Riskified Ltd.(NYSE:RSKD)

Riskified Ltd. operates an e-commerce risk management platform that allows online merchants to create trusted relationships with their consumers in the United States, Europe, the Middle East, Africa, and internationally. It offers Chargeback Guarantee that approves or denies online orders; Policy Pr...
Website: http://www.riskified.com
Founded: 2012
CEO / Co-Founder: Eido Gal
Sector: Technology
Industry: Software—Application
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At a glance:
Bull Thesis:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 |
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revenue | 81,862,000 | 81,060,000 | 82,387,000 | 93,529,000 | 78,849,000 | 78,730,000 | 76,408,000 | 84,065,000 | 71,872,000 | 72,766,000 | 68,907,000 | 79,298,000 | 63,172,000 | 59,932,000 | 58,845,000 | 69,833,000 | 52,533,000 | 55,692,000 |
yoy | 3.82% | 2.96% | 7.83% | 11.26% | 9.71% | 8.20% | 10.89% | 6.01% | 13.77% | 21.41% | 17.10% | 13.55% | 20.25% | 7.61% | ||||
qoq | 0.99% | -1.61% | -11.91% | 18.62% | 0.15% | 3.04% | -9.11% | 16.96% | -1.23% | 5.60% | -13.10% | 25.53% | 5.41% | 1.85% | -15.73% | 32.93% | -5.67% | |
cost of revenue | 40,799,000 | 41,310,000 | 41,933,000 | 44,668,000 | 39,893,000 | 37,728,000 | 34,288,000 | 35,550,000 | 40,732,000 | 35,743,000 | 33,066,000 | 37,854,000 | 30,493,000 | 29,326,000 | 28,477,000 | 33,075,000 | 28,250,000 | 22,390,000 |
gross profit | 41,063,000 | 39,750,000 | 40,454,000 | 48,861,000 | 38,956,000 | 41,002,000 | 42,120,000 | 48,515,000 | 31,140,000 | 37,023,000 | 35,841,000 | 41,444,000 | 32,679,000 | 30,606,000 | 30,368,000 | 36,758,000 | 24,283,000 | 33,302,000 |
yoy | 5.41% | -3.05% | -3.96% | 0.71% | 25.10% | 10.75% | 17.52% | 17.06% | -4.71% | 20.97% | 18.02% | 12.75% | 34.58% | -8.10% | ||||
qoq | 3.30% | -1.74% | -17.21% | 25.43% | -4.99% | -2.65% | -13.18% | 55.80% | -15.89% | 3.30% | -13.52% | 26.82% | 6.77% | 0.78% | -17.38% | 51.37% | -27.08% | |
gross margin % | 50.16% | 49.04% | 49.10% | 52.24% | 49.41% | 52.08% | 55.13% | 57.71% | 43.33% | 50.88% | 52.01% | 52.26% | 51.73% | 51.07% | 51.61% | 52.64% | 46.22% | 59.80% |
operating expenses: | ||||||||||||||||||
research and development | 17,006,000 | 17,167,000 | 18,077,000 | 16,543,000 | 16,671,000 | 17,079,000 | 17,772,000 | 17,122,000 | 17,397,000 | 18,264,000 | 18,794,000 | 18,502,000 | 17,452,000 | 17,947,000 | 18,113,000 | 16,917,000 | 14,251,000 | 12,439,000 |
sales and marketing | 18,565,000 | 21,452,000 | 22,782,000 | 19,708,000 | 20,999,000 | 22,468,000 | 23,214,000 | 21,344,000 | 21,758,000 | 23,216,000 | 22,123,000 | 21,167,000 | 20,534,000 | 22,892,000 | 23,129,000 | 25,215,000 | 17,466,000 | 14,812,000 |
general and administrative | 14,443,000 | 14,137,000 | 16,653,000 | 16,024,000 | 15,616,000 | 15,650,000 | 17,047,000 | 16,613,000 | 17,195,000 | 17,629,000 | 17,913,000 | 18,802,000 | 20,685,000 | 22,554,000 | 21,952,000 | 22,105,000 | 15,486,000 | 7,701,000 |
total operating expenses | 50,014,000 | 52,756,000 | 57,512,000 | 52,275,000 | 53,286,000 | 55,197,000 | 58,033,000 | 55,079,000 | 56,350,000 | 59,109,000 | 58,830,000 | 58,471,000 | 58,671,000 | 63,393,000 | 63,194,000 | 64,237,000 | 47,203,000 | 34,952,000 |
operating profit | -8,951,000 | -13,006,000 | -17,058,000 | -3,414,000 | -14,330,000 | -14,195,000 | -15,913,000 | -6,564,000 | -25,210,000 | -22,086,000 | -22,989,000 | -17,027,000 | -25,992,000 | -32,787,000 | -32,826,000 | -27,479,000 | -22,920,000 | -1,650,000 |
yoy | -37.54% | -8.38% | 7.20% | -47.99% | -43.16% | -35.73% | -30.78% | -61.45% | -3.01% | -32.64% | -29.97% | -38.04% | 13.40% | 1887.09% | ||||
qoq | -31.18% | -23.75% | 399.65% | -76.18% | 0.95% | -10.80% | 142.43% | -73.96% | 14.14% | -3.93% | 35.01% | -34.49% | -20.72% | -0.12% | 19.46% | 19.89% | 1289.09% | |
operating margin % | -10.93% | -16.04% | -20.70% | -3.65% | -18.17% | -18.03% | -20.83% | -7.81% | -35.08% | -30.35% | -33.36% | -21.47% | -41.14% | -54.71% | -55.78% | -39.35% | -43.63% | -2.96% |
interest income | 3,274,000 | 3,569,000 | 3,725,000 | 3,978,000 | 5,050,000 | 5,398,000 | 5,741,000 | 5,994,000 | 5,717,000 | 5,617,000 | 5,447,000 | 5,064,000 | 3,123,000 | 1,319,000 | 674,000 | 377,000 | 145,000 | 35,000 |
other income | -328,000 | -471,000 | 844,000 | -1,215,000 | 220,000 | 337,000 | -160,000 | -218,000 | -193,000 | 503,000 | 745,000 | 1,714,000 | -1,133,000 | -44,000 | -32,000 | 368,000 | -64,601,000 | -18,565,000 |
