average shares, which are defined below.

We define non-GAAP net profit (loss), which is used to compute non-GAAP net profit (loss) per share, as GAAP net profit (loss) adjusted to remove the effects of unique or non-recurring items such as remeasurement losses on our convertible preferred share warrant liabilities and convertible preferred share tranche rights, as well as non-cash expenses such as depreciation and amortization, and share-based compensation expense.

We define non-GAAP weighted-average shares, which is used to compute non-GAAP net profit (loss) per share, as GAAP weighted average shares used to compute net profit (loss) per share, adjusted to reflect the ordinary shares issued in connection with the IPO that are outstanding as of the end of the period as if they were outstanding as of the beginning of the earliest period presented for comparability.

Adjusted EBITDA, non-GAAP operating expenses, non-GAAP net profit (loss) and non-GAAP net profit (loss) per share are non-GAAP metrics that management and our board of directors use as a supplemental measure of our performance because they assist us in comparing our operating performance on a consistent basis, as they remove the impact of items that we believe do not directly reflect our core operations. We also use Adjusted EBITDA for planning purposes, including the preparation of our internal annual operating budget and financial projections, to evaluate the performance and effectiveness of our strategic initiatives and to evaluate our capacity to expand our business.

See the tables below for reconciliations of these non-GAAP financial metrics to the most directly comparable GAAP metrics.

Forward Looking Statements

Certain statements in this press release may constitute “forward-looking” statements and information, within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 that relate to our current expectations and views of future events. In some cases, these forward-looking statements can be identified by words or phrases such as “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “seek,” “believe,” “estimate,” “predict,” “potential,” “continue,” “contemplate,” “possible” or similar words. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements, including statements regarding our future growth potential, internal modeling assumptions, and business plans and strategy, reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation, the following: our limited operating history and ability to manage our growth; our history of net losses and anticipated increasing operating expenses; our ability to successfully implement our business plan in light of macroeconomic conditions, such as economic downturn, changes in consumer behavior (including as a result of COVID-19 related restrictions), global supply chain issues and other factors that may impact eCommerce volumes, that may impact the demand for our services or have a material adverse impact on our and our business partners’ financial condition and results of operations; our ability to achieve profitability; our ability to maintain and enhance our brand; our ability to develop enhancements to our products; our ability to attract new merchants, retain existing merchants and increase the sales of our products to large enterprises; merchant concentration; our dependence on the continued use of credit cards and other payment methods that expose our merchant to the risk of payment fraud; changes in laws and regulations related to the use of credit cards, such as PSD2, which may impact our GMV; our ability to continue to improve our machine learning models or if our machine learning models contain errors or are otherwise ineffective; our ability to detect errors, defects or disruptions in our platform; our ability to protect our merchants' and their consumers’ personal or other data from a security breach and to comply with laws and regulations relating to consumer data privacy and data protection; our ability to expand into markets outside the United States; our ability to predict our future revenue given our lengthy sales cycles; seasonality; our ability to operate in a highly competitive industry; our ability to achieve desired operating margins; our compliance with a wide variety of U.S. and international laws and regulations; our reliance on Amazon Web Services; our dependence on our senior management and our ability to attract new talent; our limited experience in determining the optimal pricing for our products; the concentration of our voting power as a result of our dual class structure; and other risk factors set forth in the section titled “Risk Factors” in our Prospectus dated and filed with the Securities and Exchange Commission on July 30, 2021, and other documents filed with or furnished to the SEC. These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this press release. You should not put undue reliance on any forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by applicable law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

About Riskified

Riskified empowers businesses to realize the full potential of eCommerce by making it safe, accessible, and frictionless. We have built a next-generation eCommerce risk management platform that allows online merchants to create trusted relationships with their consumers. Leveraging machine learning that benefits from a global merchant network, our platform identifies the individual behind each online interaction, helping merchants—our customers—eliminate risk and uncertainty from their business. We drive higher sales and reduce fraud and other operating costs for our merchants and strive to provide superior consumer experiences, as compared to our merchants’ performance prior to onboarding us. Learn more at riskified.com.

RISKIFIED LTD.

