Riskified Ltd. (RSKD)

Price$7.78Cached quoteAs of 2026-09-27 12:26 UTC

AI: Fair-priced

Verified ordinary-share listing, with accelerating transaction-driven growthRSKD is Riskified Ltd.'s NYSE-listed, USD-quoted Class A ordinary share—not an ADS or ADR. The Israeli-incorporated company provides e-commerce fraud screening, chargeback protection and abuse-prevention software. Latest unaudited results, released August 12 for June 30, report quarterly revenue of $98.7 million, up 22%.

Reviewed merchant transaction volume was $41.3 billion, but this is not Riskified revenue or necessarily completed customer purchases. New merchants and expanded existing relationships supported growth.

Moderate sales valuation balances growth against incomplete profitabilityStock Analysis reports enterprise value at 2.22 times trailing sales and equity value at 21.82 times its trailing free-cash-flow measure. These are provider-calculated historical ratios, not intrinsic-value estimates. Continuing GAAP losses make a positive earnings multiple unavailable.

Quarterly GAAP gross margin declined to 46% from 49%, and net loss was $9.1 million. Adjusted EBITDA was positive $3.9 million, but excludes stock-based compensation and other expenses. Management attributed some margin pressure to new-merchant ramp-ups; anticipated improvement is not an established outcome.

Financial reserves remain substantial despite aggressive repurchasesJune-end cash, deposits and investments totalled $223.6 million, with no reported borrowed-money debt. Operating-lease liabilities nevertheless totalled $23.5 million. These are June balances, not verified September liquidity.

First-half operating cash flow was $22.9 million; company-defined free cash flow was $22.0 million after equipment and capitalized-software investment. Treasury-share purchases consumed $91.8 million, substantially exceeding internally generated cash. Stock-based compensation was $21.4 million, creating continuing dilution exposure despite buybacks.

Fraud guarantees and concentrated voting rights warrant a discountRiskified generally charges risk-adjusted fees on approved transactions and reimburses eligible fraudulent chargebacks. This is not a risk-free subscription model: inaccurate fraud decisions, coordinated attacks or adverse merchant mix can directly increase costs. The five largest merchants generated 32% of 2025 revenue.

Class B shares carry ten votes each, versus one for publicly traded Class A shares, limiting minority influence. Merchant concentration, competing fraud tools, privacy requirements, third-party cloud dependence and disruption to Israeli operations remain material risks. Average trading volume was 2,411,418 shares over 20 trading days; activity does not guarantee execution depth.

AI: News

September 28: Truist's positive assessment emphasizes broader customer growthThe Fly reported that Truist maintained its Buy recommendation, citing accelerating growth and new customer wins across multiple end markets. This is an attributed analyst assessment, not new company financial results or a verified forecast of investment returns.

Truist also identified AI-assisted shopping as a potential source of additional fraud-prevention demand. That opportunity remains prospective: the research report does not establish contracted revenue, guaranteed market share or future profitability. No analyst price target is incorporated into this overview's verdict.

September 15: Zendesk integration announced, with general availability still aheadRiskified announced an integration bringing identity-risk information into Zendesk's customer-service workflows, helping human and AI agents assess returns, refunds and order-change requests. General availability is scheduled for November 2026—not already established across Zendesk's customer base.

The announcement did not quantify contract value, incremental revenue or profit contribution. Broader distribution could increase adoption, but that is an investment inference. Successful deployment, merchant uptake and demonstrable fraud reduction remain necessary before the integration can be credited with improving financial performance.

