Riskified Inc. · Q1 2025 earnings

Briefing

Riskified Q1 2025: $82.4M revenue (+8%), sixth straight positive adjusted EBITDA quarter

Riskified reported Q1 2025 results on May 14, 2025 for the three months ended March 31, 2025. Revenue grew 8% year over year to $82.4 million while gross merchandise volume rose 7% to $34.2 billion. GAAP gross profit was $40.5 million but gross margin compressed to 49% from 55%. The company posted a GAAP net loss of $13.9 million while delivering $1.3 million in adjusted EBITDA, the sixth consecutive quarter of positive adjusted EBITDA. Non-GAAP operating expenses declined to 48% of revenue from 53%. Cash, deposits and investments totaled approximately $357.1 million with zero debt. Full-year 2025 guidance calls for revenue of $333–$346 million and adjusted EBITDA of $18–$26 million.

• Revenue of $82.4M (+8% YoY); GMV grew 7% to $34.2 billion
• GAAP net loss of $13.9M; adjusted EBITDA of $1.3M marks sixth consecutive positive quarter
• GAAP gross margin fell to 49% from 55%; non-GAAP opex improved to 48% of revenue
• Travel and other verticals grew mid-teens; fashion/luxury growth partially offset by in-store pressure
• Balance sheet: ~$357M cash/deposits/investments, zero debt; FY25 revenue guide $333–$346M

Headline financials

Revenue & EPS history

For full-year 2025 Riskified expects revenue of $333–$346 million and adjusted EBITDA of $18–$26 million.