CONSOLIDATED BALANCE SHEETS

(in thousands, except share and per share data)

       

 

As of

September 30, 2021

 

As of

December 31, 2020

 

 

 

(unaudited)

 

 

Assets

 

 

 

Current assets:

 

 

 

Cash and cash equivalents

$

444,489

 

 

 

$

103,609

 

 

Restricted cash

4,586

 

 

 

3,048

 

 

Short-term deposits

85,024

 

 

 

14,009

 

 

Accounts receivable, net

23,459

 

 

 

37,194

 

 

Prepaid expenses and other current assets

15,102

 

 

 

5,639

 

 

Total current assets

572,660

 

 

 

163,499

 

 

Property and equipment, net

10,930

 

 

 

4,640

 

 

Deferred contract acquisition costs

8,585

 

 

 

6,983

 

 

Other assets, noncurrent

6,355

 

 

 

5,439

 

 

Total assets

$

598,530

 

 

 

$

180,561

 

 

Liabilities, Convertible Preferred Shares, and Shareholders’ Equity (Deficit)

 

 

 

Current liabilities:

 

 

 

Accounts payable

$

5,468

 

 

 

$

1,507

 

 

Accrued compensation and benefits

17,990

 

 

 

15,548

 

 

Guarantee obligations

8,454

 

 

 

12,445

 

 

Provision for chargebacks, net

8,195

 

 

 

10,582

 

 

Accrued expenses and other current liabilities

14,995

 

 

 

11,839

 

 

Total current liabilities

55,102

 

 

 

51,921

 

 

Other liabilities, noncurrent

7,584

 

 

 

12,385

 

 

Total liabilities

62,686

 

 

 

64,306

 

 

Convertible preferred shares, no par value and NIS 0.0008 par value per share as of September 30, 2021 (unaudited) and December 31, 2020, respectively; zero and 33,295,097 shares authorized as of September 30, 2021 (unaudited) and December 31, 2020, respectively; zero and 29,878,116 shares issued and outstanding as of September 30, 2021 (unaudited) and December 31, 2020, respectively; aggregate liquidation preference of zero and $165,558 as of September 30, 2021 (unaudited) and December 31, 2020, respectively

 

 

 

159,564

 

 

Shareholders’ equity (deficit):

 

 

 

Class A ordinary shares, no par value and NIS 0.0008 par value per share as of September 30, 2021 (unaudited) and December 31, 2020, respectively; 900,000,000 and 91,704,900 shares authorized as of September 30, 2021 (unaudited) and December 31, 2020; 74,281,213 and 14,310,552 shares issued and outstanding as of September 30, 2021 (unaudited) and December 31, 2020, respectively

 

 

 

4

 

 

Class B ordinary shares, no par value; 232,500,000 and zero shares authorized as of September 30, 2021 (unaudited) and December 31, 2020, respectively; 89,118,938 and zero shares issued and outstanding as of September 30, 2021 (unaudited) and December 31, 2020, respectively

 

 

 

 

 

Additional paid-in capital

754,517

 

 

 

24,366

 

 

Accumulated deficit

(218,673

)

 

 

(67,679

)

 

Total shareholders’ equity (deficit)

535,844

 

 

 

(43,309

)

 

Total liabilities, convertible preferred shares, and shareholders’ equity (deficit)

$

598,530

 

 

 

$

180,561

 

 

RISKIFIED LTD.

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except share and per share data)

       

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

2021

 

2020

 

2021

 

2020

 

(unaudited)

 

(unaudited)

Revenue

$

52,533

 

 

 

$

41,695

 

 

 

$

159,308

 

 

 

$

112,691

 

 

Cost of revenue

28,250

 

 

 

19,665

 

 

 

73,095

 

 

 

53,060

 

 

Gross profit

24,283

 

 

 

22,030

 

 

 

86,213

 

 

 

59,631

 

 

Operating expenses:

 

 

 

 

 

 

 

Research and development

14,251

 

 

 

9,504

 

 

 

38,384

 

 

 

26,752

 

 

Sales and marketing

17,466

 

 

 

9,669

 

 

 

44,950

 

 

 

31,173

 

 

General and administrative

15,486

 

 

 

5,557

 

 

 

30,798

 

 

 

15,932

 

 

Total operating expenses

47,203

 

 

 

24,730

 

 

 

114,132

 

 

 

73,857

 

 

Operating profit (loss)