profit before income taxes | -6,005,000 | -9,908,000 | -12,489,000 | -651,000 | -9,060,000 | -8,460,000 | -10,332,000 | -788,000 | -19,686,000 | -15,966,000 | -16,797,000 | -10,249,000 | -24,002,000 | -31,512,000 | -32,184,000 | -26,734,000 | -87,376,000 | -20,180,000 |
provision for income taxes | 1,801,000 | 1,725,000 | 1,397,000 | 3,433,000 | 639,000 | 1,049,000 | 1,298,000 | 2,477,000 | 1,239,000 | 928,000 | 1,154,000 | 1,579,000 | 1,867,000 | 1,516,000 | 1,080,000 | 309,000 | ||
net profit | -7,806,000 | -11,633,000 | -13,886,000 | -4,084,000 | -9,699,000 | -9,509,000 | -11,630,000 | -3,265,000 | -20,925,000 | -16,894,000 | -17,951,000 | -11,828,000 | -25,869,000 | -33,028,000 | -33,264,000 | -27,891,000 | -86,853,000 | -20,489,000 |
other comprehensive profit, net of tax: | ||||||||||||||||||
other comprehensive profit | -188,000 | 1,247,000 | -1,157,000 | 13,000 | 424,000 | -169,000 | -203,000 | -384,500 | -570,000 | -20,000 | -948,000 | -743,250 | 121,000 | -3,669,000 | 575,000 | |||
comprehensive profit | -7,994,000 | -10,386,000 | -15,043,000 | -7,696,500 | -9,275,000 | -9,678,000 | -11,833,000 | -14,327,000 | -21,495,000 | -16,914,000 | -18,899,000 | -23,783,500 | -25,748,000 | -36,697,000 | -32,689,000 | |||
net profit per share attributable to class a and b ordinary shareholders, basic and diluted | -0.05 | -0.07 | -0.09 | -0.02 | -0.06 | -0.05 | -0.07 | -0.01 | -0.12 | -0.1 | -0.1 | -0.07 | -0.15 | -0.2 | -0.2 | |||
weighted-average shares used for eps calculation | 156,793,171 | 159,112,218 | 161,601,389 | 170,907,159 | 168,649,496 | 173,687,773 | 177,060,316 | 176,773,398 | 178,360,665 | 175,618,208 | 172,844,115 | 167,667,374 | 168,798,761 | 166,365,844 | 164,585,333 | 76,459,625 | 111,164,396 | 14,529,433 |
income tax expense | 100,250 | -523,000 | ||||||||||||||||
net profit per share attributable to ordinary shareholders, basic and diluted | -0.803 | -0.78 | -1.41 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||||||
current assets: | ||||||||||||||||||
cash and cash equivalents | 228,845,000 | 265,032,000 | 286,858,000 | 371,063,000 | 356,398,000 | 388,694,000 | 421,534,000 | 440,838,000 | 435,473,000 | 383,769,000 | 269,155,000 | 188,670,000 | 294,853,000 | 290,949,000 | 341,421,000 | 418,143,000 | 444,489,000 | 120,214,000 |
short-term deposits | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | 15,000,000 | 90,000,000 | 208,000,000 | 287,000,000 | 186,859,000 | 192,540,000 | 151,945,000 | 85,132,000 | 85,024,000 | 25,003,000 |
accounts receivable | 30,849,000 | 33,365,000 | 32,124,000 | 47,803,000 | 34,302,000 | 40,077,000 | 33,676,000 | 46,886,000 | 30,750,000 | 38,021,000 | 28,507,000 | 37,547,000 | 30,507,000 | 28,330,000 | 23,644,000 | 35,477,000 | 23,459,000 | 26,085,000 |
prepaid expenses and other current assets | 10,422,000 | 14,624,000 | 10,312,000 | 9,830,000 | 9,699,000 | 9,939,000 | 11,273,000 | 10,607,000 | 12,493,000 | 11,393,000 | 13,280,000 | 14,371,000 | 6,869,000 | 7,474,000 | 10,816,000 | 19,338,000 | 15,102,000 | 9,103,000 |
short-term investments | 91,305,000 | 69,093,000 | 65,216,000 | 28,357,000 | 28,508,000 | 28,676,000 | 28,968,000 | |||||||||||
total current assets | 366,421,000 | 387,114,000 | 399,510,000 | 433,696,000 | 433,756,000 | 472,218,000 | 500,159,000 | 532,299,000 | 493,716,000 | 525,509,000 | 521,268,000 | 529,935,000 | 521,666,000 | 523,462,000 | 534,981,000 | 565,074,000 | 572,660,000 | 184,869,000 |
property and equipment | 11,339,000 | 11,856,000 | 12,210,000 | 12,704,000 | 13,307,000 | 14,171,000 | 14,823,000 | 15,639,000 | 16,383,000 | 17,139,000 | 17,877,000 | 18,586,000 | 18,827,000 | 18,072,000 | 18,266,000 | 16,968,000 | 10,930,000 | 5,788,000 |
operating lease right-of-use assets | 22,251,000 | 23,285,000 | 24,304,000 | 25,310,000 | 26,301,000 | 27,408,000 | 28,612,000 | 29,742,000 | 30,854,000 | 32,948,000 | 34,064,000 | 35,158,000 | 36,212,000 | 37,397,000 | 38,404,000 | |||
deferred contract acquisition costs | 14,318,000 | 15,767,000 | 16,228,000 | 16,558,000 | 13,653,000 | 14,406,000 | 14,965,000 | 15,562,000 | 13,961,000 | 14,223,000 | 16,322,000 | 16,364,000 | 13,149,000 | 11,902,000 | 11,375,000 | 11,630,000 | 8,585,000 | 7,911,000 |
other assets, noncurrent | 7,368,000 | 7,466,000 | 7,511,000 | 7,593,000 | 7,821,000 | 8,202,000 | 8,431,000 | 8,690,000 | 8,695,000 | 8,674,000 | 8,889,000 | 8,922,000 | 8,940,000 | 8,226,000 | 7,676,000 | 6,962,000 | 6,355,000 | 12,361,000 |
