Riskified Ltd. · NYSE:RSKD
Riskified — Q3 2021 Earnings Presentation
16 slides from Riskified's earnings presentation, Nov 16, 2021
Slide 1: Q3 2021 Financial Results Supplemental Slides
Q3 2021 Financial Results Supplemental Slides November 16, 2021
Slide 2: Forward-Looking Statements
Forward-Looking Statements Certain statements in this presentation release may constitute “forward-looking” statements and information, within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the safe harbor provisions of the U.S. Priv
Slide 3: Key Performance Indicators and Non-GAAP Metrics
Key Performance Indicators and Non-GAAP Metrics This presentation contains key performance indicators including GMV, as well as non-GAAP metrics, including Adjusted EBITDA and non-GAAP operating expenses. We define GMV as the gross total dollar value of orders received by our merchants and reviewed t
Slide 4: Riskified Mission
Riskified Mission Increased sales approval rates To empower by up to 20%1 businesses to realize the full potential of Reduced costs by up to 60%1 eCommerce by making it safe, Eliminate significant customer accessible and friction, power omnichannel frictionless. commerce and open new, global markets 1
Slide 5: We Operate in Massive Markets With Strong Tailwinds
We Operate in Massive ~$6.4 trillion global Markets With Strong eCommerce GMV in 20241 Tailwinds Solving Problems That Touch All eCommerce Orders $4.3 trillion global eCommerce GMV in 20201 Online merchants with more than $75 million in annual online sales make up 85% of eCommerce sales made directl
Slide 6: Riskified Enables Frictionless eCommerce
Riskified Enables Frictionless eCommerce Before Riskified: With Riskified: 3rd Party Data Merchant.com Homegrown Tools & Reporting Registered Guest Merchant.com Successful Sale Customers Customers Require Is This The Authenticated Additional Customer That I Log On Credentials? Think It Is? Successful S
Slide 7: We Increase Merchants' Revenue & Decrease Costs
We Increase Merchants’ Revenue & Decrease Costs Average of Ten 39% Largest Merchants 8% in Sample1 Company A 67% < $5.0 billion 14% Company B 51% < $5.0 billion 32% Company C 65% $5.0 - $10.0 billion 1% Company D 33% < $5.0 billion 6% Company E 57% > $10.0 billion 2% Merchant 50% 0% Online 0% 10% 20
Slide 8: Q3 2021 Business Highlights
Q3 2021 Business Highlights Grew from 20 to 25 the number of different countries in which Riskified processed more than $100M of GMV in the last 12 months (based on location of the end consumer), reflecting the growing applicability of the Riskified value proposition for the global eCommerce ecosystem R
Slide 9: Revenue Model Flow Recap
Revenue Model Flow Recap Riskified’s GMV Total eCommerce volume submitted to Riskified for review Transforming GMV into Revenue Approval Rate (%) Varies by merchant based on a variety of inputs, including the Take Rate (%) industry of the merchant, the risk level of the end market, the Take percentage
Slide 10: Q3 2021 Financial Highlights
Q3 2021 Financial Highlights GMV $20.9B, up 28% YoY Revenue $52.5M, up 26% YoY Gross Profit $24.3M, up 10% YoY Adjusted EBITDA $(13.8M), down from $(1.8M) in Q3’20
Slide 11: Key Transitory Considerations
Key Transitory Considerations Expect PSD2 regulation--which European Union countries have begun to adopt in earnest--to continue to accelerate relative to earlier quarters for the remainder of FY21 and into the start of next year. Q4 could carry a more significant growth impact compared with Q3 Curre
Slide 12: Outlook
Outlook Full Fiscal Year 2021 Guidance Updated Guidance Prior Guidance Revenue $226.2M - $227.2M Revenue $224.4M - $225.4M YoY Revenue Growth 33% - 34% YoY Revenue Growth 32% - 33% Adjusted EBITDA $(25.5M) - $(24.5M) Adjusted EBITDA $(26.3M) - $(25.3M) # Q4’21 QTD GAAP weighted average shares of app
Slide 13: Investor Relations Contacts
Investor Relations: Chris Mammone, The Blueshirt Group for Riskified ir@riskified.com Corporate Communications: press@riskified.com
Slide 14: Appendix
Appendix
Slide 15: Q3'21 GAAP Financial Results
Q3’21 GAAP Financial Results $ in thousands Q3'21 Q3'20 Revenue 52,533 41,695 Cost of revenue 28,250 19,665 Gross profit 24,283 22,030 Operating expenses: Research and development 14,251 9,504 Sales and marketing 17,466 9,669 General and administrative 15,486 5,557 Total operating expenses 47,203 24,
Slide 16: Q3'21 Reconciliation of GAAP Net Profit (Loss) to Adjusted EBITDA
Q3’21 Reconciliation of GAAP Net Profit (Loss) to Adjusted EBITDA $ in thousands Q3'21 Q3'20 GAAP Net profit (loss) (86,853) (10,680) Non GAAP expenses: Share-based compensation expense 8,506 601 Depreciation and amortization 655 327 Interest income, net (145) (43) Other (income) expense, net 64,601 7