(22,920

)

 

 

(2,700

)

 

 

(27,919

)

 

 

(14,226

)

 

Interest income, net

145

 

 

 

43

 

 

 

214

 

 

 

115

 

 

Other income (expense), net

(64,601

)

 

 

(7,712

)

 

 

(122,888

)

 

 

(1,243

)

 

Profit (loss) before income taxes

(87,376

)

 

 

(10,369

)

 

 

(150,593

)

 

 

(15,354

)

 

Income tax (benefit) expense

(523

)

 

 

311

 

 

 

401

 

 

 

341

 

 

Net profit (loss)

$

(86,853

)

 

 

$

(10,680

)

 

 

$

(150,994

)

 

 

$

(15,695

)

 

Net profit (loss) per share attributable to ordinary shareholders, basic and diluted

$

(0.78

)

 

 

$

(0.76

)

 

 

$

(3.21

)

 

 

$

(1.13

)

 

Weighted-average shares used in computing net profit (loss) per share attributable to ordinary shareholders, basic and diluted

111,164,396

 

 

 

14,088,284

 

 

 

47,073,853

 

 

 

13,940,459

 

 

RISKIFIED LTD.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

   

 

Nine Months Ended September 30,

 

2021

 

2020

 

(unaudited)

Cash flows from operating activities:

 

 

 

Net profit (loss)

$

(150,994

)

 

 

$

(15,695

)

 

Adjustments to reconcile net profit (loss) to net cash provided by (used in) operating activities:

 

 

 

Unrealized loss (gain) on foreign currency

(25

)

 

 

36

 

 

Provision for (benefit from) account receivable allowances

273

 

 

 

(42

)

 

Depreciation and amortization

1,787

 

 

 

915

 

 

Amortization of deferred contract costs

2,845

 

 

 

1,360

 

 

Remeasurement of convertible preferred share warrant liabilities

101,413

 

 

 

1,984

 

 

Remeasurement of convertible preferred share tranche rights

21,260

 

 

 

966

 

 

Share-based compensation expense

13,632

 

 

 

7,306

 

 

Other

424

 

 

 

 

 

Changes in operating assets and liabilities:

 

 

 

Accounts receivable

13,357

 

 

 

1,604

 

 

Deferred contract acquisition costs

(3,707

)

 

 

(4,074

)

 

Prepaid expenses and other assets

(10,928

)

 

 

(1,401

)

 

Accounts payable

1,185

 

 

 

(2,563

)

 

Accrued compensation and benefits

2,241

 

 

 

3,169

 

 

Guarantee obligations

(3,991

)

 

 

(1,232

)

 

Provision for chargebacks, net

(2,387

)

 

 

1,840

 

 

Accrued expenses and other liabilities

7,358

 

 

 

1,394

 

 

Net cash provided by (used in) operating activities

(6,257

)

 

 

(4,433

)

 

Cash flows from investing activities:

 

 

 

Purchases of short-term deposits

(110,000

)

 

 

 

 

Maturities of short-term deposits

38,985

 

 

 

 

 

Purchases of property and equipment

(4,217

)

 

 

(1,439

)

 

Capitalized software development costs

(728

)

 

 

(977

)

 

Net cash used in investing activities

(75,960

)

 

 

(2,416

)

 

Cash flows from financing activities:

 

 

 

Proceeds from issuance of Series E convertible preferred shares, net of issuance costs

26,781

 

 

 

26,776

 

 

Proceeds from exercise of share options

2,467

 

 

 

406

 

 

Proceeds from initial public offering, net of underwriting discounts and commissions

392,273

 

 

 

 

 

Proceeds from cash exercise of series E-1 warrants

6,489

 

 

 

 

 

Payments of deferred offering costs

(3,375

)

 

 

 

 

Net cash provided by financing activities

424,635

 

 

 

27,182

 

 

Net increase in cash, cash equivalents, and restricted cash

342,418

 

 

 

20,333

 

 

Cash, cash equivalents, and restricted cash—beginning of period

106,657

 

 

 

72,713

 

 

Cash, cash equivalents, and restricted cash—end of period

$

449,075

 

 

 

$

93,046

 

 

Reconciliation of GAAP to Non-GAAP Metrics

The following tables reconcile non-GAAP metrics to the most directly comparable GAAP metric and are presented in thousands except for share and per share amounts.