total assets | 421,697,000 | 445,488,000 | 459,763,000 | 495,861,000 | 494,838,000 | 536,405,000 | 566,990,000 | 601,932,000 | 592,515,000 | 598,493,000 | 598,420,000 | 608,965,000 | 598,794,000 | 599,059,000 | 610,702,000 | 600,634,000 | 598,530,000 | 210,929,000 |
liabilities and shareholders’ equity | ||||||||||||||||||
current liabilities: | ||||||||||||||||||
accounts payable | 2,115,000 | 1,435,000 | 1,968,000 | 2,309,000 | 2,038,000 | 1,771,000 | 2,143,000 | 2,573,000 | 2,571,000 | 3,854,000 | 2,443,000 | 2,110,000 | 2,350,000 | 1,777,000 | 1,184,000 | 228,000 | 5,468,000 | 1,971,000 |
accrued compensation and benefits | 20,817,000 | 21,808,000 | 18,329,000 | 26,365,000 | 20,217,000 | 19,494,000 | 22,203,000 | 24,016,000 | 19,417,000 | 17,904,000 | 20,493,000 | 24,134,000 | 20,295,000 | 18,546,000 | 17,425,000 | 24,748,000 | 17,990,000 | 16,088,000 |
guarantee obligations | 8,583,000 | 8,478,000 | 8,494,000 | 13,061,000 | 11,739,000 | 9,840,000 | 9,163,000 | 12,719,000 | 9,489,000 | 9,892,000 | 9,931,000 | 12,361,000 | 9,767,000 | 9,770,000 | 9,134,000 | 12,112,000 | 8,454,000 | 9,911,000 |
provision for chargebacks | 7,415,000 | 7,843,000 | 9,478,000 | 9,434,000 | 8,809,000 | 11,065,000 | 9,735,000 | 12,092,000 | 10,698,000 | 11,027,000 | 6,933,000 | 11,980,000 | 10,711,000 | 9,634,000 | 9,306,000 | 12,020,000 | 8,195,000 | 6,987,000 |
operating lease liabilities, current | 5,940,000 | 5,863,000 | 5,542,000 | 5,590,000 | 5,519,000 | 5,436,000 | 5,464,000 | 5,615,000 | 5,493,000 | 6,606,000 | 6,625,000 | 6,214,000 | 6,488,000 | 4,151,000 | 4,372,000 | |||
accrued expenses and other current liabilities | 15,768,000 | 16,562,000 | 13,611,000 | 13,780,000 | 12,503,000 | 13,506,000 | 11,495,000 | 12,796,000 | 17,630,000 | 15,681,000 | 17,123,000 | 15,813,000 | 18,871,000 | 16,871,000 | 12,803,000 | 13,306,000 | 14,995,000 | 13,615,000 |
total current liabilities | 60,638,000 | 61,989,000 | 57,422,000 | 70,539,000 | 60,825,000 | 61,112,000 | 60,203,000 | 69,811,000 | 65,298,000 | 64,964,000 | 63,548,000 | 72,612,000 | 68,482,000 | 60,749,000 | 54,224,000 | 62,414,000 | 55,102,000 | 48,572,000 |
operating lease liabilities, noncurrent | 19,735,000 | 20,691,000 | 20,561,000 | 21,940,000 | 22,810,000 | 23,034,000 | 24,403,000 | 25,694,000 | 25,919,000 | 28,275,000 | 29,542,000 | 31,202,000 | 32,390,000 | 33,624,000 | 36,813,000 | |||
other liabilities, noncurrent | 25,028,000 | 24,383,000 | 22,454,000 | 21,078,000 | 17,655,000 | 17,026,000 | 15,990,000 | 14,706,000 | 12,425,000 | 10,928,000 | 9,866,000 | 8,734,000 | 7,535,000 | 5,567,000 | 3,880,000 | 9,359,000 | 7,584,000 | 53,961,000 |
total liabilities | 105,401,000 | 107,063,000 | 100,437,000 | 113,557,000 | 101,290,000 | 101,172,000 | 100,596,000 | 110,211,000 | 103,642,000 | 104,167,000 | 102,956,000 | 112,548,000 | 108,407,000 | 99,940,000 | 94,917,000 | 71,773,000 | 62,686,000 | 102,533,000 |
shareholders’ equity: | ||||||||||||||||||
class a ordinary shares, no par value; 900,000,000 shares authorized as of september 30, 2025 and december 31, 2024; 108,377,243 and 112,306,279 shares issued and outstanding as of september 30, 2025 and december 31, 2024, respectively | ||||||||||||||||||
class b ordinary shares, no par value; 232,500,000 shares authorized as of september 30, 2025 and december 31, 2024; 45,413,468 and 48,902,840 shares issued and outstanding as of september 30, 2025 and december 31, 2024, respectively | ||||||||||||||||||
treasury shares at cost, 44,242,801 and 30,049,351 ordinary shares as of september 30, 2025 and december 31, 2024, respectively | -223,427,000 | |||||||||||||||||
additional paid-in capital | 1,018,750,000 | 1,007,632,000 | 994,882,000 | 982,131,000 | 965,428,000 | 950,823,000 | 933,306,000 | 916,371,000 | 900,354,000 | 884,312,000 | 866,555,000 | 848,609,000 | 831,909,000 | 814,893,000 | 794,862,000 | 775,249,000 | 754,517,000 | 30,129,000 |
accumulated other comprehensive profit | 789,000 | 977,000 | -270,000 | 887,000 | 126,000 | -298,000 | -129,000 | 74,000 | -3,177,000 | -2,607,000 | -2,587,000 | -1,639,000 | -2,797,000 | -2,918,000 | 751,000 | 176,000 | ||
accumulated deficit | -479,816,000 | -472,010,000 | -460,377,000 | -446,491,000 | -442,407,000 | -432,708,000 | -423,199,000 | -411,569,000 | -408,304,000 | -387,379,000 | -368,504,000 | -350,553,000 | -338,725,000 | -312,856,000 | -279,828,000 | -246,564,000 | -218,673,000 | -131,820,000 |
