Summary of Riskified Q2 2026 Earnings Call

1Key Financial Results and Metrics

Revenue: $98.7 million, up 22% year-over-year, marking the strongest growth in over four years.

Gross Profit: $45.4 million, a 13% increase year-over-year, with a gross margin of 46%.

Adjusted EBITDA: $3.9 million, an 84% increase from $2.1 million in Q2 2025.

Net Loss: Improved to $9.1 million, down from $11.6 million year-over-year.

Free Cash Flow: $12.9 million, with expectations to exceed $40 million for the year.

GMV: $41.3 million, reflecting a 13% increase year-over-year.

2Strategic Updates and Business Highlights

Platform Growth: The multiproduct merchant base grew approximately 50% year-over-year, indicating strong demand for Riskified's unified platform approach.

New Business Momentum: Significant new logo acquisition across all regions, with notable contributions from digital finance and travel sectors.

Product Innovations: Expanded capabilities in identity intelligence and fraud detection, enhancing customer experience and operational efficiency.

Market Positioning: Strong competitive win rates above 75%, with a focus on addressing complex fraud challenges through integrated solutions.

3Forward Guidance and Outlook

Revenue Guidance: Raised to a range of $400 million to $410 million for the full year, reflecting strong Q2 performance and increased transaction volumes.

Adjusted EBITDA Guidance: Increased to a range of $33 million to $39 million, with expectations of approximately 27% revenue growth in Q3.

Net Dollar Retention: Expected to remain around 105%, driven primarily by new business rather than upsell activity.

4Challenges and Points of Concern

Gross Margin Fluctuations: Gross margins were down year-over-year due to a mix shift towards lower-margin new business and increased activity in ticketing, which typically has lower margins.

Net Loss Factors: The GAAP net loss was affected by declining interest income and foreign currency fluctuations.

Market Risks: The complexity of fraud continues to evolve, posing ongoing challenges for Riskified and its clients.

5Notable Q&A Insights

New Logo Momentum: The recent quarter showed a notable inflection in new business momentum, attributed to both product expansion and increasing fraud complexity.

Take Rate Dynamics: The revenue take rate is influenced by the higher risk profile of new business, with expectations of slight fluctuations moving forward.

Identity Intelligence Demand: There is increasing demand for identity intelligence beyond fraud prevention, enhancing customer experiences and potentially opening new budgets within client organizations.

Partnership with Marqeta: This partnership aims to enhance approval rates for transactions, providing a competitive edge in the market and improving retention with merchants. Overall, Riskified demonstrated strong financial performance in Q2 2026, driven by robust demand for its fraud prevention solutions and strategic platform enhancements, while also navigating some challenges related to margin pressures and evolving market dynamics.