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

2021

 

2020

 

2021

 

2020

 

(unaudited)

 

(unaudited)

Net profit (loss)

$

(86,853

)

 

 

$

(10,680

)

 

 

$

(150,994

)

 

 

$

(15,695

)

 

Income tax (benefit) expense

(523

)

 

 

311

 

 

 

401

 

 

 

341

 

 

Interest income, net

(145

)

 

 

(43

)

 

 

(214

)

 

 

(115

)

 

Other (income) expense, net

64,601

 

 

 

7,712

 

 

 

122,888

 

 

 

1,243

 

 

Depreciation and amortization

655

 

 

 

327

 

 

 

1,787

 

 

 

915

 

 

Share-based compensation expense

8,506

 

 

 

601

 

 

 

13,632

 

 

 

7,306

 

 

Adjusted EBITDA

$

(13,759

)

 

 

$

(1,772

)

 

 

$

(12,500

)

 

 

$

(6,005

)

 

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

2021

 

2020

 

2021

 

2020

 

(unaudited)

 

(unaudited)

GAAP operating expenses

$

47,203

 

 

 

$

24,730

 

 

 

$

114,132

 

 

 

$

73,857

 

 

Depreciation and amortization

(496

)

 

 

(316

)

 

 

(1,352

)

 

 

(887

)

 

Share-based compensation expense

(8,433

)

 

 

(596

)

 

 

(13,496

)

 

 

(7,275

)

 

Non-GAAP operating expenses

$

38,274

 

 

 

$

23,818

 

 

 

$

99,284

 

 

 

$

65,695

 

 

 

Three Months Ended September 30,

 

Nine Months Ended September 30,

 

2021

 

2020

 

2021

 

2020

 

(unaudited)

 

(unaudited)

Net profit (loss)

$

(86,853

)

 

 

$

(10,680

)

 

 

$

(150,994

)

 

 

$

(15,695

)

 

Remeasurement of convertible preferred share warrant liabilities

64,401

 

 

 

2,579

 

 

 

101,413

 

 

 

1,984

 

 

Remeasurement of convertible preferred share tranche rights

 

 

 

5,621

 

 

 

21,260

 

 

 

966

 

 

Depreciation and amortization

655

 

 

 

327

 

 

 

1,787

 

 

 

915

 

 

Share-based compensation expense

8,506

 

 

 

601

 

 

 

13,632

 

 

 

7,306

 

 

Non-GAAP net profit (loss)

$

(13,291

)

 

 

$

(1,552

)

 

 

$

(12,902

)

 

 

$

(4,524

)

 

 

 

 

 

 

 

 

 

Net profit (loss) per share attributable to ordinary shareholders, basic and diluted

$

(0.78

)

 

 

$

(0.76

)

 

 

$

(3.21

)

 

 

$

(1.13

)

 

Non-GAAP net profit (loss) per share attributable to ordinary shareholders, basic and diluted

$

(0.08

)

 

 

$

(0.01

)

 

 

$

(0.08

)

 

 

$

(0.03

)

 

 

 

 

 

 

 

 

 

Weighted-average shares used in computing net profit (loss) per share attributable to ordinary shareholders, basic and diluted

111,164,396

 

 

 

14,088,284

 

 

 

47,073,853

 

 

 

13,940,459

 

 

Add: Non-GAAP weighting adjustment for ordinary shares issued in connection with IPO

50,788,044

 

 

 

146,015,629

 

 

 

113,924,282

 

 

 

146,015,629

 

 

Weighted-average shares used in computing non-GAAP net profit (loss) per share attributable to ordinary shareholders, basic and diluted(1)

161,952,440

 

 

 

160,103,913

 

 

 

160,998,135

 

 

 

159,956,088

 

 

(1) Weighted-average shares used in computing non-GAAP net profit (loss) per share reflect the ordinary shares issued in connection with the IPO that are outstanding as of the end of the period as if they were outstanding as of the beginning of the earliest period presented for comparability.

Investor Relations: Chris Mammone | The Blueshirt Group for Riskified | ir@riskified.com

Corporate Communications: Rowena Kelley | press@riskified.com

Source: Riskified Ltd.