total shareholders’ equity | 316,296,000 | 338,425,000 | 359,326,000 | 382,304,000 | 393,548,000 | 435,233,000 | 466,394,000 | 491,721,000 | 488,873,000 | 494,326,000 | 495,464,000 | 496,417,000 | 490,387,000 | 499,119,000 | 515,785,000 | 528,861,000 | 535,844,000 | |
total liabilities and shareholders’ equity | 421,697,000 | 445,488,000 | 459,763,000 | 495,861,000 | 494,838,000 | 536,405,000 | 566,990,000 | 601,932,000 | 592,515,000 | 598,493,000 | 598,420,000 | 608,965,000 | ||||||
class a ordinary shares, no par value; 900,000,000 shares authorized as of june 30, 2025 and december 31, 2024; 110,424,051 and 112,306,279 shares issued and outstanding as of june 30, 2025 and december 31, 2024, respectively | ||||||||||||||||||
class b ordinary shares, no par value; 232,500,000 shares authorized as of june 30, 2025 and december 31, 2024; 46,413,468 and 48,902,840 shares issued and outstanding as of june 30, 2025 and december 31, 2024, respectively | ||||||||||||||||||
treasury shares at cost, 39,065,223 and 30,049,351 ordinary shares as of june 30, 2025 and december 31, 2024, respectively | -198,174,000 | |||||||||||||||||
class a ordinary shares, no par value; 900,000,000 shares authorized as of march 31, 2025 and december 31, 2024; 111,563,431 and 112,306,279 shares issued and outstanding as of march 31, 2025 and december 31, 2024, respectively | ||||||||||||||||||
class b ordinary shares, no par value; 232,500,000 shares authorized as of march 31, 2025 and december 31, 2024; 47,402,840 and 48,902,840 shares issued and outstanding as of march 31, 2025 and december 31, 2024, respectively | ||||||||||||||||||
treasury shares at cost, 34,193,495 and 30,049,351 ordinary shares as of march 31, 2025 and december 31, 2024, respectively | -174,909,000 | |||||||||||||||||
commitments and contingencies | ||||||||||||||||||
class a ordinary shares, no par value; 900,000,000 shares authorized as of december 31, 2024 and 2023; 112,306,279 and 128,738,857 shares issued and outstanding as of december 31, 2024 and 2023, respectively | ||||||||||||||||||
class b ordinary shares, no par value; 232,500,000 shares authorized as of december 31, 2024 and 2023; 48,902,840 and 49,814,864 shares issued and outstanding as of december 31, 2024 and 2023, respectively | ||||||||||||||||||
treasury shares at cost, 30,049,351 and 3,038,865 ordinary shares as of december 31, 2024 and 2023, respectively | -154,223,000 | |||||||||||||||||
class a ordinary shares, no par value; 900,000,000 shares authorized as of september 30, 2024 and december 31, 2023; 115,152,748 and 128,738,857 shares issued and outstanding as of september 30, 2024 and december 31, 2023, respectively | ||||||||||||||||||
class b ordinary shares, no par value; 232,500,000 shares authorized as of september 30, 2024 and december 31, 2023; 48,902,840 and 49,814,864 shares issued and outstanding as of september 30, 2024 and december 31, 2023, respectively | ||||||||||||||||||
treasury shares at cost, 24,847,213 and 3,038,865 ordinary shares as of september 30, 2024 and december 31, 2023, respectively | -129,599,000 | |||||||||||||||||
class a ordinary shares, no par value; 900,000,000 shares authorized as of june 30, 2024 and december 31, 2023; 121,637,527 and 128,738,857 shares issued and outstanding as of june 30, 2024 and december 31, 2023, respectively | ||||||||||||||||||
class b ordinary shares, no par value; 232,500,000 shares authorized as of june 30, 2024 and december 31, 2023; 48,902,840 and 49,814,864 shares issued and outstanding as of june 30, 2024 and december 31, 2023, respectively | ||||||||||||||||||
treasury shares at cost, 16,238,464 and 3,038,865 ordinary shares as of june 30, 2024 and december 31, 2023, respectively | -82,584,000 | |||||||||||||||||
class a ordinary shares, no par value; 900,000,000 shares authorized as of march 31, 2024 and december 31, 2023; 125,409,688 and 128,738,857 shares issued and outstanding as of march 31, 2024 and december 31, 2023, respectively | ||||||||||||||||||
class b ordinary shares, no par value; 232,500,000 shares authorized as of march 31, 2024 and december 31, 2023; 48,902,840 and 49,814,864 shares issued and outstanding as of march 31, 2024 and december 31, 2023, respectively | ||||||||||||||||||
treasury shares at cost, 9,452,508 and 3,038,865 ordinary shares as of march 31, 2024 and december 31, 2023, respectively | -43,584,000 | |||||||||||||||||
