Riskified Shares Gain On Q2 Earnings Beat; Clocks 21% Revenue Growth

Riskified Ltd. RSKD reported second-quarter FY23 revenue growth of 21% year-on-year to $72.77 million, marginally beating the consensus of $72.08 million. The e-commerce risk management platform registered a breakeven adjusted EPS of $0.00, beating the consensus of $(0.02) loss.

Onboarding of new merchants and soaring gross merchandise volume resulted in street-beating results in Q2.

The gross merchandise volume grew 21.9% Y/Y to $30.96 billion.

Gross profit rose 21% Y/Y to $37.02 million, with a 51% flat Y/Y margin.

Riskified held $476.1 million in cash and equivalents. 

Riskified authorized the repurchase of up to $75 million of the company's ordinary shares, subject to approval by the Tel Aviv District Court Economic Department.

Outlook: Riskified tightened FY23 revenue guidance to $298 million-$303 million, versus $300.57 million consensus (Prior View: $297 million-$303 million). The current view stands at $300.5 million to the midpoint.

The company continues to expect FY23 Adjusted EBITDA to be negative $(17) million-negative $(12) million, or negative $(14.5) million to the midpoint.

Price Action: RSKD shares are trading higher by 9.98% to $4.6850 on the last check Tuesday.