RISKIFIED LTD. financial statements

Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data RISKIFIED LTD. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	131	170	229	261	298	328	345
Cost of revenue	64.9	76.9	106	126	145	157	167
Gross profit	65.7	92.8	123	135	153	171	178
Research and development	25	36.6	55.3	72	71.6	68.1	69.4
Selling and marketing	36.6	41.1	70.7	88.4	88.4	86.4	83.1
General and administrative	17.9	21.9	52.9	84	69.4	64.3	59.6
Operating expenses	79.6	99.6	179	244	229	219	212
Operating income	-13.9	-6.81	-55.9	-109	-76.8	-47.9	-34
Other non-operating income	0.12	-3.61	-123	0.51	0.84	-0.82	-0.64
Pre-tax income	-13.7	-10.3	-178	-98.7	-53.2	-28.5	-21.2
Income tax	0.48	1.08	1.56	6.04	5.8	6.42	6.36
Net income	-14.2	-11.3	-179	-105	-59	-34.9	-27.6
EBITDA	-13.2	-5.45	-54	-106	-73.3	-44.5	-31.6
EPS, basic				0.62
EPS, diluted				0.62
Shares, basic (weighted)			76.5	168	177	171	157
Shares, diluted (weighted)			76.5	168	177	171	157

Balance sheet

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	69.7	104	418	189	441	371	162
Short-term investments				0	29	0	130
Receivables		37.2	35.5	37.5	46.9	47.8	48.5
Other current assets		5.64	19.3	14.4	10.6	9.83	9.83
Total current assets		163	565	530	532	434	356
Property, plant and equipment		4.64	17	18.6	15.6	12.7	11
Lease right-of-use assets			0	35.2	29.7	25.3	21.2
Other non-current assets		5.44	6.96	8.92	8.69	7.59	6.95
Total assets		181	601	607	602	496	411
Accounts payable		1.51	0.23	2.11	2.57	2.31	1.91
Accrued liabilities		3.08	7.56	6.18	4.55	6.35	6.19
Total current liabilities		51.9	62.4	72.6	69.8	70.5	70.7
Lease liabilities			0	31.2	25.7	21.9	18.9
Other non-current liabilities		12.4	9.36	8.73	14.7	21.1	26.1
Total liabilities		64.3	71.8	113	110	114	116
Paid-in capital		24.4	775	849	916	982	1,029
Retained earnings		-67.7	-248	-353	-412	-446	-474
Treasury stock				0	-13.2	-154	-260
Other comprehensive income		0	0.18	-1.64	0.07	0.89	-0.06
Shareholders' equity	-40.6	-44	528	494	492	382	295
Total equity	-40.6	-44	528	494	492	382	295
Total liabilities and equity		181	601	607	602	496	411

Cash flow statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-14.2	-11.3	-179	-105	-59	-34.9	-27.6
Depreciation and amortization	0.72	1.36	1.99	3.61	3.57	3.35	2.46
Stock-based compensation	11.2	7.95	33.4	67.5	62.4	57.8	51.6
Deferred income tax	0.22	1.04	1.43	-2.68	-0.02	0.2	-0.04
Change in receivables	-3.28	-12.6	1.44	-1.72	-9.69	-1.85	-1.36
Change in payables	2.68	-3.71	-0.83	1.93	0.37	-0.2	-0.38
Cash from operations	3.84	-3.12	-20.3	-26.3	7.28	39.7	33.9
Capital expenditures	-2.11	-1.51	-12.3	-6.13	-1.36	-0.64	-0.81
Purchases of investments	0	-14	0	0	-29.1	0	-248
Sales and maturities of investments				0	0	28.3	116
Cash from investing	-2.15	-17	-84.4	-210	252	27.8	-133
Stock issued	0.24	0.64	2.95	4.06	3.84	4.24	5.07
Share buybacks			0	0	-13.2	-141	-106
Cash from financing	45.8	54	423	3.86	-9.31	-137	-111
Exchange rate effect		0	0	-1.7	0.3	-0.4	0.72
Net change in cash	47.5	33.9	318	-234	250	-69.8	-209
Free cash flow	1.73	-4.63	-32.5	-32.4	5.92	39.1	33.1
Interest paid	0.02	0	0	0	0
Income taxes paid	0	1.18	0.65	0.02	0	0.04	0.21

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $7.78 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	51.7%	Gross profit / revenue.
Operating margin	-9.9%	Operating income / revenue.
EBITDA margin	-9.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-6.2%	Pre-tax income / revenue.
Net margin	-8.0%	Net income / revenue.
FCF margin	9.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	9.8%	Cash from operations / revenue.
Return on equity (ROE)	-8.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-6.1%	Net income / average total assets.
Return on invested capital (ROIC)	-37.4%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	20.1%	Research and development expense / revenue.
Stock-based pay / revenue	15.0%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.2%	Capital expenditures / revenue.
D&A / revenue	0.7%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	5.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	9.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	15.2%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	4.2%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	9.6%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	13.9%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-14.7%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y	-15.3%	Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y	-22.9%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-15.8%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y	-17.2%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-12.2%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	17.9%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-7.9%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-2.1%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	5.03x	Current assets / current liabilities.
Quick ratio	4.82x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	4.14x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	28.2%	Total liabilities / total assets.
Working capital	$285.1M	Current assets - current liabilities.
Tangible book value	$294.8M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.76x	Revenue / average total assets.
Fixed asset turnover	29.1x	Revenue / average property, plant and equipment.
Receivables turnover	7.16x	Revenue / average receivables.
Days sales outstanding	51 days	365 x average receivables / revenue.
Days payables	5 days	365 x average accounts payable / cost of revenue.
Capex / operating cash flow	2.4%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
Revenue per share	$2.19	Revenue / diluted weighted shares.
FCF per share	$0.21	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.22	Cash from operations / diluted weighted shares.
Book value per share	$1.87	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$1.87	Tangible book value / shares outstanding.
Cash per share	$1.86	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	321.2%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$1.15B	Share price x shares outstanding.
Enterprise value	$860.5M	Market cap + total debt - cash - short-term investments.
P/S	3.35x	Market cap / revenue.
P/B	3.91x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	3.91x	Market cap / tangible book value, when positive.
P/FCF	34.9x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	34.0x	Market cap / cash from operations, when positive.
EV/Sales	2.50x	Enterprise value / revenue.
EV/FCF	26.0x	Enterprise value / free cash flow, when both are positive.
FCF yield	2.9%	Free cash flow / market cap.
Earnings yield	-2.4%	Net income / market cap (the inverse of P/E).
Shareholder yield	9.2%	(Dividends paid + share buybacks) / market cap.

What was RISKIFIED LTD.'s revenue in fiscal 2025?

RISKIFIED LTD. reported revenue of $344.6M for fiscal 2025, 5.2% higher than the year before.

Was RISKIFIED LTD. profitable in fiscal 2025?

No. It reported a net loss of $27.6M.

How much free cash flow did RISKIFIED LTD. generate in fiscal 2025?

Cash from operations of $33.9M minus capital expenditures of $810.0K left free cash flow of $33.1M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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