restricted cash | 2,326,000 | 2,326,000 | 2,347,000 | 2,578,000 | 4,169,000 | 7,155,000 | 6,984,000 | 4,586,000 | 4,464,000 | |||||||||
class a ordinary shares, no par value; 900,000,000 shares authorized as of december 31, 2023 and 2022; 128,738,857 and 102,084,746 shares issued and outstanding as of december 31, 2023 and 2022, respectively | ||||||||||||||||||
class b ordinary shares, no par value; 232,500,000 shares authorized as of december 31, 2023 and 2022; 49,814,864 and 68,945,014 shares issued and outstanding as of december 31, 2023 and 2022, respectively | ||||||||||||||||||
treasury shares at cost, 3,038,865 and zero ordinary shares as of december 31, 2023 and 2022, respectively | -13,155,000 | |||||||||||||||||
long-term investments | 28,906,000 | |||||||||||||||||
class a ordinary shares, no par value; 900,000,000 shares authorized as of september 30, 2023 and december 31, 2022; 122,263,782 and 102,084,746 shares issued and outstanding as of september 30, 2023 and december 31, 2022, respectively | ||||||||||||||||||
class b ordinary shares, no par value; 232,500,000 shares authorized as of september 30, 2023 and december 31, 2022; 56,010,858 and 68,945,014 shares issued and outstanding as of september 30, 2023 and december 31, 2022, respectively | ||||||||||||||||||
class a ordinary shares, no par value; 900,000,000 shares authorized as of june 30, 2023 and december 31, 2022; 115,157,270 and 102,084,746 shares issued and outstanding as of june 30, 2023 and december 31, 2022, respectively | ||||||||||||||||||
class b ordinary shares, no par value; 232,500,000 shares authorized as of june 30, 2023 and december 31, 2022; 60,945,014 and 68,945,014 shares issued and outstanding as of june 30, 2023 and december 31, 2022, respectively | ||||||||||||||||||
class a ordinary shares, no par value; 900,000,000 shares authorized as of march 31, 2023 and december 31, 2022; 104,163,785 and 102,084,746 shares issued and outstanding as of march 31, 2023 and december 31, 2022, respectively | ||||||||||||||||||
class b ordinary shares, no par value; 232,500,000 shares authorized as of march 31, 2023 and december 31, 2022; 68,945,014 shares issued and outstanding as of march 31, 2023 and december 31, 2022, respectively | ||||||||||||||||||
class a ordinary shares, no par value; 900,000,000 shares authorized as of december 31, 2022 and 2021; 102,084,746 and 75,909,531 shares issued and outstanding as of december 31, 2022 and 2021, respectively | ||||||||||||||||||
class b ordinary shares, no par value; 232,500,000 shares authorized as of december 31, 2022 and 2021; 68,945,014 and 88,055,520 shares issued and outstanding as of december 31, 2022 and 2021, respectively | ||||||||||||||||||
liabilities, convertible preferred shares, and shareholders’ equity | ||||||||||||||||||
class a ordinary shares, no par value; 900,000,000 shares authorized as of september 30, 2022 and december 31, 2021; 94,981,604 and 75,909,531 shares issued and outstanding as of september 30, 2022 and december 31, 2021, respectively | ||||||||||||||||||
class b ordinary shares, no par value; 232,500,000 shares authorized as of september 30, 2022 and december 31, 2021; 74,284,784 and 88,055,520 shares issued and outstanding as of september 30, 2022 and december 31, 2021, respectively | ||||||||||||||||||
total liabilities, convertible preferred shares, and shareholders’ equity | 598,794,000 | 599,059,000 | 610,702,000 | 600,634,000 | 598,530,000 | |||||||||||||
class a ordinary shares, no par value; 900,000,000 shares authorized as of june 30, 2022 and december 31, 2021; 92,852,989 and 75,909,531 shares issued and outstanding as of june 30, 2022 and december 31, 2021, respectively | ||||||||||||||||||
class b ordinary shares, no par value; 232,500,000 shares authorized as of june 30, 2022 and december 31, 2021; 74,284,784 and 88,055,520 shares issued and outstanding as of june 30, 2022 and december 31, 2021, respectively | ||||||||||||||||||
class a ordinary shares, no par value; 900,000,000 shares authorized as of march 31, 2022 and december 31, 2021; 90,775,880 and 75,909,531 shares issued and outstanding as of march 31, 2022 and december 31, 2021, respectively | ||||||||||||||||||
class b ordinary shares, no par value; 232,500,000 shares authorized as of march 31, 2022 and december 31, 2021; 74,284,784 and 88,055,520 shares issued and outstanding as of march 31, 2022 and december 31, 2021, respectively | ||||||||||||||||||