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Revenue

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2020

2021

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2024

2025

Net income

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2022

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2025

Free cash flow

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Total cash / debt

CashTotal debt

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Financial statements

	2025	2024	2023	2022	2021	2020	2019
Revenue	$344.6M	$327.5M	$297.6M	$261.2M	$229.1M	$169.7M	$130.6M
Gross profit	$178.1M	$170.9M	$152.5M	$135.1M	$123.0M	$92.8M	$65.7M
Gross margin	51.67%	52.19%	51.25%	51.71%	53.67%	54.69%	50.31%
Research & development	$69.4M	$68.1M	$71.6M	$72.0M	$55.3M	$36.6M	$25.0M
Operating expenses	$212.1M	$218.8M	$229.4M	$244.4M	$178.9M	$99.6M	$79.6M
Operating income	−$34.0M	−$47.9M	−$76.8M	−$109.3M	−$55.9M	−$6.8M	−$13.9M
Operating margin	−9.88%	−14.61%	−25.82%	−41.86%	−24.41%	−4.01%	−10.63%
EBITDA	−$31.6M	−$44.5M	−$73.3M	−$105.7M	−$54.0M	−$5.4M	−$13.2M
EBITDA margin	−9.16%	−13.59%	−24.62%	−40.48%	−23.55%	−3.21%	−10.08%
Net income	−$27.6M	−$34.9M	−$59.0M	−$104.7M	−$179.4M	−$11.3M	−$14.2M
Net profit margin	−8.00%	−10.66%	−19.84%	−40.08%	−78.31%	−6.68%	−10.86%
Basic EPSper basic share	-$0.18	-$0.20	-$0.33	$0.62	—	—	—
Diluted EPSper diluted share	-$0.18	-$0.20	-$0.33	$0.62	—	—	—

Review official source filings ↗

Owners

Reported shareholders

Reference date Jun 30, 2026

Reported holdings Number of shares

View holders

Top 20 reported holders of RSKD
Holder	Shares held
Capital World Investors	8.52M
Gal Eido	5.54M
GENERAL ATLANTIC, L.P.	5.32M
ACADIAN ASSET MANAGEMENT LLC	4.61M
Clal Insurance Enterprises Holdings Ltd	4.28M
MONIMUS CAPITAL MANAGEMENT, LP	3.62M
Phoenix Financial Ltd.	3.25M
Shachar Erez	3.21M
Harvey Partners, LLC	3.17M
Clearline Capital LP	3.11M
Kishon Eyal	2.81M
Feldman Assaf	2.16M
BlackRock, Inc.	2.08M
Kumaraswami Ravi	1.87M
Dotcheva Aglika	1.8M
RENAISSANCE TECHNOLOGIES LLC	1.34M
STATE STREET CORP	773.51K
ESSEX INVESTMENT MANAGEMENT CO LLC	769.09K
HRT FINANCIAL LP	764.82K
TWO SIGMA INVESTMENTS, LP	702.29K

Bars compare reported share counts. A matching total for this share class and reporting period is unavailable, so percentages are not shown.

Source: SEC Form 13F ↗Updated Sep 29, 2026 · Quarterly data

Insider buys & sells

Jul 1, 2024–Jun 30, 2026

Buys0$0.00 disclosed value

Sells (SEC code S)33$13.86M disclosed value

Transaction	Insider	Type	Shares	Price	Value	Owned after
Jun 26, 2026Form 4 · 10b5-1	Kumaraswami RaviPres. Worldwide Field Ops.	SellClass A Ordinary Shares	100	$5.00	$500.00	1.87M
Jun 26, 2026Form 4 · 10b5-1	Shachar ErezDirector	SellClass A Ordinary Shares · indirect	356.0K	$5.02	$1.79M	3.13M
Jun 25, 2026Form 4 · 10b5-1	Kumaraswami RaviPres. Worldwide Field Ops.	SellClass A Ordinary Shares	33.4K	$5.00	$167.0K	1.87M
Jun 25, 2026Form 4 · 10b5-1	Shachar ErezDirector	SellClass A Ordinary Shares · indirect	124.1K	$4.96	$615.5K	3.49M
Jun 24, 2026Form 4 · 10b5-1	Shachar ErezDirector	SellClass A Ordinary Shares · indirect	168.3K	$4.89	$823.0K	3.61M