convertible preferred shares, no par value and nis 0.0008 par value per share as of december 31, 2021 and 2020, respectively; zero and 33,295,097 shares authorized as of december 31, 2021 and 2020, respectively; zero and 29,878,116 shares issued and outstanding as of december 31, 2021 and 2020, respectively; aggregate liquidation preference of zero and 165,558 as of december 31, 2021 and 2020, respectively | ||||||||||||||||||
shareholders’ equity | ||||||||||||||||||
class a ordinary shares, no par value and nis 0.0008 par value per share as of december 31, 2021 and 2020, respectively; 900,000,000 and 91,704,900 shares authorized as of december 31, 2021 and 2020, respectively; 75,909,531 and 14,310,552 shares issued and outstanding as of december 31, 2021 and 2020, respectively | ||||||||||||||||||
class b ordinary shares, no par value; 232,500,000 and zero shares authorized as of december 31, 2021 and 2020, respectively; 88,055,520 and zero shares issued and outstanding as of december 31, 2021 and 2020, respectively | ||||||||||||||||||
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 | ||||||||||||||||||
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 | ||||||||||||||||||
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 | ||||||||||||||||||
liabilities, convertible preferred shares, and shareholders’ deficit | ||||||||||||||||||
convertible preferred shares, nis 0.0008 par value per share, 33,295,097 shares authorized as of june 30, 2021 (unaudited) and december 31, 2020; 31,328,530 and 29,878,116 shares issued and outstanding as of june 30, 2021 (unaudited) and december 31, 2020, respectively; aggregate liquidation preference of 193,145 and 165,558 as of june 30, 2021 (unaudited) and december 31, 2020, respectively | 210,083,000 | |||||||||||||||||
shareholders’ deficit: | ||||||||||||||||||
ordinary shares, nis 0.0008 par value per share, 91,704,900 shares authorized as of june 30, 2021 (unaudited) and december 31, 2020; 14,608,102 and 14,310,552 shares issued and outstanding as of june 30, 2021 (unaudited) and december 31, 2020, respectively | 4,000 | |||||||||||||||||
total shareholders’ deficit | -101,687,000 | |||||||||||||||||
total liabilities, convertible preferred shares, and shareholders’ deficit | 210,929,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | |||||||||||||||||
net profit | 3,827,000 | 2,253,000 | -13,886,000 | -25,223,000 | -190,000 | 2,121,000 | -11,630,000 | -38,110,000 | -4,031,000 | 1,057,000 | -17,951,000 | -78,120,000 | 7,159,000 | 236,000 | -33,264,000 | -27,891,000 | -86,853,000 |
adjustments to reconcile net profit to net cash from operating activities: | |||||||||||||||||
unrealized loss on foreign currency | -1,073,000 | 2,766,000 | -1,025,000 | 599,000 | 220,000 | -419,000 | -12,000 | -874,000 | 546,000 | 364,000 | -886,000 | -3,379,000 | 2,024,000 | -1,345,000 | -175,000 | 407,000 | -42,000 |
provision for account receivable allowances | 296,000 | -237,000 | 266,000 | 229,000 | 243,000 | -57,000 | 211,000 | 216,000 | -72,000 | -86,000 | 140,000 | -207,000 | 283,000 | 29,000 | -102,000 | -5,000 | 195,000 |
depreciation and amortization | -13,000 | -40,000 | 654,000 | 2,543,000 | -66,000 | -10,000 | 882,000 | 2,676,000 | 12,000 | -20,000 | 900,000 | 2,597,000 | 61,000 | -30,000 | 979,000 | 649,000 | 655,000 |
amortization of capitalized internal-use software costs | 0 | -41,000 | 302,000 | 1,149,000 | 0 | 0 | 383,000 | 1,149,000 | 0 | 0 | 383,000 | ||||||
amortization of deferred contract costs | -483,000 | 484,000 | 2,807,000 | 8,045,000 | 98,000 | -66,000 | 2,707,000 | 7,174,000 | -121,000 | 467,000 | 2,047,000 | 4,777,000 | 150,000 | 90,000 | 1,402,000 | 1,277,000 | 1,107,000 |
impairment of deferred contract costs | 0 | ||||||||||||||||
share-based compensation expense | 86,000 | -1,457,000 | 14,316,000 | 43,926,000 | -1,130,000 | -487,000 | 15,522,000 | 47,080,000 | -469,000 | -557,000 | 16,356,000 | 51,756,000 | -2,425,000 | -251,000 | 18,387,000 | 19,726,000 | 8,506,000 |
non-cash right-of-use asset changes | 15,000 | 13,000 | 1,006,000 | 3,325,000 | -97,000 | 74,000 | 1,130,000 | 3,322,000 | 167,000 | 5,000 | 1,111,000 | ||||||
changes in accrued interest | 2,137,000 | -537,000 | -60,000 | 1,827,000 | -1,788,000 | 1,690,000 | -373,000 | ||||||||||
ordinary share warrants issued to a customer | 3,301,000 | 0 | 1,000 | 383,000 | 1,152,000 | 0 | 0 | 384,000 | 1,151,000 | 1,000 | |||||||
other | 57,000 | -51,000 | 82,000 | 216,000 | 131,000 | -35,000 | 86,000 | 113,000 | 10,000 | 1,000 | 37,000 | 151,000 | -73,000 | -16,000 | 118,000 | 232,000 | 392,000 |
changes in operating assets and liabilities: | |||||||||||||||||
accounts receivable | 3,286,000 | -17,013,000 | 15,769,000 | -7,318,000 | 12,030,000 | -19,430,000 | 12,869,000 | -16,700,000 | 16,607,000 | -18,357,000 | 8,765,000 | 775,000 | 2,176,000 | -16,682,000 | 12,016,000 | -11,917,000 | 2,336,000 |
deferred contract acquisition costs | 1,504,000 | -322,000 | -1,895,000 | -8,175,000 | -813,000 | 38,000 | -1,585,000 | -7,231,000 | 286,000 | -365,000 | -1,583,000 | -7,197,000 | -835,000 | -852,000 | -823,000 | -4,037,000 | -1,462,000 |
prepaid expenses and other assets | 2,942,000 | -144,000 | -1,665,000 | -2,726,000 | 457,000 | 467,000 | -894,000 | 1,491,000 | -3,630,000 | -170,000 | 691,000 | 3,907,000 | -1,847,000 | -3,003,000 | 4,969,000 | -4,151,000 | -4,376,000 |
accounts payable | 1,235,000 | -263,000 | -299,000 | -496,000 | 679,000 | -54,000 | -332,000 | 1,699,000 | -2,720,000 | 1,060,000 | 334,000 | 1,387,000 | -54,000 | -411,000 | 1,009,000 | -2,017,000 | 573,000 |
accrued compensation and benefits | -3,901,000 | 10,607,000 | -7,846,000 | 1,955,000 | 3,170,000 | -1,023,000 | -1,561,000 | -1,966,000 | 4,332,000 | 929,000 | -3,494,000 | -1,472,000 | -113,000 | 9,337,000 | -7,461,000 | 6,157,000 | 1,907,000 |
guarantee obligations | 121,000 | 4,551,000 | -4,567,000 | -1,557,000 | 1,222,000 | 4,233,000 | -3,556,000 | 761,000 | -364,000 | 2,391,000 | -2,430,000 | 3,614,000 | -2,978,000 | 3,658,000 | -1,457,000 | ||
provision for chargebacks | 1,207,000 | -1,679,000 | 44,000 | -402,000 | -3,586,000 | 3,687,000 | -2,357,000 | 441,000 | -4,423,000 | 9,141,000 | -5,047,000 | -1,117,000 | 749,000 | 3,042,000 | -2,714,000 | 3,825,000 | 1,208,000 |
operating lease liabilities | -82,000 | -4,000 | -1,117,000 | -3,287,000 | 668,000 | 146,000 | -1,175,000 | -2,492,000 | -1,302,000 | -166,000 | -620,000 | -3,994,000 | 2,480,000 | 180,000 | -1,275,000 | ||
accrued expenses and other liabilities | -3,248,000 | 2,862,000 | 958,000 | 7,753,000 | -2,773,000 | 2,795,000 | -37,000 | 1,506,000 | 4,123,000 | -1,956,000 | 1,453,000 | 5,840,000 | 292,000 | 779,000 | 1,799,000 | 66,000 | 1,364,000 |
net cash from operating activities | 7,913,000 | 1,748,000 | 3,844,000 | 25,684,000 | 9,680,000 | -6,329,000 | 10,661,000 | 2,786,000 | 9,359,000 | -5,095,000 | 229,000 | -23,470,000 | 9,564,000 | -5,320,000 | -7,026,000 | -14,021,000 | -11,546,000 |
capital expenditures | 132,000 | -44,000 | -208,000 | -532,000 | 119,000 | -46,000 | -178,000 | -529,000 | -765,000 | 126,000 | -7,015,000 | -18,000 | 1,993,000 | -2,972,000 | -8,559,000 | -3,361,000 | |
free cash flows | 8,045,000 | 1,704,000 | 3,636,000 | 25,152,000 | 9,799,000 | -6,375,000 | 10,483,000 | 2,257,000 | 8,594,000 | -4,969,000 | -30,485,000 | 9,546,000 | -3,327,000 | -9,998,000 | -22,580,000 | -14,907,000 | |
cash flows from investing activities: | |||||||||||||||||
purchases of investments | -84,098,000 | 64,299,000 | -78,157,000 | 0 | |||||||||||||
maturities of investments | 66,033,000 | -3,018,000 | 12,495,000 | ||||||||||||||
purchases of property and equipment | 132,000 | -44,000 | -208,000 | -532,000 | 119,000 | -46,000 | -178,000 | -529,000 | -765,000 | 126,000 | -187,000 | -5,692,000 | 0 | 2,111,000 | -2,545,000 | -8,037,000 | -3,123,000 |
proceeds from sale of fixed assets | -2,000 | -4,000 | 16,000 | 8,000 | |||||||||||||
net cash from investing activities | -17,935,000 | 61,233,000 | -65,854,000 | 27,776,000 | 202,000 | -46,000 | -178,000 | 206,471,000 | -72,851,000 | 39,126,000 | 78,813,000 | -215,015,000 | 46,193,000 | 28,324,000 | -69,514,000 | -8,481,000 | -63,382,000 |
cash flows from financing activities: | |||||||||||||||||
proceeds from exercise of share options | -1,577,000 | 1,588,000 | 632,000 | 3,928,000 | -1,782,000 | 1,068,000 | 1,030,000 | 3,508,000 | -1,241,000 | 368,000 | 1,206,000 | 3,231,000 | -598,000 | 671,000 | 755,000 | 481,000 | 1,908,000 |
taxes paid related to net share settlement of equity awards | -200,000 | -14,000 | -2,256,000 | ||||||||||||||
purchases of treasury shares | -1,988,000 | -2,579,000 | -20,686,000 | -94,053,000 | -8,015,000 | -8,571,000 | -30,429,000 | ||||||||||
net cash from financing activities | -3,765,000 | -1,005,000 | -22,310,000 | -90,125,000 | -9,797,000 | -7,503,000 | -29,399,000 | -9,647,000 | -1,241,000 | 368,000 | 1,206,000 | 3,041,000 | -612,000 | 861,000 | 565,000 | -1,446,000 | 399,325,000 |
effects of exchange rates on cash and cash equivalents | -574,000 | 403,000 | 115,000 | ||||||||||||||
net increase in cash and cash equivalents | -14,361,000 | 62,379,000 | -84,205,000 | ||||||||||||||
cash and cash equivalents—beginning of period | -21,826,000 | -84,205,000 | 371,063,000 | ||||||||||||||
cash and cash equivalents—end of period | -36,187,000 | -21,826,000 | 286,858,000 | ||||||||||||||
purchases of short-term deposits | -50,000,000 | -50,000,000 | -319,961,000 | -103,578,000 | 111,542,000 | -151,753,000 | 0 | -85,000,000 | |||||||||
maturities of short-term deposits | 257,000,000 | -38,000,000 | -11,000,000 | 129,000,000 | 111,961,000 | 85,211,000 | 78,000 | 24,979,000 | |||||||||
capitalized software development costs | -1,323,000 | -18,000 | -118,000 | -427,000 | -522,000 | -238,000 | |||||||||||
payments of deferred offering costs | -190,000 | -190,000 | -1,927,000 | -1,345,000 | |||||||||||||
effects of exchange rates on cash, cash equivalents, and restricted cash | -814,000 | 459,000 | 342,000 | -388,000 | 833,000 | -503,000 | -249,000 | 216,000 | -979,000 | 626,000 | -772,000 | -576,000 | |||||
net increase in cash, cash equivalents, and restricted cash | -37,479,000 | 544,000 | -13,536,000 | -19,304,000 | 200,443,000 | -65,236,000 | 34,150,000 | 80,464,000 | -237,145,000 | 55,145,000 | 23,865,000 | -75,975,000 | -23,948,000 | 324,397,000 | |||
cash, cash equivalents, and restricted cash—beginning of period | 52,144,000 | -32,840,000 | -19,304,000 | 440,838,000 | -195,078,000 | 114,614,000 | 80,464,000 | 191,017,000 | 130,009,000 | -53,458,000 | -76,551,000 | 425,127,000 | 0 | 0 | |||
cash, cash equivalents, and restricted cash—end of period | 14,665,000 | -32,296,000 | -32,840,000 | 421,534,000 | 5,365,000 | 49,378,000 | 114,614,000 | 271,481,000 | -106,414,000 | 2,313,000 | -53,458,000 | 348,576,000 | -23,948,000 | 324,397,000 | |||
supplemental disclosures of cash flow information: | |||||||||||||||||
cash paid for income taxes | |||||||||||||||||
cash paid for operating leases, net of incentives received | |||||||||||||||||
operating lease liabilities arising from obtaining right-of-use assets | |||||||||||||||||
adjustment to rou assets upon modification of existing lease | |||||||||||||||||
supplemental disclosures of noncash investing and financing activities: | |||||||||||||||||
purchases of property and equipment during the period included in accounts payable and accrued expenses | |||||||||||||||||
share-based compensation capitalized for software development | |||||||||||||||||
reconciliation of cash, cash equivalents, and restricted cash within the consolidated balance sheets to the amounts shown in the consolidated statements of cash flows above: | |||||||||||||||||
cash and cash equivalents | |||||||||||||||||
restricted cash | |||||||||||||||||
total cash, cash equivalents, and restricted cash | |||||||||||||||||
remeasurement of convertible preferred share warrant liabilities | 0 | 64,401,000 | |||||||||||||||
remeasurement of convertible preferred share tranche rights | 0 | 0 | |||||||||||||||
changes in accrued interest on investments | |||||||||||||||||
proceeds from issuance of convertible preferred shares and warrants, net of issuance costs | |||||||||||||||||
proceeds from cash exercise of series e-1 convertible preferred share warrants | |||||||||||||||||
proceeds from initial public offering, net of underwriting discounts and commissions | 0 | ||||||||||||||||
cash paid for interest | |||||||||||||||||
software development costs, accrued but not paid | |||||||||||||||||
deferred offering costs accrued but not paid | |||||||||||||||||
settlement of convertible preferred share tranche rights | |||||||||||||||||
conversion of convertible preferred shares into class a ordinary shares upon ipo | |||||||||||||||||
reclassification of convertible preferred share warrants upon ipo | |||||||||||||||||
elimination of par value upon recapitalization | |||||||||||||||||
changes in accrued interest on deposits | 1,167,000 | -361,000 | |||||||||||||||
non-cash operating lease right-of-use asset changes | 110,000 | -36,000 | 1,087,000 | ||||||||||||||
changes in accrued interest on short-term deposits | 65,000 | ||||||||||||||||
proceeds from cash exercise of series e-1 warrants | 0 | ||||||||||||||||
proceeds from issuance of series e convertible preferred shares, net of issuance costs | 0 |

